CFD Broker VPFX Secures UAE Regulatory Approval

Dubai-based brokerage firm VPFX has obtained a Category Five license from the UAE Securities and Commodities Authority (SCA) for its subsidiary, VPFX Financial Services LLC. The authorization permits the company to conduct introduction and promotion activities within the UAE, though it falls short of the broader trading permissions granted under a Category One license.

In preparation for its regulatory milestone, VPFX appointed Evangeline Mauthe, a seasoned compliance executive with prior roles at Advanced Markets, Equiti Group, and Alpari, as its Head of Compliance and Money Laundering Reporting Officer. CEO Alpesh Patel emphasized the move as a "strategic step to strengthen our regulatory adherence as we expand our footprint in key markets."

VPFX, historically operating under an offshore Labuan license, has primarily targeted traders in India and select Far Eastern regions. The firm's website, vpfx.net, highlights its focus on forex and CFD offerings.