Page Summary
With the increasing interest in trading with metals in UAE and the growing number of new brokers (reliable and fraudulent) entering the market, it can be hard for traders to find the ideal platforms for their preferences.
Conducting in-depth research and comparing different brokers helps traders avoid choosing a platform with limited trading tools and features, research and educational materials, number of commodities, and high fees.
This guide assesses 45 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 trading platforms for metals in UAE is shared below, followed by detailed reviews and comparisons.
Top 5 Precious Metal Trading Platforms In UAE
- AVAtrade – Best For Research and Education
- Interactive Brokers – Ideal for active Traders
- eToro – Top For Beginners
- Saxo Bank – Optimal For professional traders
- IG Trading – Best for Mobile Trading
Best Metal Trading Brokers in UAE Reviewed
Online brokers in UAE with the highest rated platforms for trading with metals are reviewed below.
1. AVAtrade – Best For Research and Education
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
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
71% of retail CFD accounts lose money
2. Interactive Brokers – Best for active 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
- 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
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.
3. eToro – Best For Beginners
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
4. Saxo Bank – Best For professional traders
Min Deposit: $5000
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
- 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
69% of retail investor accounts lose money when trading CFDs with this provider.
5. IG Trading – Best for Moble 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
- 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
75% of retail CFD accounts lose money
How To Find The Optimal Metal Trading Platform and Broker in UAE?
Elements to consider in order to choose an brokers with the best suited platforms for trading with metals are listed below.
- 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.
Top Broker For Trading With Metals Compared
Key features of online brokers with the highest ranked platforms for trading with metals in UAE are compared in the table below.
| Broker | Available Options to Trade Metals | Minimum Deposit | Available Trading Platforms | Deposit & Withdrawal Methods | Customer Support Options | Regulators |
|---|---|---|---|---|---|---|
| AVAtrade | Gold, Silver, Platinum, and more | $100 | MetaTrader 4, MetaTrader 5, AvaTradeGo, AvaOptions | Credit/Debit Cards, Bank Wire Transfers, E-Wallets (PayPal, Skrill, etc.) | Live Chat, Phone, Email | Central Bank of Ireland, ASIC, JFSA, BVI, FSCA, ADGM, FRSA |
| Interactive Brokers | Gold, Silver, Platinum, and more | $0 for IBKR Lite, $10,000 for IBKR Pro | Trader Workstation, IBKR Mobile, IBKR WebTrader | Bank Transfers, Check, Online Bill Pay, Direct Rollover, Trustee-to-Trustee | Live Chat, Phone, Email | SEC, FINRA, NYSE, FCA and other regional authorities |
| eToro | Gold, Silver, through CFDs | $200 | eToro Platform, eToro Mobile Apps | Credit/Debit Cards, Bank Wire Transfers, E-Wallets (PayPal, Skrill, etc.) | Ticket System, Live Chat | CySEC, FCA, ASIC |
| Saxo Bank | Gold, Silver, Platinum, and more | $10,000 | SaxoTraderGO, SaxoTraderPRO | Bank Transfers, Debit Cards | Phone, Email | FCA, ASIC, SFC, JFSA, MAS, and others |
| IG Trading | Gold, Silver, and more | $250 | IG Web Platform, ProRealTime, L2 Dealer, MetaTrader 4 | Credit/Debit Cards, Bank Wire Transfers, E-Wallets | Live Chat, Phone, Email | FCA, ASIC, MAS, FINMA, JFSA, DFSA, CFTC |
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.
- Open a Metal Trading Account
Navigate to your preferred broker’s website, click ‘Sign Up’, and fill in your personal details.
- 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.
- Deposit Funds
Deposit funds into your metal trading account by credit card, bank transfer, or e-wallets like PayPal, Neteller, or Skrill. - 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
The wide range of online brokers in UAE offering different platforms and features, make it hard to find the ideal choice for individual needs. Comparing and evaluating the services of different providers requires time and knowledge.
This guide does the hard work by evaluating top platforms for different types of traders and investment goals. The results of our analysis and comparison of the best metal trading platforms in UAE are wrapped up in the table below.
Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk.
| RANK | BROKER | OVERALL SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | AVAtrade | 4,9/5 | Research and Education | Official website |
| #2 | Interactive Brokers | 4,9/5 | Active Traders | Official website |
| #3 | eToro | 4,8/5 | Beginners | Official website |
| #4 | Saxo Bank | 4,5/5 | Professional traders | Official website |
| #5 | IG Trading | 4,4/5 | Mobile Trading | Official website |
Based on our review, 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.
FAQ
What is the cheapest metal trading platform?
The cheapest metal trading broker is eToro, as it allows users to trade metals without commission.
What is the best metal trading platform for beginners?
The most commonly used metal trading platform in UAE for beginners is eToro. It has an intuitive design, easy buy and sell order types and copy trading features.
Is trading with metals risky?
Yes, trading with metals involves risk of losing money. It is recommended to start with a demo account before using a real trading account.
How do metal trading platforms earn money?
Brokers that offer metal trading make money through spreads, commissions, and other trading fees.
What is the best metal trading platform for UAE traders?
The best platform for trading metals in UAE is eToro. It allows users to trade with a variety of metals (gold, silver, and other precious metals), charges zero commission and offers copy trading features.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and crypto assets, 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. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
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.
Stefan Grasic is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level.