Talal Al Ajmi, CEO and Founder, VI Markets
Increasing the accessibility of trading in Kuwait and the GCC
In this Global Platform video, Talal Al Ajmi, CEO and Founder, VI Markets, talks about increasing the accessibility of trading. Financial markets have experienced significant changes compared to before the Covid-19 pandemic. Kuwait is no exception – trading is becoming more accessible, and the number of women traders is continuing to grow. New technologies are enabling people to trade more effectively, such as by artificial intelligence (AI) and copy trading.
I think the market is changing. Before the Covid-19 pandemic it was something, and now it is totally different. In 2010 the market was very different. If you wanted to open an account in 2010 you had to sign hundreds of papers to start and then you would be given access to open trades by phone.
I think the market has changed now. If you want to start trading, you just open that account with a selfie and start trading in minutes. I think that people need awareness to start trading. What we did is start holding seminars for everyone, and they were for free, especially for youth.
We started in universities. We signed with many colleges within the region: the GCC and the Middle East. If you want financial literacy, I think you should go through a trusted broker or a trusted company to start with because you will get the exact data and the correct data. We noticed that women, especially here in the GCC, need some awareness, but they need to have a special programme.
We started Yasmeen in 2016 to teach women. The percentage of women among our traders was 5%. Now it is more than 40%. I think artificial intelligence (AI) will give you the power of technology to implement your strategy.
If you have a strategy, you can implement it with AI, but without negative emotions. I think if you have a strategy in the markets and you use AI, it will meet all the rules of your strategy and you will get results without the emotion. So many traders are very smart, we can learn from them. They can give us ideas about how to invest.
The idea of copy trading as the future of trading is very easy. If you open the platform for copy trading, you will see hundreds of traders. You can see the results from their years in trading and you can just press the button to copy their trades. You will have access to manage the risk in your account.