London-headquartered multi-asset broker One Financial Markets has announced the opening of a new office at the Dubai International Finance Centre (DIFC), as it has received a new regulatory approval from the Dubai Financial Services Authority (DFSA), the regulatory authority for the independent jurisdiction.
The company, which recently incorporated a Hong Kong office, is commemorating its tenth anniversary this year. One Financial Markets reports that it now has over 30,000 clients across the Middle East and Asia.
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Andrew Henderson, SEO commented at the office opening: “Obtaining a full retail licence from one of the most highly respected regulatory bodies in the region is a landmark achievement for One Financial Markets. We are truly honoured to have our regional office in the Dubai Financial District. Dubai is the most active financial centre in the Middle East, with its strategic location linking East and West.
The financial legislative environment across the UAE, especially at DIFC, is no different in strength and sophistication to that of London. This has prompted our company to relocate its regional headquarters in the Emirate of Dubai. The UAE has made tremendous efforts in a record time to modernise legislation in line with recent developments in international financial markets, which is reflected on the ground by a significant increase in the number of brokerage firms that have arrived to launch their services in the country.”
Henderson also explained that the biggest challenge facing the sector is “the existence of active, fake ‘forex’ companies who launch continuous advertising campaigns and succeed in luring many victims. One of the key things when opening a trading account is to ensure you have opened with a company that is well regulated, established and segregates client funds.”