Best Online Broker in the UAE: Ultimate Guide

Venturing into the world of online stock trading can be as thrilling as it is daunting.

If you’re an expat in the UAE looking for the best brokers to set sail on your trading journey, look no further!

We’ve curated a list of top-notch online brokers that not only accept traders on the Emarati stock market but also allow you to dabble in an array of stocks from tech to small-cap.

Get ready to dip your toes into the exciting currents of stock trading!

Overview Of The Best 15 Online Brokers In UAE

  • eToro is the best broker in UAE. Great for copy trading. Regulated by the highest authorities. A wide range of investments.
  • Avatrade is in second place. Low fees and commissions. Great for Forex and CFD trading.
  • Interactive Brokers is in third place. Established broker established in 1978.
  • Pepperstone took fourth place. Best for Low Forex Spreads in UAE.
  • IQ Option is in fifth place. Real shares without commission. Low fees for Forex CFDs.
  • Saxo Markets – A wide range of investment options.
  • OctaFX – An award-winning international stockbroker.
  • Capital.com – The overall best trading platform in the UAE
  • Crypto.com – Buy and sell cryptocurrencies with low fees.
  • Kraken – A secure cryptocurrency trading platform
  • Binance – Trade over 600 crypto assets
  • Libertex – An award-winning trading platform
  • Forex.com – Powerful Forex Trading Platform
  • XTB – Excellent platform for high-volume trading
  • BitOasis – Trade cryptocurrencies in the MENA region

This guide will look at the best international online trading platform in the UAE and Dubai.

We have analyzed and researched hundreds of brokers based on various factors and compared every aspect of their services, focusing on security, fees and commissions, trading platform, regulation, investment offerings, trading tools, deposits and withdrawals and more.

Brokers have to meet a certain criteria to be considered in the following list.

How To Choose An Online Trading Platform?

When choosing a UAE stock trading platform, you should consider the following factors:

  • Overall great service
  • Ordinance
  • Safety
  • Fees and commissions
  • Assortment of products
  • Account opening process
  • Deposits and withdrawals

eToro – Great Alternative Trading Platform

eToro was released in 2007 and has since grown to serve more than 27 million users worldwide. With over 70 different cryptocurrencies, 49 currencies and nearly 3,000 stocks, eToro is loaded with investment-ready assets.

As a regulated broker, eToro takes the protection of its customers very seriously. It cloaks all sensitive information using SSL encryption before leaving the client device, preventing attackers from intercepting any data.

Cold storage is used to secure assets, and eToro users have the complete option to set up two-factor authentication as a security measure.

eToro uses a transparent fee structure that is fair to all investors. Crypto assets have a flat 1% trading fee (excluding spread). Shares have zero commission, and CFDs have variable spreads. UAE residents can only deposit $50, making eToro a very accessible platform.

With a number of educational materials and copy trading features to aid and assist users learn to brand new trading strategies, it is still deemed as the best trading platform for beginners.

In addition to its beginner-oriented features, eToro also offers setting up Islamic account with access to leverage and different charting tools, making it a really wise choice for Islamic investors.

All in all, eToro is a top contender for being the platform with features that will seem appealing to investors of all experience levels.

It has all the major asset classes, making it the best trading platform in the UAE for anyone who wants to trade a large number of assets.

AvaTrade – Best Forex Broker In UAE

AvaTrade is ranked second as the best broker for Forex traders in the UAE. Their trading platform and mobile apps are some of the best and most intuitive, with a plethora of features.

Choose AvaTrade if you are searching for a reliable low-fee CFD broker that operates in Forex, Crypto, Stocks, Commodities, Indices and more.

AvaTrade is a cimmmonly well-known broker that originated in 2006 under the name ‘AvaFX’. The company has since rebranded as AvaTrade and added support for a number of markets outside of Forex.

AvaTrade said they are “fully dedicated to the safety of your funds” and, as such, has implemented a number of advanced security features. 256-bit SSL encryption is implemented throughout the site, plus McAfee Secure is used to protect credit/debit card information.

Although AvaTrade does not charge commission-free fees, it instead uses a variable spread system, so it pays to check in advance how far above the market price an asset is before trading it.

While AvaTrade lacks the number of assets offered by some of the other platforms we have discussed, it is one of the best MT4 trading platforms out there.

Although AvaTrade lacks the wealth of assets offered by some of the other platforms we have discussed, it is one of the greatest and efficient MT4 trading platforms that provide all their clients with a comprehensive trading experience with rich features.

Interactive Brokers – Well-Established And Best-Regulated Broker In The UAE

Interactive Brokers is one of the best picks for UAE traders. IBKR was founded in 1978 and is regulated by the highest authorities worldwide.

It gives you access to global markets with 135 markets in 33 countries. In addition, it boasts sophisticated trading technology, in-depth fundamental analysis and industry-leading commissions that include gross margin rates that are seemingly as low as you can find at all balance levels.

It is highly recommended to try IBKR for day trading, options trading, futures, professional trading and mobile trading. There is no minimum deposit!

Interactive Brokers offers stocks, ETFs, options, futures, FOP, Forex, cryptocurrencies, current spot gold, bonds, mutual funds and hedge funds.

They have just released their Global Trader, which is a brand new intuitive and easy-to-use trading platform.

Pepperstone – The Greatest Low Spread Forex Broker In UAE

Pepperstone has quite the reputation in Forex and CFD trading platform is known for its quick account opening, various social copy trading platforms, low margins, high-quality research and excellent trading tools.

Algorithmic traders and copy traders alike will be happy with their MetaTrader and cTrader offerings.

At Pepperstone, you can make sure to trade a variety of assets such as Forex, CFDs, indices, cryptocurrencies, stocks and commodities. Pepperstone offers excellent customer service as well as an award-winning suite of educational resources.

Combined with Pepperstone’s Active Trader program for high-volume traders, the broker offers exceptional pricing on its Razor account.

The standard account, on the other hand, is less impressive and has higher spreads.

IQ Option – The Best For CFD Trading

Low spreads, free demo accounts, an advanced trading interface and fast customer service are some of the things that distinguish IQ Option as the best online trading platform for options trading.

This broker is a fantastic choice for traders looking for a user-friendly, feature-rich options investment platform. It has a wide range of charting tools to help you predict future market movements.

IQ Option offers you seamless trading through their own web, mobile and desktop platforms. All of them will be popular with both experienced and novice traders.

Finally, this CySEC-approved broker adheres to the strictest regulatory and security standards in the industry, which is a big plus!

Saxo Markets – Best For High Net Worth Investors

Saxo Bank is a premium multi-asset broker with a superior trading platform and research, not to mention the diversity of over 40,000 securities.

With Saxo Bank, you can enjoy a rich trading experience with a wide range of tools and premium services for active traders.

Saxo Markets is part of a Danish investment bank established in 1992. It provides its clients with an excellent platform for trading, research and education.

On the other hand, their fees are high for some products. Saxo Markets has a minimum deposit of $2,000, which few can afford.

UAE-based traders can use Islamic accounts to trade in accordance with Sharia law. Saxo Bank offers quality customer service that leaves you with satisfactory answers, offered in Arabic via email or in person at local offices.

The fact that Saxo Bank is regulated by the highest financial regulators, as well as the fact that it has a banking background and a long history, are positive indicators of its safety.

Capital.com – The Overall Best Trading Platform In The UAE

Founded in 2016, Capital.com is a global broker regulated by several leading regulatory bodies, including the FCA, CySEC and ASIC.

Capital.com has made sure to implement some impressive features to protect their users. The market-leading broker is fully in line with PCI Data Security Standards, which means that client information is encrypted using Transport Layer Security.

In addition, clients benefit from negative balance protection and margin closing, which ensures that it is impossible to lose more than was initially invested.

To stay competitive, Capital.com offers full commission-free trading and no withdrawal/deposit fees. Instead, Capital.com charges an extension fee that is already factored into the price of the asset. There are some nightly fees, but only for leveraged positions.

Stocks, commodities and Forex are available for trading on Capital.com, with only cryptocurrency missing from the platform.

Capital.com’s Investmate app is not just a phenomenal educational resource to help beginners learn how to trade but if that wasn’t enough, Capital.com is an MT4-compatible trading platform, meaning traders have access to all major indicators.

Capital.com is an incredible choice for anyone looking to trade traditional financial markets!

It’s well-designed and relatively easy to get used to, so beginners will have little or no trouble when using the platform for the first time. In addition, it has an entire team that is dedicated to market research and analysis, so the broker’s clients will always be able to make informed decisions.

With plenty of market research and increasingly low fees, Capital.com is perhaps one of the best stock trading platform out there.

Crypto.com – Buy And Sell Cryptocurrencies With Low Fees

With over 50 million users worldwide, cryptocurrency specialist Crypto.com is still one of the biggest broker and trading platforms in the world. It is a specialized crypto exchange with over 250 altcoins, so you can choose from a lot of potential investments.

Security at Crypto.com is excellent. 100% of their clients funds are kept offline in complete cold storage, with only company funds used to keep the platform running in internet-connected wallets.

In addition, all transactions are now protected using multiple-factor authentication (biometric, password, authenticator, etc.), which makes it extremely difficult for an attacker to take over your account.

It is relatively cheap to buy and sell on Crypto.com. It only charges 0.4% trading fees, which means that investors won’t be left asking around where the rest of their assets have gone. However, purchases using debit/credit cards still incur high fees – a 2.99% fee.

The platform is well designed, but it can be a little confusing at first because the Crypto.com app and the exchange work as two separate platforms. Therefore, investors have to transfer funds manually when they want to use another platform.

Although the Crypto.com app only has basic trading features, the exchange has a whole good range of order types and a plethora of charting tools, making it one of the best cryptocurrency trading apps in the UAE.

Kraken – A Secure Cryptocurrency Trading Platform

Kraken is a well-designed crypto and FX exchange with a clear focus on client security. Founded in 2011, it is now home to over 9 million clients in over 190 countries.

To keep all the clients safe, Kraken adheres to strict security policies. 95% of client funds are kept and stored in cold storage, and Kraken serving boxes are locked in secure cages with 24/7 security.

In addition, Kraken has made 2FA more secure by disabling SMS authentication (which can be hacked or spoofed) and sticking to dedicated authenticators like Authy.

Fees on Kraken are, unfortunately, above the traditional industry standard, with a small 1.5% fee imposed on any sort of crypto or FX purchase and 0.9% for stablecoins. In addition to high transaction fees, Kraken charges an overall credit/debit card transaction processing fee of 3.75% + $0.25.

Kraken is quite the platform for trading crypto or Forex. While the fees are high, the extra security measures are likely to be worth it for some investors.

That’s why we recommend Kraken for security-conscious traders.

Binance – Trade Over 600 Crypto Assets

Binance is one of the main and best crypto exchanges in the UAE. With over 90 million users worldwide, Binance is a true trading titan. It is one of the best cryptocurrency online trading platforms currently with over 600 assets, which means there will always be plenty of opportunities.

Unfortunately, Binance is somewhat non-transparent in terms of security measures. While this is understandable, it is always better how the stock market protects its investors.

Binance’s incredibly low trading fees of 0.1% helped offset its secrecy, but its credit/debit card fees of 1.85% are higher than most platforms we looked at.

As you’d normally expect from the world’s leader in virtual crypto exchange (by volume), Binance is packed with a wealth of different trading features, including several order types and advanced charting tools courtesy of TradingView.

There is even a dedicated market for NFT enthusiasts!

For cryptocurrencies, Binance is easily one of the most efficent and best trading apps in the UAE.

It has everything you would expect from a market-leading exchange and more.

The only downside is that Binance is exclusively a virtual cryptocurrency trading platform, so investors all around the world are looking to trade multiple asset classes on one platform would be better served with an all-in-one broker like eToro.

Libertex – Award-Winning Trading Platform

Libertex has been operating since 1997 and has more than 2 million clients and over 25 years of experience as a broker. It offers a wide range of assets, including cryptocurrencies, stocks, commodities and Forex.

As you would expect from a professional broker with decades of experience, Libertex is supervised and adheres to strict regulations regarding the segregation of client funds and the protection of customer information. Libertex fees are reasonable.

The broker does not charge spread fees, however, instead of sticking to a commission-based structure, the fees vary widely between assets but will tend to be between 0.008% and 2.5%.

There is a variety of payment methods available on Libertex, all of which are seemingly free.

There are too many list here, but the most used are bank transfers, e-wallets (PayPal, Skrill) and credit/debit cards.

With this, the access to every financial market and the ability to create an Islamic account, Libertex is seemingly one of the few best trading platforms in the UAE.

Forex.com – Powerful Forex Trading Platform

Founded in 2001, Forex.com has gone out to grow to support various asset classes beyond its namesake, including stocks, cryptocurrencies and commodities.

Forex.com is part of the Stonex Group, a publicly traded company. For this reason, Forex.com is regularly audited and must comply with strict consumer protection regulations. In addition, Forex.com keeps all client funds separate from its own and never uses customer funds for collateral.

Forex.com only charges commission fees for CFD trades, which means that most trades will only be charged for the spread.

As expected from a certified platform called “Forex.com”, it is truly considered as one of the best forex trading platforms.

With MT4 support and plenty of built-in tools for charting, technical indicators and quick order execution, it’s great for technical traders. Additionally, its highly comprehensive fee structure which makes it a great low-cost platform.

XTB – Excellent Platform For High Volume Trading

Founded in 2002, XTB is a Polish broker that offers low-cost CFD trading. In the UAE, it is regulated by the Dubai Financial Services Authority (DFSA), which means it is extremely safe.

When it comes to security, XTB isn’t really all that revolutionary, but it’s still secure. The platform has integrated industry-standard techniques, such as the segregation of monetary funds, to keep clients safe.

However, it is also traded on the Warsaw Stock Exchange, which means that, like Forex.com, it is often regulated, and the company’s financials are public knowledge.

XTB fees are as low as just 0.008%, but with a total of $8 minimum, the platform isn’t great for small-volume traders. Most deposits are free or cheap. However, the funding with debit/credit card will cost an extra 2%.

It is also a great publicly traded exchange rate and the best online stock broker trading platform in UAE for high-volume traders. It has a solid and viable track record, and there are regular audits that provide an extra layer of customer protection.

BitOasis – Trade Cryptocurrencies In The MENA Region

BitOasis is a crypto exchange designed to serve the countries in the Middle East and North Africa (MENA) region. Founded in 2015, it has grown to support over 100,000 users.

Although it operates throughout the entire MENA region, AED is the platform’s default virtual currency and is used for all purchases.

BitOasis adheres to the highest level of security standards and uses cold storage to secure client funds and protect them from digital attacks.

In addition, BitOasis uses a third-party company called BitGo to maintain control over clients’ private keys, meaning that even BitOasis itself cannot access customer funds in bad faith.

With reasonable fees of just 0.48% for receiver orders and 0.24% for creator orders, BitOasis is a cost-effective way to buy cryptocurrencies with AED.

For many investors based in the MENA region, BitOasis is considered a good choice. It is safe, cheap and user-friendly.

However, the lack of fiat options (AED only) leaves something to be desired.

Online Trading In The United Arab Emirates

Online trading in the UAE has two regions: DIFC (Dubai International Financial Centre) and the rest of the UAE.

Regulators in the UAE include the Central Bank of the United Arab Emirates (CBUAE) and the Dubai Financial Services Authority (DFSA).

Online trading became popular after the rally of GameStop stock and similar events that caused the rise in the popularity of online trading.

GameStop investors showed the power of “small investors” and how they can go against Wall Street using simple trading platforms and apps.

Traders in the UAE must apply for an Investor NIN if they wish to trade securities on the Dubai Financial Market. The NIN number allows traders to trade on the ADX and DFM exchanges. Transactions are settled in AED.

How To Verify Regulations In UAE

In the United Arab Emirates, the main regulatory body is the UAE Securities Commodities Authority (SCA). The SCA regulates all non-banking financial activities such as forex, crypto and CFD trading.

To verify that a broker is regulated, visit the Securities and Exchange Commission’s website.

Choosing the best trading platforms in the UAE can be overwhelming for novice investors. There are so many options, all of which come with unique features and different fees.

To make the selection process easier, we have researched and reviewed a few of the greatest online trading platforms in the UAE and provided a guide to choosing the broker/exchange that best suits individual investors’ needs. Let’s dive in.

Have you ever wondered what the best forex broker in UAE is? Avid forex traders may be pleased to know that Capital.com is one of the greatest forex online trading platforms in the UAE.

Products To Trade Through UAE Brokers

UAE brokers offer a wide range of products on their brokerage platforms and trading apps. Below are the products that traders can trade online:

Stocks And ETFs

Traders can invest in their choice of UK, US and global stocks and ETFs. Traders can also opt to invest in dividend stocks to get a passive income stream.

CFDs

CFDs (or Contracts for Difference) allow traders to trade stocks and many other financial instruments without owning them. Traders are only required to bet on price movements.

CFD trading gives traders the leverage that allows them to open larger positions with extremely low resources and earn profits as if they were trading with large capital.

Cryptocurrencies

The crypto market has been the fastest growing financial market in recent years. It continues to muster up quite the popularity at a very quick pace due to the significant profits traders are making through cryptocurrencies.

Forex

Using Forex, traders can trade currencies to profit from price fluctuations and earn income. The foreign exchange is the largest trading financial market in the world.

What to look for in a broker in the United Arab Emirates

When looking for a broker from the United Arab Emirates, you can follow these guidelines:

Broker Regulations

Look for a regulated broker as it is always a better opportunity for traders in the UAE as there are no taxes involved. It also applies to other nations.

The main regulatory body for UAE Forex is the main Central Bank of the United Arab Emirates. Regulated brokers are usually registered with their country’s financial regulatory authority.

UAE regional forex brokers are regulated by the UAE Central Bank, which proves to be helpful for UAE traders.

The Forex market has quite the distinctive quality that many market makers tend to use to attract traders.

Brokers buy and sell orders and execute them in the capital market. Based on solely the dealer, traders may be charged different types of commissions such as variable commissions etc.

To find out if your chosen broker is UAE regulated, visit their website and review their “About Us” page or their footnotes. These sections must include their full registration number along with the regulatory body they are registered with, such as the DFSA (or Dubai Financial Services Authority).

UAE Currency Support

The national currency used in the United Arab Emirates is the United Arab Emirates Dirham (abbreviated as AED). An affluent local population combined with a favorable business environment has significantly helped create a strong business market.

Safety

Most of the requirements for choosing a whole new UAE broker in the foreign exchange industry are simple but essential. One of the most popular of these is guaranteeing the safety of your funds.

Traders must opt ​​for a reputable broker that puts security above all else. Such brokers will handle your finances carefully to avoid unnecessary losses.

Business Fees

Any broker you deal with will normally earn income through bid-ask spread costs, surcharges and commissions. Other fees include trade volume fees, overnight fees, fees for using third-party tools, and inactivity fees.

Offered Platform

When deciding which platform to choose, investors and traders must consider the cost as well as the features provided. DIFC (or Dubai International Financial Centre) as well as ADGM (or Abu Dhabi Global Market) based in Abu Dhabi are funds free zones that offer foreign exchange trading services to clients.

You need to pay attention to useful indicators such as platform authorization, preferred different commission and trading styles (with advanced options) on the trading platform.

Withdrawals And Deposits

Choose the best Forex brokers known especially for their easy withdrawals and deposits. Also, consider avoiding brokers that are known to make their clients wait a long time to get their funds back after withdrawal requests.

Commendable Customer Service

Good customer support is essential for both the newer traders along with the professional traders. The customer support service had offered should be able to resolve technical issues related to services and different products as soon as possible.

You can test the customer support of your potential broker by speaking to their representatives and learning more about their codes of conduct and fees.

Ordinance

Regulation is always worth considering when choosing the best trading platform in the UAE. It is important to only invest in regulated exchanges, as unregulated platforms offer little consumer protection.

Range Of Assets

To be deemed as one of the best trading platform in the UAE, a large number of assets is a must.

There is nothing worse than signing up with a new broker/exchange only to find that a popular asset is missing, and investors cannot buy shares.

More assets mean an increased number of business opportunities.

Fees

Choosing a platform with low trading fees is a must. If the platform takes 2-3% on each and every deposit or Trade is made, the fees will quickly translate into profit. We’ve included a handy chart comparing each platform’s fee structure to make it easier to see how each broker stacks up against the other.

Tools And Analysis

The core of any stock exchange is its multiple tools and features. Having a wide array of selection of trading/charting tools is essential for any exchange since it seems to allows investor to precisely plan their buys/sells to get the greatest value.

In addition to trading features, each exchange has its own different set of unique features that could quite literally make your life easier.

Because every exchange is different, investors should really think about their goals to get a clear cut idea of ​​which features would really be best suit their individual needs.

Demo Account

Learning to trade is hard. To make things much easier and way less stressful, it might be a good idea to trade with a demo account to gain some experience.

In this way, it is possible to practice trading and improve strategies without wasting money.

Mobile Application

Gone are the old days of sitting at a desk and trading on a PC.

In the modern world, people often do business on the go, so a well-designed mobile app is a must.

You should check that all the important buttons/sections are easily accessible and that the same functions are available on mobile and laptops.

Payment Methods

To be considered as one of the firms competing for best trading platform in the UAE, a broker must have a variety of deposit methods and support local currencies. Ideally, the best business app in the UAE will support credit/debit card deposits as well as bank transfers and e-wallets.

In order to buy bitcoin cheaply, the most important thing is to make sure the platform supports bank transfers, as they tend to have some of the lowest fees at 0-1.5%.

Customer Service

“The customer is always right” still holds true in the trading industry.

At some point, and while every investor has some sort problem or question that they cannot find the answer to on their own.

This is where it is essential for an exchange to have excellent customer service. No one wants to wait days for a response, especially when funds are at risk.

To avoid any potential issues, make sure the exchange is responsive and ideally offers live chat/phone support 24/7.

Types Of Trading Platforms

There are many types of trading platforms available in the UAE and internationally. Depending on the investor’s preferred asset class, some platforms offer better features or a wider range of assets.

Crypto

Cryptocurrencies are perhaps the most interesting asset class of recent times. It’s a very volatile market, so it’s perfect for day trading. Fees on cryptocurrency trading platforms tend to be slightly higher than average, and many provide access to up to 50x leverage.

Check out our guide to buying bitcoins in the UAE.

Stocks And ETFs

Stocks are the most popular and common form of investment, so there are multiple platforms to choose from.

Brokers usually charge for a lot more for things like holding trades overnight and being inactive.

However, most of these platforms these days offer no commission cost on NYSE/NASDAQ type stock purchases, and some, like eToro, also allow investors to trade multiple markets (crypto, stocks, ETFs, Forex and commodities).

Forex

Forex trading is seen as the act of buying and selling currencies. Price changes are usually much smaller than cryptocurrencies or even stocks, so it’s important to have access to a lot of leverage.

The Forex industry is extremely regulated, so it usually has stricter requirements than other financial markets. For investors who plan to trade in Forex, it may be a good idea to read about the best forex brokers.

Commodities

The commodity market primarily consists of a lot of things such as gold, silver, and natural gas.

Commodities are considered a big investment right now, so it’s the perfect time to check out our guide to trading commodities.

While UAE investors have plenty of options for different commodity trading, eToro is a great choice as it is regulated and offers a plethora of low spreads.

Day Trading

Day trading stocks is usually a short-term strategy, so as with Forex, a leveraged approach can be useful.

The problem is that finding a platform that provides leverage in accordance with Islamic law can be seen as extremely difficult.

However, eToro offers systems with an Islamic account with undue access to a full interest-free leverage and no Riba in any form.

Conclusion

From eToro’s copy trading to Capital.com’s overall trading experience, we’ve wrapped up the creme de la creme of online brokers in the UAE.

Our comprehensive guide has examined each broker from multiple angles, ensuring a detailed evaluation based on security, fees, regulations, and more.

Whether you’re a trading novice or a seasoned investor, we’re confident that our curated list provides a broker that fits your unique trading needs and aspirations.

Happy investing!