Retail broker GivTrade has become the latest firm to receive approval from the Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE).
GivTrade can now operate in the Gulf state by using a Category 5 license.
These licenses have become extremely popular with brokers that operate in the country. They allow the holder to market and sell their products and services in the UAE by acting like an introducer to a related party firm.
For example, GivTrade has a license in Mauritius, meaning it can market its trading services in the UAE, then have clients onboard with its entity in Mauritius.
Over the past 18 months, firms like Finalto, Taurex, and Pepperstone have all received approval to operate from SCA by using a Category 5 license.
GivTrade was fouded by Lebanese entrepreneur Hassan Fawaz, who runs the group of companies that the broker operates from Qatar.
