Interactive Brokers has officially opened a new office in the Dubai International Financial Center (DIFC), aiming to tap into the region’s growing financial market. The company, which holds a Category 4 license from the Dubai Financial Services Authority, expects this expansion to provide traders and investors across the UAE and the broader Gulf Cooperation Council (GCC) region with greater access to global markets.
Expansion into Dubai
Interactive Brokers’ move into the Middle East comes amid a rising demand for financial services in the region. The new DIFC office will cater to a wide range of clients, including active traders, high net worth individuals, hedge funds, and family offices.
The brokerage firm offers its clients access to over 150 global markets across a variety of asset classes, including stocks, options, futures, bonds, and currencies all from a single, unified platform.
Why Dubai?
Dubai International Financial Center has become a global hub for financial innovation and technology, making it an ideal location for Interactive Brokers to serve its local and regional clients. With its new office in the DIFC, the company is positioning itself to better meet the needs of Middle Eastern investors.
Strategic Partnerships
Earlier this month, Interactive Brokers partnered with Acuity Trading to integrate enhanced research tools into its platform, giving investors access to a wealth of information for better decision making.
In addition to this, Interactive Brokers has also teamed up with SNB Capital, a Capital Market Authority licensed firm in Saudi Arabia, to allow international investors to trade directly on the Saudi Exchange. Under this agreement, clients of Interactive Brokers can diversify their portfolios by trading Saudi equities, real estate investment trusts (REITs), exchange traded funds (ETFs), and global stocks all from a single platform.
The Saudi market, considered the gateway to the GCC, features over 415 listed securities across 22 sectors, offering clients a broad range of investment opportunities.
Strong Performance Metrics
In September, Interactive Brokers reported strong trading metrics, highlighting increased client activity and improved financial performance. The company saw Daily Average Revenue Trades (DARTs) rise to 2.634 million a 46% increase compared to the previous year, although this was a 3% drop from August figures. Client equity also grew to $541.5 billion, marking a 46% year over year increase and a 5% rise since August.
