X-Trade Brokers (XTB) has obtained a new financial services license in the Middle East & North Africa (MENA) region, specifically a category 3A license from the Dubai Financial Services Authority (DFSA). This license allows XTB to offer FX and CFD trading services to clients in the United Arab Emirates and the Gulf Cooperation Council (GCC) member states.
Global Development
In early 2021, XTB announced its intention to seek a license from the DFSA. XTB’s president, Omar Arnaout, stated in April, “We are very close to launching operations in the United Arab Emirates. We intend to start operating in this market in the first half of 2021.”
Following the acquisition of the license, Omar issued another statement, “Today we have marked a very significant step in continuing our global development strategy by obtaining a DFSA license, which allows XTB to offer its services to clients in the MENA region. With the opening of our new office in DIFC, we will be able to build close relations with our clients by providing them with world-class technology and best-in-class support.”
With this new license, XTB MENA will offer local investors access to over 1600 instruments, including forex, stocks, commodities, and other CFDs.