Kuwait-based FX/CFDs online trading company NCM Investment has secured a Category 1 license from the UAE Securities and Commodities Authority (SCA). The new license allows NCM Investment to launch regulated operations in the UAE.

NCM Investment Expands Presence in the Middle East with New UAE License

The company stated the UAE license supports its growth strategy of expanding into new markets across the Middle East. NCM Investment already operates regulated brokerage services in Kuwait, Jordan, Turkey and Malaysia.

NCM Investment was acquired in 2022 by Eshraq Investments’ Goldilocks Fund, which acquired a 51% majority stake. Eshraq said the UAE license aligns with its investment mandate of targeting high-growth companies in the financial services and technology sectors.

“This license enables NCM to expand its range of investment opportunities, underscoring its commitment to fostering an environment of complete trust and transparency,” said Naser Al Marri, the Co-Founder and Vice Chairman of NCM Investment.

Founded in 2009, NCM Investment provides online trading services to both retail and institutional investors. The company has over 200 employees globally across 7 international offices. Its trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term offers access to forex, metals, commodities and indices.

The CEO, Khurram Sayeed, added that the license milestone came after years of developing new trading products. He said NCM remains focused on diversifying its services into new markets that offer significant growth potential.

“Our SCA Category 1 license is a recognition of NCM’s strong track-record and significant accomplishments over the years,” Sayeed concluded.

"The UAE has shown exceptional leadership in the realm of virtual asset regulation, and Binance is committed to collaborating with regulators and policymakers in the MENA region to ensure secure operations and practices in the virtual asset industry, user protection, and market integrity," Alex Chehade, the Executive Director and General Manager of Binance FZE in Dubai, commented.

Brokers Move to the Middle East

Although NCM Investment originates from the Middle East, UAE and Dubai have recently been attracting more financial firms from around the world. This trend is due to favorable regulations for both traditional finance and 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.

Two months after establishing its Dubai office, FxPro decided to move its main headquarters there in 2023. Several other popular investment firms, including Plus500 and CMC Markets, had previously made similar moves.

The local cryptocurrency market is also gaining importance. In June, Binance began to take a more serious look at this market, having previously encountered several regulatory issues in the USA and Europe.

"The UAE has shown exceptional leadership in the realm of virtual asset regulation, and Binance is committed to collaborating with regulators and policymakers in the MENA region to ensure secure operations and practices in the virtual asset industry, user protection, and market integrity," Alex Chehade, the Executive Director and General Manager of Binance FZE in Dubai, commented.