Capital.com, a renowned forex and CFD broker, has been granted a first category license by the UAE's financial regulator.
The UAE Securities and Commodities Authority (SCA), the UAE regulatory body established to strengthen controls in the stock market, oversees trading participants.
The UAE is one of the most attractive countries for foreign investment. Investors pour money into the country to multiply their capital. The UN has recognized the UAE as the most attractive country in West Asia and the Middle East for investors.
Broker Capital.com intends to expand its presence in the UAE and the Middle East and is ready to complement and develop its range of services following its recent move to a new office in Emirates Towers. Staffing levels will also be increased, FNG said.
The expansion of influence and licensing reflects a change in strategy for Capital.com. Following the replacement of IG Group CEO Peter Hetherington by Kipros Zoumidou, under whom the company had stated its intention to expand its presence in the UK and Europe, Capital.com has shifted its focus from the UK to other regions.
The company is now focusing on the Middle East, the Far East, and North Africa.
Capital.com's strategy for the Middle East is embodied by its CEO for the region, Tarik Chebib. He is a member of the IG Group team, which he joined in 2021 as Chief Revenue Officer before taking up his current role based in Dubai.
Previously, we reported that broker Capital.com has suspended new client registrations in the UK.
Capital.com is a trusted broker supervised by two reputable financial regulators, the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA). Capital.com is audited by the independent company Deloitte, and client funds are held in segregated accounts in European banks and protected by compensation funds.
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