FP Trading has activated its UAE Category 5 license to market contracts for differences (CFD) products. The broker is onboarding traders from the Middle Eastern country under its offshore St. Vincent & Grenadines entity.According to the registry maintained by the UAE regulator, the Capital Markets Authority (CMA), FP Trading received the local license earlier this year.The Rush for Cat 5 UAE LicenseThe Cat 5 license only allows promoting and marketing CFDs in the country, but onboarding must be done through an offshore entity. This license, due to its low entry barrier, has become very popular among CFD brokers, as many big and small brands have set up shop in the country and secured it.Only a handful, meanwhile, like Plus500, RoboMarkets, XTB, and Deriv, have gone all in to gain a Cat 1 license, which allows them to onboard and hold deposits locally.For context, the capital requirement for a Cat 5 license is only around AED 500,000, while for a Cat 1 license, it is at least AED 30 million.Read more: CFD Brokers Flock to Dubai, but Few Go All In[#highlighted-links#]FP Trading also told Finance Magnates that its UAE business is headed by Managing Director Narayan Joshi, who has already set up a team of 10 staff members.The broker also holds regulatory licenses in Mauritius, South Africa, and is registered in Saint Lucia Meanwhile, FP Markets also appears to be focusing on product offering. Earlier this year, it teamed up with Acuity Trading to provide its clients with AI-driven trading signals and market research tools. The collaboration resulted in the introduction of FP Markets Intelligence, a multi-tool suite accessible through the broker's Client Portal that the company says covers sentiment analysis, market signals, and real-time news data across a broad range of instruments.This article was written by Arnab Shome at www.financemagnates.com.