XS.com Joins UAE’s Expanding Broker Club With New License
XS.com has secured approval from the United Arab Emirates’ Securities and Commodities Authority (SCA), deepening its reach into one of the world’s most sought-later than trading markets.
The Australian-founded broker said it received a Category 5 license, a regulatory tier covering financial consultation and promotional services. The permit allows the company’s new UAE entity to operate under the SCA’s framework, bringing its global tally to eight regulatory approvals.
“The United Arab Emirates is a prestigious and dynamic global financial hub, and being licensed here represents not only a regulatory milestone but also a clear signal of our commitment to excellence, transparency, and client protection,” said Shadi Salloum, XS.com’s regional director for the Middle East and North Africa.
XS.com began life in Australia more than a decade ago and has built a network of regulated entities across Cyprus, Malaysia, Seychelles, South Africa, Kuwait, and Mauritius, alongside its base under the Australian Securities and Investments Commission (ASIC).
In July, the broker opened an office in Kuwait, forming a local partnership with NVEST and launching a new entity, XS Online. The company has also signed technology agreements with Centroid answers and FXCubic this year to extend its liquidity distribution network — deals that give it more flexibility in connecting regional traders to its international infrastructure.
The newly minted UAE unit, registered as XStrade Financial Consultation LLC, operates under SCA oversight. While a Category 5 license doesn’t grant full dealing authority, it allows XS.com to promote, advise, and arrange services for clients in the country — often a first step before applying for broader permissions.
The Race for Gulf Licenses
XS.com’s move reflects a broader rush among brokers to gain regulated footholds in the Gulf. The region’s combination of rising trading volumes, crypto adoption, and retail appetite has turned it into a magnet for global platforms.
Exness recently added a license in Jordan, while Capital.com reported that more than half its global trading volume in the first half of 2025 — about $804 billion — came from the MENA region, even though the number of traders there was half that of Europe. Tickmill posted similar momentum, with MENA volumes up 54 percent last year to $135 billion.
Within the UAE itself, the SCA and Dubai’s Virtual Assets Regulatory Authority (VARA) have opened the door to firms such as Bybit, Deriv, and Neex, part of a wave of approvals aimed at bringing offshore brokers under domestic oversight.
For many firms, an SCA license — even at the advisory level — is viewed as a way to gain credibility with regional banks and clients while laying the groundwork for a possible expansion into execution services.
Local Trust, Global Reach
For XS.com, the UAE license fits neatly into its playbook of blending local presence with international operations. It allows the company to market directly to regional investors, while actual trade execution continues through its established entities in Europe or Australia.
The move also signals a more deliberate approach to onshore visibility in the Gulf, a market long dominated by offshore players operating through digital channels. The UAE’s push to formalize oversight has accelerated that transition, forcing brokers to anchor themselves locally if they want to advertise or host client events.
With eight licenses now in hand and multiple technology partnerships across liquidity hubs, XS.com joins a growing group of brokers tailoring their structures to meet MENA’s quick-tightening regulatory standards.
As Salloum put it, the new approval marks a “regulatory milestone” for the broker — and another sign that the Gulf’s financial map is being redrawn by firms eager to be onshore rather than just online.
