Century Financial, a Dubai-based financial services firm, announced today (Thursday) the opening of a new branch office in Abu Dhabi, marking an expansion of its presence in the United Arab Emirates (UAE).

Century Financial Expands Operations with New Abu Dhabi Branch

The move is part of the company's strategic growth plan and aims to strengthen its foothold in the UAE's financial sector, where it has been operating for over thirty years.

“Being a pioneer in global investments in the UAE, the opening of the Abu Dhabi office further reiterates our commitment to providing the tools, knowledge, and bespoke solutions to our discerning clients based in Abu Dhabi,” said Bal Krishen, Chairman and CEO of Century Financial.

The Abu Dhabi branch will offer an expanded product line, including CFD-based Abu Dhabi Securities Exchange (ADX) stocks. Additionally, the company plans to introduce new AI-enabled features to its trading platform .

At the beginning of this year, the company appointed Ulas Akincilar as the new Chief Product Officer. He previously worked for Infinox Capital and House of Borse, which was acquired by UAE's Noor Capital and subsequently rebranded. He also held a position at Gold-i, a technology and liquidity provider serving the FX/CFDs industry.

Earlier, the company promoted Mahmoud Elaref from Senior Financial Analyst to Vice President of Private Wealth. This promotion came after Elaref had been with the privately-owned firm for over five years.

UAE: A Key Player in the FX/CFD Landscape

The UAE is experiencing growth in retail FX/CFD trading, bucking the global trend of declining trader numbers. This expansion is driven by two primary factors: a flourishing cryptocurrency market and the strong influence of personal recommendations. A recent study indicates that approximately half of the respondents entered the trading market based on encouragement from family members.

Although there has been a 6% reduction in active traders over the last year, mainly due to fewer new entrants, the UAE market has seen a significant uptick in reactivated and continuing FX/CFD traders. This pattern underscores the market's robustness and the faith that existing traders place in the UAE's trading ecosystem.

A distinctive feature of the UAE's retail FX/CFD market is the exceptional impact of word-of-mouth referrals in attracting new clients. Personal recommendations are responsible for 42% of new account openings, a figure substantially higher than in other regions, especially Europe. Furthermore, advocacy rates in the UAE are remarkably high, with 83% of traders endorsing their providers to others, in contrast to only 48% in France and 42% in Germany.

The UAE is rapidly emerging as a global technology hub , drawing the attention of Asian tech professionals. A recent Capital.com survey reveals that 81% of Asian tech experts view the Middle Eastern nation as an increasingly significant tech destination. With nearly half expressing a willingness to relocate there, the UAE is surpassing traditional favorites like Germany and Hong Kong in appeal.