Retail FX and CFDs broker PU Prime has obtained a Category 5 licence from the UAE’s Capital Market Authority (CMA), the regulator that was recently renamed from the Securities and Commodities Authority (SCA), as the company steps up its expansion across the MENA region.
The licence was issued to PU Prime Financial Services LLC and allows the firm to carry out introduction and promotion activities in the UAE. PU Prime’s local operation is led by Ali Afzaal, who joined the company last year from GTCFX and serves as Regional Head of MENA & South Asia.
Category 5 has become the most common entry route for international FX and CFD brokers seeking a regulated presence in the UAE. The approval enables firms to promote and introduce clients to products offered by their offshore entities, but it comes with clear limits.
Category 5 firms cannot hold client funds or execute trades locally, meaning UAE-based clients must be onboarded and serviced through an offshore licensed entity.
PU Prime becomes the latest broker to join a growing list of firms securing UAE CMA approvals as the country strengthens its position as a key regional hub for the online trading industry.
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By
Staff Writer
