What Platforms to use as an expat in the UAE?

March 10, 2023
Investment Updates | Offshore Platforms for Expats
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In this article I want to go over platforms you can use as an expat in the UAE. There are several investment platforms available for expats in the UAE, each with its own unique features and benefits. Here are some of the best investment platforms for expats in the UAE:

  1. Saxo Bank: Saxo Bank is a leading online investment platform that offers a range of investment options, including stocks, bonds, funds, ETFs, and forex. They have a user-friendly platform, competitive fees, and a range of research and analysis tools.
  2. Emirates NBD Securities: Emirates NBD Securities is a popular online brokerage in the UAE, offering a range of investment options, including stocks, bonds, and mutual funds. They have a user-friendly platform, competitive fees, and a range of research and analysis tools.
  3. Interactive Brokers: Interactive Brokers is a popular online brokerage that offers a range of investment options, including stocks, bonds, options, futures, and forex. They have a user-friendly platform, competitive fees, and a range of research and analysis tools.
  4. HSBC InvestDirect: HSBC InvestDirect is a popular online brokerage that offers a range of investment options, including stocks, bonds, and mutual funds. They have a user-friendly platform, competitive fees, and a range of research and analysis tools.
  5. TD Ameritrade: TD Ameritrade is a popular online brokerage that offers a range of investment options, including stocks, bonds, options, futures, and forex. They have a user-friendly platform, competitive fees, and a range of research and analysis tools. However, it is worth noting that they may not be available to all expats in the UAE.

As an expat in the UAE, there are several important considerations to keep in mind when investing:

  1. Legal requirements: Before investing, it is important to understand the legal requirements for expats in the UAE, including any restrictions on foreign investment, tax laws, and regulations regarding investment accounts and brokerage firms.
  2. Risk tolerance: Every investment carries a degree of risk, so it is important to understand your risk tolerance and choose investments that match your level of comfort.
  3. Diversification: Diversification is key to managing risk in any investment portfolio. This means investing in a variety of asset classes, such as stocks, bonds, and real estate, to spread your risk.
  4. Currency exchange rates: As an expat, you may need to exchange currencies when investing. It is important to understand the impact of exchange rates on your investments and choose investments that are denominated in a currency that is stable and well-established.
  5. Fees and charges: When investing, it is important to consider the fees and charges associated with the investment, such as brokerage fees, transaction fees, and management fees.
  6. Investment goals: Before investing, it is important to establish your investment goals, such as long-term growth, income generation, or capital preservation. This will help you choose investments that are aligned with your objectives.
  7. Financial advisor: Consider seeking advice from a qualified financial advisor who understands the unique needs and challenges faced by expats in the UAE. A financial advisor can help you navigate the legal and regulatory landscape, as well as help you choose investments that are right for you.

Conclusion

You find a lot of commission-based advisors in the UAE so a pro tip is to stick to fee-based platforms and ensure that the advisor is not getting a commission or kickbacks from the fund.

These platforms are the ones listed above or you can opt for Praemium (Morningstar Wealth) and Novia.

Stay clear of offshore bonds/saving plans as these all have high commissions and is very unlikely that they will work out beneficial for you. Some of the common platforms used are RL360, and Investors Trust.

They can work for certain individuals, however, for the vast majority, it is unlikely.

For more information on platforms reviews and offshore bonds please read my previous blogs

If you have any questions about investing while in the UAE please email me at info@investmentsforexpats.com.

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About The Author

This article was written by Henry Temple-Baxter, founder of Investments for Expats, whose passion for supporting UK expats with tax-efficient wealth management, retirement planning, and cross-border investment strategies is rooted in years of hands-on experience, a commitment to transparent low-fee solutions, and a deep belief in empowering individuals to achieve financial freedom while living abroad.

Learn more about Henry

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