SARWA vs AMANA vs BARAKA vs IBKR In Dubai, UAE | Wali Khan

Summary

This video discusses the differences between various brokerage platforms, including Amana, Interactive Brokers, and Baraka. It highlights the cost-effectiveness of Amana, especially in terms of price spreads, and contrasts it with the more expensive nature of other platforms. The speaker touches on the global accessibility of Interactive Brokers, while noting that Baraka is restricted to GCC countries. Additionally, the video addresses the implications of relocating internationally and the challenges of transferring brokerage accounts. The speaker also shares personal finance tips and insights on investing in gold online, encouraging viewers to subscribe for more financial advice.

Takeaways

• 😀 Amana offers commission-free trading but may have hidden charges, making it more affordable for users compared to others.
• 😀 Surva charges $1 per trade under $400 or 0.25% for larger trades, making it a cost-effective option for small investors.
• 😀 Interactive Brokers has higher fees, with $4 per trade, but offers the best spreads and lower Forex charges.
• 😀 Baraka offers a flat $1 trading fee for all transactions, making it one of the most affordable platforms.
• 😀 Amana, Baraka, and Interactive Brokers have no annual fees, but Surva charges a percentage of your portfolio as an annual fee.
• 😀 Surva Invest offers a hands-off, passive investment approach, while platforms like Amana and Interactive Brokers require active management.
• 😀 Interactive Brokers is difficult to use for beginners due to its complex interface, while Amana offers the most user-friendly app.
• 😀 Amana provides instant funding, while Surva and Baraka may take up to two days for fund transfers.
• 😀 Amana allows leverage trading, while Baraka does not, which is important for traders looking for higher risks and potential returns.
• 😀 For regional stock access, Amana is the best choice as it offers stocks from the UAE and GCC markets, while others like Baraka and Interactive Brokers do not.
• 😀 Baraka is limited to the GCC countries and may require selling assets if you move abroad, unlike Amana and Interactive Brokers which can be used internationally.

Q & A

What is the main focus of the video script?

The main focus of the video script is to compare different brokerage platforms available for investors in the GCC region, specifically Amana, Surva, Interactive Broker, and Baraka. It covers aspects such as trading fees, account opening process, platform usability, and regulatory considerations.

Which brokerage platform has the lowest trading fee?

Surva and Baraka both charge a trading fee of $1 per trade, making them the most affordable options in terms of trading fees.

What distinguishes Amana from other platforms?

Amana is distinguished by its no-fee trading policy, its user-friendly interface, and the ability to invest in regional stocks like Emirates, DFM, and ADX. It also provides instant funding options but has relatively higher forex charges.

What are the main disadvantages of using Interactive Broker?

The main disadvantages of using Interactive Broker are its complex platform, which can be difficult for beginners to navigate, and its lack of access to regional stocks or easy local account access in the UAE.

What type of investor is Baraka best suited for?

Baraka is best suited for investors who are based in the GCC region and want a simple, low-cost trading platform. It offers an intuitive user interface but lacks features such as leverage trading and regional stock trading.

Is leverage trading available on all the platforms?

Leverage trading is available on Amana, Surva, and Interactive Broker. However, Baraka does not offer leverage trading options.

Can investors use these platforms outside the GCC region?

Yes, both Amana and Interactive Broker can be used globally, with some restrictions in certain countries. Surva is also available globally, but Baraka is primarily focused on GCC investors and may not be available outside this region.

How do the account funding times compare across these platforms?

Amana offers instant funding, while Surva and Interactive Broker typically take 1-2 days for funding. Baraka offers relatively fast funding times, around 1-2 hours, but may incur some fees for specific funding methods.

What are the key features of Surva's platform?

Surva offers low trading fees, but its fee structure increases for larger trades (1.3%-1.5% for new accounts). It is more suitable for self-directed traders and has a moderate level of passiveness, unlike platforms like Amana.

What should investors consider when choosing between these brokerage platforms?

Investors should consider factors like trading fees, the ease of account opening, platform usability, the ability to trade regional stocks, funding times, and the availability of leverage or passive investment options. Amana is ideal for simplicity and regional stock access, while Interactive Broker is suited for experienced traders. Baraka is good for GCC-based investors looking for a low-cost platform, while Surva offers more control for self-directed traders.