Australia based, Far East focused Retail FX and CFDs broker Mitrade has announced that it has acquired Fridah Asset Managers Pty Ltd, a licensed Financial Services Provider (FSP) regulated by South Africa’s Financial Sector Conduct Authority (FSCA).
The company, to be renamed Mitrade Markets Pty Ltd, represents Mitrade’s fifth regulatory license and further strengthens its global expansion strategy across Africa, the Middle East and Latin America. Earlier this year Mitrade became a regional CFD sponsor of the Argentine Football Association.
Mitrade stated that the acquisition plays a critical role in its long-term strategy to reach emerging markets, particularly the Middle East and North Africa (MENA) and Latin America (LATAM).
Kevin Lai, Vice President of Mitrade said,
“In a volatile macroeconomic climate, building resilient infrastructure across licensed jurisdictions is how we scale sustainably. This acquisition forms part of a broader strategy to promote inclusivity by expanding access to credible, regulated brokers across regions like LATAM and MENA, and to provide traders with intuitive trading experiences that meet them wherever they are.”
Mitrade’s regulatory footprint already includes licenses from ASIC (Australia), CIMA (Cayman Islands), FSC (Mauritius) and CySEC (Cyprus). The addition of the FSCA license through Fridah Asset Managers Pty Ltd further enhances Mitrade’s ability to offer consistent access to more than 800 financial instruments, including forex, indices, commodities, ETFs and shares.
About Mitrade
Australia based Mitrade is a CFD trading platform founded in Melbourne, trusted by 5M+ traders worldwide. It operates several regulated subsidiaries including in Australia (ASIC AFSL 398528), Cyprus (CySEC CIF 438/23), and now South Africa, as well as offshore entities in the Cayman Islands and Mauritius. Focusing mainly on traders in the Far East, Mitrade is controlled by Singapore based Chinese national Shifei Chen.
