FxPro, a well-established European forex and CFD broker, has obtained a license from the Dubai Financial Services Authority (DFSA) and will open an office in Dubai shortly, reports LeapRate.
According to the report, FxPro is planning to set up something more of a mere office in Dubai to serve its clients in the United Arab Emirates, where it already has a well-established presence and would move there some of its main operations, such as payments.
It is expected that the official announcement on the new license will be made by the end of this month.
So far FxPro has had two major European licenses – from UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), as well as a license from South Africa’s Financial Services Board (FSB). FxPro also has a registration with Germany’s BaFin, France’s ACPR, Spain’s CNMV and 25 other regulating authorities.
The broker serves both retail and institutional clients from over 150 countries and has an extensive portfolio including forex pairs and CFDs on futures, indices, shares, spot metals and spot energies. It operates as a Hybrid Agency Model broker, offering Negative Balance Protection and enabling clients to access top-tier liquidity.
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