In an exclusive interview with Finance Magnates, Achraf Drid, Managing Director of XTB MENA, recently discussed the global growth in trading volumes across the FX and CFD market. Drid believes that the MENA region holds a special place in the global financial services industry.
I-XTB is one of the largest financial brokerages in the world. Listed on Warsaw Stock Exchange, the financial trading services provider witnessed rapid growth in 2021.
Kuyinjabulo ukuba nawe Mr. Drid, kubafundi bethu, ngicela uzethule?
Ngiyabonga ngokuba nami; ngiyazibongela. NginguMqondisi Ophethe we-XTB MENA DIFC e-Dubai, futhi i-XTB ingenye yezinkampani ezihamba phambili emhlabeni zokuhwebelana. Endimeni yami, ngibambe iqhaza elikhulu ekuthuthukisweni kwebhizinisi lenkampani, izinqubo zomthetho, nazo zonke izici zokuthobela. Futhi ngihileleke ngokujulile emandleni ezezimali enkampani ekutshaleni imali ku-Fintech njengoba singanikezi amakhasimende ethu kuphela izinga eliphezulu lokusekelwa kwamakhasimende kodwa nezinga eliphezulu lobuchwepheshe. Kusukela i-XTB yangena esifundeni se-MENA, ngigxile kakhulu ekumiseni nasekulawuleni ukuthengisa okuyinhloko kwenkampani nezinqubo zokulawula ubungozi. Ngiphinde ngibambe iqhaza ohlakeni lokulawula lwenkampani lokuhola i-XTB esikhathini esizayo ngobuqotho nokungafihli lutho.
We are new to the MENA region, but we have been around since 2005 when XTB was founded in Warsaw as a company. We are one of the biggest brokerages in Europe and are also listed on the Warsaw Stock Exchange. Worldwide, we have been offering CFDs, Forex, commodities and indices for years, and then we saw an opportunity in the MENA region to cater to the increasing demand for a reliable and trustworthy broker in this part of the world.
Yini esehlukanisa nabanye abathengisi? Okokuqala, asiyona nje inkampani yezezimali, siyinkampani ye-fintech, njengoba siqasha onjiniyela be-IT abangaphezu kuka-200 endlunkulu yethu, futhi siqhubeka sithuthukisa ukunikezwa kwethu nezinkonzo nyanga zonke. Asibheke ukuqhathaniswa nabanye abadayisi; umgomo wethu uwukuba i-Amazon noma i-Netflix yokuhweba.
Okwesibili, abathengisi abaningi bathembele kuplathifomu ye-MetaTrader 4, kodwa futhi sinikezela ngenkundla yethu yobunikazi ebizwa nge-xStation, esiwine imiklomelo eminingi. Sinethimba elikhulu le-IT elinomthwalo wemfanelo wokuyigcina inolwazi lwakamuva futhi eliqinisekisa ukuthi ihlala isebenza ngempumelelo ephezulu. Ngiyaziqhenya ngenkundla yethu ye-GUI futhi ngikholelwa ngokweqiniso ukuthi ingenye ehamba phambili emakethe.
Okokugcina, sigxila kakhulu emfundweni. Ngikholwa ukuthi singamanye amabrokerage agxile kakhulu kwezemfundo emhlabeni. Izinsiza eziningi zitholakala endaweni yethu, okuhlanganisa amavidiyo ahlukahlukene okufundisa nezinto zokufunda. Okuqukethwe okurekhodiwe akukhiqizwanga yithina kuphela nabanye abadayisi abadume kakhulu emhlabeni. Sigxila kakhulu emfundweni lapho sethula izinkundla zethu kumakhasimende cishe nalapho sihlangana nawo mathupha.
Trading volumes across the FX and CFD industry jumped substantially in 2020 due to the lockdown, while the industry sustained growth levels in 2021, do you think the trend will continue into 2022?
The actual gross market value of OTC FX and CFDs has been rising; the Covid-19-induced market turmoil and strong policy responses drove developments in FX markets throughout 2020. This increase coincided with the significant depreciation of the US dollar against other major currencies. Acting as the primary vehicle currency, the US dollar was on one side of more than 80% of all currency pairs (measured by both notional amount and gross market value). Sizeable US dollar exchange rate movements can lead to more trading in FX and CFDs in the current year (2022).
Additionally, if you look back into the last ten years, forex trading has grown exponentially. Looking at the forex market in 2008, there were about US$48 trillion traded, and today that number is closer to US$80 trillion, which shows a growth of over 50%. I believe that the volume will continue to grow in 2022 at a steady rate, with forex trading making up 40% of the world’s total market.
Mayelana nezinsizakalo zezezimali, isifunda se-MENA singesinye sezifunda ezikhula ngokushesha emhlabeni, yini eyenza i-MENA ihluke kwezinye izindawo?
Ukubaluleka kweMpumalanga Ephakathi kukhula ngokushesha emakethe ye-forex yomhlaba, ikakhulukazi ngengxenye yayo yokudayisa, uma kuqhathaniswa nokwehla okulinganiselwe kanye nokwehla kwezinye izimakethe zamazwe ngamazwe.
Kugqugquzelwa ukwanda kokuqwashisa ngabatshalizimali ngamathuba atholakalayo ekuhwebeni komhlaba wonke kanye nendawo yamasu yesifunda phakathi kwe-Asia ne-Europe njengendawo yokusebenzela. Indawo yesikhathi yasendaweni iyenza ikwazi ukuthwebula amahora okuvula imakethe eMpumalanga Ekude nase-US…kanye namahora okuvalwa ngosuku olufanayo lokusebenza, iyenze ifinyelele kangcono emakethe yomhlaba wonke, ikakhulukazi izimali ze-G7.
As we are based out of Dubai and regulated by the DIFC, we have experienced substantial growth of the UAE economy and the increasing number of ex-pats coming to live and work here; we have seen FX transactional flows rising, both in and out of the country.
Ukuqhubekela phambili ku-2022, i-XTB MENA ihlela kanjani ukwandisa ubukhona bayo esifundeni?
The MENA region did go through significant challenges during the last two years, (with) the COVID-19 pandemic having an impact on the regional economy, like the rest of the world. However, some countries have adopted rapid, decisive and innovative measures to contain the virus, such as the smooth crisis management developed by regional governments.
MENA countries have responded rapidly to mitigate the economic consequences of the crisis on the private sectors and households and keep the financial market functioning. On average, 2.7% of GDP was allocated to fiscal measures, while 3.4% of GDP (over USD 47 billion) in liquidity injection was activated by Central Banks across the region during the first few weeks of the crisis.
The MENA market is estimated to witness significant growth, and at XTB, we feel very confident. The reason we decided to establish XTB regional office in the UAE is part of our strategic growth plan to support our customers locally, not only in FX but across other asset classes under our portfolio, including oil, gas and bullion.
Uxhaso ludlale indima ebalulekile ekuqwashiseni umkhiqizo womhlaba wonke ngezinkundla zokuhweba ngezezimali, i-XTB ihlela kanjani ukusebenzisa uxhaso lwezemidlalo ukuze ikhule emhlabeni wonke?
Esikhathini esidlule, sasibambisene noMcLaren Mercedes, bese kuba nomlingisi waseHollywood uMads Mikkelsen, futhi manje sinokubambisana noJose Mourinho, futhi sinezinye izinhlelo zesikhathi esizayo - ngenxa yezizathu ezicacile; singathanda ukugcina lokhu njengokumangazayo!
In an exclusive interview with Finance Magnates, Achraf Drid, Managing Director of XTB MENA, recently discussed the global growth in trading volumes across the FX and CFD market. Drid believes that the MENA region holds a special place in the global financial services industry.
I-XTB is one of the largest financial brokerages in the world. Listed on Warsaw Stock Exchange, the financial trading services provider witnessed rapid growth in 2021.
Kuyinjabulo ukuba nawe Mr. Drid, kubafundi bethu, ngicela uzethule?
Ngiyabonga ngokuba nami; ngiyazibongela. NginguMqondisi Ophethe we-XTB MENA DIFC e-Dubai, futhi i-XTB ingenye yezinkampani ezihamba phambili emhlabeni zokuhwebelana. Endimeni yami, ngibambe iqhaza elikhulu ekuthuthukisweni kwebhizinisi lenkampani, izinqubo zomthetho, nazo zonke izici zokuthobela. Futhi ngihileleke ngokujulile emandleni ezezimali enkampani ekutshaleni imali ku-Fintech njengoba singanikezi amakhasimende ethu kuphela izinga eliphezulu lokusekelwa kwamakhasimende kodwa nezinga eliphezulu lobuchwepheshe. Kusukela i-XTB yangena esifundeni se-MENA, ngigxile kakhulu ekumiseni nasekulawuleni ukuthengisa okuyinhloko kwenkampani nezinqubo zokulawula ubungozi. Ngiphinde ngibambe iqhaza ohlakeni lokulawula lwenkampani lokuhola i-XTB esikhathini esizayo ngobuqotho nokungafihli lutho.
We are new to the MENA region, but we have been around since 2005 when XTB was founded in Warsaw as a company. We are one of the biggest brokerages in Europe and are also listed on the Warsaw Stock Exchange. Worldwide, we have been offering CFDs, Forex, commodities and indices for years, and then we saw an opportunity in the MENA region to cater to the increasing demand for a reliable and trustworthy broker in this part of the world.
Yini esehlukanisa nabanye abathengisi? Okokuqala, asiyona nje inkampani yezezimali, siyinkampani ye-fintech, njengoba siqasha onjiniyela be-IT abangaphezu kuka-200 endlunkulu yethu, futhi siqhubeka sithuthukisa ukunikezwa kwethu nezinkonzo nyanga zonke. Asibheke ukuqhathaniswa nabanye abadayisi; umgomo wethu uwukuba i-Amazon noma i-Netflix yokuhweba.
Okwesibili, abathengisi abaningi bathembele kuplathifomu ye-MetaTrader 4, kodwa futhi sinikezela ngenkundla yethu yobunikazi ebizwa nge-xStation, esiwine imiklomelo eminingi. Sinethimba elikhulu le-IT elinomthwalo wemfanelo wokuyigcina inolwazi lwakamuva futhi eliqinisekisa ukuthi ihlala isebenza ngempumelelo ephezulu. Ngiyaziqhenya ngenkundla yethu ye-GUI futhi ngikholelwa ngokweqiniso ukuthi ingenye ehamba phambili emakethe.
Okokugcina, sigxila kakhulu emfundweni. Ngikholwa ukuthi singamanye amabrokerage agxile kakhulu kwezemfundo emhlabeni. Izinsiza eziningi zitholakala endaweni yethu, okuhlanganisa amavidiyo ahlukahlukene okufundisa nezinto zokufunda. Okuqukethwe okurekhodiwe akukhiqizwanga yithina kuphela nabanye abadayisi abadume kakhulu emhlabeni. Sigxila kakhulu emfundweni lapho sethula izinkundla zethu kumakhasimende cishe nalapho sihlangana nawo mathupha.
Trading volumes across the FX and CFD industry jumped substantially in 2020 due to the lockdown, while the industry sustained growth levels in 2021, do you think the trend will continue into 2022?
The actual gross market value of OTC FX and CFDs has been rising; the Covid-19-induced market turmoil and strong policy responses drove developments in FX markets throughout 2020. This increase coincided with the significant depreciation of the US dollar against other major currencies. Acting as the primary vehicle currency, the US dollar was on one side of more than 80% of all currency pairs (measured by both notional amount and gross market value). Sizeable US dollar exchange rate movements can lead to more trading in FX and CFDs in the current year (2022).
Additionally, if you look back into the last ten years, forex trading has grown exponentially. Looking at the forex market in 2008, there were about US$48 trillion traded, and today that number is closer to US$80 trillion, which shows a growth of over 50%. I believe that the volume will continue to grow in 2022 at a steady rate, with forex trading making up 40% of the world’s total market.
Mayelana nezinsizakalo zezezimali, isifunda se-MENA singesinye sezifunda ezikhula ngokushesha emhlabeni, yini eyenza i-MENA ihluke kwezinye izindawo?
Ukubaluleka kweMpumalanga Ephakathi kukhula ngokushesha emakethe ye-forex yomhlaba, ikakhulukazi ngengxenye yayo yokudayisa, uma kuqhathaniswa nokwehla okulinganiselwe kanye nokwehla kwezinye izimakethe zamazwe ngamazwe.
Kugqugquzelwa ukwanda kokuqwashisa ngabatshalizimali ngamathuba atholakalayo ekuhwebeni komhlaba wonke kanye nendawo yamasu yesifunda phakathi kwe-Asia ne-Europe njengendawo yokusebenzela. Indawo yesikhathi yasendaweni iyenza ikwazi ukuthwebula amahora okuvula imakethe eMpumalanga Ekude nase-US…kanye namahora okuvalwa ngosuku olufanayo lokusebenza, iyenze ifinyelele kangcono emakethe yomhlaba wonke, ikakhulukazi izimali ze-G7.
As we are based out of Dubai and regulated by the DIFC, we have experienced substantial growth of the UAE economy and the increasing number of ex-pats coming to live and work here; we have seen FX transactional flows rising, both in and out of the country.
Ukuqhubekela phambili ku-2022, i-XTB MENA ihlela kanjani ukwandisa ubukhona bayo esifundeni?
The MENA region did go through significant challenges during the last two years, (with) the COVID-19 pandemic havi
ng an impact on the regional economy, like the rest of the world. However, some countries have adopted rapid, decisive and innovative measures to contain the virus, such as the smooth crisis management developed by regional governments.
MENA countries have responded rapidly to mitigate the economic consequences of the crisis on the private sectors and households and keep the financial market functioning. On average, 2.7% of GDP was allocated to fiscal measures, while 3.4% of GDP (over USD 47 billion) in liquidity injection was activated by Central Banks across the region during the first few weeks of the crisis.
The MENA market is estimated to witness significant growth, and at XTB, we feel very confident. The reason we decided to establish XTB regional office in the UAE is part of our strategic growth plan to support our customers locally, not only in FX but across other asset classes under our portfolio, including oil, gas and bullion.
Uxhaso ludlale indima ebalulekile ekuqwashiseni umkhiqizo womhlaba wonke ngezinkundla zokuhweba ngezezimali, i-XTB ihlela kanjani ukusebenzisa uxhaso lwezemidlalo ukuze ikhule emhlabeni wonke?
Esikhathini esidlule, sasibambisene noMcLaren Mercedes, bese kuba nomlingisi waseHollywood uMads Mikkelsen, futhi manje sinokubambisana noJose Mourinho, futhi sinezinye izinhlelo zesikhathi esizayo - ngenxa yezizathu ezicacile; singathanda ukugcina lokhu njengokumangazayo!
