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XTB MENA starts accepting clients

XTB, a Polish Forex and CFD broker listed on the Warsaw Stock Exchange launched regulated client services in the Middle East and North Africa (MENA) region after a local subsidiary obtained a license in Dubai.

According to the published press release, XTB MENA Limited offers clients in the region trading services with over 1,900 Forex instruments and CFDs from other asset classes. They will be similar to the global XTB offer, available on the broker’s own xStation trading platform and the standard MetaTrader platform. Services for customers from the MENA region will be available in both Arabic and English.

New branch with a new director

Commenting on the launch of the new market, XTB CEO Omar Arnaout said XTB MENA plays a strategically important role in the company’s overall global growth strategy.

– The absolute trust of our customers is paramount to our business and we are extremely proud to be able to operate under multiple regulatory bodies in the region and around the world, providing a secure online trading experience for our customers in every region, ” Arnaout concluded.

In July, XTB MENA received a third category license from the Dubai Financial Services Authority (DFSA), which opened the way for the Polish broker to enter this market. In addition, the brokerage group appointed Achraf Drid as the managing director of XTB MENA.

XTB also enters South Africa

As summarized by the new director of XTB MENA, the company’s goal is to provide customers in the MENA region with access to a local point of sale. This will increase their trust while providing the highest quality solutions and technological support to help them achieve their investment goals.

– Through our regional office, clients will have access to trade multiple CFDs to expand their portfolio and educational support to make informed decisions,” added Drid.

The Polish broker is also expanding its activities to other emerging markets and has recently obtained a license from the South African Financial Sector Conduct Authority (FSCA).

Author: Zac Pittman

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