Is trading money on behalf of somebody legal in the UAE?

Hello,

Individuals or entities offering trading services or managing investments on behalf of others typically need to be licensed by the relevant authority, such as the UAE Securities and Commodities Authority (SCA).

If your friend is not licensed, her actions may violate these regulations. Without a formal agreement, it becomes challenging to enforce any claims or recover your money.

Verbal agreements can be difficult to prove in legal settings, especially regarding investment returns.

For further assistance kindly share your Whatsapp number.

If you lend her money for the purpose of trading and she deceives you, this is fraud.

So contact us on phone number so we can find out more details and help you.

Greetings.

There are no legal risks if they borrowed money from you for the purpose of investing it and returning the original money with profits.

You have nothing to do with what they invest that money in, but most of them invest their money in fake trading sites and lose all the money.

For guarantee, you must take from him a written acknowledgment or a trust receipt to guarantee your rights.

We are honored to provide you with legal support. For further inquiries about your topic, you can come to our office or contact us on WhatsApp.

In the UAE, the Securities and Commodities Authority (SCA) regulates the securities and commodities markets.

Any individual or entity engaging in investment activities, including trading, must be licensed or authorized by the SCA.

If your friend was engaging in trading activities without a license from the SCA, it would be considered illegal. This could potentially result in fines, penalties, or even criminal charges.

Promises of high returns without a clear explanation of the risks involved could be considered fraudulent. If your friend made such promises with the intention of deceiving you, it could constitute a criminal offense.

If you need further clarification we will discuss more. Kindly share your WhatsApp number to discuss this further.

For any trade or money matters, written agreements are very important.

Dear Inquirer

We are pleased to serve you and address your inquiries.

It is prohibited to practice any activity within the country without obtaining a license.

If anything else is required, don’t hesitate to contact us via email or call our offices in Dubai or Sharjah.

Jasim Al Haddad Advocates & Legal Consultants

Dear questioner

Offering trading services without a proper license from the Securities and Commodities Authority (SCA) is a violation of UAE law.

This is a serious offense that can result in fines and other penalties.

If you need further clarification, kindly share your Whatsapp number.