Polish-headquartered broker, XTB, has made a move into the Asian trading market by registering a new Dubai subsidiary. The popular forex broker has also signed up for a license from the Dubai Financial Services Authority (DFSA). This is a logical next step for the top-rated brokerage and is good news for traders in the region.
XTB Seeks DFSA License
A trading license from the DFSA not only cements its position in the area, but also provides legitimacy and security for new clients. This latest regulatory approval will follow licenses from the Cyprus Securities & Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), and the Financial Supervision Authority (KNF) in Poland.
Upon approval, XTB will be able to offer a suite of forex and CFD products to traders from the UAE, along with other GCC states, including Bahrain, Oman, Qatar, Kuwait, Saudi Arabia and North Africa.
Clients opening trading accounts with XTB will get peace of mind knowing the brokerage is abiding by the region’s regulatory conditions. It also means disgruntled traders will have recourse channels should they run into withdrawal problems, for example.
Who Are XTB?
XTB is an established broker in Europe, offering over 50 currency pairs, 1,500 CFD shares, along with commodities, ETFs and popular cryptos, including Bitcoin. Users also get the broker’s award-winning xStation platform that comes with a selection of features, from sentiment heat maps and audio market commentary to mobile and smartwatch connectivity.
The registration of its new subsidiary, XTB MENA Limited, shows the company’s commitment to hitting its 2021 growth targets, which include signing up 30,000 new traders each quarter. While clients in the region await confirmation from the regulator, the broker continues to prepare its suite of assets and trading tools for prospective customers.