XS.com
received a Category 5 license from the United Arab Emirates’ Securities and
Commodities Authority (SCA), adding another regulatory approval to the online
broker’s growing list of international permits.
“The
United Arab Emirates is a prestigious and dynamic global financial hub, and
being licensed here represents not only a regulatory milestone but also a clear
signal of our commitment to excellence, transparency, and client
protection,” said Shadi Salloum, XS.com’s regional director for the Middle
East and North Africa.
The
Australia-founded trading platform established a new UAE entity to operate
under the SCA framework. The broker now holds licenses across eight
jurisdictions including Australia’s ASIC, Cyprus’ CySEC, and authorities in
Seychelles, Malaysia, South Africa, Kuwait and Mauritius.
This latest
one is the newest addition to the list, following
the bank’s efforts in August to strengthen its offshore presence.
The Gulf Attracts More Brokers
For XS.com,
however, this is not its first contact with the Middle Eastern market. Earlier
this year, in July, the
broker opened a new office in Kuwait, partnering with NVEST and forming a
new entity called XS Online.
Meanwhile,
last week FinanceMagnates.com reported that another
broker, Exness, also obtained a new license in the region, specifically in
Jordan.
A month
ago, Capital.com reported its financial results for the first half of 2025,
showing that more than half of its trading volume came from
the MENA region.
Trading activity during the six-month period exceeded $800 billion (compared
with $224 billion in Europe), marking a 54% increase compared with the second
half of 2024.
Interestingly,
these results were achieved with only about 35,000 traders in the region, half
as many as in Europe, yet they opened more and higher-value positions.
Tickmill
also reported record volumes in the MENA
region last year,
up 54% to $135 billion.
As for the
UAE, the local market has recently attracted several major players, including
the crypto exchange Bybit
and retail trading providers like
Deriv and Neex.
This article was written by Damian Chmiel at www.financemagnates.com.
Source link
