Exclusive: AvaTrade Secures Licence from Abu Dhabi
- The broker has secured a license from the ADGM Financial Regulatory Services Authority.
Foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts for difference (CFD) broker AvaTrade has revealed exclusively to Finance Magnates this Monday that it has secured a license from the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA).
AvaTrade Middle East Ltd (FSPN 190018), part of the Ava Group, has received the new license. In particular, ADGM has issued the FX broker with a full Category 3A license (No. 190018).
According to the statement provided by the firm, AvaTrade is the first broker ever to be issued such a license, as it allows the company to service both retail and professional clients. It is also the ninth global license received by the Group.
AvaTrade embraces regulatory change
Dáire Ferguson, the CEO of AvaTrade
Source: LinkedIn
Speaking to Finance Magnates, AvaTrade's CEO, Daire Ferguson, said: "As Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term continues to shape the future of our industry, AvaTrade clients can be confident of trading with a broker that embraces regulatory change as a strategic objective."
"Our licence under the ADGM is a further demonstration of this commitment to provide our clients with the safest and most secure trading environment everywhere on the planet."
As highlighted by the company in the statement seen by Finance Magnates, the new license will allow the Ava Group to strengthen its brand in the Middle East and, in particular, the United Arab Emirates.
"We are delighted to allow even more traders and business partners in the Middle East to enjoy everything we have to offer; from innovative technologies, state-of the-art mobile applications, Islamic accounts, lucrative affiliation programmes and superb trading conditions. This new ADGM regulation is yet another one of many exciting endeavours AvaTrade is pursuing," Ferguson explained in the statement.
The new Abu Dhabi office is located in the Abu Dhabi Global Market Square. Leading the company will be Senior Executive Officer, Mohamed Ahmed.
"Mohamed brings vast experience in the financial field, and we are certain he will be a true asset for the AvaTrade brand and our local clientele in the region," added Ferguson.
"As a global Manchester City FC partner, which is also headquartered in Abu Dhabi - it seems fitting for AvaTrade to establish a physical presence in Abu Dhabi and the UAE – as part of our longer-term strategic objectives for the Arabic region."
Foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts for difference (CFD) broker AvaTrade has revealed exclusively to Finance Magnates this Monday that it has secured a license from the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA).
AvaTrade Middle East Ltd (FSPN 190018), part of the Ava Group, has received the new license. In particular, ADGM has issued the FX broker with a full Category 3A license (No. 190018).
According to the statement provided by the firm, AvaTrade is the first broker ever to be issued such a license, as it allows the company to service both retail and professional clients. It is also the ninth global license received by the Group.
AvaTrade embraces regulatory change
Dáire Ferguson, the CEO of AvaTrade
Source: LinkedIn
Speaking to Finance Magnates, AvaTrade's CEO, Daire Ferguson, said: "As Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term continues to shape the future of our industry, AvaTrade clients can be confident of trading with a broker that embraces regulatory change as a strategic objective."
"Our licence under the ADGM is a further demonstration of this commitment to provide our clients with the safest and most secure trading environment everywhere on the planet."
As highlighted by the company in the statement seen by Finance Magnates, the new license will allow the Ava Group to strengthen its brand in the Middle East and, in particular, the United Arab Emirates.
"We are delighted to allow even more traders and business partners in the Middle East to enjoy everything we have to offer; from innovative technologies, state-of the-art mobile applications, Islamic accounts, lucrative affiliation programmes and superb trading conditions. This new ADGM regulation is yet another one of many exciting endeavours AvaTrade is pursuing," Ferguson explained in the statement.
The new Abu Dhabi office is located in the Abu Dhabi Global Market Square. Leading the company will be Senior Executive Officer, Mohamed Ahmed.
"Mohamed brings vast experience in the financial field, and we are certain he will be a true asset for the AvaTrade brand and our local clientele in the region," added Ferguson.
"As a global Manchester City FC partner, which is also headquartered in Abu Dhabi - it seems fitting for AvaTrade to establish a physical presence in Abu Dhabi and the UAE – as part of our longer-term strategic objectives for the Arabic region."