Kudotrade Gains Preliminary UAE CMA Approval, Establishes Dubai Presence

Kudotrade has obtained initial regulatory approval from the UAE's Capital Markets Authority (CMA) and has opened an office in Dubai. The move places the Mauritius-licensed brokerage among numerous CFD firms seeking a foothold on the Emirates' mainland. The company also announced the acquisition of the Kudo.com domain, which will serve as its primary brand identity.

The CMA, renamed from the Securities and Commodities Authority earlier this year, has become a highly sought-after regulator in global retail brokerage. The rush for UAE licenses intensified in 2026, with Mitrade, PU Prime, Empire Markets, and Finalto all securing approvals. XTB upgraded its license to full Category 1 and 2 status in April. The structural appeal lies in the CMA's permission for licensed brokers to market services across all seven emirates, integrate with local banks for AED settlement, and operate outside free-zone limits.

Category 5 capital requirements are set at AED 500,000, significantly lower than the AED 30 million required for a full Category 1 broker-dealer license. This economic gap, coupled with a growing expatriate trading base, has created a queue of applicants. Firms already holding CMA licenses include XM, Exinity, VT Markets, Eightcap, EC Markets, Pepperstone, Taurex, Capital.com, PrimeX Capital, and Bybit. The regulator reported an 18% year-on-year increase in license applications for the first nine months of 2025.

Kudotrade is a relatively new brand, established in 2024. It has hired several executives from Cyprus-based brokers and expanded into proprietary trading with the September 2025 launch of "Kudo Funded," a challenge-based product offering up to $200,000 in capital. Finley Wilkinson, who joined as chief marketing officer, is now confirmed as chief operating officer. The company's CFO is Stathis Flangofas, formerly of Capital.com and HFM.

Wilkinson stated the Dubai office "represents more than just a geographic expansion," calling the UAE "a natural home" for the company's next phase. The firm did not disclose headcount plans, a timeline for converting the initial approval into a full license, or anticipated capital deployment.

It is important to note that an initial CMA approval is a preliminary step toward full licensing and does not permit a firm to onboard UAE residents. Kudotrade cannot legally market or sell trading services to retail clients in the country through the new entity until it completes all authorization steps and receives a category-specific license. In contrast, brokers like Mitrade, PU Prime, and Empire Markets already hold issued Cat 5 licenses, while others like XTB and Capital.com operate under higher-tier authorizations.