IC Markets Hires Jason Hughes for UAE Expansion

Australia-based retail FX and CFDs broker IC Markets has appointed industry veteran Jason Hughes as General Manager of its newly launched United Arab Emirates operation, marking a significant step in its global expansion strategy.

Hughes brings nearly two decades of experience in the online trading and financial services sector, with a strong footprint in the UAE and Asia-Pacific regions. Most recently, he served as the Senior Executive Officer for eToro in the UAE, a position he has held since 2022. Moreover, his prior roles include senior leadership positions at Exinity, ADSS, CMC Markets, and IG, underscoring a career steeped in the growth and development of top-tier retail trading companies.

IC Markets Hires Jason Hughes for UAE Expansion

IC Markets, already licensed in multiple global jurisdictions, is not currently regulated in the UAE. However, the broker is reportedly eyeing one of the available local licenses, either from Dubai’s DIFC or the Securities and Commodities Authority (SCA), as it positions itself for deeper integration into the region’s financial ecosystem.

The move also aligns with a broader strategic pivot by IC Markets, spearheaded by CEO and controlling shareholder Andrew Budzinski, who recently relocated from Cyprus to Dubai. The company has been gradually shifting its operational hub to the UAE, signaling a commitment to tapping into the region’s growing demand for online trading services and robust fintech infrastructure.

IC Markets views Jason Hughes’ appointment as a major asset in this effort, given his intimate understanding of the regulatory landscape and market dynamics in the Middle East. His leadership at companies like ADSS and Exinity, and his early tenure at IG and CMC Markets, has given him a well-rounded perspective on managing growth in both mature and emerging markets.

Industry observers view this development as a clear indicator of IC Markets’ ambitions to become a key player in the UAE’s competitive FX and CFDs brokerage sector. As regulatory frameworks evolve and the region continues to attract international financial players, IC Markets’ strategic positioning and experienced leadership could give it a competitive edge.
Founded in 2007, IC Markets is one of the world’s leading forex brokers, known for its strong emphasis on low-latency trading, institutional-grade liquidity, and advanced trading platforms. The company serves a global clientele and regulates itself in multiple financial jurisdictions.

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