Poland’s XTB is increasing its presence in the United Arab Emirates, as the broker received Category 1 and Category 2 licences there, which will allow it to locally onboard clients and execute trades.
Announced today (Friday), the broker highlighted that the two licences would allow it to offer “more advanced investment products” locally to UAE traders in the future.
The Future Is in the Middle East
Notably, XTB has had a presence in the UAE for years - it has been operating under a licence granted by the Dubai Financial Services Authority (DFSA) since 2021 and obtained a Category 5 licence from the Capital Markets Authority (CMA) in 2024.
Although the Cat 5 licence allowed the broker to offer its services locally as a mainland company, it could only market and promote products offered locally. This means the licence is more like an introducing broker model, which only allows brokers to promote products of an offshore entity and onboard clients under that entity.
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“Receiving authorisation from the CMA is an important development for our business in the region,” said Achraf Drid, Managing Director, XTB MENA. “It enables us to operate with greater proximity to our clients while adhering to one of the most respected regulatory environments globally.”
“The UAE has created a highly attractive ecosystem for financial services firms, combining regulatory clarity with long-term economic vision. This is a market where we see sustained opportunity, and where we intend to build for the future.”
Read more: XTB MENA Chief Says Dubai Bet Survived Its First Real Stress Test
A New Hub for CFD Brokers
FinanceMagnates.com earlier highlighted that most brokers entering the UAE are opting for the Category 5 licence, as it has a much lower entry barrier and capital requirements. Dozens of CFD brokers have entered the country, securing the Cat 5 licence.
However, a handful, including Plus500, Deriv, and RoboMarkets, as well as some local firms, have become full brokers in the UAE. Recently, FXTM also revealed its intention to upgrade its Cat 5 licence to a Cat 1 licence in the country.
