Best Commodity Trading Platforms in UAE 2022

0
Regal Wallet Banner

Our guide to the best commodity trading platforms in UAE and Dubai compares over 100 brokers and trading platforms in 9 different categories. The categories are fees, trading platforms, tradable assets, banking options, regulations, research tools, technical tools, customer support, and Islamic  Learn more about our broker review methodology.

After measuring 214 variables and comparing 3500 data points, these are the best commodity trading platforms in UAE and Dubai.

5 Best Trading Platforms for Commodity trading in UAE

  • Interactive Brokers – Best for Day Traders
  • eToro – Best For Beginners
  • Saxo Bank – Best For professional traders
  • TradeStation – Best For Futures
  • IG Trading – Best for Investors and for Mobile trading
RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1Interactive BrokersDeep research tools for commodities4.9 / 5Best for Day TradersOfficial website
#2eToroTrading platform is intuitive4.9 / 5Best For BeginnersOfficial website
#3Saxo BankCompetitive trading fees and conditions for commodities4.9 / 5Best For professional tradersOfficial website
#4TradeStationCompetitive trading fees for trading instruments; ETCs traded commission free3.7 / 5Best For FuturesOfficial website
#5IG TradingCompetitive trading fees for commodity CFDs and futures5 / 5Best for Investors and for Mobile tradingOfficial website

Top 5 Trading Platforms for Commodity trading Reviewed

01. Interactive Brokers: Best for Day Traders

interactive-brokers-rating

Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.

Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).

Pros:

  • Commodities available as futures, options, CFDs and ETCs
  • No commission trading on ETCs, competitive trading fees for commodity options, futures and CFDs
  • Professional proprietary trading platform with advanced tools for commodity trading
  • Deep research tools for commodities

Cons:

  • Spot metal trading is only available to US citizens

Key features:

  • Margin loan rates on stocks of 1.3%
  • Access to 135+ global markets
  • Advanced order types, tools and features
  • Access to frictional shares
  • Lowest commissions in the industry

02. eToro: Best For Beginners

etoro-rating

eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.

As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.

eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.

78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Pros:

  • Copy trading platform for commodities
  • Commodities available as futures, CFDs and ETCs
  • Trading platform is intuitive

Cons:

  • Options not available

Key features:

  • Sophisticated social-copy trading features
  • Multiple different payment options
  • Crypto exchange and brokerage services on the same dashboard
  • Super fast registration and KYC on-boarding process
  • Zero commission stock trading
  • Great ease of use level

03. Saxo Bank: Best For professional traders

saxo-bank-rating

Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.

If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.

Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.

Pros:

  • Wide range of commodities derivatives as CFDs, futures, options, spot pairs or exchange traded commodities (ETCs)
  • Competitive trading fees and conditions for commodities
  • SaxoTrader Trading platform is available for commodities trading; TradingView also 

Cons:

  • High minimum deposit 
  • Inactivity fee 

Key features:

  • 40.000 tradable symbols available (crypto derivatives, forex options and futures)
  • Advanced account protection and order types
  • Fast execution of trades
  • $2.000 minimum deposit
  • “Best in class” educational resources
  • Great ease of use level combined with advanced features

04. TradeStation: Best For Futures

trade-station-rating

Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.

Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO).  Minimum deposit is $2000 and there are no monthly charges. 

Pros:

  • Commodities available as futures, options and ETCs
  • Competitive trading fees for trading instruments; ETCs traded commission free
  • Professional trading platform for commodity trading with fast trade execution

Cons:

  • CFDs not available

Key features:

  • Access to over 20,000 stocks, ETFs, options, futures, mutual funds, bonds, and other financial instruments.
  • Early-access to newly listed securities via TradeStation’s IPO trading platform
  • Broad range of research and analysis tools for advanced traders like FuturesPlus, TSCrypto, Discover, and Insights
  • Fully paid stock lending and margin trading available
  • Low floating spreads, commissions, and other trading fees
  • Perfect for both beginner and advanced traders

05. IG Trading: Best for Investors and for Mobile trading

ig-rating

IG is one of the largest and most popular regulated forex and CFD brokers globally. Traders can trade thousands of markets using IGs trading platforms like L2 Dealer and ProRealTime or connect their IG brokerage account with MetaTrader 4.

IG offers educational material, daily market update videos, and both technical and fundamental analysis case studies. If you are new to online trading, you can practice with IG’s free demo paper trading account first. For experienced traders IG offers spread rebates and access to more advanced financial instruments like digital options. 

Pros:

  • Commodities available as ETCs, options, futures and CFDs
  • Choice of different trading platforms with advanced trading tools for commodity trading
  • Dep research and educational resources for commodity markets
  • Competitive trading fees for commodity CFDs and futures

Cons:

  • High margin requirements for commodity CFDs and futures 

Key features:

  • Trade over 17,000 markets with a broker that has been in business since 1974
  • Access to Turbo24s, and CFDs and options on forex, indices, crypto, stocks, and commodities
  • Unlimited free demo paper trading account
  • Advanced research and analysis tools like L2 Dealer and ProRealTime
  • Access to APIs to set up Expert Advisors and other automated trading software
  • Receive trading signals and alerts to find excellent entry and exit points

How To Choose The Best Brokers For Commodity Trading in UAE? 

Our list of the best commodity trading platforms in UAE compares brokers available to UAE and Dubai across hundreds of variables including: regulations, fees, banking options, account types, tradable assets, trading platforms, mobile apps, and customer support. 

  • Regulations – Top-rated commodity trading platforms in the UAE and Dubai comply with regulations from the  DFSA, CySEC, BaFin, and ASIC. Don’t trade with unregulated brokers. 
  • Fees – Keep your profits high by paying low fees. Brokers that offer 0% trading fees save money, and make it easy to understand what you pay to trade.  
  • Banking options – Deposits and withdrawals with your broker should be free and fast. Brokers should accept bank wire transfers, e-wallets like PayPal, and credit cards like Visa and MasterCard with no fees. 
  • Account Types – Look for a broker that has account options you like, including Islamic swap-free accounts that are Sharia law compliant.
  • Assets – The best commodity trading platforms in UAE let you trade stocks, forex, crypto, and ETFs plus commodities.
  • Mobile apps – Trade on mobile trading platforms so you can trade whenever you want, wherever you want. Make sure the broker you choose has an app for your mobile operating system, like iOS or Android. 

Customer support – Brokers need to offer 24/7 support with live chat, email, and phone, so don’t accept anything less from your broker’s customer support.

What is Commodity Trading?

Commodity trading means trading hard and soft commodities, and energy, like oil and natural gas. Traders use options and futures contracts for soft commodities like wheat, corn, soy, sugar, cattle, and orange juice. Gold, silver and copper are hard commodities, while WIT and Brent crude oil are energy. Investors trade in gold and other precious metals to hedge against inflation and use soft commodity contracts to drive trading profits. Because the commodity markets have an inverse relationship with the USD market, traders use commodity options and futures contracts to hedge their USD positions. 

How to Trade Commodities

You can trade commodities via futures contracts, ETFs, CFDs, stocks, and currency derivatives. 

  • Futures contracts – Futures contract traders agree to buy or sell a commodity at a given price in the future. 
  • ETFs – ETFs are large baskets of financial assets. With commodity ETF trading investors spread risk across many commodities, like all the precious metals, or all the softs.  
  • Stocks – Investing in commodity-related stocks is an indirect way of gaining exposure to commodities. If you buy shares in a gold mining company, you indirectly invest in the gold price.
  • Options – Investing in commodity options contracts gives you the right but not the obligation to buy or sell an asset at a certain price on a given date in the future. 

Currency derivatives – With currency derivatives you can hedge commodity exposure via USD-based derivatives.

Final Verdict 

Our research shows that Interactive Brokers, eToro, Saxo Bank, TradeStation, IG Trading are the best commodity trading platforms in UAE.

FAQ 

What is the best commodity trading platform in UAE?

Interactive Brokers is the best commodity trading platform in the UAE.

What is the best commodity trading platform for beginners?

We recommend beginner traders eToro because it offers them a lot of educational material and its intuitive trading platform.

With which leverage should I trade commodities?

The more leverage used, the higher the risk of loss. Trade with higher leverage if you can accept higher losses. 

What commodities can I trade?

Brokers allow you to trade silver, gold, copper, wheat, sugar, and soybeans, and depending on the broker, energy like crude oil, natural gas, and ethanol. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleBest Crypto Exchange In Turkey
Next articleBest Crypto Exchange In The Philippines
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here