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اردو
Abstract：Dubai’s regulator says brokerage firms in the DIFC are expanding faster than their internal controls, highlighting gaps in staff trading oversight, record-keeping, and compliance culture as the sector grows rapidly.
Brokerage firms operating within Dubais financial hub have expanded at a pace that is now outstripping the internal systems meant to control employee trading activity, according to a new supervisory review from the Dubai Financial Services Authority.
The findings were published in the regulators first “Conduct Supervisory Pulse,” which assessed how firms manage personal account dealing and related conflicts of interest. It forms part of a broader supervisory program set to continue through 2026.
ContentsThe review shows a sector that has scaled quickly in recent years. The number of authorized brokerage firms in the Dubai International Financial Centre rose from 49 in 2022 to 72 by March 2026, a jump of nearly 70%.
At the same time, staffing levels across the industry have nearly doubled, while profitability has surged sharply. According to the regulator, combined net profit among brokerage firms increased from $80 million in 2023 to $301 million in 2025.
The regulator noted that this expansion has required faster licensing processes and heavier supervisory workloads, particularly after application volumes rose significantly in 2025.
Despite growth in size and revenue, the review identified significant gaps in how firms manage employee trading activity.
A survey conducted by the Dubai Financial Services Authority found that 18% of firms did not have documented policies governing personal account dealing. In addition, 32% of firms had no formal register tracking employee trades, whether manual or electronic.
More than half of the respondents said that approval or reporting requirements applied only to certain types of transactions, indicating inconsistent internal standards across the sector.
The regulator also identified discrepancies during its supervisory checks, where reported employee trading activity did not always align with independent verification. In one case, a firm reported no violations despite evidence showing breaches had occurred.
According to the authority, weak or incomplete control systems often reflect broader issues in governance and compliance culture.
The findings come at a time when Dubai continues to attract global brokerage firms seeking regulatory access to regional markets.
Over recent years, international brokers such as Pepperstone, XM, Plus500, XTB, and RoboMarkets have established or expanded operations in the jurisdiction.
Regulators have attributed part of this growth to Dubais position between major global trading time zones and its access to high-value retail and institutional clients.
The personal trading review is part of a broader initiative examining market conduct across brokerage firms. Future phases will focus on areas such as best execution practices and communications record-keeping.
The regulator said firms with inadequate systems may face supervisory action if weaknesses are not addressed. It also pointed to common issues such as over-reliance on employee self-reporting, limited post-trade monitoring, and inconsistent documentation.
As the brokerage sector continues to expand, the Dubai regulator indicated that firms are expected to scale their compliance frameworks in line with their business growth.
The review suggests that supervision will increasingly focus not only on licensing standards, but also on how effectively firms manage internal risks linked to employee activity and trading behavior.
WikiFX is a global forex broker information and verification platform that provides regulatory data, broker background insights, and risk monitoring tools. It aims to improve transparency in the financial trading industry and help users assess brokers before engaging in trading activities.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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