IG Group has announced the launch of its UAE office in Dubai, marking the firm’s entry into the Middle East. Following successful regulatory approval from Dubai Financial Services Authority (DFSA), IG will offer retail investors in the region access to over 10,000 financial markets with the capability to trade 24 hours a day.
To coincide with the launch of its Dubai office, IG commissioned research to assess the level of awareness to investing among UAE residents, which revealed the opportunities for the business are significant. According to a You Gov survey of 1,000 residents, more than half (52%) of respondents make investment decisions themselves and just over a third (36%) said they currently have an investment portfolio. While, nearly two thirds (64%) of those surveyed said they were interested in learning more about how to trade the financial markets.
Commenting on the opening of IG’s Dubai office, Peter Hetherington, Interim CEO of IG Group, said: “We are delighted to open our first office in Dubai serving experienced investors in the UAE and the wider Middle East region.
“Dubai is a thriving hub for commerce and trade and given its geographic location and local investors are in the perfect position to access a variety of markets in real time using our tried and tested online platform. This year marks the 41st anniversary of IG and it is fitting that we are building our customer base in this growing and dynamic market.”
The IG office at Al Fattan Currency House is purposely located in the heart of Dubai’s financial district. The office will be open six days a week and will provide a range of seminars and education tools to clients and members of the UAE public. Experienced customer support will be on hand 24 hours a day.
Kypros Zoumidou Senior Executive Officer, IG UAE and head of the Dubai Office said: “We have established a great team here in Dubai. Quality of service and product innovation are the two pillars that have shaped IG’s success over the last 40 years and we know this is very important to clients in the UAE. Our research has shown that investors here are financially astute and have a desire to learn more about trading. Our office in Dubai will provide the best-in-class platform and assistance to those investors who want to learn and develop their trading skills.”
IG’s geographical footprint continues to be a strategically important part of its growth strategy and a key differentiator. The announcement follows the opening of IG’s office in Switzerland in October 2014.