August 2012

August 2012

Forex Industry in the Middle East Continues to Grow

The Forex trading sector in the Gulf Region will carry on in its meteoric rise. It’s expected to grow exponentially, doubling year on year as stated by Iskandar Najjar, CEO of Alpair ME DMCC (Alpari), at a recent Forex conference in Jeddah Saudi Arabia. Alpari ME DMCC has seen an escalating demand from retail traders across the Middle East. The UAE, KSA and Qatar, most especially have demonstrated eagerness for currency trading opportunities, therefore emulating a larger trend not only in the Gulf region but across the world. Around the world, the Forex industry has witnessed daily trading volumes shoot up from $3 trillion during 2007 to $5 trillion during 2012. Among the various capital markets, the spots and futures have seen the best performance with an increase of over 10% over the same time period. Alpari has been one of the top brokers that catered to the trading needs of region…

UAE to Become a Forex Trading Hub in the GCC Region

The UAE is undoubtedly regarded as a commercial hub in the Gulf Region and not, it also set to emerge as a foreign exchange trading hub in the region, said a senior official of ADS Securities, the Abu Dhabi based Forex and commodities and trading platform. Claus Nouveau-Nikolajsen, ADS Securities, Head of Sales, GCC & MENA, states: “The UAE has been at the forefront of financial industry development in the GCC and offers the most conducive environment for the growth of the forex marketplace and infrastructure. Trading of both major and emerging market currencies in the UAE is on the rise, and with international trade growing rapidly, the need for currency management will only increase.  The expected upgrade of the UAE to emerging market status by index provider MSCI will have a significant impact on investment flows into the country, which in turn will also boost the country’s fore…