GO Markets Obtains UAE Broker License

Melborne-based broker GO Markets has expanded in the MENA region and secured a broker license from the UAE Securities & Commodities Authority (SCA), Finance Magnates has learned.

The license was awarded to the company’s UAE subsidiary, GO Markets MENA DMCC, according to market sources.

Go Markets MENA DMCC was established last year in the economic ‘free zone’ of the Dubai Multi Commodities Centre (DMCC). At the time GO Markets MENA DMCC also obtained membership with the Dubai Gold and Commodities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (DGCX).

“I’m extremely proud and excited, the ESCA licence is a critical part of our MENA region expansion plans. We’ve worked hard on establishing ourselves as a reputable brand and provider in the region, and I’m very happy to see it all coming together,” GO Markets MENA CEO Sherif Sanad said in an interview.

Sanad took on his CEO role at the firm in January 2019. He had worked at Exclusive Capital, Velocity Trade, RG Markets and One Financial Markets earlier.

“It has been our priority to facilitate the same level of confidence and security to our clients in the Middle East region. SCA License is a major milestone in our broader efforts to become a truly multi-jurisdictional provider,” GO Markets MENA director Khim Khor added.

GO Markets MENA noted that it will offer all available products under the DGCX, and it will expand its product range to include further products with regulatory approval.

GO Markets

Founded in 2006, GO Markets is a financial services provider of online FX trading services, offering margin FX, CFD trading, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and binary options trading to individuals and institutional clients.

The firm successfully introduced Meta Trader 4 to retail traders in Australia.