SCA or the Securities and Commodities Authority of the UAE is the regulatory body for the non-banking financial sector including Forex. The body was established in 2000. Their goals include enhancing the capital market and stimulating national economic growth. Their scope of duties includes protection of investors, fair practice, market efficiency, proposal of relevant legislation, raising awareness, investment development, etc.
The UAE, especially Dubai, acquired an international status, and they rely on international partnerships and collaboration in many economic aspects. Therefore, it is no surprise that many Forex brokers opted to extend their services to the UAE, who welcome internationals with open arms. They are guest-friendly and open to new business ideas. It could be a real adventure to trade in an exotic market like the UAE Forex market. Moreover, an additional plus is that European and American broker companies can be easily found. This is especially appealing to adventurous traders who always want to try out new markets.
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