Exclusive: M4Markets rehires Oscar Asly to head MENA, gets DFSA license
FNG Exclusive… FNG has learned that Cyprus based Retail FX and CFDs broker M4Markets has obtained a license from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).
We have also learned that M4Markets, which has seen quite a number of recent executive departures, has rehired its former MENA Director, Oscar Asly, to act as CEO MENA for the new licensed operation. Mr. Asly had been with M4Markets in 2021-2022, and spent the past year working in the MENA region for crypto exchange Binance.
With this recent addition, M4Markets said it now boasts regulation in four jurisdictions, including the DFSA, the CySEC in Cyprus (last year M4Markets bought Axiance operator ICC Intercertus and its CySEC license), the FSA of Seychelles, and the FSCA of South Africa.
The DFSA is a globally recognized regulatory authority responsible for overseeing financial services within the Dubai International Financial Centre (DIFC), a prestigious hub for investors and businesses. The company said that acquiring a DFSA license demonstrates M4Markets’ commitment to adhering to the highest regulatory standards and ensuring a secure trading environment for its clients.
Speaking on the new DFSA license acquisition, M4Markets Chairman Panikos Teklos said:
“It is with great pleasure that we announce M4Markets has been granted the prestigious DFSA license, affording us the ability to extend our services in the Middle East. This is a significant milestone and pivotal moment for our company, and we are eagerly looking forward to expanding our sphere of influence in the region, thereby providing our valued clientele with an extensive range of trading opportunities and financial instruments.”
Also commenting on the DFSA license, new M4Markets MENA CEO Oscar Asly said:
“I am delighted to officially announce our latest milestone, which marks a significant moment in the journey of M4Markets. In an industry renowned for its fierce competition, we have firmly established ourselves as one of the most reputable brokers in the market.
Our exceptional team, with deep-rooted expertise in investment banking and professional advisory services, has played a pivotal role in upholding the highest standards of quality and unwavering commitment to our clients. With the recent addition of the DFSA license to our credentials, we are eagerly looking forward to expanding our offerings and providing our valued clients with an even more secure and competitive trading experience.”
M4Markets began life in 2020 as an offshore (Seychelles) FX/CFDs brand, but late last year acquired CySEC licensed company ICC Intercertus Capital Ltd (and its CIF license), as noted above, which it has since renamed Harindale Ltd. M4Markets was established by Deepak Jassal, formerly an investment banker with HSBC, KPMG and UBS, and by Theofanis Nakos, a fixed income sales specialist.