NCM Receives FCA Approval Amid Expansion Efforts

NCM, a Kuwait-based brokerage, has achieved a major milestone with the recent authorization of its UK subsidiary, NCM Financial UK Ltd, by the Financial Conduct Authority (FCA). This authorization, granted on July 22, 2024, confirms that NCM UK meets the FCA's standards for financial operations and consumer protection.

This license allows the firm to offer a range of financial services in the UK, including those related to forex, commodities, and precious metals.

The approval follows NCM's establishment of the UK subsidiary in late 2021 and its subsequent application for FCA licensing in 2022. The firm has invested £3.75 million into the UK brand, signaling a strong commitment to its expansion in the UK market.

Additionally, NCM UK has begun recruiting key personnel, including Richard Wynn, who has been appointed as Chair of the Governing Body, and Simon Henry, who will serve as Executive Director and Compliance Director.

Originally established in 2009, NCM operates primarily in the MENA region and has a significant presence in Kuwait, Jordan, Turkey, and Malaysia. The company, which is a key holding of Eshraq Investments' Goldilocks Fund, also manages the Noor Capital Markets brand.