Some high-volume investors may already own fleets of luxury sports cars, but an Abu Dhabi brokerage is hoping the chance to win one more will provide them an extra incentive to trade on the markets.
ADS Securities, is offering clients who have a "prime" account and make the best returns the chance to win prizes including luxury watches and watercraft.
Any investor who trades more than US$1 billion (Dh3.67bn) next month will be placed in contention to win, with the grand prize a new Mercedes SL500 worth $140,000.
"$1bn is a substantial amount to trade, [but it is] far from unobtainable," said Marc Aspinall, the global head of sales at ADS.
The company, which launched its prime account last month to generate interest among regional investors in foreign exchange markets and bullion trading, says it already has a "strong handful" of clients who reach $1bn a month.
ADS is looking to continue the competition each month, with a Porsche 911 as July's top prize.
But those who fail to make the mark will not miss out entirely.
"We are also having prizes for individuals who perform exceptionally well but do not reach that $1bn," said Mr Aspinall.
"We have Rolex watches. We have jet skis and we are also going to apply money to clients' accounts, $20,000 or $10,000."
The idea behind the competition is to recognise and reward the best-performing traders.
The company has also opened a stall in Marina Mall with the aim of attracting more professional investors to open prime accounts.
gduncan@thenational.ae
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Rating: 4/5
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Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
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