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#1 22-08-2020 07:20:38

johnedward
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Pepperstone secures an operating licence from German BaFin regulator

Pepperstone secures an operating licence from Germany's BaFin regulator


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Pepperstone, Australia's global forex and CFDs broker, has secured a financial services license from Germany's regulator: BaFin.

The brokerage firm emphasizes that this decision is part of its strategy for global growth. Indeed, its approach to obtaining a local German license is also in tune with its ambition to better serve German and Austrian traders.

"This is an important milestone for Pepperstone," Thomas Szabo, Pepperstone director, says in a statement. Expanding our global reach has been an important goal for us over the past few years. Expanding our reach into Europe is a natural step for us on this journey. Obtaining the BaFin license strengthens our commitment to 'expand our offer for German and Austrian traders."

Pepperstone, however, did not provide further details on the operation located in Germany.

Preparing for the Brexit

Pepperstone is preparing to continue its global growth plans in the European Union. Currently, the brokerage firm offers its services in European countries via its UK license issued by the FCA (Financial Conduct Authority).

Following the UK's full divorce from the EU in the coming months, passport rights on licensing between the UK and the EU will be terminated.

Pepperstone is therefore also seeking a CIF license from the Cypriot regulatory authority in order to continue its European operations after Brexit.

Pepperstone is also regulated by the ASIC (Australian Securities and Investments Commission) in Australia, the FCA (Financial Conduct Authority) in the UK, the DFSA (Dubai Financial Services Authority) in the UAE and the SCB (Securities Commission of the Bahamas) in the Bahamas.

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