Daily Dubai

Forex Trading in Dubai

Dubai Forex TradingDubai is a hub of forex trading. The investors in Dubai have turned to forex trading after the fall of real estate market in Dubai. Since then, forex brokers and trading companies have grown in Dubai, attracting local and foreign investors alike.

About Forex Trading: Forex trading involves two parties where both the parties exchange one foreign currency for the other at the agreed rate. Transactions between both the parties can be settled in 3 ways. The three types of settlements are immediate, future or deferred. Immediate transactions are Spot settlements. Latest figures released by Dubai Economic Development (DED) show that the UAE has recorded the growth of 6.2% which is more than any other Middle East region.

Pros and Cons of Forex Trading: As UAE is tax free, the benefits of forex trading in Dubai are immense. However, many still remain sceptical due to the Forex markets reputation as a risky endeavour. In reality, the major currency pairs haven’t changed more than 30% in the last 10 years and it is only the high leverage trading behavior of the investors themselves that lead to their losses. In fact since each forex trade is a double sided trade, it is possible to make profits no matter which way the market is moving.

Forex Trading in Dubai: Not only local residents of Dubai but anyone from anywhere can register for a forex trading account in Dubai. Forex trading has not only cleared geographical barriers but also time barriers because now you can do forex trading for 24 hours a day and 5 days a week.

Forex Brokers in Dubai: Some people see forex as some get rich quick scheme that they can exploit using an internet connection only. These thoughts are incorrect and may lead to financial disasters. Like any other business, success in forex trading requires correct market information and tools that can turn it into profit. For newcomers to forex trading, it is recommended to get services of a broker who gives correct trading signal on correct time. Those brokers can give correct forex trading signals who are analyzing the market in the right pattern with the help of charts and software. There are many such brokers in Dubai who give correct trading signals in time. There are also many brokers who are not providing the right data and can be labeled as scam. When you are just starting out with forex trading you should take your time and do a detailed research before signing up with a broker. To make your research easier we recommend to check out the list of the most trustworthy brokers on business24-7 for beginning.

Many brokers and forex trading companies provide free demonstration accounts so that prospective clients can gain trading experience first and then trade in real. These demo accounts are also beneficial for experienced traders who can get familiar with the rules of game.

Whether you are an expat in Dubai, or a local, forex trading can earn you a decent passive income stream.

relaxing in Dubai

Expat Life Insurance in Dubai

Expat Life Insurance Dubai

As an expat in Dubai living miles away from your country, you need to prepare yourself from unpleasant events. Whether it be a critical illness or inability to work or even commercial risks, you need to be protected by a reliable and highly reputable insurance company.

One of the most important steps that you need to take before going overseas for an assignment or for long-term employment is to find a qualified insurance adviser who can explain to you the various policies you can take when you move to Dubai. You probably have accidental death and dismemberment coverage, but you need to know if it is still covered during other events such as terrorist attacks or natural calamities. Never assume that your employer in Dubai will adjust their insurance benefits according to the needs of their expatriates. But if they do, then that’s good news for you.

A life insurance policy is designed to pay out a lump sum upon the death of a person or persons named on the policy. The death of a spouse who is the main income generator means the death of your family’s income too. And one of the main reasons for life insurance is to provide for your loved ones even if you have passed away. It will enable the remaining family members to still pay any long-term debts such as a mortgage. Even if you are not yet married, it is a wise decision to take out insurance because you never know when your circumstances will change, and you may find yourself “uninsurable” when the time comes that you need to apply for insurance.

Insurance companies in Dubai offer a range of services to help reduce your risks in the following:

– Commercial risk
– Critical illness
– Dangerous occupations
– Dangerous sports
– Disability insurance
– Health insurance
– Income protection
– Life insurance
– Mortgage protection
– Personal risk
– Redundancy insurance

You are encouraged to talk to insurance advisers before you sign up for any insurance packages.

Healthcare is quite expensive in Dubai, unless you have a health card that allows residents to receive low cost medical treatments. It is recommended that you take medical insurance for expatriates. A number of insurance companies offer this type of insurance and you should consider your choices carefully. The insurance usually covers hospital stays, advanced imaging services, out-patient and in-patient surgical operations and emergency dental treatments.

Moving abroad involves critical decisions and life in a foreign country, although manageable, is not really easy because of the uncertainties. When moving to another country, expats must select the right life insurance company. This is a part of being a responsible expatriate.

+ More