Financial technology provider, MahiFX, are now authorised to provide regulated products and services by the FCA.
The firm recognised that authorisation from the UK-based financial regulatory body was important for their European-based clients, in addition to already being authorised and regulated by both the Australian Securities and Investment Commission and the New Zealand Financial Markets Authority.
Compliance and Finance Manager, Nicole Vivian, has said, “MahiFX is proud to be regulated in the United Kingdom, Australia and New Zealand. As a regulated entity, MahiFX is required to meet strict financial standards, including capital adequacy requirements. On a regular basis, MahiFX is required to submit financial reports to regulators and must meet the highest standards of corporate governance, financial reporting and disclosure.”
Founded in 2010, MahiFX is a provider of foreign exchange technology products, enabling spot e-FX businesses to reduce costs, manage risk, and analyse their operations in fine detail. Their unique business model means that MahiFX forms a partnership with each of their clients to ensure maximum results, and take no payments from clients until they begin to profit from their services. MahiFX also offers their popular proprietary trading platform, MFX Trade, to retail clients.
David Cooney, CEO of MahiFX has said of the announcement, "We are providing services to a range of FCA regulated brokers, and as a technology provider we thought it was important to comply with the same standards as them. Authorisation from the FCA also reinforces our status as a business that prioritises integrity, honesty and security. We hope that our new membership demonstrates this to both present and future clients.’