Baraka Stock Broker from UAE - First Hand On Review

[@expat.investor]

Hey fellow investors, if you decide to open an account, you can get $50 free credit using my code: FKNKYX I want to thank all of you that, up to now register to Baraka using my referral, cause thanks to you I have now a full portfolio of free stocks. I get some free stock every week cause more and more people are using this code. If you used the code, let me know in the comment what stock you get for free Stay safe

[@mujtabakhan9313]

There is intraday and option trading feature is available.

[@expat.investor]

Nope. For option trading your best option is IBRK imo…

[@thehowto282]

Do Dubai citizens pay a dividend tax to USA if your buying an etf from usa such as voo using Baraka app?

[@expat.investor]

UAE resident pay a 30% withholding tax on dividends distributed by an ETF like $VOO. Brokers like Baraka automatically deduct this 30% so that you receive the NET directly. No actions to be done from your side

[@guellordakilimali666]

Hey Thanks for the review. Could you make a video explaining how to buy dividends stock and explain how their work

[@expat.investor]

Thanks for watching. I will try to do something 🤞

[@pranavmohandas6741]

Hello can I use foreign card which is not from Gcc to use Baraka while I’m a Gcc resident ? I’m a student actually so I don’t have an account in GCC

[@expat.investor]

Yes sure, you can use international debit card 👍

[@SG-kp5hi]

Any new update Baraka esp transfer of funds, also is your code still available?

[@expat.investor]

I did a review update here, cause transfer options are now better 😉 Baraka Stock Broker 2022 - Update Review kzbin.info/www/bejne/pX6Xm4ychpp1oc0 Yes code is still working 👍

[@tugbabeki8230]

Can resident in turkey use this app?

[@expat.investor]

hello. yes, baraka works from GCC, Jordan and Turkey 👍 Good luck with that, and use my code for a free $25 🤑

[@hortenvo4702]

Hi , can i daily trade with the app? Like buy and sell 3 to 4 stocks in the same day

[@expat.investor]

You can if you satisfy the US FINRA regulations about Day Trade.. basically you need more than 25k into the account

[@SAS-ts1xg]

Hey im new to this i have a question Do you sell the stock whenever you want? And if you do how much time does it takes for you to get the money that you sold the stock for and does it directly transfer to your credit card?

[@expat.investor]

Hello. If you sell the stocks you get money back inside Baraka app in the same moment the order is fulfilled. Basically if you do operation during market hours means instantly. To withdraw money from Baraka to your bank account it's a matter of a wire transfer, so consider between 2-5 days. It's pretty standard for each broker such timing

[@Abdulaziz105]

Hello is fractional stocks safe? if yes!! is baraka broker safe ?

[@expat.investor]

Hello! Fractional shares are safe as much as buying full shares. Baraka, like other brokers from the UAE keep custody of shares with a partner in the US (in Baraka case, their partner US is DriveWealth) and investment are protected up to $500,000 from the Securities Investor Protection Corporation (SIPC). So even in the event Baraka fail, your investment will not be touched. 👍 Please note that Baraka app had a major restyle few weeks ago.. I will review that later on in another video

[@Abdulaziz105]

@@expat.investor Thanks mate ❤️🙏🏻

[@hshhsh2]

please make video of your self buying stock, kind of to show us how to do so

[@expat.investor]

I will try to cover this in some video, but I still have no idea how. But I will keep in mind. Thanks

[@anwaralam7493]

I think sarwa is best for hol Middle East What is your think about it?

[@expat.investor]

It's a big battle between Sarwa, Baraka, and Raseed 😄 Honestly, after the big Baraka update in 2022 (check out my other video about that) things improved a lot in Baraka. In my opinion better Baraka or Raseed, cause their main goal is to be a stockbroker, while Sarwa is an automatic investment platform, which open also a trade section in their app. I expect more functionalities and more consistent updates from Baraka and Raseed compared to Sarwa in the near future 🤓

[@ProdLeo]

can you make a review on sarwa trade?

[@expat.investor]

I will check it out… too many new brokers here in the region ))))

[@SuperSignature]

Good amount of information!!

[@expat.investor]

thanks! really appreciate such feedback :)

[@jaheshazizi2435]

what is referral code ? UAE?

[@expat.investor]

Hello, ref code is: FKNKYX Cheers!

[@samirahmed2183]

Why ibkr is not the choice when comparing with this broker

[@expat.investor]

IBRK is probably the best stock broker out there, and I use it for my investment too. But we are talking here about a zero-commission for beginner investors, and IBRK is a bit more "complex" to use. Also, IBRK take commission fee and for many people it is not acceptable. It's completely 2 different type of broker :)

[@medo_9266]

Hi, can u try Raseed broker ?

[@expat.investor]

I’m in the process of filming the review of Raseed 👍

[@airsaken]

any idea about the taxes? if any?

[@expat.investor]

Regarding Withholding Tax (WHT) on dividends, it depends from your country of residence. Considering Baraka is a GCC broker, for my knowledge none of GCC country has a double tax treaty with US, it means Baraka withhold 30% tax from your dividend automatically. Here the list of the US tax treaty with the % of WHT agreed. ibkr.info/article/861 For what concern Capital Gain Taxation, Baraka doesn't apply any taxation, it is up to you to declare it in your country of residence... knowing UAE or Qatar, taxation is 0%.. for other GCC countries I have no direct experience. There are no any other tax involved for my knowledge. PS: I am not a tax advisor, so please if you need deeper info I suggest you to consult a professional in your country :)

[@s200029928]

So just put an amount in portfolio and baraka will do the rest?

[@expat.investor]

Mmm no. Baraka is not a robot investor. You deposit money and you have to buy stocks or ETFs

[@Asma-vp9gb]

thank you very much

[@expat.investor]

You are welcome 🙏

[@jellycustard671]

Did you send them money from UAE bank account using TransferWise ?

[@expat.investor]

I had balance already inside Transfer Wise..

[@jellycustard671]

@@expat.investor Oh i see... Thank you for replying !!

[@mglimtvchannel8353]

It is work till this moment?

[@expat.investor]

Sorry I don’t get the question :)

[@AbuDaham8]

Can I “ short “ stocks using Baraka?

[@expat.investor]

No, you cant. It doesn't offer margin, leverage, or shorting

[@kabsolute6548]

Sure it’s “zero commission” but 35$ withdrawal fees is just way too much

[@expat.investor]

I agree it's too much. If you invest long term it's not much a problem, cause you will withdraw money in years, and once in a while, but if you plan monthly withdraw, then I agree, it's way too much. I hope they will soon do integration with credit card for deposit/withdraw, in such a way I expect it to be way cheaper.. let's see :)

[@kabsolute6548]

@@expat.investor raseed has a reasonable withdrawal fee (10$) problem is u need an “invite”

[@expat.investor]

I will test that broker too... there are many different brokers popping out in the Middle East, I will try to check them all :)

[@baburamkharel5276]

Hi can you tell me more about this app?please

[@expat.investor]

Hey, what do you want to know? Drop me your questions:)

[@baburamkharel5276]

@@expat.investor like how much minimum we can start invest and there are any fees or taxes applicable or not? And how to buy share ?

[@expat.investor]

you can invest as little as $1 cause you can use fractional shares. The app is commission free broker (like RobinHood app) so there are no commission. Regarding taxes it depends where do you live, but in general from the Middle East Income Tax is 0% so you will not be taxed on capital gains. The broker will withhold 30% taxes on dividends. To know how to buy shares, check the video, I did an example :) Please, considering that taxation is strongly connected with your country of residence, if you have doubts speak with a tax advisor.

[@baburamkharel5276]

@@expat.investor hi thanks I would like to invest but still worry coz this is frist time I mean I don’t have any idea with share market how to Annalise and how to buy share with profit able company.

[@xxmajidmsxx]

well done

[@expat.investor]

thanks! 😄

[@myholyquran2156]

Hallo iam from Indonesia ♡

[@expat.investor]

Hello :)

[@FullTimeNonDrifter]

DONT USE THIS APP IN UAE YOU CANT WITHDRAW MONEY BACK.

[@expat.investor]

I withdrew without any problem… what was your experience?