Online financial derivatives provider, MultiBank Group, has reportedly obtained a strategic and reputable commercial license from the Dubai Financial Services Authority (DFSA). The company has been consistent in its worldwide expansion by securing the DFSA regulatory license in the DIFC, state sources.
According to Courtney Fitzsimmons, MEX Australia’s CEO, the company has thoroughly enjoyed collaborating with the DFSA throughout this process and is proud to take a place here in the DIFC. The company is excited to add to its regulatory arsenal and eagerly looks ahead to making its mark in Dubai, added Fitzsimmons.
Sources cite that the addition of this coveted license broadens the group’s regulatory arsenal to comprise heavily regulated companies regulated by CIMA in the Cayman Islands, ASIC in Australia, FMA in Austria, BaFin in Germany, CNMV in Spain, and FSC in the British Virgin Islands. With the opening of the new office in the DIFC, MultiBank Group will now function via 21 offices spread across 5 continents.
In the words of Naser Taher, the Chairman of MultiBank Group, the DFSA license represents a momentous occasion for the company and is a testament to its strength and dedication to the MENA region. The approval from DFSA highlights the company’s commitment to continue the provision of institutional and retail customers with the highest level of security of funds and world class services, added Taher.
For the uninitiated, MultiBank Group was set up in 2005 in the state of California in the United States. The organization has a daily trading volume of more than USD 7.2 billion and serves a broad clientele base of over 280,000 clients across 90 nations.
The company has developed into one of the largest online financial derivatives providers at the global level and reportedly delivers a combination of the most award-winning and advanced trading platforms, up to a leverage of 500:1 on CFD trading with products comprising Digital Assets, Shares, Metals, Commodities, Indices, and Foreign Exchange.