Brokerage group Trading 212 is planning on setting up shop in the United Arab Emirates, TradeInformer has learned.
The broker has already had approval from the Dubai Financial Services Authority to operate via a local representative office since 2023.
However, that license is fairly limited in scope, with firms holding it unable to market or advertise their services in a meaningful way. The structure that Trading 212 is using would also mean clients are introduced to the broker’s UK entity.
What is more likely is that the broker is in the process of acquiring a license from the Securities and Commodities Authority.
The broker has also made an ex-Revolut executive its Managing Director for the UAE.
Paras Arora joined the broker last year in its London office, working as Head of Financial Risk.
Prior to joining Trading 212, he spent just over four years at neobanking group Revolut, where he was Group Head of Regulatory Reporting.
Arora also had stints at Goldman Sachs and KPMG before moving to the fintech company.
Trading 212 has seen huge growth in the last seven years, on the back of becoming the first UK company to lean heavily into offering commission-free trading.
The broker is making a push to expand in Germany and Australia. However, with other existing providers, like Trade Republic in Germany, providing a similar set of services, it may be hard for the firm to replicate the success it has had in the UK.
