Scope Markets launches innovative UAE stock index CFD products
Scope Markets launches innovative UAE stock index CFD products
Brokerage company Scope Markets has introduced two new CFD products, allowing traders to access the stock indices DXBI (Dubai) and AD15 (Abu Dhabi) for the first time.
The launch is aimed at providing global investors with easy access to the rapidly growing economies of the Gulf Cooperation Council (GCC). The introduction of these instruments is timely, as recent market performance highlights the attractiveness of these new offerings, according to LiquidityFinder. Between June and August 2024, the AD15 benchmark index rose by 10%, while the DXBI index climbed by more than 15%, indicating strong growth in UAE markets, further enhancing their appeal to international investors.
“We are genuinely excited to offer clients the ability to access the Dubai and Abu Dhabi stock indices via CFDs. It’s no secret that GCC economies are growing rapidly, in part due to more companies listing on regional markets. We know that investors worldwide want a simple way to add UAE stocks to their portfolios – these new products make that possible,” said Pavel Spirin, CEO of Scope Markets.
“We developed these proprietary instruments as a true differentiator for us as a brokerage. There is clear demand for investments in both Dubai and Abu Dhabi, and we will use feedback on these products to further refine our offering and explore expanding into other GCC exchanges,” emphasized Mitesh Vaghela, Chief Business Officer at Scope Markets.
Research from the Dubai Financial Market (DFM) has shown that foreign investors accounted for 47% of all trading activity in 2023 on UAE markets, with 73% of new investors coming from abroad. This highlights the global demand for access to GCC markets, particularly in Dubai and Abu Dhabi, where economic growth continues to outperform expectations.
The new UAE index CFDs will be available for both long and short positions, with leverage up to 1:20. These instruments complement over 80 individual stock CFDs listed in Abu Dhabi and Dubai that Scope Markets added to its trading platform last year.
Scope Markets will showcase these innovative products at the upcoming Forex Expo Dubai, set to take place on October 7 and 8 at the World Trade Centre. The launch of AD15 and DXBI marks a significant step in making Gulf markets more accessible to global investors, highlighting the growing importance of Middle Eastern financial markets in the global investment landscape.
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