XS.com Acquires UAE Financial License, Adds Eighth Regulatory Approval

XS.com received a Category 5 license from the United Arab Emirates' Securities and Commodities Authority (SCA), adding another regulatory approval to the online broker's growing list of international permits.Shadi Salloum, XS.com's Regional Director for MENA

“The United Arab Emirates is a prestigious and dynamic global financial hub, and being licensed here represents not only a regulatory milestone but also a clear signal of our commitment to excellence, transparency, and client protection,” said Shadi Salloum, XS.com's regional director for the Middle East and North Africa.

The Australia-founded trading platform established a new UAE entity to operate under the SCA framework. The broker now holds licenses across eight jurisdictions including Australia's ASIC, Cyprus' CySEC, and authorities in Seychelles, Malaysia, South Africa, Kuwait and Mauritius.

This latest one is the newest addition to the list, following the bank’s efforts in August to strengthen its offshore presence.

The Gulf Attracts More Brokers

For XS.com, however, this is not its first contact with the Middle Eastern market. Earlier this year, in July, the broker opened a new office in Kuwait, partnering with NVEST and forming a new entity called XS Online.

Meanwhile, last week FinanceMagnates.com reported that another broker, Exness, also obtained a new license in the region, specifically in Jordan.

A month ago, Capital.com shared its financial results for the first half of 2025, showing that more than half of its trading volume came from the MENA region. Trading activity during the six-month period exceeded $800 billion (compared with $224 billion in Europe), marking a 54% increase compared with the second half of 2024.

Interestingly, these results were achieved with only about 35,000 traders in the region, half as many as in Europe, yet they opened more and higher-value positions.

Tickmill also reported record volumes in the MENA region last year, up 54% to $135 billion.

As for the UAE, the local market has recently attracted several major players, including the crypto exchange Bybit and retail trading providers like Deriv and Neex.