Interactive Brokers announced on Dec 9 that it is offering access to United Arab Emirates equities on its trading platform.
Clients of the digital broker worldwide can access Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM). With this development, investors have more options for diversification across geographies and asset classes while gaining access to one of the fastest-growing regions in the world.
The ADX has more than 100 companies listed including International Holding Company, Abu Dhabi National Energy Company (TAQA) and Adnoc Gas. Meanwhile, the DFM has around 70 companies listed including Emirates NBD Bank and Dubai Electricity and Water Authority.
Interactive Brokers currently provides access to more than 160 markets and supports account funding and trading in up to 28 currencies, including AED. The brokerage, which recently opened a new office in Dubai International Financial Centre, says that its clients can deposit funds in their local currency and convert them to AED at “low FX conversion rates” to trade.
“As market participants seek to uncover new investment opportunities around the world, adding UAE equities offers both local and international investors access to the economic growth afforded by this dynamic region, alongside products from over 160 other global markets on the same platform,” says Milan Galik, CEO of Interactive Brokers.
Galik adds that providing access to the UAE market is a reflection of the company’s “strengthening foothold” in the Middle East.
The brokerage adds that current clients can begin trading UAE equities immediately through their existing accounts while prospective clients can open an account “in minutes” to begin their investment journey.
