How to open an online trading account in dubai




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How to open an online trading account in dubaiHow to Open an Online Trading Account in Dubai

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Pick a broker based in Dubai or elsewhere in the United Arab Emirates that trades the Dubai investment vehicles that interest you. Some brokers specialize in gold and commodities, while others deal in equities and foreign currency exchange. The process of choosing a broker is otherwise similar to the selection of a domestic broker. Depending on your criteria, consider the level of customer service, commissions and order transaction speeds in your decision.

Apply for a brokerage account with the UAE broker of your choice. The application process varies between brokers and is similar to applications for domestic brokers. A notable difference is that the applications will often be bilingual in both English and Arabic, and thus the number of pages will likely exceed what an investor is used to.

Wait patiently for a reply. UAE brokers seek more documentation than most brokers in the United States, and they may request additional information. It is not uncommon to receive requests for proof of residency, apartment leases and other documentation.

Send any outstanding requirements to the broker to complete the application process. Be prepared to send copies of passports and even utility bills with your name on them to prove your citizenship and residence.

Trade directly on the Dubai financial exchanges once the account is approved.