Broker News

DFSA Licenses MultiBank Group, Opens Office in Dubai

MultiBank Group, a retail brokerage, gained a regulatory license from the Dubai Financial Services Authority (DFSA). The license strengthened the retail brokerage’s position in the Middle East and North America (MENA) region.

The DFSA license is the seventh regulatory license the brokerage has gained so far. Other regulatory approvals are in Germany, Australia, British Virgin Island, Spain, and the Cayman Islands.

Naser Taher, the MultiBank Group chairman, said the DFSA license marked another momentous occasion for the group. He added that it was a statement to the group and its commitment to the MENA region.

The DFSA license emphasizes their dedication to providing retail and institutional clients with world-class services and the highest security of funds.

MultiBank opens a new office 

Dubai Financial Services Authority (DFSA) awarded a license to the Multibank Group’s subsidiary MEX Australia Pty Ltd. They opened a new office in the Dubai International Financial Centre (DIFC).

In fact, Multibank has 21 offices across five continents.

Mex serves both retail and institutional brokerages and offers a range of trading services with forex and contracts for differences (CFDs). The group has more than 280,000 customers globally and made a profit of $85.6 million last year.

Moreover, Courtney Fitzsimmons said they had immensely enjoyed working with DFSA through the process and proudly take a position in the DIFC. Courtney Fitzsimmons is the CEO of MEX Australia.

Fitzsimmons added that they were thrilled to add to their regulatory arsenal in the evolving market. Fitzsimmons looks forward to making a mark in Dubai.

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