XS.com Obtains New Financial License in UAE

Forex and CFDs broker XS.com has announced the granting of a Category 5 license by the UAE Securities and Commodities Authority (SCA).

The new UAE entity, XStrade Financial Consultation LLC, will operate under this financial license within the SCA's regulatory framework, conducting Financial Consultations, Introduction and Promotion activities.

In July, XS.com partnered with NVEST, a subsidiary of Construction Group and Al Wataniya Group, to establish the new entity XS Online in Kuwait. In August, the broker obtained a financial license from the Financial Services Authority (FSA) of Mauritius.

To date, XS.com has secured regulatory authorizations across eight jurisdictions, including Australia, Cyprus, Seychelles, Malaysia, Kuwait, South Africa, and Mauritius.

VT Markets is another broker that obtained a Category 5 license from the UAE's SCA this year. Additionally, online financial services provider Exness recently secured a license from Jordan's Securities Commission (JSC) and opened a new office in the MENA.

BrokersView reminds you

The Securities and Commodities Authority (SCA) is the federal regulatory body responsible for overseeing and regulating the UAE's financial markets, particularly those dealing with securities and commodities.