Page Summary
This guide helps users find the best UAE platform for trading with commodities. With the variety of online brokers available in UAE (reliable and non-reliable), it can be difficult for investors to select the ideal platforms for their needs and preferences.
Conducting in-depth research and comparing different services can help traders avoid choosing platforms with a low range of commodities, limited trading tools, high fees, a complex trading interface or unreliable customer support.
This guide assesses 54 online brokers in UAE for users to review and find the ideal platform for their needs. To help them make an informed decision, a list of the best commodity trading platforms in UAE is shared below.
5 Best Platforms for Commodity Trading in UAE
- Interactive Brokers – Best for Day Traders
- eToro – Best For Beginners
- Saxo Bank – Top For professional traders
- TradeStation – Ideal For Futures
- IG Trading – Optimal for Mobile trading
Top 5 Commodity Trading Platforms in UAE Reviewed
Online brokers with the highest rated platforms for commodity trading are reviewed below.
1. Interactive Brokers – Best for Day Traders
Min Deposit: $0
Fees: 4.9
Assets available: 4.9
Total Fees:
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.
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
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.
2. eToro – Best For Beginners
Min Deposit: $50
Fees: 4.8
Assets available: 4.8
Total Fees:
77% 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. eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
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
77% 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. eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
3. Saxo Bank – Best For professional traders
Min Deposit: $2000
Fees: 4.7
Assets available: 4.9
Total Fees:
69% of retail investor accounts lose money when trading CFDs with this provider.
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
69% of retail investor accounts lose money when trading CFDs with this provider.
4. TradeStation – Best For Futures
Min Deposit: $0 ($2000 – Margin account; $25000 – Day Trading account; $5000 – Futures account)
Fees: 4.8
Assets available: 5.0
Total Fees:
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
5. IG Trading – Best for Investors and for Mobile trading
Min Deposit: $5500
Fees: 3.7
Assets available: 4.5
Total Fees:
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
75% of retail CFD accounts lose money
How To Find The Ideal Brokers and Platforms For Commodity Trading in UAE?
Criteria that need to be considered to select the optimal trading platforms for commodities are listed below.
- 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.
Top Commodity Brokers Compared
Key features of online brokers with the highest ranked trading platforms for commodities are compared in the table below.
| Broker | Number of Commodities | Available Trading Platforms | Third-party Integrations | Regulators | Minimum Deposits |
|---|---|---|---|---|---|
| Interactive Brokers | Over 35 global commodity markets | Trader Workstation, WebTrader, IBKR Mobile | Various APIs | Regulated by SEC, FINRA, FCA, and others | $0 for IBKR Lite, $2,000 for IBKR Pro |
| eToro | 32 commodities including oil, gold, copper, wheat | eToro web trader | N/A | Regulated by CySEC, FCA, and ASIC | $200-$10,000, varies by region |
| Saxo Bank | 20 commodity CFDs, futures, options, spot metals, stocks, exchange traded commodities | SaxoTraderGO, SaxoTraderPRO | Various APIs | Regulated by Danish FSA, FCA, and others | $10,000 or equivalent |
| TradeStation | 600 futures and future options and over 10 commodity markets | TradeStation Desktop, Web, and Mobile | Various APIs | Regulated by SEC, FINRA | $2,000 for margin accounts, $0 for cash accounts |
| IG Trading | Over 30 commodity markets | IG Trading platform, ProRealTime, L2 Dealer, and mobile apps | Various APIs | Regulated by FCA, ASIC, and others | $0 |
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.
Conclusion
With the increasing number of reliable and scam brokers in UAE offering different services and conditions, finding the ideal option for individual goals and needs is tough. Weighting and comparing offers from various providers can be stressful and requires time and knowledge.
This guide does the hassle for you by comparing and evaluating the top choices for different types of traders and trading goals. The results of our analysis of the best commodity trading platforms in UAE are wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | Interactive Brokers | 4,9/5 | Day Traders | Official website |
| #2 | eToro | 4,9/5 | For Beginners | Official website |
| #3 | Saxo Bank | 4,9/5 | Professionals | Official website |
| #4 | TradeStation | 4,9/5 | Futures | Official website |
| #5 | IG Trading | 4,2/5 | Investors and Mobile trading | Official website |
FAQ
Is trading with commodities legal in the UAE?
Although there is no specific law that regulates commodities, commodity trading in UAE is legal.
What types of commodities can be traded in the UAE?
Traders and investors in the UAE can trade on a variety of commodities including Energy, Metals, Agriculture, and Livestock.
What are the main commodity exchanges in the UAE?
The main commodity exchanges in the UAE include the Dubai Gold and Commodities Exchange (DGCX), the Dubai Mercantile Exchange (DME), the Dubai Multi Commodities Centre (DMCC), the Dubai Diamond Exchange (DDE), and the Abu Dhabi Securities Exchange (ADX).
Is commodity trading taxed in the UAE?
The UAE tax system does not impose any income taxes on capital income generated with commodity trading.
What is the best commodity trading platform in UAE?
Based on the results from our analysis and comparison, Interactive Brokers is the best platform in the UAE for trading with commodities. They offer access to a wide range of commodities, a variety of commodity trading tools and low trading fees.
What is the best commodity trading platform for beginners in UAE?
Based on the results from our analysis, eToro has the best beginners trading platform for commodities. They offer simple order types, extensive educational materials and copy trading features.
What are the margin requirements for commodity trading in UAE?
Margin requirements for commodity trading in the UAE vary depending on various factors including the specific commodity being traded, the brokerage you’re trading with, and the regulatory environment.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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.