By Staff Writer
RoboMarkets secures a Category 1 licence from Dubai’s Securities and Commodities Authority (SCA).
The Dubai unit, RoboMarkets MENA, will be led by CEO Karine Ugarte, appointed earlier this year.
The move marks a strategic shift into the Middle East.
RoboMarkets has officially obtained a Category 1 licence from Dubai’s Securities and Commodities Authority (SCA), signalling a major step in the broker’s expansion into the Middle East. The licence was granted to its local entity, RoboMarkets MENA for Financial Brokerage, which was set up in July 2024.
This move follows the company’s decision earlier this year to exit the European retail CFDs market, shifting its focus toward institutional clients in Europe and now new opportunities in the MENA region.
The SCA’s Category 1 licence is considered the top-tier approval for brokers in Dubai. It allows a firm to operate as:
A trading and clearing broker
A trading broker in global markets
A broker for non-exchange-traded derivatives and spot FX
A trading broker (on-market)
A securities dealer
In comparison, many international CFD brokers entering Dubai have opted for the more limited Category 5 licence, which essentially allows them to function like introducing brokers (IBs).
This sets RoboMarkets apart. Other well-known brokers with Category 1 approval include Plus500 and XTB, highlighting that RoboMarkets is aiming to compete at the highest regulatory level in the UAE.
