Best Metal Trading Platforms in UAE

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The best metal trading platforms for United Arab Emirates-based traders are eToro, Capital.com, Libertex, Interactive Brokers, and AvaTrade.

In this guide on precious metal trading, we will explain why these are the best metal trading platforms to trade on the Dubai Gold & Commodities Exchange and other exchanges.

Best Precious Metal Trading Platforms for UAE Traders

  • eToro – The Overall Best Metal Trading Broker for UAE Traders
  • Capital.com – The Best Low-Cost Metal Trading Platform
  • Interactive Brokers – The Best Metal Trading Platform to Trade on NADEX 
  • AvaTrade – The Best Multi-Platform Metal Trading Platform

Best Metal Trading Broker Reviews – Updated for 2022

Below you will find the individual broker reviews of each best metal trading platform. 

01. eToro: The Overall Best Metal Trading Broker for UAE Traders

Best Metal Trading Platforms in UAE

eToro is the best overall best metal trading broker because you can trade SPDR Gold Shares and the best SPDR ETFs commission-free with them. You can also trade CFDs on gold and other precious metals with eToro with a leverage of up to 20:1. eToro has a social trading platform that you can use to copy other traders and a mobile metal trading app. 

ProsCons
Commission-less metal tradingLacks tools for professional traders
Up to 20:1 leverage
Social trading

02. Capital.com: The Best Low-Cost Metal Trading Platform

capital.com

Capital.com is the best low-cost metal trading platform because you can trade CFDs on gold and other metals commission-free. Capital.com charges competitive spreads and offers up to 5:1 leveraged trading on metals, forex, crypto, and stocks. You can open a Capital.com metal trading account for 100 AED or open a demo trading account. Capital.com is CySec-regulated and offers beginners educational material. 

ProsCons
Metal CFD trading with up to 5:1 leverageOnly CFD trading
CySec-regulated
Demo account available


03. Interactive Brokers: The Best Metal Trading Platform to Trade on NADEX 

interactive brokers

Interactive Brokers is the best metal trading platform to trade on NADEX because it is a US-based broker that has been in business for almost 35 years that is regulated by the US Securities and Exchange Commission. You can trade precious metals, CFDs, forex, stocks, and ETFs commission-free with IB. Apart from NADEX, you can also trade metals on the Dubai Gold & Commodities Exchange, and New York Mercantile Exchange with Interactive Brokers. 

ProsCons
US-regulated American brokerTrading platform overwhelming for beginners
Stocks, forex, metals, and ETFs tradable
Low fees

04. AvaTrade: The Best Multi-Platform Metal Trading Platform

avatrade

AvaTrade is the best multi-platform metal trading platform because you can trade metals on 6 trading platforms with them. You can trade metal on AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, or Ava WebTrader. Automated metal trading is available with AvaTrade through DupliTrade and ZuluTrade. The Financial Services Regulatory Authority (FSRA) regulates AvaTrade and the broker is registered with the Abu Dhabi Global Market. 

AvaTrade offers Islamic swap-free accounts for Muslim traders who want to trade according to Sharia law.

ProsCons
Multiple metal trading platformsCharges inactivity fees
Automated metal trading
FSRA-regulated

Choosing the Best Metal Trading Platform as UAE Trader

You choose the best metal trading platform as UAE trader by comparing broker licenses, tradable commodities, and fees. We recommend UAE traders trade with FSRA-regulated brokers that are listed on the Abu Dhabi Global Market that offer a wide range of tradable metals. All brokers charge fees, but you should trade with a low-cost broker whose fee structure suits your trading style. 

1. Metal Trading Commissions

Most brokers charge metal trading commissions, but the brokers mentioned in this guide like eToro and AvaTrade offer commission-less metal trading. If you trade metal with other brokers, you have to pay a commission for every trade.

  • Metal Trading Spreads – are the difference between the raw material price and the finished product charges on metal trading platforms. Brokers also charge spreads, which are price mark-ups on the original market price. 
  • Metal Trading Leverage Fees – When you trade CFDs on metals, you pay leverage fees to your broker for borrowing money. The higher the leverage, the higher the leverage fees. You can trade metal without leverage to avoid paying these fees.
  • Other Trading Fees – When you trade on metal trading platforms you can expect to pay inactivity fees, transaction fees, and currency conversion fees. We recommend keeping your account active and deposit/withdraw sporadically. 

2. Metal Trading Platform Tools and Features 

When choosing the best metal trading platform, you should check for tools and features like leverage, technical analysis, and amount of order types. 

  • Leverage – If you want to trade metal, trading with leverage can be interesting. You want lots of small profits. The metal trading platforms mentioned in this guide allow you to trade with up to 30:1 leverage.
  • Technical Analysis – Advanced traders want to be able to conduct technical analysis with tools like chart drawing tools, indicators, and customizable trading interfaces. 
  • Order Types – The best metal trading platforms have many order types available like Trailing Stop-Loss orders, Guaranteed Stop-Loss orders, Good for the Day orders, Good ‘Till Cancelled orders, and One-Cancels-The-Other orders. The more order types a trading platform offers, the better risk management you can apply.

3. Other Metal Trading Platform Features

Other metal trading platform features include alerts, demo accounts, payment methods, user experience, and customer service.

The user-friendly brokers mentioned in this guide offer price alert notifications so you get notified when a metal reaches a certain price, excellent 24/7 customer service in both English and Arabic, and demo accounts to familiarize yourself with their trading platform.

4. Add Types of trading metals..

Getting 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.

metal-trading-eToro
  1. Open a Metal Trading Account
    Navigate to your preferred broker’s website, click ‘Sign Up’, and fill in your personal details.
etoro-account-opening
  1. 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
verifying-your-identity-on-etoro
  1. Deposit Funds
    Deposit funds into your metal trading account by credit card, bank transfer, or e-wallets like PayPal, Neteller, or Skrill. 
  1. 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). 

Best Metal Trading Platforms in UAE – Our Verdict

After reading this guide you know that the best metal trading platforms in UAE are eToro, AvaTrade, Libertex, Interactive Brokers, and Capital.com. You can trade metals commission-free and with leverage with these brokers. We recommend trading metals with eToro. 

FAQ

What is the cheapest metal trading platform?

The cheapest metal trading broker is eToro, where you can trade metals commission-less.

What is the best metal trading platform for beginners?

We suggest trading metal with eToro for beginners.

Is it safe to trade metals?

Metal trading is risky like other forms of trading. Only trade with that which you can afford to lose. The metal trading platforms mentioned in this guide are safe, reliable, and regulated brokers.

How do metal trading platforms earn money?

By charging their clients spreads, commissions, and other trading fees.

Can I deposit with PayPal at metal trading platforms?

Yes, you can deposit with PayPal at metal trading platforms like eToro, AvaTrade, and Libertex.

What is the best metal trading platform for UAE traders?

eToro is the best metal trading platform for UAE traders because you can trade gold, silver, and other precious metals commission-free with them.


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.