VFEX launches online trading platform

02 Sep, 2022 - 00:09 0 Views
VFEX launches online  trading platform Since the launch of the VFEX in 2020, trading has mainly been dominated by institutional investors.

The Herald

Oliver Kazunga-Senior Business Reporter

THE Victoria Falls Stock Exchange (VFEX) has launched an online trading platform that seeks to provide retail investors with an easy and convenient way of buying and selling securities listed on the US dollar denominated bourse.

VFEX is a wholly-owned subsidiary of the Zimbabwe Stock Exchange (ZSE) and is denominated in foreign currency targeting foreign investors as well as global capital markets especially the mining industry.

The stock exchange was launched in 2020 and some of the counters trading on the bourse are Caledonia Mining Corporation,  Bindura Nickel Corporation and Seed Co International Limited and Padenga Holdings.

In a statement, yesterday, ZSE chief executive officer Justin Bgoni said the  online trading platform, which is called VFEX Direct, has been launched as a direct  response to the needs of the market .

“Since the launch of the  VFEX  in 2020 , trading  has mainly  been dominated by  institutional investors,  and from the feedback received ,retail investors would also like to participate  on the VFEX.

“In response  to the needs of our  valuable clients , we are pleased to announce  the introduction of the VFEX  Direct  which was mainly developed with  retail investors in mind ,”  he said.

He said  VFEX Direct  will be accessed  through  the  web portal  www.vfexdirect.vfex.exchange.com and mobile applications (Google Play Store and Apple App Store).

Investors wishing to participate through VFEX Direct, will be required to hold an FCA (Nostro) account with any Zimbabwean bank.

“VFEX Direct is meant to make investing on VFEX easier and simpler and some of the key features on the platform include; user friendly interface, which makes the platform easy to use, even for a first time investor.

“The key features such as buying, selling, topping up your wallet are easy to navigate.”

The platform also provides latest market statistics, market depth, and price range on buy and sell tabs.

The VFEX was granted licence to operate a securities exchange by the Securities and Exchange Commission of Zimbabwe in accordance with the Securities and Exchange Act, Chapter 24:25.

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