Dubai Financial Market (DFM) has accredited five brokerage firms to provide margin trading, lifting the total number of firms providing this service to 24.

The firms include Al Safwa Islamic Financial Services, Global for Shares & Bonds, Al Fardan Financial Services, Al Brooge Securities and Al-Sharhan Stock Center.

Margin Trading permits brokerage companies to fund a percentage of the market value of securities traded, and secure as collateral for the same securities or any other collateral as required by the Securities and Commodities Authority’s (SCA) license.

DFM is currently processing similar applications from other brokerage firms in collaboration with the SCA. - TradeArabia News Service