Retail FX and CFDS Broker Neex have announced that the subsidiary of Neex Securities LLC, its subsidiary based in the UAE, has officially received a Class 5 license of Authority Securities & Commodities Authority (SCA) in the United Arab Emirates.
The company said this milestone reinforces the NEEX footprint in the UAE and the wider Middle East, allowing the company to expand marketing and promotion initiatives and introduce its services to customers in the Emirates.
Like many of the recently granted licenses from SCA to CFDS brokers, it is a limited “Class Five” license, which limits NEEX’s activity in the UAE in import and promotion activities. Other category licenses five in 2025 included colleagues, eight CAPs, EC markets, CPT, VPFX and Startrader markets. (A full category 1 license would also allow for brokerage and commercial services and immediate possession of customer capital.)
Richard Wynn, NEEX’s chief executive, said,
“This is a fascinating and strategic milestone for NEEX. Ensuring the SCA license emphasizes our steady commitment to transparency, credibility and promotion of investor confidence in the context of the financial and compliance of the UAE.
About nex
NEEX is based in Hong Kong, but is licensed in Australia and South Africa (and now in the UAE), while there is an offshore arm in Mauritius. The broker mainly focuses on the merchants in the Far East, but recently opened a representative office in Dubai and has tried to expand its footprint in the Mena area, recently hiring Hietham Abdulhalim as head of business development – Mena. Neex also recently hired London’s Richard Wynn executive as a new CEO.