Phoenix Group is a leading IT and technology solutions company based in the UAE. The company specializes in providing a wide range of services including cloud computing, data analytics, cybersecurity, and IT infrastructure. With the rapid growth of the digital economy, Phoenix Group has positioned itself as a key player in the region’s tech ecosystem, helping businesses adapt to the latest technological advancements. In 2023, Phoenix Group announced its plans to go public with an IPO on the Abu Dhabi Securities Exchange (ADX), raising $370 million. This IPO offers an exciting opportunity for investors to gain exposure to the rapidly growing IT sector, driven by increased demand for digital transformation in both the public and private sectors.
Phoenix Group’s IPO is expected to attract significant interest from investors due to its strong market position and its role in shaping the digital future of the UAE. With continued growth in areas like cloud computing and cybersecurity, Phoenix Group is well-positioned for long-term success. For those looking to invest in the IT and technology space, this IPO offers a compelling opportunity.
IPOs are risky investments. If you want to invest in one, make sure you are well-informed.
If you would like to take a step back and read about how to buy shares online, click here.
Top broker for buying Phoenix Group shares
1. eToro – Best Crypto Exchange for Beginners
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro is a popular investment platform in the UAE, offering access to IPOs with a simple and user-friendly interface. It allows investors to participate in newly listed companies with fractional shares, making it accessible to those with smaller capital. The platform provides access to global markets, making it a convenient option for UAE investors interested in diversifying their portfolios with IPO investments.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Fees for trading Phoenix Group stocks
Let’s take a look at the fees for trading Phoenix Group shares at our recommended brokers. You have to count with different kinds of fees when you are trading with Phoenix Group shares.
Commission is a fee, based on the traded volume or a flat fee per trade. For example, 0.1% of €10,000, $5/trade, or $0.005/share. Needless to say, these are different at each broker.
Let’s see the fees of trading with Phoenix Group shares at our recommended broker eToro.
| Fee Type | Amount | Details |
|---|---|---|
| Commission on Stocks | $0.00 | No commission for buying non-leveraged stocks, including IPOs |
| Spread (CFDs) | Varies | Charged based on the difference between buy/sell prices |
| Currency Conversion Fee | 0.5% | Applied to non-USD deposits/withdrawals |
| Withdrawal Fee | $5 per withdrawal | Fixed fee for each withdrawal from the account |
| Inactivity Fee | $10/month | Applied after 12 months of inactivity |
| Overnight/Weekend Fees | Varies (x3 on weekends) | Charged on open CFD positions |
Conclusion
In conclusion, you can purchase Phoenix Group stock once trading begins. Here are four simple steps to follow:
- Choose a broker
- Set up your account
- Add funds to the account
- Purchase the stock
Although it may seem complicated, just break it down into manageable steps. Keep in mind that opening and funding an account can take some time, so it’s smart to plan ahead if you want to trade Phoenix Group shares on the first day.
For more information on IPOs, take a look at our article on IPO investing.
If you’re still uncertain, try our broker selector tool to help you choose the right online broker for your needs.