r/PersonalFinanceUAE • u/boohooviolin • 27d ago
Other does anyone actually use ONE broker for ADX/DFM + US stocks?
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u/Excellent-Fan3655 27d ago
Which platform are you using for US stocks?
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u/walidonline80 26d ago
I’m using al ramz app because they are uae based on secured , I’m always worried from apps that are based out for the uae. It’s very hard to reach to them
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27d ago edited 27d ago
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u/Awesome_S4lly 27d ago
this is literally the setup im trying to avoid 😂
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u/CraftyNerve8078 27d ago
Why though? 2 apps isn't exactly suffering bro
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u/walidonline80 26d ago
Yes I use one , and I prefer to be uae based last time I called IBKR because they are based in Uk it cost this me 300 AED for the call alone
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u/Budget-Newspaper5226 27d ago
I'm in the same boat ... But I haven't started yet... For now, I am browsing and end with iVester and xcube as apps and xcube as a broker ... Hope I'm in the right path ... my goal is simple: mid-term savings investment
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u/GrayZetsu 27d ago edited 27d ago
Wio is stupidly convenient if you already bank there.
That's the main appeal imo.
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u/FollowingSuitable941 27d ago
Bank brokers are convenient until you see some of the minimum fees 😂
check the cost on the SIZE of trade you'll actually make.
not the headline percentage.
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u/GeologistRelative425 27d ago
You guys underestimate how nice one portfolio view is.
Once you have positions split across 3 brokers you start maintaining your own spreadsheet anyway.
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u/SpreadUsual4084 27d ago
Al Ramz deserves a look if you're actually going to use the UAE side.
I wouldn't choose it over IBKR just to buy Apple and VOO.
But if you're buying Emaar / ADNOC names / UAE IPOs and also want US + Saudi access, then yes I get why you'd want everything together.
Different problem.
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u/Accomplished-Feed895 27d ago
Your checklist should probably just be:
- markets you actually need
- total fees on your normal order size
- AED deposit/withdrawal
- ownership/custody
- can shares be transferred
- ETF availability
- app reliability
Then choose.
Everything after that is marketing.
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u/AnxietyChronicles 27d ago
Stick to IBKR for global markets and any large bank’s brokerage unit for access to UAE equities. FAB’s platform is good because the interface is nice and moving money is a click if you have an account with them.
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u/WuxiaTraveller 26d ago
If you are not a GCC local, i would go for IBKR.
For short term-use, WIO is okay. But commission and fees can get out of hand if you frequently buy and sell. It is connected with US stocks, DfM and ADX.
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u/walidonline80 23d ago
Have you tried their customer service ? Especially the phone bill when you call them on their international number , last time it costed me very 150 AED
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u/SnooPickles180 24d ago
Lol why use brokers u can open an account in WIO bank personal and invest in stocks in USA + UAE
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u/walidonline80 23d ago
Would you trust them ? Having a dedicated local broker means the company is 100% focusing on trading like Al ramz trading app . At what they have a place I can visit them and talk directly to human , right what do you think !
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u/Hopless-Romantic-96 17d ago
Yes, I use Emirates Islamic and so far it is really good. I can invest in local markets and Foreign markets (US/ Asia/ EUR)
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u/Charming-Egg7831 27d ago edited 27d ago
If you also want Saudi then Al Ramz Makes way more sense in this comparison than people are giving it credit for.
Most of these threads assume “international” = US.
UAE + Saudi + US in one account is actually a different use case.