Exclusive: Exinity and VT Markets Secure Category 5 Licence in Dubai

Exinity and VT Markets are the latest names in the contracts for differences (CFDs) space to obtain Category 5 licences from Dubai’s Securities and Commodities Authority (SCA), FinanceMagnates.com has learned.

While VT Markets runs a CFD brokerage under the same brand, Exinity operates several brands, including the well-known CFD-focused FXTM. Owned by Andrey Dashin, Exinity appears to have dropped the Alpari brand from its group, which now operates only with a Comoros licence.

Read more: Alpari Brand Seems to Have Quietly Left Exinity

Focus on Middle East Traders

The SCA registry confirms that Exinity and VT Markets recently received the Dubai licence. The footer of both companies’ websites now displays the SCA authorisation, which was not present last month, according to archived versions on the Wayback Machine.

Under the Category 5 licence, brokers may operate in a similar way to introducing brokers (IBs) in Dubai. They are permitted to promote their services to potential customers in the UAE and direct them to be onboarded under their non-UAE entities.

However, Category 5 licence holders are not authorised to hold client funds locally or execute trades—activities that require a Category 1 licence.

Both Exinity and VT Markets already hold multiple other regulatory licences to operate their CFD brokerage businesses. Exinity, for example, holds licences in Kenya, Mauritius, South Africa, Abu Dhabi, and the United Kingdom. Likewise, VT Markets operates internationally with authorisations in Mauritius and South Africa, among others.

Dubai’s Growing CFD Market

The Category 5 licence has quickly become a popular choice among brokers. FinanceMagnates.com previously reported that Eightcap, based in Melbourne, also obtained the Dubai licence, enabling it to offer financial consultancy services and act as an introducing broker. EC Markets and Taurex are among other CFD brokers that have received the same authorisation.

Several brokers are now also seeking a full Category 1 brokerage licence from the SCA. Plus500 and XTB are two recognised names that have secured this type of licence, allowing them to offer CFD trading directly from their Dubai operations.

IC Markets is another notable broker working towards obtaining a local licence to strengthen its presence in the Middle East.

Meanwhile, proprietary trading platforms are showing increasing interest in becoming introducing brokers, with many already receiving brokerage licences. Recently, FinanceMagnates.com reported MyFunded Futures’ move to obtain authorisation from the US CFTC to act as an introducing broker.

The growing focus on the Middle East by CFD brokers is understandable, considering the surge in demand across the region. MENA-focused broker CFI Financial Group recently announced that trading volume on its platform reached $1.51 trillion in the second quarter of 2025, compared to its total trading volume of $2.79 trillion in 2024. Capital.com also reported that 53 per cent of its Q1 trading volume originated from the Middle East, compared to 24 per cent from Europe.