Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has released new business data to mark International Women’s Day on Sunday March 8, outlining a major upswing in the number of females trading on its platforms in the UAE and wider MENA region over the past decade, with the findings equating to an increase of 65 per cent year-on-year between 2010 and 2020.
The firm’s findings also highlight that the ratio of female to male traders in the region has grown to 11 per cent over the past decade and show a region-wide decrease in the average age of female traders from 50 to 40-years-old.
Steve Weller, CEO Saxo Bank MENA Region, said: “As a fintech specialist we have always strived towards a democratised trading and investment landscape, and these findings highlight our strategy is working in terms of increased participation by female traders in the UAE and wider MENA region.”
International Women’s Day is celebrated on March 8 annually, to recognize the social, economic, cultural and political achievements of women while also marking a call to action for equality.
The theme for 2020 is #Each for Equal, highlighting the importance of gender equality for economies and communities to thrive. The UAE is committed to gender equality and leads the way in the region through legislation and policy which ensures that Emirati women play a leading role in the development of the UAE. The country has nine female ministers within the UAE cabinet and in 2018, the UAE cabinet approved a Law on Equal Wages and Salaries for Men and Women, a regional first piece of legislation.
“We are happy to see that more women in the region are becoming increasingly confident to take control of their financial future. At Saxo, we have been removing barriers for more than 25 years and it is a key mission for us,” added Weller.
“The initiatives of the UAE to encourage and empower women is clearly reflected in the positive trend we see among our clients. Coupled with our easy-to-use trading platforms and access to global markets, we expect this trend to continue and accelerate in the coming years.”
The findings suggest that Saxo Bank’s democratisation of trading via unique offerings and services are proving attractive to women seeking control of their financial futures. Services such as SaxoSelect offer a fully digital and automated trading and investment service which enables Saxo Bank clients to invest in pre-selected portfolios including BlackRock, Morningstar and Nasdaq portfolios.
Weller added: “SaxoSelect gives clients full visibility over their portfolios, offering a real time, fully transparent investment environment directly on their own platform. Many investors either don’t have the time or skills to pick out stocks themselves, and the digitally managed portfolios offer good opportunities to get low-cost exposure to the markets without having to build and maintain a portfolio of stocks and bonds.”
About Saxo Bank
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.
For more than 25 years, Saxo’s mission has been to democratise investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo Bank today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.