Job Discussion Forums

[Hatcher]

I follow the North American stock market and want to be able to buy stock, preferably online, while I live in UAE. Is this possible - because I havent found a bank yet that allows it?

[adorabilly]

Hi Hatcher.

Most banks don't allow you to buy stock through them here. But you can easily open an Etrade account (or some other online stock program), use your UAE credit card to pay for it, and then trade online.

And with the current mess on wall street, caution might be prudent.

[Truth Hurts]

To my knowledge, UAE credit cards are currently being blocked from making international online transactions. In my experience, this is unprecedented. Apparently, the Central Bank is citing "security concerns" in the wake of a massive wave of online hacking.

It's unclear how long the block will last.

TH

[veiledsentiments]

You should be able to do if with a US bank account and US based credit card. Then you just do regular transfers of your pay from your local bank back to the US bank to cover all transactions.

VS

[Sunburnt Individual]

If you're a US citizen, you can open an account with fidelity or another American broker. You can't if you're not a US citizen - I tried to help a Lebanese friend last year and that was the verdict. I don't know how you would do it otherwise, but it must be possible.

[uaeobserver]

A few of my friends set up investment funds with DeVere - which operates in the UAE.

I believe HSBC has a lot of global investment options, as well.

I just wired my funds home, and had a steward manage them.