Eightcap, a forex and contracts for differences (CFDs) broker based in Melbourne, has obtained a regulatory license in Dubai, allowing it to provide financial consultation and function as an introducing broker. This development was reported by FinanceMagnates.com.

The license, categorized as Category 5, has been issued to Eightcap Financial Services MENA, a local entity that was established in January 2025, according to the Securities and Commodities Authority (SCA) registry in Dubai. While Eightcap has set up a dedicated website for its Dubai operations, it is currently not operational.

FinanceMagnates.com attempted to reach out to Eightcap for details on its future plans under this Dubai license but had not received a response by the time of publication. The broker joins several other retail firms, such as EC Markets and Taurex, which have also recently secured Category 5 licenses from Dubai regulators. This license permits them to market and sell their services in the UAE, although it does not allow brokers to hold assets locally; they can only onboard traders through non-UAE-licensed entities.

Eightcap is already licensed to operate in Australia, the United Kingdom, Cyprus, and the Bahamas, and it is also incorporated in Seychelles. The acquisition of this new license highlights Dubai’s growing appeal as a hub for brokers looking to expand in the Middle East. Established firms like Plus500 and XTB have also acquired SCA licenses, enabling them to offer CFD trading from Dubai.

In addition to established players, new entrants are increasingly choosing Dubai as their operational base. Recently, ANAX Capital launched its CFD brokerage services under an SCA license in Dubai and aims to broaden its reach in the MENA region. Furthermore, Sky Links Capital, a newly established broker by a former BDSwiss executive, has set its corporate headquarters in Dubai while operating under a Mauritius license.

Alexander Oelfke, the former CEO of BDSwiss, has also entered the Dubai market with the launch of Tauro Markets, a CFDs broker he co-founded with David Dubrulle and Konstantin Oelfke.