ThinkMarkets, a Melbourne-based brokerage firm, has strategically expanded its global operations by securing a license from the Dubai Financial Services Authority (DFSA). This significant milestone was achieved after incorporating its new subsidiary within the Dubai International Financial Centre (DIFC), a prime financial hub that operates with its own legal system and courts, distinct from the UAE’s federal laws.
The acquisition of the DFSA license marks a pivotal step for ThinkMarkets, enabling the firm to offer its extensive range of Forex (FX) and Contracts for Difference (CFDs) products not only to clients in the United Arab Emirates but also across the Gulf Cooperation Council (GCC) states — including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia — and North Africa. This expansion reflects the growing demand and interest from authorized firms and global brokers in offering FX trading services to retail customers within the DIFC.
Faizan Anees, Co-Founder of ThinkMarkets, expressed enthusiasm about the new license, emphasizing the UAE and the wider Middle East and North Africa (MENA) region as high-growth markets. The DFSA license is anticipated to facilitate the onboarding of new clients in a regulated and secure environment, reinforcing ThinkMarkets’ commitment to providing an exceptional trading experience. The firm prides itself on its proprietary platform ThinkTrader, offering thousands of trading instruments and adhering to strict regulatory standards as key components of its service.
Operating under the regulatory framework of the DFSA within the DIFC, ThinkMarkets is subject to stringent guidelines, including those pertaining to Anti-Money Laundering (AML) compliance, intra-day and end-of-day counterparty and settlement limits, segregation of functions, and other risk measures. These regulations are designed to ensure the integrity and stability of forex operations within the financial centre, which prohibits transactions in the local UAE Dirham currency.
The expansion into Dubai comes after ThinkMarkets made headlines for calling off a planned merger with Canada-listed FG Acquisition Corp., which would have valued the brokerage at $160 million. ThinkMarkets continues to solidify its presence in the global forex market, holding licenses from reputable authorities such as the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). The firm’s strategic growth has also included the acquisition of a licensed South African firm and Japan Affiliate, further extending its services into the Asian market.
