Equity Group #ticker:EQTY has launched an online real-time forex trading platform across multiple currency pairs as it seeks to double its forex (FX) customers.
The platform dubbed EazzyFX eliminates the need for face-to-face or over-the-phone transactions giving customers access to “competitive” prices on both emerging market and major traded currencies.
This will cut settlement time for forex transactions from about half an hour to under two minutes, according to Group Director of Treasury James Mutuku.
“Forex trading is still viewed as a mystery and a preserve of elitist clubs. The banks dictate what time to open and close but EazzyFx gives customers the control to trade round the clock with real time settlement,” said Mr Mutuku during the launch in Nairobi.
Key clients targeted are corporates and small and medium size enterprises.