XTB, the online trading platform, has extended its services to cater to passive investors in the United Arab Emirates (UAE), following successful launches in other global markets.
Their new offering, known as Investment Plans, is designed to simplify portfolio diversification using exchange-traded funds (ETFs).
Investment Plans streamline the process of accessing ETFs by offering pre-built portfolios that align with investors’ risk preferences.
These plans, which start at a modest $15, allow investors to combine up to 9 ETFs covering various asset classes and geographical regions.
The product primarily targets individuals seeking passive investment solutions without the complexities of active portfolio management.
Achraf Drid, XTB’s CEO for the Middle East and North Africa, highlighted the added convenience of the new recurring deposit feature.
Drid expressed confidence in the potential of ETFs and passive investing, emphasizing their ability to construct diversified portfolios effortlessly.
XTB initially introduced Investment Plans in Romania and subsequently launched them in Portugal, Slovakia, and Poland, gradually expanding into other European markets.
Now, the offering has been extended to retail investors in the UAE.
Aligned with XTB’s commission-free pricing model, Investment Plans do not impose commissions or account fees on investors.
These plans are accessible through XTB’s mobile apps, serving a global customer base of over 847,000 individuals seeking access to financial markets.
This addition to XTB’s offerings comes shortly after the introduction of the ability to trade fractional shares, further enhancing opportunities for local traders.
These fractional shares, initially tested in Romania in early 2023, allow investors to engage with shares at a minimum transaction value of EUR 10.
In a recent update, Finance Magnates reported that the Investment Plans in the UAE now include an “auto-investing” feature, permitting investors to set a fixed amount to fund their passive ETF-based instruments.
XTB MENA commenced operations in October 2021, initially providing FX/CFD instruments before expanding to include cryptocurrencies and, in 2023, stocks.
Coinciding with the launch of the passive trading offering in the UAE, XTB welcomed Kathleen Brooks as its Research Director.
With 15 years of industry experience, Brooks previously worked with GAIN Capital and Forex.com, bringing valuable expertise to the company.