News update, GivTrade gets Category 5 License in the UAE

GivTrade Forex Broker gets Category 5 License in the UAE

Retail broker GivTrade is the latest company to win approval from the Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE).

The broker can now operate in the UAE under a Category 5 license.

Category 5 approvals have become extremely popular with brokers active in the country. The setup lets a firm promote and sell its products and services in the UAE by acting as an introducer for a related party company.

In practice, that means GivTrade can market in the UAE while clients onboard with its regulated entity in Mauritius, where it already holds a license.

Over the last 18 months, several firms have taken the same route. These include Finalto, Taurex, and Pepperstone, all of which received SCA approval using a Category 5 license.

GivTrade was founded by Lebanese entrepreneur Hassan Fawaz, who also leads the group the broker operates from Qatar.