How can I find stocks?

You can find stocks on baraka using a variety of methods. Let’s explore a few:

The Search Bar, Popular Stocks, New Stocks, Sectors.

The Search Bar is your best friend when it comes to exploring the investment universe. You can use it to scout over 4500 stocks available to trade on baraka.

How can I find the search bar?

You can find the search bar by following the steps below:

  1. Go to the Discover tab by clicking on the compass icon on the menu bar at the bottom of your screen.
  2. Find the search bar on the top of the Discover screen

Using the Search tab, you can search for stocks using the names of the companies (Apple, Tesla, Amazon) or their tickers (AAPL for Apple, TSLA for Tesla or FB for Facebook)

The Search Bar is followed by sections of stocks segregated on various various metrics – what’s popular, what’s trending, new stocks added to baraka, stocks classified sectorally, thematically and much more.

How can I add stocks to my watchlist?

Once you’ve created your watchlist, the next step is to add stocks to your watchlist. You can do so by following the steps below:

  • Click on the compass icon on the menu bar to navigate to the Discover page.
  • Navigate to the top of the screen to find the Search Bar
  • Click on the search bar to search for a stock of your choosing, for example, Apple
  • Click on the stock’s bar in the search dropdown to access the stock’s page
  • Click on the watch button on the top right hand corner.
  • Select the watchlist you want to add the stock to.

How can I search for stocks?

You can search for stocks on baraka by following the steps below:

  1. Head over to the discover page on the application by clicking the compass icon on the menu bar.
  2. You will find a search bar at the top of this page.
  3. Click on the search bar to browse over 4500 stocks and ETFs on the baraka application.

You can search for stocks either by their names or ticker symbols. For example, you can search for Amazon by either typing out the name in full, or its ticker symbol AMZN.

How can I view my portfolio?

To view your portfolio on baraka, navigate to the portfolio page by following the steps below:

  • Click on the wallet icon on the bottom left hand corner of the screen.
  • The portfolio page shows you the total value of your portfolio,
  • This page will show you a complete breakdown of how much money you have invested in each instrument (in each stock or ETF)

How do I buy a stock?

You can buy a stock on the baraka app by following the steps below:

  • Choose which stock you’d like to buy using the search bar or one of the sections on the discover page.
  • Click on the stock’s tab to open up the stock’s page
  • Scroll down to find the buy button
  • Click on the buy button
  • Enter the dollar amount of stock or the number of shares you’d like to buy.
  • Click on Confirm
  • Review your order on the pop up
  • Reconfirm to place your order

How do I sell a stock?

In order to sell a stock, follow the steps below:

  • Go to the Portfolio section on the app by clicking the wallet icon to the left on the navigation bar
  • Scroll down to the investments section to see the list of stocks and ETFs in your portfolio
  • Choose the stock you want to sell by clicking on the relevant stock tab
  • Scroll down the stock’s page to the sell button
  • Click on the sell button
  • Enter the dollar amount of stock or the number of shares you want to sell
  • Click on Confirm
  • Review your sell order on the pop-up
  • Reconfirm to place your order.

What is a market order?

A market order is a request from an investor to buy or sell a security at the best available price in the current market. It is widely considered the fastest and most reliable way to execute a trade (either buy or sell). A market order is the most likely method to enter or exit the market quickly.

Market orders are executed at the going asking prices for a security in the market. Meaning, that market buy orders will be to purchase the security at the going ask price in the market, and market sell orders will be to sell the security at the going bid price in the market.

Market orders are filled nearly instantaneously for securities traded in very high volumes – such as large cap stocks and ETFs.

What is a limit order?

Placing a limit order is done when investors do not want to execute trades at the going prices in the market. In other words. Limit orders are placed by investors keeping a target buy or sell price in mind. Investors may want to buy the stock at a lower target price than that currently in the market. Similarly, Investors may want to sell a stock they currently own when the stock reaches a target price, which is above the current market price. This is called a limit sell order.

See how you can place a limit order on baraka

How can I place a limit order on baraka?

To place a limit order on baraka, follow the steps below:

Head over to the Discover tab and find the stock you’d like to place a limit order for

Once on the Stock’s page, scroll down to find buy and sell buttons

Limit Buy Order

  • If you’re looking to place a limit buy order, click on buy
  • On the buy page, click on the limit order block
  • Enter the target price per share (at which you’d like to buy the stock), and the number of shares you want to purchase
  • Click on Confirm
  • Review your limit order in the pop up dialogue box and reconfirm to place your order

Limit Sell Order

  • If you’re looking to place a limit sell order, click on sell
  • On the sell page, click on the limit order block
  • Enter the target price per share (At which you’d like to sell the stock), and the number of shares you’d like to sell
  • Click on Confirm
  • Review your limit order in the pop up dialogue box and reconfirm to place your order

What is a stop order?

A stop order is an order to buy or sell a security when a security moves past a particular point, ensuring a higher probability of achieving a predetermined entry or exit price, limiting the investors loss locking in profits.

Stop orders can be used in 2 ways:

  • Stop Loss Order: Stop loss orders are essentially limit sell orders for the stocks you hold in your portfolio, set at a price below the current market price. This is the price at which you would sell the security. By putting in a stop loss order, you are limiting your losses. Stop loss orders are designed to limit an investor’s loss on a position that makes an unfavorable move.

    The advantage of building in stop loss orders is that you don’t need to monitor your portfolios consistently.

    The disadvantage of stop loss orders is that a short term price fluctuation could activate the stop loss order and trigger an unnecessary sale.

  • Trailing Stop Order:  Trailing stop orders are limit sell orders used to lock in profits. In execution, they are exactly the same as stop losses. The only difference is that limit sell orders are called trailing stops when you have a favorable position (an unrealized gain or profit) and want to realize these profits by selling the security if it shows an adverse downward movement.

You can build a trailing stop based on your investment style and risk apetitite. As an active trader, you can use a 5% level (choose to sell your stock in the event of a 5% decline), while as a long-term investor, you can use a larger level – 15% or 20% for instance.

What is a trailing stop order?

Trailing Stop Order:  Trailing stop orders are limit sell orders used to lock in profits. In execution, they are exactly the same as stop losses. The only difference is that limit sell orders are called trailing stops when you have a favorable position (an unrealized gain or profit) and want to realize these profits by selling the security if it shows an adverse downward movement.

You can build a trailing stop based on your investment style and risk apetitite. As an active trader, you can use a 5% level (choose to sell your stock in the event of a 5% decline), while as a long-term investor, you can use a larger level – 15% or 20% for instance.

What is the difference between open and executed orders?

Open orders are orders waiting to be executed. These orders are not executed as yet owing to an unmet requirement. As is the case with limit buy or sell orders, investors have the flexibility to place orders that remain open or unexecuted until their specified condition (Target price) has been satisfied.

Because open orders are often conditional, many open orders are subject to delayed executions since they are not market orders (they are not executed at current market prices)

How can I change the base currency on the baraka app?

You can change the base currency on the baraka app by following the steps below:

  • Click on the Profile Icon at the bottom right of the screen
  • Scroll down in the profile section to the settings tab
  • Click on the Settings Tab
  • Click on Currency Converter
  • Change your currency preference by choosing one of the options on this page

Baraka currently supports USD, AED, SAR and KWD as base currencies.

What are available, unsettled and reserved cash balances?

The total cash in your account is divided into available to trade cash, unsettled amount and a reserved cash balance.

Available cash: Available cash includes the funds in your account available for trading. These funds constitute the withdrawable balance in your account.

Unsettled Funds: Money from your recent sell orders that hasn’t settled yet. Do note that the settlement of these trades is not instant, the transfer of unsettled funds to your account (Settlement) usually takes upto 3 trading days.

Reserved Cash: Money reserved for your queued buy orders.

There are a lot of bugs on the application – how can I report them?

We’re glad that you’re identifying gaps in the application. You feedback is incredibly valuable as it helps us optimize the application, keeping your needs and preferences in mind. The beta stage is meant to identify and fix these glitches.

You can help us fix bugs on the application by shaking the device and clicking on “report a Bug” or emailing us at support@getbaraka.com