Blueberry UAE Category 5 license has been granted to the Australian brokerage firm, placing it among the first international brokers approved directly by the new Capital Market Authority.
The approval appeared on the CMA public register this week. It allows Blueberry to promote and market its brand in the United Arab Emirates. The firm also named Gescard Abi El Hessen as its local Category Head. Previously, he held senior roles at Pepperstone and IC Markets.
Category 5 does not give a broker full local dealing rights. Instead, it lets firms introduce professional and institutional clients in the UAE to a regulated entity abroad. In Blueberry’s case, that means its ASIC-regulated Australian firm or its VFSC-registered offshore unit.
Blueberry UAE Category 5 License Scope
This route has become a common first step for global brokers entering the Middle East. As a result, Blueberry joins XM, XS.com, Eightcap and STARTRADER, which won similar approvals in 2025 and 2026.
Blueberry’s approval is also one of the first under the new framework. The CMA assumed all rights and obligations from the Securities and Commodities Authority on January 1, 2026. That change followed federal decrees issued in late 2025.
The new setup has brought stricter oversight. In 2025, the regulator fined a licensed firm AED 5 million, or about $1.36 million, over anti-money-laundering breaches and deceptive practices. Meanwhile, it also issued investor warnings, including a recent alert against Golden Brokers Limited.
CMA Transition Rules in the UAE
Blueberry UAE Category 5 license shows how new applicants are entering the CMA system directly. By contrast, firms that held SCA licenses before 2026 have until January 1, 2027 to complete their move to the new framework.
Recent approvals also point to another pattern. Firms are increasingly choosing locally based executives with regulatory experience to run their UAE operations. Blueberry followed that path with the appointment of Abi El Hessen.
Most firms have chosen the marketing-only Category 5 route. However, XTB has already begun moving to Category 1, which permits full local brokerage with custody.
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Source: Finance Magnates
