Interactive Brokers has announced the launch of its new office in the Dubai International Financial Centre (DIFC) to help traders and investors in the UAE and the wider GCC region access global markets.
Expansion into Dubai
This is in response to the ever-increasing need for financial services within the Middle East region. The new DIFC office will cater to a broad range of clients with active traders, high-net-worth individuals, hedge funds, and family offices.
With Interactive Brokers, clients can trade in over 150 marketplaces and invest in multiple types of products including stock, options, futures, bonds, and currencies. The firm is duly licensed by the Dubai Financial Services Authority with a Category 4 license, enabling it to conduct its business in this strategic and forward-looking financial center.
This month, Interactive Brokers signed an agreement with Acuity Trading to offer Acuity’s tools on its platform to help investors make better decisions.
New Partnerships
Interactive Brokers has also a partnership with SNB Capital which is recognized by the Capital Market Authority of Saudi Arabia. This partnership allows international investors to trade directly on the Saudi Exchange, giving the client access to Saudi stocks, REITs, and ETFs through Interactive Brokers. This is important because the Saudi stock exchange is considered a way to access the entire GCC with 415 securities listed across 22 industries.
Strong Performance
Interactive Brokers announced better trading numbers in September, including higher client activity and better profitability. The exchange saw 2.634 million DARTs in the month, a 46% increase over the same month last year, although there was a 3% decline from August. The client equity stood at $541.5 billion, a 46% jump from the previous year and a 5% rise from August.