XM strengthens UAE credentials with SCA license

XM continues its global march after receiving a license from the Securities and Commodities Authority (SCA) of the United Arab Emirates.

The authorization allows XM to provide a full suite of trading products through a UAE-focused website available in Arabic and English.

Key conclusions

• XM has received a Category 5 license from the UAE SCA with license number 20200000322.
• In 2019, the broker was approved by the Dubai Financial Services Authority (DFSA) under license number F00348.
• The SCA and DFSA are Yellow Level Authorities in the DayTrading.com Regulators Directory, providing robust regulatory oversight, particularly for clients in the Middle East.

Menelaus Menelaus, XM’s Co-Chief Executive Officer, commented: “The UAE has established itself as a world-class financial center and receiving approval from the SCA underlines our commitment to long-term growth and confidence in the region.”

Menelaus added: “We are proud to offer UAE customers the same award-winning service and high standards of transparency that define XM around the world.”

About XM

XM is a MetaTrader 5 broker with over 15 million clients and licenses in Europe, Australia and the Middle East.

It has proven popular among active traders with over 1,000 tools including turbo promotions, zero account spreads from 0.0 pips with no requotes and bounces, and 24/7 support available in 25+ languages

New customers can open an XM account with a minimum deposit of $5.

Risk Warning: The Services involve significant risk and may result in the loss of your invested capital. Terms and conditions apply.

XM is a globally recognized forex and CFD broker with 15+ million customers in 190+ countries. Since 2009, this trusted broker has been providing low trading fees on its growing list of over 1,000 instruments. It is also heavily regulated, including ASIC, CySEC and the DFSA and SCA in the UAE, and offers a complete MetaTrader experience.