Today, investing has become one of the most popular ways of generating a passive income and padding up earnings. With the advent of the digital age, investors can curate a portfolio that meets their financial needs without any hassle. However, it is important to choose the right financial brokers in Dubai to execute trades quickly and accurately. Here is a list of criteria that will help investors choose the right brokers:
Regulatory Status:
Regulatory authorities keep the different players involved in a trade in check. In Dubai, different regulatory bodies outline rules and guidelines that keep investors funds safe and provide avenues to address grievances. Investors can keep an eye out and check whether stock and forex brokers in Dubai are complying with rules issued by the DFSA (Dubai Financial Services Authority). Additionally, brokers in mainland UAE must adhere to rules set out by the SCA (Securities and Commodities Authority). Lastly, international regulators like the FCA (UK), ASIC (Australia), or CySEC (Cyprus) also oversee brokers if they operate globally.
Trading Costs:
Investors looking for brokers and financial advisors in Dubai must also consider costs and charges before making a final choice. It is important to consider the cost of spreads and commissions. Investors can check the difference between buying and selling price and any per-trade fees to make an informed decision. Similarly, overnight financing fees levied if investors hold positions overnight and deposit and withdrawal charges also add up to the cost of trading. Investors must look for transparent brokers who disclose all costs and expenses before entering into a relationship.
Platform, Tools and Products:
In today’s world, investors are looking for brokers who can offer seamless platforms that work quickly and efficiently. Before opening an account with a broker, it is best to determine what type of platform they use, the speed of executing a trade, and how it performs. Additionally, investors also have to check out the tools and features available-charting tools, research resources, calculators and more. Ideally, a good trading platform should be clean, easy to use and navigate via different devices, and beginner friendly. Quality brokers also offer a range of asset classes investors can add to their portfolio. From stocks and forex trading to commodities and cryptocurrency-investors can benefit from having a variety of investment instruments to choose from.
Leverage and Margin:
The best brokers and trading platforms allow investors to engage in trades without worrying about capital-they provide leverage. While looking for brokers offering leverage it is important to strike a balance. While leverage can help investors execute trades with less capital, it can also magnify risk. To ensure that a broker does not overstep and put investors in a precarious position, the DFSA and SCA set maximum leverage limits. Such limits allow investors to avail themselves of leverage while offering adequate protection.
Ease of Trading:
Lastly, it is essential that a broker has all the basics covered. A good broker in Dubai will offer a range of account types suitable for beginners, active trades, and veterans. Investors should make sure they have a choice of accounts to choose from and do not have to maintain an exorbitant minimum amount. Ideally, a broker should also offer round-the-clock customer support and offer various channels via which investors can pose queries.
If you are looking for a financial broker that meets every point of the criteria mentioned above, you cannot go wrong with Orient Finance. At Orient Finance, we make trading across asset classes for all kinds of investors seamless and speedy. You can open a trading account with us in three simple steps and invest in stocks, forex, commodities, and indices. Approved by leading regulatory authorities in Dubai, we ensure that you kickstart your trading journey in safe hands.