FNG Exclusive… FNG has learned that yet another offshore CFDs broker has received a UAE CMA Category Five license, with the latest recipient being Dominion Markets.

Dominion Markets has been operating since 2020, formally domiciled in Comoros Union and licensed offshore in Mauritius, but managed mainly from Dubai. The company was established and is owned by online trading guru Raja Zahoor (pictured above), also known by his Instagram and YouTube handle as Raja Banks. Raja Banks has more than 600,000 followers / subscribers on each of Instagram and YouTube. He has more than 1,000 videos uploaded to his YouTube channel, with more than 47 million total views.

Raja also operates retail prop trading outfit Dominion Funding.

A UAE CMA (formerly SCA) license has become the most sought-after in the FX and CFDs world over the past year, as many brokers and liquidity firms are seeking to expand in the country and in the MENA region in general. The Category Five license limits Dominion Markets to “Introduction” activities, and does not authorize the company to conduct trading operations, manage portfolios, or execute client orders, which would require a Category One license.

Other recently granted UAE licensees include BeeMarkets, Mitrade, Empire Markets (FXEM), PU Prime, INFINOX, Prima Capital, Finalto, Pepperstone, XM, XS.com, Neex, Tradeview, Eightcap,  EC Markets, CPT Markets, VPFX, Rostro Group, and STARTRADER.