Global multi-asset fintech group Plus500 has secured regulatory license approval from the Dubai Financial Services Authority (DFSA).
Through its subsidiary, Plus500AE, situated in the Dubai International Financial Centre (DIFC), the FTSE 250 listed company aims to leverage this license to offer a more localized and user-friendly experience to the dynamic UAE market, which boasts over 25 million registered customers globally.
The new license opens doors for Plus500AE to provide tailored services to prospective customers in the UAE’s online trading sphere, enhancing its reputation for innovation, diverse offerings, and customer-centric approach. This development includes the integration of local payment methods and customized versions of the Plus500 trading platform, website, and mobile app.
Traders in the UAE can now engage in Over the Counter (OTC) or Contracts for Difference (CFD) products through the proprietary tech-based trading platform.
One of the significant advantages for UAE traders is the platform’s advanced analytics, offering real-time data, charting tools, and technical indicators for informed trading decisions. The mobile accessibility on both iOS and Android smartphones and tablets further adds to the convenience for users.
The establishment of Plus500AE as a subsidiary in the UAE reinforces the Plus500 group’s regulatory framework and aligns with its portfolio of regulatory licenses in key markets globally, including the United Kingdom, Australia, Cyprus, Singapore, the United States, and Japan.
Recent trends released by the DFSA indicate the extraordinary growth of the Middle East’s online trading industry, projected to reach a value of US$1 trillion by 2025. This surge is attributed to the common trading of assets like stocks, commodities, currencies, and cryptocurrencies.
It is worth noting that the company typically offers CFDs on various cryptocurrencies, including Bitcoin, Ethereum, and a few others. However, it’s essential to highlight that the press release did not provide specific details regarding whether the company is authorized to provide these services under their UAE license from the DIFC.
