Interactive Brokers opened its new office in Dubai International Financial Center (DIFC). The company expects this move to enable it to open access to global markets for traders and investors in the UAE and across the Gulf Cooperation Council region.
Interactive Brokers Expands to Dubai
Interactive Brokers' decision to establish a presence in the Middle East reportedly comes amid a surging demand for financial services in the region. The DIFC office will serve a broad range of clients, including active traders, high-net-worth individuals, hedge funds, and family offices.
Investors using Interactive Brokers reportedly have access to more than 150 global markets across regions and asset classes. Whether trading in stocks, options, futures, bonds, or currencies, clients can do so from a single unified platform, the company mentioned.
Dubai International Financial Center has grown into a global financial hub for technology and innovation in the industry. Interactive Brokers mentioned that the hub is ideal for serving its local clients. The brokerage firm holds a Category 4 license from the Dubai Financial Services Authority.
Early this month, Interactive Brokers partnered with Acuity Trading to integrate the research arm of the latter into its platform. This collaboration seeks to boost the research and decision-making tools available to investors using Interactive Brokers' services.
Recent Partnerships
Interactive Brokers also partnered with Saudi Arabia'sCapital Market Authority-licensed firm SNB Capital to enable international investors to trade directly on the Saudi Exchange. The agreement allows Interactive Brokers clients to diversify their portfolios by investing in Saudi equities , global stocks, ETFs, and other securities from a single platform.
In an announcement, Interactive Brokers mentioned that its users can now buy and sell Saudi stocks, real estate investment trusts (REITs), and exchange-traded funds (ETFs) under the partnership. Saudi Arabia's stock market, often considered the gateway to the Gulf Cooperation Council (GCC), reportedly features over 415 listed securities across 22 sectors.
Meanwhile, Interactive Brokers Group released strong trading metrics in September, including a substantial boost in client engagement and financial performance. The company posted a substantial increase in Daily Average Revenue Trades and client equity.
DARTs were 2.634 million, a notable 46% increase compared to the previous year, The figure, however, dropped 3% from August. Client equity jumped to $541.5 billion, representing a 46% year-over-year growth and a 5% boost since August.
