IC Markets Expands Globally With Middle East Move

IC Markets plans Middle East expansion, appoints Jason Hughes, and seeks UAE license to grow global forex presence.

Key Points:

• IC Markets is seeking regulatory approval to enter the UAE market, expanding its global reach to the Middle East.
• Jason Hughes, a seasoned industry expert, has been appointed General Manager to lead the broker’s regional operations.

IC Markets has announced its intention to enter the Middle East market as part of its global expansion strategy. In a press release the broker revealed plans to obtain a license in the United Arab Emirates (UAE), marking a significant move to establish its presence in the region.

While IC Markets has not yet disclosed which UAE financial regulator it intends to work with, the options include the Emirates Securities and Commodities Authority (ESCA), the Dubai Financial Services Authority (DFSA), and the Abu Dhabi Global Market (ADGM) — three of the most commonly selected regulatory bodies for financial service providers in the Middle East.

IC Markets Expands Globally With Middle East Move

To support this regional push, IC Markets has appointed industry veteran Jason Hughes as General Manager for the Middle East. With nearly two decades of experience at leading brokerage firms such as eToro, Exinity, ADSS, CMC Markets, and IG Group, Hughes will play a key role in shaping the broker’s regional strategy.

“In the Middle East, the Group is progressing toward securing regulatory approval in the United Arab Emirates, with plans to offer a high-touch, relationship-managed service tailored to the region’s trading community,” IC Markets stated in its announcement.

This development also follows the broker’s continued expansion across multiple global markets. IC Markets recently bolstered its presence in Southeast Asia by opening a new service center in Malaysia and investing in technology hubs in the Philippines. It also maintains a growing footprint in Africa.

With the addition of the Middle East to its portfolio, IC Markets is positioning itself as a global player with multi-regulatory credentials, aiming to provide localized support and enhanced services in each of its key markets.

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