Trade Nation, a forex and contracts for differences (CFDs) broker, has secured a new strategic license from the Financial Services Authority of Seychelles. This license expands the company's suite of existing authorizations, which include those in the UK, Australia, the Bahamas, and South Africa.

Trade Nation Obtains License in Seychelles

Seychelles is a small island in the Indian Ocean, located about 1,600 kilometres off the coast of Africa. It is a popular licensing location among brokers that allows access to the Asian market. This is the goal that the broker Trade Nation has set for itself.

Stuart Lane, the CEO of Trade Nation, views the Seychelles license as a significant milestone for Trade Nation's growth.

“As we continue to fortify our regulatory position and offering to our global clientele, we are delighted to provide even more customers with a competitive service they can trust,” Lane commented. “Trade Nation is strategically well-positioned to launch these new initiatives under the protection of Seychelles regulation ."

Wanting to expand into new markets and broaden its existing customer base, Trade Nation has chosen to collaborate with a popular sports team. At the end of June, the company announced that it is becoming the new sleeve sponsor of Aston Villa FC, a team competing in England's highest football league. Prior to this, two cricket teams had joined the company's list of partners.

Meanwhile, Trade Nation has promoted Richard Nathan to the position of CEO for the Bahamas region. Nathan has been serving as the Director of Customer Service since April 2019.

Brokers Are Increasingly Choosing Seychelles

Although a few years ago, Seychelles was primarily associated with an exotic regulatory location, the FSA has done a lot to establish itself as a trusted regulatory institution. For this reason, more brands, not only FX/CFDs but also from the crypto industry, are choosing to get licensed on the oceanic island.

At the end of June, one such broker was Moneta Markets, which, thanks to its presence in Seychelles, is targeting global expansion. At the end of last year, the cryptocurrency platform, Bitget obtained authorization there. Some of the biggest brokers in the retail space, including Plus500, have been benefiting from local regulations for several years now.

Compared to licenses obtained in Europe, Seychelles offers much cheaper conditions for authorized companies. Together with Mauritius and Vanuatu, they are currently the cheapest solutions for brokers who want to achieve the status of a regulated firm.