XGLOBAL MARKETS ENTERS SOUTH AFRICA WITH ACQUISITION OF 98 DEGREES

XGLOBAL Markets parent company XGLOBAL Holdings have announced the 45 percent acquisition of South African financial broker 98 Degrees Alternative Risk, which has been rebranded as XGLOBAL Africa, a statement said yesterday. The deal marks the entry of XGLOBAL Group into the South Africa FX/ CFD market. The firm's local team have been retained so their local knowledge and expertise can be used to best approach the market. This move comes at a time when XGLOBAL is expanding on a global scale,in its efforts to reach a broader client base for its FX and CFD brokerage offering. “We have been looking into expanding into the African continent for some time. We partnered up with 98 Degrees, and we have agreed with XGLOBAL Africa would be a good name that reflects our interest in that region. We have added payment gateways to support that endeavour and remain optimistic we can bring good change to the way brokers offer services in that region,“said Samir Dbouk, CEO and major shareholder of XGLOBAL Group. |