HSBC unveils mobile equities in the UAE market

With the debut of the bank’s state-of-the-art Mobile Stocks service, HSBC customers in the UAE may now purchase and sell equities and Exchange Traded Funds (ETFs) using their mobile phones.

Mobile Equities, available only through HSBC’s mobile banking app, allows clients to trade stocks and ETFs listed on the world’s most active international stock markets — the New York Stock Exchange, Nasdaq, London Stock Exchange, and Hong Kong Stock Exchange – in real-time.

The UAE is the first market in HSBC’s MENAT region to receive Mobile Equities, following the launch of the lender’s Global Money Account for mobile banking, which allows customers to transfer funds in real-time to any HSBC bank account in 20 countries and territories worldwide. The platform supports 21 currencies and offers preferential exchange rates.

“The UAE is a growing global hub for international wealth management, a key location for customers demanding sophisticated digital wealth solutions, and an important market for HSBC’s wealth and personal banking business globally, which is why we chose to bring Mobile Equities to the UAE after its initial launch in Asia,” said Nuno Matos, Chief Executive of Wealth and Personal Banking (WPB), who visited HSBC Tower, the lender’s headquarters in the UAE, to launch the mobile solution to the market.