Trive Africa has launched contracts for difference (CFD) trading services for clients in the Middle East and North Africa (MENA) region. This new offering is facilitated through Trive International, a British Virgin Islands-regulated entity, Finance Magnates learned exclusively.

According to the company, this step marks an important milestone in its ambition to cover a larger market share across Africa and the Middle East. It followed the recent onboarding of CFD traders by Trive South Africa.

Expansion into MENA

Thrive Africa has announced new incentives accompanying the launch of the new service to clients in the MENA region, including a deposit bonus of up to $100,000 and access to leverage of up to 1:2000. Additionally, the company is integrating some of the widely accepted payment methods, such as Skrill and Neteller, to enhance transactions for its users.

“We are excited to bring our CFD trading services to the MENA region. This expansion not only aligns with our commitment to enhancing our product offerings but also reinforces our vision of becoming the premier derivatives broker in Africa. We are dedicated to providing our clients with exceptional trading experiences and opportunities for growth,” stated Marius Grobler, the CEO of Trive Africa and the Middle East.

In addition to CFD trading, the company has invested heavily in its infrastructure, including a planned launch of a copy trading platform that enables clients to follow and replicate the strategies of experienced traders.

The company expects the new feature to go live soon to provide additional options for MENA clients to engage in the market. The company added that clients will also benefit from improvements in the secure client area, which allows for execution through MT4/MT5 platforms or directly within the system.

Pursuing Mergers and Acquisitions

In line with its 10-year strategic plan, Trive Africa is actively pursuing mergers and acquisitions across African regions. These activities aim to strengthen the company’s infrastructure and further enhance its product offerings. The firm is also developing its own proprietary trading platform and has entered into partnerships with other players in the region.

This week, Trive South Africa began onboarding derivatives trading clients, making a foray into Africa’s financial markets. Currently, the firm is regulated by the FSCA and is led by Trive’s Former MENA Chief Operating Officer Marius Grobler. “Our recent strategic partnerships, including our collaboration with Finalto SA as our Over-the-Counter Derivative Provider (ODP) and risk partner, position us strongly in the market,” Grobler mentioned.