This is the list of the best online trading platforms in UAE. We have prepared it based upon our review of all regulated online brokers .
4 Best Online Trading Platforms in UAE
- eToro – Best Social Trading Platform (Stocks/Crypto)
- IQ Option – Best Stock CFDs & Binary options
- Pepperstone – Best for Forex Trading (MT4/MT5/cTrader)
- XM – Best for Low FX Commisions & MT4
Top Online Brokers & Trading Platforms for UAE Traders
#1 – eToro ⇒ Best for Copy Trading Stocks & Bitcoin
eToro is one of the most popular low commision online brokers in the United Arab Emirates.
It is the number one broker for copy trading.
Company has entered the market back in 2007 and has spent the last 13 years establishing itself as one of the trailblazers in the industry. In fact, their influence was so prevalent that eToro changed the way in which new investors could access and use the financial markets online, no matter their level of expertise. The company was built on user-friendliness above all else.
- Traders can copy automatically all trades of profitable investors
- 1600+ Real stocks from all over the world
- CFDs on 1600 stocks with 1:5 Leverage
- CFDs on Gold, 17 Cryptocurrencies
- Buy Bitcoin with low fees 0.75%
- 46 FOREX currency pairs (1 Pip spread)
- Ease of Use
- Free DEMO Practice Account
- Islamic account available
- very simplistic platform
- no Metatrader 4
eToro AUS Capital Pty Ltd, ABN 66 612 791 803 AFSL 491139. CFDs are highly leveraged and risky, and may not be suitable for all investors. You may lose more than your initial investment. Trading CFDs does not result in ownership of the underlying assets. You should obtain your own advice and refer to our FSG and PDS before deciding whether to trade with us.
#2 – IQ Option ⇒ Best for Binary Options Trading and Forex
IQ Option is one of the most popular UAE online trading platforms. This company is regulated around the world and allows investing in hundreds of different financial assets, including CFDs on forex, stocks, stock indices and all popular cryptocurrencies.
Investing with IQ Option takes place through CFD contracts. When buying, therefore, investors do not buy real underlying assets, but enter into a contract with the broker to profit from the price difference.
IQ Option offers avery user friendly self-made platform for trading .
In fact, clients of IQ Option are very pleased with the design and ease of use.
The platform is easily accessible from both mobile devices and desktop computer.
IQ Option offers a platform with a multi-chart layout, great technical analysis tools , historical price quotes and much more. There is also an interactive chart that can help you to monitor your open trades.
- Wide portfolio of trading financial assets: FOREX, Stocks, ETF Funds, Cryptocurrencies, Commodities
- Free DEMO Practice Account
- Low minimum deposit $10
- Minimum investment $1
- Leverage up to 1:1000
- Competitive Fees
- Fully Regulated
- Islamic account available
- very simplistic, which can be limiting for some clients
- does not support Metatrader 4
- broker does not support EA (expert advisor)
- prohibits certain trading strategies like hedging and scalping
The definition of a trading platform is the software that acts as an intermediary between an institution and a trader, allowing users to monitor and place trades. It often comes with a live feed, research software, charts, educational tools, and many more all-in-one features.
UAE Financial Market
The United Arab Emirates, also known as the UAE, is made up of seven emirates, with each area having unique properties and benefits. However, it is fair to say that Dubai and Abu Dhabi present the economic hubs of the UAE.
The Dubai Financial Market and Abu Dhabi Securities Exchange represent the two main trading Hubs in this part of the world, both of which are regulated by the Securities and Commodities Authority (SCA). Users can trade in a multitude of things on these exchanges, including commodities, equities, securities, stones, derivatives, futures, bonds, metals, and more.
How to Trade in the UAE
Trading in the UAE requires a regulated online broker, preferably one that has a good customer reputation. These brokers usually offer a multitude of different trading accounts, such as:
- FX trading: FX trading is when you trade one currency for another. You can make money on this as the exchange rates chop and change. The Forex market remains one of the most expansive and liquid on Earth, hence why it is so popular.
- CFD trading: CFD stands for Contracts for Difference. This form of trading revolves around derivative financial instrument transactions. To make money, a trader must predict the future for underlying assets.
- Demo accounts: As the name suggests, demo accounts hold virtual money, allowing traders to practice their craft, learn, and develop strategies.
- Islamic accounts:Islamic accounts are for traders who want or need to abide by Sharia law.
With stock trading, you must apply for a NIN investor number if you plan on trading listed securities on the DFM and ADX. Once you have your number, you need to locate a broker that lists stocks on these exchanges. Securities transactions in the UAE are done in AED.
Online Trading Opportunities in UAE
The UAE represents a unique and enticing opportunity for any investor, thanks to its vast range of locational benefits, which include a low tax rate, supportive regulations, a thriving FinTech sector, and a stable political landscape. This is why many cryptocurrency exchanges have moved their bases to the UAE. The United Arab Emirates also ranks at first and seventh on the World Bank’s list, while it has been rated as the 25th best place to start a new business and the 15th best when it comes to locating and maintaining minority investors.