Following a successful start in other parts of the world, the online trading platform XTB has launched a new service targeting passive investors in the United Arab Emirates. The product, called Investment Plans, allows investors to build diversified portfolios easily comprised of exchange-traded funds (ETFs).
XTB Launches New Investment Product in UAE
Investment Plans make accessing ETFs more convenient by providing premade portfolios that investors can invest in, with allocations automatically handled based on risk preferences. The plans start at just $15 and allow combining up to 9 ETFs covering various assets and geographies.
The product is tailored toward investors seeking passive investment options without intensive portfolio management. Achraf Drid, the CEO of XTB for the Middle East and North Africa, said the new recurring deposit feature enhances convenience further.
“We see a great potential in ETFs and passive investing as this is a powerful investment option to build a diversified portfolio without the need to hand-pick the instruments one-by-one,” Drid added.
XTB firstly introduced this new product at the end of September, following successful tests in the Romanian market. It was then launched in Portugal, Slovakia, and Poland, gradually reaching other European markets. Now, the offer has expanded to include products for retail investors in the UAE.
In line with XTB's commission-free pricing model, the new Investment Plans do not charge commissions or account fees. The plans are available via XTB's mobile apps. Currently, the Poland-founded XTB supports over 847,000 customers globally in accessing financial markets.
XTB Expands in the UAE
This is another addition for local traders after gaining the opportunity to trade in fractional shares less than a month ago. The minimum transaction value is EUR 10. Similar to passive investment plans, fractional shares were first tested in Romania where they were introduced at the beginning of last year.
Finance Magnates reported last week that the Investment Plans, which have just debuted in the UAE, have received a new feature. This refers to the option of "auto-investing", which allows for setting a fixed amount to fund the ETF-based passive instruments.
XTB MENA commenced its operations in October 2021, initially providing basic FX/CFD instruments, then expanding to cryptocurrencies , and in 2023, to stocks as well.
The launch of the passive trading offering today (Monday) coincided with the news that XTB has hired Kathleen Brooks as the Research Director. She brings 15 years of industry experience, having previously worked with GAIN Capital and Forex.com.
