Trading in Dubai

Hi all..

Reading through this post there are some interesting views on Dubai..

I moved out here 4 years ago, to set up business. For the five years before that I was a full time trader with ETG and Echotrade. I was v happy with Echo but was having to pay tax on my earnings as they are a prop firm (pointless in Dubai)

Now I'm looking into getting back into trading. Is there anyone trading from Dubai that can recommend a good retail broker (good software, commissions, support) for trading US equities and possibly options?

Cheers.
 
Quote from Dogfish:

Well almost exactly 3 years after starting this thread I was out trading Eurex from Dubai testing the speed at the http://www.Dubaiptg.com prop house last week.

I must say I was impressed with the response times, really not that different from the London houses maybe 5-10ms slower via the leased line. They connect to the Dubai Eurex hub in the next week or so and that should be even faster. Anyway looks like I'll be making the move, if you're not taxed on your worldwide income, it seems daft not to. Bund open is 10/11am rather than 7am in London.

Dubai isn't perfect by any means but with the income boost and the weather over that of London i'm seeing more pros than cons. Rents are high now, (unlike when I began this thread) about $40k a year for a decent 2 bed apartment. A 4 bed villa would rent for $25k in 2004 and same ones go for $70k a year now. At least petrol is cheap.
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Hello Dogfish,

Did you make the move to Dubai?

Those of us who have been following this thread would find it very useful if you could tell us a bit about your experience so far with life in Dubai and your trading firm. Thanks.


Any other Eurex traders who have moved to Dubai recently are also welcome to add their views here.

Cheers:)
 
Also curious about life in Dubai for an independent trader/fund manager - quality of life, recreation, entertainment, culture, customs, infrastructure, etc.
 
Yeah I'm sat in the Dubai office right now. Been here since April. We have a guy trading cash equities on LSE, an gas oil trader, two eurostoxx/dax traders and two eurobond traders who've made the move from major prop houses in London. There's trainees learning spreads too. There's a couple of other firms out here, Invicta and Jebel Tariq trading who are mainly ex Gibraltar traders who I met at the Eurex party a couple of nights ago. TTs been having some issues out here but other ISV s have fast execution and can go through the eurex hub here. TT refuse to support gateways in the middle east apparently due to their jewish roots which has annoyed eurex and traders no end.

The lifstyle's decent and the hours are good but it's getting very expensive out here, basically same as London prices, drink is more expensive but petrol is cheaper.:cool:
 
Ecco is what one of the other prop houses use successfully RTS is another. I began using TT on leased line, bypassing the eurex hub but TT can't really handle it, or rather some of the London clearers and TT can't configure TT and the WANs/sharks to handle it and it's not a cable isssue. You can run PATS next to TT on the same line, same clearer, same markets and it will outrun TTs price information, more so towards the end of the day.

Execution from Dubai is fast, about 35ms, but the graphical feed of price action on the TT ladder means you double check with PATS or CQG to really see what's going on. TT themselves have tried fixing the bug for 3 months but seem to have given up, it's a badly written piece of software and despite me having used it for 6 years, I'll be trying Ecco through the hub later this week.
 
hi, i am a trader who moved from NA to Europe, but i am looking for various opportunities. I have only traded NYSE and NSDQ but i am looking to learn the Asian and European markets very soon.
Regarding Dubai, how much would a trader need to clear to make a good living? Also what is the range of payout to traders from existing trading offices?

Generally what opportunities exist these days in the european markets?
 
Quote from forestfire:

how do the "go faster" crowd survive in dubai?

http://www.dailymail.co.uk/pages/li...ews.html?in_article_id=512815&in_page_id=1811
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Looks very true, was thinking about checking the place out but can now say I will never even set foot in that country, horrible government policy. Had a speck of weed on the bottom of his shoe smaller than a grain of sugar and he is in jail for four years. No thanks, I'll stay here, pay taxes and enjoy freedom, justice, and the American way.
 
Quote from NazSpaz:

Looks very true, was thinking about checking the place out but can now say I will never even set foot in that country, horrible government policy. Had a speck of weed on the bottom of his shoe smaller than a grain of sugar and he is in jail for four years. No thanks, I'll stay here, pay taxes and enjoy freedom, justice, and the American way.
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I haven't met any Americans out here yet, probably because Americans pay taxes on their worldwide income wherever they are, unlike most other nations.

Every country has its pros and cons you just need to weigh up what's important to you. If you need a gun and Columbian cash crops up your nose I recommend you stay put. It's a nice change to not have a powder bores chatting endless crap at you in the bars and clubs here.:p
 
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