EC Markets Adds UAE License to Its Global Regulatory Approvals Alongside FCA and ASIC

EC Markets secured a key license that allows it to operate fully in the country’s tightly controlled financial sector. The Securities and Commodities Authority (SCA) of the UAE has issued EC Markets a Category 5 license, which permits the broker to introduce clients, market its services, and provide a range of financial consultations within the country.

Regulatory Win in a Tightly Regulated Market

This development comes as global firms increasingly target the Middle East for its capital inflows and fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term innovation. Operating under SCA oversight places EC Markets in a select category of international brokers with legal backing to function in the UAE.

EC Markets already holds licenses from several major jurisdictions, including the UK’s Financial Conduct Authority (FCA), Australia’s ASIC, and South Africa’s FSCA.

“Securing the SCA licence is a strategic milestone for EC Markets,” said Matthew Smith, Chairman and CEO of EC Markets. “This approval reflects not only our commitment to the highest standards of compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term but also our ambition to deliver innovative, transparent, and reliable financial services.”

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The addition of the SCA license deepens the firm's regulatory footprint and positions it to respond quickly to client needs across different geographies. The company underwent a rigorous evaluation process for the license, supported by the legal team at Varnavas Playbell & Co. LLC.

Middle East Becomes New Focus

With its new license, EC Markets joins a growing list of international firms seeking to embed themselves in the Gulf’s evolving financial ecosystem.

More brokers have been expanding their services in the Middle East. ICM.com recently obtained its second license in the region.

According to the company, ICM MENA, a subsidiary of ICM.com, was given the Securities and Commodities Authority license by the authorities in Dubai.

Early this year, EC Markets renewed its exclusive FX partnership with Judd Trump, the preeminent figure in the world of snooker. The extended agreement signified an important step in EC Markets’ effort to elevate its global presence while deepening engagement with key markets, particularly in Asia.

“Together, EC Markets and I have accomplished great things. I’m excited to see what new milestones we’ll reach in this chapter of our partnership,” commented Judd Trump.