The online brokerage company «Metrid» has obtained a license from the Securities and Commodities Authority to offer its services in the region amidst oil price fluctuations due to tensions surrounding the Strait of Hormuz blockade.Global oil markets are experiencing significant turmoil, with shipping through the Strait of Hormuz down by 90% since late February, according to the International Energy Agency. Amidst increasing energy market volatility, the online brokerage company Metrid has secured a license from the UAE's Financial Markets Authority to provide regulated CFD trading services in the region. Thanks to the Securities and Commodities Authority license, which is Metrid's sixth license worldwide, the company now offers access to CFDs on foreign currencies, commodities, indices, stocks, and exchange-traded funds within a regulatory framework. Kevin Lai, Vice President of Metrid Group, stated: «CFDs allow traders to respond to market fluctuations without owning the underlying asset, and this flexibility is of utmost importance in such fast-moving markets». He added that Metrid was designed to provide speed, reliability, and the ability to trade from anywhere, which is precisely what volatile markets require».
