XTB, a Poland-listed forex and CFDs broker, has launched regulated services for clients in the Middle Eastern and North African (MENA) region after its local subsidiary received a license in Dubai.
According to the press release shared with Finance Magnates, XTB MENA Limited is offering clients in the region trading services with more than 1900 instruments of forex and CFDs of other asset classes.
The services will be similar to XTB’s global offerings as it is offering services on proprietary trading platform xStation and industry-standard MetaTrader. However, the services to MENA clients will be available in both Arabic and English.
A Strategic Expansion
Commenting on the MENA launch, XTB’s Global CEO Omar Arnaout said: “XTB MENA plays a strategically significant role in our overall global development strategy. The absolute trust of our clients is paramount to the business, and we are extremely proud to operate under the multiple regulatory authorities within the region and globally, providing a secure online trading experience to our clients regionally as well as globally.”
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XTB MENA received a category three license from the Dubai Financial Services Authority (DFSA) in July that paved the way for the Polish broker to enter the region. In addition, the broker group appointed Achraf Drid as the Managing Director of XTB MENA.
“With XTB MENA, we aim to provide a local outlet to our clients in the MENA region to enhance trust, while providing superior technology-backed solutions and support to help them achieve their investment goals. Through our regional office, our clients will have access to trade multiple CFDs stocks to expand their portfolio and educational support to make informed decisions,” Drid added.
Furthermore, the Polish broker is expanding into other emerging markets and recently secured an operational license from the South African Financial Sector Conduct Authority (FSCA).