Surge in trading by emerging Generation Z prompts amana to launch commission-less app
amana, a leading online neo-broker in the MENA region, is preparing to launch its highly anticipated, best-in-class trading app that will empower its customers by facilitating access to local and global financial markets, regardless of age, gender, income level, or level of experience.
The multi-asset investment app will offer amana customers a highly personalised trading experience and direct, commission-free access to thousands of assets, such as ETFs, commodities, stocks, currencies crypto, and more.
With transparency and ethical trading at its core, amana’s new app will offer seamless access and greater visibility of the growing financial wealth and investment opportunities in the MENA region. Customers will be able to register and open an account within minutes and explore a unique stock portfolio comprised of hundreds of international companies, as well as over 200 leading regional powerhouses.
Muhammad Rasoul, amana’s Chief Executive Officer, said, “Providing ‘access to all’ regardless of experience level or social status is at the core of amana. As the financial sector transforms to a mobile-first digital experience, our highly anticipated app will help create equality of opportunities, for women and younger generations in particular, and a means for everyone to participate in the regional and global financial markets by removing barriers and enabling a seamless trading experience.”
Gen Z – A reckoning force in investment
amana’s launch comes amid a broader surge in trading by the emerging Generation Z – a young, tech-savvy customer base. With an estimated population of 1.4 Million in the UAE alone, Gen Z customers are driving record-high trading volumes. amana wants to ensure this demographic has access to the best digital tools to be able to better manage and grow their wealth.
“With a growing younger demography entering the world of trading and investment, making informed decisions is crucial. We understand this and it is our endeavour to provide users the required know-how through integrated educational tools to help them navigate and make better investment decisions,” added Rasoul.
The road to success
Driven by the transformational impact of new technologies and data, Generation Z is key to creating a new path for societal and economic advancement in the MENA region. In the UAE alone, financial wealth is expected to reach $700 Billion by 2025 according to BCG, and amana’s platform aims to help customers participate in the region’s growing wealth and opportunities.
By providing a user-friendly interface, financial education and transparency of risks and costs, amana will enable millions of customers access to the world of investment. Its regional stock portfolio will be expanded via the platform with access to stocks of over 200 regional powerhouses, including Emaar, Emirates NBD, Aldar, Saudi Aramco, STC, Fawry, Anghami and other brands from various industry verticals.
amana requires no minimum balance and offers fractional trading. This provides MENA customers access to thousands of products, regardless of their budgets, to get them started on their investment journey. amana customers can invest in full or fractional shares of stocks from international giants like Tesla, Apple, Carrefour, Siemens, HSBC, Barclays, Unilever and BMW. Additionally, the stocks of Apple, Microsoft, Netflix, Disney, Snapchat, Pfizer, UniCredit, Sainsbury, L’Oréal, Rolls-Royce, Ferrari, Hermes, and Burberry are all available to trade, among many others.