Melbourne Broker Eightcap Secures Dubai Regulatory Licence
In an exciting development for the financial services sector, Melbourne-headquartered Eightcap has successfully acquired a Dubai regulatory licence. This allows the forex and contracts for differences (CFDs) broker to expand its services in the Middle East, offering financial consultation and operating as an introducing broker. This strategic move consolidates Eightcap’s position in the increasingly competitive landscape of forex trading.
Expanding Horizons
According to the Dubai Securities and Commodities Authority (SCA) registry, the newly acquired Category 5 licence was granted to Eightcap Financial Services MENA, a locally registered entity that was established in January 2025. This regulatory approval marks a significant milestone for the firm, enabling it to broaden its footprint in a rapidly growing market.
Interestingly, while Eightcap has registered a dedicated website for its Dubai entity, the site is currently non-operational. This suggests that the firm is in the preparatory stages of launching its services, and it will be intriguing to see how they roll out their offerings once the site becomes active.
The Competitive Landscape
In a broader context, Eightcap is not alone in this strategy. Multiple retail brokers, including EC Markets and Taurex, have also acquired similar Category 5 licences recently. While these licences allow for the promotion and sale of services in the UAE, it’s vital to note that they do not permit brokers to hold assets locally. Instead, traders can be onboarded under a non-UAE-licensed entity, limiting client asset management options.
FinanceMagnates.com reached out to Eightcap for insights regarding their specific plans under the Dubai licence but has yet to receive a response. The anticipation surrounding their intentions is palpable, especially as more firms flock to Dubai’s lucrative market.
Eightcap’s Global Reach
Eightcap is not a newcomer to the global trading scene; it operates under several licences across Australia, the United Kingdom, Cyprus, and the Bahamas. It also has incorporation in Seychelles. This existing regulatory framework provides Eightcap with a solid foundation as it ventures into Dubai, a hub that increasingly attracts trading businesses and investors.
Dubai: The New CFDs Hub
Dubai has become an increasingly attractive jurisdiction for brokers looking to carve out a niche in the Middle East. Reputable names like Plus500 and XTB have already secured their SCA licences, enabling them to offer CFD trading from their Dubai base. The inflow of established and new industry entrants into Dubai reinforces its status as a burgeoning hub for trading activities.
Recently, ANAX Capital has joined the ranks, launching its CFD brokerage services under an SCA licence and signaling plans for expansion across the MENA region. Likewise, Sky Links Capital, established by a former BDSwiss executive, has set up its corporate headquarters in Dubai and operates under a Mauritius licence, with further ties to St. Vincent and the Grenadines.
Notably, Alexander Oelfke, the former CEO of BDSwiss, has also launched Tauro Markets, a Dubai-headquartered CFD broker in collaboration with two co-founders. This influx of brokers into Dubai underscores the jurisdiction’s appeal as a strategic base for trading firms.
Conclusion
The acquisition of a Dubai regulatory licence by Eightcap signals its intentions to become a competitive player in the Middle Eastern financial market. With an evolving landscape filled with both established firms and newcomers, the stage is set for a vibrant trading ecosystem in Dubai. As Eightcap prepares to unveil its operations, the excitement surrounding its entry into this dynamic market adds another layer to the ongoing narrative of brokers navigating global opportunities.
