New Global Investment Platform Launches from Dubai
A new global investing platform named 'Dealing' has launched from Dubai with the goal of making global markets more accessible for long-term wealth creation. Backed by the Finvasia Group, the platform offers investors access to over 30,000 financial assets, including stocks and other securities, across more than 120 countries and 10 global exchanges from a single account.
- The platform's parent company, Finvasia Group, was co-founded by brothers Tajinder and Sarvjeet Singh Virk. Before starting Finvasia, Tajinder Virk was a vice president at Fortis Bank in the US, where he managed a $1.6 billion portfolio in emerging markets. - Finvasia Group is expanding its presence in the UAE by establishing regional headquarters for five of its brands, including the social trading platform ZuluTrade, as part of the UAE's NextGen FDI initiative. The group serves over 5 million clients worldwide and has processed trillions of dollars in trading volume. - The launch in Dubai is strategic, as the UAE's digital brokerage market is valued at approximately USD 1.2 billion and is seeing a surge in retail trading activities. The UAE's focus on becoming a global tech hub, supported by government initiatives, has attracted over 60 fintech startups in the last year. - Co-founder Tajinder Virk has been critical of existing brokerage models that profit from frequent trading, highlighting that the most successful investors are often those who trade the least. 'Dealing' is positioned as an "investment-first" platform to encourage long-term, disciplined wealth creation. - The platform is launching into a region with a rapidly growing concentration of wealth. The number of ultra-high-net-worth individuals in the Middle East grew by 7.4% in the first half of 2022, and assets under management in the region reached $1.2 trillion. - Dubai's financial landscape is regulated by the Dubai Financial Services Authority (DFSA), which operates within the Dubai International Financial Centre (DIFC), a financial free zone. This framework is based on English Common Law, providing a stable and familiar legal system for international investors. - The platform's launch aligns with a broader trend among high-net-worth individuals in the Middle East who are increasingly diversifying their portfolios and utilizing digital investment platforms. There is also a rising demand for Sharia-compliant financial products, a market segment that wealth managers in the region are increasingly catering to. - Finvasia has a history of offering commission-free financial products, such as its trading platform Shoonya in India, with a stated goal of creating a more transparent and accessible investment ecosystem.
