- UAE will be a launchpad for further growth across MENA and Asia -
- Global fintech firm wins full regulatory approval from UAE Securities and Commodities Authority to deal in securities in UAE -
UNITED ARAB EMIRATES / ACCESSWIRE / April 3, 2024 / Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed USD$1trn in 2023, has announced that it is joining the UAE's #NextGenFDI initiative for digitally-enabled businesses as it opens a new subsidiary, Capital Com MENA Securities Trading LLC (Capital Com MENA), based in the UAE. The new entity will be the operating headquarters for the region as the firm consolidates its position in the UAE market and as it looks to expand across MENA and Asia. The announcement comes after the company last week received full regulatory approval from the UAE Securities and Commodities Authority (SCA).
Kypros Zoumidou, Group Chief Executive Officer, Capital.com, said:
"Capital.com's foray into the UAE marks an important development in our global growth trajectory. As a cutting edge fintech company regulated across multiple jurisdictions, the UAE was a natural choice for our first subsidiary in the region. With its business-friendly ecosystem, supportive market-entry requirements, flourishing knowledge-based economy, and perfect location as a base for wider expansion, the UAE continues to cement its position as a dynamic tech hub for innovative companies with global ambitions. We look forward to joining the #NextGenFDI community."
HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said:
"The UAE is attracting world-class technology companies with bold growth plans and global ambitions. These businesses recognise that the UAE offers not just one of the most vibrant ecosystems in the world, but also serves as an access point to expanding regional economies and the high-growth markets of Asia and Africa. Our #NextGenFDI programme continues to draw top global firms and is becoming an essential pillar as the UAE seeks to attract capital in all its forms - technological, human and financial. Companies like Capital.com are helping us to secure our position as one of the world's most dynamic, future-focused global hubs."
Capital.com is set to become a leading member of the UAE's #NextGenFDI Programme, a government-led initiative enabling cutting-edge companies from around the world to establish and expand their operations in the UAE. In 2022, the company was a sponsor of the UAE's NextGenTalent initiative, which was aimed at developing the capabilities of local youth and preparing future leaders in the technology sector. NextGenTalent brought together 5,000 students from Emirati universities to learn essential advanced technology skills from industry leaders from the likes of META, Oracle, Amazon, Google, Microsoft, and Stripe. Under the NextGen FDI Programme, Capital.com will not only benefit from the UAE's robust tech ecosystem, but also its deep talent pool. Capital.com was also one of the sponsors of the Ministry of Economy's activities at the inaugural COP 28 Trade Day last December.
Located in Emirates Tower in Dubai, Capital Com MENA will be headed by Tarik Chebib, CEO of Capital.com, Middle East. Commenting on the newly acquired SCA license Mr Chebib, said:
"SCA applies enhanced levels of regulation to the UAE securities market, making it one of the most comprehensive and well-respected regulators in the world.The approval of our licence affirms our commitment to meet the highest compliance standards worldwide, marking yet another important milestone in the strategic development of Capital.com as a fast-growing, regulated trading platform. Known for our award-winning UX, trading education support and transparent pricing, we are excited to bring our services to the dynamic, tech-savvy UAE market. We also plan to harness technology to promote greater financial literacy across the MENA region, helping traders develop their understanding of financial markets and make better informed decisions-this is central to our DNA."
Capital.com's foray into the UAE is supported by the company's strong growth results in recent years. Last year, the company's total client trading volumes surpassed USD$1trn for the first time - 43% higher than the previous year. As a result of impressive year-on-year growth, Capital.com was ranked among the 50 fastest growing technology companies at the 2023 Deloitte Technology Fast 50 Middle East & Cyprus Awards.
Capital.com enables clients to trade derivatives on more than 3,000 of the world's most popular indices, commodities, cryptocurrencies, shares and currency pairs. In addition to its web and mobile-based platforms, Capital.com also provides clients with access to free education and trading tools to help them hone their trading knowledge. As a global fintech company with offices in London, Dubai, Limassol, Melbourne, Warsaw and Vilnius, Capital.com is guided by a sustainability-led startup framework, prioritising smart partnerships with the public and private sector to help drive progress and sustainable growth.
For information about Capital.com, visit https://capital.com/about-us.
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Notes to Editors
About Capital.com
Capital.com is a high-growth fintech company empowering people to participate in financial markets through simple and innovative online trading platforms. Launched in 2016, its intuitive award-winning platform -available on web and app -enables investors to trade thousands of world-renowned markets. To help investors trade with confidence, the platform is fitted with robust risk management controls, transparent pricing and extensive educational content to support clients in their investment journeys.
Capital.com has a global network with offices located in Cyprus, UK and Australia. Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 793714. Capital Com SV Investments Limited is Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised to carry out Securities Business by the Securities Commission of The Bahamas with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.
To find out more, please visit: www.capital.com
This press release is for media use only. It's not intended for individual investors, and doesn't include personal advice or recommendations.
DISCLAIMER
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.01% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd. Spread bets are available only to UK clients.
The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
Capital Com (UK) Limited ("CCUK") is registered in England and Wales with company registration number 10506220. CCUK is authorised and regulated by the Financial Conduct Authority ("FCA"), under registration number 793714. Capital Com SV Investments Limited ("CCSV") is registered in Cyprus with company registration number 354252. CCSV is regulated by Cyprus Securities and Exchange Commission (CySEC) under licence number 319/17. Capital Com Online Investments Ltd is a limited liability company (company number 209236B) registered in the Commonwealth of The Bahamas and authorised to carry on Securities Business by the Securities by the Securities Commission of The Bahamas ("SCB") with licence number SIA-F245.
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SOURCE: Capital.com