Robinhood applies for a trading license in Dubai, accelerating expansion into MENA

Global financial trading platform Robinhood has applied for a license from the Dubai Financial Services Authority (DFSA) to enter the Middle East and North Africa (MENA) market. If this license is approved, Robinhood will be able to legally offer foreign exchange (FX) and other trading services within the United Arab Emirates (UAE).

According to FinanceFeed on the 14th (local time), Robinhood has submitted an application for a trading license to Dubai’s DFSA. In addition, Robinhood appointed Mario Camara, who has extensive experience with financial service licenses and operations, as the head of its Dubai operations. Robinhood explained that it aims to target beginner and young investors in the MENA region, leveraging its intuitive app-based interface and commission-free trading model.

Industry experts have noted that there is rapidly growing demand for online trading platforms—including foreign exchange, stocks, and digital assets (cryptocurrencies)—especially in the Gulf countries. Robinhood currently provides services for trading stocks, ETFs, options, as well as digital assets such as Bitcoin and Ethereum, in the United States and Europe.

Meanwhile, the DFSA license application is only the first step for Robinhood’s expansion into the MENA market. The approval process may take several months or more. Robinhood has not disclosed a concrete date for launching its local services.