Dubai’s brokerage sector showed signs of maturation as the number of firms licensed through the Dubai International Financial Centre climbed to 72 by late March, while combined net profit hit a record $301 million in 2025. The Dubai Financial Services Authority disclosed the figures, which reveal a slowdown in new arrivals despite sustained profitability gains.
Annual intake has declined from nine new firms in 2023 to six in 2024 and four in 2025, signaling that the gold rush into DIFC may be cooling even as the regulator shortened licensing timelines by approximately one-third. Finance Magnates Intelligence projects the total will reach roughly 76 firms by year-end 2026 under a base-case scenario, applying an 11.6 percent compound annual growth rate.
Profitability has been volatile, dropping from $160 million in 2022 to $80 million in 2023 before rebounding sharply to $218 million in 2024 and $301 million last year. The first quarter of 2026 alone generated $132 million in net income, suggesting momentum remains strong for established operators.
The DFSA review also exposed compliance gaps, with 18 percent of surveyed firms lacking documented staff-dealing policies and 32 percent maintaining no register. Individual licensing applications continue to face extended timelines, as illustrated by Pepperstone’s multi-year authorization process. The findings underscore that operational readiness and robust governance frameworks remain critical for firms targeting DIFC entry.
FXnCO Insight
As DIFC brokerage numbers plateau and compliance scrutiny intensifies, new applicants should prioritize staff-trading controls and realistic timelines over expectations of rapid approval.
Source: Finance Magnates