Cypriot broker M4Markets has received a license from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).
Although the broker has struggled recently and has significantly reduced its management team, it has rehired its former MENA Director, Oscar Asly, who was with the company from 2021 to 2022.
Asly, who most recently worked at Binance, will take over as CEO of MENA to lead M4Markets' new licensing arm.
With the latest license, the broker is regulated in four jurisdictions, including the DFSA, CySEC, FSA, and FSCA, FNG reported.
The broker said that obtaining the DFSA license demonstrates its commitment to adhering to the highest regulatory standards and requirements, as well as providing a secure trading environment for its clients.
"It is with great pleasure that we announce M4Markets has been granted the prestigious DFSA license, affording us the ability to extend our services in the Middle East. This is a significant milestone and pivotal moment for our company, and we are eagerly looking forward to expanding our sphere of influence in the region, thereby providing our valued clientele with an extensive range of trading opportunities and financial instruments," said Panikos Teklos, chairman of M4Markets.
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