Moneta Markets Expands Presence In The Middle East With Dubai License
Multi-asset broker, Moneta Markets, has secured a Mainland Company License in Dubai. It will allow the broker to strengthen its footprint in the Middle East and marks the latest step in the broker’s expansion efforts.
Key Takeaways
- The operating license can be obtained by firms registered with the Department of Economic Development (DED)
- It is not a financial service license, like those provided by the Dubai Financial Services Authority (DFSA)
- However it does provide the broker flexibility to start growing its local presence and operations
Moneta Markets Eyes Local Talent
Moneta Markets intends to move some of its core management personnel to Dubai. This is part of efforts to attract local staff and retail investors.
By strengthening its base in the region, the broker hopes to “better understand and serve the unique needs of our clients here”, according to Moneta Markets’ CEO, David Bily.
Bily went on to say: “Securing an operational license in this vibrant global business hub is a significant step forward in our ambition to offer unparalleled brokerage services worldwide.”
About Moneta Markets
Moneta Markets is a popular CFD broker that previously operated under the Vantage Group. The firm has since cut ties with Vantage but has continued to grow its global footprint.
Moneta Markets holds licenses with regulators in Saint Vincent and the Grenadines, South Africa, and the Seychelles.
Whilst not hugely respected regulators like the UK’s Financial Conduct Authority or the Australian Securities & Investments Commission, they are popular with offshore brokers, allowing firms to offer to higher leverage, trading promotions and other services not typically permitted by tier-one regulators.
Catering To Global Traders
Moneta Markets is already set up to serve global traders, with a range of account base currencies, accessible payment methods, and a low starting deposit of $50.
The broker also facilitates trading on 600+ stock CFDs from major regions, popular indices, dozens of forex pairs, plus commodities and cryptos.
The 1:1000 leverage, available due to the broker’s offshore regulatory status, is higher than many competitors, though a sensible approach to risk and wallet management should be adopted.
It is also worth noting that traders may receive limited account and fund protection measures due to the reduced regulatory scrutiny.
Still, Moneta Markets is on track to continue attracting traders from major trading jurisdictions and the latest company license in Dubai marks the next logical step in its efforts to expand into the Middle East.
