ThinkMarkets Obtained Dubai's License

ThinkMarkets, a broker based in Melbourne, has recently acquired a license from the Dubai Financial Services Authority (DFSA) after establishing a subsidiary in the Dubai International Financial Center (DIFC).

This licensing achievement enables ThinkMarkets to offer its range of FX and CFDs products not only to clients in the UAE but also opens up opportunities for expansion into other GCC states like Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and North Africa.

Positioned within the financially independent federal zone of the Dubai International Financial Centre (DIFC), ThinkMarkets can leverage its new license to tap into the growing market in the UAE and the broader MENA region in a regulated and secure manner. The DFSA, overseeing Forex Broker licenses and financial services within the DIFC, has observed increased interest from global brokers looking to provide FX trading to retail customers in or originating from the DIFC.

Expressing excitement about the development, Faizan Anees, Co-Founder of ThinkMarkets, conveyed that the company is thrilled to have acquired the DFSA license. He emphasized that the UAE and wider MENA region signify a high-growth market, and the obtained license will enable ThinkMarkets to onboard new clients from this area in a regulated and secure manner.

Anees emphasized ThinkMarkets' dedication to delivering an outstanding trading experience through its proprietary platform ThinkTrader, a wide range of trading instruments, and adherence to regulatory standards. The DFSA license is viewed as a strategic move to enhance customer service and expand ThinkMarkets' presence in key markets in the region.

The DFSA, responsible for issuing Forex Broker licenses and regulating financial services in the DIFC, imposes strict guidelines for obtaining a Dubai forex license. Compliance with anti-money laundering (AML) regulations is a primary requirement, and brokers must implement robust systems and controls, including intra-day and end-of-day counterparty and settlement limits, segregation of functions, and other risk management measures.

ThinkMarkets recently made headlines for calling off its proposed merger with Canada-listed blank check company, FG Acquisition Corp. The abandoned merger, valuing ThinkMarkets at $160 million on a pre-money basis, followed the firm's $62 million revenue generation in 2022.