XTB starts offering stocks in the MENA region
UAE, Dubai – 22nd May 2023
XTB, global fintech, isexpandingitsinvestmentoffer in the MENA region. Starting May 22nd, investors will have the opportunity to invest in stocks from the 15 largest stock exchanges in the world, including the NYSE, LSE, and Deutsche Boerse.
XTB has been systematically expanding its offer with new products. This is driven by the desire to offer the users of the proprietary investment platform the widest possible opportunities for capital allocation options. For several years, investments based on real stocks and ETFs have been increasingly popular. From May 22nd, investors from the MENA region will have access to these types of investments.
New investment opportunities
Until now, XTB’soffer in the MENA market was based on CFDs. The last two years of the global fintech in this market show that there is enormous investment potential in this region, thus the expansion of the product offering.
Starting from May 22nd, XTB’soffer in the MENA market will include real stocks (from the European and US stock markets) and ETFs (from the European markets). Users of the XTB platform will have the opportunity to purchase stocks and ETFs from up to 15 of the largest stock exchanges in the world, including the New York Stock Exchange, London Stock Exchange, and Deutsche Boerse.
– The development of our product offer in the MENA market is a natural step in our growth. We also provide our clients with a full investment spectrum so we are constantly working on the development from both the perspective of products but also technology- says Omar Arnaout, CEO of XTB. – I will also not hide the fact that our branch in Dubai is one of the fastest growing. This shows the enormous interest in financial markets in this region and I am pleased that local investors will gain new investment opportunities – Arnaoutadds.
Investors interested in stocks and ETFs at XTB will receive an extremely attractive offer in financial terms. The minimum transaction value starts at 10 EUR. However, what is important, the investment platform does not charge any commissions for such transactions until the monthly turnover exceeds 100 000 EUR. Above this limit, transactions in stocks and ETFs are charged a commission of 0.2% (min. 10 EUR).
Increased interest in the capital market
The addition of stocks and ETFstoXTB’s offer is the expansion of possibilities for users with different investment strategies. CFD-based instruments are characterized by high volatility and are intended for active investors, whereas stocks, and especially ETFs, are products for people leaning towards more passive investing. In some markets, e.g. in Poland, Portugal, Romania, and the Czech Republic, a significant part of XTB clients buy shares and ETF funds.
– During their cent years during the COVID-19 pandemic, the tense geopolitical situation and rampant global inflation have created many investment opportunities in the market. Bothforproponentsof is active and passive investing. I am pleased that with the expansion of XTB’s offer in the MENA region, local investors will gain new investment opportunities – says AchrafDrid, director of XTB MENA.
In the first quarter of 2023, XTB generated over EUR 64.4 mm in consolidated net profit. This is a record quarterly result in the company’s history. Furthermore, the total number of clients on the global investment platform exceeded 721,000, with an increase of over 104,000 in the first quarter of this year alone.