VYNTOR, a leading online trading services provider, is proud to announce the recent acquisition of a licensed ODP (Over-the-Counter Derivative Provider) in South Africa following the successful purchase of Khwezi Financial Services, which is regulated by the Financial Sector Conduct Authority (FSCA). This strategic move further solidifies VYNTOR’s global presence and strengthens its position as a key player in the online trading industry.
The Over-the-Counter Derivatives Provider (ODP) licence, granted by the FSCA under Financial Markets Act no.19 of 2012, enables financial service providers to legally offer over-the-counter derivatives, such as contracts for difference (CFDs). As a result, VYNTOR can now provide South African clients access to various financial instruments and offer comprehensive trading services as an ODP.
VYNTOR Chairman Joe Li highlighted the company’s commitment to providing a world-class trading experience for clients in the region.
“With the recent acquisition of Khwezi Financial Services, VYNTOR boldly charts its path to significant growth in the South African market. In addition to competitive spreads, cutting-edge technology platforms, and round-the-clock customer support, VYNTOR aims to cater to the needs of retail clients with a client-centric approach and provide a new source of liquidity in the African institutional business. By leveraging our resources and expertise, we aspire to establish ourselves as a leader in the industry, offering trading opportunities and services ahead, and service a wider range of customers in the African market.”, stated Joe Li.
As a myriad of international accolades VYNTOR bears witness to, the company prides itself on providing top-notch and transparent services to clients from all walks of life. Since its inception in 2017, VYNTOR has achieved significant milestones that have set it apart from its competitors.
In 2023, VYNTOR obtained a Securities and Commodities Authority (SCA) licence in the United Arab Emirates (UAE), allowing it to offer an array of financial products to residents. Moreover, through acquiring Rakuten Securities Australia Pty Limited in the same year, VYNTOR secured an Australian Securities and Investments Commission (ASIC) licence. Including the ODP licence now, this year VYNTOR has already acquired 3 more licences in addition to the recent licence library FCA (UK), CySEC (Cyprus), FSC (Mauritius), and Seychelles. These important licences paved the way for offering secure and regulated trading services to customers across multiple jurisdictions.
As evidenced by this latest development in South Africa, VYNTOR remains committed to expanding its global reach and optimising its offerings in compliance with regional regulations. Guided by its diligent adherence to local laws and dedication to stringent customer protection measures, the future seems promising for VYNTOR and its clientele not only in South Africa but worldwide.
