MKX

About MKX: legal entity, VARA licence and leadership

The legal entity behind MKX is MKX Virtual Assets Broker & Dealer Services L.L.C., a Dubai crypto broker-dealer licensed by VARA for Broker-Dealer Services (reference VL/25/04/001, issued 18 April 2025) that converts AED to virtual assets and back for retail, qualified and institutional clients.

Risk warning Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. The owner and/or investor in the Virtual Asset can lose all the money or other value they invest, and does not benefit from any form of financial protection.

Check MKX on the VARA public register

What MKX does and does not do

MKX is a crypto broker-dealer. It converts dirhams to virtual assets and back at a price it quotes, for clients who fund an account by AED bank transfer from a UAE bank account. Its terms name four services: a hosted digital wallet (the "Digital Asset Wallet"), a Client Money Account for dirhams, buying and selling of virtual assets, and OTC trading through an OTC desk.

The product pages cover buying USDT with AED and selling USDT for AED step by step, and the home page gives an overview of what MKX offers.

MKX does not run an order book: you trade with MKX, not with other clients. It offers no derivatives, no earn product and no lending.

The Fee Schedule lists ten assets: BTC, ETH, XRP, SOL, BNB, USDT, USDC, TRX, POL and ARB. The terms list seven of them.

How MKX makes money

MKX charges 1.5% of each transaction, whether you move from AED to crypto, from crypto to AED or between two assets. It also charges a fee on AED bank withdrawals and a flat fee per asset on external crypto withdrawals. AED bank deposits and crypto deposits carry no MKX fee.

MKX quotes the price of each trade and does not publish its spread. Every fee and minimum is in the published fee schedule.

MKX in short

MKX terms and Fee Schedule

Model
Broker-dealer: you trade with MKX at a quoted price
Clients
Retail, qualified and institutional investors
Funding
AED bank transfer from a UAE bank account
Trading fee
1.5% per transaction
Order book
None
Derivatives, earn, lending
None

Who runs MKX: leadership and responsible individuals

MKX names one person on its site. The Transparency page reads: "Responsible Individuals: Arjun Khazanchi – CEO". It gives no biography, credentials or photograph, and this page adds none.

  • Chief Executive Officer

    Arjun Khazanchi, as named on the MKX Transparency page, read on .

  • Compliance Officer

    The contact for MKX's whistleblowing channel. No name is published.

  • Data Protection Officer

    The privacy policy has a section for this role. No name is published.

  • Board of Directors and senior leadership

    Referred to in the disclosure quoted below. The members are not listed.

The Transparency page carries one dated disclosure: "As of 1st Jan, 2026, no member of our Senior Leadership or Board of Directors has been involved in any criminal convictions or legal prosecutions".

Who owns MKX? Its shareholders and any parent company are not published on mkx.ae, and the VARA register entry does not list them.

What is not published

mkx.ae lists no team. Names, credentials and profile links for the roles in this list are not public, so none is shown.

How client assets and money are held

  • Wallet custody

    The terms name the "Wallet Custody Services Provider: Fireblocks".

  • Client money

    Dirhams are held "in a designated safekeeping account with a regulated financial institution licensed in the UAE". The terms do not name the institution.

  • Deposit protection

    None. "Clients' Virtual Assets and Fiat Assets are not covered by any deposit protection mechanism from MKX."

  • Liquidity

    "MKX partners with Binance as its primary external liquidity provider".

The security and custody page gives each of these with its source and the date it was read, and lists what MKX has not published.

A licence is not a protection scheme

The VARA disclaimer says the owner or investor "does not benefit from any form of financial protection". That covers dirhams held with MKX as well as crypto.

Governance and market conduct

MKX's broker-dealer disclosures describe a Best Execution Policy with four factors: price, speed, likelihood of execution and cost. They also describe controls against insider trading and market manipulation, trade surveillance and a whistleblowing channel.

The VA Standards policy cites "VARA Market Conduct Rulebook - Rule VIII" and states that assessment records are kept for "a minimum of eight years".

The terms are governed by the laws of the UAE, and the courts of Dubai have exclusive jurisdiction. The risks of holding and trading virtual assets are listed in the risk disclosure statement.

Governance on record

Read

Best Execution Policy
Price, speed, likelihood of execution, cost
Conduct controls
Insider trading, market manipulation, surveillance, whistleblowing
Rulebook cited
VARA Market Conduct Rulebook, Rule VIII
Assessment records
A minimum of eight years
Governing law
UAE; courts of Dubai

Where to verify MKX independently

Each link opens a source outside this site.

No award, press coverage, audit report or certificate is listed here, because none is published on mkx.ae.

No ratings quoted

This page quotes no app ratings, download counts or user numbers.

How MKX writes and reviews its guides

Guides on MKX Learn are drafted by the MKX Research Team and reviewed by the Head of Compliance before they go out. Where AI helps with a draft, a named person fact-checks and approves the text.

MKX earns a fee on trades, so each guide discloses that interest and carries the VARA risk disclaimers. The full process is in the editorial and AI-use policy.

Contact and complaints

MKX acknowledges a complaint in writing within one week, replies in writing within four weeks and, in extraordinary cases, resolves it within eight weeks. It charges no fee for handling a complaint.

The steps, the appeal and the record-keeping period are in the complaints handling policy. Every support channel is on the page where you can contact MKX in Dubai.

Contact record

Email
[email protected]
Phone
+971 50 757 8525
Office
Office No 4001, Concorde Tower 1, Al Thanyah Fifth, Dubai, UAE

Timeline

Only dated facts from the register and from mkx.ae appear here.

Founding date
Not published
VARA issues the VASP Licence for Broker-Dealer Services, reference VL/25/04/001
Date of the leadership disclosure on the Transparency page
Register entry checked for this page: status Active

Check the entity before you send money

The register entry shows the legal name, the reference VL/25/04/001, the status and the address. A licence does not remove risk: virtual assets are volatile and you can lose all the money you invest.

Check MKX on the VARA public register