Capital.com Gets UAE SCA Category 1 License
Capital.com, a Retail FX and CFDs broker based in London, got the UAE SCA Category 1 license from the UAE’s financial regulator, the Securities and Commodities Authority (SCA). This significant development signals Capital.com’s intention to bolster its presence in the Middle East, particularly in Dubai, where it plans to increase hiring and expand operations following its move to larger office premises in Emirates Towers.
UAE SCA Category 1 License
The acquisition of the UAE licence represents a strategic shift for Capital.com. Following leadership changes, including the appointment of Kypros Zoumidou as CEO, the company is redirecting its focus away from the UK and towards expansion in Dubai and the Far East.
Tarik Chebib heads Capital.com’s MENA operations, leveraging his experience from IG Group. Capital.com operates licensed subsidiaries across the UK, Australia, Cyprus, and the UAE. This move reflects the company’s commitment to global growth while ensuring regulatory compliance and delivering value to clients.
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What Does It Mean for Users?
With Capital.com securing a Category 1 licence from the UAE’s financial regulator, users can expect several implications:
Access to New Markets
The acquisition of the UAE licence signifies Capital.com’s readiness to cater to users in the Middle East, offering them access to a new market with its comprehensive range of financial products and services.
Regulatory Compliance
Users can trust Capital.com’s commitment to regulatory compliance and adherence to Securities and Commodities Authority (SCA) standards. Category 1 license ensures secure and transparent trading.
Expanded Product Offerings
With Capital.com expanding its operations in the UAE, users may benefit from an expanded suite of products and services tailored to the specific needs and preferences of the Middle Eastern market. This could include localised offerings and support in Arabic, enhancing the overall trading experience for regional users.
Increased Investment Opportunities
The broker’s UAE presence offers new investment opportunities to users to diversify their portfolios and explore growth areas within the region’s financial landscape.
About Capital.com
Capital.com was established to make financial markets accessible for all. The company has various online brokerage subsidiaries worldwide, including the UK, Cyprus, Australia, and the UAE. It offers access to various instruments, including stocks, CFDs, Forex, and more. It has 580k+ active traders and a monthly investment volume of over $68 million.
Way Forward
Capital.com’s acquisition of a Category 1 licence in the UAE marks a pivotal moment in its strategic roadmap. Capital.com is set for expansion in the MENA region and Far East, with a focus on growth and innovation. Tarik Chebib’s leadership in the Middle East showcases the company’s dedication to fostering local talent and building strong partnerships in the region. With a clear vision, the company is well-positioned to emerge as a leading player in the Middle Eastern market.
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