Pepperstone Gains Germany's BaFin License

Pepperstone, a global Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs broker, has received a financial services license from the German regulator BaFin, the brokerage confirmed to Finance Magnates.

The brokerage is highlighting the move as a part of its global growth strategy. Indeed, its approach to receiving a local German license also aligns with its ambition to better serve the German and Austrian markets.

“This is a significant milestone for Pepperstone,” Pepperstone CEO Tamas Szabo said in a statement. “Expanding our global reach has been an important focus for us in recent years. Widening our reach in Europe was a natural step for us in this journey. Securing the BaFin license further solidifies our commitment to expanding our offering for German and Austrian clients.”

Pepperstone, however, did not provide any further details on the localized German operation.

Preparation for Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term

This came at a time when the broker is preparing for furthering its global growth plans in the European Union. Pepperstone now offers its services in European countries by passporting its United Kingdom license under the Financial Conduct Authority (FCA) that it received in 2015.

After the complete divorce of the UK from the EU in the coming months, passporting rights of licenses between the UK and EU will be scrapped.

Finance Magnates earlier reported that the Australian brokerage is also seeking a CIF license from the Cyprus regulator to continue its European operations post-Brexit.

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