IG Group expands into Middle East, opens office in Dubai

Leading online trading services provider IG Group Holdings plc (LON:IGG) today announced the launch of its office in Dubai, a move that marks the firm’s entry into the Middle East.

After obtaining the necessary regulatory approval from Dubai Financial Services Authority (DFSA), IG will provide retail investors in the region access to more than 10,000 financial markets 24 hours a day.

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.”

al-fattan-currency-house-1932_xlThe IG office is located at Al Fattan Currency House (see pic) – in the heart of Dubai’s financial district. The office will be functioning six days a week and will offer a variety of seminars and education tools to clients and members of the UAE public. Experienced customer support will be available 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 notes that its geographical footprint continues to be an important part of its growth strategy and a key differentiator. The opening of IG’s Dubai office follows the opening of IG’s office in Switzerland in October 2014.

To coincide with the opening of its Dubai office, IG commissioned research to evaluate the level of awareness to investing among UAE residents. The results showed significant opportunities for the business.

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, almost two thirds (64%) of those surveyed said they were interested in learning more about how to trade the financial markets.

To view the official announcement by IG Group, click here.

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