Best Metal Trading Platforms in UAE

In this guide we reveal everything you need to know about the Best Metal Trading Platforms in UAE. Our database compares 55 online brokers that offer precious metal trading in UAE across 9 categories. We use tradable metals, customer support, platforms, metal trading fees, mobile trading apps, deposits & withdrawals, research & education, regulation, and islamic account availability to help you find the best broker. 

Based on our evaluation of 214 across 3500 data points overall, these are the Best metal trading platforms in UAE. 

Top 5 Precious Metal Trading Platforms for UAE Traders

1. AVAtrade – Best For Research and Education
2. Interactive Brokers – Best for active Traders
3. eToro – Best For Beginners
4. Saxo Bank – Best For professional traders
5. IG Trading – Best for Moble Trading

Best Metal Trading Broker Reviews – Updated for 2023

Below you will find our detailed evaluation of each of our top rated metal trading platforms for UAE traders including their pros, cons and key takeaways.

1. AVAtrade – Best For Research and Education

Rating: 4,9/5

Min Deposit: $100

Fees: 4.9

Assets available: 4.9

Total Fees: 0.9 pip

Open account Read review

71% of retail CFD accounts lose money

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.

Read the full review of AVAtrade

Pros

• MT4 platform (The best for CFD trading) available; MT5 also available
• Low spreads on metal CFDs
• Offers wide selection of different analytical tools for metal CFD trading

Cons

• Metal trading instruments only available 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

2. Interactive Brokers – Best for active Traders

Rating: 4,9/5

Min Deposit: 0 ($2000 for margin account)

Fees: 4.9

Assets available: 4.9

Total Fees:

Open account Read review

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

• Metals are available as futures, options and ETFs
• No commission trading in for metals ETFs, competitive trading fees for metals options and futures
• Professional trading platforms, order types and trading tools for metals trading

Cons

• Spot metals 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

3. eToro – Best For Beginners

Rating: 4,9/5

Min Deposit: $200

Fees: 4.8

Assets available: 4.8

Total Fees:

Open account Read review

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 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. Read the full eToro review here.

68% 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

• Social trading service (metals derivatives copy trading)
• Proprietary trading platform for trading metals is easy to use and designed for beginners
• Metals trading available for CFDs and ETFs

Cons

• Metals CFD trading is more expensive 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

4. Saxo Bank – Best For professional traders

Rating: 4,9/5

Min Deposit: $2000

Fees: 4.7

Assets available: 4.9

Total Fees:

Open account Read review

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

• Metal trading available as spot, futures, options, CFDs, and ETFs
• Award winning trading platform for metal trading
• Detailed market analysis and powerful trading tools for metals trading

Cons

• Too many trading tools for metals trading that, not good for less experienced traders

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

5. IG Trading – Best for Moble Trading

Rating: 4,2/5

Min Deposit: $5500

Fees: 3.7

Assets available: 4.5

Total Fees:

Open account Read review

75% of retail CFD accounts lose money

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

• Metals trading available in different forms, futures, CFDs, and ETFs
• Metals trading available on different trading platforms; including MetaTrader 4 (MT4) and ProRealTime (PRT)
• Competitive trading fees for metals CFDs and futures

Cons

• High margin requirements for retail CFDs and futures trading on metals products

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

Choosing the Best Metal Trading Platform as UAE Trader

We use a database of 55 online brokers that offer metal trading in UAE and compared them in 8 different categories. Our criteria includes: availability of different precious metals, quantity of different metal trading instruments available for trading, trading costs of precious metals, regulation, withdrawal & deposit, mobile apps, research & education, and customer support.

• Assets: Metals traders have investing options in the UAE like commodities, options, indices, swaps, ETFs, mutual funds, forex, bonds, futures, and cryptos. Make sure the broker you choose has all the metals you want to trade. 
• Mobile Trading: You can trade metals with any mobile device with brokers in the UAE. Made sure the broker you choose has a mobile platform that works with both iOS and Android. 
• Fees: Getting the lowest trading fees possible means bigger profits. Some brokers offer 0% fees, but make sure this applies to commodities, like metals. 
• Trading platforms: A metals trader needs access to a range of metals, and solid trade execution. Having a range of data sources is vital, as breaking macroeconomic developments move the metals markets. 
• Deposit &Withdrawal: Deposits and withdrawals should be simple for any trader in the metals market. Be sure to choose a broker that offers zero cost options for deposits and withdrawal, and supports a payment platform you like. 
• Regulation: The FCA, CySEC, and the ASIC regulate metals brokers, as well as other financial services. Don’t trade with a broker that isn’t compliant with regulations in a top-level jurisdiction. 
• Research & education: Trading metals requires knowledge of the macroeconomic environment, so access to information about how the economy works is vital for new traders. Your broker should have educational resources for you. 
• Customer support: Your broker should offer a full time customer support staff that speaks a language you are comfortable with. 

*Islamic Accounts: Brokers in the UAE offer metals trading platforms that are in compliance with Sharia law. We only review compliant brokers for metals investors in the UAE.

The table below gives a more detailed overview over the tested criteria and how each of the brokers performed:

How to Get Started With Metal Trading in UAE?

You get started trading metal in UAE by opening a trading account with a metal broker, verifying your identity, depositing funds into your account, and opening a metal trade.

1. Open a Metal Trading Account
   Navigate to your preferred broker’s website, click ‘Sign Up’, and fill in your personal details.

2. Verifying Your Identity
   Upload a photo of your passport, national ID card, or driver’s license to verify your identity with regulated metal trading platforms like eToro. 

3. Deposit Funds
   Deposit funds into your metal trading account by credit card, bank transfer, or e-wallets like PayPal, Neteller, or Skrill. 
4. Opening a Metal Trade
   Search for your preferred precious metal and click the ‘Trade’ button. A pop-up will appear where you choose the amount you want to invest, order type, leverage, and whether you want to go long or short (buy/sell). 

Pros and cons of metal trading

Using precious metals as money predates the current global fiat currency system by thousands of years. Today, precious metals trade in every major economy. The USA has the COMEX, London has the LME, and Dubai has the DGCX. There are many good reasons to trade metals, let’s look at the pros and cons.

Pros

• Metals act as a hedge against political instability and inflation. Gold is still a monetary instrument, and its value isn’t impacted by monetary or political chaos. 
• Unlike fiat currency, precious metals maintain global value. Although silver, platinum and palladium aren’t money, they are all valuable in financial centers.  
• Precious metals survive currency collapse, and thrive in times of upheaval. When a nation falls, or money becomes worthless, precious metals will still have value.

Cons

• Precious metals are volatile assets. There are extreme swings in the metals market, and unless you are an experienced metals trader, trading metals is a risky investment.  
• Except for gold, precious metals aren’t money. Silver is not money anymore, so trading silver is commodity trading. The economics of the global economy are influential in the metals market, especially for platinum and palladium. 
• The precious metals markets are subject to manipulation. There is evidence that money center bank traders fixed prices in the precious metals market.

Different ways to invest in metals

Investors can buy exposure to precious metals with the futures market, physical metals, ETFs, mining stocks, and mutual funds. Each way of buying precious metals has advantages. 

• Precious Metals Futures – Precious metals trade on major futures exchanges, and brokers also offer perpetual futures contracts, as well as CFDs. Buying metal in this way will have fees attached to ownership. 
• Physical Metal – Buying physical metal removes counterparty risk from owning metal, but storing in a secure location and insuring it are necessary, which adds to costs. It is also inconvenient to trade. 
• Precious Metals ETFs – There are ETFs that allow traders to buy and sell exposure to precious metals. ETFs are inexpensive to own and trade, and are available on major exchanges. In addition, ETFs that own mining stocks and metals are available. 
• Mining Stocks – Buying the stock of a gold miner will give an investor exposure to a rising gold price. There are also a few primary silver, platinum, and palladium miners listed on public exchanges. 
• Mutual Funds – Like ETFs, there are mutual funds that own a range of precious metal linked assets. Mutual funds are more expensive to trade and hold than ETFs. 

Conclusion

Based on our evaluation and comparison of 55 online brokers that offer metal trading in UAE across 9 different categories, we consider AVAtrade as the best metal trading platform in UAE. They offers great a great variety of different metal trading instruments and features, a full suite of trading platforms and an extensive educational section covering precious metals.