CFDs broker BtcDana has announced that BTC Dana Financial Services L.L.C S.O.C, its UAE-based entity, has been granted a Category 5 license by the UAE Capital Market Authority (CMA). The license falls within the category of Arrangement and Advice, authorising Btc Dana UAE to conduct introduction and promotion activities exclusively.

Btc Dana UAE

Btc Dana UAE acts as an introducer only and does not execute trades or hold client funds.

Operating since 2020, BtcDana (btcdana.com) is managed mainly from Dubai but operates as an offshore (Mauritius domiciled) broker via Dana Global Limited.

UAE CMA license

A UAE CMA 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. Other recently granted UAE licensees include ActivTrades, FP Markets, BitDelta, Vantage, 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.

The company said that the granting of the CMA Category 5 license marks an important step in BtcDana’s development in the UAE, one of the region’s leading financial markets. Under the license, Btc Dana UAE is authorised to conduct Introduction and Promotion activities in accordance with applicable UAE regulatory requirements. Where appropriate and subject to applicable requirements, prospective clients may be introduced to affiliated entities that provide trading services through the BtcDana brand under their respective regulatory frameworks.

Peter Chow, Founder of BtcDana, commented,

“The CMA Category 5 licence represents an important step in BtcDana’s UAE development. It provides Btc Dana Financial Services with a clearly defined framework for conducting Introduction and Promotion activities in the local market. As we build our UAE presence, we remain committed to regulatory clarity, transparent communication and operating strictly within the permissions granted to each relevant entity.”