Sun, October 02, 2022

Trade.com Gets License in Dubai, Eyes for US and Italy

Broker News

Trade.com, a fast-growing trading brand in Trade Capital Holding’s retail markets, has established a representative office in Dubai and obtained a new license from the Government of Dubai.

Roei Gavish, the Group CEO of Trade Capital Holding, said that their new Dubai office would help them develop business partnerships and collaborations in MENA and APAC. He believes that these regions hold great growth potential.

The trading group announced that it would expand globally and is seeking new licenses. It is expected to gain licenses from regulators in Italy and the United States by the end of 2022. The group is also launching services in India through a regulated joint venture.

 

Additionally, it sought a cryptocurrency exchange license but did not name any regulator or jurisdiction it is approaching. Trade.com has already been operating under various licenses and is regulated in the UK, Mauritius, South Africa, Cyprus, and Spain.

According to Gavish, the Trade.com group is expanding worldwide and aims to cover a network of global licenses by 2025 and become one of the few global fintech operators. He added that their motto was a global brand with a local face.

A Bootstrapped Company

The firm is also investing in improving its services and developing its own platforms and product portfolio in new areas. The platform includes; Robo advisor, digital banking, and regulated crypto offerings. It’s also concerned with improving traders’ mobile experience by using its own technology stack and openAI solutions.

To date, Trade.com has been bootstrapped and is now readying for institutional funding round by 2024.

Meanwhile, Trade.com has had remarkable performance over the past couple of years. Additionally, the UK branch reported a 114% rise in 2021 revenue and narrowed losses by 72%.

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