Mitrade, a global CFD broker, has acquired Fridah Asset Managers Pty Ltd, a licensed financial services provider in South Africa, expanding its regulatory footprint with approval from the Financial Sector Conduct Authority (FSCA).
The acquired company will be renamed Mitrade Markets Pty Ltd, marking Mitrade’s fifth license globally.
The move reinforces Mitrade’s long-term growth strategy across Africa, the Middle East and Latin America, as it seeks to attract growing retail participation in emerging markets.
Trading activity in regions such as the MENA region and Latin America is on the rise, reflecting growing demand for mobile-first trading platforms, Mitrade noted.
“In a volatile macroeconomic climate, building resilient infrastructure across licensed jurisdictions is how we scale sustainably,” said Kevin Lai, Vice President of Mitrade.
“This acquisition forms part of a broader strategy to promote inclusivity by expanding access to trusted and regulated brokers across regions such as Latin America and the MENA region.”
Mitrade already holds licenses from ASIC in Australia, CIMA in the Cayman Islands, FSC in Mauritius, and CySEC in Cyprus.
The new FSCA license will allow the broker to provide seamless access to over 800 financial instruments, including forex, indices, commodities, ETFs and stocks, while enhancing regulatory oversight and the credibility of the local market.
This acquisition underscores Mitrade’s goal to position itself as a trusted, multi-region trading provider offering secure and intuitive platforms to global investors.