HSBC chooses UAE to debut its global trading platform

Image credit: WAM

HSBC has selected the UAE as the inaugural market for its new digital trading platform, WorldTrader. 

This platform provides HSBC Wealth and Personal Banking (WPB) customers with access to a vast range of investment options, covering up to 80 per cent of global stock market capitalisation. 

Through WorldTrader, users can trade equities, exchange-traded funds (ETFs), and bonds, as well as invest in mutual funds and fixed-income products, said the release announcement.

HSBC WorldTrader 

WorldTrader connects to 77 exchanges across 25 markets, catering to the growing demand for international investments.

Customers can utilise HSBC’s mobile app or online banking to engage with the platform.

The platform offers real-time management of investments, along with free market data, news, and expert analysis, powered by Interactive Brokers.

Mohamed Al Marzooqi, CEO of HSBC Bank Middle East, emphasised the strategic importance of launching WorldTrader in the UAE. 

He highlighted that the platform empowers customers by providing seamless access to global markets, aligning with HSBC’s commitment to catering to internationally-minded affluent clients. Mohamed Al Marzooqi said, “Our new wealth trading platform empowers our 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 to better serve the sophisticated needs of our international-minded affluent clients,” added Al Marzooqi.

HSBC’s investor focus

Recent HSBC surveys, including the Affluent Investor Snapshot 2024, reveal that 55 per cent of UAE respondents plan to increase their international investments. 

The UAE investors are among the most engaged, with an average of 10 monthly checks on their investments and five trades per month. This high engagement level, matched only by India among the 11 markets surveyed, demonstrates the robust demand for an investment platform such as WorldTrader.

Dinesh Sharma, HSBC’s regional head of WPB, EMEA, stated, “We are digitising at scale to provide best-in-class wealth management solutions. WorldTrader meets customer priorities for simplicity, sophistication, access to global exchanges, and security.” 

He also noted that the UAE’s digital proficiency makes it an ideal market for the WorldTrader launch.

HSBC WorldTrader is entirely digital and powered by Interactive Brokers, a company known for pioneering electronic trading and currently 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.

How to invest:

• HSBC Customers: Existing account holders can set up their investment accounts through the HSBC UAE app and begin trading on the WorldTrader platform via mobile or desktop.
• New Customers: Those not yet banking with HSBC will need to open an HSBC current account to access the platform.

Funding and fees

Upon opening an investment account, customers receive five HSBC investment funding accounts in USD, EUR, GBP, HKD, and AED.

WorldTrader offers tiered trading fees in all markets except Mexico. Fees decrease with higher trading volumes, and there are specific fee structures based on trade volume or value, depending on the market.

HSBC will apply an administration fee for each fixed-income product or equity security held in the investment account, calculated daily.

This launch of WorldTrader in the UAE highlights HSBC’s ongoing commitment to expanding its digital wealth capabilities and serving the sophisticated needs of its global clientele.

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