HSBC has announced the launch of WorldTrader in the UAE, a digital trading platform providing customers access to a wide range of international investments.
The UAE is the first market in the HSBC global network to launch WorldTrader, with select markets in Asia and the Middle East set to follow, the bank said iin a statement.
WorldTrader will give HSBC Wealth and Personal Banking (WPB) customers access to up to 80 per cent of global stock market capitalisation to trade equities, exchange-traded funds (ETFs) and bonds, and to invest in mutual funds and fixed-income products, using either HSBC’s mobile app or online banking, the statement said.
Mohamed Al Marzooqi, chief executive officer, UAE, HSBC Bank Middle East, said the wealth trading platform empowers customers by providing seamless access to trade equities, ETFs, and bonds across international capital markets, ensuring they have the tools they need to build and manage a truly global wealth portfolio. “The
UAE holds significant strategic importance for HSBC, and WorldTrader is one of many ways we are investing in our digital wealth capabilities better to serve the sophisticated needs of our international-minded affluent clients.”
“HSBC’s Affluent Investor Snapshot 2024, a global survey polling investor behaviours and
priorities across 11 international investment markets, reveals that more than half (55 per cent) of the survey’s respondents in the UAE plan to increase their overseas investments. WorldTrader’s extensive network covering up to 77 exchanges across 25 markets directly addresses the growing customer demand for international investments,” said Al Marzooqi.
Dinesh Sharma, regional head of WPB, EMEA, HSBC, said the UAE is one of the top five wealth and personal banking markets for HSBC globally and launching WorldTrader here first further reinforces the importance of the UAE to the growth of our international wealth franchise.
“We are digitising at scale to provide best-in-class wealth management solutions for our customers, that help them achieve their investment goals. Simplicity, sophistication in user experience, access to global exchanges, and security were all top priorities for our customers in choosing an investment platform, and WorldTrader is built to meet those requirements. We see strong demand for international wealth management services in the UAE, and the increasing digital proficiency of customers here makes it the perfect launchpad for WorldTrader,” said Sharma.
HSBC WorldTrader is entirely digital and powered by Interactive Brokers, a company known for pioneering electronic trading and serving 2.5 million active clients worldwide. Interactive Brokers provides automated trade execution and custody of securities, commodities, and foreign exchange around the clock, from a single unified platform to investors worldwide.
Customers can open an investment account through the app, without going to a branch and access their HSBC funds to start trading on the WorldTrader platform on mobile or desktop, said Sharma. “The safe, secure, and simple-to-use platform allows new and established investors to manage their investments in real-time across multiple markets. It also offers free up-to-date market data, news, and expert analysis.”
HSBC’s Affluent Investor Snapshot 2024, a global survey polling investor behaviours and priorities across 11 international investment markets, reveals that more than half (55 per cent) of the survey’s respondents in the UAE plan to increase their overseas investments. WorldTrader’s extensive network covering up to 77 exchanges across 25 markets directly addresses the growing customer demand for international investments.