ACY Securities, a global multi-asset CFD broker, announced its acquisition of Ingot Brokers South Africa. This move grants the company a license to operate under the Financial Sector Conduct Authority (FSCA) in South Africa.

ACY Securities Expands to Africa

The company has been pursuing acquisitions in Africa, South East Asia, and Europe as part of its global expansion plan. The addition of Ingot Brokers South Africa allows ACY Securities to extend its services and technology to South African clients. These clients will gain access to over 2,200 financial instruments within a regulated environment.

The acquisition enables the introduction of LogixTrader to the South African market. LogixTrader, launched earlier this year, is a web-based trading platform offering tools aimed at improving trading performance. ACY Securities has emphasized the platform as a key element of its technology-driven approach.

LogixTrader Enters South Africa

This development follows other initiatives by ACY Securities, including updates to its Swap-Free Account and the removal of cryptocurrency deposit fees. The FSCA license allows ACY Securities to provide financial services under South Africa's Financial Advisory and Intermediary Services Act.

"Securing the deal in South Africa is a pivotal step in our global expansion journey,” Jimmy Ye, CEO of ACY Securities commented.

“This acquisition allows us to bring LogixTrader, our innovative trading platform, to a broader audience, enhancing the trading experience for clients in this dynamic market. Our focus on robust regulatory compliance ensures traders can operate with confidence, knowing they are protected by one of the world's respected financial regulators."

Meanwhile, ACY Securities reported progress in the adoption of its live copy trading feature on the Tradingcup platform, Finance Magnates reported in May. Since its launch, the feature has generated over 3,248 signals and facilitated more than $54 million in invested funds.

The live copy trading feature allows users to replicate trades from top-performing traders, offering access to trading strategies and performance data. Built on a custom in-house platform, this tool is designed to enhance engagement with financial markets for traders at various experience levels.