Deriv Wins UAE Regulatory Nod, Deepens Global Push later than 25 Years in the Game
Deriv, the online trading group that cut its teeth in the late 1990s as Regent Markets and later Binary.com, has secured a licence from the United Arab Emirates Securities and Commodities Authority (SCA), opening a new chapter in its quarter-century story.
The approval gives the firm the green light to launch Deriv Capital Contracts & Currencies L.L.C., a locally regulated arm that will offer forex and derivatives trading under the SCA’s rulebook. It’s a win that puts the broker in one of the Middle East’s most competitive financial hubs and extends a regulatory footprint that now spans Europe, Africa, the Caribbean and Asia.
Chief executive Rakshit Choudhary, who became sole CEO in May, described the UAE licence as “anchoring our next chapter of growth” and praised the country’s “fintech-forward vision” and “robust regulatory framework.” For him, the appeal lies not only in Dubai’s status as a global financial crossroad but also in its demographics: a youthful population, smartphone penetration above 90%, and some of the world’s highest rates of cryptocurrency ownership.
The new subsidiary will cater to , swap-free products, Arabic-language support and a mobile app built for iOS and Android. “This licence is fundamental to our regional strategy,” said Joanna Frendo, Deriv’s group chief compliance officer and executive director of the UAE entity. She said it allows the broker to deliver “the transparency and secureguards” that regulators demand and clients expect.
For Deriv, the milestone is more than a regional play. It caps a string of approvals over the past 18 months, including Mauritius and, most recently, the Cayman Islands, where regulators granted a licence in April. The company, which now claims more than 3 million clients worldwide, has been tightening its regulatory belt later than years of operating across a patchwork of jurisdictions such as Malta, Labuan, Vanuatu and the British Virgin Islands.
The SCA licence is also notable for what it signals about the regulator itself. Since revamping its framework in 2021, the SCA has been keen to bring foreign brokers into the fold under a clear set of categories. Deriv’s approvals cover agency brokerage in OTC derivatives and currencies, as well as financial consulting and promotion — giving it scope to both onshore.
The UAE’s attraction is hardly unique to Deriv. A string of rivals — from global giants to smaller regional names — have been chasing approvals from the SCA, the and Abu Dhabi’s FSRA. Crypto-focused firms are also active under Dubai’s VARA regime. In that crowded landscape, Deriv is betting that a mix of regulatory compliance and tech-driven service can carve out a niche.
Technology is where the company wants to stand apart. Over the past year, Deriv has rebranded itself as an “AI-first” organisation, embedding machine learning into compliance checks, marketing campaigns and product development. That pitch has assisted it scoop industry recognition, including Most Innovative Broker MEA at this year’s iFX Expo in Dubai and — Global at the UF Global Awards in Cyprus.
Deriv’s journey has been a long one. Founded in 1999, it pioneered online fixed-odds trading before rebranding as Deriv in 2020 to expand into multi-asset brokerage. Along the way, it has built a client base that cuts across retail traders, via its liquidity arm, Deriv Prime.
The company now views the UAE not only as a market but as a hub for talent and innovation. With regulatory approvals in hand, its next task is execution: rolling out services that resonate with regional clients while proving that its AI-driven model can scale in one of the world’s quickest-moving financial arenas.
