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Free trades do not apply to purchases of the following instruments if they are valued at less than $5 at the time of order execution: Stocks, American Depositary Receipts (ADRs), or Over-the-Counter (OTC) securities. A $1 per trade fee applies once all free trades have been used.
Extended Hours Trading gives an additional 5.5 hours to trade during the pre-market (1:00pm - 6:30pm GST) and 4 hours during the after-market session (1:00am - 5:00am GST). The fees for extended trading hours for regular securities vary: $2 for Standard subscribers, $1 for Premium and Premium+ subscribers. The fees for extended trading hours for ADRs and OTC securities vary: $2 for Standard subscribers, $1 for Premium and Premium+ subscribers.
For stocks valued at less than or equal to $5 at the time of order execution, the fee is $1 per trade, plus a trading fee per share of $0.002 for Standard, Premium, and Premium+ subscribers ("per share fee"). For ADRs and OTC securities valued at less than or equal $5 at the time of order execution the fee is $1 per trade plus a trading fee per share of $0.03, however if valued more than $5 at the time of order execution. the charge will be $1 per trade without a per share fee.
There are no account management fees. However, beginning September 1st, 2023, an inactivity fee of $1 per month will be imposed on accounts with less than $50 in total cash and no open positions held by the end of each month.
Third-Party Fees may be shown as “Transaction Fee” when you are making a card deposit. If one applies, the Transaction Fee will be shown on the Baraka Platform and is applicable solely to non-UAE cards and Local Wallets. Baraka may receive a percentage of the Third-Party Fee.
Free withdrawals apply to annual Premium and Premium+ subscribers only. Withdrawal fees are charged by our broker, Drivewealth.
Supported Local Wallets include Careem Pay, Benefit, Knet and OmanNet.
The exchange rate as of 12.06.2024 is 1 USD = 3.777 AED. This rate is applicable for deposits in the UAE using UAE debit cards and Apple Pay.
Deposits less than $50,000 will be charged for Standard plan 0.75%, Premium Plan 0.65%, Premium+ Plan 0.60%. A fee of 0.60% will be charged for deposits over $50,000. Foreign exchange fees apply and may vary. Bank fees may apply, please review your bank's fee policy.
Transfer USD to US Bank and enjoy zero conversion fees. baraka does not charge U.S. transfer fees. Bank fees may apply.
* Kindly be advised that while the pricing for our service displayed on our website is presented in USD ($), we would like to inform you that the currency in which you will be charged depends on the currency associated with your account. This ensures that you are charged at the most competitive exchange rates, thereby allowing you to benefit from the best possible value.
Last updated on Sep 12th, 2024.
