DUBAI: Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed USD$1trn in 2023, has announced that it is joining the UAE’s #NextGenFDI initiative for digitally-enabled businesses as it opens a new subsidiary, Capital Com MENA Securities Trading LLC (Capital Com MENA), based in the UAE. The new entity will be the operating headquarters for the region as the firm consolidates its position in the UAE market and as it looks to expand across MENA and Asia. The announcement comes after the company last week received full regulatory approval from the UAE Securities and Commodities Authority (SCA).
Kypros Zoumidou, Group Chief Executive Officer, Capital.com, said, “Capital.com’s foray into the UAE marks an important development in our global growth trajectory. As a cutting edge fintech company regulated across multiple jurisdictions, the UAE was a natural choice for our first subsidiary in the region. With its business-friendly ecosystem, supportive market-entry requirements, flourishing knowledge-based economy, and perfect location as a base for wider expansion, the UAE continues to cement its position as a dynamic tech hub for innovative companies with global ambitions. We look forward to joining the #NextGenFDI community.”
HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said, “The UAE is attracting world-class technology companies with bold growth plans and global ambitions. These businesses recognise that the UAE offers not just one of the most vibrant ecosystems in the world, but also serves as an access point to expanding regional economies and the high-growth markets of Asia and Africa. Our #NextGenFDI programme continues to draw top global firms and is becoming an essential pillar as the UAE seeks to attract capital in all its forms – technological, human and financial. Companies like Capital.com are helping us to secure our position as one of the world’s most dynamic, future-focused global hubs.”
Capital.com is set to become a leading member of the UAE’s #NextGenFDI Programme, a government-led initiative enabling cutting-edge companies from around the world to establish and expand their operations in the UAE. In 2022, the company was a sponsor of the UAE’s NextGenTalent initiative, which was aimed at developing the capabilities of local youth and preparing future leaders in the technology sector. NextGenTalent brought together 5,000 students from Emirati universities to learn essential advanced technology skills from industry leaders from the likes of META, Oracle, Amazon, Google, Microsoft, and Stripe. Under the NextGen FDI Programme, Capital.com will not only benefit from the UAE’s robust tech ecosystem, but also its deep talent pool. Capital.com was also one of the sponsors of the Ministry of Economy’s activities at the inaugural COP 28 Trade Day last December.
Located in Emirates Tower in Dubai, Capital Com MENA will be headed by Tarik Chebib, CEO of Capital.com, Middle East. Commenting on the newly acquired SCA license Mr Chebib, said, “SCA applies enhanced levels of regulation to the UAE securities market, making it one of the most comprehensive and well-respected regulators in the world. The approval of our licence affirms our commitment to meet the highest compliance standards worldwide, marking yet another important milestone in the strategic development of Capital.com as a fast-growing, regulated trading platform. Known for our award-winning UX, trading education support and transparent pricing, we are excited to bring our services to the dynamic, tech-savvy UAE market. We also plan to harness technology to promote greater financial literacy across the MENA region, helping traders develop their understanding of financial markets and make better informed decisions—this is central to our DNA.”
Capital.com’s foray into the UAE is supported by the company’s strong growth results in recent years. Last year, the company’s total client trading volumes surpassed USD$1trn for the first time – 43% higher than the previous year. As a result of impressive year-on-year growth, Capital.com was ranked among the 50 fastest growing technology companies at the 2023 Deloitte Technology Fast 50 Middle East & Cyprus Awards.
Capital.com enables clients to trade derivatives on more than 3,000 of the world’s most popular indices, commodities, cryptocurrencies, shares and currency pairs. In addition to its web and mobile-based platforms, Capital.com also provides clients with access to free education and trading tools to help them hone their trading knowledge. As a global fintech company with offices in London, Dubai, Limassol, Melbourne, Warsaw and Vilnius, Capital.com is guided by a sustainability-led startup framework, prioritising smart partnerships with the public and private sector to help drive progress and sustainable growth.
