Forex License in the UAE (CMA)

For brokers targeting the UAE’s domestic retail market, the DIFC and ADGM are not the only regulatory path. The federal Capital Market Authority (CMA) offers the definitive onshore solution, authorising brokers to deal directly with clients across the entire UAE mainland. This route is designed exclusively for firms prioritising local client acquisition over regional hub status.

It demands significant capital, genuine physical substance, and a governance framework conducted predominantly in Arabic. These stringent requirements reflect the immense value of direct mainland access. UAE authorities restrict unauthorised solicitation of UAE residents by foreign brokers — reaching UAE clients compliantly requires onshore authorisation.

Regulator Update

It’s Now the CMA, Not the SCA

The Securities and Commodities Authority (SCA) was formally renamed and succeeded by the Capital Market Authority (CMA), effective 1 January 2026. Existing SCA licenses remain valid and are now governed by the CMA. Any guide still referring to the “SCA” as the current regulator is using a superseded name.

License Options

Forex Licensing Options

The appropriate license depends on your business model. Two routes are available to forex and CFD operators:

License Type	Suitable For
Full Forex Brokerage License	Firms executing forex and OTC derivative transactions directly with UAE mainland clients. The full authorisation with the highest capital requirements and most extensive governance framework.
Marketing and Introduction License	Overseas brokers wishing to market services and introduce UAE clients without establishing a full brokerage operation. A lighter authorisation frequently used by international groups already licensed abroad.

Full brokerage or marketing license — which fits your model?

Request a Structuring Assessment

Why the CMA Route

Why Authorise Onshore

Direct UAE Mainland Access

The onshore license permits dealing directly with clients across the entire UAE — the domestic market the DIFC and ADGM free-zone licenses do not reach.

Federal Regulatory Standing

Authorisation by the UAE’s federal regulator, with the credibility and investor-protection framework that carries domestically with UAE-resident clients.

A Localised Offering

The ability to serve UAE residents with AED-denominated accounts, Arabic-language platforms, Islamic (swap-free) accounts and local payment methods.

A Lighter Marketing Route

For groups already licensed abroad, the marketing / introduction license offers a compliant way to reach UAE clients without operating a full domestic brokerage.

Favourable Tax Environment

The UAE’s competitive corporate-tax regime and the complete absence of personal income tax for individuals.

Compliance Checklist

What the CMA Will Expect

Onshore authorisation involves both company formation (approved by the Department of Economic Development) and CMA authorisation of the regulated activity, with substantial local substance.

Requirement	Regulatory Expectation
Onshore UAE Entity	Incorporation of a UAE mainland company through the relevant Department of Economic Development (DED) as the licensed legal entity. Company incorporation alone does not permit the provision of regulated forex services.
CMA Authorisation	Approval from the CMA for the specific regulated activity; the DED incorporation and CMA licence are separate steps.
Regulatory Capital	Maintenance of the minimum paid-up capital required for the authorised activities. For a full forex brokerage, capital can reach approximately AED 10 million. Capital requirements vary by licence category and scale.
Operational Substance	Genuine business operations within the UAE — suitable office premises, qualified personnel and adequate operational infrastructure. Typically at least three qualified individuals across executive, compliance and promotional functions.
Governance & Key Personnel	Suitably qualified directors, senior management and control function holders, including compliance and other mandatory positions required by the CMA.
Compliance Framework	Governance arrangements, internal controls, AML/CFT policies, sanctions controls, client onboarding procedures and ongoing compliance monitoring.
Client Asset Protection	Appropriate segregation and safeguarding of client money and assets, where applicable.
Financial Reporting	Ongoing submission of regulatory returns, financial statements and other reports required by the CMA.
Arabic Documentation	Certain application documents, regulatory submissions and official correspondence are required to be prepared or submitted in Arabic.

The Authorisation Process

From Incorporation to Live License

Onshore authorisation combines DED company formation with CMA authorisation, followed by a pre-approval stage during which the firm fulfils its operational conditions. Finjuris manages the process throughout — including the Arabic-language documentation.

Stage 1

Incorporation

Form the onshore UAE entity with the relevant DED, aligned with CMA requirements.
Obtain the necessary No Objection Certificate.

Stage 2

Documentation

Prepare governance manuals, KYC/AML policies, financial projections and the compliance framework to the CMA’s standard.
Prepare Arabic-language regulatory submissions.

Stage 3

Application & Review

Submit to the CMA and respond promptly to clarification requests during the evaluation.
Manage regulator engagement through to pre-approval.

Stage 4

Pre-Approval & Launch

On pre-approval, complete the operational conditions — office premises, mandatory key staff and capital injection — within the period allowed.
Receive the licence and commence operations.

Map your onshore UAE timeline.

Speak to Finjuris

Tax Treatment

Taxation in the UAE

Element	Rate
Corporate Tax — up to AED 375,000	0%
Corporate Tax — above AED 375,000	9%
Personal Income Tax	0%
VAT	5%

An onshore company does not access the 0% Qualifying Free Zone Person rate available in the DIFC or ADGM, but it benefits from full UAE market access without the free-zone restrictions. The right choice between onshore and free zone depends on whether direct mainland market access or the free-zone tax position matters more to your model. Finjuris models both.

This is general information, not tax advice. Outcomes depend on your structure, income and the rules in force at the time; obtain tailored advice before relying on any figure.

Choosing the Right UAE Route

Onshore or Free Zone?

The UAE offers three distinct regulatory homes for a forex brokerage, and the right one depends on the market you intend to serve.

CMA — Onshore

The route to deal directly with UAE-mainland clients, with the highest capital and a primarily Arabic-language framework. Best where the domestic UAE market is the core objective.

DFSA — DIFC

A tier-one, English common-law financial-centre regime with strong international recognition and the Qualifying Free Zone Person (0%) tax position. Best where institutional credibility and international clients are the priority.

FSRA — ADGM

Closely comparable to the DIFC, with particular strength in fintech and virtual assets. Best where Abu Dhabi location, virtual-asset scope or the ADGM Courts are preferable to their DIFC equivalents.

We advise across all three UAE regulatory routes.

Get a Route Assessment

Our Approach

Why Work With Finjuris

Our team combines legal, regulatory and operational expertise across UAE financial services licensing — onshore and across the financial free zones — managed from within the UAE.

End-to-End Project Management

From DED incorporation to CMA authorisation and operational launch, coordinated as one engagement with a single UAE-based contact.

Arabic-Language Expertise

CMA regulatory documentation is primarily in Arabic. As a UAE-based advisory, we manage this directly — no translation barrier for foreign applicants.

Governance & Compliance Documentation

Preparation of the full governance manuals, KYC/AML policies, financial projections and compliance framework to the CMA’s standard.

All Three UAE Routes

In addition to CMA authorisations, we advise on DFSA and FSRA licensing — enabling the right choice for your model, not a default recommendation.

Ongoing Compliance Support

AML/CFT implementation, risk management framework design and continuing regulatory support following authorisation.

FAQ

Frequently Asked Questions

Both names refer to the same regulator. The Securities and Commodities Authority (SCA) was formally renamed and succeeded by the Capital Market Authority (CMA), effective 1 January 2026. Existing SCA licenses remain valid and are now governed by the CMA.

The onshore CMA license permits dealing directly with clients across the UAE mainland — the domestic market the free-zone licenses do not reach. The free zones offer English common-law frameworks, strong international recognition and the Qualifying Free Zone Person tax position. The choice depends on your target market.

For a full onshore forex / OTC-derivatives brokerage, capital can reach approximately AED 10 million, depending on activity and scale. The marketing / introduction route carries materially lower capital. We confirm the figure for your specific route and scope.

A lighter authorisation allowing a firm to market a foreign-licensed broker’s services to UAE clients and arrange introductions, without operating a full domestic brokerage — frequently used by international groups that already hold a license abroad.

No. UAE authorities restrict unauthorised solicitation of UAE residents by foreign brokers. Reaching UAE clients compliantly requires onshore authorisation — either a full brokerage or a marketing / introduction license.

Onshore licensing involves genuine substance — office premises and qualified local staff, typically at least three qualified individuals across executive, compliance and promotional functions — plus DED company formation and a No Objection Certificate.

Under the standard UAE corporate-tax regime: 0% on taxable income up to AED 375,000 and 9% above it, with no personal income tax. An onshore company does not access the free zones’ 0% Qualifying Free Zone Person rate but has full mainland market access.

Largely, yes. CMA regulatory documentation is primarily in Arabic, with official English translations not always available. As a UAE-based advisory, Finjuris manages this directly as part of the engagement.

Get Started

Establish Your Onshore UAE Brokerage With Finjuris

Whether you are establishing a new forex brokerage, expanding into the UAE market, or assessing the most appropriate regulatory jurisdiction, Finjuris provides practical regulatory guidance throughout the licensing lifecycle — from first consultation through to operational readiness.

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