GCC countries in general, and the UAE more specifically, are emerging as significant global financial hubs
Ritu Singh, regional director of StoneX
The Middle East’s online trading industry is growing at spectacular rates, with commonly traded assets including stocks, commodities, currencies, and cryptocurrencies. It is expected to reach $1 trillion in value by 2025 according to the Dubai Financial Services Authority (DFSA).
Among the many factors fueling this growth, experts say that wider internet access, increased smartphone adoption, improved regulations, rising awareness of trading benefits - such as convenience, accessibility, cost-effectiveness, asset diversity, and transparency - are all driving the popularity of online trading in the Middle East.
In this line, GCC countries in general, and the UAE more specifically, are emerging as significant global financial hubs due to their strategic location, growing economies, political stability, favorable tax regimes, efficient infrastructure, and clear globally compatible regulatory frameworks. This is creating a real financial powerhouse in the region revolving around a robust network of prominent financial centers, including: Abu Dhabi Global Market (ADGM), Dubai International Financial Center (DIFC), Dubai Multi Commodity Center (DMCC), Bahrain Financial Harbour, Bahrain International Investment Park, Qatar Financial Centre (QFC), Kuwait Financial Centre (KFH), Oman International Centre for Financial Services (OIFC), and Saudi Arabia Global Centre for Financial Services (SACF).
However, despite its many benefits, online trading is not without risks, and traders are highly encouraged to trade responsibly by educating themselves on markets, trading tools, and trends while partnering with well-reputed brokers who can help them understand and alleviate risks.
As a licensed global broker with a solid track record and an innovative portfolio of trading solutions, StoneX Group Inc. - a Fortune 500 company providing global customers execution, clearing and advisory services in commodities, capital markets and more - has so far succeeded in gaining the trust of hundreds of thousands of traders in the region, especially that it is backed by local offices in the UAE – FOREX.com - which suggests knowledge of market-specific regulations and presence of local customer service.
Striving to claim a bigger market share in the region, StoneX Group Inc. will partake in the highly anticipated Forex Expo Dubai 2023 on the 26th and 27th of September at the World Trade Center, Dubai through its subsidiary FOREX.com, the event’s diamond sponsor.
This year on its sixth grand edition, Forex Expo Dubai by HQMENA is considered the largest trading event in the region, with over 130 companies, 12,000 visitors, and 130 local, regional, and international speakers who will showcase cutting-edge trading technologies and discuss the latest industry trends.