EFG Hermes Rolls Out Digital DFM Account Opening Via Mobile App

(MENAFN- Khaleej Times) With tens of thousands of new investors entering Dubai's stock market this year, brokers are racing to remove barriers to entry. EFG Hermes has become the latest to digitise the process, enabling investors to obtain a DFM investor number and open a trading account entirely through their smartphones.

The move eliminates the need for paperwork or branch visits, creating what the company describes as a fully digital, end-to-end account opening process. The launch is aimed at reducing barriers to investing in DFM-listed securities and expanding access to Dubai's capital markets.

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The announcement comes at a time of strong growth for DFM. During the first half of 2026, the exchange added 42,864 new investors, with foreign nationals accounting for 71.4 per cent of new registrations. Total traded value reached Dh119.5 billion, up 40.4 per cent year-on-year, while average daily traded value rose 45.1 per cent to Dh1.004 billion. Foreign investors represented 51 per cent of total traded value and institutional investors accounted for 71.2 per cent.

Khalifa Rabba, Chief Operating Officer of Dubai Financial Market, said the rollout reflects the continued development of the exchange's digital infrastructure.“The launch of digital onboarding with EFG Hermes reflects the continued evolution of DFM's digital infrastructure and the growing role of regulated platforms in expanding access to Dubai's capital markets,” he said.“Enabling investors to obtain a DFM investor number and begin trading digitally shortens the path from decision to participation.”

Afra Al Suwaidi, Chief Executive Officer of Dubai Central Securities Depository, said the initiative would simplify the investment journey at a time when investor participation is rising.“With 42,864 new investors joining the exchange in the first half of 2026 alone, making that first step effortless is where access begins,” she said, adding that the initiative aligns with efforts to enhance accessibility and efficiency while maintaining investor protection.

For EFG Hermes, the launch builds on its established position in the UAE market. Alaa Moustafa, Managing Director of Individual Retail Sales at EFG Hermes, said the company ranked first on DFM during the first half of 2026 with a 48.52 per cent market share and also led trading on Nasdaq Dubai with a 65.69 per cent share.

Hatem Mohab, Co-Head of Digital Retail Trading Platform at EFG Hermes, described the service as part of a broader push to modernise investing.“By making it faster and simpler to start investing through EFG Hermes ONE, we're helping lower the barrier to entry for new investors and deepen participation in UAE capital markets,” he said.

The two organisations said the initiative is expected to support market liquidity, broaden the investor base across the GCC and regional markets, and accelerate access to opportunities in UAE capital markets.

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