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City Index Expands in the Middle East, Gets UAE License

City Index, a leading UK Forex and CFD broker, is growing in the Middle East thanks to a license from the United Arab Emirates' central bank. According to a report by the Forex Magnates, the expansion will be under the FXSolutions brand – which has been long popular in the Middle East and North Africa (MENA) region.

 
What we can say about the license is that it gives the new branch of City Index the regulatory permission to provide online trading services, and Forex and CFD trading in particular, in the UAE. The licenses from the UAE have degrees alike the licenses given away from Hong Kong authorities and the Financial Services Commission (FSC) in the British Virgin Islands, to give a couple of examples. Amid the few brokers to have a full-blown license from the UAE central bank is ADS Securities – a major figure in the Forex field in the Middle East. 
 
City Index now enters a booming market, with a long history of trading – although the majority of traders in the region are accustomed to trading commodities like oil (surprise!). Over the past couple of years, however, Forex trading has enjoyed growth and there's nothing surprising about the fact that big Forex brokers like Saxo Bank, Swissquote and HY Markets have set foot in the Middle East (Dubai in particular). 
 
The new business adds to a raft of global establishments that City Index already has – these include offices in Poland, Singapore, China, Israel and Australia. Obviously the broker is aiming for the emerging markets, a gold mine for many, It's interesting to see how the regulatory stability and the variety of trading products offered by City Index and the appetite for Forex in the UAE combine. By the looks of it, the broker is set for success. 
 
 

About City Index

 
City Index is a leading provider of spread betting, CFD and Forex trading, regulated by the Financial Conduct Authority (FCA) in the UK. After being established in 1983, the company has grown and now employes more than 400 people worldwide in offices not only in the UK, but also in Poland, Singapore, China, Israel and Australia. The company offers its proprietary trading platform Advantage, which comes in a downloadable, web-based version and as an app for mobile devices. MT4 is also in the lineup. With a single trading account you get access to all of the platforms.
TAGS: city index  city index forex broker  uk forex broker  uae forex  uae central bank  united arab emirates  dubai  city index license  forex license  forex market  mena  forex regulation 

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