More than half of UAE residents make their own investment decisions, reports IG

Business

More than half of UAE residents make their own investment decisions, reports IG

According to IG, the worlds leading online trading company, more than half of residents in the UAE (52%) make their own investment decisions, with the vast majority using internet (67%) and newspapers (37%) as the top sources for receiving investment information.

A further 32% make investment decisions based on collaborative approach with family, friends and colleagues, and only 16% seek advice from professional financial advisors.

The new research from IG, which comprises of feedback from over 1,000 UAE residents, was aimed at assessing the financial literacy and understanding of investments of residents across the region. According to the study, Arab expats, in particular, feel more confident about making investment decisions themselves (67%), followed by Asian expats (48%), Western expats (45%) and Emiratis (44%).

The study also revealed that nearly two-thirds (64%) said they would be interested in learning more on how they could potentially boost their investment portfolio by trading the financial markets.

The research follows the official opening of IGs UAE office in Dubais DIFC, marking the firms entry into the Middle East, following successful regulatory approval from Dubai Financial Services Authority (DFSA) in June 2015. IG offers investors in the UAE access to over 10,000 markets providing a unique set of derivatives trading services, including trading contracts for difference (CFDs) and foreign exchange.

Commenting on the findings, Kypros Zoumidou, Senior Executive Officer, IG UAE, and Head of the Dubai Office, said: This research is a clear indication that residents in the UAE are keen to learn more about investing in the financial markets. The variety and choice of market on offer can be overwhelming, so we have created the best support package for our growing client base in the region. This includes 24/7 support on the phone and regular education seminars held at our office in DIFC. I would encourage anyone who is considering investing in the financial markets to do as much research and training as possible before they get started.

IG Limited (Dubai Office) is part of IG Group Holdings Plc, a member of the UKs FTSE 250 with a market cap of $3.96 billion. IG has offices in 17 countries and over 136,100 active clients worldwide, and a net annual trading revenue of $666.53 million. IG is the leading provider of CFDs* in the world.