Scope Prime has expanded its CFDs offerings in South Africa to include equities and exchange-traded funds listed on the Johannesburg Stock Exchange (JSE), positioning itself against competitors who are reducing their presence in the region.

Scope Prime Expands CFD Offerings in South Africa

The institutional liquidity provider, which operates under Rostro Financial Group, will offer CFD access to major South African companies including Sasol, Naspers, MTN and Shoprite, along with ETFs covering key economic sectors such as mining, telecommunications and retail.

The expansion comes as other brokerage firms, including IG Group, scale back operations in South Africa, creating opportunities for companies willing to maintain local market exposure during a period of heightened volatility across global markets.

"This upgrade to our product set in South Africa comes at a pivotal time for the local market," said Daniel Lawrance, CEO of Scope Prime. "As some other brokers are pulling back from the region, we are doubling down on our commitment to providing better market access globally, including access to JSE-listed equity CFDs."

And although IG exited the local market, CFI and XS obtained licenses to operate there last year.

JSE Gets Fresh CFD Access

Scope promotes its offer to traders by highlighting several advantages it claims stem from the CFD structure, including an exemption from Securities Transfer Tax and the absence of ownership fees, which can reduce overall transaction costs. The arrangement also minimizes administrative requirements as Scope Prime handles key reporting obligations on behalf of clients.

Scope Prime has integrated with technology provider Iress to deliver real-time pricing data directly from exchange sources, aiming to provide transparent pricing mechanisms for the new product range.

Scope Prime operates through Scope Markets SA (Pty) Ltd, which holds authorization as a financial services provider and over-the-counter derivatives provider in South Africa. The company maintains offices in Johannesburg's Sandown district.

At the end of last year, Scope appointed Kearabilwe Nonyana as Head of Africa to expand its institutional liquidity services across the continent. He previously worked for IG and ThinkMarkets, both based in Johannesburg.