Exclusive FNG interview… Following our recent exclusive report that Retail FX and CFDs broker Capital.com had received a UAE SCA Class 1 license and is strategically expanding its MENA business, we thought it would be a good time to catch up with Tarik Chebib, Capital.com CEO Middle East.
What are Capital.com’s plans in the MENA region?
How does Capital.com approach AI alongside trading?
Here’s what Tarik had to say about these topics, and more.
FNG: Hi Tarik, and thank you for joining us today. You have recently obtained a license to operate in the UAE. What are your plans for the area and what trends do you see emerging?
Tariq: Capital.com mainly targets the UAE market and from there we see opportunities to branch out into the markets of the Kingdom of Saudi Arabia, Bahrain, Oman and Kuwait. We also see our UAE hub as a hub to reach new emerging markets in Africa and Asia.
The retail investor segment is growing rapidly in the MENA region. More and more people are turning to self-directed trading—largely spurred by the launch of cryptocurrencies, the retail segment is beginning to move beyond speculative markets and into more traditional markets like gold, natural gas, and indices . We believe there is an opportunity to support traders in this area as they move up the ‘trading cycle’ and begin to diversify into different markets and trading instruments.
As a platform committed to supporting its traders with free and accessible educational tools, Capital.com is well positioned to help MENA traders increase their confidence and improve their understanding of the financial markets.
Capital.com’s foray into the UAE is further supported by the company’s strong growth results over the past few years. Last year, our total customer transaction volumes exceeded $1 trillion for the first time—43% higher than the previous year. As a result of its impressive year-on-year growth, Capital.com has been ranked among the 50 fastest growing technology companies in the Deloitte Technology Fast 50 Middle East & Cyprus 2023 Awards.
FNG: Capital.com is known for its award-winning UX support and trading education. What features have you recently introduced to further support your offering?
Tariq: We are indeed known for our award-winning UX and training support, which has won us many awards over the years, including being voted Best in Class for Training and Ease of Use at the Forex Brokers Awards for two years (2023 and 2024) and Best Total Trading Platform at Online Money Awards 2024. We are always looking for new ways we can leverage technology to support and enhance our customers’ trading experience.
In line with this commitment, we recently announced a strategic partnership with TradingView, the world’s leading provider of charting and analysis tools. Through this partnership, our clients can now take advantage of TradingView’s comprehensive financial visualization tools without leaving the Capital.com platform. This not only gives our customers added convenience and a seamless user experience, but also helps them save valuable time when they are in the middle of a trade.
We’ve also made some improvements to our app platform, including enabling customizable home screens and adding more dynamic widgets. We have also made further adjustments to ensure more efficient pricing for our customers. To this end, we have recently removed overnight funding for non-leveraged (1:1) CFD trading in shares and cryptocurrencies (crypto trading is not available to UK retail clients). This is designed to help traders reduce their costs as they explore long-term investment-style strategies.
FNG: How do you work with the public and private sectors in the UAE and beyond, particularly in the context of sustainable development and technological advancement?
Tariq: We often work with strategic partners, whether it’s integrating with global payment platforms to give our customers a better user experience or working with public sector bodies to support the communities in which we operate.
Specifically within the UAE, in 2022, the company sponsored the UAE’s NextGenTalent initiative, which aimed to develop the skills of local youth and prepare future leaders in the technology sector. NextGenTalent brought together 5,000 students from Emirati universities to learn key advanced technology skills from industry leaders such as META, Oracle, Amazon, Google, Microsoft and Stripe. Capital.com was also one of the sponsors of the Ministry of Economy’s activities at the inaugural COP 28 Trade Day last December.
FNG: What are the challenges of entry and expansion in the MENA region compared to other regions?
Tariq: The sector is highly competitive and there are many brokers and platforms vying for attention across the MENA region. Capital.com plays the big game. Moving beyond trading, we focus on providing our traders with next generation technology and training, always giving them that extra support so they can build their confidence as traders over time. Helping traders develop their understanding of the financial markets and make better informed decisions is central to our DNA.
FNG: How do you see AI evolving alongside trading?
Tariq: AI has the potential to support traders by helping them unlearn bad trading behaviors while encouraging and promoting their best habits. It can also improve efficiency in an organization, freeing up our people’s time so they can work on more strategic, high-value projects that can really move the business forward. Embedding AI is a core part of our business as a next-generation technology company, and we’re excited about the future.
FNG: How does the UAE operating environment support fintech and trading platforms like Capital.com?
Tariq: Capital.com has opened its first subsidiary in the region as part of the UAE’s NextGenFDI Program, a government initiative that allows cutting-edge companies from around the world to establish and expand their operations in the UAE. Such initiatives go a long way in establishing the region as business friendly. The UAE’s supportive market entry requirements and thriving knowledge-based economy made it an exciting choice for our first subsidiary in the region.
In addition, the SCA applies enhanced levels of regulation to the UAE securities market, making it one of the most comprehensive and respected regulators in the world. The approval of our license confirms our commitment to the highest compliance standards worldwide, marking another important milestone in Capital.com’s strategic development as a fast-growing, regulated trading platform.