Best Gold Trading Platforms in UAE

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In this guide we break down the best gold trading platforms in UAE. We used our database of 55 online brokers which offer gold trading and compared them across 9 categories. The categories we used include number of gold markets, customer support, platforms, gold trading fees, mobile trading apps, deposits & withdrawals, research & education on gold, regulation, and islamic account availability.

Our analysts used 214 variables to evaluate the brokers across 3500 data points! Based on our approach, the following are considered as the Best Gold trading platforms in UAE

5 Best Gold Trading Platforms in UAE

  • IC Markets – Best fees for gold trading
  • Interactive Brokers – Best for active traders
  • IG – Best for Mobile trading
  • eToro – Best For Beginners
  • Ava Trade – Best for Research and Education
RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1IC MarketsGreat Customer support4 / 5Best fees for gold tradingOfficial website
#2Interactive BrokersVery competitive trading fees 4.9 / 5Best for active tradersOfficial website
#3IGVery good on research and education 5 / 5Best for Mobile tradingOfficial website
#4eToroGreat Social trading service 4.9 / 5Best For BeginnersOfficial website
#5Ava TradeGood choice of social trading options 4.8 / 5Best for Research and EducationOfficial website

Top 5 Gold Trading Platforms in UAE in Overview:

Below we break down the top gold trading platforms and share the pros, cons and key takeaways.

01. IC Markets: Best fees for gold trading

ic-markets-rating

IC Markets is an ASIC and CySEC-regulated broker operating globally. With IC Markets you can trade forex, CFD, and crypto with up to 1:500 leverage. IC Markets has over 2,000 tradable assets and charges low, floating spreads from 0,0 pips. 

IC Markets has multiple trading platforms available and is compatible with MetaTrader, cTrader, myfxbook AutoTrade, and ZuluTrade. Professional traders can open a Raw Spread, Standard or Islamic account at IC Markets, whilst beginners can practice trading with their unlimited demo paper trading account. 

You can fund your IC Markets account by bank transfer, credit card, or e-wallets like PayPal at 0% commission and receive access to a free VPS server after opening an account with them.

Pros:

  • MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader platforms are available for Gold trading
  • Leverage up to 1:200 for Gold; tight spreads
  • Offers trading signals for Gold market

Cons:

  • Gold traded only as CFD

Key features:

  • Access to over 2,000 CFDs on stocks, bonds, indices, commodities, forex, and digital currencies
  • Islamic swap-free accounts available on request
  • Compatible with MetaTrader 4, 5, cTrader, ZuluTrade, and Myfxbook AutoTrade
  • Raw spreads from 0,0 pips
  • Well-suited for both beginner and experienced traders
  • Expert Advisors and other forms of automated trading allowed

02. Interactive Brokers: Best for active 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:

  • Gold traded as futures contract, options, and ETF
  • Low trading fees on gold derivatives
  •  Over 100 different order types and algos available for gold trading 

Cons:

  • Spot gold trading 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

03. IG: Best 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:

  • MetaTrader 4 (MT4) and ProRealTime (PRT) trading platforms are available for Gold trading
  • Gold traded as futures contract, CFDs and ETFs
  • Good trading fees on Gold CFDs and Gold Futures

Cons:

  • Higher margin requirements for retail CFD and futures trading on Gold

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

04. 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.

eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD

Pros:

  • Social trading service (Gold traded by following successful traders)
  • Gold traded as CFD and as ETF
  • Good Research and Educational tools for Gold trading, helps for less experienced traders

Cons:

  • Gold CFD trading fees are higher than competitors

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

05. Ava Trade: Best for Research and Education

avatrade-rating

AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.

Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.

Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100. 

Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or commodities with premium services.

Pros:

  • MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms are available for Gold trading
  • Gold traded by using social trading services (ZuluTrade, DupliTrade)
  • Low spreads on Gold CFDs

Cons:

  • Gold only traded as CFDs 

Key features:

  • Access to 1250 CFDs and 44 forex options
  • Excellent copy trading features
  • Advanced mobile trading app (AvaOptions)
  • Industry average pricing
  • Perfect for casual and advanced traders
  • Access to the full meta trader suite

How We Choose The Best Gold Trading Platforms

Our Business24-7 database comprises 55 online brokers that offer access to gold trading over 8 different categories. We test using: gold markets available, withdrawal & deposit, mobile apps, platforms, costs for gold trading, regulation, research & education, and customer support.

  • Assets: You can trade gold as CFDs, ETFs, gold futures and physical gold (gold bullions, bars and coins) . We have considered how many options for gold trading is offered by each broker.
  • Mobile Trading: Brokers offer mobile trading for spot gold and other commodities. Make sure your broker’s mobile platform has the trading tools you need. 
  • Fees: Trading fees for precious metals vary depending on the broker. Getting the best rates means more profit from winning trades. Brokers that offer 0% trading fees are the best, as long as the spread is competitive. 
  • Trading platforms: Commodity traders need fast execution, and a breaking news feed. Historical data should also be easy to access, especially if your broker uses a proprietary trading platform.  
  • Deposit & Withdrawal: Deposits and withdrawals need to be easy and cheap. Don’t choose a broker that charges to receive or send money. Bank fees may apply, but you can opt for an online payment method that is free. 
  • Regulation: Brokers regulated by the FCA, CySEC, and the ASIC deliver top-notch service. There are loads of brokers that are compliant in leading markets to choose from in the UAE. 
  • Research & education: Trading gold is not for noob traders, and the gold markets are volatile. Anyone who isn’t experienced in the gold markets should choose a broker with good educational resources.  
  • Customer support: Choose a broker that has customer support staff in the language and timezone you need. Even better if it offers support 24/7. 

*Islamic Accounts: Gold traders in the UAE have access to brokers that are in compliance with Sharia law. We offer reviews of compliant brokers for gold investors in the UAE.

Quick Facts About Gold?

Gold is a shiny metal made from the chemical Aurum that has been precious to mankind for a long time. It is one of the world’s most expensive metals associated with wealth and beauty. 

Different Ways Of Trading Gold in UAE

The gold trading basics in UAE are that you choose how you want to invest in gold, how much you want to invest gold, and for how long you want to trade gold.

You can invest and trade in gold in four ways: gold bullion, gold futures, gold ETFs, and gold mining ETFs.

  • Gold Bullion – You cannot invest in gold bullion via a trading platform, but by buying physical gold bars and coins. You can buy gold in a gold seller’s store or online. The biggest risk of investing in gold bullion is that thieves can steal it from you. 
  • Gold Futures – Investing in gold futures involves speculating on its price and deciding whether to take physical delivery of gold or not. Leveraged trading is available on gold futures contracts. This is profitable, but risky. 
  • Gold ETFs – Gold ETFs are exchange-traded funds that track the value of gold. Examples of gold ETFs are SPDR Gold Shares (GLD), iShares Gold Trust (IAU), and Aberdeen Standard Physical Gold Shares ETF (SGOL). Gold prices fluctuate like stock prices and ETFs give you exposure to these price changes. 
  • Gold Mining – Gold mining ETFs are exchange-traded funds that track the stock value of gold mining companies like VanEck Vectors Gold Miners ETF (GDX), VanEck Vectors Junior Gold Miners ETF (GDXJ), and iShares MSCI Global Gold Miners ETF (RING). By investing in gold mining ETFs you invest in gold mining performance rather than gold’s price. 

Things You Should Consider Before Trading Gold

You should know that gold investments are speculative, have a bad long-term performance, and that you shouldn’t invest in them because they are easy to understand. All assets including gold are volatile. There are assets that out-perform gold. Investing in new technologies like cryptocurrencies can be more profitable than gold. 

  • Long-Term Gold Investing

You should invest in gold over the long-term as a hedge against inflation and to preserve your wealth. Gold doesn’t out-perform other asset classes but is a storage of value. Unlike currencies that are subject to inflation, gold keeps its value. You can diversify your portfolio by investing in gold along stocks, cryptocurrencies, and other financial instruments. 

  • Short-Term Gold Investing

You should invest in gold over the short-term to profit from its price movements. Gold doesn’t generate dividend or interest like stocks. 

  • Risks of Investing in Gold

The risks of investing in gold are security and purity concerns, fees, and not earning passive income. When you invest in physical gold you don’t know its purity and thieves can steal it. Commissions on gold are high, especially when you buy gold end products. Gold doesn’t generate a passive income like investing in dividend stocks, peer-to-peer lending, and other forms of investing do. 

Tax Rules on Gold Investments in the United Arab Emirates

Dubai charges 5% VAT on gold, which is the lowest tax rate on gold worldwide. For this reason, people call Dubai the city of gold. You don’t have to pay any capital gains tax when investing in gold stocks, gold ETF’s, or other forms of ‘paper gold’. 

Getting Started with Trading on Gold Trading Platforms in UAE

You get started with trading on gold trading platforms in the United Arab Emirates by opening a gold trading account, verifying your identity, depositing funds into your account, and opening your first gold trade. 

best-gold-trading-platform-etoro
  1. Opening an eToro Gold Trading Account
    You open an eToro gold trading account by going to the eToro website, clicking on ‘Sign Up’, and filling in your personal details. 
etoro-account-opening-trading-gold
  1. Verifying Your Identity
    All traders will need to verify their identity before they can trade gold at eToro. You do this by uploading a photo of your passport, national ID card, or driver’s license. 
id-verification-etoro
  1. Depositing Funds to Trade Gold
    You will need to deposit funds into your gold trading account at eToro before you can start trading. eToro has multiple banking options available like credit/debit cards, PayPal, and bank transfers. 
  1. Open a Gold Trade
    Search for ‘SPDR’ or ‘GLD’ in eToro’s asset search bar to find all available gold investment options, select one, click ‘Trade’, and ‘Open Position’ to open a gold trade.  A pop-up will show, where you fill in the amount you want to invest, choose whether you want to go long or short (buy/sell), and set your risk parameters.  

Conclusion

After analysing and comparing 55 online brokers that offer gold trading in 9 different categories, we consider IC Markets as the best gold trading platform in UAE. They offer great gold market coverage, low gold trading fees and responsive customer support.

FAQ

How much should I invest in gold?

Most financial advisors tell their clients to invest a maximum of 10% of their net worth into gold.

Can I invest in gold on a UAE trading platform?

Yes, you can invest in gold with AvaTrade, which is regulated by the Abu Dhabi Global Markets (ADGM) and based on AL Maryah Island, Abu Dhabi.

Where can I learn to invest in gold?

On eToro’s website, you can learn to invest in gold by reading and viewing their educational material. 


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were 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 brokers 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.

Disclaimer
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.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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