Interbank FX Market: BoG reveals list of 16 authorised forex brokers
The Bank of Ghana (BoG) has published the list of authorised forex brokers with the requisite licenses to operate in the country.
According to the Central Bank, Section 3.13.1 of the Ghana Interbank Forex Market Conduct rules stipulates that, “Local and International FX Brokers who want to operate in Ghana’s forex market are required to obtain prior approval from the Bank of Ghana at the beginning of every calendar year”.
Hence, in line with Section 3.13.1, the Bank of Ghana has given authorisation to 16 forex (FX) Brokers to operate on the Ghana Interbank FX market effective January 01, 2024, to December 31, 2024.
The 16 licensed FX brokers are;
1. Black Star Brokerage
2. CSL Capital
3. Fenics MD
4. ICAP Broking Services South Africa
5. Obsidian Acherner
6. Regulus
7. Sarpong Capital
8. Savvy Securities
9. Terika Financial Services Ltd
10. Serengeti Limited
11. IC Securities
12. GFX Brokers
13. Laurus Africa
14. Shadeya Investments
15. Apakan Securities
16. SIC Brokerage
The Central Bank asserts that, it reserves the right to delist any authorised FX Broker for non-performance or non-compliance with the FX Act and the Interbank FX Market Conduct rules.
Further noting that, “An FX broker shall not deal directly with a corporate entity; it shall not also buy or sell foreign exchange for its own account nor hold, borrow or lend foreign exchange to an authorised market participant”.
