Traze, a contracts for differences (CFDs) broker brand affiliated with ZFX, has made a significant move in the Middle East by securing an SCA First Category Licence from the UAE’s Securities and Commodities Authority (SCA). This development was announced by the company today.

With this new licence, Traze is now authorized to provide a range of financial services. These services include brokerage, portfolio management, and advisory services tailored for both retail and institutional investors in the UAE as well as the broader region. Erkin Kamran, the CEO of Traze, emphasized that this regulatory milestone supports their mission of making investing more accessible and equipping traders with essential tools and education.

In addition to its UAE licence, Traze operates under an existing licence in South Africa. It is a part of the Zeal Group, which also oversees the ZFX brand, operating from the United Kingdom and Seychelles. While the offshore entity of ZFX caters to retail clients, the UK division exclusively offers trading services to professionals and institutions.

Recent reports from Finance Magnates highlighted that the UK division of Zeal concluded its financial year on June 30, 2024, reporting revenue of £802 437, which represents an 81 percent decrease. However, the company’s net profit increased by 41 percent to £213 344, up from £151 408 in the prior year, with all revenue generated from brokerage services to clients based in the United Kingdom.

The SCA licence has gained popularity among brokers entering the UAE market. Notable firms such as ICM.com, Plus500, CPT Markets, INGOT Brokers, STARTRADER, and Kama Capital have also obtained the SCA licence this year. Additionally, BDSwiss received an SCA licence last year, prior to the suspension of its Cyprus licence by the regulator.

Osama Al Saifi, the Managing Director for MENA at Traze, remarked that holding the SCA First Category Licence positions them strongly to provide a secure trading environment that adheres to the highest regulatory standards.