UAE

I am living In Dubai. How Can I invest In the New York Stock Exchange Companies?

I am an investor living in Dubai, UAE. I would like to expand my portfolio to the New York Stock Exchange (NYSE).  But how can I , as a UAE resident, start trading in such stocks as 3M, Twitter, NIO, Boeing and Uber?

In This Article:

Introduction to stocks investments and trading in US Stocks listed on New York Stock Exchange.

The U.S. stock market is one of the foundations of the nation’s economic system, and there is no citizenship requirement when it comes to allowing investors to own shares in a company listed on New York Stock Exchange. Most online brokers offer advanced online trading platforms with instruments listed on the New York Stock Exchange.

Start investing in New York Stock Exchange stocks in 3 easy steps

If you are not much of a reader and just wanted a quick answer, below is the quick 3 easy steps to get you started with investing in companies listed on New York Stock Exchange. 

1. Select Broker

RegalX.png

You’ll want to choose a broker that gives you access to shares listed on the New York Stock Exchange and accept UAE residents.

2. Deposit Funds

Deposit funds, usually as low as $100 in a matter of seconds. Choose from a UAE debit/credit card, PayPal, or bank wire. 

3. Invest In NYSE Shares

Search for NYSE companies, specify the number of shares you want to purchase, and click ‘buy’.

As a Dubai resident, you have two main options, opening a brokerage account with a local Dubai Broker, or international Broker. There are cons and pros of trading with both, which we will cover in more details below.

UAE brokers offering New York Stock Exchange for Dubai Residents.

One way would be to open an account with any of the Dubai-based regulated brokers that can provide access to the New York Stock Eschange (NYSE). The main regulatory body for the Brokers in Dubai, is DFSA

Cons: usually limited number of instruments from international stock exchanges. lower level of platform user experience, and customer support.

Pros: Also offering instruments listed on UAE stock exchanges, Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) and NASDAQ Dubai 

International online brokers offering New York Stock Exchange accepting UAE residents

Here are our top recommended regulated brokers that allow you to buy shares from New York Stock Exchange, which also accept and support Dubai Residents.

Cons: Usually very limited access to GCC stock markets

Pros: Better execution and a more user-friendly online trading platform. Access to a broader base of financial instruments such as derivatives and a wide range of products Lower execution costs and better customer service

Usually with an international platforms, you will find many resources online for how all educational aspects and guides of how to maneuver on the platform, rather then rely purely on the support of a local broker.

Top Brokers

RegalX.png

RegalX

Highlights  RegalX is a platform designed to offer investors access to forex and CFD trades, while also enabling instant pivots to other asset classes including commodities, precious metals and cryptocurrencies. RegalX was developed by Regal Assets, a global multi-commodities operation with offices in global capitals.
Licenses  FSA, CySEC, FSC
Min Deposit:$100

eToro

Highlights   An ideal trading platform for both beginners and experienced traders! With over 8 million users eToro is one of the largest social trading platforms in the world. 
Licenses   CySEC, FCA, ASIC
Min Deposit:$200

Plus500

Highlights   Plus500 is a globally-regulated broker offering to trade on more than 2,500+ leveraged CFD instruments commission-free covering Forex, Commodities, Indices, Shares, Options and Cryptocurrencies.
Licenses  ASIC, CySEC, FCA, FSB, ISA, MAS
Min Deposit:$100

UAE accepted verification documents to open account

Now it has become easier than ever to open a brokerage account and is usually done online in a matter of few days. It is mandatory to provide verification documents to open account with regulated online broker. The verification requirements may differ from broker to broker, but general guidelines are to provide your Proof of Identity (Passport Copy), Emirates ID may be accepted in some cases. And the Proof of Address, the utility bill such as DEWA will be acceptable. And in some UAE based brokers, the copy of Ejari could be requested as part of your verification of address. The phone bill is typically not accepted for verification of address.

Deposit options for UAE residents

Most international brokers accept all major UAE bank cards (Emirates NBD, ADCB, RakBank), as well as a wire transfer SWIFT. PayPal is another widely used method to deposit funds into the brokerage account.

New York Stock Exchange Trading Hours From Dubai

The opening hours of New York Stock Exchange is Monday thru Friday from 9.30am to 4pm (New York Time), making it in the local UAE times from 17-30 till Midnight,  Monday thru Friday.  Which is beneficial especially for those that are weekend traders.

Islamic accounts

Is there any such thing called “Islamic trading”. Most international brokers offer Islamic trading accounts on the financial markets. This is one of the biggest concerns which is still not sorted yet. Most of the people think that purchasing stocks from any medium is a Haram while there are others who believe it to be Halal. Around ¼ of the population being Islamic, the concern is whether day trading fits in with Islamic laws and principles. Such questions have been frequently asked by Muslim traders across the world. Is day trading for Muslims considered as Halal or Haram? You can read here in details about the many aspects and viewpoints to give a clarified conclusion, whether it is halal or haram.

Demo Account, Social Copy Trader.

Depending on your level of expertise, I always recommend opening a Demo account first. Even if you are an expert trader, you might want to get familiar with a platform first.

Social trading, as a mechanism, is the ability to literally copy the trades of other professionals on the same platform and execute those trades in your own portfolio. Examining the habits and emulating the patterns of more experienced traders is an excellent strategy in and of itself, but having the added utility of being able to practically implement those habits by duplicating them perfectly; that’s a competitive edge that pays for itself if used properly. eToro, Zulutrade and Ayondo are all platforms that offer this service. Read on to see if Social Trading is right for you.

Note From Author: We do hope, we were able to answer most of your questions about investing in New York Stock Exchange companies from Dubai, UAE. If there is any questions you have, please feel free to leave a comment below, and I will respond asap. Thank you and Happy Trading! 

Read More "Guides"

Sponsored

Claire Collete

Claire collete has been a dynamic figure in the trading world for well over 20 years. It comes as no surprise that this successful trader has been so effective and influential in the trading market because it is not just a career for her, it’s her passion. Her expertise ranges from traditional stock and equity investments, to higher risk vehicles, such as binary options, making her knowledge and techniques successful on the many trading platforms she has utilized. Claire has also established herself as an educator and a writer, in order to share her accomplishments with so many others who are looking for guidance on their own path to success. She writes for MetaNews on a regular basis and has also gained recognition as an established platform reviewer. Claire is based in Syney, Australia.

Related Posts

Sponsored
Sponsored