Scope Markets to showcase new UAE stock index for global traders at Forex Expo Dubai
Limassol – Scope Markets, a brand used by a group of globally regulated brokers, today announced the launch of two new CFD products for index trading in both Dubai and Abu Dhabi. In what is believed to be an industry first, Scope Markets’ clients will be able to buy unique products – Abu Dhabi’s AD15 and Dubai’s DXBI – through a single transaction, at prices that reflect movements in their respective underlying regional stock markets. You can now access it. anywhere in the world.
Pavel Spirin, CEO of Scope Markets, commented:
“We are really excited to be able to offer our clients the ability to access both the Dubai and Abu Dhabi stock indices through CFDs. It’s no secret that investors around the world want an easy way to add UAE exposure to their portfolios, driven in part by the rise in companies going public. These new products make that reality possible.”
While many other global stock markets struggled during the summer, the Dow 30 rose about 5% from early June to the end of August, with the FTSE-100 little changed, while Abu Dhabi’s benchmark index rose 10%, while the same index in Dubai rose 10%. Its value has increased by more than 15%. The price movement here, combined with frequent oversubscription of new share offers in the region (Perkin IPO in March 2024 was oversubscribed by 165 times), reflects demand for quality investments in the region. This highlights how supply continues to outstrip supply. under
Mitesh Vaghela, Chief Business Officer, Scope Markets, added:
“At Scope Markets, we have developed these unique products as we believe they will be a real market differentiator for us as a brokerage firm. We know there is demand for investment in both Dubai and Abu Dhabi; We will use the feedback from these products to consider ways to further improve our offering and also consider expanding our product suite to access other exchanges across the GCC.”
Foreign investors accounted for 47% of trading activity in 2023, and 73% of new investors were from abroad, according to growth data from exchange operator Dubai Financial Market (DFM).
The new equity index product will enable Scope Markets customers to trade on both a long and short basis, offering leverage of up to 1:20. These products complement the addition of over 80 Abu Dhabi and Dubai listed single stock CFDs added to the broker’s tradable world over the past 12 months.
Scope Markets will be showcasing these new products at Forex Expo Dubai on October 7th and 8th at the World Trade Center. To find out more about UAE Index CFDs, the broker’s wide range of other products and its market-leading partnership model, visit www.scopemarkets.com or visit Stand 15 at the Expo.
About Scope Market
Scope Markets is a brand used by a diversified financial services group that provides online trading capabilities and institutional brokerage solutions to customers around the world. Providing access to multiple asset classes and product types across both mobile and desktop platforms, Scope Markets is your trusted partner for customer-centric solutions from a single venue. The Group is regulated in six different jurisdictions and supports customers worldwide.
Media contact:
neha anwar
action uae
neha.a@actionprgroup.com