From SCA to CMA: The Essential Framework for Foreign FX & CFD Brokers Entering the UAE Mainland

In recent times, another CFD broker received Category 1 and 2 licences in the UAE from the CMA. This occurred just over a year after the firm obtained a Category 5 licence. What do these categories mean, and why have they become so prominent recently?

With effect from January 1, 2026, the United Arab Emirates (UAE) has implemented a material recalibration of its capital markets regime, principally through Federal Decree-Law No. 32 of 2025 (the CMA Establishment Law) and Federal Decree-Law No. 33 of 2025 (the CMA Regulatory Law). These new laws introduce a number of updates to the UAE’s capital markets framework, including the renaming of the Securities and Commodities Authority (SCA) to the Capital Market Authority (CMA), supported by a significantly expanded statutory mandate.