Global trading and investment platform eToro has secured approval from the Abu Dhabi Financial Markets Authority (ADGM) to operate in the United Arab Emirates (UAE). The Financial Services Permission (FSP) granted by the Financial Services Regulatory Authority of ADGM permits eToro to function as a broker for securities, derivatives, and cryptoassets in the UAE.
Recognizing Abu Dhabi as a burgeoning fintech hub, eToro views the approval as a pivotal milestone in its global expansion. The CEO of eToro, Yoni Assia, expressed excitement about becoming part of Abu Dhabi’s flourishing fintech ecosystem. The company aims to deepen its relationships in the dynamic UAE market and assist clients in growing their financial knowledge and wealth as part of the global community of investors.
ADGM, known for its dynamic ecosystem and progressive regulations, welcomes eToro to its vibrant and trusted environment. The UAE’s strategic position in global finance is expected to be reinforced by the addition of eToro, contributing to ADGM’s status as the largest regulated jurisdiction of virtual assets in the MENA region.
Founded in 2007, eToro operates in over 100 countries, with more than 34 million registered users. The platform allows users to trade traditional assets such as equities, currencies, and commodities, as well as newer assets like cryptocurrencies. eToro offers various investment options, including direct trading, Smart Portfolios, and the ability to replicate the investment strategies of other users on the platform.