The Dubai International Financial Centre (DIFC) has solidified its status as the leading global financial center in the Middle East, Africa, and South Asia (MEASA) region, attracting a growing number of international brokerage firms. With 70 brokerage firms now established within the Centre, DIFC has become the preferred choice for global players in the financial services industry.
In 2023 alone, the Dubai Financial Services Authority (DFSA) authorized 12 new brokerage firms, underscoring the increasing demand for brokerage services. The majority of these firms hail from the MEASA region, Europe, the UK, and the US, reflecting the area’s global appeal.
Notably, five of the brokerage firms operating in DIFC rank among the top 10 interdealer brokers worldwide by volume. These include major players such as BGC Brokers L.P., GFI Securities Limited, Interactive Brokers, TP ICAP Limited, and Tradition Limited. Together, these firms offer a comprehensive range of trade execution and broker-dealer services.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, emphasized the significance of this influx: “The consistent inflow of top firms underscores Dubai’s attractiveness as a global financial services hub and DIFC’s world-class value proposition for industry players.”
Over its 20-year history, DIFC has transformed into a premier center for financial excellence, fostering an ecosystem that supports innovation and capital mobilization. The Centre reported record growth in the first half of 2024, with 6,153 active companies, marking a 24% increase from 4,949 in 2023. This total includes 820 regulated firms, all fully licensed by the DFSA, establishing DIFC as the largest cluster of financial firms in the MEASA region.
Brokerage firms play a crucial role in connecting buyers and sellers to facilitate transactions in equities, fixed income, and commodities, earning commissions or fees upon completion. With its robust infrastructure and regulatory framework, DIFC continues to attract top-tier brokerage firms, reinforcing Dubai’s position as a key player in the global financial market.
