EC Markets secured a key license that allows it to operate fully in the country’s tightly controlled financial sector. The Securities and Commodities Authority (SCA) of the UAE has issued EC Markets a Category 5 license, which permits the broker to introduce clients, market its services, and provide a range of financial consultations within the country.
Regulatory Win in a Tightly Regulated Market
This development comes as global firms increasingly target the Middle East for its capital inflows and fintech innovation. Operating under SCA oversight places EC Markets in a select category of international brokers with legal backing to function in the UAE.
EC Markets already holds licenses from several major jurisdictions, including the UK’s Financial Conduct Authority (FCA), Australia’s ASIC, and South Africa’s FSCA.
“Securing the SCA licence is a strategic milestone for EC Markets,” said Matthew Smith, Chairman and CEO of EC Markets. “This approval reflects not only our commitment to the highest standards of compliance but also our ambition to deliver innovative, transparent, and reliable financial services.”
Read more: 26 Degrees Adds QuantHouse Cboe One Feed for US CFD Retail Flow and Extended Trading
The addition of the SCA license deepens the firm’s regulatory footprint and positions it to respond quickly to client needs across different geographies. The company underwent a rigorous evaluation process for the license, supported by the legal team at Varnavas Playbell & Co. LLC.
Middle East Becomes New Focus
With its new license, EC Markets joins a growing list of international firms seeking to embed themselves in the Gulf’s evolving financial ecosystem.
More brokers have been expanding their services in the Middle Eas. ICM.com recently obtained its second United Arab Emirates (UAE) license in the region. According to the company, ICM MENA, a subsidiary of ICM.com, was given the Securities and Commodities Authority (SCA) license from the authorities in Dubai.
Early this year, EC Markets renewed its exclusive FX partnership with Judd Trump, the preeminent figure in the world of snooker. The extended agreement signified an important step in EC Markets’ effort to elevate its global presence while deepening engagement with key markets, particularly in Asia.
“Together, EC Markets and I have accomplished great things. I’m excited to see what new milestones we’ll reach in this chapter of our partnership,” commented Judd Trump.
This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More
You might also be interested in reading Optimism Foundation Sends 20M Tokens To The Wrong Wallet.