VT Markets Announces Acquisition of SCA License in the UAE
On Monday (August 18), CFD broker VT Markets announced the acquisition of its financial license issued by the watchdog in the UAE via social media platforms.
According to VT Markets, the broker has been granted a Category 5 license by the UAE Securities and Commodities Authority (SCA).
It is reported that brokers holding this kind of license may operate locally as introducers or tied-agents to promote their products and services, and refer business to relevant entities. However, brokers are not permitted to hold client funds or provide any form of securities trading.
In addition to the UAE, VT Markets also holds licenses issued by the Mauritius Financial Services Commission (FSC) and the South African Financial Sector Conduct Authority (FSCA).
BrokersView reminds you
The Securities and Commodities Authority (SCA) the federal regulatory body responsible for overseeing and regulating the the UAE's financial markets, particularly those dealing with securities and commodities.
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