This story appeared in our August 2024 issue, featuring the Top 100 CEOs in the Middle East ranking, as well as the Global Meets Local list.

It’s a bright summer evening in the U.K. in June, and Talal Al Ajmi, Founder and CEO of online broker VI Markets, is sitting under a tree in a park, taking a break from planning for his graduation ceremony. Having just completed his master’s degree in financial services management from the University of Salford, the CEO is discussing his thoughts on the importance of educating investors.

“Education is the most important input for a successful trader,” says the Kuwait-based entrepreneur. As he speaks, he notes that VI Markets is simultaneously conducting seminars to teach people about financial markets in its Kuwait and Dubai offices, with training scheduled in Egypt and Al Ain the next day.

“Before we established VI Markets, the reputation of FX and assets trading was very bad in the region, but now we increase awareness and teach everyone about the market,” Al Ajmi explains. “Every day we’re doing seminars for a minimum of 200 and 250 people, and all the courses that we do are free.”

Founded more than 14 years ago, VI Markets is an online brokerage that enables its clients to trade financial assets and derivatives, including forex and CFDs on indices, commodities, energy, equities, and futures. The company today has offices in London, Dubai, Kuwait City, Cairo, and Muscat.

With an eye on future growth, the CEO believes that education is key to individuals making money from financial markets, which in turn helps him grow his business. Before VI Markets’ clients start funding their accounts, they undergo a 10-day seminar to learn the basics. They are then taught strategies like fundamental and technical analysis and risk management, tested, and given scores on various aspects of their trading skills. Once they’ve learned the right tools and skills, they begin to trade with real money.

But an introduction to financial education starts much younger. Last year, VI Markets partnered with KidZania in Kuwait to introduce investment and trading to kids through play. KidZania City in Kuwait City is a 7,000-square-meter scaled-down city, complete with vehicles, pavements, buildings, and workplaces that allow children to role-play real-life activities. The VI Markets Financial Trading Hub was inaugurated in KidZania City, Kuwait, in June 2023.

“At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life-like role-plays, to positively impact society and the environment they live in,” said Steven Putzeys, KidZania City Business Director, in a statement at the time.

Financial literacy is more than just a route to higher levels of financial inclusion. Not having an understanding of the compounding effects of interest rates while having increased access to borrowing can lead to decision-making that leaves individuals overburdened with debt. According to a report by the Kuwait Institute of Banking Studies, financial literacy in the GCC is better than the BRIC countries but still lags behind major economies such as Canada, France, Japan, the U.K., and the U.S.

Kuwait performs well relative to other GCC nations and the world, with large financial institutions contributing towards financial literacy, including through the National Bank of Kuwait’s Bankee program and Kuwait Finance House’s “Diraya” campaign.

“Financial literacy is the cornerstone of a secure financial future, encompassing essential skills like budgeting, investing, understanding credit, and retirement planning,” says Alok Kumar, Cofounder and CEO of fintech platform Zywa. “In the Middle East, rising household debt is a critical issue, particularly in the UAE, where many young adults are caught in debt traps. By equipping young people with financial education, we can empower them to make informed decisions and avoid these pitfalls.”

Al Ajmi himself first learned about online trading in 2003, while at university in Jordan studying IT. After graduating, he returned home to Kuwait and began his career managing a couple of small family businesses with his cousins and brothers. Eventually, he joined a brokerage company and became a branch manager. It was there he realized that there was a financial education gap and started offering free seminars for clients in the office.

However, he came up against some challenges. “To be honest, it was very hard to tell the owners and the board members in the brokerage that I wanted to invest in education and seminars. They had another marketing channel they focused on and that was it,” he remembers.

Al Ajmi established VI Markets in 2010 in Kuwait City by partnering with online trading broker One Financial Markets. In 2019, One Financial Markets was acquired by Axi Financial Services (UK) Ltd, and in 2023, Al Ajmi signed an exclusive partnership with Axi to represent them in MENA, providing investors in the Middle East with a tailored online trading service.

Axi Financial Services (UK) Ltd is registered in England and regulated by the U.K.’s Financial Conduct Authority. As an international broker, Axi has a presence in over 100 countries and is used by traders, trading businesses, banks, and financial organizations to execute transactions on the world’s financial markets.

As an “introducer” to AxiTrader Ltd, which trades under the name One Financial Markets, VI Markets is able to use Axi’s technology to enable its investors to trade forex and CFDs on indices, commodities, energies, equities and futures.

Combining his passion for education with technology, Al Ajmi has leveraged social media to attract clients in the Middle East by sharing his daily trades and educating followers on how to manage their portfolios. Today, he has over 120,000 followers on Instagram. He says the company had over 130,000 clients as of June 2024, with GCC-based clients contributing over 70% of revenues, while the other 30% comes from Egypt, Lebanon, Morocco, and Türkiye. Foreign exchange (Forex) trading contributes the most towards revenues followed by equities.

The global Forex market is the largest financial market in the world by trading volume. While under light regulatory oversight in most countries, the structure and operation of the market have been driven by commercial interests and participants’ needs. Forex trading for financial motives—such as investments in foreign-denominated securities—far exceeds the transaction volume related to international trade.

In the Middle East, the financial brokerage sector is a competitive space, with several international and regional brokers, as well as large financial institutions, competing for market share. Several banks in the region have broking divisions, such as Emirates NBD Securities in the U.A.E. and SNB Capital in Saudi Arabia, and standalone brokers like Equiti, CFI Financial Markets, and Sarwa are also growing. The Middle East’s online trading industry is expected to reach $1 trillion in value by 2025, according to the Dubai Financial Services Authority.

As VI Markets has grown, it’s also expanded its services. For example, in 2016, the company established the Yasmeen Forum, which is exclusively for women wanting to get into trading. Knowing that women were equally keen to begin trading but noticing they were much shyer to open up during workshops, Al Ajmi designed the forum to offer tailored educational services and personal support. According to the CEO, VI Markets now has over 15,000 female traders thanks to this training program.

In 2021, it introduced “copy trading,” which allows followers—known as “copiers”—to replicate trades placed by other, often more experienced, traders—known as “signals”—in real time. To do this, traders first sign up with VI Markets and link their accounts to the copy trading app. As the signals trade and build a track record, their performance data, including monthly returns and profitability, can be monitored through the app. Copiers can then select which signals to follow. Once a copier connects to a signal, every transaction executed by the signal is automatically replicated in the accounts of their copiers, proportionally adjusting for factors like available funds and risk preference.

More recently, in May 2023, VI Markets and Axi Financial Services launched the Axi Select program, which provides advanced trading tools and educational content and offers funding to traders based on their “edge score,” which evaluates their skill, risk management, consistency, and experience.

Looking ahead to the next couple of years, while he continues to focus on delivering education, Al Ajmi says he also plans to invest in advanced trading technologies and platforms to offer solutions that enhance trading efficiency, security, and accessibility for clients. “I aspire to expand VI Markets to become one of the leading global companies in online trading and to inspire new investors as well,” he concludes.

By Jason Lasrado - 2024

VI Markets partners with One Financial Markets to empower the next generation through financial education

VI Markets is proud to provide investors with the opportunity to trade forex and CFDs on indices, commodities, energies, bonds, and futures.

Kuwait City, 7th June 2023: VI Markets partnered with One Financial Markets to offer investors in Kuwait and the wider Middle East a tailored online trading service. Through this partnership, VI Markets continues to expand access to global financial markets and promote responsible investing through education and community engagement.

Reflecting on this initiative, Talal Al Ajmi, CEO and founder of VI Markets, shared that the partnership also serves as a platform to empower children with early exposure to the world of financial literacy. “We believe kids are the face of the future, and introducing them to different types of investment concepts through hands-on learning helps them adapt to the real world,” Al Ajmi said.

Mr. Andrew Henderson, Regional Head – Middle East and Africa at One Financial Markets, praised the collaboration, emphasizing that today’s children are technologically advanced and eager to explore how the financial world works. “This activity gives them a true first experience of learning about financial systems in a safe and engaging way,” he noted.

The event featured the traditional “Handing over of the KidZania City Key” ceremony led by Steven Putzeys, Business Director at KidZania Kuwait, followed by a welcome dance by KidZania’s RightZKeepers, Urbano and Bekha. Guests then toured the city to witness the opening of the VI Markets Financial Trading Hub, which introduces children to basic financial concepts through interactive play.

Steven Putzeys stated, “At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life role-plays that positively impact society and the environment they live in. The activities in KidZania foster intellectual growth, enhance creativity, and build confidence through experiential learning.”

The KidZania city replicates real-world environments in a safe, 7,000 square meter facility. Children can choose from 78 engaging establishments and explore over 100 roles. Just like in real life, they can earn KidZos – KidZania’s currency – to spend or save. The city functions as a complete ecosystem, with buildings, streets, vehicles, and a working economy, featuring partner establishments that represent leading international and regional brands.

By Staff Writer- 2023

As technology continues to advance, Talal Al Ajmi, founder and CEO of VI Markets, explains how specific technological innovations including virtual reality (VR) and augmented reality (AR) are steadily transforming how we trade and interact with global markets.

The potential benefits of leveraging augmented reality (AR) and virtual reality (VR)

Trading is an ideal use case for these evolving paradigms, where rich data sets and complex products provide opportunities to leverage technology like augmented reality to support daily business operations, says Talal Al Ajmi.

He adds, “The benefits of using augmented reality (AR) and virtual reality (VR) include the ability to create new opportunities through leading-edge technology and the reduction of operating costs. Within trading, key use cases are driven by AR/VR’s ability to visualize data in an unconstrained environment, making it easier to recognize changes and patterns, collaborate with clients, and interact with counterparties in a dynamic and real-time system.”

These technologies can help reduce the costs of maintaining large-scale trading infrastructures by minimizing the need for multiple monitors, office space, complex wiring, and cooling systems.

As market data providers evolve, Al Ajmi emphasizes the importance of building application programming interfaces (APIs) tailored for AR/VR systems. “This includes providing value-added services that allow users to access research and market data seamlessly through these advanced environments,” he explains.

The transformation of forex trading through VR

According to Al Ajmi, VR will open new possibilities for traders by removing geographical barriers and improving collaboration between professionals across different markets. “The future of trading will be defined by immersive experiences where participants can access, analyze, and act on data in real time,” he says.

He believes this transformation will create an environment where traders can connect from anywhere, experience lifelike interactions, and engage with data through visualization tools that enhance analysis and decision-making.

Education and the future of learning through immersive technology

Education remains at the heart of VI Markets’ mission, and Al Ajmi sees VR as a powerful tool to improve financial learning. The metaverse concept, he explains, could revolutionize training and skills development, dramatically reducing the time needed to learn complex systems.

“AI-enabled digital coaches could assist employees in their training and provide real-time guidance,” he adds. “This would help create faster, more personalized learning experiences for professionals and clients alike.”

Enhancing customer interaction and brokerage services

Meta-reality will reshape how brokers interact with clients. Al Ajmi believes that as people grow comfortable with immersive digital environments, they will adapt quickly to new modes of communication and collaboration. “This shift will not be immediate, but over time, people will gain the skills required to interact effectively within these environments,” he notes.

Key advantages of trading in immersive environments

Al Ajmi highlights that trading in an immersive environment offers significant advantages, such as improved data visualization, real-time collaboration, and enhanced efficiency. “These technologies allow traders to recognize market patterns faster, cooperate with clients, and make data-driven decisions in a highly responsive system,” he explains.

The future of trading at VI Markets

Currently, VI Markets offers Copy Trading, a patented technology that automatically mirrors portfolio performance for individuals who want to connect their accounts with specific traders. This innovation simplifies portfolio management, allowing users to follow professional traders and replicate their strategies seamlessly.

Another distinctive feature is the One Connect app, which brings together all essential trading tools in one secure environment, ensuring smooth execution and access to advanced features.

Looking ahead, Al Ajmi envisions a future where users can optimize and enhance their investment activities through virtual tools and AI integration. “Artificial intelligence will help analyze vast amounts of financial data, identify trends, and reveal patterns that are difficult for humans to detect,” he says.

“At VI Markets, we are committed to integrating these innovations and building platforms that enhance efficiency, accessibility, and the overall trading experience,” he concludes.

ByJason Lasrado - 2022

Man vs Machine: How AI robots are taking over online trading

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and transformative force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving decision-making being the human brain. By relying on pattern recognition and sequential reasoning, traders communicated verbally to convey information and execute trades in the trading pit.

Over time, the role of the human floor trader has gradually declined as exchanges have gone digital, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Al Ajmi—a Kuwaiti entrepreneur and the founder of Version International Markets (VI Markets)—believes that algorithms and machine learning technologies are becoming the game-changers for the industry and will define the next era of trading.

Mimicking the human brain

Traditionally, human traders tracked stock prices and memorized them to identify patterns. AI can now perform this task efficiently while processing far more data, simulating how the human brain recognizes patterns when trading.

Algorithmic trading, one of the most widely used applications of AI in finance, uses complex mathematical models to make trading decisions on behalf of humans. The rules built into these models help determine optimal times to trade while minimizing price impact.

AI systems operate by analyzing massive datasets, identifying correlations, and learning from outcomes through machine learning. By mirroring the logic and patterns of human traders, AI and machine learning are making trading more accessible and data-driven while reducing reliance on human advisors.

“Many investors believe that most of the information available in the market is not enough for them to make confident decisions alone,” says Al Ajmi.

Retail investors are increasingly turning to AI-powered investment platforms that promise simplicity, accessibility, and cost efficiency.

Covid-19 impacts

Over the past few years, the online trading sector has moved rapidly toward AI and machine learning adoption. The COVID-19 pandemic accelerated this transformation, as investors began to fully realize the potential of these technologies.

“I believe COVID-19 has shown the world that technology is the real enabler,” says Al Ajmi. “It sped up the development process, where most trading could be done remotely without the need to be physically present. During this time, more people became interested in trading because technology made learning and participation easier.”

Emerging technologies

Looking at the next phase of innovation, Al Ajmi believes that copy trading technology will play a major role in shaping the next five years.

“Beginners will have the opportunity to learn from experienced traders and replicate their trades through an advanced app that allows people to meet, chat, discover, and learn,” he explains.

Copy trading allows investors to automatically follow and mirror the strategies of more experienced traders. According to Al Ajmi, this model opens the market to new participants and helps them build confidence through guided learning.

“This technology only requires a subscription or a small percentage fee, depending on the trader,” he adds. “Any trader who wishes to connect their account with another investor can now do so seamlessly. This will bring new investors into the market and influence trading trends.”

Al Ajmi notes that while markets are still influenced by human emotions, AI systems are evolving to interpret these behavioral patterns. “The market changes constantly—its liquidity, movement, and the strategies people use vary from one period to another. When there’s negative news, the trend shifts to selling; when it’s positive, people start buying. Programming and AI tools can now read and interpret these shifts,” he says.

“The use of AI and automated trading will be a leap forward for every trader, helping manage risk more efficiently.”

Filling the gap

Al Ajmi plans for VI Markets to enable users to link their accounts for automated trade replication and access advanced tools that analyze their strategies.

“VI Markets holds a significant market share in the Middle East, and our clients have been requesting this technology for some time. We aim to launch it soon to meet their needs,” he says.

With a strong regional presence, VI Markets provides investors in Kuwait with tailored online trading services in partnership with One Financial Markets, established in London in 2007. One Financial Markets is regulated by the U.K. Financial Conduct Authority (FCA) and maintains a global presence across the Middle East, Europe, South America, and Asia.

Coupling knowledge sharing with the power of AI

Believing strongly in the power of education, Al Ajmi emphasizes the importance of knowledge-sharing to unlock untapped opportunities for aspiring traders.

Through his growing online presence, he connects directly with regional followers to spread awareness about responsible investing.

“With online webinars, we’ve been able to deliver the same quality of content to audiences worldwide, overcoming physical barriers and reaching more people,” he says.

He adds that empowering new investors through financial education and AI technology is key to long-term success. “This technology will help reduce risks and improve decision-making, but understanding the fundamentals of trading remains essential before relying solely on AI,” he explains.

The VI Markets Training Academy provides accessible educational content that covers trading basics, market analysis tools, investor psychology, and risk management—helping clients make informed, confident decisions.

Shift in investment priorities

With the rise of robo-advisors, investment priorities are shifting toward more diverse and cost-efficient strategies. In the MENA region, exchange-traded funds (ETFs) are emerging as a major force in the investment landscape.

ETFs combine the flexibility of stock trading with the diversification benefits of mutual funds. Investors can track specific equities, commodities, or bonds through these funds, benefiting from broader exposure and lower costs.

The pandemic further boosted public interest in investing, and ETFs have become a popular entry point for new investors due to their simplicity and accessibility.

Robo-advisors and AI now play a central role in this shift by using ETFs to achieve broad diversification while managing risk and optimizing returns.

Looking ahead

Al Ajmi predicts a gradual transition toward automated trading, with a strong focus on copy trading and AI-assisted platforms.

“The next three to five years will center on platforms that enhance collaboration between traders and automate more processes through data-driven decision-making,” he says.

He reiterates that investor education must remain at the core of this evolution: “Before fully adopting AI in trading, it’s crucial to understand the basics. Knowledge empowers investors to make smarter decisions and use technology effectively.”

By ITP - 2021

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and prominent force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving the reasoning behind these trades being the human brain.

By utilising the pattern-spotting nature of the brain and sequential reasoning, traders communicated verbally to convey trading information, along with their intentions and acceptance of trades in the trading pit.

The services of the human floor trader are gradually becoming redundant as exchanges go virtual, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Talal Al Ajmi, a young Kuwaiti entrepreneur and CEO and founder of Version International Markets (VI Markets), believes that algorithms and machine learning technologies are the upcoming game-changers for the industry and the new norm for the future.

Mimicking the human brain 

Traditionally, human traders would track the prices of stock and try recalling them, creating memories to form a pattern. AI can do the same task efficiently and can include more data points, mimicking a vital part of the human brain activated when trading.

Algorithmic trading, the most widely used form of AI in the financial industry, uses complex and advanced mathematical models to make transaction decisions on behalf of humans. Rules built into this model attempt to determine the optimal time to trade, with the least repercussions on stock prices.

AI systems operate by crunching through data, trying to find correlations, and teaching themselves how to approximate future outcomes. The process of AI systems repeatedly going through data and trying to learn from it and find insights is known as machine learning.

In other words, by effectively mirroring the approach and patterns of human traders, AI and machine learning are making trading more accessible to a greater number of people by decreasing dependency on human advisors.

“Many investors believe that most of the information presented at the market is not enough for them to take the decision of investing alone,” says Al Ajmi.

Retail investors are now increasingly using AI-driven investment platforms, which are promising them secure and stable returns, citing their cost-effectiveness, simplicity and accessibility.

Covid-19 impacts 

Over the past few years, the online trading world has been gradually moving towards being dominated by AI and machine learning technologies.

Of late, the coronavirus pandemic has greatly accelerated this transition, with retail investors finally beginning to unlock the full potential of these tools.

“I believe that Covid-19 has shown the world that technology is the only saviour,” adds Al Ajmi.

“It accelerated the development phase, in which most trading is being done remotely and without the need to be physically available. During Covid times, a lot of people have become more interested in trading because technology has eased the process of learning and entering the markets.”

Emerging technologies 

In terms of new and emerging technologies, Al Ajmi believes that the focus for the next five years will be on copy trading technology.

“Beginners will have the opportunity to learn from experienced traders and copy their trades from a well-developed app, that will allow people to meet, chat, discover, learn and more.”

The premise of copy trading is as simple as its name suggests, involving tracking and duplicating trades executed by other investors in the financial markets. Copy trading, also known as mirror trading or social trading, allows investors to automatically copy the trades of high-profile investors.

Al Ajmi says this technology will just cost a subscription fee or percentage fee set by the trader.

“Today, any trader who wishes to link his account with any investor can do so through copy trading. This new technology will provide the market with new investors and change the market movement along with its trends.”

The Kuwaiti entrepreneur adds that, while markets are still being swayed by people’s emotions, AI technologies are slowly evolving to be able to interpret these sentiments and patterns.

“The market changes every period; its movement and the method of liquidity in it, and even the strategy of people who trade in the market varies from period to period.”

When there is negative news, he adds, we see the trend shift towards selling, while positive news moves people to buy.

“Programming and the use of technology is based on reading these emotions and interpreting them. I think the behaviour of human traders will be reduced, but their behaviour will remain visible in the market.

“The use of AI and automated trading in the market will be a leap for every trader, as it will manage the risk levels.”

Filling the gap 

Al Ajmi hopes to soon allow VI Markets users to link their accounts with others for programmed copying, in addition to providing tech tools that analyse a client’s position through a report that focuses on their successful strategies.

“VI Markets possesses a huge market share in the Middle East, and most of our clients are asking for this kind of technology and want it launched as soon as possible. So, this [copy trading] is what we will be offering during August, in order to serve our clients with excellence.”

With a well-established presence throughout the region, VI Markets provides investors in Kuwait a tailored online trading service, partnered with One Financial Markets, which was established in London in 2007.

One Financial Markets is regulated in the UK by the Financial Conduct Authority (FCA) and offers global reach with local expertise through its wholly owned and affiliated offices across the Middle East, Europe, South America and Central and Southeast Asia.

Coupling knowledge sharing with the power of AI 

As he believes that anything is possible through education, Al Ajmi is a strong advocate for the untapped opportunities that knowledge sharing can unlock.

Speaking directly to his regional followers via his growing online platforms, Al Ajmi believes this connection serves as an effective means of spreading essential information around online trading.

With terrible advice and bad-faith actors widespread on social media, Al Ajmi decided to bypass traditional marketing channels and speak directly to the public, in a bid to help people make more informed decisions with investing their money online.

“With online webinars, we were able to provide the same quality and content to a bigger audience, being located in different parts of the world without worrying about all the Covid-19 restrictions. This allowed us to reach a huge number of clients and provide them with everything they needed.”

Al Ajmi also believes that the key to success in the world of online trading lies in empowering novice investors in the Middle East through financial education coupled with utilising AI and machine learning technologies.

“This technology will solve many problems and reduce many risks, but I think that the right decision for anyone thinking of investing is to have an understanding of the basics of trading before turning to using this technology only. This will educate those interested in investing and give them a better chance to manage their risks.”

Besides downloadable desktop programmes and smartphone apps for trading, the VI Markets site has a training academy that outlines, in accessible language and textbook detail, concepts such as CFD trading, forex, analysis tools, investor types and, perhaps most importantly, trading psychology.

Shift in investment priorities 

With the rise in robo-advisers, investment priorities are shifting as well, placing great value on more diverse investments. In the MENA region, exchange-traded funds (ETFs) are slowly becoming a disruptive force, adding value to the investment sector.

An ETF is an exchange-listed investment fund that may consist stocks, bonds, commodities or other financial assets, which can be bought and sold throughout the trading day. Previously, investing in stock markets meant buying stocks, however ETFs combine the trading flexibility of a stock with the diversification and low costs of a mutual fund.

Investors can track a particular set of equities (stock ETFs); track the price of a commodity (commodity ETFs); invest in currencies (currency ETFs); or gain exposure to various types of bonds (bond ETFs), among other activities.

With the pandemic accelerating public interest in investing and ETFs offering exposure to a basket of stocks at a lower cost and reduced management fees, ETFs have elicited promising responses from first-time investors.

Robo-advisors and AI are playing a key role in this shift, given that they greatly invest in ETFs to give investors broad diversification with low underlying expenses. By selecting different types of ETFs, robo-advisors are helping manage investment returns and market risk with diversification.

Looking ahead

Al Ajmi predicts a slow and steady transition to automated trading, with the upcoming period being mainly focus on copy trade technology aided by human advisor expertise.

“The next three to five years will focus on using copy trading and utilising platforms that have more interactions between dealers in the markets. There will be more use for automated trading and growing reliance of programming on reading, implementing and dealing with data in the market.”

He reiterates that before fully integrating AI into the world of online trading, it is imperative to educate investors about the basics of trading and empowering them to be able to fully utilise these emerging technologies. 

By ITP - 2021

This story appeared in our August 2024 issue, featuring the Top 100 CEOs in the Middle East ranking, as well as the Global Meets Local list.

It’s a bright summer evening in the U.K. in June, and Talal Al Ajmi, Founder and CEO of online broker VI Markets, is sitting under a tree in a park, taking a break from planning for his graduation ceremony. Having just completed his master’s degree in financial services management from the University of Salford, the CEO is discussing his thoughts on the importance of educating investors.

“Education is the most important input for a successful trader,” says the Kuwait-based entrepreneur. As he speaks, he notes that VI Markets is simultaneously conducting seminars to teach people about financial markets in its Kuwait and Dubai offices, with training scheduled in Egypt and Al Ain the next day.

“Before we established VI Markets, the reputation of FX and assets trading was very bad in the region, but now we increase awareness and teach everyone about the market,” Al Ajmi explains. “Every day we’re doing seminars for a minimum of 200 and 250 people, and all the courses that we do are free.”

Founded more than 14 years ago, VI Markets is an online brokerage that enables its clients to trade financial assets and derivatives, including forex and CFDs on indices, commodities, energy, equities, and futures. The company today has offices in London, Dubai, Kuwait City, Cairo, and Muscat.

With an eye on future growth, the CEO believes that education is key to individuals making money from financial markets, which in turn helps him grow his business. Before VI Markets’ clients start funding their accounts, they undergo a 10-day seminar to learn the basics. They are then taught strategies like fundamental and technical analysis and risk management, tested, and given scores on various aspects of their trading skills. Once they’ve learned the right tools and skills, they begin to trade with real money.

But an introduction to financial education starts much younger. Last year, VI Markets partnered with KidZania in Kuwait to introduce investment and trading to kids through play. KidZania City in Kuwait City is a 7,000-square-meter scaled-down city, complete with vehicles, pavements, buildings, and workplaces that allow children to role-play real-life activities. The VI Markets Financial Trading Hub was inaugurated in KidZania City, Kuwait, in June 2023.

“At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life-like role-plays, to positively impact society and the environment they live in,” said Steven Putzeys, KidZania City Business Director, in a statement at the time.

Financial literacy is more than just a route to higher levels of financial inclusion. Not having an understanding of the compounding effects of interest rates while having increased access to borrowing can lead to decision-making that leaves individuals overburdened with debt. According to a report by the Kuwait Institute of Banking Studies, financial literacy in the GCC is better than the BRIC countries but still lags behind major economies such as Canada, France, Japan, the U.K., and the U.S.

Kuwait performs well relative to other GCC nations and the world, with large financial institutions contributing towards financial literacy, including through the National Bank of Kuwait’s Bankee program and Kuwait Finance House’s “Diraya” campaign.

“Financial literacy is the cornerstone of a secure financial future, encompassing essential skills like budgeting, investing, understanding credit, and retirement planning,” says Alok Kumar, Cofounder and CEO of fintech platform Zywa. “In the Middle East, rising household debt is a critical issue, particularly in the UAE, where many young adults are caught in debt traps. By equipping young people with financial education, we can empower them to make informed decisions and avoid these pitfalls.”

Al Ajmi himself first learned about online trading in 2003, while at university in Jordan studying IT. After graduating, he returned home to Kuwait and began his career managing a couple of small family businesses with his cousins and brothers. Eventually, he joined a brokerage company and became a branch manager. It was there he realized that there was a financial education gap and started offering free seminars for clients in the office.

However, he came up against some challenges. “To be honest, it was very hard to tell the owners and the board members in the brokerage that I wanted to invest in education and seminars. They had another marketing channel they focused on and that was it,” he remembers.

Al Ajmi established VI Markets in 2010 in Kuwait City by partnering with online trading broker One Financial Markets. In 2019, One Financial Markets was acquired by Axi Financial Services (UK) Ltd, and in 2023, Al Ajmi signed an exclusive partnership with Axi to represent them in MENA, providing investors in the Middle East with a tailored online trading service.

Axi Financial Services (UK) Ltd is registered in England and regulated by the U.K.’s Financial Conduct Authority. As an international broker, Axi has a presence in over 100 countries and is used by traders, trading businesses, banks, and financial organizations to execute transactions on the world’s financial markets.

As an “introducer” to AxiTrader Ltd, which trades under the name One Financial Markets, VI Markets is able to use Axi’s technology to enable its investors to trade forex and CFDs on indices, commodities, energies, equities and futures.

Combining his passion for education with technology, Al Ajmi has leveraged social media to attract clients in the Middle East by sharing his daily trades and educating followers on how to manage their portfolios. Today, he has over 120,000 followers on Instagram. He says the company had over 130,000 clients as of June 2024, with GCC-based clients contributing over 70% of revenues, while the other 30% comes from Egypt, Lebanon, Morocco, and Türkiye. Foreign exchange (Forex) trading contributes the most towards revenues followed by equities.

The global Forex market is the largest financial market in the world by trading volume. While under light regulatory oversight in most countries, the structure and operation of the market have been driven by commercial interests and participants’ needs. Forex trading for financial motives—such as investments in foreign-denominated securities—far exceeds the transaction volume related to international trade.

In the Middle East, the financial brokerage sector is a competitive space, with several international and regional brokers, as well as large financial institutions, competing for market share. Several banks in the region have broking divisions, such as Emirates NBD Securities in the U.A.E. and SNB Capital in Saudi Arabia, and standalone brokers like Equiti, CFI Financial Markets, and Sarwa are also growing. The Middle East’s online trading industry is expected to reach $1 trillion in value by 2025, according to the Dubai Financial Services Authority.

As VI Markets has grown, it’s also expanded its services. For example, in 2016, the company established the Yasmeen Forum, which is exclusively for women wanting to get into trading. Knowing that women were equally keen to begin trading but noticing they were much shyer to open up during workshops, Al Ajmi designed the forum to offer tailored educational services and personal support. According to the CEO, VI Markets now has over 15,000 female traders thanks to this training program.

In 2021, it introduced “copy trading,” which allows followers—known as “copiers”—to replicate trades placed by other, often more experienced, traders—known as “signals”—in real time. To do this, traders first sign up with VI Markets and link their accounts to the copy trading app. As the signals trade and build a track record, their performance data, including monthly returns and profitability, can be monitored through the app. Copiers can then select which signals to follow. Once a copier connects to a signal, every transaction executed by the signal is automatically replicated in the accounts of their copiers, proportionally adjusting for factors like available funds and risk preference.

More recently, in May 2023, VI Markets and Axi Financial Services launched the Axi Select program, which provides advanced trading tools and educational content and offers funding to traders based on their “edge score,” which evaluates their skill, risk management, consistency, and experience.

Looking ahead to the next couple of years, while he continues to focus on delivering education, Al Ajmi says he also plans to invest in advanced trading technologies and platforms to offer solutions that enhance trading efficiency, security, and accessibility for clients. “I aspire to expand VI Markets to become one of the leading global companies in online trading and to inspire new investors as well,” he concludes.

By Jason Lasrado - 2024

VI Markets partners with One Financial Markets to empower the next generation through financial education

VI Markets is proud to provide investors with the opportunity to trade forex and CFDs on indices, commodities, energies, bonds, and futures.

Kuwait City, 7th June 2023: VI Markets partnered with One Financial Markets to offer investors in Kuwait and the wider Middle East a tailored online trading service. Through this partnership, VI Markets continues to expand access to global financial markets and promote responsible investing through education and community engagement.

Reflecting on this initiative, Talal Al Ajmi, CEO and founder of VI Markets, shared that the partnership also serves as a platform to empower children with early exposure to the world of financial literacy. “We believe kids are the face of the future, and introducing them to different types of investment concepts through hands-on learning helps them adapt to the real world,” Al Ajmi said.

Mr. Andrew Henderson, Regional Head – Middle East and Africa at One Financial Markets, praised the collaboration, emphasizing that today’s children are technologically advanced and eager to explore how the financial world works. “This activity gives them a true first experience of learning about financial systems in a safe and engaging way,” he noted.

The event featured the traditional “Handing over of the KidZania City Key” ceremony led by Steven Putzeys, Business Director at KidZania Kuwait, followed by a welcome dance by KidZania’s RightZKeepers, Urbano and Bekha. Guests then toured the city to witness the opening of the VI Markets Financial Trading Hub, which introduces children to basic financial concepts through interactive play.

Steven Putzeys stated, “At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life role-plays that positively impact society and the environment they live in. The activities in KidZania foster intellectual growth, enhance creativity, and build confidence through experiential learning.”

The KidZania city replicates real-world environments in a safe, 7,000 square meter facility. Children can choose from 78 engaging establishments and explore over 100 roles. Just like in real life, they can earn KidZos – KidZania’s currency – to spend or save. The city functions as a complete ecosystem, with buildings, streets, vehicles, and a working economy, featuring partner establishments that represent leading international and regional brands.

By Staff Writer- 2023

As technology continues to advance, Talal Al Ajmi, founder and CEO of VI Markets, explains how specific technological innovations including virtual reality (VR) and augmented reality (AR) are steadily transforming how we trade and interact with global markets.

The potential benefits of leveraging augmented reality (AR) and virtual reality (VR)

Trading is an ideal use case for these evolving paradigms, where rich data sets and complex products provide opportunities to leverage technology like augmented reality to support daily business operations, says Talal Al Ajmi.

He adds, “The benefits of using augmented reality (AR) and virtual reality (VR) include the ability to create new opportunities through leading-edge technology and the reduction of operating costs. Within trading, key use cases are driven by AR/VR’s ability to visualize data in an unconstrained environment, making it easier to recognize changes and patterns, collaborate with clients, and interact with counterparties in a dynamic and real-time system.”

These technologies can help reduce the costs of maintaining large-scale trading infrastructures by minimizing the need for multiple monitors, office space, complex wiring, and cooling systems.

As market data providers evolve, Al Ajmi emphasizes the importance of building application programming interfaces (APIs) tailored for AR/VR systems. “This includes providing value-added services that allow users to access research and market data seamlessly through these advanced environments,” he explains.

The transformation of forex trading through VR

According to Al Ajmi, VR will open new possibilities for traders by removing geographical barriers and improving collaboration between professionals across different markets. “The future of trading will be defined by immersive experiences where participants can access, analyze, and act on data in real time,” he says.

He believes this transformation will create an environment where traders can connect from anywhere, experience lifelike interactions, and engage with data through visualization tools that enhance analysis and decision-making.

Education and the future of learning through immersive technology

Education remains at the heart of VI Markets’ mission, and Al Ajmi sees VR as a powerful tool to improve financial learning. The metaverse concept, he explains, could revolutionize training and skills development, dramatically reducing the time needed to learn complex systems.

“AI-enabled digital coaches could assist employees in their training and provide real-time guidance,” he adds. “This would help create faster, more personalized learning experiences for professionals and clients alike.”

Enhancing customer interaction and brokerage services

Meta-reality will reshape how brokers interact with clients. Al Ajmi believes that as people grow comfortable with immersive digital environments, they will adapt quickly to new modes of communication and collaboration. “This shift will not be immediate, but over time, people will gain the skills required to interact effectively within these environments,” he notes.

Key advantages of trading in immersive environments

Al Ajmi highlights that trading in an immersive environment offers significant advantages, such as improved data visualization, real-time collaboration, and enhanced efficiency. “These technologies allow traders to recognize market patterns faster, cooperate with clients, and make data-driven decisions in a highly responsive system,” he explains.

The future of trading at VI Markets

Currently, VI Markets offers Copy Trading, a patented technology that automatically mirrors portfolio performance for individuals who want to connect their accounts with specific traders. This innovation simplifies portfolio management, allowing users to follow professional traders and replicate their strategies seamlessly.

Another distinctive feature is the One Connect app, which brings together all essential trading tools in one secure environment, ensuring smooth execution and access to advanced features.

Looking ahead, Al Ajmi envisions a future where users can optimize and enhance their investment activities through virtual tools and AI integration. “Artificial intelligence will help analyze vast amounts of financial data, identify trends, and reveal patterns that are difficult for humans to detect,” he says.

“At VI Markets, we are committed to integrating these innovations and building platforms that enhance efficiency, accessibility, and the overall trading experience,” he concludes.

ByJason Lasrado - 2022

Man vs Machine: How AI robots are taking over online trading

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and transformative force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving decision-making being the human brain. By relying on pattern recognition and sequential reasoning, traders communicated verbally to convey information and execute trades in the trading pit.

Over time, the role of the human floor trader has gradually declined as exchanges have gone digital, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Al Ajmi—a Kuwaiti entrepreneur and the founder of Version International Markets (VI Markets)—believes that algorithms and machine learning technologies are becoming the game-changers for the industry and will define the next era of trading.

Mimicking the human brain

Traditionally, human traders tracked stock prices and memorized them to identify patterns. AI can now perform this task efficiently while processing far more data, simulating how the human brain recognizes patterns when trading.

Algorithmic trading, one of the most widely used applications of AI in finance, uses complex mathematical models to make trading decisions on behalf of humans. The rules built into these models help determine optimal times to trade while minimizing price impact.

AI systems operate by analyzing massive datasets, identifying correlations, and learning from outcomes through machine learning. By mirroring the logic and patterns of human traders, AI and machine learning are making trading more accessible and data-driven while reducing reliance on human advisors.

“Many investors believe that most of the information available in the market is not enough for them to make confident decisions alone,” says Al Ajmi.

Retail investors are increasingly turning to AI-powered investment platforms that promise simplicity, accessibility, and cost efficiency.

Covid-19 impacts

Over the past few years, the online trading sector has moved rapidly toward AI and machine learning adoption. The COVID-19 pandemic accelerated this transformation, as investors began to fully realize the potential of these technologies.

“I believe COVID-19 has shown the world that technology is the real enabler,” says Al Ajmi. “It sped up the development process, where most trading could be done remotely without the need to be physically present. During this time, more people became interested in trading because technology made learning and participation easier.”

Emerging technologies

Looking at the next phase of innovation, Al Ajmi believes that copy trading technology will play a major role in shaping the next five years.

“Beginners will have the opportunity to learn from experienced traders and replicate their trades through an advanced app that allows people to meet, chat, discover, and learn,” he explains.

Copy trading allows investors to automatically follow and mirror the strategies of more experienced traders. According to Al Ajmi, this model opens the market to new participants and helps them build confidence through guided learning.

“This technology only requires a subscription or a small percentage fee, depending on the trader,” he adds. “Any trader who wishes to connect their account with another investor can now do so seamlessly. This will bring new investors into the market and influence trading trends.”

Al Ajmi notes that while markets are still influenced by human emotions, AI systems are evolving to interpret these behavioral patterns. “The market changes constantly—its liquidity, movement, and the strategies people use vary from one period to another. When there’s negative news, the trend shifts to selling; when it’s positive, people start buying. Programming and AI tools can now read and interpret these shifts,” he says.

“The use of AI and automated trading will be a leap forward for every trader, helping manage risk more efficiently.”

Filling the gap

Al Ajmi plans for VI Markets to enable users to link their accounts for automated trade replication and access advanced tools that analyze their strategies.

“VI Markets holds a significant market share in the Middle East, and our clients have been requesting this technology for some time. We aim to launch it soon to meet their needs,” he says.

With a strong regional presence, VI Markets provides investors in Kuwait with tailored online trading services in partnership with One Financial Markets, established in London in 2007. One Financial Markets is regulated by the U.K. Financial Conduct Authority (FCA) and maintains a global presence across the Middle East, Europe, South America, and Asia.

Coupling knowledge sharing with the power of AI

Believing strongly in the power of education, Al Ajmi emphasizes the importance of knowledge-sharing to unlock untapped opportunities for aspiring traders.

Through his growing online presence, he connects directly with regional followers to spread awareness about responsible investing.

“With online webinars, we’ve been able to deliver the same quality of content to audiences worldwide, overcoming physical barriers and reaching more people,” he says.

He adds that empowering new investors through financial education and AI technology is key to long-term success. “This technology will help reduce risks and improve decision-making, but understanding the fundamentals of trading remains essential before relying solely on AI,” he explains.

The VI Markets Training Academy provides accessible educational content that covers trading basics, market analysis tools, investor psychology, and risk management—helping clients make informed, confident decisions.

Shift in investment priorities

With the rise of robo-advisors, investment priorities are shifting toward more diverse and cost-efficient strategies. In the MENA region, exchange-traded funds (ETFs) are emerging as a major force in the investment landscape.

ETFs combine the flexibility of stock trading with the diversification benefits of mutual funds. Investors can track specific equities, commodities, or bonds through these funds, benefiting from broader exposure and lower costs.

The pandemic further boosted public interest in investing, and ETFs have become a popular entry point for new investors due to their simplicity and accessibility.

Robo-advisors and AI now play a central role in this shift by using ETFs to achieve broad diversification while managing risk and optimizing returns.

Looking ahead

Al Ajmi predicts a gradual transition toward automated trading, with a strong focus on copy trading and AI-assisted platforms.

“The next three to five years will center on platforms that enhance collaboration between traders and automate more processes through data-driven decision-making,” he says.

He reiterates that investor education must remain at the core of this evolution: “Before fully adopting AI in trading, it’s crucial to understand the basics. Knowledge empowers investors to make smarter decisions and use technology effectively.”

By ITP - 2021

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and prominent force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving the reasoning behind these trades being the human brain.

By utilising the pattern-spotting nature of the brain and sequential reasoning, traders communicated verbally to convey trading information, along with their intentions and acceptance of trades in the trading pit.

The services of the human floor trader are gradually becoming redundant as exchanges go virtual, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Talal Al Ajmi, a young Kuwaiti entrepreneur and CEO and founder of Version International Markets (VI Markets), believes that algorithms and machine learning technologies are the upcoming game-changers for the industry and the new norm for the future.

Mimicking the human brain 

Traditionally, human traders would track the prices of stock and try recalling them, creating memories to form a pattern. AI can do the same task efficiently and can include more data points, mimicking a vital part of the human brain activated when trading.

Algorithmic trading, the most widely used form of AI in the financial industry, uses complex and advanced mathematical models to make transaction decisions on behalf of humans. Rules built into this model attempt to determine the optimal time to trade, with the least repercussions on stock prices.

AI systems operate by crunching through data, trying to find correlations, and teaching themselves how to approximate future outcomes. The process of AI systems repeatedly going through data and trying to learn from it and find insights is known as machine learning.

In other words, by effectively mirroring the approach and patterns of human traders, AI and machine learning are making trading more accessible to a greater number of people by decreasing dependency on human advisors.

“Many investors believe that most of the information presented at the market is not enough for them to take the decision of investing alone,” says Al Ajmi.

Retail investors are now increasingly using AI-driven investment platforms, which are promising them secure and stable returns, citing their cost-effectiveness, simplicity and accessibility.

Covid-19 impacts 

Over the past few years, the online trading world has been gradually moving towards being dominated by AI and machine learning technologies.

Of late, the coronavirus pandemic has greatly accelerated this transition, with retail investors finally beginning to unlock the full potential of these tools.

“I believe that Covid-19 has shown the world that technology is the only saviour,” adds Al Ajmi.

“It accelerated the development phase, in which most trading is being done remotely and without the need to be physically available. During Covid times, a lot of people have become more interested in trading because technology has eased the process of learning and entering the markets.”

Emerging technologies 

In terms of new and emerging technologies, Al Ajmi believes that the focus for the next five years will be on copy trading technology.

“Beginners will have the opportunity to learn from experienced traders and copy their trades from a well-developed app, that will allow people to meet, chat, discover, learn and more.”

The premise of copy trading is as simple as its name suggests, involving tracking and duplicating trades executed by other investors in the financial markets. Copy trading, also known as mirror trading or social trading, allows investors to automatically copy the trades of high-profile investors.

Al Ajmi says this technology will just cost a subscription fee or percentage fee set by the trader.

“Today, any trader who wishes to link his account with any investor can do so through copy trading. This new technology will provide the market with new investors and change the market movement along with its trends.”

The Kuwaiti entrepreneur adds that, while markets are still being swayed by people’s emotions, AI technologies are slowly evolving to be able to interpret these sentiments and patterns.

“The market changes every period; its movement and the method of liquidity in it, and even the strategy of people who trade in the market varies from period to period.”

When there is negative news, he adds, we see the trend shift towards selling, while positive news moves people to buy.

“Programming and the use of technology is based on reading these emotions and interpreting them. I think the behaviour of human traders will be reduced, but their behaviour will remain visible in the market.

“The use of AI and automated trading in the market will be a leap for every trader, as it will manage the risk levels.”

Filling the gap 

Al Ajmi hopes to soon allow VI Markets users to link their accounts with others for programmed copying, in addition to providing tech tools that analyse a client’s position through a report that focuses on their successful strategies.

“VI Markets possesses a huge market share in the Middle East, and most of our clients are asking for this kind of technology and want it launched as soon as possible. So, this [copy trading] is what we will be offering during August, in order to serve our clients with excellence.”

With a well-established presence throughout the region, VI Markets provides investors in Kuwait a tailored online trading service, partnered with One Financial Markets, which was established in London in 2007.

One Financial Markets is regulated in the UK by the Financial Conduct Authority (FCA) and offers global reach with local expertise through its wholly owned and affiliated offices across the Middle East, Europe, South America and Central and Southeast Asia.

Coupling knowledge sharing with the power of AI 

As he believes that anything is possible through education, Al Ajmi is a strong advocate for the untapped opportunities that knowledge sharing can unlock.

Speaking directly to his regional followers via his growing online platforms, Al Ajmi believes this connection serves as an effective means of spreading essential information around online trading.

With terrible advice and bad-faith actors widespread on social media, Al Ajmi decided to bypass traditional marketing channels and speak directly to the public, in a bid to help people make more informed decisions with investing their money online.

“With online webinars, we were able to provide the same quality and content to a bigger audience, being located in different parts of the world without worrying about all the Covid-19 restrictions. This allowed us to reach a huge number of clients and provide them with everything they needed.”

Al Ajmi also believes that the key to success in the world of online trading lies in empowering novice investors in the Middle East through financial education coupled with utilising AI and machine learning technologies.

“This technology will solve many problems and reduce many risks, but I think that the right decision for anyone thinking of investing is to have an understanding of the basics of trading before turning to using this technology only. This will educate those interested in investing and give them a better chance to manage their risks.”

Besides downloadable desktop programmes and smartphone apps for trading, the VI Markets site has a training academy that outlines, in accessible language and textbook detail, concepts such as CFD trading, forex, analysis tools, investor types and, perhaps most importantly, trading psychology.

Shift in investment priorities 

With the rise in robo-advisers, investment priorities are shifting as well, placing great value on more diverse investments. In the MENA region, exchange-traded funds (ETFs) are slowly becoming a disruptive force, adding value to the investment sector.

An ETF is an exchange-listed investment fund that may consist stocks, bonds, commodities or other financial assets, which can be bought and sold throughout the trading day. Previously, investing in stock markets meant buying stocks, however ETFs combine the trading flexibility of a stock with the diversification and low costs of a mutual fund.

Investors can track a particular set of equities (stock ETFs); track the price of a commodity (commodity ETFs); invest in currencies (currency ETFs); or gain exposure to various types of bonds (bond ETFs), among other activities.

With the pandemic accelerating public interest in investing and ETFs offering exposure to a basket of stocks at a lower cost and reduced management fees, ETFs have elicited promising responses from first-time investors.

Robo-advisors and AI are playing a key role in this shift, given that they greatly invest in ETFs to give investors broad diversification with low underlying expenses. By selecting different types of ETFs, robo-advisors are helping manage investment returns and market risk with diversification.

Looking ahead

Al Ajmi predicts a slow and steady transition to automated trading, with the upcoming period being mainly focus on copy trade technology aided by human advisor expertise.

“The next three to five years will focus on using copy trading and utilising platforms that have more interactions between dealers in the markets. There will be more use for automated trading and growing reliance of programming on reading, implementing and dealing with data in the market.”

He reiterates that before fully integrating AI into the world of online trading, it is imperative to educate investors about the basics of trading and empowering them to be able to fully utilise these emerging technologies. 

By ITP - 2021

This story appeared in our August 2024 issue, featuring the Top 100 CEOs in the Middle East ranking, as well as the Global Meets Local list.

It’s a bright summer evening in the U.K. in June, and Talal Al Ajmi, Founder and CEO of online broker VI Markets, is sitting under a tree in a park, taking a break from planning for his graduation ceremony. Having just completed his master’s degree in financial services management from the University of Salford, the CEO is discussing his thoughts on the importance of educating investors.

“Education is the most important input for a successful trader,” says the Kuwait-based entrepreneur. As he speaks, he notes that VI Markets is simultaneously conducting seminars to teach people about financial markets in its Kuwait and Dubai offices, with training scheduled in Egypt and Al Ain the next day.

“Before we established VI Markets, the reputation of FX and assets trading was very bad in the region, but now we increase awareness and teach everyone about the market,” Al Ajmi explains. “Every day we’re doing seminars for a minimum of 200 and 250 people, and all the courses that we do are free.”

Founded more than 14 years ago, VI Markets is an online brokerage that enables its clients to trade financial assets and derivatives, including forex and CFDs on indices, commodities, energy, equities, and futures. The company today has offices in London, Dubai, Kuwait City, Cairo, and Muscat.

With an eye on future growth, the CEO believes that education is key to individuals making money from financial markets, which in turn helps him grow his business. Before VI Markets’ clients start funding their accounts, they undergo a 10-day seminar to learn the basics. They are then taught strategies like fundamental and technical analysis and risk management, tested, and given scores on various aspects of their trading skills. Once they’ve learned the right tools and skills, they begin to trade with real money.

But an introduction to financial education starts much younger. Last year, VI Markets partnered with KidZania in Kuwait to introduce investment and trading to kids through play. KidZania City in Kuwait City is a 7,000-square-meter scaled-down city, complete with vehicles, pavements, buildings, and workplaces that allow children to role-play real-life activities. The VI Markets Financial Trading Hub was inaugurated in KidZania City, Kuwait, in June 2023.

“At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life-like role-plays, to positively impact society and the environment they live in,” said Steven Putzeys, KidZania City Business Director, in a statement at the time.

Financial literacy is more than just a route to higher levels of financial inclusion. Not having an understanding of the compounding effects of interest rates while having increased access to borrowing can lead to decision-making that leaves individuals overburdened with debt. According to a report by the Kuwait Institute of Banking Studies, financial literacy in the GCC is better than the BRIC countries but still lags behind major economies such as Canada, France, Japan, the U.K., and the U.S.

Kuwait performs well relative to other GCC nations and the world, with large financial institutions contributing towards financial literacy, including through the National Bank of Kuwait’s Bankee program and Kuwait Finance House’s “Diraya” campaign.

“Financial literacy is the cornerstone of a secure financial future, encompassing essential skills like budgeting, investing, understanding credit, and retirement planning,” says Alok Kumar, Cofounder and CEO of fintech platform Zywa. “In the Middle East, rising household debt is a critical issue, particularly in the UAE, where many young adults are caught in debt traps. By equipping young people with financial education, we can empower them to make informed decisions and avoid these pitfalls.”

Al Ajmi himself first learned about online trading in 2003, while at university in Jordan studying IT. After graduating, he returned home to Kuwait and began his career managing a couple of small family businesses with his cousins and brothers. Eventually, he joined a brokerage company and became a branch manager. It was there he realized that there was a financial education gap and started offering free seminars for clients in the office.

However, he came up against some challenges. “To be honest, it was very hard to tell the owners and the board members in the brokerage that I wanted to invest in education and seminars. They had another marketing channel they focused on and that was it,” he remembers.

Al Ajmi established VI Markets in 2010 in Kuwait City by partnering with online trading broker One Financial Markets. In 2019, One Financial Markets was acquired by Axi Financial Services (UK) Ltd, and in 2023, Al Ajmi signed an exclusive partnership with Axi to represent them in MENA, providing investors in the Middle East with a tailored online trading service.

Axi Financial Services (UK) Ltd is registered in England and regulated by the U.K.’s Financial Conduct Authority. As an international broker, Axi has a presence in over 100 countries and is used by traders, trading businesses, banks, and financial organizations to execute transactions on the world’s financial markets.

As an “introducer” to AxiTrader Ltd, which trades under the name One Financial Markets, VI Markets is able to use Axi’s technology to enable its investors to trade forex and CFDs on indices, commodities, energies, equities and futures.

Combining his passion for education with technology, Al Ajmi has leveraged social media to attract clients in the Middle East by sharing his daily trades and educating followers on how to manage their portfolios. Today, he has over 120,000 followers on Instagram. He says the company had over 130,000 clients as of June 2024, with GCC-based clients contributing over 70% of revenues, while the other 30% comes from Egypt, Lebanon, Morocco, and Türkiye. Foreign exchange (Forex) trading contributes the most towards revenues followed by equities.

The global Forex market is the largest financial market in the world by trading volume. While under light regulatory oversight in most countries, the structure and operation of the market have been driven by commercial interests and participants’ needs. Forex trading for financial motives—such as investments in foreign-denominated securities—far exceeds the transaction volume related to international trade.

In the Middle East, the financial brokerage sector is a competitive space, with several international and regional brokers, as well as large financial institutions, competing for market share. Several banks in the region have broking divisions, such as Emirates NBD Securities in the U.A.E. and SNB Capital in Saudi Arabia, and standalone brokers like Equiti, CFI Financial Markets, and Sarwa are also growing. The Middle East’s online trading industry is expected to reach $1 trillion in value by 2025, according to the Dubai Financial Services Authority.

As VI Markets has grown, it’s also expanded its services. For example, in 2016, the company established the Yasmeen Forum, which is exclusively for women wanting to get into trading. Knowing that women were equally keen to begin trading but noticing they were much shyer to open up during workshops, Al Ajmi designed the forum to offer tailored educational services and personal support. According to the CEO, VI Markets now has over 15,000 female traders thanks to this training program.

In 2021, it introduced “copy trading,” which allows followers—known as “copiers”—to replicate trades placed by other, often more experienced, traders—known as “signals”—in real time. To do this, traders first sign up with VI Markets and link their accounts to the copy trading app. As the signals trade and build a track record, their performance data, including monthly returns and profitability, can be monitored through the app. Copiers can then select which signals to follow. Once a copier connects to a signal, every transaction executed by the signal is automatically replicated in the accounts of their copiers, proportionally adjusting for factors like available funds and risk preference.

More recently, in May 2023, VI Markets and Axi Financial Services launched the Axi Select program, which provides advanced trading tools and educational content and offers funding to traders based on their “edge score,” which evaluates their skill, risk management, consistency, and experience.

Looking ahead to the next couple of years, while he continues to focus on delivering education, Al Ajmi says he also plans to invest in advanced trading technologies and platforms to offer solutions that enhance trading efficiency, security, and accessibility for clients. “I aspire to expand VI Markets to become one of the leading global companies in online trading and to inspire new investors as well,” he concludes.

By Jason Lasrado - 2024

VI Markets partners with One Financial Markets to empower the next generation through financial education

VI Markets is proud to provide investors with the opportunity to trade forex and CFDs on indices, commodities, energies, bonds, and futures.

Kuwait City, 7th June 2023: VI Markets partnered with One Financial Markets to offer investors in Kuwait and the wider Middle East a tailored online trading service. Through this partnership, VI Markets continues to expand access to global financial markets and promote responsible investing through education and community engagement.

Reflecting on this initiative, Talal Al Ajmi, CEO and founder of VI Markets, shared that the partnership also serves as a platform to empower children with early exposure to the world of financial literacy. “We believe kids are the face of the future, and introducing them to different types of investment concepts through hands-on learning helps them adapt to the real world,” Al Ajmi said.

Mr. Andrew Henderson, Regional Head – Middle East and Africa at One Financial Markets, praised the collaboration, emphasizing that today’s children are technologically advanced and eager to explore how the financial world works. “This activity gives them a true first experience of learning about financial systems in a safe and engaging way,” he noted.

The event featured the traditional “Handing over of the KidZania City Key” ceremony led by Steven Putzeys, Business Director at KidZania Kuwait, followed by a welcome dance by KidZania’s RightZKeepers, Urbano and Bekha. Guests then toured the city to witness the opening of the VI Markets Financial Trading Hub, which introduces children to basic financial concepts through interactive play.

Steven Putzeys stated, “At KidZania, it is our constant endeavor to partner with brands that provide opportunities for children to learn through unique, real-life role-plays that positively impact society and the environment they live in. The activities in KidZania foster intellectual growth, enhance creativity, and build confidence through experiential learning.”

The KidZania city replicates real-world environments in a safe, 7,000 square meter facility. Children can choose from 78 engaging establishments and explore over 100 roles. Just like in real life, they can earn KidZos – KidZania’s currency – to spend or save. The city functions as a complete ecosystem, with buildings, streets, vehicles, and a working economy, featuring partner establishments that represent leading international and regional brands.

By Staff Writer- 2023

As technology continues to advance, Talal Al Ajmi, founder and CEO of VI Markets, explains how specific technological innovations including virtual reality (VR) and augmented reality (AR) are steadily transforming how we trade and interact with global markets.

The potential benefits of leveraging augmented reality (AR) and virtual reality (VR)

Trading is an ideal use case for these evolving paradigms, where rich data sets and complex products provide opportunities to leverage technology like augmented reality to support daily business operations, says Talal Al Ajmi.

He adds, “The benefits of using augmented reality (AR) and virtual reality (VR) include the ability to create new opportunities through leading-edge technology and the reduction of operating costs. Within trading, key use cases are driven by AR/VR’s ability to visualize data in an unconstrained environment, making it easier to recognize changes and patterns, collaborate with clients, and interact with counterparties in a dynamic and real-time system.”

These technologies can help reduce the costs of maintaining large-scale trading infrastructures by minimizing the need for multiple monitors, office space, complex wiring, and cooling systems.

As market data providers evolve, Al Ajmi emphasizes the importance of building application programming interfaces (APIs) tailored for AR/VR systems. “This includes providing value-added services that allow users to access research and market data seamlessly through these advanced environments,” he explains.

The transformation of forex trading through VR

According to Al Ajmi, VR will open new possibilities for traders by removing geographical barriers and improving collaboration between professionals across different markets. “The future of trading will be defined by immersive experiences where participants can access, analyze, and act on data in real time,” he says.

He believes this transformation will create an environment where traders can connect from anywhere, experience lifelike interactions, and engage with data through visualization tools that enhance analysis and decision-making.

Education and the future of learning through immersive technology

Education remains at the heart of VI Markets’ mission, and Al Ajmi sees VR as a powerful tool to improve financial learning. The metaverse concept, he explains, could revolutionize training and skills development, dramatically reducing the time needed to learn complex systems.

“AI-enabled digital coaches could assist employees in their training and provide real-time guidance,” he adds. “This would help create faster, more personalized learning experiences for professionals and clients alike.”

Enhancing customer interaction and brokerage services

Meta-reality will reshape how brokers interact with clients. Al Ajmi believes that as people grow comfortable with immersive digital environments, they will adapt quickly to new modes of communication and collaboration. “This shift will not be immediate, but over time, people will gain the skills required to interact effectively within these environments,” he notes.

Key advantages of trading in immersive environments

Al Ajmi highlights that trading in an immersive environment offers significant advantages, such as improved data visualization, real-time collaboration, and enhanced efficiency. “These technologies allow traders to recognize market patterns faster, cooperate with clients, and make data-driven decisions in a highly responsive system,” he explains.

The future of trading at VI Markets

Currently, VI Markets offers Copy Trading, a patented technology that automatically mirrors portfolio performance for individuals who want to connect their accounts with specific traders. This innovation simplifies portfolio management, allowing users to follow professional traders and replicate their strategies seamlessly.

Another distinctive feature is the One Connect app, which brings together all essential trading tools in one secure environment, ensuring smooth execution and access to advanced features.

Looking ahead, Al Ajmi envisions a future where users can optimize and enhance their investment activities through virtual tools and AI integration. “Artificial intelligence will help analyze vast amounts of financial data, identify trends, and reveal patterns that are difficult for humans to detect,” he says.

“At VI Markets, we are committed to integrating these innovations and building platforms that enhance efficiency, accessibility, and the overall trading experience,” he concludes.

ByJason Lasrado - 2022

Man vs Machine: How AI robots are taking over online trading

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and transformative force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving decision-making being the human brain. By relying on pattern recognition and sequential reasoning, traders communicated verbally to convey information and execute trades in the trading pit.

Over time, the role of the human floor trader has gradually declined as exchanges have gone digital, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Al Ajmi—a Kuwaiti entrepreneur and the founder of Version International Markets (VI Markets)—believes that algorithms and machine learning technologies are becoming the game-changers for the industry and will define the next era of trading.

Mimicking the human brain

Traditionally, human traders tracked stock prices and memorized them to identify patterns. AI can now perform this task efficiently while processing far more data, simulating how the human brain recognizes patterns when trading.

Algorithmic trading, one of the most widely used applications of AI in finance, uses complex mathematical models to make trading decisions on behalf of humans. The rules built into these models help determine optimal times to trade while minimizing price impact.

AI systems operate by analyzing massive datasets, identifying correlations, and learning from outcomes through machine learning. By mirroring the logic and patterns of human traders, AI and machine learning are making trading more accessible and data-driven while reducing reliance on human advisors.

“Many investors believe that most of the information available in the market is not enough for them to make confident decisions alone,” says Al Ajmi.

Retail investors are increasingly turning to AI-powered investment platforms that promise simplicity, accessibility, and cost efficiency.

Covid-19 impacts

Over the past few years, the online trading sector has moved rapidly toward AI and machine learning adoption. The COVID-19 pandemic accelerated this transformation, as investors began to fully realize the potential of these technologies.

“I believe COVID-19 has shown the world that technology is the real enabler,” says Al Ajmi. “It sped up the development process, where most trading could be done remotely without the need to be physically present. During this time, more people became interested in trading because technology made learning and participation easier.”

Emerging technologies

Looking at the next phase of innovation, Al Ajmi believes that copy trading technology will play a major role in shaping the next five years.

“Beginners will have the opportunity to learn from experienced traders and replicate their trades through an advanced app that allows people to meet, chat, discover, and learn,” he explains.

Copy trading allows investors to automatically follow and mirror the strategies of more experienced traders. According to Al Ajmi, this model opens the market to new participants and helps them build confidence through guided learning.

“This technology only requires a subscription or a small percentage fee, depending on the trader,” he adds. “Any trader who wishes to connect their account with another investor can now do so seamlessly. This will bring new investors into the market and influence trading trends.”

Al Ajmi notes that while markets are still influenced by human emotions, AI systems are evolving to interpret these behavioral patterns. “The market changes constantly—its liquidity, movement, and the strategies people use vary from one period to another. When there’s negative news, the trend shifts to selling; when it’s positive, people start buying. Programming and AI tools can now read and interpret these shifts,” he says.

“The use of AI and automated trading will be a leap forward for every trader, helping manage risk more efficiently.”

Filling the gap

Al Ajmi plans for VI Markets to enable users to link their accounts for automated trade replication and access advanced tools that analyze their strategies.

“VI Markets holds a significant market share in the Middle East, and our clients have been requesting this technology for some time. We aim to launch it soon to meet their needs,” he says.

With a strong regional presence, VI Markets provides investors in Kuwait with tailored online trading services in partnership with One Financial Markets, established in London in 2007. One Financial Markets is regulated by the U.K. Financial Conduct Authority (FCA) and maintains a global presence across the Middle East, Europe, South America, and Asia.

Coupling knowledge sharing with the power of AI

Believing strongly in the power of education, Al Ajmi emphasizes the importance of knowledge-sharing to unlock untapped opportunities for aspiring traders.

Through his growing online presence, he connects directly with regional followers to spread awareness about responsible investing.

“With online webinars, we’ve been able to deliver the same quality of content to audiences worldwide, overcoming physical barriers and reaching more people,” he says.

He adds that empowering new investors through financial education and AI technology is key to long-term success. “This technology will help reduce risks and improve decision-making, but understanding the fundamentals of trading remains essential before relying solely on AI,” he explains.

The VI Markets Training Academy provides accessible educational content that covers trading basics, market analysis tools, investor psychology, and risk management—helping clients make informed, confident decisions.

Shift in investment priorities

With the rise of robo-advisors, investment priorities are shifting toward more diverse and cost-efficient strategies. In the MENA region, exchange-traded funds (ETFs) are emerging as a major force in the investment landscape.

ETFs combine the flexibility of stock trading with the diversification benefits of mutual funds. Investors can track specific equities, commodities, or bonds through these funds, benefiting from broader exposure and lower costs.

The pandemic further boosted public interest in investing, and ETFs have become a popular entry point for new investors due to their simplicity and accessibility.

Robo-advisors and AI now play a central role in this shift by using ETFs to achieve broad diversification while managing risk and optimizing returns.

Looking ahead

Al Ajmi predicts a gradual transition toward automated trading, with a strong focus on copy trading and AI-assisted platforms.

“The next three to five years will center on platforms that enhance collaboration between traders and automate more processes through data-driven decision-making,” he says.

He reiterates that investor education must remain at the core of this evolution: “Before fully adopting AI in trading, it’s crucial to understand the basics. Knowledge empowers investors to make smarter decisions and use technology effectively.”

By ITP - 2021

Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and prominent force in the online trading world.

When stock trading first emerged, transactions were carried out on active trading floors filled with brokers and traders, with the key tool driving the reasoning behind these trades being the human brain.

By utilising the pattern-spotting nature of the brain and sequential reasoning, traders communicated verbally to convey trading information, along with their intentions and acceptance of trades in the trading pit.

The services of the human floor trader are gradually becoming redundant as exchanges go virtual, paving the way for individual investors to participate in markets on an equal footing for the first time.

As online trading continues to evolve, Talal Al Ajmi, a young Kuwaiti entrepreneur and CEO and founder of Version International Markets (VI Markets), believes that algorithms and machine learning technologies are the upcoming game-changers for the industry and the new norm for the future.

Mimicking the human brain 

Traditionally, human traders would track the prices of stock and try recalling them, creating memories to form a pattern. AI can do the same task efficiently and can include more data points, mimicking a vital part of the human brain activated when trading.

Algorithmic trading, the most widely used form of AI in the financial industry, uses complex and advanced mathematical models to make transaction decisions on behalf of humans. Rules built into this model attempt to determine the optimal time to trade, with the least repercussions on stock prices.

AI systems operate by crunching through data, trying to find correlations, and teaching themselves how to approximate future outcomes. The process of AI systems repeatedly going through data and trying to learn from it and find insights is known as machine learning.

In other words, by effectively mirroring the approach and patterns of human traders, AI and machine learning are making trading more accessible to a greater number of people by decreasing dependency on human advisors.

“Many investors believe that most of the information presented at the market is not enough for them to take the decision of investing alone,” says Al Ajmi.

Retail investors are now increasingly using AI-driven investment platforms, which are promising them secure and stable returns, citing their cost-effectiveness, simplicity and accessibility.

Covid-19 impacts 

Over the past few years, the online trading world has been gradually moving towards being dominated by AI and machine learning technologies.

Of late, the coronavirus pandemic has greatly accelerated this transition, with retail investors finally beginning to unlock the full potential of these tools.

“I believe that Covid-19 has shown the world that technology is the only saviour,” adds Al Ajmi.

“It accelerated the development phase, in which most trading is being done remotely and without the need to be physically available. During Covid times, a lot of people have become more interested in trading because technology has eased the process of learning and entering the markets.”

Emerging technologies 

In terms of new and emerging technologies, Al Ajmi believes that the focus for the next five years will be on copy trading technology.

“Beginners will have the opportunity to learn from experienced traders and copy their trades from a well-developed app, that will allow people to meet, chat, discover, learn and more.”

The premise of copy trading is as simple as its name suggests, involving tracking and duplicating trades executed by other investors in the financial markets. Copy trading, also known as mirror trading or social trading, allows investors to automatically copy the trades of high-profile investors.

Al Ajmi says this technology will just cost a subscription fee or percentage fee set by the trader.

“Today, any trader who wishes to link his account with any investor can do so through copy trading. This new technology will provide the market with new investors and change the market movement along with its trends.”

The Kuwaiti entrepreneur adds that, while markets are still being swayed by people’s emotions, AI technologies are slowly evolving to be able to interpret these sentiments and patterns.

“The market changes every period; its movement and the method of liquidity in it, and even the strategy of people who trade in the market varies from period to period.”

When there is negative news, he adds, we see the trend shift towards selling, while positive news moves people to buy.

“Programming and the use of technology is based on reading these emotions and interpreting them. I think the behaviour of human traders will be reduced, but their behaviour will remain visible in the market.

“The use of AI and automated trading in the market will be a leap for every trader, as it will manage the risk levels.”

Filling the gap 

Al Ajmi hopes to soon allow VI Markets users to link their accounts with others for programmed copying, in addition to providing tech tools that analyse a client’s position through a report that focuses on their successful strategies.

“VI Markets possesses a huge market share in the Middle East, and most of our clients are asking for this kind of technology and want it launched as soon as possible. So, this [copy trading] is what we will be offering during August, in order to serve our clients with excellence.”

With a well-established presence throughout the region, VI Markets provides investors in Kuwait a tailored online trading service, partnered with One Financial Markets, which was established in London in 2007.

One Financial Markets is regulated in the UK by the Financial Conduct Authority (FCA) and offers global reach with local expertise through its wholly owned and affiliated offices across the Middle East, Europe, South America and Central and Southeast Asia.

Coupling knowledge sharing with the power of AI 

As he believes that anything is possible through education, Al Ajmi is a strong advocate for the untapped opportunities that knowledge sharing can unlock.

Speaking directly to his regional followers via his growing online platforms, Al Ajmi believes this connection serves as an effective means of spreading essential information around online trading.

With terrible advice and bad-faith actors widespread on social media, Al Ajmi decided to bypass traditional marketing channels and speak directly to the public, in a bid to help people make more informed decisions with investing their money online.

“With online webinars, we were able to provide the same quality and content to a bigger audience, being located in different parts of the world without worrying about all the Covid-19 restrictions. This allowed us to reach a huge number of clients and provide them with everything they needed.”

Al Ajmi also believes that the key to success in the world of online trading lies in empowering novice investors in the Middle East through financial education coupled with utilising AI and machine learning technologies.

“This technology will solve many problems and reduce many risks, but I think that the right decision for anyone thinking of investing is to have an understanding of the basics of trading before turning to using this technology only. This will educate those interested in investing and give them a better chance to manage their risks.”

Besides downloadable desktop programmes and smartphone apps for trading, the VI Markets site has a training academy that outlines, in accessible language and textbook detail, concepts such as CFD trading, forex, analysis tools, investor types and, perhaps most importantly, trading psychology.

Shift in investment priorities 

With the rise in robo-advisers, investment priorities are shifting as well, placing great value on more diverse investments. In the MENA region, exchange-traded funds (ETFs) are slowly becoming a disruptive force, adding value to the investment sector.

An ETF is an exchange-listed investment fund that may consist stocks, bonds, commodities or other financial assets, which can be bought and sold throughout the trading day. Previously, investing in stock markets meant buying stocks, however ETFs combine the trading flexibility of a stock with the diversification and low costs of a mutual fund.

Investors can track a particular set of equities (stock ETFs); track the price of a commodity (commodity ETFs); invest in currencies (currency ETFs); or gain exposure to various types of bonds (bond ETFs), among other activities.

With the pandemic accelerating public interest in investing and ETFs offering exposure to a basket of stocks at a lower cost and reduced management fees, ETFs have elicited promising responses from first-time investors.

Robo-advisors and AI are playing a key role in this shift, given that they greatly invest in ETFs to give investors broad diversification with low underlying expenses. By selecting different types of ETFs, robo-advisors are helping manage investment returns and market risk with diversification.

Looking ahead

Al Ajmi predicts a slow and steady transition to automated trading, with the upcoming period being mainly focus on copy trade technology aided by human advisor expertise.

“The next three to five years will focus on using copy trading and utilising platforms that have more interactions between dealers in the markets. There will be more use for automated trading and growing reliance of programming on reading, implementing and dealing with data in the market.”

He reiterates that before fully integrating AI into the world of online trading, it is imperative to educate investors about the basics of trading and empowering them to be able to fully utilise these emerging technologies. 

By ITP - 2021