XM Strengthens UAE Credentials With SCA License
XM continues its global march after obtaining a license from the Securities and Commodities Authority (SCA) of the United Arab Emirates.
The authorization enables XM to provide its full suite of trading products through its UAE-focused website, available in Arabic and English.
Key Takeaways
- XM has secured a category 5 license from the UAE’s SCA, with license number 20200000322.
- The broker obtained approval from the Dubai Financial Services Authority (DFSA) in 2019, under license number F00348.
- The SCA and DFSA are both ‘yellow tier’ bodies in DayTrading.com’s regulator directory, ensuring robust regulatory oversight, especially for clients in the Middle East.
Menelaos Menelaou, co-Chief Executive Officer at XM, commented: “The UAE has established itself as a world-class financial hub, and receiving authorization from the SCA underscores our commitment to long-term growth and trust in the region.”
Menelaou added: “We are proud to now offer UAE clients the same award-winning services and high standards of transparency that define XM globally.”
About XM
XM is a MetaTrader 5 broker with over 15 million clients and licenses in Europe and Australia, as well as the Middle East.
It has proven popular with active traders through its 1,000+ instruments, including turbo stocks, Zero account spreads from 0.0 pips with no requotes or rejections, and 24/5 support that’s available in 25+ languages
New clients can open an XM account with a $5 minimum deposit.
Risk Warning: Services involve significant risks and may result in the loss of your invested capital. T&Cs apply.
