Market
Research for
Financial
Training
Academy in
Dubai
Preface:
This report aims to give clarity on the present market for setting up new Financial Training
academy in Dubai with Courses being on Forex, Derivatives, Equities, Gold Bullion & Crypto
Currencies. The Education industry is taken for consideration to give the overview and
followed by Training Industry as Training industry is subset of Education Industry. Also there
has been overlapping of all these instruments of trading by institutes. The Geographical
overview is looked at UAE and in context to Dubai. The methodology used for this report is
purely secondary research where in the data has been researched from available resources,
which are not proprietary or have any such copy rights and use of the data leading to any
infringement of rights, the data which is available in open domain has been taken and presented
to give clarity of the objective of this report which is to understand the current market, it needs
and way forward.
Methodology:
All information presented in this report is purely available content in open domain, the idea of
the setting up Financial Training Academy for imparting trainings in Forex, Crypto Currency
& any other financial instruments has been kept in core of the thought process be it analyzing
the market, the trends, the competitors, and target segmentation.
The links from which data has been derived has been complied in to support the report with
the sources from where it is taken. The analysis has been derived based on the data collected
to give clarity on the way forward and existing market scenarios.
TABLE OF CONTENT
SL NO DETAILS PAGE NO
1 Overview of the Market 4
2 Stock Exchanges in UAE 5-6
3 Introducing Brokers Overview 7
4 Market Overview 8-9
4.1 Forex Trading
4.2 Equities & Derivatives
4.3 Crypto Currency
5 Competition Overview 10-13
Direct Competition 10-11
Indirect Competition 12-13
6 Target Segment 14
6.1 Forex Trading
6.2 Equities & Derivatives
6.3 Crypto Currency
7 USP 15
7.1 Direct competition
7.2 Indirect Competition
8 Marketing Strategy 16
9 Price Analysis 17
10 Need & Objectives of Financial training 18
11 Factors leading to Growth 19
12 Market Analysis Overall Financial Training 20
13 Advantages New Entrant 21
14 Key Take Aways 22-23
1. Overview of Market:
The number of HNWIs in the UAE is expected to rise from 163,000 in 2021 and reach more
than 228,000 by 2026, a 39% increase according to a March report by Consultancy Knight
Frank.
HNI's
250000 se
I ncrea 228000
3 9%
200000
163000
150000
100000
50000
0
2021 2026
The UAE has become a millionaire magnet, with 4,000 high-net-worth individuals (HNWIs)
and ultra-high-net-worth individuals (UHNWIs) projected to flow into the country by the end
of 2022. With Dubai already home to more than 67,000 millionaires.
Also, the number of ultra-high-net-worth individuals (UHNWIs) with a $30 million net wealth
possess about 41 per cent of the wealth and might increase by 43 per cent by 2026 in the UAE
The UAE has ranked fifth in the world in a recent survey that ranks countries according to their
interest in stock trading. No other Gulf or Arab nation made it to the top 10.
The AMF said that the market value of the Abu Dhabi Securities Exchange reached $714.6
billion in the reference year, while that of Dubai Financial Market was valued at $158.4 billion
2. Stock Exchange centers in UAE
There are 3 stock exchange centers in UAE. Dubai Financial Market(DFM), Abu Dhabi
Securities Exchange(ADX) and NASDAQ Dubai.
Dubai Financial Market (DFM)
DFM is the first stock exchange center in UAE. It was established in early 2000. It has more
than 170 companies listed with them. Even though the DFM market had some fluctuations in
the profits, it has experienced a high profit in the year 2007. It was recorded about 1439.6
Million. DFM operates on the basis of Islamic principles which means companies that are
against sharia laws will not be approved.
Since 2010, DFM is working on UAE regulations that are governed by Securities and
Commodities Authority(SCA). It works with 5 core values like transparency, efficiency,
confidentiality, integrity, and innovation.
Companies listed on DFM:
There are several companies registered at DFM. It approves all the sectors and organizations
that follow sharia principles. Here’s a list of companies on DFM
• Ajman Bank
• Commercial bank of Dubai
• Dubai Islamic Bank
• Gulf Finance House
• Mashreq bank
• Emirates NBD
• SHUAA Capital
• Dubai Investments
• Oman Insurance Company
• Emaar Properties
• Air Arabia
• DU
Abu Dhabi Securities Exchange (ADX)
ADX was established in November 2000. It trades the stocks of UAE companies. It has
branches in Ras Al Khaimah, Al Ain, Fujairah, and Sharjah. It trades companies from different
sectors like banking, insurance, services, industries & hotels. It works with values like
transparency, integrity, efficiency and customer-centric.
Companies registered on ADX:
• ADCB
• ADIB
• FAB
• Finance House
• Union National Bank
• Noor Takaful
• Etisalat
• Qatar Telecommunications
• Gulf Pharmaceutical Industries
NASDAQ Dubai
NASDAQ Dubai trades stocks of local and international companies as well. The majority of
stocks at NASDAQ Dubai are held by DFM. It is located in the Dubai International Financial
Center(DIFC). It has the top valued companies listed for trade.
Some of the companies listed on NASDAQ:
• Bank of London and the Middle East(BLME)
• Real Estate Investment Trust(REIT)
3. Introducing Brokers (Ib) Overview
An introducing broker (IB) is an individual or organization that solicits or accepts orders to
buy or sell futures contracts, commodity options, retail off-exchange forex contracts, or swaps
but does not accept money or other assets from customers to support these orders
Best Forex Brokers in the UAE
The forex market in the UAE is saturated with different providers. After careful consideration,
we have narrowed down our list to the top ten forex brokers in the UAE – which are listed
below:
1. eToro – Overall Best Forex Broker in the UAE
2. Evest – Top Forex Broker Offering Tight Spreads
3. Libertex – Popular CFD Broker with Zero Spreads
4. AvaTrade – Heavily-Regulated FX Broker with MT4/MT5 Support
5. Pepperstone – Forex Broker for Advanced Traders
6. FOREX.com – Specialist Forex Broker for UAE Traders
7. XM – Trade Forex with Leverage of Up to 1:1000
8. HotForex – Leading Forex Broker in Dubai
9. IG Markets – Access Over 80 Forex Pairs
10. Interactive Brokers – Top Forex Broker for Tight Spreads and Deep Liquidity
11. Vantage partners
12. Windsor Brokers
13. Equiti
14. Noor Capital
15. AXI Group
Banks offering IB Programme
1) Saxo Bank
2) Mashreq Neo Bank
3) Emirates NBD
4) ADCB
5) Noor Bank
4. Market Overview
4.1 Forex Market:
• In the United Arab Emirates, there are two financial markets, namely the Abu Dhabi
Securities Exchange (ADX) and the Dubai Financial Market (DFM).
• UAE is an Emerging Forex Market in the Gulf
• Foreign exchange in the Middle East now accounts for 8% of the global forex market.
A mere ten years ago, forex was in its infancy.
• Abu Dhabi Securities Exchange is considered the 35th largest stock market out of the
110 stock exchanges in the world. As of June 2019, the Abu Dhabi Securities
Exchange's Market Capitalisation has recorded a value of approximately AED 509
billion ($138 billion).
4.2 Equities & Derivatives
• The value of equities traded on Nasdaq Dubai in January 2021 reached USD 1,097,411,
up 347% from USD 245,341 in December 2020. Volume in January 2021 reached
3,147,260 shares, up 171% from 1,160,163 shares in December 2020.
• The FTSE Nasdaq Dubai UAE 20 index ended January 2021 at 3,382.94, up 10% from
3,061.74 at the end of December 2020.
• The index tracks liquid stocks listed on UAE exchanges. It has been designed as a
hedging and investment mechanism for GCC and international investors.
• Traded value in January 2021 on the equity futures market reached AED 4,607,175, up
810% from AED 506,372 in December 2020. A total of 6,861 contracts traded in
January 2021, up 379% from 1,432 contracts in December 2020.
• The most active broker (excluding market-making) by value on the equity futures
market in January 2021 was Al Ramz Capital followed by BH Mubasher Financial
Services
4.3 Crypto Currencies:
• UAE crypto market expected to grow 10-fold.
• Dubai aims to be among the world’s top 10 cities in the metaverse economy, creating
40,000 virtual jobs and adding US$4 billion to its economy in five years.
• 35% of the UAE’s population have purchased crypto tokens. Meanwhile, about 32%
of Emiratis are likely to invest in crypto in 2023.
• Dubai ranked 2nd most crypto-ready city in the world.
• Dubai set up Virtual Assets Regulatory Authority (Vara)
• Major cryptocurrency firms crypto.com, Bybit, Binance, Deribit present in Dubai.
• Around 11.4 per cent of the UAE residents have invested in cryptocurrencies. This
means one out of 10 people in the UAE have exposure to cryptocurrencies.
• According to a Gemini survey, the UAE is the third biggest country in the world in
terms of crypto adoption with 35 per cent already owning some form of
cryptocurrency.
• The UAE digital economy contributes 4.3 per cent to the national economy, according
to government data.
• The UAE’s share in the global crypto market has increased 500% between July 2020
and June 2021 and is now over US$25 billion in transactions value.
5. Competition Overview.
For studying competition, we have divided into two components.
a) Direct Competitors
b) Indirect competitors
Direct Competitors
These are the institutes which offer Trading courses, and they are focused only onto the Offering courses for Trading.
Details www.tradepedia.com www.tradingacademy.com www.ettfos.com www.zylostar.com www.onlinetradingcam
pus.com
License Details DIFC with licence no. KHDA Approved KHDA Approved KHDA Approved UAE governmental
CL1433, license no 942782 authorities
Programs 1) Omega Trading 1) Core Strategy 1) Turn key Master 1) Premium 1) Strategy program
Mastery programme 2) Digital Assets Class. Training Course 2) Learn Forex Trading
2) Foundations of 3) XLT Overview 2) Advanced 2) Advanced 3) Learn Futures
Investing 4) Strategic Investor Techniques- stocks Training Course Trading Strategies
3) Certified Financial Course 5) XLT 3) Advanced 4) Learn long term
Technician Level 1& 2 Overview Techniques options in stocks investing
stocks
4) Advanced
Techniques options in
Futures
Duration 1) 4 weeks 1) 7 Days 4 Days for all trainings 7 Days for all 1) 10 wks
2) 3 Days 2) 5 Hours trainings 2) 8 Wks
3) 18 Days 3) 12 Wks. 3) 8 Wks
4) 12 Hours 4) 5 Wks
5) 12 Wks.
Year of Est 12/08/13 2005 1997 25/03/21 2019
Cost in AED 14596 1) 29182 21900 1) 2500 1) 10950
2) 3632 2) 4000 2) 7300
3) 69332
4) 7282
5) 54732
No Trained as 20000
Mentioned in
Website
Face Book 8300 107205 210 84 453
Followers
Linkedin 1981 22900 149 2184 994
Twitter 1389 12500 9 6 0
YouTube 13800 93800 0 1003 181
USP Avramis Despotis 360-Dgree approach to Leverage 30+ years of Giving access to a Enrolment Process
curated 20 years’ trading education trading experience. trading course
experience program
Indirect Competitors
These are the institutes which offer variety of courses across industry from General training to Management training to Financial & Accounting
training. These have one course on Trading courses, and they are focused only onto the Offering variety of courses.
Details www.glomac www.astcdub www.mithunsmoneyma www.ig. www.learnerpoi www.adgmacade www.zabeelinsit
s.com ai.com rket.com com nt.org my.com ute.ae
License KHDA KHDA KHDA
Details
Progra Global FX and Equity improve performance Introduci Bitcoin and Financial Markets Stock Market
mes Banking, Options ng the cryptocurrency Trading and Forex
Money Training Financial trading mastery Programme: Trading Training
Markets, Market Become a Trader in Dubai
FOREX, and
Swaps
Duratio 4 days 3 days 7 days 40hrs 20hrs 72hrs
n
Year of 2003 2000 2014 2003 2001 2018 1988
Est
Cost in 21718 4563 7350 7875
AED
Face 906 264 1500 126824 14533 18000
Book
Followe
rs
Linkedi 40933 830 68 90000 6944 7042
n
Twitter 153 7 2402 644 1382
YouTub 254 49 962 3666 29 1890
e
USP Management Courses in Founder himself is IB General IT and Courses on General courses
, Operational, Management trainer Courses only for program Management Banking, Finace & & consultancy
Technical & leadership, Forex me courses entreprenuership
Sector finance &
specific treasury,
Human
resource
Target Audience who can be potential clients for training academy
converting to investors.
• Financial professionals: Individuals working in the finance industry, including investment
managers, analysts, traders, and brokers.
• Students and recent graduates: Students and recent graduates who are interested in
pursuing careers in finance may find equity and derivative training courses useful to help
them gain knowledge and skills that can make them more competitive in the job market.
• Individuals interested in trading: Individuals who are interested in trading stocks, options,
futures, and other financial instruments may find equity and derivative training courses
helpful to learn the basics of trading and gain an understanding of market dynamics.
• Business owners and entrepreneurs: Business owners and entrepreneurs who want to
invest in the stock market or other financial instruments may benefit from equity and
derivative training to help them make informed investment decisions and manage risk
effectively.
• General public: Any person aged 18+ who are interested in learning more about financial
markets and how they work may also find equity and derivative training courses helpful.
• High income earners: Trading can be a high-risk, high-reward activity that requires a
significant amount of capital to invest. Therefore, individuals with high incomes, such as
executives, entrepreneurs, and business owners, may be more likely to be interested in
equity and derivative trading courses.
• Mid-to-high income earners: Individuals with mid-to-high incomes, such as professionals
in the finance, legal, or consulting industries, may also be interested in equity and derivative
trading courses to enhance their knowledge and skills in these areas
6. Marketing Strategy Adopted
Every competitor be it direct or indirect has presence on Digital Marketing, with major of the
target segment searching on google has made every player to be present on digital marketing
be it google ad words or SEO. Few Examples
The reason for being highly concentrated on Digital Marketing being high literacy among
expats who seek trainings for enhancement of their job prospects hence search online, cost of
other media is expensive when compared to presence in Digital media.
Presence on social media is another highlight of all the Direct and Indirect competition with
active postings on Facebook, YouTube, Twitter & Instagram.
AdWords campaigns by both Direct and Indirect competitor for Inorganic growth is more
predominant when compared to Organic growth.
7. Price Analysis:
In overall average courses in financial literacy start from 2,500 AED to 69,332 AED with
average being 20,000 AED. keeping in mind duration being not more than 40hrs. The courses
are provided online, one to one & classroom type.
These institutes provide close to 20% discounts when the end customers call and negotiates the
prices mentioned in the website are not strictly followed. This clearly indicates that course
curriculum once designed does not change for 3 to 5 years until and unless some new things
come up, so the ROI on course curriculum is higher as the same course once made is taken care
for good long time.
The online courses are basically providing soft copy of the content and videos which are
followed by the institute making WhatsApp group where in the whole batch post their doubts
and questions which are answered by the trainer.
The one to one training or online training are just not more than 40hrs, so these courses have
high returns as it depends on the end customer and his seriousness to complete course at faster
pace.
8. Factors leading to Growth
Increase in private wealth.
Private wealth has risen by US$46 billion between 2019 and 2021 with 5,600 millionaires
moving into the UAE, as quoted in Henley's ‘Global Citizen’s Report
Consumer trust
UAE consumers appear to have a healthy appetite and trust in crypto. A YouGov survey
showed that ‘two-thirds of UAE residents (67%) say they are interested in investing into
cryptocurrencies within the next five years and, that UAE is one of the top markets globally
where consumers say they trust cryptocurrencies (40%)’.
Dubai as a global fintech capital
DIFC’s comprehensive fintech and innovation proposition has created unparalleled
opportunities for success for start-ups, global players and unicorns. The continually growing
platform includes access to education, entrepreneurship, and accelerator programmes,
mentoring and networking, operating and regulatory licences, and funding and expertise
through venture studios – all under one cost-effective roof – presents the ultimate platform to
innovate and scale.
9. Advantages what New Entrant Has?
The UAE is a dynamic and growing market with a high demand for quality training and
development opportunities. With the growth of the financial sector and an increasing number
of investors and traders, there is a significant opportunity for a new training center to offer
equity and derivative training courses.
Here are some reasons why there is an opportunity for a new training center in the UAE:
1. Growing financial sector: The UAE has a rapidly growing financial sector, with an
increasing number of investors and traders. This provides an opportunity for a training
center to offer courses that cater to the needs of the financial industry.
2. Lack of specialized training centers: Although there are several institutes and training
centers in the UAE that offer financial training courses, there is still a need for
specialized training centers that focus on equity and derivative training.
3. Demand for professional development: There is a growing demand for professional
development opportunities in the UAE, particularly among young professionals who
are looking to enhance their skills and advance their careers. A new training center that
offers equity and derivative training courses could tap into this demand and attract a
large customer base.
4. Strategic location: The UAE is strategically located between Europe and Asia, making
it an ideal location for a training center that caters to an international clientele. This
provides an opportunity to attract customers from neighbouring countries and beyond.
To capitalize on this opportunity, a new training center should have a strong value proposition
that sets it apart from existing institutes and training centers. This could include offering high-
quality instructors with extensive industry experience, developing customized training
programs, providing hands-on learning opportunities, and leveraging technology to enhance
the learning experience. Additionally, a new training center should develop effective marketing
strategies to reach potential customers and build a strong brand reputation in the market.
10. Key Take Aways from Market Research
1) Only digital advertising is required for marketing of the business, but it needs good
concentration of funds to fight in this heavy digital key words market as cost per key
word will be high.
2) There are lot of players who provide training, and it has also been observed those who
provide financial training also provide training for other industries.
3) The courses are open to anyone and everyone for enhancing the knowledge as these
courses major of them do not come with any certifications from any authorized body
or organization.
4) The courses are majorly hourly basis starting from 24hrs to 40hrs giving freedom to
learners at their convenience.
5) The courses are with combination of Online / Classroom and one to one training.
6) The courses are designed for learners / intermediate and professional when it comes to
forex and crypto.
7) Cost of courses starts from 150 AED and goes up to 8,500 AED but lot of discounts are
given when negotiated.
8) Once the course content is prepared the changing of course content takes 3 to 4 years
so once course content is designed it will not have cost of updating.
9) The presence of major players is in Dubai being the highest followed by Abu Dhabi
and Sharjah.
10) Fragmented market segment with no leader has been observed as every institute has
created some course or the other some of them even teach basic Excel also.
11) Focusing on Forex trading and Crypto there are dedicated 5 players who focus only on
these components.
12) Major indirect competitors focus on Finance and accounting training which is most
sought after as expats who arrive for job markets look for it to enhance their job search.
13) Having a bouquet of offerings would be ideal for starting and positioning for niche
segment of Forex Trading and Crypto
14) Bitcoin and crypto are being offered by the top 5 players in this segment.
15) Overall Finance as Segment is most sought after for training and knowledge
enhancement.
16) Forex trading and Crypto currency are new lot and focusing will help in positioning on
par with current top 5 players.
17) The end users who complete training are the target segment whom we refer to IB
introducing Broker for investments in NASDAQ and other bourses. Which will also be
a revenue stream.
Positioning suggestion
After the through study of the market and the various offerings by various players the crowded
market is overall umbrella of Finance / Accounting / Auditing/ Budgeting. The presence of few
players seen in specialized approach towards Forex Trading/ Equities & Derivatives & Crypto
currency. This segment if well prepared curriculum will play vital role in success for the new
venture in this domain.
If further to value add giving 50$ credit for taking up position after opening of the account will
be good to do.
