Investor FAQs
Investor
Investor Number Services
No, personal presence is not required to obtain an Investor number. Investors may apply on the DFM App or iVestor App.
Yes. The Dubai Central Securities Depository (Dubai CSD) is open to investors of any nationality based in any country. Any individual or institution can apply for an Investor Number (NIN) with the Dubai CSD in order to trade both DFM and Nasdaq Dubai listed securities.
Yes. Investors below the age of 18 are considered minors, and therefore the guardian must request the Investor Number (NIN) on behalf of the minor. Click here to view the steps.
Trading requires opening an account with a brokerage firm licensed on the DFM
or
You can download the iVestor app to instantly open a trading account with our partnered brokers and trade instantly.
You can apply by providing a duly authenticated Power of Attorney.
Investor Numbers (NIN) can be issued immediately once the request is submitted.
- Opening an Investor Number (NIN) is a free of charge service.
Trading
- After getting your Investor Number (NIN), select a brokerage firm and open a trading account. There are different ways of opening a trading account, check what your broker offers - digital account opening through either DFM/iVestor app or broker apps, or by visiting their branch.
- Through DFM app: all you need is an Emirates ID or passport. Your trading account will be created subject to the broker’s approval.
- Through iVestor app with our partner brokers
- Visit broker member branch: you will need your Emirates ID, passport, family book (UAE Nationals), visa (UAE residents), and bank account statement.
If you applied through DFM app, you can start trading once your broker confirms to you via sms or email.
Or
If you applied through iVestor app, you can directly open a trading account with our partnered broker and trade instantly.
- your broker will review your application with you to provide a certain document or confirm on certain details for further verification.
Transfers
- Transferring shares between accounts of two different investors are permitted only if there is a 2nd degree kinship between the transferor and transferee.
Special Deals off the market are also permitted provided the value of shares of the deal is AED10,000,000 and above.
- In order to process the transfer off the market, the shares must be available in your Dubai CSD account.
Shares cannot be transferred if they are frozen. Frozen shares need to be un-frozen first; this process requires submission of an original certificate or copy of Allotment Notice to the DFM.
The requirements of securities withdrawal from the Dubai Central Securities Depository (Dubai CSD) are as follows:
An official letter or a depositing and withdrawing form should be sent by the investor completed with the following details:- Investor Name.
- Investor Number.
- Company Name.
- Quantity of securities to be transferred.
- Identify the transfer is to be made from Dubai Central Securities Depository (Dubai CSD) (tick the appropriate box on the form).
- Trading member account number in the other market.
- Trading member's stamp and authorized signature.
- Submission of fees by Trading member.
Al Salam Bank – Sudan have different procedures for withdrawing shares from the Dubai Financial Market (DFM) to the Khartoum Stock Exchange, the investor should follow the below mentioned procedures:
- Complete the Securities Deposit & Withdrawal Request Form. (tick the withdrawal box)
- Attach a passport copy or ID copy of the individuals.
- Attach a visa copy (for non-UAE nationals).
- Attach the Articles of Association and Commercial Registration, which should illustrate the company’s nationality.
- Submission of fees.
Note: In some cases there are requests to withdraw Gulf Financial House shares from the Dubai Financial Market (DFM) to the Al Bahrain Stock Market to re-transfer shares to the Al Kuwait Stock Market, and the reason for this is there is no sub-listed agreement signed between the DFM, Gulf Financial House and the Kuwaiti Company for Clearance. And in this case, usually the investor's letter for withdrawal of the shares does not mention the investor 's number or investor 's account details with the member. The Dubai CSD will accept the letter under the condition that the letter must specify that the reason to transfer securities to Bahrain is in order to re-transfer the securities to the Al Kuwait Stock Market.
Statements
Yes, via iVestor app, DFM app and DFM eServices.
Dividends Services (iVESTOR)
- UAE mailing addresses: approximately 10 working days via courier and the investor will be notified by SMS prior to delivery.
- Overseas mailing addresses: approximately 15 working days by registered post / courier during pandemic.
- Cash Deposit and withdrawals made from Emirates NBD cash machines are free of charge while withdrawals from cash machines of other banks may be chargeable.
Online transfer and top up from ENBD online banking to iVestor card is free of charge, however online transfer and top up from others banks may be chargeable.
- Activation of the iVestor card is authorized only by the iVestor cardholder.
- Yes, you can apply for the iVestor card once you open an Investor Number (NIN) with the DFM.
If you already have an Investor Number (NIN), kindly complete the Cash Dividends Payment Method to apply for an iVestor card via DFM App or DFM eServices.
- Yes, on monthly basis investor will receive e-statement on the registered mail ID.
However, you can also check your statement through iVestor app or DFM mobile app or eServices.
Yes, the iVestor card is also a cash card so you can withdraw from the credit balance on your iVestor card from any VISA or PLUS marked ATMs* worldwide.
*Subject to bank charges.
- The iVestor card is only applicable for individuals and sole proprietorship.
- The iVestor card is only applicable for individuals and sole proprietorship.
- Applying for an iVestor card is free of charge.
New investors can apply for investor number through iVestor app or DFM app.
If you have an Investor Number (NIN), you can apply for an iVestor card by updating your payment method via DFM app or DFM eServices.
- Please contact DFM iVestor Card Services on +971 4 305 5555, selecting option 3.
- This is possible provided the investor’s representative presents a duly authenticated Power of Attorney in which it states a clause authorizing the representative to apply for an iVestor card on behalf of the investor.
For lost cards, you can request an iVestor card replacement through DFM mobile app or eServices.
- There is no annual fee, the card is valid for 5 years.
Dividends Services (Bank Account)
- There are charges for every dividend transfer per company. The charge is deducted from the dividend amount.
- For Local Bank Account, if the dividend amount per symbol is less than 4 AED, the amount will not be transferred to the Bank Account. Except for Emirates NBD and Emirates Islamic Bank.
For International Bank Account, if your dividend amount per symbol is less than 500 AED, the amount will not be transferred to the Bank Account.
The Bank Account payment option is not applicable. Instead, you will be paid by credit into the iVestor card.
The Bank Account payment option is not applicable for the dividends below AED 500. Alternatively, the investor can submit a request to receive cash dividends and change the payment method for receiving dividends to iVestor Card.
- No, you must only provide the bank account details of the minor and not for a third-party.
- Yes. You can apply for an iVestor card and also select your preferred mode of payment for receiving any due dividends, either by crediting to your iVestor card or your Bank Account.
- Yes, the bank account option is applicable for all types of investors.
- You will receive your dividends via direct credit to your Bank Account only for the companies who decide to distribute their dividends through the DFM as the paying agent and if you have selected the bank account option for receipt of dividends.
iVestor
Most Frequent queries
- If you lost your phone, please contact our customer service at 04 305 5555 immediately.
- Please contact DFM customer support team on 04 305 5555 or email us on support@iVestor.ae.
- It can take up to 2-3 business days to reflect the amount in your account. Beyond that please email us on support@iVestor.ae.
- You can renew this immediately by entering the new pin under the card settings, Card settings- change pin- Enter a new pin – Enter pin again- OTP to confirm your new pin- new pin saved.
- Login on the app, tap on the card, select “cancel card and request a new one” and choose “ATM took the card” as the reason and request a new one.
- Due to regulatory restrictions, iVestor cards cannot be delivered to the following countries: Vietnam, Iran, Somalia, Egypt, Russia, China, Belarus, South Korea, Sudan, Syria, Afghanistan, Australia, India, and Ukraine. We apologize for any inconvenience this may cause.
- Currently, SMS services are not available for international numbers. Rest assured, we are actively working to resolve this issue and expect to restore the service for our customers soon.
- Your card may have been temporarily blocked. Please follow the instructions provided to resolve the issue. If further assistance is needed, don’t hesitate to reach out to us.
- For security purposes, your card needs to be inserted or swiped at a point-of-sale (POS) terminal for the first transaction before the tap feature can be activated.
- Funds may take up to one business day to appear in your account. If you do not see the funds within two business days, kindly provide proof of the transfer, and we’ll assist you further.
- Please ensure you have downloaded the new iVestor app, available on the App Store or Google Play. If the withdrawal doesn’t reflect after two business days, kindly report the issue to us for further investigation.
- The minimum limit for deposit using Emirates NBD’s ATM/CDM channel is AED 100.
- Your iVestor is a VISA prepaid card designed specifically for receiving dividends and deposits from your own account. Please note that it’s not meant for salary payments, so any salary-related bank transfers will be rejected.
About iVestor
- iVestor is a digital platform, an evolution of the iVestor prepaid card, that offers a range of features to track your dividends, securities portfolio, IPO offering, and makes spending more accessible, efficient, and engaging. You need an active primary card to be able to enjoy the features.
- New user:
- Download the iVestor app (available on iOS and Android)
- Launch the app.
- Once you are directed to the welcome screen, create your account in a few easy steps. You will need your Emirates ID on hand if you are a UAE resident, or a passport if you are not a resident.
- You are in! Explore the app while you wait for your card to be delivered in 4-5 business days within UAE and 15 business days internationally.
- Download the iVestor app (available on iOS and Android)
- Launch the app
- Login with your DFM account credentials
- Forgot your password? Tap “forgot password” and follow the steps to login.
- Through the app
- Login to your iVestor app, and click the card tab
- Provide the last 4 digits of card number and expiry date
- Land line: 043055555
- Select option 3
- Select option 1
- Enter your 16 digit card number
- Yes, iVestor is free to download and use without any fees. You do not require a minimum salary or need to maintain a minimum balance to create an iVestor account.
- UAE Resident
- Active UAE mobile number
- Email ID
- Valid Emirates ID
- Current Address in the UAE
- Active country of residence mobile number
- Email ID
- Valid passport
- Address
- Yes, iVestor is compatible with Apple Pay.
- To sign up, you must be 18 years of age or above. For a member below 18, a guardian can simply apply for the iVestor card in your name.
- No, the iVestor card is a unique “pre-paid” debit card, credited with funds including any dividends from DFM listed companies and cash “top-ups” in order to make cash withdrawals and purchases from anywhere in the world accepting VISA.
- Yes, you can still apply for the iVestor card, in fact we encourage you to onboard to iVestor, apply, activate and use the card, and get familiar to become an investor in future.
Yes, the iVestor card is also a cash card. You can withdraw from the credit balance on your iVestor card from any VISA or PLUS marked ATMs* worldwide. The respective forex rates apply.
- This is possible provided the investor’s representative presents a duly authenticated Power of Attorney in which it states a clause authorizing the representative to apply for an iVestor card on behalf of the investor.
- The iVestor card is only applicable for individuals and sole proprietorship.
- Yes, you can send and receive funds between iVestor friends using your account. More features will be unlocked once you receive the physical card. Then you must have an at least one active card to enjoy the features.
- Reset your password with below simple steps:
- Navigate to account settings
- Tap on account
- Tap on password
- Create your password
Currently this is not available.
- If you have been active user of iVestor, the card will automatically be renewed and delivered to the address provided. If the card has not been used for more than six months, the card will not be renewed and shall be cancelled. You will need to contact the support for renewal and access the features.
- You can update your delivery address prior to your card expiry date by a pop up notification.
- When you login, select the card and tap on “freeze card”. A frosted feature will appear on your card to indicate it has been frozen.
- Tap on the card then select “modify security”, here you will find the limit sections, where you can set the limit for withdrawal.
Futures Trading
- Equity Futures is a financial contract with a value agreed upon by two parties. These contracts derive their value from the value of the underlying asset. For equity futures, the underlying instruments are shares, like EMAAR or DEWA.
- With Equities, the investor owns the stock of a listed company, they hold voting rights and are entitled to receive cash dividends. In equities, an investor can only go short in for selected equities subject to borrowing requirements.
Whereas with Futures, there is no ownership of the stocks, the investor has no voting rights and is not entitled to receive cash dividends. Going short for futures is possible and can be achieved by taking a sell position in the futures contract compared to going short in the underlying share
- Incentive to make profits with minimal amount of capital investment in the form of margin instead of full contract value. However, these instruments are subjected to higher risk as well. Provides liquidity, enables price discovery in the underlying market.
- DFM Equity Futures are currently traded in AED. The Micro DME Oman Crude Oil contract is traded in USD (coming soon on iVestor). The contract specification will always identify the currency for the contract.
- All types of investors are allowed to trade on DFM Equity futures. Example, all Individuals, institutional, funds, corporate clients, etc. A suitability assessment will be completed by the licensed DFM Equity Futures Broker.
- Equities and Futures are identified separately. Futures will have the word “FUT” to identify it as the Futures ticker. For example, Futures on Emaar Properties for the September 2025 expiry will be “EMAAR FUT – September 2025”.
- The Futures ticker will be identifiable with the Product Code, Month Code and Expiry Year. For example, Futures on Emaar Properties for September 2025 expiry will be represented as EMAARU25 where the “U” denotes the month of September (as per the below table), and the expiry year is 2025.
- We make trading Futures easy for you. No matter your nationality or which country you are based in, you can apply to trade DFM Futures.
- As a first step, if you are over 18 years of age you can open a trading equity and futures account on iVestor app with our partnered brokers.
- Next, make sure your trading fund account has a cash balance for the margin requirement for trading DFM futures contracts. For example, the DFMGI future this is 5% for each contract.
- Place an order on the app to either buy or sell the equity Futures contract. The order will be sent to the DFM derivatives market via a partnered broker and executed if a matching price is available. The trade will be registered for clearing and settlement with Dubai Clear.
- Any profit or loss made due to a change in the market price of the Futures contract is settled after the closing on a daily basis as Realized PL.
- Once a position is closed, any Initial Margins related to this position, after any profit or loss, will be released and added/ deducted to/ from your trading fund account.
- For investors holding the contract to expiry date, the contract will be automatically closed and settled by Dubai Clear with the final settlement price.
- Yes. Futures accounts are separate from your regular trading account. Once approved, you will see “Futures” with details as an option in wallet tab within iVestor.
- An open position in Futures means you have a trade (buy or sell) that is still active and not yet closed. In short, an open position shows your current exposure to the market until you close it (by taking the opposite trade or until the contract expires).
- You close your Open position by taking the opposite trade for example if you have bought 1 contract than your open position in Long 1 contract and same can be closed by selling one contract in the same symbol.
- Trading in Futures carries risks for investors. It is recommended that investors seek financial advice before trading if they have limited experience. Risks include:
- Leverage – Magnification of the effect of the capital can lead to significant losses, considerably more than the movement of the underlying asset.
- Close out – Any open contracts are automatically closed on the expiration day by the clearing house at the Final Settlement Price.
- Margin calls – Your broker may make margin calls during the term of the future, which require immediate cash settlement. Any failure to meet this margin call may result in liquidation of your positions with or without your consent.
- Dividend uncertainty– Holders of Futures contracts do not receive any ordinary dividends paid by the company on underlying shares. Investors must also consider that expected dividends declared and factored into Futures prices are not certain and this may affect the profit or loss made by investors on their Futures trading.
- Long (Buy): Entering a position to benefit from an increase in the price of the underlying asset.
- Short (Sell): Entering a position to benefit from a decrease in the price of the underlying asset, often without owning it.
- Note: For an existing long or short position the short or long action will partially close the position if you execute it with the same broker. However, if you are long with one broker, you can open a short position for the same symbol with another broker.
- Yes, there are safeguards to limit excessive price movements. DFMGI Futures have daily price limits set at 5% above or below the previous closing price. For single Stock Futures and Oman Oil DME Mini Contracts futures applies price limits too for around 25% and can be checked for the specification online here: https://www.dfm.ae/investing/products/derivatives
Equity Futures contracts have a 3-month trading cycle: the near month (one), the next month (two), and the far month (three).
New contracts are introduced on the second Thursday of the near month. Each contract expires on the third Thursday of its expiry month, and a new three months contract would be introduced a week earlier of its expiry date. By this way, before the expiry day of each contract, there will be 4 contracts available for trading in the market for one week.
For example, if a new future contract listed on October 08, 2020, there would be three contracts: The first contract expires on November 19th, 2020, the second contract expires on December 17,2020, while the third contract expires on January 21 2021. On 12 November 2020, a new contract would be introduced to be expired on the 3rd Thursday of February 2021. Accordingly, there will be four contracts available for trading during the week preceding the expiry date of near month contract.
- Yes. Futures are leveraged products. Losses can exceed your initial margin, so it’s important to manage risk carefully. Losses are deducted from the trading fund account. If balance is insufficient, all open positions will be liquidated (closed).
- 10:00 am – 3:00 pm, Monday - Friday.
- No, any foreign ownership limits on the company’s equity will not apply on the Futures contract.
- No, investors should note that long position holders in Futures contracts are not entitled to any ordinary cash dividend paid on the underlying shares. The price of the Futures contract discounts any expected upcoming dividend.
- A market maker provides liquidity to the market. Market makers are financial institutions that simultaneously offer both Bid and Ask prices for the contract. They provide investors with the opportunity to enter and exit positions in the DFM traded Futures. Currently the DFM Futures’ market has three market makers quoting a minimum of 5 contracts on each buy and sell-side of the market. This guarantees a minimum liquidity to investors.
All Equity Futures Contracts are cash settled on a daily basis for the profit or loss calculated based on the Daily Settlement Price which is specified in the contract specification of the product. The daily settlement price will become the adjusted cost price of the contracts.
On the expiry day of the contract all open positions are expired/closed and positions are settled for the profit and loss using the Final Settlement price on the expiry day, which will be the closing price of the underlying stock or index.
- Yes, there are safeguards to limit excessive price movements. DFMGI Futures have daily price limits set at 5% above or below the previous closing price. However, the market has the discretion to adjust the price limits if there is a significant change in the underlying DFMGI index.
- Yes, going into a short position without a long position is possible. Short selling allows you to anticipate market correction.
- The expiry date is the last day the contract is valid. For the details you can view the contract specification.
- On expiry date, the Futures Settlement Price is calculated based on the stock or index closing price. Any profit or loss is calculated based on this price and settled accordingly. All open Futures Positions expire on this date and Initial Margins are returned. Investors can ‘rollover’ their Futures position by closing their open position on or prior to maturity and entering a new contract to maintain their positions in the Futures. The rollover feature will soon be available on iVestor.
- Your position will be automatically closed and settled by the clearing house on the last trading day based on the final settlement price. The investor will be charged expiry settlement fees for any open positions closed by the clearing house.
- Yes. Selling in advance (shorting) allows an investor to profit from a stock or index that is going to fall in price.
In single stock futures trading, buyers and sellers agree to the terms of the contract, including the price, quantity, and expiration date. Currently these contracts are settled through cash settlement, where the final price of the contract is exchanged for cash.
The settlement process involves the exchange of cash instead of physical delivery of the underlying shares. When the contract reaches its expiration date, the final price of the futures contract is determined based on the prevailing market price of the underlying stock. In cash settlement, there is no physical delivery of the underlying shares.
Instead, the settlement is achieved through the payment of cash differentials based on the price movement of the underlying asset. The futures price is determined by the current price of the underlying stock, adjusted for factors such as dividends, interest rates, and market expectations.
- Trading oil futures involves entering a contract to either buy or sell a specific amount of crude oil at a future date. The contracts have standardized terms, including the quantity, quality, and delivery location of the oil. The futures price is determined by factors such as supply and demand dynamics, geopolitical events, and market expectations. Upon expiration, the contracts are settled in cash, with no physical delivery of the oil.
Underlying Index
DFM General Index (DFMGI)
Currency of Trading
AED (UAE Dirham)
Contract Type
Futures
Contract Size
10
Contract Value
DFMGI Futures price x Contract size Example: (3500 x 10 = 35,000)
Contract Series
3 consecutive months contracts. Example: June 2023, July 2023, and August 2023.
Tick Size
0.50
Tick Value
Contract Size x Tick size - AED 5
Safeguards (daily price limits)
5% up and down from previous closing price. Market would have the discretion to increase or decrease the price limits pending market circumstances, if there is significant change in the underlying DFMGI index.
Settlement Type
Cash Settlement
Daily Settlement Price
Theoretical Futures Price of Underlying Index, Calculated In accordance with the Clearing, Settlement and Risk Management Procedures for Derivatives
Final Cash Settlement Price
FCSP is based on the closing price of the underlying Index on Last Trading Day
Expiry Day (Last Trading Day)
3rd Thursday of the expiry month. In the event of the 3rd Thursday not being a Business Day, the Last Trading Day shall normally be the Business Day prior the 3rd Thursday.
Trading Days
Exchange Business DaysSettlement Day
T+1 (Business Day following the Trading Day)
Settlement Currency
AED (UAE Dirham)
Listing of New Contract Series
2nd Thursday of the expiry month i.e., Thursday prior to Expiry Day
Trading Hours
Monday- Friday, 10:00 - 15:00 (UAE Time). Please refer to Trading Manual for further details on trading sessions
Max Order Size (In Value)
AED 20 million
Direct Deals (No of Lots)
300
Position Limit
Higher of 10,000 lots or 30% of the total open interest in the market. For further details refer Dubai Clear circular
Initial Margin Rate
Minimum 5% and adjusted from time to time as per Dubai Clear Risk Management procedures
Matching Engine Board
DFMGI Futures will be listed on DFM Futures AED board (602)
- Similar to single stock futures, index futures involve standardized contracts with predetermined expiration dates and contract sizes. The futures price is based on the current level of the underlying index and considers various market factors. Index futures are settled in cash upon expiration, as there is no physical delivery of the underlying stocks.
- You can select the futures tab on the search bar to view all futures contracts, choose the contract, enter your order details (Buy/Sell, quantity, price type, broker), and confirm the order.
Contract (lot) size represents the minimum number of units of the underlying Equities or index you buy or sell when 1 contract of Futures is bought or sold.
For example, if the product specification of Single Stock Future says that the Contract size is 100 then it means when 1 contract is bought or sold, it is equivalent of buying or selling 100 shares of that underlying.
- DFMGI Futures refers to futures contracts based on the DFM General Index (DFMGI), which is the benchmark index for the Dubai Financial Market (DFM) designed to track the performance of the most liquid, and amongst the largest companies listed on the market. It allows investors to speculate on the future price movements of the DFMGI and provides a tool for portfolio diversification and risk management.
- It offers investors a simple, cost-effective way to trade their view on the DFM market. It also provides investors with an efficient tool to hedge their DFM equity portfolio risk.
- The contract size for DFMGI Futures is 10 units. The contract value is calculated by multiplying the DFMGI Futures price by the contract size. For example, if the DFMGI Futures price is 3,500, the contract value would be AED 35,000.
- DFMGI Futures can be traded from Monday to Friday, between 10:00 and 15:00 UAE time. Please refer to the Trading Manual for more detailed information on the trading phases. Note: for specific brokers, futures trading is suspended during pre-close and pre-open.
- DFMGI Futures are settled through cash settlement, which means the settlement is made in cash rather than through physical delivery. The daily settlement price is determined based on the theoretical future price of the underlying index, while the final cash settlement price is based on the closing price of the underlying index on the last trading day.
- The expiration, or last trading day, for DFMGI Futures is set as the 3rd Thursday of the expiry month. If the 3rd Thursday is not a business day, the last trading day will be the business day prior to the 3rd Thursday. New contract series will be listed on the 2nd Thursday of the expiry month, which is the Thursday preceding the expiration day.
- The maximum order size for DFMGI Futures is set at AED 20 million in value. Direct deals, which are trades conducted outside the order book, are limited to 300 lots. Additionally, there is a position limit at the member level, which is the higher of 10,000 lots or 30% of the total open interest in the market.
- Contract Series is up to 3 consecutive months contracts. Example: April 2026, May 2026 and June 2026.
By taking Long or Short position in a future contract, the investor needs to deposit a minimum amount of acceptable collateral as an Initial Margin with the member. Initial Margin rates for DFMGI Futures is 5% as prescribed by Dubai Clear. However, members have the right to ask for a higher Initial Margin depending on the risk profile of the client. When the client closes the position (sell to close Long position and buy to close short position), the balance of the Initial Margin is released.
Example:
On September 1, 2026, an investor buys a 1 contract of DFMGI Futures at a price of AED 3,500 September 2026 expiry.
Contract Size is 10 and Initial Margin is 5% per contract.
Expiry day of the contract will be 17 September 2026
The contract value is AED 35,000 (1 * 3,500 * 10)
The investor pays only AED 1,750 as Initial Margin (35,000*5%).
- Contract underlying
Security traded on UAE stock exchange and as approved by Nasdaq Dubai and published by way of notice
Currency
Same as trading currency of underlying security in primary market. Settlement currency will be in AED or USD as selected by each Clearing member.
Contract Series
1 month, 2 months and 3 months expiry
Minimum Price Movement (Tick size)
0.001
Daily Price Limits
20% up and 15% down from previous closing price
Settlement Type
Cash settled
Expiration Settlement Price
Last 30 minutes of volume weighted average price (VWAP) of the underlying security
Last Trading Day/Expiry Day
3rd Thursday of the expiry month. In the event of this not being a Business Day, The Last Trading Day shall normally be the Business Day prior to the 3rd Thursday.
Settlement Day
Business Day following the Expiry Day
Listing of New Contract Month
2nd Thursday of the expiry month i.e. Thursday prior to Expiry Day
Trading Hours
Monday to Friday, 10:00 am - 3:00 pm
Contract Size
100 Shares
- Product
DFM Micro GME Oman Crude Oil Futures
Symbol
OMOIL
Underlying
GME Oman Crude Oil Futures
Currency
USD
Contract size
100 barrels
Price Quotation
U.S. dollars and cents per barrel
Maturity
Monthly contracts for the next twelve months forward
Settlement Type
Cash Settled
Last trading day
Five-business days prior to the last Business day of the second month preceding the delivery month. If the Last Trading Day is a holiday then the Last Trading Day will be the one business day for both DFM and GME preceding the holiday (e.g. The Last Trading for July Futures 2022 delivery contract will be 24 May 2022)
Final Settlement Day
Business day next to last trading day
Future Type
Daily settled with cash settlement after the last trading day
Listing of new expiries
Business day following the last trading day
Price Limits
No limits
Tick Size
$0.01
Daily Settlement Price
Closing price of Futures Contract (or) Closing Price derived from the underlying as determined by Dubai Clear from time to time
Final Settlement Price
GME Market Price on the Last Trading Day or as deter- mined by Dubai Clear from time to time
Trading Hours
Monday to Friday, 10:00 to 15:00
Trading Board on Matching Engine
605
- To take Long or Short position in a future contract, the client needs to deposit a minimum amount of acceptable collateral as an Initial Margin with the Broker. Initial Margin rates are as prescribed by Dubai Clear. When the client closes the position (sell to close Long position and buy to close Short position), the balance of the Initial Margin is released.
Example:
On September 1, 2020, an investor buys a 200 contracts of XYZ company at a price of AED 2.00 September 2020 expiry.
Contract Size is 100 and Initial Margin is AED 20 per contract.
Expiry day of the contract will be 17 September 2020
The contract value is AED 40,000 (200 * 2 * 100)
The investor pays only AED 4,000 as Initial Margin (200*AED20).
- After the close of each trading day and if the market in your future contract has moved, you either have a gain or loss in your account. Variation Margin is the process of crediting or debiting this profit or loss from your account.
For example, if you bought a stock at AED 2, until you sell the stock all your gains and losses are unrealized. But if you bought the futures contract at AED 2, and the price went up by the end of the day, you will have a cash gain realized in your account. If the price went down, you will have a cash loss in your account.
There are no overnight finance charged to your account, a distinct difference with Contracts for Difference (CFDs).
- Covered Margin Level
If your margin level is above 75%, your position is fully secured.
Action: No action is needed.
Moderate Margin Level
If your margin level is between 51% and 75%, your position is stable but could be affected by market volatility.
Action: Monitor your position and ensure you have enough funds available.
Under Risk Margin Level
If your margin level is between 26% and 50%, your position is nearing the liquidation threshold.
Action: Add funds or reduce your position to avoid auto-liquidation.
Liquidation' Margin Level
If your margin level is 25% or lower, your position is at immediate risk of being closed.
Action: Add funds before the next trading session to maintain your position.
- The formula is:
Margin Level = ((Trading Funds – Losses) / Margin Requirement) × 100
- Required Margin is the amount of capital needed to open and maintain a futures position. For example, when EMAAR is trading at AED 15, then 1 contract of EMAAR Future (equivalent to 100 shares of EMAAR), the margin requirement is AED 190.
- Open Interest is the total number of outstanding contracts that are held by the market participants at the end of each day.
If both parties to the trade are initiating a new position (one new buyer and one new seller), open interest will increase by one contract. If both clients are closing an existing or old position (one old buyer and one old seller), open interest will decline by one contract. If one old client passes off his position to a new client (one old buyer sells to one new buyer), open interest will not change. To determine the total open interest for Equity Futures, we only need to know the total from one side, buyers or sellers, and not the sum of both.
- It is the last day on which the contracts expire. Futures contracts expire on the third Thursday of the expiry month. If the third Thursday is a trading holiday, the contracts expire on the previous trading day.
- Go to wallet > Futures to view your open positions, P&L (profit and loss), and margin requirements in real time.
- Investors must understand that investment in Futures has an element of risk and is generally not an appropriate avenue for someone of limited resources (limited investment), limited trading experience, and low risk tolerance.
- An investor should therefore carefully consider whether such trading is suitable for him or her in the light of his or her financial position.
- An investor must accept that there can be no guarantee of profits or no exception from losses while executing orders for purchase and / or sale of Future contracts, Investors who trade in Futures at the Exchange are advised to carefully read the Risk Disclosure Document and the details contained therein.
- The investor must read this document, understand the implications, and sign it. The document clearly states the risks associated with trading in Equity Futures and advises investors to exercise the utmost caution before entering into the market.
- It is because of the commission charged by the broker for opening a position. Realized P&L is the profit or loss from positions that have been closed including commission.
- Typically, account activation takes 1–2 business days approved by the selected broker.
- Realized P&L is the profit or loss from positions that have been closed including commission. It represents actual gains or losses that have been settled.
- The Futures Net P&L (Profit and Loss) shows your total gains or losses from futures trading, calculated in AED. It includes both realized and unrealized P&L along with commission.
- It refers to the return on the gain/ loss compared to the margin reserved to open the position.
- Margin Level shows your account’s collateral status and trading capacity.
It includes:
- Collateral Value: Total funds available for trading minus unrealized losses, to cover the margin.
- Trading Funds: Available funds for trading.
- Unrealized Losses: Losses from open positions.
- Margin Requirement: Minimum margin needed to maintain positions.
- Collateral Utilisation %: Indicates how much of your collateral is being used.
- - Current/ Closing price: Current price is the last traded price during trading hours, and the closing price is daily settlement price.
- Adjusted cost price: Adjusted cost price is the average cost of your open positions, updated with the daily settlement price and any trades you make during the day (buying, selling, or closing).
- Commissions are charged per contract value per side (buy/sell). The exact rate depends on the broker and contract type. You will see the fee breakdown before confirming an order.
There may be exchange fees, clearing fees, and broker fees as applicable. All fees are transparently displayed while placing the order.
- If your account falls below the required margin, you’ll receive a margin call by email and notification. You must deposit additional funds or close positions to avoid liquidation.
- Monitor your margin levels closely daily. You can also deposit additional funds to your trading fund and maintain your position.
- Yes, iVestor sends real-time alerts/ email when your margin falls below the margin level threshold (moderate, under risk, and liquidation). However, in fast moving markets, liquidation may occur quickly.
- No, once a position is liquidated, it is closed permanently. You can open a new position if you have sufficient margin.
- Go to the "Transaction History" section in the app to see all your completed trades, profits, and losses.
- The profits will be credited to you trading fund and will be available for further trading. Actual withdrawal will be permitted after 2 working days. After 11:00 am.
- Yes, but the required margin amount will remain blocked from withdrawing.
- Unrealized P&L reflects the profit or loss on open positions based on current market prices and your adjusted cost price. It changes in real time as prices fluctuate.
- Through the ivestor app, select Futures from the wallet tab and apply. Each broker may require their own onboarding requirement and acknowledgement or approvals before enabling Futures trading on iVestor.
Virtual Cards
- A virtual card is a digital only VISA card that exists only in electronic form and can only be used for online or remote transactions.
- Yes, through apple pay and google pay which will launched soon!
- Yes, virtual cards typically have an expiration date of 5 years by default and investors can delete the card anytime once the purpose is accomplished.
- You can fund a virtual card by transferring money from primary iVestor card.
- You can have 1 free virtual card. Up to 2 additional virtual cards can be provisioned at a fee.
- You can usually cancel a virtual card.
- It is only available to primary iVestor card of the recipient.
- Yes, you can.
Portfolio
- The portfolio section is a feature that allows users to manage and track their investments in stocks of listed companies in DFM. The portfolio section typically displays details about your stock holdings, including stock names, quantities, current market values, and performance metrics.
- No, you can only have a view of your total investment and portfolio, of DFM listed company’s stock.
- The total investment calculates the sum of your portfolio and saving goals. The interactive chart shows the trend of the market value of your portfolio in time.
- You can see historical performance charts and data for your portfolio from 2015 onwards.
Saving Goals
- A saving goal in iVestor is a specific financial target you set for yourself, such as saving for a vacation or a new gadget. You can start saving toward your goals on iVestor. Using 3 options such as an automatic transfer from your main account to your saving goals, round ups options from POS and dividends to be transferred to saving goal.
- currently you cannot edit or adjust the target amount and due date of your saving goal.
- You will be able to see a progress tracker that shows how close you are to reaching your saving goal.
- The goal is incomplete; however, funds will keep on being added to the saving goal.
- There is no interest, or any fee associated with saving goal accounts.
- When you reach your goal, you can typically mark it as completed and access the funds for your intended purpose.
- You can pause or adjust your contributions to a saving goal as needed.
- any time you make a POS transaction the rounded-up amount will be moved to your saving goal.
Split Bills
- The 'Split Bill' feature allows users to divide expenses among multiple people when sharing costs. You can create a group with people you want and start splitting bills equally or not.
- To split a bill, open the app, select the transaction, choose the "split bill" option, and select the names or contact details of the people involved, next you can decide on the amount for each person and split the bill. You can customize the split by entering individual amounts or percentages for each participant based on their share of the expense.
- You can send them the request and they’ll receive it via SMS, to onboard to iVestor and continue with the payment.
- The users will receive the request on their iVestor app and they have option to accept and pay by their iVestor or decline.
- Yes, transaction history on the app includes split bills.
- You can send reminders through the app or manually record their contribution as unpaid.
- You can split bills for both online and in-person POS transactions.
- Typically, you can split bills with anyone, but ensure they are willing participants and preferably part of the iVestor eco-system.
- You can follow up with them directly.
- Yes, you can split expenses using the app's split bill feature, if the payment was made iVestor VISA card.
Transfers (iVestor)
- Bank account fund transfer may take time to be received or contact support.
- For iVestor-iVestor and bank transfers the daily limit is AED 50,000.
For top-up to xCube, the daily limit is AED 150,000.
- Top up your iVestor account via bank transfer using your iVestor IBAN details and choosing beneficiary bank as Emirates NBD.
- Through the app send funds > bank account > input the IBAN or SWIFT. Domestic (UAE) transfers are available with a fee of 2.10 AED for any local banks except for ENBD, EIB and Liv accounts.
- It can take up to 24hrs. depending on the cut off times of Central bank of UAE.
- Through the app select: send funds > bank account > input the IBAN or SWIFT and it will automatically detect the country. International transfers are available with a fee of AED 42 and beneficiary’s bank and exchange rate fees may be deducted from the entered amount.
- Dividends will be deposited to your iVestor card account only for listed companies who decide to distribute dividends using DFM as the paying agent.
Card Charges
IBAN Account & Debit Card
Free
Balance Requirement
No Minimum Balance
Card Issuance
Free
Account Closure
No charge
Card Replacement
No charge
Card Re-delivery
AED 35.00
Cash Deposit at ENBD ATM
Free
Cash Deposit over the counter in Emirates NBD branch
Free
iVestor to iVestor Transfer
Free
Online Banking
AED 2.00
Cash Withdrawal at ENBD ATM
Free
Cash Withdrawal at any UAE ATM (Other than ENBD Bank ATM)
AED 6.00
Cash Withdrawal at International ATM
AED 25.00
Balance Inquiry at ENBD ATM
Free
POS Transactions within UAE
Free
E-Commerce Transactions
Free
Local outward transfer
AED 2.10 bank charge
International Outward transfer
AED 42.00 bank charge + recipients’ bank may have their own charges
Monthly email statement or app
Free
Up to 3 virtual cards
1 card free, One time fee of AED 15 per additional card
Trading with iVestor
- No, iVestor is not a broker. It facilitates order placement and account management, but execution is done by the partner broker (currently xCube and BHM Capital).
- All trades are executed by the partner broker. Currently, xCube is the sole partner, with more brokers to be added soon.
- Currently, only securities listed on the Dubai Financial Market (DFM) are viewable.
- The graph shows the real-time index performance with selectable time ranges: weekly, monthly, or yearly.
- There is no visible limit. You can organize Watchlists by categories like “Favorites,” “Growth Stocks,” or “Dividend Payers.”
- It shows the top gainers, losers, and high-volume stocks, helping you spot market trends quickly.
- Use the search bar to find a stock and click to add it to your Watchlist for easy tracking.
- Real-time updates from DFM, including general market news, regulatory updates, and corporate disclosures.
- They include dividends, IPOs, mergers, acquisitions, and more—helping investors prepare for key events.
- Indices represent groups of stocks. They help you compare individual stock performance with the broader market.
- Yes, use the search bar in the Explore tab to find securities listed on DFM.
- Tap the file icon next to the event to view related documents like agendas or official letters.
- Yes, use the calendar icon to add event reminders.
- Market Orders: Executed at current market price.
- Limit Orders: Executed at a specific price you set.
- From the main navigation "Trade" button, the company page, or your holdings in the Wallet tab.
- Likely due to missing or expired documents. Contact support@xcube.ae.
- If your xCube account has been upgraded to a margin account, trading through iVestor is currently restricted.
- You need to transfer them to the partner broker (xCube) before placing a sell order.
- Go to “Activity History” in the Wallet tab or company page to view:
,
- Open orders
- Order history
- Transaction statements for your Trading Fund account
- Check the Holdings section in the Wallet tab or within your trading account overview (xCube).
- The app estimates at the upper limit of the price to account for volatility. The actual execution price is confirmed after placement.
- A dedicated account within iVestor used exclusively for trading. You can deposit from your iVestor card and withdraw funds based on available balances.
- Not yet. iVestor is working to onboard more brokers.
- A consolidated view of your:
- Trading Fund Account
- iVestor card balance
- Securities portfolio
- Saving goals
- IPO subscriptions
Apple Pay
Apple Pay, is a mobile contactless payment solution that enables customers to make in-store, in apps, and on the web purchases with select Apple devices. You can use Apple Pay everywhere contactless payments are accepted.
In stores, you can use Apple Pay on your iPhone or Apple Watch. Within apps, you can use Apple Pay on your iPhone, iPad, and Apple Watch. Within websites in Safari, you can use Apple Pay on your iPhone, iPad, and Mac.
- Apple Pay uses Near Field Communication (NFC) to make contactless mobile payments.
- Apple Pay protects your payment info with multiple layers of security, using one of the world's most advanced security infrastructures to help keep your information safe. When you use your phone to pay in stores, Apple Pay doesn't send your actual credit or debit card number with your payment. Instead, a virtual account number is used to represent your information - so your card details stay safe.
- To pay with Face ID, double-click the side button, glance at your screen, then hold your iPhone near the card reader, with your finger on Touch ID.
- To pay with your Apple Watch, double-click the side button and hold your Apple Watch up to the card reader.
- Open the Apple Wallet app on your iPhone, touch and hold down on your iVestor card to drag it to the front of your cards.
- Open settings on your iPhone and tap ‘Wallet & Apple Pay”, Go to “Transaction Defaults” and tap on ‘Default card, the change will be notified with a tick sign.
- If your old card was blocked when you placed a request for replacement, you’ll need to activate and enroll your new card to continue using Apple Pay.
- Yes, you can. Follow the same steps to enroll virtual Card into Apple Pay.
- On iphone:
- In the Wallet app, tap the card that you want to remove.
- Tap the More button , then tap Card Details .
- Scroll down and tap Remove Card.
- On your Apple Watch, tap the Wallet app.
- Tap the card that you want to remove.
- Scroll down and tap Remove.
IPO Subscription
A fee of AED 2.00 per transfer is charged.
Yes, through the Guardian or Legal Representative.
Yes, you can. All DFM investor services can be accessed through a licensed Trading Member of DFM.
Yes, you can through an official Power of Attorney (POA). If the POA is issued outside of the UAE, it must be certified by the UAE Embassy of that country or the UAE Ministry of Foreign Affairs.
You can apply through the following channels:
- DFM App(NIN is issued instantly)
- eServices at www.dfm.ae (NIN is issued within 1 working day)
- Dubai CSD Desk at DFM Trading Floor (NIN is issued instantly)
- Licensed Brokerage Firms at DFM (NIN is issued within 1 working day)
There is no fee for obtaining a NIN.
- Call the Customer Services Affairs on +971 4 305 5555 from the mobile number you have registered with DFM (weekdays 8:00am – 4:00pm) to receive the DFM Investor Number (NIN) immediately over the phone.
- Alternatively, investors can visit the Dubai CSD Desk at the DFM Trading Floor, Rashid Tower, World Trade Centre, Dubai (From 8am to 04:00pm), Monday to Friday.
- Contact your broker
No, it is not required. Your shares will be registered under your DFM Investor Number (NIN). However, to immediately trade with your allocated shares, you will need a registered account with a Trading Member. You can find the list of licensed DFM Trading Members at www.dfm.ae.
- If you subscribed in person at a branch, an SMS and email confirmation will be sent by the bank.
- If you subscribed online through the DFM IPO Subscription Platform, we will send you an email confirmation.
It will be refunded back to your iVestor Card.
An identification number issued for the Investor by Dubai CSD at DFM. This is required for an Investor to hold shares that are traded on DFM, including subscribing to an IPO of a company that will list on DFM.
This depends on your bank, as each bank has its own limit policy.
- Commercial Bank of Dubai (CBD)
- Dubai Islamic Bank (DIB)
- Emirates NBD
- Emirates Islamic Bank
- Abu Dhabi Islamic Bank (ADIB)
- First Abu Dhabi Bank (FAB)
- Mashreq Bank
- Ajman Bank
IPO Upgrade
IPO upgrade (leverage) options increase the chances of higher allocation. IPO upgrade is offered in liaison with our partner Al Maryah Community Bank (Mbank). We recommend you review the below to understand the process and the fees.
The amount of upgrade or the additional subscription amount depends on your initial contribution and the upgrade multiples available.
For example if you want to subscribe AED 5,000 and you decide to use the upgrade facility to provide 2x the capital you added; therefore your subscription will be boosted to AED 15,000. AED 5,000 is your initial IPO subscription and the upgrade is for AED 10,000 (2x your contribution).
The upgrade options are multiples ranging from 1 to 5 times depending on the IPO.
There will be a minimum subscription amount to apply for the IPO upgrade (leverage).
- You will see this option through the DFM app when entering the value of your subscription. The upgrade is applicable to specific IPO’s and may not be available for other IPOs.
The charges and fees levied is a minimum of AED 150.00 plus AED 0.15 per incremental shares allocated.
Example of fee calculation:
Original allocation: 1,000 shares
Additional shares received due to upgrade: 500 shares
Upgrade fee: AED 150.00 + (AED 0.15 * 500 shares= AED 75.00)
Total fee: AED 225.00
The upgrade request will be received and shall remain under process till its approved, adjusted, or not applied depending on the allocation criteria by our partner Bank. You will receive the updates via your email.
The request will remain under process until IPO closure date.
The status of your upgrade will have no impact on your initial IPO subscription.
- Irrespective of the IPO upgrade request status, the subscription based on the initial IPO amount will not be impacted.
- IPO upgrades will be accepted for UAE residents, primary investors (not minors), and individuals (not institutions) only and will not be available to non-UAE residents.
- No, the investor can opt for one upgrade request only.
There are no additional interest or profit charges. The charges and fees levied is minimum of AED 150.00 plus AED 0.15 + 5% VAT per incremental share allocated due to the upgrade.
There are no margin calls applicable.
- No, the IPO upgrade is only available for primary investors.
Our IPO upgrade financing partner Al Maryah Community Bank (Mbank) requires investors to accept their terms and conditions for the account and wallet opening and fill additional information requested during the IPO upgrade journey.
Yes, Mbank will open a wallet account for you during the IPO upgrade process as per UAE Central Bank rules.
No, this wallet account will be used for the upgrade facility option only. If you wish to open a current account with Mbank, you will have to open it with them directly.
Only send the due amount as mentioned in the email, without adding the IPO upgrade amount.
The fee amount will be deducted from the refund amount of the original subscription.