The broker has obtained a Category 5 licence from Dubai’s Securities and Commodities Authority.
It plans to start using the licence before the end of 2025.
Opus Tower in Business Bay where XM's Dubai office is.
XM, a major name in the contracts for differences (CFDs) brokerage industry, has expanded into the Middle East and secured a Category 5 licence from Dubai’s Securities and Commodities Authority (SCA), FinanceMagnates.com has learned.
The broker is planning to start using the licence before the end of 2025.
The regulatory register shows that the licence was granted to the locally formed entity, XM Financial Products Promotion, which was established in January this year.
The broker also established its Dubai office in the city’s iconic Opus Building at Business Bay.
Details of XM' SCA license on the regulator's website
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.
According to XM, the Category 5 licence better aligns with its business model—it only wants to promote products and services to the UAE market. However, it has kept the option open to apply for a Category 1 licence in the future.
Interestingly, XM is already regulated in Dubai, but by the Dubai Financial Services Authority (DFSA), which oversees companies operating from the city’s free-trade zone.
The broker holds other licences from regulators in Cyprus, Belize, Seychelles, Mauritius, and South Africa. Trading.com, which is a sister brand of XM, is also regulated in the US, the UK, Cyprus, and Australia.
Deep-Pocket Traders Are Attracting Brokers to Dubai
Several other brokers recently obtained Dubai’s SCA licence, though most opted for Category 5, which enables them to operate as introducing brokers. Exinity, VT Markets, Eightcap, EC Markets, and Taurex are among those with a Category 5 licence.
However, a few names, including Plus500, XTB, and RoboMarkets, went for Dubai’s full brokerage licence.
Brokers’ interest in the Middle East is being driven by the opportunity to tap into the region’s high-value traders. Capital.com recently reported that 52 per cent of its H1 trading volume came from the Middle East, compared to 15 per cent from Europe. The broker had 35,000 MENA traders compared with 61,400 in Europe.
Furthermore, 71.7 per cent of Capital.com's $804.1 billion in trading volume in MENA was generated by UAE-based traders.
CFI Financial, another Middle East-focused CFDs broker, handled a record $1.51 trillion in trading volume during the second quarter of 2025. In comparison, the broker’s trading volume for the entire year of 2024 was $2.79 trillion.
XM, a major name in the contracts for differences (CFDs) brokerage industry, has expanded into the Middle East and secured a Category 5 licence from Dubai’s Securities and Commodities Authority (SCA), FinanceMagnates.com has learned.
The broker is planning to start using the licence before the end of 2025.
The regulatory register shows that the licence was granted to the locally formed entity, XM Financial Products Promotion, which was established in January this year.
The broker also established its Dubai office in the city’s iconic Opus Building at Business Bay.
Details of XM' SCA license on the regulator's website
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.
According to XM, the Category 5 licence better aligns with its business model—it only wants to promote products and services to the UAE market. However, it has kept the option open to apply for a Category 1 licence in the future.
Interestingly, XM is already regulated in Dubai, but by the Dubai Financial Services Authority (DFSA), which oversees companies operating from the city’s free-trade zone.
The broker holds other licences from regulators in Cyprus, Belize, Seychelles, Mauritius, and South Africa. Trading.com, which is a sister brand of XM, is also regulated in the US, the UK, Cyprus, and Australia.
Deep-Pocket Traders Are Attracting Brokers to Dubai
Several other brokers recently obtained Dubai’s SCA licence, though most opted for Category 5, which enables them to operate as introducing brokers. Exinity, VT Markets, Eightcap, EC Markets, and Taurex are among those with a Category 5 licence.
However, a few names, including Plus500, XTB, and RoboMarkets, went for Dubai’s full brokerage licence.
Brokers’ interest in the Middle East is being driven by the opportunity to tap into the region’s high-value traders. Capital.com recently reported that 52 per cent of its H1 trading volume came from the Middle East, compared to 15 per cent from Europe. The broker had 35,000 MENA traders compared with 61,400 in Europe.
Furthermore, 71.7 per cent of Capital.com's $804.1 billion in trading volume in MENA was generated by UAE-based traders.
CFI Financial, another Middle East-focused CFDs broker, handled a record $1.51 trillion in trading volume during the second quarter of 2025. In comparison, the broker’s trading volume for the entire year of 2024 was $2.79 trillion.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
From Volumes to Regulation: Patterns Shaping the Online Trading Industry
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
