Want to share this post with any who is interested in trading shares in Dubai Financial Market aka DFM!
Please note this is the process i've went through, it may defer from individual.. eg. TIME needed for the whole process or changes in application procedure set by DFM.
1. Go to DFM located beside World Trade Centre, Dubai. Parking fee is AED5/hour at WTC, depend how long you need! I spent 15 AED :(
2. Bring along your passport and passport copy + Visa page x 2
3. Register yourself with DFM, you need to take a queue number and fill up a form. Ask the security in-charge. For ladies, please try not to wear skirt shorter than knee length, wear long dress or pants for ladies :) I was stopped by the security for wearing a longer than knee length skirt??!!!!!
4. After registering with DFM, you will be given an INV no. (a card handwritten of your name and In no..). You will need to register with any financial brokerage firm. Yes, it's located in the same area, just find one that you like :)
5. Register with your desired financial brokerage firm, fill a form again and show your passport for verification only plus a copy of it.
6. Opt for Internet trading or through broker, i preferred Internet Trading as i can do it as and when I like without calling the broker. If you are not Internet savvy, better go through physical broker to trade on your behalf but don't ask me how :P
7. After registration with a brokerage firm, you will be given an account no. by your brokerage firm. This is required everytime you correspond with your brokerage firm. You will need to deposit funds in the account no. provided by them. Each time you deposit some funds, you need to email the bank advice from your bank to your brokerage firm to activate your funds. Ya, if you are depositing more than 45k AED, you will need to fill a form for your brokerage firm required by the Securities & Comodities Authority.
Cost for registering - ZERO
Time used - 1 & 1/2 hours for me, mean no lunch :(
Cost for each buy/sell transaction - AED 75 min add 10 AED for admin charges or 0.02xxx % if greater than AED75/- plus the admin charge.
Phew....i'm telling what i known for the hassles I've made to all...................for FREE hehehee...
Finally-----O_o you're Done and Good luck! If you are lucky, you may earn some quick bucks in a week and lose the same if you are not! Obviously, do your homework well before you trade.
* ALways trade with due diligence!
Please note this is the process i've went through, it may defer from individual.. eg. TIME needed for the whole process or changes in application procedure set by DFM.
1. Go to DFM located beside World Trade Centre, Dubai. Parking fee is AED5/hour at WTC, depend how long you need! I spent 15 AED :(
2. Bring along your passport and passport copy + Visa page x 2
3. Register yourself with DFM, you need to take a queue number and fill up a form. Ask the security in-charge. For ladies, please try not to wear skirt shorter than knee length, wear long dress or pants for ladies :) I was stopped by the security for wearing a longer than knee length skirt??!!!!!
4. After registering with DFM, you will be given an INV no. (a card handwritten of your name and In no..). You will need to register with any financial brokerage firm. Yes, it's located in the same area, just find one that you like :)
5. Register with your desired financial brokerage firm, fill a form again and show your passport for verification only plus a copy of it.
6. Opt for Internet trading or through broker, i preferred Internet Trading as i can do it as and when I like without calling the broker. If you are not Internet savvy, better go through physical broker to trade on your behalf but don't ask me how :P
7. After registration with a brokerage firm, you will be given an account no. by your brokerage firm. This is required everytime you correspond with your brokerage firm. You will need to deposit funds in the account no. provided by them. Each time you deposit some funds, you need to email the bank advice from your bank to your brokerage firm to activate your funds. Ya, if you are depositing more than 45k AED, you will need to fill a form for your brokerage firm required by the Securities & Comodities Authority.
Cost for registering - ZERO
Time used - 1 & 1/2 hours for me, mean no lunch :(
Cost for each buy/sell transaction - AED 75 min add 10 AED for admin charges or 0.02xxx % if greater than AED75/- plus the admin charge.
Phew....i'm telling what i known for the hassles I've made to all...................for FREE hehehee...
Finally-----O_o you're Done and Good luck! If you are lucky, you may earn some quick bucks in a week and lose the same if you are not! Obviously, do your homework well before you trade.
* ALways trade with due diligence!
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Welcome to the UAE investing community. Yes, I've been caught out but the dress code there too! If you haven't seen them, here's a couple of websites intended for retail investors that you might find helpful. Good luck with your investments :).
ReplyDeleteDubai Share Talk
Share Wadi
Hi Share Wadi
ReplyDeleteThanks! I wished someone had told me before, if not i would not have made the 2nd trip. :)
Coincidentally, I was going through your web this morning and I really find it very informative! Just a little comment/question, do you have past closing price history (H/L) of individual coy for the past 3 months in your web? I don't seem to find it.
Anyway, looking forward to information exchanges on DFM investing opportunities.
Thanks alot and good luck to you too! :)
Cheers..