Saham launches Saudi market data on MetaTrader 5
“We, at Saham, are thrilled to start offering a distinctive product which improves our clients’ experience and satisfaction levels. This is only the beginning as we are planning to add Middle East markets to our offering soon.”
Saham Holding has become the first company to start providing real Saudi market data through MetaTrader 5. Saham distributes real-time and historical data for all Saudi financial instruments, under the Tadawul Information License Agreement (TILA).
The fintech and securities firm develops software applications for investors, banks, and financial markets, operating in compliance with the Saudi Capital Market Authority regulations.
MetaTrader 5 to keep pace with Saudi revolution
The company has obtained a license from the Saudi Stock Exchange (Tadawul), which is the sole entity authorized in the Kingdom of Saudi Arabia to act as a Securities Exchange.
Mr. Abdulrhman Al Meshal, CEO of Saham Holding, commented: “It is impossible to keep pace with the Saudi market technical revolution without a technologically sophisticated solution such as MetaTrader 5.
“We, at Saham, are thrilled to start offering a distinctive product which improves our clients’ experience and satisfaction levels. This is only the beginning as we are planning to add Middle East markets to our offering soon.”
Dawul offering Saudi Arabia-based social trading platform
Earlier this year, Dawul raised $5 million in a seed round aimed at funding the development of the Saudi Arabia-based social trading platform that caters to beginner investors.
The fintech firm founded in 2020 by Mansour Al-Harbi provides automated ways to execute trades or follow professional traders and their portfolios and investment strategies.
The investment was led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures. The funds raised will fuel the expand the social trading platform’s product offering and network across the globe, with a focus on the MENA region, the United States, and the United Kingdom.
The $5 million fundraiser is considered one of the largest Seed funding rounds for a fintech company in the Kingdom of Saudi Arabia. The firm acquired a permit from the Saudi Capital Market Authority to conduct financial technology experiments by the end of the same year and was officially launched in July 2021.
Copy trading platforms have grown in popularity as more and more novice investors look to follow professional traders and their portfolios and investment strategies in order to optimize the risk-reward in the capital markets.
Dawul has plans to expand its social trading-related products and its network in the Middle East and North Africa as well as the American and British markets.
