Emirates NBD is a Dubai-based broker, established in 1963. The brand services 20+ million customers in over 13 countries and is recongized as a leading financial services provider in the UAE with AED 800+ billion in assets. Retail investors can speculate on four major markets including the Abu Dubai Securities Exchange (ADX).
TradeZero is a stock and ETF broker established in the Bahamas in 2015. Though the global entity is regulated offshore, the US subsidiary is overseen by FINRA with SIPC registration. The powerful proprietary trading software makes it a popular choice for active day traders.
Comment by Reviewer
"Traders who want a reliable MENA brokerage with a choice of trading platforms and backing from an established bank should check out Emirates NBD."
"We recommend TradeZero for active stock traders looking for zero commissions, powerful software and extended hours trading."
Pros
The company is licensed by the Central Bank of the UAE and the Securities and Commodities Authority (SCA)
A convenient daily trading programme can be used to automate mutual fund investments with a minimum trade value of AED 8
Transparent pricing model with commission fees by exchange outlined plus a useful commission calculator
THARAA' loyalty program with tiered membership status and rewards for every completed transaction
A good choice of trading platforms with mobile app compatibility, plus telephone order execution
Customer support is available 24/7 via phone, email or online chat bot
Leveraged trading options available
ZeroPro provides access to advanced charting features, instant alerts, customizable hotkeys and, for an extra monthly fee, OTC Level 2 markets
High intraday leverage up to 1:6 for global accounts with balances of $2,499+ and up to 1:4 for US clients
Four in-house platforms including a proprietary mobile app with real-time data streaming
Simple pricing structure; free or paid stock and options orders (eligibility requirements apply)
On-demand tutorial videos and live stream market insights
The US entity is registered with the FINRA and SIPC
Innovative solution to mark unused locates for credit
Pre-market and post-market trading hours
Cons
Trading focused on the MENA region with limited global exposure
An Emirates NBD banking account is needed to deposit and withdraw
A AED 3000 minimum must be maintained across bank accounts
Slim investment offering with no forex trading
Mobile app navigation trails the best brokers
There is no demo account for new clients
There is limited education for beginners
Slow sign up process
TradeZero only facilitates trading US stocks, with UK, EU and other international markets unavailable
High deposit and withdrawal fees; $50 for outgoing and $25 for incoming (waived if over $500)
The TradeZero global entity has weaker regulatory oversight from the SCB of the Bahamas
A $59 monthly fee applies to the ZeroPro and ZeroWeb terminals
Customer support is available 24/7 with a responsive live chat
Awards
Nasdaq Dubai's Retail Broker of the Month Award for April 202
Nasdaq Dubai's Retail Broker of the Month Award for February 2022
Nasdaq Dubai's Retail Broker of the Month Award for December 2021
5-Stars DFM Brokers Excellence Rating certification for the year 2020
Nasdaq Dubai's Retail Broker of the Month Award for June 2020
Nasdaq Dubai's Retail Broker of the Month Award for April 2019
Nasdaq Dubai's Retail Broker of the Month Award for February 2018
