Crypto Exchange and Custodian DEX Gains UAE License
- The platform will launch its services in Q3 2020.

DEX, a digital asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, announced on Tuesday that it has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the United Arab Emirates (UAE).
The authorization will allow the platform to operate a regulated multilateral trading facility (MTF) and custody platform using virtual assets. DEX can now legally offer its services to both retail and accredited investors, trading firms, and institutions across the globe.
Per the press release shared with Finance Magnates, the regulated platform will allow trading of digital currencies with all major fiat currencies, along with local currencies of UAE and GCC.
The Abu Dhabi-headquartered company is now eying to launch its trading and custody services in the third quarter of this year.
"DEX aims to provide its clientele with a regulated trading and custodial ecosystem which we believe is the future of digital asset trading on a global scale," Smith added.
Becoming a multi-asset exchange
The company also revealed that it has future plans to secure further regulatory approval, covering additional asset classes, including digital securities, fiat tokens, options, and derivatives.
"The ADGM's rigorous and progressive approach to digital asset regulation provides the strongest possible foundations for launching an institutional-grade platform that meets the needs of today's participants. Obtaining this FSP as an MTF and custodian using Virtual Assets is a major milestone in our journey to provide a secure, regulated, and transparent platform covering a broad array of digital assets to our clientele," the CEO continued.
DEX, a digital asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, announced on Tuesday that it has secured a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the United Arab Emirates (UAE).
The authorization will allow the platform to operate a regulated multilateral trading facility (MTF) and custody platform using virtual assets. DEX can now legally offer its services to both retail and accredited investors, trading firms, and institutions across the globe.
Per the press release shared with Finance Magnates, the regulated platform will allow trading of digital currencies with all major fiat currencies, along with local currencies of UAE and GCC.
The Abu Dhabi-headquartered company is now eying to launch its trading and custody services in the third quarter of this year.
"DEX aims to provide its clientele with a regulated trading and custodial ecosystem which we believe is the future of digital asset trading on a global scale," Smith added.
Becoming a multi-asset exchange
The company also revealed that it has future plans to secure further regulatory approval, covering additional asset classes, including digital securities, fiat tokens, options, and derivatives.
"The ADGM's rigorous and progressive approach to digital asset regulation provides the strongest possible foundations for launching an institutional-grade platform that meets the needs of today's participants. Obtaining this FSP as an MTF and custodian using Virtual Assets is a major milestone in our journey to provide a secure, regulated, and transparent platform covering a broad array of digital assets to our clientele," the CEO continued.