Client
EightCap Group
Industry
Existing Forex Broker
Location
Australia → UAE Expansion
How WBG Helped EightCap Secure SCA Licensing & Launch in the UAE
Services
- SCA CAT 5 Licensing
- Onshore Bank Account Setu
- Compliance Advisory & Post-Regulatory Services
Background
EightCap is a well-known international forex broker with a reputation for strong tech infrastructure and global client servicing. As part of its strategic expansion, the firm aimed to enter the UAE and GCC markets. However, local regulations, high costs, and operational barriers presented significant challenges.
The Challenge
Entering the UAE as a licensed brokerage requires more than just regulatory approval—it demands precise execution, trusted local connections, and deep understanding of the Securities and Commodities Authority (SCA) framework.
EightCap’s leadership had three priorities:
- Obtain an SCA license (specifically CAT 5: Introduction to Financial Services & Financial Consultancy)
- Set up a compliant bank account within the UAE’s strict regulatory environment
- Minimize costs and risks during setup and launch
Our Solution
WBG delivered an end-to-end solution tailored to EightCap’s needs:
- SCA CAT 5 Licensing
We secured their regulatory approval under the correct activity codes, ensuring long-term compliance and operational freedom within the UAE. - Onshore Bank Account Setup
We secured their regulatory approval under the correct activity codes, ensuring long-term compliance and operational freedom within the UAE. - Post-Setup Compliance Support
We advised on:
-SCA reporting protocols
-Payment structure optimization
-Ongoing financial consultancy for UAE market alignment
The Outcome
EightCap successfully entered the UAE market with:
- A fully active SCA CAT 5 license
- A live corporate bank account
- Zero risk of non-compliance, legal penalties, or reporting delays
We also helped them reduce setup costs by over AED 190,000, covering both incorporation and licensing expenses.
Key Metrics
Cost Reduction:
- AED 80K saved on incorporation
- AED 110K saved on licensing & compliance
Risk Avoidance:
- No delays
- No legal friction
- Fully aligned with SCA from day one
Operational Milestone:
- EightCap is now running under full regulatory coverage in the UAE
Client Feedback
We worked closely with Wael and WBG to successfully draft and submit our SCA Financial Services License application. From the start, their practical experience stood out—not only in licensing but also in designing and adapting our systems for a successful MENA market entry. This showed WBG’s and Wael’s strong leadership and value as a long-term business partner
Need to Enter the UAE Market Smoothly?
Let WBG help you do it risk-free and fully licensed