ThinkForex acquires Admiral Markets Middle East

18 March,, Lagos — ThinkForex, the Australia headquartered, FCA and ASIC regulated FX broker describes itself the most beneficial provider of pricing and order fills. The firm claims to leverage deep liquidity relationships and intelligent price aggregation to deliver optimal trade execution. In alignment with their long term strategy, the broker has been proving its aspiration for world domination, as ThinkForex acquires Admiral Markets Middle East subsidiary in Dubai. Notably, ThinkForex will be expanding its regulatory oversight to three regions.

Just a few months ago, the Australian headquartered broker announced proudly that it obtained a FCA license, aside its registered license at the ASIC. However, the FCA license is one of the most prestigious regulatory agencies in the industry. Having acquired the FCA license earlier this year, while ThinkForex acquires Admiral Markets Middle East,  ThinkForex co-founder, Mr. Faizan Anees expressed his satisfaction and strategy alignment:

“Having just obtained our FCA licence, the introduction of our Dubai office is a continuation of our international expansion. The rest of the year is certainly poised to become a ground-breaking period for the group.”

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How will the new acquisition enrich Thinkforex?

ThinkForex acquires Admiral Markets Middle East and aims for a large vision, as it will additionally entitles the firm's membership for the Dubai Gold & Commodities Exchange. A great advantage some might say, but is it?

Of course DGCX membership  will come in handy for the business, due to the fact that Dubai gradually evolves to become one of the world leading business hubs. Notwithstanding, the region already holds this status in the middle east region.

No right to market OTC products in the UAE!

It should also be noted that the DGCX is not considered to be a regulatory body, but rather just an exchange on the existing platforms available to clients for the region. It simply provides a low liquidity product line for commodities trading.

Nevertheless, DMCC license doesn't give ThinkForex the right to market their OTC products in the UAE and Spot FX is not allowed under the umbrella of the DMCC license. Hence, if any financial broker knowingly offer any Forex trading under their DMCC license they would be braking the terms of their DGCX deceleration which would be against the law.

AtoZ Forex will be in contact with DMCC for their official view on this subject.

Based on our knowledge, DGCX is a part of DMCC which is not a regualtor but an exchange center where Spot FX is not part of it. AtoZ Forex editor Jacob Maas contacted ThinkForex support team with regard to license type and clarification. However it appears that even the ThinkForex support team is not fully aware of the new acquisition.

ThinkForex Support not aware of the acquisition , ThinkForex acquires Admiral Markets Middle East ThinkForex Support not aware of the acquisition

Meanwhile the personnel to run the ThinkForex Middle East branch are

  • Mahmood Allaham as the new office’s leader/ Director of Sales for Middle East and North Africa (MENA).
  • Gareth Thomas as the Managing Director
  • James Raiski as Head of Institutional Sales

Think we missed something? Let us know down in the comments section.

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