Foreign exchange (forex) and contracts for difference (CFD) broker AvaTrade revealed this year that it has secured a ForexBrokerage license from Abu Dhabi Global Markets (ADGM) (FRSA). AvaTrade Middle East’s website states that it trades in cryptocurrencies and has seven regulations in six continents. As revealed on their website, ” Since 2006 AvaTrade has expanded with over 300,000 registered customers with trade volumes surpassing 70 billion USD. Our scope includes a full spectrum of trading instruments covering Forex trading, stocks, commodities, cryptocurrencies and indices.”
AvaTrade Middle East Ltd (FSPN 190018), part of the Ava Group, has received the new license. In particular, ADGM has issued the FX broker with a full Category 3A license (No. 190018). According to the statement provided by the firm, AvaTrade is the first broker ever to be issued such a license, as it allows the company to service both retail and professional clients. It is also the ninth global license received by the Group.
Avatrade’s CEO Daire Ferguson states, ” As regulation continues to shapre the future of our industry, Avatrade clients can be confident of trading with a broker that embraces regulatory change as a strategic objective.” He adds, ” Our license under ADGM s a further demonstration of this committment to provide our clients with the safest and most secure trading envirionment everywhere on the planet.”
As highlighted by the company, the new license will allow the Ava Group to strengthen its brand in the Middle East and, in particular, the United Arab Emirates. “We are delighted to allow even more traders and business partners in the Middle East to enjoy everything we have to offer; from innovative technologies, state-of the-art mobile applications, Islamic accounts, lucrative affiliation programmes and superb trading conditions. This new ADGM regulation is yet another one of many exciting endeavours AvaTrade is pursuing,” Ferguson explained in the statement.
The new Abu Dhabi office is located in the Abu Dhabi Global Market Square. Leading the company will be Senior Executive Officer, Mohamed Ahmed.