In a significant stride towards global expansion, Moneta Markets will be introducing its services in the UAE via the Securities and Commodities Authority (SCA) regulated firm, Sterling Financial Services. We sat down with Moneta Markets' Founder and CEO, David Bily, to discuss this milestone, the company’s vision for the Middle East, and the plans for expanding its robust presence in the MENA region.
Congratulations on the partnership, David. What does this mean for Moneta Markets and its global strategy?
Thank you. Being authorised to service UAE residents under an SCA license is a monumental achievement for Moneta Markets, which is why we partnered with Sterling Financial Services who have been operating locally in the industry for over thirty years. This license not only enables us to operate in one of the most dynamic financial hubs in the world but also aligns perfectly with our strategic vision of global expansion. Our presence in Dubai will enhance our ability to offer localised, high-quality brokerage services to clients in the Middle East.
Why did Moneta Markets choose Dubai as a key location for expansion?
Dubai is a global business hub with a robust financial ecosystem and strategic geographic location, making it an ideal choice for our expansion. The city's progressive regulatory environment and its commitment to fostering financial innovation align with our mission to provide unparalleled brokerage services. Being in Dubai also positions us to tap into the rapidly growing financial markets in the Middle East and North Africa region.
You recently set up a head office in Dubai and have been busy building a local team, what are your plans for expanding in the region?
Our new office in Dubai’s iconic Opus building in Business Bay will serve as the central hub for our operations, not only in the Middle East, but globally. We are currently in the process of relocating key members of our management team to Dubai to ensure seamless integration and to establish a strong leadership presence. Additionally, we are on a constant recruitment drive to attract top local talent. By building a team of skilled professionals who understand the regional market, we aim to deliver top-tier brokerage services that meet and exceed the needs of our clients in the region, which is key for continued growth.
What kind of opportunities do you see for Moneta Markets in the Middle East?
The Middle East presents immense opportunities, particularly in the financial sector. There is a growing demand for next-generation trading platforms and brokerage services, and Moneta Markets is well-positioned to meet this demand. Our advanced trading platforms, coupled with our commitment to transparency and client satisfaction, will enable us to capture a significant market share and establish ourselves as a leading brokerage in the region. We are also launching customised products for the local market, in addition to already offering over 1,000 FX pairs, Indices, Commodities, Share CFDs, Cryptos, Bonds, and ETFs, to meet the diverse trading needs of traders of all levels and styles.
Can you tell us more about your approach to recruiting local talent in Dubai?
Absolutely. We recognise the importance of having a team that not only has the technical expertise but also a deep understanding of the local market. Our recruitment strategy is focused on attracting experienced professionals who are passionate about the industry. We are particularly interested in individuals with backgrounds in business development within the FX industry. By fostering local talent, we aim to build a team that is in tune with the regional market trends and can deliver exceptional service to our clients and partners.
How does this expansion align with Moneta Markets' long-term goals?
Our expansion into Dubai is a critical component of our long-term growth strategy. As a financial hub in the perfect timezone, Dubai allows us to expand globally and underscores our commitment to becoming a globally recognised brand in the Forex and CFD industry. We are currently in the process of applying for multiple tier 1 licenses, with an expected ETA of mid-2025. By establishing a strong presence in key financial markets around the world, we aim to provide our clients with unparalleled access to global financial markets. This move also reflects our dedication to being a locally embedded partner, ensuring that we can offer personalised and responsive services to our clients and partners, no matter where they are.
We’ve heard that Moneta Markets has a local market strategist in Dubai who is frequently featured on major news networks. Can you tell us more about this?
Yes, we are fortunate to have Fadi Reyad as our Chief Market Strategist for the MENA region. Fadi has a distinguished background in the financial sector, having worked with top-tier Forex brokers and the UAE banking sector. He is frequently featured on CNBC, Bloomberg, and Sky News, providing valuable market insights and drawing a large audience, so his presence further strengthens our local expertise and boosts our visibility in the region. Fadi's insights and analysis are highly valued in the industry, helping our clients make informed trading decisions. Additionally, Fadi will be leading local trading seminars, enhancing market literacy and engagement. Educating current and future traders is a key component in our strategy of client retention, which is crucial for longevity in this industry.
What message do you have for your clients and partners in the Middle East?
I would like to express my sincere thanks for their continued trust and support. We are excited about the future and look forward to serving our clients in the Middle East with the same level of excellence that Moneta Markets is known for globally. Having access to an SCA license and our new Dubai office mark the beginning of a new chapter, and we are committed to leveraging our global expertise and local presence to deliver exceptional value. We have also built a local customer support team of native Arabic speakers to ensure the best service for clients in the region. With our unrivaled trading conditions, exceptional customer support, product range, low trading costs, and the recent addition of our AppTrader and CopyTrading apps, we expect our trading volume and client base to continue to grow significantly.
Thank you for your time, David. We wish Moneta Markets great success in its new venture.
Thank you. We are thrilled about this new journey and are confident that our new license and continued expansion into the MENA region will be a significant milestone in our growth story.
Stay tuned for more updates as Moneta Markets continues to expand and shake up the industry.
Moneta Markets operates In collaboration with SFS , Regulated by SCA ,Cat5 operating since 1989. Trading carries RISK or LOSS.
