The Crown Prince of Saudi Arabia, Mohammed Bin Salman, is adamant in his objective to transform the conservative Kingdom into a more modern structure, and eToro is helping him do it. In order to modernize the Kingdom, the Crown Prince plans on expanding its closed foreign policy, and diversifying their economy to more than just depending on oil. The IPO of Saudi Aramco is the current aim of the Kingdom and its reformation is talked about in all financial and economic regions.
What is Saudi Aramco?
Saudi Aramco is the biggest oil company of the Saudi Arabian Kingdom; it provides the source of income for the country and the company is a cornerstone of the social, economic, and political structure of the Middle East region. Saudi Aramco is the world’s biggest producer of oil, and it is considered the most profitable firm in the world. Their profits for the first half of the fiscal year reached a whopping 46.9bn dollars, which has been analyzed as more than the combined revenue of the following six oil companies.
The oil industry on a global level has taken a hit since the later half of last year, when there was a shortage of supply. However, they are slowly and significantly going back up the ladder and re-paving the way of its old ways.
eToro Offers An Inside Look To Saudi Aramco
Many traders have always taken an interest to investing with Saudi Aramco, now with eToro, it is possible. eToro is an online financial services provider that offers clients access to the Saudi Aramco stock. On eToro’ trading platform, traders can now access the Saudi Aramco stock through the CFD trading tool. Since the stock of Saudi Aramco has not made itself available on international stock exchanges yet, trading on eToro with CFDs to gain access is the next best thing for interested traders and users.
In order to trade the Saudi Aramco stock, then traders will need to open an active or live account with eToro, since eToro is the only trading broker that is offering the Saudi Aramco stock. Opening a live account is free and it allows traders the full experience, down to copy-trading. Copy-trading is the ability to track others’ trading decisions and follow suit.
eToro also offers a Demo account for traders to try out their account with 100,000 virtual dollars without actually using any real funds to trade with. The simulation demo account gives traders a tangible experience and allows them to understand the inner-workings of the social trading platform.