After its local subsidiary received a license in Dubai, XTB began offering regulated services to its customers in the Middle Eastern and North American (MENA) region. XTB is a Poland-listed forex and CFD broker.
XTB MENA Limited provides clients in the Middle East with trading services on more than 1900 instruments of foreign exchange and commodities contracts.
XTB’s services will be similar to its global services, which it provides on xStation and MetaTrader, as well as industry-standard platforms. The services for Middle Eastern clients, however, will be available in both Arabic and English.
A Strategic Expansion
XTB’s Global CEO Omar Arnaout remarked on the MENA launch, “XTB MENA plays a strategically significant role in our overall global development strategy.”
“Our clients’s confidence in our business is extremely critical to out business. We operate under the several regulatory authorities in the region and worldwide, ensuring a secure online trading experience for our clients locally as well as globally.”
In July, XTB MENA was granted a category three license from the Dubai Financial Services Authority (DFSA), allowing the Polish broker to enter the region. In addition, in August, the brokerage group appointed Achraf Drid as Managing Director of XTB MENA.
“We want to provide our clients in the Middle East region a local outlet for establishing credibility while also providing cutting-edge technology-backed solutions and assistance to help them achieve their investment goals. Clients will be able to trade multiple CFD stocks through our regional office, as well as receive educational assistance in making educated choices about their investments,” Drid added.
In addition, the firm is broadening its presence into other developing markets, and it recently after the South African Financial Sector Conduct Authority (FSCA) issued them with a received a regulatory license.