Robinhood applies for Dubai DFSA License

Robinhood is applying for a Category 4 license from the Dubai Financial Services Authority (DFSA), to serve clients in the UAU and MENA (Middle East and North Africa) region.

The Category 4 license focuses on advisory services without holding client money. Category 1 relates to commercial or retail banks.

Dubai is in the Gulf time zone which is three hours ahead of London.