Trading Accounts in the UAE
A trading account is an account held at a financial institution and issued by an investment dealer. For any active trader ready to beat the market, they need a low priced online account that maximizes features that you will need so that fees don’t add up quickly over time. Although one may opt to use the online automated platforms, there are risks involved.
An investor willing to open an online trading account may settle for an SSL online account. The SSl online trading account allows the investor to integrate your trading account with SHCIL services limited. In order to open an online SSl account, you need to have an account with any branch of the IDBI, AXIS or the HDFC banks. For the activation of the accounts, an investor needs to produce particulars of one of these banks and proof of being an account holder with one or all of the banks.
The SSL account allows you to trade securely on the internet. You are provided with a username and a password on opening the account. You then change the password to enhance its security. The SSL account is available to investors in two types, the streaming type and the non -streaming type.The streaming type of account provides the user with live feeds of exchange rates. This feeds are directly available to your computer. You can also view it through a market watch where rates refresh automatically.
The non-streaming type of account is user friendly and best suited to new users. However, the refreshing is done manually by the user unlike the streaming type. This saves the bandwidth used.
Mubasher is another provider of online trading accounts. It’s the first online trading that has allowed investors to trade online only with the click of a button. This accounts are convenient for traders since you do not need to pass through the hustles. In order to open a trading account with Mubasher online trading, you need quite a number of documentation. The documents required to open the account depends also on the nationality of the individual in need of the trading account. For instance , documents required for non-nationals of UAE are different from those of UAE nationals.
For non-nationals, and original passport, drivers license and investors ID number. For nationals of the UAE, national ID card and the investors ID number. For companies, all necessary official company documentation is required. Opening of the Mubasher account can be done online on the Mubasher website or by visiting any of their branches.
The TD Ameritrade is an American online trading service provider,. Its based in Omaha. Opening an online trading account with Ameritrade has a variety of benefits. The benefits of having one of Ameritrade’s trading accounts include;
You can easily manage your account. Also the user of the account can track past investments and receive monthly statements or trade confirmations via email upon request. The investor can also easily search account history to get important info on any specific investment. The online account helps you track you gains and losses. This helps you device ways to minimize the losses, at the same time managing your taxes. In addition it makes tax seasons easier with access to commonly used tax documents and calculators. If you are an expatriate trading in the UAE an Ameritrade account is a good starting point.
If you are an expatriate wanting to trade stocks in the UAE an Ameritrade account is a good option for you, unless you want to trade UAE stocks in which case you will need a local trading account.