SAXO banks marks 10th year in the Middle East

by John Carlo Bogayan

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Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, is celebrating 10 years of operations in the Middle East. Along with the celebration is the 25% annualized growth rate for assets under management and a five-fold increase in its regional client base.

Apart from its glorious growth, Saxo Bank recently relocated its offices to Boulevard Plaza, Downtown Dubai. The new office provides additional space for seminars, networking and to address the growing needs of Saxo Bank’s clients in the region.

Saxo Bank Founder and CEO, Kim Fournais, said Dubai was chosen as economically strategic location for the region is the home of fintech development and global financial market.

“Our Middle East business has grown substantially in recent years having our total number of clients multiple five times over. This is in line with the region strengthening its role in global financial markets and the increasing sophistication of our client base. We continue to invest heavily in our platforms and services to enable traders and investors to access global markets and diversify their portfolios across asset classes and geographies,” he said.

“Apart from servicing our own direct clients through our trading platforms – with access to more than 40,000 financial instrument – we are also delivering services, technology and platforms to partners such as other banks, brokers and fintechs,” he added.

Furthermore, Steve Weller, Middle East CEO, Saxo Bank, explained that expansion is undeniably happening in the region, “We are now servicing more than 30 other banks, brokers and family offices – as more industry players realize the advantages of a partner with the technology that powers a trading and investment platform and who is renowned for building global multi-asset access to exchanges and financial instruments”.

Meanwhile, Saxo Bank looks to strengthen its bond with New York’s Market Trader Academy to enhance GCC investor insights into financial assets, currencies, global equities and commodities, digital trading, and block chain insights. The courses are part of Saxo Bank’s ongoing efforts to educate regional traders and investors to ensure their financial decision-making is well informed. It aims to train between 3,000 and 5,000 students a year. 

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