FNG Exclusive Interview… Following our recent exclusive report that Retail FX and CFDs broker Capital.com had received a UAE SCA Category 1 license and was strategically expanding its MENA operations, we thought that it would be a good time to catch up with Tarik Chebib, Capital.com CEO Middle East.

What are Capital.com’s plans in the MENA region?

How is Capital.com approaching the issue of AI alongside trading?

Here is what Tarik had to say about these issues, and a whole lot more.

FNG: Hi Tarik, and thanks for joining us today. You recently received a license to operate in the UAE. What are your plans for the region and what trends are you seeing emerge?

Tarik: Capital.com is targeting the UAE market primarily, and from there we see opportunities to branch out into the Kingdom of Saudi Arabia, Bahrain, Oman and Kuwait markets. We also see our hub in the UAE as a staging post to reach new emerging markets in Africa and Asia.

The retail investor segment is growing rapidly across the MENA region. More and more people are taking to self-directed trading—largely spurred by the onset of cryptocurrencies, the retail trader segment is starting to venture beyond speculative markets and turn to more traditional markets like gold, natural gas and indices. We feel there is an opportunity to support traders in this region as they ascend through the ‘trading cycle’ and begin to diversify across different markets and trading instruments.

As a platform committed to supporting  its traders with free and accessible educational tools, Capital.com is in a good position to help MENA traders grow their confidence and hone their understanding of financial markets.

Capital.com’s foray into the UAE is further supported by the company’s strong growth results in recent years. Last year, our total client trading volumes surpassed USD$1trn for the first time—43% higher than the previous year. As a result of impressive year-on-year growth, Capital.com was ranked among the 50 fastest growing technology companies at the 2023 Deloitte Technology Fast 50 Middle East & Cyprus Awards.

FNG: Capital.com is known for its award-winning UX and trading education support. What features have you recently introduced to further support your offering?

Tarik: We are indeed known for our award-winning UX and education support, which has earned us numerous awards over the years, including being voted Best in Class for Education and Ease of Use at the Forex Brokers Awards for two-years running (2023 and 2024), and Best Overall Trading Platform at the 2024 Online Money Awards. We are always looking for new ways in which we can harness technology to support and enhance our clients’ trading experience.

In line with this commitment, we recently announced  a strategic partnership with TradingView, the world’s leading provider of charting and analytical tools. Through this partnership, our clients can now benefit from TradingView’s comprehensive financial visualisation tools without having to navigate away from the Capital.com platform. This not only gives our clients added convenience and a seamless user experience but also helps them save precious time when they are in the middle of a trade.

We have also made a number of enhancements to our app platform including enabling customizable home screens and adding more dynamic widgets. We have also make further adjustments to ensure more efficient pricing for our clients. To that end, we recently removed overnight funding for non-leveraged (1:1 leverage) CFD trades on shares and cryptocurrencies (crypto trading is not available to retail clients in the UK). This is designed to help traders reduce their cost as they explore longer-term, investment-style strategies.

FNG: How do you collaborate with the public and private sectors in the UAE and beyond, particularly in the context of sustainable growth and technological advancement?

Tarik: We often collaborate with strategic partners, whether it is integrating with global payment platforms to give our clients a better user experience or collaborating with public sector bodies to support the communities in which we operate.

Specifically within the UAE, In 2022, the company was a sponsor of the UAE’s NextGenTalent initiative, which was aimed at developing the capabilities of local youth and preparing future leaders in the technology sector. NextGenTalent brought together 5,000 students from Emirati universities to learn essential advanced technology skills from industry leaders from the likes of META, Oracle, Amazon, Google, Microsoft, and Stripe. Capital.com was also one of the sponsors of the Ministry of Economy’s activities at the inaugural COP 28 Trade Day last December.

FNG: What are the challenges of entering and expanding into the MENA region compared to other regions?

Tarik: The sector is highly competitive and there are many brokers and platforms vying for attention across the MENA region. Capital.com is playing the long-game. Moving beyond the transactional, we focus on providing our traders with next-generation technology and education, always giving them that extra bit of support so they can build their confidence as traders over time. Helping traders develop their understanding of financial markets and make better informed decisions is central to our DNA.

FNG: How do you see AI evolving alongside trading?

Tarik: AI has the potential to support traders, helping them to unlearn bad trading behaviours while encouraging and promoting their better habits. It can also improve efficiency across an organisation, freeing up our people’s time so they can work on more strategic, high-value projects that can really move the business forward. AI integration is a key part of our business as a next-generation technology company and we are excited about the future.

FNG: How does the UAE’s operating environment support fintech and trading platforms like Capital.com?

Tarik: Capital.com opened its first subsidiary in the region as a member of the UAE’s NextGenFDI Programme, a government-led initiative enabling cutting-edge companies from around the world to establish and expand their operations in the UAE. Such initiatives go a long way in establishing the region as business-friendly. The UAE’s supportive market-entry requirements and its flourishing knowledge-based economy made it a compelling choice for our first subsidiary in the region.

In addition, the SCA applies enhanced levels of regulation to the UAE securities market, making it one of the most comprehensive and well-respected regulators in the world. The approval of our licence affirms our commitment to meet the highest compliance standards worldwide, marking yet another important milestone in the strategic development of Capital.com as a fast-growing, regulated trading platform.