Equiti opens Abu Dhabi office as SCA-regulated broker eyes West-East Corridor
“Our Abu Dhabi operations will serve as a link to achieve this “West-East Corridor” of digital investment solutions offering to our clients globally”.
Equiti Group has announced the opening of its 10th office in the prestigious Etihad Towers in Abu Dhabi on the 27th of February 2023 after acquiring all the necessary approvals last year.
The global fintech broker secured a license from the Securities and Commodities Authority (SCA) in April 2022 in order to operate in the jurisdiction.
STP multi-asset brokerage and educational seminars in Abu Dhabi
Equiti plans to use the Abu Dhabi office as an educational and knowledge-sharing hub while providing its renowned and personalized investment solutions to the community.
The brokerage firm’s Abu Dhabi operation will offer face-to-face service in a prime location and focus on providing tight spreads and STP (Straight Through Processing) offerings on multi-assets and multi-currency platforms, with instant execution and zero withdrawal fees.
In addition, as an educational and knowledge-sharing hub, Equiti will be offering a series of educational seminars and workshops in the UAE capital to further support building awareness of financial services and investment solutions.
Equiti will work with a range of local entities, governmental authorities, and universities to support this cause and share best practices on safe and diverse investment methods.
Abu Dhabi operations serve as a link to achieve “West-East Corridor”
Iskandar Najjar, Co-Founder & Group CEO of Equiti Group, said: “Our expansion in the UAE to Abu Dhabi was a must to further strengthen our presence in Europe, Africa, and the Middle East with our plans to open in Asia and South America soon. Our Abu Dhabi operations will serve as a link to achieve this “West-East Corridor” of digital investment solutions offering to our clients globally”.
Mohamed Al Ahmad, Co-Founder and Chief Managing Director of Equiti Group, commented: “The UAE, with its Capital Abu Dhabi, has a very strong economy and a solid financial infrastructure. This will allow us to attract more international investors to the capital. We are aware of how discerning and astute the investors in Abu Dhabi are. They are passionate for excellence and success. At the same time, they seek the personal service and advise from investment experts and top-of-line technological solutions. This is where Equiti in Abu Dhabi will fill in the gap.”
Equiti secured UAE’s SCA OTC derivatives and currencies license in 2022
It was in April 2022 that Equiti Group announced that its Abu Dhabi-based subsidiary, Equiti Securities Currencies Brokers LLC, secured an Over-the-Counter Derivatives and Currencies in the Spot Market license by the UAE Securities and Commodities Authority (SCA) – license number 20200000026.
This newly introduced activity is for licensing Over-the-Counter Derivatives and Currencies in the Spot Market license under Category One of SCA’s Regulations Manual of the Financial Activities – or ‘licensing rulebook’.
The stringent requirements set by SCA, including the higher paid-up capital requirements for this activity, have brought the UAE on par with global regulatory standards and position the SCA as a top-tier regulator in the advanced financial markets of the Middle East and UAE.
The brokerage firm’s new SCA license will fortify the company’s international trajectory as the Group continues to apply for new licenses in various global locations to enter new markets with the right governance in place.