Trade.com, a growing trading brand in the retail markets operated by Trade Capital Holding, has obtained a new license from the Government of Dubai and established a representative office in the city as well, Finance Magnates learned exclusively.
“Our new office in Dubai is a business development hub to develop our collaboration network in MENA region and APAC as we strongly believe in the growth of those markets,” said Roei Gavish, the Group CEO of Trade Capital Holding.
The new license came as a part of the group’s major global expansion plans. By the end of 2022, the group company is expected to gain licenses from regulators in Italy and the United States. It is also launching services in India through a regulated joint venture in the country.
Furthermore, the trading group is seeking a cryptocurrency exchange license but did not name any regulator or jurisdiction it is approaching.
Trade.com already operates with multiple licenses. It is regulated in the United Kingdom, Cyprus, South Africa, Mauritius and Spain.
“TRADE.com group is expanding globally with an aim to cover a network of global licenses by 2025 and by that becoming one of the few real global fintech operators,” Gavish added. “Our motto is a global brand with a local face.”
A Bootstrapped Company
The group is also investing in strengthening its services and is developing its “own platforms and products portfolio into new spaces, adding digital banking, robo advisor and regulated crypto offering.” It is also focused on enhancing the mobile experience of traders with proprietary technology stack and openAI solutions.
So far, Trade.com has been a bootstrapped company. It is now preparing for an institutional funding round by 2024.
Meanwhile, the performance of Trade.com has been remarkable over the past couple of years. On top of that, the UK arm of the brokerage group reported a 114 percent jump in 2021 revenue, with losses narrowed by 72 percent.
