Best Offshore Trading Platforms In UAE 2023 (UPDATED)

This guide helps users to find the best offshore trading platforms in UAE. There are numerous online brokers available to UAE citizens, residents and capital nomads. With the growing number of fraudulent service, it is often hard to separate the “wheat from the chaff” when selecting the best suitable platform for certain goals and needs.

Doing proper due-diligence and comparison of different brokers helps traders and investors to avoid choosing a platform that lacks in regulation, transparency, user-friendliness and range of trading features.

This guide assesses 78 offshore brokers accepting UAE clients (citizens, residents and capital nomads). To help users make an informed decision and find the ideal option for their trading goals, the best offshore trading platforms are listed, reviewed and compared below considering assets, platforms, fees, mobile trading apps, research & education, customer support, regulation, deposits & withdrawals, and islamic account availability.

Best Offshore Trading Platforms and Broker In UAE

1. Interactive Brokers – Bests For Stocks and ETFs
2. Pepperstone – Best CFD Platform
3. TradeStation – Ideal for Active Traders and Futures
4. IC Markets – Top For Forex and CFDs
5. eToro – Optimal For Beginners and Cryptocurrency

Top Offshore Brokers In UAE Reviewed 

Online brokers with the highest rated offshore platforms in UAE are reviewed below.

1. Interactive Brokers – Bests For Stocks and ETFs

Rating: 4,9/5

Min Deposit: $0

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

• Great choice of range of trading instruments
• Professional trading platforms suitable for both active traders and investors
• Competitive trading fees

Cons

• Limited deposit and withdrawal options

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

Open account

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.

2. Pepperstone – Best CFD Platform

Rating: 4,9/5

Min Deposit: $0

Fees: 4.9

Assets available: 4.8

Total Fees:

Open account Read review

74-89% of retail CFD accounts lose money

Pepperstone is an Australian CFD broker, founded in 2010. Their platforms offers access to 180 + financial instruments including forex and CFDs on stocks, indices, commodities and cryptocurrencies.

Trading platforms available on Pepperstone are listed below.

• MetaTrader 4
• MetaTrader 5
• TradingView
• cTrader

The platform charges zero spreads on most forex pairs and a fixed commission of $3,50. Peppesrtone is a reputable broker regulated by top-tier financial authorities including the Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA) and the Australian Securities and Investments Commission (ASIC).

Pepperstone’s customer support is available 24/7 in English and Arabic. They are reachable through email, live chat, and phone.

Pros

• Algorithmic trading features
• Multiple third party integrations (MT4, MT5, cTrader, Tradingview)
• Competitive fees
• Social trading features
• Excellent education and research materials

Cons

• Limited video educational resources
• Limited advanced order types
• Customer not available in Arabic

Key features

• 60+ Forex pairs and 700+ different CFDs
• MetaTrader 4, MetaTrader 5, cTrader trading platforms
• TradingView integration
• Zero spreads on a few forex pairs including EUR/USD
• Special set of tools for professional traders
• Islamic swap-free account available

Open account

74-89% of retail CFD accounts lose money

3. TradeStation – Best for Active Traders and Futures

Rating: 4,9/5

Min Deposit: $0 ($2000 – Margin account; $25000 – Day Trading account; $5000 – Futures account)

Fees: 4.8

Assets available: 5.0

Total Fees:

Open account Read review

Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.

Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO). Minimum deposit is $2000 and there are no monthly charges.

Pros

• Great range of trading instruments
• Solid trading platforms (Desktop & Mobile)
• Good customer support

Cons

• Research and education section lacks depth

Key features

• Access to over 20,000 stocks, ETFs, options, futures, mutual funds, bonds, and other financial instruments.
• Early-access to newly listed securities via TradeStation’s IPO trading platform
• Broad range of research and analysis tools for advanced traders like FuturesPlus, TSCrypto, Discover, and Insights
• Fully paid stock lending and margin trading available
• Low floating spreads, commissions, and other trading fees
• Perfect for both beginner and advanced traders

Open account

4. IC Markets – Best For Forex and CFDs

Rating: 4,5/5

Min Deposit: $200

Fees: 4.7

Assets available: 3.6

Total Fees:

Open account Read review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% 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.

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

• Choice of trading platforms (Desktop & Mobile)
• Reliable customer support
• Good research and educational tools

Cons

• Lacks wide range of trading instruments

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

Open account

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% 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.

5. eToro – Best For Beginners and Cryptocurrency

Rating: 4,9/5

Min Deposit: $100

Fees: 4.8

Assets available: 4.8

Total Fees:

Open account Read review

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.

Pros

• Trading platform easy to use and simple to navigate
• Social trading service
• Reliable customer support
• Free Research and Education

Cons

• Not suitable for professional traders

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

Open account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Top Offshore Brokers in UAE Compared

Key features of offshore brokers with the highest ranked platforms are compared in the table below.

How To Find The Optimal Offshore Brokers and Platform In UAE?

Criteria to consider for finding the ideal offshore trading platform in UAE are listed below.

• Assets: Your offshore broker should offer many assets for trading. These options should include: ETFs, stocks, commodities, mutual funds, bonds, futures, forex, indices, and cryptos. 
• Mobile Trading: Trading on your smartphone is simple with mobile trading platforms built for Android and iOS. Make sure your broker gives you the mobile trading tools you need. 
• Research & education: Offshore brokers have research and educational assets so you can trade well. Make sure the broker you choose has free information for you to read and watch. 
• Customer support: Brokers should have 24/7 customer support so you can deal with problems fast. Make sure your broker speaks a language you understand, so communication is easy. 
• Fees: Trading fees add up, so make sure you understand the fees your broker charges. Brokers that offer 0% trading fees are a good choice to make it simple to understand trading costs. 
• Trading platforms: You need to have access to a trading platform that is simple to use, and easy to understand. Make sure your broker gives you breaking news updates, and historical price data. 
• Deposit & Withdrawal: Deposits and withdrawals should be free with your broker. Make sure the broker you choose has payment options you like. 
• Regulation: The FCA, CySEC, and ASIC offer protection for investors with strong regulations. Only trust your money to a broker who is compliant with regulations in a top-tier market. 

*Islamic Accounts: Offshore traders in the UAE should choose a broker that is compliant with Sharia law. Our guide will help you find the right broker for your trading needs. 

What Are Offshore Brokers?

Offshore brokers are brokers based in a jurisdiction outside of UAE that offer you the option to trade and invest in securities and other assets by opening a brokerage account with them. Traders and investors often use offshore brokers to evade capital gains tax in their home country. They use their offshore brokerage accounts to hold, invest, and trade all kinds of financial instruments without the need to provide information about the source of funds. In most cases, companies have offshore brokerage accounts as individual traders and investors don’t benefit as much from offshore trading as institutions do. 

What Are The Main Advantages and Disadvantages Of Using An Offshore Brokerage Account as a UAE Resident?

The most common reason for traders to sign up with an offshore broker is to avoid home country trading regulations, to avoid taxes, to trade with higher leverage or have more privacy and flexibility.

Since UAE residents do not have trading restrictions (No hedging and Fifo rule that US residents and no leverage restrictions that EU traders have) and UAE does not have a capital gain and a dividend tax (there is no need for tax avoidance), the only reason why UAE resident would opt for an offshore broker over a domestic one is the quality of the brokerage service.

Better Brokerage Service

Trading with an offshore broker compared to UAE local brokers gives you access to the main global markets and asset classes. With an offshore brokerage account, you can trade and invest 24/7 in stocks, ETFs, forex, bonds, options, futures, commodities, indices, mutual funds, cryptocurrencies, and other financial instruments from across the globe.

Expensive Account Opening

Offshore brokerage firms usually have very high minimum deposit requirements. You cannot expect to open an offshore brokerage account with a few hundred Dirham as is possible with regulated brokers like eToro, AvaTrade, and Capital.com.

Financial and Legal Risks

Offshore and unregulated brokers cannot be fully trusted. As they don’t have to follow any laws or trading rules, they can scam their clients whenever they want to. It is also a known fact that offshore brokers often evade taxes and keep illegal information from their clients. For this reason, countries like the United Arab Emirates and economic zones like the European Union have tightened their tax laws.

What Are The Main Risks To Consider When Trading With an Offshore Broker?

It is important to know that trading with an offshore broker means that you are dealing with an unknown, unregulated broker. As offshore brokers are not overseen by any regulatory body or government, any funds held in accounts with them are at risk of being stolen. You cannot file a complaint with the UAE Best Business Bureau or take the broker to court if this happens. For this reason, we recommend doing extensive due diligence before opening an offshore brokerage account. 

Conclusion

There is a great number of offshore brokers in UAE offering different services and conditions, which makes it hard to find the ideal option for individual needs. Researching and comparing offers can be stressful and require time and knowledge.

This guide does the hard work for you by comparing and evaluating the top choices for different types of traders and trading goals. The results of our analysis of offshore brokers in UAE with the best trading platforms are wrapped up in the table below.

Stefan Grasic

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.

Read more about Stefan Grasic