Leverate, an Israeli technology provider to the trading industry, has expanded its geographical reach by opening a new office in Dubai, United Arab Emirates. The company already has offices in Tel Aviv, London, Shanghai, Bucharest, and Limassol.

A Strategic Move for Leverate

According to the company’s announcement today (Wednesday), the new office has been established in response to the growing demand for Leverate’s services in the GCC and Asian markets. Dubai is also a strategic location, as it is becoming a financial hub with the physical presence of many financial services companies. Leverate will make its Dubai office its operational hub in the region, offering services like business development and sales. The company further highlighted that the new office will help it interact more closely with existing and potential clients.

“The opening of our new office in Dubai demonstrates our commitment to the UAE market and our dedication to providing our clients with the best possible service and support,” Shmulik Kordova, Leverate's Chief Commercial Officer, said.

Meanwhile, many other companies in the trading industry are also expanding their presence on the ground, and Dubai is emerging as the first choice. B2Broker, another technology provider, recently opened its third office in Dubai with an investment of $3.5 million. MahiMarkets and Match-Prime also opened their first Dubai offices earlier this year.

Among the brokers, Doo Group and CFI were the ones to open Dubai offices in recent months, while Capital.com expanded its presence in the region with a new UAE license.

Leverate’s Prop Bet

Leverate, which has existed since 2008, offers technology to financial services companies, especially brokers, for trading forex, contracts for differences (CFDs), and crypto. It also entered the prop trading space last year with the launch of a specific turnkey solution. The timing was perfect, as the company benefited earlier this year from MetaQuotes' crackdown on prop firms.

“I’m sure that 2024 is going to be a very strong year for prop trading firms. This is why we also put a lot of resources into it,” Leverate’s Co-Founder and CEO, Ran Strauss, told Finance Magnates in an interview.