Mitrade Secures UAE's CMA License as Hormuz Crisis Roils Markets

Australian-regulated CFD broker Mitrade has obtained a license from the UAE Capital Markets Authority (CMA), its sixth global approval. The license allows the broker to offer CFDs on forex, commodities, indices, shares and ETFs to UAE-based clients.

The announcement comes as shipping through the Strait of Hormuz has plunged 90% since late February, driving extreme volatility across asset classes. “CFDs let traders respond to volatility without owning the underlying asset,” said Kevin Lai, Mitrade Group Vice President.

However, Mitrade’s Category 5 license is classified as “Arranging and Advisory” only — not authorising trading operations or order execution. The broker did not clarify which regulated entity would handle client trades.

Mitrade now holds licenses across six jurisdictions, including Australia’s ASIC and Cyprus’s CySEC, South Africa’s FSCA. The firm recently added Apple Pay and Google Pay to attract younger traders.