Capital.com has expanded its regulated presence in Africa after securing separate authorizations in Kenya and South Africa during 2026, establishing local frameworks for offering foreign exchange and contracts for difference (CFD) trading in two of the continent’s major financial markets.
The brokerage received a Dealing Online Foreign Exchange Broker licence from Kenya’s Capital Markets Authority (CMA) in January, followed by dual approval from South Africa’s Financial Sector Conduct Authority (FSCA) in June.
The South African authorizations cover over-the-counter derivatives dealing and Category 1 financial services activities, with Capital.com outlining plans to provide access to more than 5,000 CFD markets, including shares, commodities, indices, foreign exchange and cryptocurrencies.
Although both developments support the broker’s African expansion, the regulatory frameworks are not interchangeable. Each authorization applies to a particular local business, with separate supervisory requirements and permitted activities.
Capital.com Secures Kenya Dealing Forex Broker Licence
Capital.com announced on January 15, 2026, that CC Kenya Securities Limited, trading as Capital.com, had received CMA licence number 244.
The authorization permits the company to operate as a Dealing Online Foreign Exchange Broker, providing regulated online forex trading services while acting as a counterparty to customer transactions.
Kenya’s CMA distinguishes between dealing and non-dealing online forex brokers. A dealing broker may operate as principal and market maker, while a non-dealing broker acts as an intermediary between customers and the wider foreign exchange market.
That distinction matters because the dealing model can involve the broker taking the opposite side of a customer’s transaction, rather than simply routing every order to an external liquidity provider.
Such arrangements are subject to applicable regulatory and conduct requirements, including the management and disclosure of potential conflicts of interest.
The CMA’s public register identifies CC Kenya Securities Limited under licence 244, confirming the local company’s regulatory status.
Capital.com appointed Samwel Kiraka as chief executive officer for Kenya, placing him in charge of establishing local operations, governance and compliance arrangements.
The broker also maintains Kenya-specific legal documentation, including an order execution policy, conflicts of interest policy, complaints procedure and risk disclosure statement.
Its local business address is listed as Sanlam Tower, Sixth Floor, Suite 613, Waiyaki Way, Westlands, Nairobi.
For Kenyan customers, the existence of a locally licensed entity creates a clearer regulatory relationship than opening an account with an unrelated offshore company operating under the same commercial brand.
South Africa Grants Capital.com Two Financial Services Approvals
Capital.com’s second major African regulatory development came on June 23, when the company announced authorization from South Africa’s FSCA.
The regulator approved Capital.com South Africa as both an Over-the-Counter Derivatives Provider (ODP) and a Category 1 Financial Services Provider (FSP).
The two authorizations cover different functions within the broker’s proposed local business.
The ODP approval provides a regulatory framework for offering and executing over-the-counter derivative transactions, including eligible CFDs.
The Category 1 authorization permits the company to undertake approved financial services and intermediary activities, including non-advisory services involving applicable financial products.
Capital.com said its South African business planned to onboard customers and offer CFD access across more than 5,000 markets.
The proposed range includes equities, indices, commodities, foreign exchange and cryptocurrency CFDs, subject to South African regulatory requirements.
The approvals establish the legal basis for these activities, although the exact instruments and account services available to an individual customer depend on the company’s operational rollout and applicable product permissions.
Capital.com appointed Travis Robson as chief executive officer for South Africa, giving the local operation dedicated management responsible for its regulated activities.
Why Kenya and South Africa Require Different Operating Models
The two approvals illustrate the fragmented regulatory environment confronting international CFD brokers seeking to expand across Africa.
Kenya regulates online forex brokers through a dedicated CMA licensing framework that distinguishes dealing firms from non-dealing intermediaries.
South Africa, by contrast, applies separate authorizations to over-the-counter derivatives providers and financial services businesses.
Consequently, obtaining permission in one jurisdiction does not establish authorization to serve customers in another.
For example, Capital.com’s Kenyan dealing-broker licence does not substitute for an FSCA derivatives authorization in South Africa. Similarly, its South African approvals do not extend the scope of CC Kenya Securities Limited’s CMA licence.
This distinction also affects the regulatory entity responsible for customer accounts.
Capital.com operates internationally through companies subject to supervision by regulators including the UK’s Financial Conduct Authority, the Cyprus Securities and Exchange Commission and the Australian Securities and Investments Commission.
However, protections and obligations associated with those overseas entities should not automatically be assumed to apply to customers contracting with the Kenyan or South African businesses.
Account agreements, client-money arrangements, complaint procedures and permitted leverage may differ depending on the legal entity and local rules.
Local Licensing Changes the Regulatory Position for Retail Traders
For retail customers, the significance of Capital.com’s African authorizations extends beyond the availability of its trading platform.
CFDs allow investors to speculate on changes in the prices of financial instruments without necessarily owning the underlying assets.
These contracts commonly involve leverage, allowing a relatively small amount of margin to support a much larger market position.
For example, a $1,000 margin balance supporting a $10,000 position represents tenfold exposure. A 5% adverse movement in the underlying market would produce a $500 trading loss before fees, financing charges or other adjustments.
That would represent half the initial margin, illustrating how losses can accumulate rapidly in leveraged trading.
Regulatory supervision does not eliminate these market risks, but it establishes requirements governing the conduct and operation of authorized firms.
In Kenya, Capital.com’s published legal documentation identifies specific policies covering order execution, conflicts of interest and customer complaints.
In South Africa, the broker’s dual approvals place its authorized activities within the FSCA’s supervisory framework for derivatives providers and financial services businesses.
Customers should still verify the company named in their account agreement, the applicable financial regulator and the exact products they are permitted to trade.
Capital.com’s African Expansion Adds to CFD Brokerage Competition
The two regulatory developments position Capital.com to compete more directly with established online trading providers serving African markets.
Kenya has attracted both domestic and international forex brokers operating under its CMA framework, while South Africa has a larger established financial services industry and a separate regulatory regime for derivatives providers.
For Capital.com, entering both markets through locally authorized entities requires additional operational commitments, including management, regulatory reporting, compliance systems and customer-support arrangements.
These obligations can increase the costs of market entry compared with providing services solely through an offshore entity.
They also create a more defined legal framework for conducting local business and addressing supervisory concerns.
The commercial opportunity extends beyond foreign exchange alone. Capital.com’s planned South African offering includes equities, commodities, indices and cryptocurrency-linked derivatives, potentially allowing customers to access multiple markets through one trading account.
However, authorization to provide CFDs should not be confused with permission to offer every type of direct investment product. A share CFD, for example, provides price exposure without transferring ordinary shareholder ownership rights.
The longer-term significance of Capital.com’s expansion will depend on how the local businesses develop, which products become available and whether they attract sustained retail trading activity.
The 2026 approvals establish two separate regulated operating frameworks, marking a shift toward more locally supervised operations in Africa. For customers, the most important consideration remains the legal entity providing the service and the protections attached to that relationship.
Johan Shamshad is a financial markets writer at Dave Finances covering cryptocurrencies, trading platforms, brokers, fintech, financial regulation, and developments across global markets. He previously worked at Gulf News, adding newsroom experience to his coverage of fast-moving financial and digital-asset markets.
His work focuses on identifying market-moving events, company developments, regulatory changes, product launches, and shifts in trading and financial infrastructure.
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