3 April 2017 – LONDON - London based broker One Financial Markets has further cemented its presence in the Middle East with new regulatory approval from The Dubai Financial Services Authority (DFSA), the regulatory authority for the Dubai International Finance Centre (DIFC). Announcing the opening of their new offices at the DIFC, this latest strategic milestone in One Financial Markets’ history since their establishment 10 years ago only further strengthens their regional presence and commitment to their client base in the MENA region.
Andrew Henderson, SEO commented, “Obtaining a full retail licence from one of the most highly respected regulatory bodies in the region is a landmark achievement for One Financial Markets. We are truly honoured to have our regional office in the Dubai Financial District. Dubai is the most active financial centre in the Middle East, with its strategic location linking East and West.”
Henderson reflected further on the key Emirate by saying “Dubai enjoys one of the world’s most advanced infrastructures in terms of office space, transport facilities and free-zone commercial licences. It is the ideal choice for major financial institutions seeking to expand their activities to target more than 3 billion people across 72 countries in the Middle East, North Africa and South Asia regions, with financial markets valued at approximately US$7.4 trillion.”
He added: “Dubai not only enjoys a strategic location but is central to the global economy, between the New York and London financial centres in the West and Singapore and Hong Kong financial centres in the East, providing an integrated business environment that meets the different needs and requirements of financial centres to the highest international standards.”
Henderson said that “The financial legislative environment across the UAE, especially at DIFC, is no different in strength and sophistication to that of London. This has prompted our company to relocate its regional headquarters in the Emirate of Dubai. The UAE has made tremendous efforts in a record time to modernise legislation in line with recent developments in international financial markets, which is reflected on the ground by a significant increase in the number of brokerage firms that have arrived to launch their services in the country.”
It was pointed out by Mr Henderson that the volumes traded globally in foreign exchange markets is estimated to be around US$5 trillion daily.
Finally, Mr Henderson praised the level of awareness the people of the UAE, and the region in general, have about the legal and regulatory aspects of online trading, noting that this encouraged the company to further expand its services in the region.
With One Financial Markets commemorating its tenth anniversary this year, Henderson asserted that the new Dubai headquarters is a key office in the firm’s network, including its London Head Office and the recently incorporated Hong Kong office.
Mr Henderson informs us that One Financial Markets has over 30,000 clients across the Middle East and Asia. He explained that the company offers its clients training programmes through its trading academy, enabling them to manage and understand trading risk, as this market includes high profit opportunities but also high levels of risk. Therefore, a demo account is provided to help traders familiarise themselves with the markets and trading systems before they delve into real trading.
Henderson also recalled the international economic crisis that hit the global economy after the firm’s establishment in 2007. He noted that this did not prevent the company from growing, expanding and gaining the trust of tens of thousands of traders around the world, and pointed out that the biggest challenge facing the sector is the existence of active, fake ‘forex’ companies who launch continuous advertising campaigns and succeed in luring many victims. “One of the key things when opening a trading account is to ensure you have opened with a company that is well regulated, established and segregates client funds.”