XTB Enters Sponsorship Agreements In UAE Boxing And Greek Economics Olympiad
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XTB MENA has announced that it has teamed up with the UAE Boxing Federation to assist the UAE National Boxing team, events, and coaches.
XTB also got a sponsorship agreement with the Polish youth economists’ team competing in the Economics Olympiad in Greece. Five team members from Poland are joining the competition with people from 33 other countries.
The “Investment Plans” Let Investors Create Portfolios With ETFs
The partnership shows that XTB MENA is getting involved in growing sports in the area. The company has yet to reveal the exact details of the level of support it will render or its plans. The firm noted that this is part of its effort to help sports improve in the UAE.
The competition is happening at the iconic Olympic Stadium in Olympia. The event will be judged by a panel of famous economics professors. The contestants will be tested on both practical skills and theoretical knowledge over several days.
According to reports, XTB has rolled out a new service termed “Investment Plans” in the UAE, after having success with it in Europe. This service gives investors the ability to create varied portfolios using exchange-traded funds (ETFs).
Investment Plans offer ready-made portfolios with automatic investment based on how much risk investors want to take. According to XTB, investors can start with as little as $15 and invest in up to 9 ETFs in different areas and assets. The product also has a regular deposit feature and can be used via XTB’s mobile application with no extra fees or commissions.
The New Recurring Deposit Option Aims To Make Investing Easier
The product is designed for investors who want passive investment choices without needing to manage their portfolios much. The Chief Executive Office of XTB for the Middle East and North Africa, Achraf Drid noted that the new recurring deposit option makes things even easier.
Drid said the team believes passive investing and ETFs have great potential because they are a strong investment option to create a mixed portfolio without choosing each investment individually.
XTB started working in the MENA area in October 2021. At first, it began with FX/CFD tools, then added cryptocurrencies, and last year, it expanded to stocks. The Investment Plans now have a new “auto-investing” option for regular payments.
The company also announced that it is launching two-factor authentication to tighten the security of customers’ accounts. The firm said it will first be used in Poland, but will gradually expand to every country. This project is part of its 2024 roadmap, which includes, rolling out a virtual wallet and multi-currency card.
