Moneta Markets, a CFDs broker, has taken a significant stride in expanding its reach in the Middle East by obtaining its Mainland Company License in Dubai. The announcement, made on Wednesday, highlights this move as the next phase in the broker’s strategic global expansion plans.
The Dubai Mainland License is granted to companies registered under the Dubai Economic Department (DED) and offers them the freedom and flexibility to grow and operate within the region. It is important to note, however, that this license is not a financial services license.
David Bily, the Founder, and CEO at Moneta Markets, expressed immense pride in the expansion into Dubai, emphasizing the broker’s ambition to provide unparalleled brokerage services worldwide. This development not only enhances their global footprint but also solidifies their commitment to being a locally embedded partner for clients across various regions.
Moneta Markets was initially launched in mid-2020 under the umbrella of Vantage Group and operated as an offshore broker. However, the brand officially separated from Vantage last year. Recently, the broker obtained a financial services license from the regulatory body in Seychelles, in addition to holding regulatory approval in South Africa and St. Vincent and the Grenadines.
In line with their expansion plans, the official press release revealed that Moneta Markets intends to transfer key members of its management team to Dubai. This strategic decision aims to strengthen regional relationships and better understand and cater to the unique needs of clients in the Middle East. Furthermore, the broker plans to tap into the local talent pool by recruiting staff for its Dubai office.
Dubai Brokerage Boom
According to David Bily, the decision to relocate key management to Dubai underscores the importance the company attaches to the region. They see tremendous potential in Dubai’s talented pool of industry professionals and aim to build a team that comprehends the pulse of the region. This approach ensures that Moneta Markets can provide best-in-class services that align with its reputation.
Moneta Markets’ acquisition of the Mainland Company License in Dubai represents a significant milestone in their strategic expansion plans. By establishing a local presence and attracting top local talent, they are positioning themselves to better serve clients in the Middle East and deliver tailored services that align with the unique demands of the region.