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Nasdaq listed electronic broker Interactive Brokers has announced the opening of a new office in Dubai International Financial Centre (DIFC). This move marks the company's entry into the Middle East market, expanding its global footprint and aligning with its strategy to provide cost-effective brokerage services for global market access.
The new DIFC office is set to cater to a diverse clientele, including active traders, high-net-worth individuals, and various wealth management institutions such as local banks, hedge funds, and family offices in the region. These clients will have access to Interactive Brokers' trading technology, tools, competitive pricing, and a wide array of investment products.
Milan Galik, Chief Executive Officer of Interactive Brokers, commented, "Opening an office in DIFC underscores our commitment to focusing on clients in this important region and connecting investors worldwide to global markets."
The company's decision to establish a presence in Dubai comes at a time when the financial services industry in the UAE and the broader Gulf Cooperation Council (GCC) region is experiencing growth, with an increasing number of individuals showing interest in active participation in financial markets.
Interactive Brokers, which currently serves over three million clients across more than 200 countries and territories, offers trading capabilities on 150 markets. Clients can invest in a range of financial instruments, including stocks, options, futures, currencies, bonds, and funds, all from a single unified platform. The company also provides the flexibility to fund and trade accounts in up to 27 currencies, facilitating portfolio diversification across different regions and markets.
For financial advisors, the company offers a turnkey wealth-management solution designed to help professionals manage their businesses efficiently and serve clients at a low cost. Family offices can benefit from access to global markets, advanced trading platforms, and cash management tools. Additionally, Interactive Brokers provides comprehensive prime brokerage services for introducing brokers and hedge funds.
Galik further added: "DIFC is quickly becoming a global financial hub known for embracing technology, and we are pleased to solidify our presence in the market and serve local investors."
The DIFC office has been established as a branch with a Category 4 licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services in DIFC. The office will arrange access to brokerage and associated services delivered by or through Interactive Brokers in the UK for clients in and from DIFC.
