UK-listed broker, Plus500, announced on Monday that it has obtained a license from the Dubai Financial Services Authority (DFSA). The award-winning trading firm now holds 12 regulatory licenses and joins big names like Pepperstone and XTB in bolstering its presence in the UAE.
The DFSA is the chief financial regulator in the special economic zone, also known as the Dubai International Financial Centre. Securing a DFSA license adds a layer of credibility to brokers looking to attract traders from the Middle East.
DFSA-regulated brokers must follow rules designed to protect retail traders, including margin requirements, restrictions on funding trading accounts with credit cards, and ensuring that marketing materials are not misleading.
CEO of Plus500, David Zruia, commented on the news: “We are delighted to have received license authorization from the DFSA in the UAE, and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realization of our strategy to enter new markets, develop new products, and deepen engagement with our customers.”
Group CFO of Plus500, Elad Even-Chen, added: “We are really proud and excited to have obtained this new licence in the high-growth market of the UAE. The licence offers Plus500 a significant long-term commercial opportunity, as we aim to onboard a range of new customers across the UAE. Our efforts will be supported by Plus500’s unique proprietary technology, which underpins our on-going ability to attract and retain higher value customers, on a global basis, over the long-term.”
Launched in 2008 and headquartered in Israel, Plus500 is a top-rated online broker. Over 10 million traders have opened an account with the award-winning firm in the last 15 years.
Alongside its new license from the DFSA, Plus500 is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities & Exchange Commission (CySEC), and the Australian Securities & Investments Commission (ASIC), among others.
Thousands of instruments are available to account holders, from CFDs on currency pairs, stocks and commodities to popular cryptos like Bitcoin and Ripple. Dynamic, tight spreads are available alongside zero commissions.
Plus500 also offers its own powerful trading platform. The user-friendly trading terminal offers sophisticated drawing and charting tools, plus straightforward stop and limit orders. The platform is available on all major web browsers, as well as an iOS and Android-compatible mobile app.
Plus500 is an established global brokerage and its latest license from the DFSA will help expand its client base in the Middle East. Follow the sign-up link below to get started.