Saxo Bank 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. The findings equate to an increase of 65 percent 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 percent over the past decade and shows 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 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.”