Plus500 Obtians DFSA License in Dubai

Plus500, a leading global provider of online CFD trading services, has obtained a DFSA license in the Dubai International Financial Centre (DIFC) region, after acquiring local financial licenses through acquisitions or other approaches in several other regions/countries around the world, for a total of 12 licenses.

Plus500 already has a branch in the region and the company can now serve local clients in the UAE by acquiring this DFSA license.

The DFSA license is very popular for brokers looking to enter the Middle East market, as many well-known forex companies have applied for it. However, the DFSA has strict restrictions on the brokers it regulates, so obtaining this forex license is not easy. These restrictions include a ban on banking in local currency, which means that trading in UAE dirhams is prohibited.

“We are delighted to have received license authorization from the DFSA in the UAE, and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realization of our strategy to enter new markets, develop new products, and deepen engagement with our customers,” said the CEO of Plus500, David Zruia.

"We are really proud and excited to have obtained this new licence in the high-growth market of the UAE. The licence offers Plus500 a significant long-term commercial opportunity, as we aim to onboard a range of new customers across the UAE. Our efforts will be supported by Plus500’s unique proprietary technology, which underpins our on-going ability to attract and retain higher value customers, on a global basis, over the long-term," added Elad Even-Chen, Plus500's Group CFO.

Plus500 is a company that has invested heavily in technology and offers trading services only on its proprietary trading platform. The company's FY2022 report shows that its results last year were in line with expectations.