iFX Dubai catch-up: the key points from the Expo

Author: Michael Levine

Two weeks ago, the TFB team had the pleasure of attending the iFX Expo in Dubai. .

As always, it was a prime industry event filled with expert content, networking, and positive energy. In this article, we want to reflect again on what was discussed, the new insights we gained, and the trend predictions we’ve heard.

#1 Dubai further strengthens its position as a financial centre

We talked about it in more detail in a separate article, but it’s becoming more evident now that Dubai is on its way to becoming a global financial centre.

While the city was already seen as a hub by many Asian, BRICS, and LATAM enterprises, it is now globally recognised across all continents. The no-tax and no-barrier policy has undoubtedly played a role in encouraging companies to launch local operations. But these things take time. So, even though we saw some traction back in the 2000s, it is only now that they are finally reaping the benefits of the long-term strategy.

#2 Prop Trading is on everyone’s mind

Something else that should not come as a surprise is that everyone is excited about the prop trading business. For existing brokerages, it diversifies their revenue streams and makes them known to new target audiences. For traders, it’s an engaging and safe way to learn and practice the art of trading.

#3 New government regulations make the market better

Market regulation is a necessary but often underestimated growth tool. During the Expo, we spoke with current and potential market players who share the same idea. Regulation is strengthening and new laws and rules are being introduced, helping the local market stand on its own two feet. With clear procedures and transparent instruments, more companies are willing to open local offices and expand their services to Dubai. The government there is carefully reviewing what works and what doesn’t in other countries around the globe, and they’re doing a fine job of implementing best practices to ensure there are no unnecessary hurdles for companies choosing the city as its headquarters.

#4 Everything is growing at a fast pace

Overall, the atmosphere at the iFX Expo and in Dubai in general is very positive and dynamic. You can feel the city bustling as soon as you get off the plane. According to Finance Magnates, the UAE’s fintech market grew by 92% in 2023 despite the global slowdown. Dubai’s consistent focus on attracting more fintech businesses while providing all the necessary infrastructure and stability is paying off. While the world talks about the recession, Dubai is growing and building a solid foundation for its future.