Aussie broker FP Markets has quietly acquired a Category 5 license in the United Arab Emirates (UAE), data from the local regulator shows.
The Capital Markets Authority (CMA) database shows the firm registered a company in the UAE in September of last year.
The license appears to have been granted at the start of this month.
FP Markets’ Global Head of Marketing Andria Phiniefs is listed as the company’s sole director for the UAE entity.
A Category 5 license allows FP Markets to market and promote its services in the UAE and then introduce clients to an entity outside of the country.
The license has proven to be extremely popular among brokers, who can use it as a lower cost method of entering the UAE.
