Exclusive: Eightcap Secures a New Dubai License

Melbourne-headquartered Eightcap, a forex and contracts for differences (CFDs) broker, has quietly acquired a Dubai regulatory licence that allows it to offer financial consultation and operate as an introducing broker, FinanceMagnates.com has learned.

Another Broker Enters Dubai

According to Dubai’s Securities and Commodities Authority (SCA) registry, the Category 5 licence has been granted to a locally registered entity, Eightcap Financial Services MENA, which was established in January 2025.

Eightcap has also registered a dedicated website for the Dubai entity, but it remains non-operational.

FinanceMagnates.com approached Eightcap to learn about its plans under the Dubai licence but has not received any response as of press time.

Interestingly, several other retail brokers, including EC Markets and Taurex, have recently received a Category 5 licence from the Dubai-based regulators. Under the licence, they can promote and sell their services in the UAE. However, it does not allow brokers to hold assets locally; rather, they can onboard traders under a non-UAE-licensed entity.

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Eightcap operates with licences in Australia, the United Kingdom, Cyprus, and the Bahamas. According to the broker's website, it is also incorporated in Seychelles.

Dubai Is Becoming a CFDs Hub

Dubai has become a popular jurisdiction among brokers who want to expand their operations in the Middle East. Established names like Plus500 and XTB also secured SCA licences, allowing them to offer CFD trading from their Dubai base.

Read more: IC Markets Seeks UAE License

Meanwhile, many new industry entrants have also selected Dubai as their operational hub. Recently, ANAX Capital launched its CFDs brokerage services under an SCA licence in Dubai and plans to expand further in the MENA region. Sky Links Capital, another Category 5-licensed retail broker launched by a former BDSwiss executive, established its corporate headquarters in Dubai. It operates under a Mauritius licence and has a registered entity in St. Vincent and the Grenadines.

Alexander Oelfke, the former CEO of BDSwiss, also launched Dubai-headquartered CFDs broker Tauro Markets with two other co-founders, David Dubrulle and Konstantin Oelfke.