NCM Investment Bolsters Middle East Presence with UAE License

<p>Kuwait-based
FX/CFDs online trading company NCM Investment has secured a Category 1 license
from the UAE Securities and Commodities Authority (SCA). The new license allows
NCM Investment to launch regulated operations in the UAE.</p><p>NCM Investment Expands
Presence in the Middle East with New UAE License</p><p>The company
stated the <a href="https://www.financemagnates.com/tag/united-arab-emirates/" target="_blank" rel="follow">UAE license</a> supports its growth strategy of expanding into new
markets across the Middle East. NCM Investment already operates regulated
brokerage services in Kuwait, Jordan, Turkey and Malaysia.</p><p>NCM
Investment was acquired in 2022 by Eshraq Investments’ Goldilocks Fund, which
acquired a 51% majority stake. Eshraq said the UAE license aligns with its
investment mandate of targeting high-growth companies in the financial services
and technology sectors.</p><p>“This
license enables NCM to expand its range of investment opportunities,
underscoring its commitment to fostering an environment of complete trust and
transparency,” said Naser Al Marri, the Co-Founder and Vice Chairman of NCM
Investment.</p><p>Founded in
2009, NCM Investment provides online trading services to both retail and
institutional investors. The company has over 200 employees globally across 7
international offices. Its <a href="https://www.financemagnates.com/terms/t/trading-platform/">trading platform</a> offers access to forex, metals,
commodities and indices.</p><p>The CEO, Khurram
Sayeed, added that the license milestone came after years of developing new
trading products. He said NCM remains focused on diversifying its services into
new markets that offer significant growth potential.</p><p>“Our SCA
Category 1 license is a recognition of NCM’s strong track-record and
significant accomplishments over the years,” Sayeed concluded.</p><p>"The
UAE has shown exceptional leadership in the realm of virtual asset regulation,
and Binance is committed to collaborating with regulators and policymakers in
the MENA region to ensure secure operations and practices in the virtual asset
industry, user protection, and market integrity," Alex Chehade, the
Executive Director and General Manager of Binance FZE in Dubai, commented.</p><p>Brokers Move to the Middle
East</p><p>Although
NCM Investment originates from the Middle East, UAE and Dubai have recently
been attracting more financial firms from around the world. This trend is due
to favorable regulations for both traditional finance and <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/">cryptocurrencies</a>. </p><p>Two months
after establishing its Dubai office, <a href="https://www.financemagnates.com/forex/fxpro-relocates-to-dubai-in-mena-market-dash/" target="_blank" rel="follow">FxPro decided</a> to move its main
headquarters there in 2023. Several other popular investment firms, <a href="https://www.financemagnates.com/forex/plus500-strengthens-mena-presence-with-new-dfsa-license/" target="_blank" rel="follow">including
Plus500</a> and CMC Markets, had previously made similar moves. </p><p><a href="https://www.financemagnates.com/forex/why-the-middle-east-could-be-cryptos-next-goldmine/" target="_blank" rel="follow">The local
cryptocurrency market is also gaining importance</a>. In June, Binance began to
take a more serious look <a href="https://www.financemagnates.com/cryptocurrency/binance-mulls-over-middle-east-focus-amid-regulatory-pressure-in-the-west/" target="_blank" rel="follow">at this market</a>, having previously encountered several
regulatory issues in the USA and Europe.</p><p>"The
UAE has shown exceptional leadership in the realm of virtual asset regulation,
and Binance is committed to collaborating with regulators and policymakers in
the MENA region to ensure secure operations and practices in the virtual asset
industry, user protection, and market integrity," Alex Chehade, the
Executive Director and General Manager of Binance FZE in Dubai, commented.</p>

This article was written by Damian Chmiel at www.financemagnates.com.