Pepperstone Appoints New Leadership for Middle East Expansion

Pepperstone has named two senior executives to lead its Middle East operations, the broker announced today. Mohammed Almadhoun joins as Head of Middle East, and Osama Hamdan becomes Head of Sales, continuing the firm's build-out in the UAE following its Dubai office launch last year.

Almadhoun previously served as Sales Director at Equiti Group and spent eight years at ADSS in leadership roles. He will oversee regional operations and growth strategy. Hamdan was most recently Director of Business Development at XTB and has held senior positions at Axi and ADSS. He will lead regional sales strategy, including business development and client acquisition.

Both executives will report to Marc Boever, Pepperstone's Head of EMEA. The hires, from rival brokers Equiti and XTB, reflect ongoing competition for talent in the region. Pepperstone stated the appointments are aimed at supporting its expansion across the GCC and wider MENA region.

The moves follow Pepperstone's entry into the UAE in December 2025, when it secured a Category 5 licence from the Capital Markets Authority and opened an onshore office in Dubai. This licence allows marketing and limited advisory activities for professional clients, with trade execution handled by an offshore entity.

Pepperstone joins a growing list of brokers holding the UAE Category 5 licence, including XM, Exinity, and Vantage Markets. Licence applications rose 18 percent in the first nine months of 2025 year-on-year, according to the regulator.

The Middle East is a key revenue source for CFD brokers. Capital.com reported 52 percent of its H1 2025 trading volume came from the MENA region, with UAE-based traders accounting for nearly three-quarters of that flow.

Founded in Melbourne in 2010, Pepperstone is regulated by ASIC, the FCA, CySEC, BaFin, and the DFSA, in addition to its UAE licence.