DriveWealth Brings Trading in Fractional Shares to Middle East

This collaboration enables the region’s investors to build portfolios of US stocks starting from $0.99 per trade.

Portfolio manager Wealthface has partnered with US broker-dealer DriveWealth, LLC, to bring fractional investment in the US markets to the Middle East and North Africa (MENA) region. Under this collaboration deal, DriveWealth will serve as an executing broker for US stock trades and also offers Wealthface’s clients an affordable gateway to invest in fractional shares.

“This partnership is a great opportunity to establish our first presence in this important region, and we’re delighted to continue on our geographic expansion,” DriveWealth CEO Robert Cortright said.

Wealthface, which recently unveiled its robo-advice direct indexing platform, says this development helps resolve long-time challenges involved with investing in the US stock market, with Mena investors encountering issues not limited to processing delays.

The company operates out of its UAE offices in Abu Dhabi and holds a dual license from the Securities and Exchange Commission in the US and the Abu Dhabi Global Markets.

This collaboration also enables the region’s investors to build portfolios of US stocks, ETFs, and ADRs with low costs starting from $0.99 per trade. The fractional trading feature also eliminates the barriers that many investors face when trying to invest in a diversified portfolio of high-value securities.

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An array of listed trading products

These include instruments traded at NASDAQ and the New York Stock Exchange, offering over 4,000 assets and indexes from companies such as Apple, Alibaba, Google, the S&P 500 index, and many more.

In addition, the partnership leverages Wealthface’s presence and DriveWealth’s clearing capabilities to enable retail investors to open a live trading account, transfer funds at lower costs, and manage their investments under a completely digital platform.

DriveWealth already partners with many financial institutions, brokers, app developers, and technology companies to provide users with the ability to open a US-based brokerage account and invest in the US equities market. The company’s offering covers six continents, offering its APIs that partners can use to provide new investment capabilities to their clients.

Wealthface Founder & CEO Bilal Majbour stated: “Our partnership with DriveWealth is a significant manifestation of our vision to make the U.S. equity market accessible to everyone everywhere. We want to enable all types of investors to access investment solutions previously unavailable to online investors using our cutting-edge technology at a low cost.”

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