Equiti Secures OTC License from UAE Securities and Commodities Authority

Equiti has become one of the first global brokers to be granted with an OTC Derivatives and Foreign Exchange Spot Markets license by the UAE Securities and Commodities Authority (SCA). Equiti Securities Currencies Brokers LLC is a subsidiary of the Equiti Group, a world-class provider of multi-asset financial products and online trading technology.

This newly introduced activity is for licensing Over-The-Counter (OTC) Derivatives and Foreign Exchange Spot Markets under Category One of SCA's Regulations Manual of the Financial Activities – or 'licensing rulebook'.

​"Equiti is thrilled to be one of the first global brokers to be awarded this new category license by the UAE's Securities and Commodities Authority,"Iskandar Najjar, Co-founder and CEO of Equiti Group, said."Our vision is to create a best-in-class client experience and regional oversight by the UAE's global standard of regulation is core to achieving this. Equiti Group is extremely pleased to contribute to the UAE's flourishing success and its progressively developing financial sector."

Mohamed Al-Ahmad, CEO of Equiti Securities Currencies Brokers LLC, and Co-founder of Equiti Group, added: "With the addition of our new UAE SCA license, our clients in the region can be confident that they are dealing with one of the most well-regulated and progressive brokers in the Middle East."

"We are proud to be operating in the UAE, a market that is committed to world class regulation and implementing global best practices, and that shares our values about environmental concerns, social responsibility, and good governance."

Equiti Group's UAE entity currently employs over 80 specialists with talented members of its data, business development, product and innovation, sales, regional client service and retail operations teams who support its evolving global business from Dubai in English or Arabic.

Regulation and compliance are a key part of Equiti Group's global growth strategy. Equiti's new SCA license will fortify the company's international trajectory as the Group continues to apply for new licenses in various global locations to enter new markets with the right governance in place.