FP Markets opens new office in Johannesburg, South Africa

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FP Markets has opened a new office in Johannesburg and assembled a local team to expand its business in South Africa. The company operates locally under an FSP licence rather than applying for ODP authorisation; this route has lower regulatory requirements but does not allow it to operate as a market maker. The article also notes that South Africa’s regulatory requirements are stringent and that several brokers have already exited the market.