Exinity Group, the umbrella organization of Andrey Dashin’s brokerage brands, has launched its first product under its Abu Dhabi Global Market (ADGM) license, the broker group announced on Thursday.
Dubbed Exinity Trader PRO, the platform will be first launched in the United Arab Emirates and the wider GCC area. It will offer services to sophisticated investors and target traders who are willing to change platforms due to poor services and high fees.
The platform will offer competitive spreads and commission-free services on trading with US shares. Additionally, the announcement highlighted that FX and CFDs commissions will be as low as $0.20 per lot.
“This launch marks a key milestone in our global growth journey, which we are starting here in the UAE,” said Jason Hughes, Exinity’s Commercial Director of MENA.
“With our particular focus on fast-developing regions around the world, including MENA and Africa, the UAE represents an ideal springboard for our growth plans, thanks to its unique role as a bridge between established and emerging markets and its commitment to innovation and fintech.”
Focusing Is on Expansion
Dashin established Exinity last year as the umbrella of his other forex brands, like FXTM and Alpari. In addition, the platform is pushing for global expansions since its launch, and one of its subsidiaries gained an operational license from the Kenyan regulator.
Moreover, the group has plans to launch a mobile trading app across the MENA region in the third quarter of 2021.
“The UAE is the largest fintech hub in the MENA region with ADGM playing an important role in creating a strong ecosystem for the continued success of the sector,” Exinity Co-CEO, Lex Webster added. “The UAE is also home to tech-savvy investors, many of whom are looking for innovative, market-leading trading and risk management solutions to help them build wealth.”