ICM.com has expanded its operations in the Middle East, securing its second licence in the United Arab Emirates (UAE). The brokerage firm’s subsidiary, ICM MENA, has received the Securities and Commodities Authority (SCA) licence from Dubai’s regulatory authorities, marking a significant milestone in its regional expansion.
This new licence will enable ICM.com to offer promotional and introductory services across the UAE, further solidifying its presence in one of the world’s most dynamic financial hubs.
A Strategic Move for Global Expansion
Shoaib Abedi, CEO of ICM.com, highlighted the importance of this new licence in the company’s broader global growth strategy. “Dubai’s financial ecosystem is recognized as one of the most attractive worldwide, and this approval allows us to engage with a vast client base in the UAE, fully compliant with local regulations,” said Abedi. 
In addition to the newly acquired Dubai licence, ICM.com is already regulated by the Abu Dhabi Global Market (ADGM), and last November, the broker also obtained a licence in Seychelles to expand its offshore operations. ICM.com’s regulatory footprint extends to Mauritius, South Africa, and Switzerland.
Shifting Focus Away from the UK
ICM.com’s decision to focus on international markets follows its exit from the UK market. In 2024, the brokerage chose to relinquish its authorisation with the UK’s Financial Conduct Authority (FCA). Although the process to cancel the FCA licence is still pending, the company has already limited its UK operations to professional clients only.
The UK unit of ICM.com continues to accept new client registrations, but it has restricted onboarding to professional traders, in line with its regulatory adjustments.
The UAE as a Growing Hub for CFD Brokers
The UAE has increasingly become a prime destination for Contract for Difference (CFD) brokers. Recent months have seen a growing number of global firms establishing a presence in Dubai, with Polish broker XTB opening a new office in the city shortly after receiving its own SCA licence. Plus500, a major player in the brokerage world, also joined the UAE market with an SCA licence.
Other brokers securing SCA licences in Dubai this year include CPT Markets, INGOT Brokers, STARTRADER, and Kama Capital. BDSwiss also acquired an SCA licence in Dubai before its Cyprus licence was suspended by the regulator. This trend underscores the UAE’s attractiveness as a key financial and regulatory hub for international brokerage firms.
ICM.com’s latest licence in Dubai strengthens its foothold in the UAE and reflects a broader trend of global brokers establishing or expanding their operations in the region.
