Financial and Business News

XM to Begin Using UAE Regulatory Approval from SCA

Tuesday, 02/12/2025 | 08:31 GMT by Damian Chmiel
  • The broker obtained a Category 5 licence from the Securities and Commodities Authority in Dubai back in September.
  • As FinanceMagnates.com exclusively reported, it planned to start using the license before the end of 2025.
Dubai UAE

Online trading firm XM has officially confirmed that it has obtained regulatory approval from the United Arab Emirates’ Securities and Commodities Authority (SCA), allowing the broker to operate in the country under a Category 5 license.

FinanceMagnates.com reported that the company obtained its accreditation in Dubai as early as September, when we suggested that the broker intended to start using it before the end of 2025, and that has now happened.

Regulatory Approval Expands XM Regional Reach

The license grants XM permission to offer its full suite of trading services to clients in Dubai and across the Emirates. The move deepens the company’s presence in the Middle East and reflects growing demand in the region for regulated retail trading platforms.

“The UAE has established itself as a world-class financial hub, and receiving authorization from the SCA underscores our commitment to long-term growth and trust in the region,” said Menelaos Menelaou, XM’s co-Chief Executive Officer.

The company said the new authorization would allow traders in the UAE to access its full ecosystem of trading products, educational content, and support services through its new Arabic- and English-language website at www.xm.ae.

The broker is celebrating its 15th year in business, and the move into new markets is a fitting way to cap that milestone.

Growing Competition in Local Brokerage Market

XM’s entry comes as more global brokers seek to serve clients in the UAE amid expanding financial infrastructure and investor interest. The SCA license aligns XM with other multinational brokers regulated in the region, offering local investors access to global markets through a domestic entity.

Exinity and VT Markets are among the firms that have gone down this route, alongside others such as Eightcap, EC Markets and Taurex.

A smaller group has chosen to seek Dubai’s full brokerage permission instead. Plus500, XTB and RoboMarkets are among the companies that have obtained the more extensive licence, which allows them to offer a broader range of services directly to clients in the market.

Brokers’ push into the Middle East is being fuelled by the chance to reach high-value clients across the region, particularly in the Gulf. Capital.com, for example, recently disclosed that 52 percent of its first-half trading volume came from the Middle East, compared with 15 percent from Europe, with 35,000 traders in MENA versus 61,400 in Europe.

Within that Middle Eastern flow, UAE clients stand out. Capital.com said that 71.7 percent of the 804.1 billion dollars in trading volume it handled in MENA came from traders based in the Emirates. Another regional player, CFI Financial, reported a record 1.51 trillion dollars in trading volume in the second quarter of 2025 alone, closing in on the 2.79 trillion dollars it processed over the whole of 2024.

XM serves over 15 million clients worldwide and offers more than 1,400 instruments across multiple trading platforms. The company operates under several international licenses and continues to emphasize compliance with local regulations in each of its markets.

Online trading firm XM has officially confirmed that it has obtained regulatory approval from the United Arab Emirates’ Securities and Commodities Authority (SCA), allowing the broker to operate in the country under a Category 5 license.

FinanceMagnates.com reported that the company obtained its accreditation in Dubai as early as September, when we suggested that the broker intended to start using it before the end of 2025, and that has now happened.

Regulatory Approval Expands XM Regional Reach

The license grants XM permission to offer its full suite of trading services to clients in Dubai and across the Emirates. The move deepens the company’s presence in the Middle East and reflects growing demand in the region for regulated retail trading platforms.

“The UAE has established itself as a world-class financial hub, and receiving authorization from the SCA underscores our commitment to long-term growth and trust in the region,” said Menelaos Menelaou, XM’s co-Chief Executive Officer.

The company said the new authorization would allow traders in the UAE to access its full ecosystem of trading products, educational content, and support services through its new Arabic- and English-language website at www.xm.ae.

The broker is celebrating its 15th year in business, and the move into new markets is a fitting way to cap that milestone.

Growing Competition in Local Brokerage Market

XM’s entry comes as more global brokers seek to serve clients in the UAE amid expanding financial infrastructure and investor interest. The SCA license aligns XM with other multinational brokers regulated in the region, offering local investors access to global markets through a domestic entity.

Exinity and VT Markets are among the firms that have gone down this route, alongside others such as Eightcap, EC Markets and Taurex.

A smaller group has chosen to seek Dubai’s full brokerage permission instead. Plus500, XTB and RoboMarkets are among the companies that have obtained the more extensive licence, which allows them to offer a broader range of services directly to clients in the market.

Brokers’ push into the Middle East is being fuelled by the chance to reach high-value clients across the region, particularly in the Gulf. Capital.com, for example, recently disclosed that 52 percent of its first-half trading volume came from the Middle East, compared with 15 percent from Europe, with 35,000 traders in MENA versus 61,400 in Europe.

Within that Middle Eastern flow, UAE clients stand out. Capital.com said that 71.7 percent of the 804.1 billion dollars in trading volume it handled in MENA came from traders based in the Emirates. Another regional player, CFI Financial, reported a record 1.51 trillion dollars in trading volume in the second quarter of 2025 alone, closing in on the 2.79 trillion dollars it processed over the whole of 2024.

XM serves over 15 million clients worldwide and offers more than 1,400 instruments across multiple trading platforms. The company operates under several international licenses and continues to emphasize compliance with local regulations in each of its markets.

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XM
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About the Author: Damian Chmiel
Damian Chmiel
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Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

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