UAE

Dubai Financial Market Records Over 57,000 New Investors in 2023

Dubai Financial Market saw significant growth in 2023, according to newly published figures.

Brokerage firms at the Dubai Financial Market (DFM) opened 57,054 new investor accounts in 2023, marking a significant increase of 12.5 percent over the previous year.

The growth was driven by a number of factors, including the strong momentum in the market since the announcement of the listing of government and semi-government companies, as well as the increasing popularity of online trading.

The new accounts were distributed over the months of the year, with a notable year-on-year spike of 184 percent in December, when 6,088 new accounts were opened.

This was due in part to the strong demand from investors for the initial public offering (IPO) of the Dubai Taxi Corporation.

Surging new investor accounts bolster DFM, injecting potential for greater liquidity and trading activity.

In the meantime, the 29 brokerage firms operating in the DFM executed more than 3.83m transactions in 2023, a 32.7 percent increase compared to 2022’s 2.88 million.

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Arabian Business

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