Page Summary
In this guide, we will help you find the best Halal trading platform in the UAE. All listed brokers offer Islamic accounts, access to a wide range of assets, low overall trading fees Arabic language, and have top-tier financial licenses.
To guide you through the process of finding the best halal trading platform in UAE, we analyzed and compared 125 online brokers in 8 different categories.
Top 5 Halal Trading Platforms in UAE
- eToro – Best Halal Trading Platform Overall
- AVAtrade – Top Halal Platform for CFDs
- Sarwa – Best Halal Platform for Stocks and ETFs
- Pepperstone – Top Platform for Commodities
- IC Markets – Top Platform for Commodities
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | eToro | Great cryptocurrency trading features | 4,9/5 | Best Halal Trading Platform Overall | Official website |
| #2 | AVAtrade | Great Customer support | 4,9/5 | Top Halal Platform for CFDs | Official website |
| #3 | Sarwa | Competitive trading fees | 4,2/5 | Best Halal Platform for Stocks and ETFs | Official website |
| #4 | Pepperstone | Competitive fees and commissions | 4,9/5 | Top Platform for Commodities | Official website |
| #5 | IC Markets | Multiple account types and trading platforms | 4,5/5 | Top Platform for Commodities | Official website |
Best Halal Trading Platforms in UAE Reviewed
Below is a review of the top halal trading platforms in UAE including their pros, cons, and key features.
1. eToro – Best Halal Trading Platform Overall
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
79% 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 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
eToro has the best halal trading platform in UAE overall. The broker offers an Islamic swap-free account that charges no interest on trades. There are also no rollover commissions for contracts lasting longer than 24 hours. eToro doesn’t charge any commissions or fees for account management and Islamic users can trade with interest-free leverage.
eToro’s platform allows access to over 3,000 assets including forex pairs, CFDs, stocks, and cryptocurrencies. It has beginner-friendly trading tools including a copy trading feature that allows users to copy the trades of professional traders. The platform also offers extensive educational materials through eToro Academy, eToro Plus, and Digest & Invest.
eToro charges competitive spreads of 0.9pips (EUR/USD). Islamic users can trade with up to 1: 400 leverage.
eToro’s customer service is available via email, live chat, and by phone in English and Arabic.
Pros
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
Cons
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
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
2. AVAtrade – Best For CFDs
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
Avatrade is a regulated broker licensed by the ADGM and DFSA. Their Islamic account does not charge swaps and rollover commissions. Their trading platform is available in Arabic and offers access to a wide range of CFDs including stocks, forex, commodities, ETFs, and cryptocurrencies.
Avatrade has 5 trading platforms:
- WebTrader
- AvaOptions
- AvaTradeGO
- Avasocial
- Mac Platform
All platforms offer a wide range of third party integrations including MT4, MT5, DupliTrade and Capitalise.ai. Users also have access to beginners and advanced trading tools including VPS, Avaprotect and Expert Advisors.
AvaTrade charges competitive spreads of 0,9 pips on EUR/USD and 0% commission on stocks and CFDs. AvaTrade’s Islamic account does not charge swaps and rollovers.
The maximum leverage offered by Avatrade is 500:1.
AvaTrade’s customer service is available through email, live chat, and by phone in Arabic and English.
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
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
3. Sarwa – Best Platform for Stocks and ETFs
Sarwa is a UAE based broker with a license from the ADGM and FSRA. Their Islamic account allows users access to different trading strategies including manual trading, automated investing and Robo-advisory.
Sarwa Invest platform has 5 investment portfolios:
- Halal
- Conventional
- Crypto
- Socially responsible
Sarwa investment portfolios are diversified across international stocks, bonds, real estate, and crypto. Users can choose different risk exposure levels, from conservative to growth. Dividends get reinvested into users’ portfolios.
Sarwa Trade (manual trading platform) allows users access to limited markets including stocks, ETFs and cryptocurrencies. The platform is available as a web browser and mobile app.
Sarwa charges low overall trading fees. The broker doesn’t charge any fees for local bank deposits in AED (Dirhams). Sarwa’s advisory fees start at 0,85%.
Sarwa is physically present in Dubai. They can be reached by email and phone in English and Arabic.
Pros
- Suitable for both beginner and professional traders
- Option to visit their offices in Dubai or Abu Dhabi and receive direct investment advice
- Competitive trading fees
Cons
- Few banking options
Key features
- Invest in or trade over 2,000 US stocks, ETFs, and cryptocurrencies
- 5 differently diversified portfolios available to invest in
- Physical offices in Dubai and Abu Dhabi
- Well-suited for both beginner and advanced traders and investors
- Multiple order types available
- Access to historical and real-time price data
- Transfer money without paying any fees from local UAE bank accounts
4. Pepperstone – Best Halal Platform for Commodities
Min Deposit: $200
Fees: 4.9
Assets available: 4.8
Total Fees:
Pepperstone is a reputable online broker with a license from the DFSA. Their list of trading platforms include MetaTrader 4, MetaTrader 5, and cTrader. All platforms offer beginner to advanced trading tools including watch lists, charting tools, custom indicators, and real-time price quotes. Users can implement third party extensions such as Capitalise.ai and TradingView. All platforms are accessible via desktop, web, and mobile devices.
Pepperstones allows Islamic traders access to 1,200 instruments including forex pairs, index CFDs, commodities, cryptocurrencies, shares, and currency indices.
Pepperstone’s islamic account charges low spreads of 0,00 pips (EUR/USD) and $3,50 commissions per lot. The minimum deposit required to open Pepperstone’s Islamic account is $200.
Pepperstone’s customer support is available via e-mail, live chat, and by phone in English and Arabic.
Pros
- Great for algorithmic and copy traders
- Multiple platform add-ons
- Competitive fees and commissions
- Advanced social trading features
- Excellent education and research section
- Competitive fee structure for day
Cons
- Lack of video educational resources
- Advanced order types missing
- Customer support not in Arabic
Key features
- 600 + stocks as CFDs available
- Great variety of trading platforms (MetaTrader + cTrader)
- Multiple advance trading add-ons
- Social trading features
- Competitive pricing for active traders
5. IC Markets – Top Halal Platform for Forex
Min Deposit: $200
Fees: 4.7
Assets available: 3.6
Total Fees:
IC Markets is an Australian brokerage, founded in 2007. Their trading platform offers access to 2,250 financial instruments including forex, CFDs, indices, bonds, stocks, futures, and cryptocurrencies. IC Markets Islamic account charges low spreads from 0,0 pips and no swaps. Advanced traders can trade with up to 500:1 leverage.
IC Markets list of trading platforms include MetaTrader 4, MetaTrader 5, and cTrader. Users can implement a variety of third party extensions for MetaTrader4 including the Alarm Manager, Correlation Matrix, and Correlation Trader. Automated trading software are available through
Expert and Robo-Advisors. All trading platforms are available through desktop and mobile apps.
IC Markets also provides a wide range of educational materials in the form of tutorials, webinars, seminars, podcasts, and analysis reports.
IC Markets customer support is via e-mail, live chat, and phone in English and Arabic.
Pros
- Multiple account types and trading platforms
- Trade with up to 1:500 leverage
- Unlimited demo account
- Free access to Equinix NY4 VPS server
Cons
- No educational material
- Only CFD, forex, and crypto trading
- No research and analysis tools
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
How Business24-7 Selected the Best Halal Trading Platforms in UAE?
To help you find the best halal trading platforms in UAE, we have analyzed and compared 125 online brokers in 4 different categories. We have considered:
- Availability of Islamic forex and/or CFD account – access to forex and/or CFD trading according to Sharia Law
- Margin trading and short-selling prohibition – margin trading and short selling have to be disallowed.
- Overall quality of service – customer service, trading platform, and trading conditions (trading & non trading fees, deposits and withdrawals)
- UAE Availability – UAE customers are allowed to sign up
When Is a Trading Platform Considered Halal?
A trading platform is considered Halal when offering the following features:
- Shariah-compliant Investments – investments that are compliant with Islamic law (Sharia law). Haram investments (alcohol and tobacco production, gambling, and pornography) are forbidden.
- Transparency – the broker needs to be transparent about their products and trading fees.
- Compliant With Islamic Laws – The best Halal trading platforms are fully compliant with Islamic laws and regulations. Brokers with Halal trading platforms have Shariah boards that ensure all available financial instruments, investment products, and transactions comply with Sharia law and other Islamic principles.
- No Interest-based Transactions – the broker is not allowed to charge interest-based transactions, such as swaps, interests, and overnight fees.
- Access to Islamic Investment Products – access to a broad range of Sharia-compliant financial instruments like equities, Sukuk (Islamic bonds), stocks and Islamic mutual funds.
- User-friendliness – brokers must have intuitively designed user interfaces. They need to offer a broad range of educational resources in the form of articles, videos, seminars, webinars, and podcasts.
- Low Fees – Halal platforms do not charge interest-based fees or commissions and have lower fees.
When Is a Trading Platform Considered Haram?
A trading platform is considered Haram when it offers financial instruments that are prohibited by Islamic law (Shariah law) or when it charges or pays interest (Riba).
A trading activity is considered Haram when it includes interest-based transactions, speculative transactions, investment in prohibited industries, currency transactions that aren’t immediately settled, unethical business practices, and illegal activities.
What Are Some Of The Best Halal Investments?
Some of the best Halal investment options are stocks, ETFs, forex, cryptocurrencies, precious metals, Sukuk, and real estate.
- Stocks – Muslimtraders are allowed to invest in stocks of companies that aren’t engaging in haram activities.
- ETFs – Shariah trading guidelines encourage the diversification of funds through ETFs in
- Forex – is considered halal when it is trader through an Islamic swap-fee Islamic account.
- Cryptocurrencies – are considered Halal through their approval by the Auditing Organization for Islamic Financial Institutions (AAOIFI).
- Precious Metals – are considered Halal and Muslim investors are free to invest in precious metals like gold and silver.
- Sukuk – Sukuk are special Islamic bonds without interest.
- Real Estate – Real Estate Investment Trusts (REITs) offer real estate investment opportunities without mortgages which are considered halal.
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. 68% 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 is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.