VCG Markets has secured regulatory approval for a non-dealing online forex brokerage in Kenya, joining a growing list of international brokers establishing a regulated presence across East Africa’s primary financial hub. “We are investing locally and bringing the VCG Mobile App, our flagship trading platform, to Kenyan investors,” said Brian Myers, Group CEO of VCG Markets. What the Kenyan Licence Covers Kenya has regulated online forex trading under a dedicated framework since 2017. The Capital Markets Authority (CMA) authorisation enables the group to offer online forex and contract-for-difference (CFD) products through an intermediary model. Obtaining the regulatory approval requires local incorporation, segregated accounts, and a minimum capital buffer of KES 30 million ($231,000).VCG said the approval applies exclusively to VCG Markets Limited and the activities covered by its authorisation. It does not extend to every entity or product within the group. As of 10 November, VCG Markets Limited was not listed in the CMA’s public register of non-dealing forex brokers, and the broker’s regulatory disclosures did not yet include Kenya.VCG Follows Other Brokers into Kenya VCG had identified Kenya as a target market in July, when Finance Magnates reported its Seychelles licence. It now plans to bring its mobile app, launched in 2024, to Kenyan clients under the new local authorisation. Other international brokers received CMA approvals earlier this year. XM announced a non-dealing licence in February through TPXMGLOBAL Kenya Limited. Capital.com secured a dealing licence in January, allowing it to act as counterparty to client trades. VCG’s announced licence does not cover that function. VCG has not said when its Kenyan entity will begin accepting clients. That remains the next step between regulatory approval and a local launch.This article was written by Tanya Chepkova at www.financemagnates.com.