This MenaCorp Financial Services review examines the firm’s regulatory structure, trading services, and forex offerings. Based in the United Arab Emirates, MenaCorp is one of the region’s leading investment and brokerage firms, licensed by the Securities and Commodities Authority (SCA) of the UAE. The company offers institutional and retail access to equities, fixed income, and OTC foreign exchange trading, with a primary focus on regional markets and professional client services.

Regulation and Safety

MenaCorp Financial Services operates under full regulatory supervision in the UAE:

• Securities and Commodities Authority (SCA): License No. 27/2001
• Abu Dhabi Department of Economic Development (DED) commercial registration
• Subject to annual audits, AML compliance, and capital adequacy requirements

The firm complies with local investor protection frameworks, client asset segregation, and transparency standards mandated by the SCA.

Execution Model and Trading Platforms

MenaCorp provides both agency and principal-based execution depending on the asset class and client profile. For forex and OTC instruments, execution is typically offered via:

• Direct dealing desk with access to interbank liquidity
• Institutional-grade platforms and FIX connectivity (by arrangement)
• Online trading portals for equities and bonds (ADX, DFM, Nasdaq Dubai)

The firm does not offer MetaTrader (MT4/MT5) or cTrader for retail FX. Retail access to forex is limited and generally offered through advisory or discretionary channels.

Markets and Instruments

MenaCorp offers access to regional and global markets across various asset classes:

• Equities – UAE (ADX, DFM), GCC, and global markets
• Fixed income – Sovereign and corporate bonds
• Foreign exchange – Spot FX and OTC FX solutions (institutional clients)
• Commodities – Structured via counterparties
• Derivatives – Limited access for institutional clients

CFDs, cryptocurrencies, and speculative retail leveraged products are not supported under UAE SCA regulations.

Accounts, Spreads and Leverage

MenaCorp structures accounts based on client classification and asset class:

• Retail equities accounts: AED or USD-based, with access to UAE markets
• Institutional forex accounts: Customisable pricing and liquidity access
• Spreads: Determined by interbank pricing and counterparty conditions
• Leverage: No retail leverage for forex; institutional margin upon negotiation

Retail clients must meet KYC/AML and income criteria before access is granted to any OTC product.

Funding and Base Currencies

Funding and settlement are managed through regional banking systems with AED and USD as the primary base currencies:

• Bank wire transfers (within UAE and internationally)
• In-house treasury for settlement of FX and bond trades
• No support for credit card or crypto deposits

Same-day settlements are common for domestic equities; T+2 for regional instruments; spot conventions for FX.

Client Protections and Features

• Regulated by SCA with capital adequacy compliance
• Client funds are segregated and held in custodial banks
• Full KYC/AML onboarding process
• Secure client portal and trade confirmation system
• Risk management tools available to institutional clients

Institutional and Retail Offering

MenaCorp specialises in institutional and high-net-worth client servicing:

• Institutional: FX dealing desk, fixed income, margin trading, advisory services
• Retail: UAE equities access, no leveraged FX trading, advisory-driven execution

There is no offering of speculative retail trading platforms or high-risk products.

Pros

• Regulated by UAE SCA with strong governance
• Direct market access to ADX, DFM, and Nasdaq Dubai
• Custom FX and fixed income services for institutions
• Segregated client funds and transparent operations
• Multilingual support and local presence

Cons

• No MT4/MT5 or retail FX trading platform
• Forex services limited to institutions and HNW clients
• No crypto, CFD, or leveraged retail products
• Minimum funding and KYC thresholds for FX accounts

Frequently Asked Questions

Is MenaCorp regulated?

Yes, MenaCorp Financial Services is licensed and regulated by the Securities and Commodities Authority (SCA) of the UAE.

Does MenaCorp offer forex trading?

Yes, but only for institutional and high-net-worth clients via OTC channels. Retail forex or leveraged trading is not supported.

Which platform does MenaCorp use?

MenaCorp does not offer MetaTrader or cTrader. It provides access via direct dealing, institutional portals, and regional exchange systems.

Can retail clients trade CFDs or crypto with MenaCorp?

No, MenaCorp does not support CFD or cryptocurrency trading for any client segment.

What currencies does MenaCorp support for funding?

AED and USD are the main base currencies. Funding is processed via bank transfers only.