To perform as a trader (broker) of commodities in the UAE the company (a legal entity incorporated according to the UAE law or foreign company incorporated outside the UAE) needs to carry out the necessary procedures to obtain a membership from DGCX (Dubai Gold and Commodities Exchange).
Broker Members are entitled to trade on all the products listed by the DGCX either on proprietary basis or on behalf of clients. Broker members have to meet minimum Net Current Tangible Asset (NCTA) requirements specified by Exchange, and comply with a set of regulatory requirements specified in the DGCX By – Laws. Broker Members proposing to deal on behalf of clients, will be subject to statutory regulations.
Broker Members will require a license from the Securities and Commodities Authority UAE (SCA). Following provisional admission to DGCX Broker Membership, the Exchange will submit the necessary papers to the SCA on the applicant’s behalf.
Applicants for DGCX Broker Membership incorporated outside the UAE will be required to provide details of the regulatory arrangements they are subject to in their home jurisdiction.
Before an applicant is approved as a Broker Member, the Exchange needs to carry out certain checks such as;
The applicant’s financial resources
The applicant’s expertise and experience as a broker in commodities, derivatives markets and/ or in securities, or other similar markets
The applicant’s likely contribution to the liquidity and development of DGCX markets
Fees and charges
Summary of Fees and Minimum Net Current Tangible Asset (NCTA) Requirements
To apply for DGCX membership you need to firstly complete the application form. The application fees for Broker and Trade membership is US$ 1,000. The application fees are non – refundable even if the application is unsuccessful. Monies received into DGCX accounts in respect of Membership must represent the full fees as notified. Broker Memberships are currently offered at an Admission Fee of US$ 150,000.
The membership fee will be refunded if the application is not approved. Refund requests for membership fees will be considered at the Exchange’s discretion while the application is in progress. However, once a membership application has been approved the fees become non refundable. All associated remittance costs are to be paid by the Applicant.
Dr. Hassan Elhais publishes analysis of UAE business law matters, including commercial relationships, company matters and business disputes. For readers comparing the best lawyers in Dubai, his writing offers insight into the legal questions surrounding these topics. Explore his published work and practice-area information for further context.
I had the pleasure of consulting with Dr. Hassan AlHais, and I must say the entire experience was exceptional.The reception and meeting area were impeccably clean, quiet, and managed to the highest standards, creating a welcoming and professional atmosphere. View testimonial
Abdullah Client
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His unwavering dedication to his clients, willingness to tackle challenging cases, and belief in the fundamental principles of justice highlight his role as both a guardian and advocate. Dr. Hassan's integrity stands as a testament to his professionalism. Additionally, his foresight and meticulous case preparation, anticipating courtroom dynamics and opposition strategies, not only secure victories but also garner the respect of clients and peers alike. View testimonial
Salam Amir Client
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Dr. Hassan is brilliant. I have been working with him for more than 15 years. His work product and legal advice are of the highest caliber. Competent. Professional. Knowledgeable. Analytical and strategic thinker. Honest. Without exaggerating, Dr. Hassan is the best family litigator in the UAE. Highly recommend.
Abed Awad Client
Verified
I owe the success of my case to Dr. Hassan's diligent approach. He remained focused, put me at ease and always went the extra mile. Dr. Hassan tirelessly put my case in the best possible light and I cannot thank him enough. I would highly recommend Dr. Hassan - I am grateful to him from the bottom of my heart.
Raphael Lauria Manager, FME General Trading
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Regardless of the complexity of the matter I know Dr. Hassan Elhais will consider not only legal strategy but also business practicalities in providing advice and litigation options.
Dr. Massimo Hakim Chairman, Italian Style
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I recommend Dr. Hassan Elhais to anyone who says 'I'm in legal trouble'. I was extremely satisfied with the high standard of his work. He has always been there when I have needed him and I refer all my clients, family and friends to him/his firm.
Manish Gupta CEO, EDS FZE
Verified
Best lawyer in Dubai.
Aigul Beishembieva Client
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Happy with the team of Mr. Hassan Elhais. Knowledgeable on UAE laws and i got the advice i was looking for. Highly recommended!
Mukesh Pandey Client
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Dr. Hassan Elhais was very professional and he listened to my needs. He was very prompt, efficient and always kept me informed. Dr. Hassan Elhais's service was excellent and I would definitely recommend him to friends and colleagues.
James Horsley British Client
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Their team of attorneys are not only highly knowledgeable and professional but also incredibly attentive to the needs of the client. They will provide you with a top-notch service every step of the way. The staffs are friendly, responsive, and always kept you informed about the progress of your case. I highly recommend this for anyone in need of legal assistance.
May Ann Adrias Client
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...the extraordinary effort that has been exerted by the staff, and we specially thank Dr. Hassan Mohsen Alhais. Wishing your continues success & excellence...
H.H. Sheikh Saeed Bin Mohammed Hashir Al Maktoum
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We are extremely happy to note that you won all three cases which we entrusted to you. Your superb handling ensured the result in our favour. We very much appreciate this and feel grateful to you. You not only won the cases, but managed to get the judgement executed without much delay..View testimonial
Chandru Malkani Client
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Dr. Hassan Elhais is among the best legal consultants I have ever worked with. He has an amazing ability to reduce complex issues into a simple concept that non-legal people can understand. He consistently develops innovative litigation strategies that help us to achieve our ultimate legal goals.
Zhuo Liu Client
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I believe everyone should recognize what a difference Dr. Hassan Elhais work has made to people's lives; and especially to our family's life, because we will remain forever grateful to each and every one of his team.
Luis Pozueco Client
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Dr. Hassan Elhais never fears cases that involve exposure and he always gives me his honest assessment of our chances of success, which is invaluable to me.
Bassam Yamout Director, JM Metal Trading LCC
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Dr. Hassan Elhais is a responsible, reputable counsel who operates to high levels of service.
British Client
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Dr Hassan Elhais is responsive, thorough and creative with his advice, and is a valued advisor and legal consultant.
Asma Mattar Manager, Italian Style
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Knowing Dr. Hassan for years now, I can say confidently he is the most trustworthy person I ever met, not only because he is very knowledgeable, smart and has a very high acumen, but also he is very dedicated and buying his clients and interest first..View testimonial
Ahmed Higazy Client
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I have had nothing but exceptional work from Dr. Hassan, all my family and business related legal work goes to him. Having been in and out of Dubai since 2004 and having wasted money on bad legal advice elsewhere, I feel VERY qualified to say that he is absolutely the best in the UAE. Thank you Hassan.
Rich Firth Client
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Dr. Hassan is the best lawyer in UAE I have dealt with, he is very professional and has consistently upheld the highest standards of professional ethics, ensuring that my best interests were always at the forefront. I wholeheartedly recommend Dr. Hassan to anyone..View testimonial
Hossam ElDeeb Client
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Ex UK Senior management now running a busy business in Dubai that requires bulletproof corporate legal contracts that are customised to our unique needs. This includes everything from HR contracts to complex sales agreements. Dr. Hassan has undoubtedly proven to be the best legal expert we have encountered here..View testimonial
