Australian broker Blueberry Markets has secured a Category 5 license from the United Arab Emirates’ new Capital Market Authority, becoming one of the first international brokers approved under the reformed regulatory framework. The license, confirmed on the CMA’s public register this week, permits Blueberry to market its services within the UAE and introduce professional and institutional clients to its ASIC-regulated Australian entity. The firm appointed Gescard Abi El Hessen, formerly of Pepperstone and IC Markets, as Category Head.
Category 5 licenses allow marketing and client introduction but prohibit local fund custody or trade execution, making them the preferred entry route for global brokers targeting the region’s high-net-worth market. Blueberry joins XM, XS.com, Eightcap, and STARTRADER with similar 2025-2026 approvals. The CMA replaced the Securities and Commodities Authority on January 1, 2026, bringing stricter enforcement including a recent AED 5 million fine for compliance violations.
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Brokers should monitor whether XTB’s Category 1 upgrade gains competitive traction, potentially forcing marketing-only licensees to escalate their UAE authorizations sooner than planned.
Source: Finance Magnates