Best Trading Platforms in UAE & Dubai Reviewed (2024)

Page Summary

This guide helps users compare and find online brokers with the best trading platforms in UAE. With the growing number of transparent and non-transparent brokers, choosing the ideal platform for active trading or long-term investing can be challenging.

Proper research, comparison, and evaluation of brokers’ services can help select a trading platform with strict regulation, a wide range of trading and investment instruments, competitive fees, and professional customer support.

This guide compares 213 online brokers available in UAE for traders and investors to review and find the ideal platform for their needs. To help them make an informed decision, a list of the best trading platforms in UAE is shared below, followed by detailed comparison and reviews.

Best Trading Platforms in UAE

  • AVAtrade | Best Trading Platform for Forex and Options
  • eToro | Best Trading Platform in UAE for Beginners
  • Plus500 | Best for Mobile Trading
  • Pepperstone | Best Forex and CFD Trading Platform
  • Interactive Brokers | Best Platform For Stocks, ETFs and Options
  • Saxo Bank | Best Advanced Trading Platform

Top Online Trading Platforms in UAE Compared

Key features of online brokers with the highest rated trading platforms in UAE are compared in the table below.

Broker AVAtrade eToro Plus500 Pepperstone Interactive Brokers Saxo Bank
Min. deposit UAE
$100

$50

$100

$0

$0

$2000

Nr. of financial instruments
1450+

5000+

2100

1,200+

150.000

71.000+

Available assets
Forex,
Options,
CFDs..
FX pairs: 62
Options:44
Stocks:700
ETFs:60
Cryptos:20
Indices:31
Commodities:18

Stocks & ETFs,
Forex,
Crypto..
Fx pairs:49
FX options:0
Stocks:5,000
ETFs:264
Cryptos:32
Indices:250
Commodities: 54

FX pairs, Stocks, ETFs.. FX pairs: 66
Stocks: 1900
ETFs: 96
Cryptos: 24
Indices: 29
Commodities:19

Forex
CFDs
Indexes..
Fx pairs:60+
FX options:0
Stocks:1000+
ETFs: 0
Cryptos:21
Indices:25
Commodities: 32

Stocks & ETFs,
Futures,
Options..
FX pairs:115
Options:50
Stocks:87,000
ETFs:35,000
Cryptos:20
Indices:3,052
Commodities: 35

Forex,
Bonds,
Funds..
Fx pairs:190
Options:3,000
Stocks:22,000
ETFs:6,400
Cryptos:20
Indices: 1,069
Commodities:0

Trading fees
Fx: 0.9 pips EUR/USD
CFDs: 3% avg. spread
Forex: 0.9 pips EUR/USD
Stocks: 3% average spread

Fx: 0.9 pips EUR/USD
Stocks & ETFs: 0%

Fx: 0.8 pips EUR/USD
Stocks & ETFs: $0.006

Fx: 0.0 pips EUR/USD
Stock CFDs: 0%
Forex: from 0 pips + $3,5 Commission
Stocks: 0% commission + spread

Fx: 0.08 pips EUR/USD
Stocks & ETFs: 0%
Forex commission: from 0.08 pips
Stocks & ETFs: 0% commission

Fx: 0.08 pips EUR/USD
Stocks & ETFs: 0%

Deposits & withdrawals
Bank Wire, Credit Cards, e-wallets.. Paypal, Skrill, Neteller, Perfect Money, Webmoney, Klarna, POLi, Boleto

Bank Wire, Credit Cards, e-wallets.. Paypal, Skrill, Neteller, Unionpay, Klarna, POLi, Ideal, Trustly, Przelewy

Bank Transfer, Credit/Debit Card.. Paypal, Skrill, Google Pay

Bank Wire, Credit Cards, e-wallets..

Bank Wire

Bank Wire

Experience level
Beginner to Intermediate
Beginner & Intermediate
Beginner & Intermediate
All
Intermediate to Pro Intermediate, Advanced and Institutional investors
Intermediate to Pro
Overall Rating
4.9

4.8

4.9

4.7

4.8

4.9

Open account Open account Open account Open account Open account Open account

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.

Trading and Non-Trading Fees Compared

Trading and non-trading fees of nominated platforms are compared in the table below.

Broker

EUR/USD spread (standard)

CFD fees (gold)
Mutual fund fee
Crypto fees (maker/taker)
Deposit fees
Withdrawal fees
Inactivity fees

Stock fees

CFD fees (gold)
Mutual fund fee
Crypto fees (maker/taker)
Deposit fees
Withdrawal fees
Inactivity fees

CFD fees (gold)

Mutual fund fee
Crypto fees (maker/taker)
Deposit fees
Withdrawal fees
Inactivity fees
AVAtrade
0.15% average spread
0.15% average spread
3.4 pips
3.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Crypto spot trading is not available
N/A Crypto spot trading is not available
No No No
0.15% average spread
0.15% average spread
3.4 pips
3.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Crypto spot trading is not available
N/A Crypto spot trading is not available
No No No
0.15% average spread
0.15% average spread
3.4 pips
3.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Crypto spot trading is not available
N/A Crypto spot trading is not available
No No No
eToro
$0
$0
4.5 pips
4.5 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No Yes Yes
$0
$0
4.5 pips
4.5 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No Yes Yes
$0
$0
4.5 pips
4.5 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No Yes Yes
Plus500
$0.01
$0.01
4.4 pips
4.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No No Yes
$0.01
$0.01
4.4 pips
4.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No No Yes
$0.01
$0.01
4.4 pips
4.4 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
1%
1%
No No Yes
Pepperstone
N/A Real Stocks are not available
N/A Real Stocks are not available
2.0 pips
2.0 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Spot cryptos are not offered
N/A Spot cryptos are not offered
No No No
N/A Real Stocks are not available
N/A Real Stocks are not available
2.0 pips
2.0 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Spot cryptos are not offered
N/A Spot cryptos are not offered
No No No
N/A Real Stocks are not available
N/A Real Stocks are not available
2.0 pips
2.0 pips
N/A Mutual funds are not available
N/A Mutual funds are not available
N/A Spot cryptos are not offered
N/A Spot cryptos are not offered
No No No
Interactive Brokers
$0
$0
$0.1 $0.1/contract
$0.1 $0.1/contract
From $0 to $14.95 Depending on the mutual fund
From $0 to $14.95 Depending on the mutual fund
0.18%
0.18%
Yes Yes No
$0
$0
$0.1 $0.1/contract
$0.1 $0.1/contract
From $0 to $14.95 Depending on the mutual fund
From $0 to $14.95 Depending on the mutual fund
0.18%
0.18%
Yes Yes No
$0
$0
$0.1 $0.1/contract
$0.1 $0.1/contract
From $0 to $14.95 Depending on the mutual fund
From $0 to $14.95 Depending on the mutual fund
0.18%
0.18%
Yes Yes No
Saxo Bank
$0.02/share $0.02/share
$0.02/share $0.02/share
6.0 pips
6.0 pips
$0
$0
N/A Spot crypto trading is not available
N/A Spot crypto trading is not available
No No Yes
$0.02/share $0.02/share
$0.02/share $0.02/share
6.0 pips
6.0 pips
$0
$0
N/A Spot crypto trading is not available
N/A Spot crypto trading is not available
No No Yes
$0.02/share $0.02/share
$0.02/share $0.02/share
6.0 pips
6.0 pips
$0
$0
N/A Spot crypto trading is not available
N/A Spot crypto trading is not available
No No Yes

Top Rated Brokers Reviewed

Online brokers with the highest rated trading platforms in UAE are reviewed in more detail below.

1. AVAtrade – Best Forex and Options Trading Platform

AVAtrade logo

Rating: 4,9/5

ASSETS: Forex, Options, Stocks, Crypto, Commodities, Indices, CFDs

MIN. DEPOSIT: $100 (AED 370)

FEES: 0.6 pips (EUR/USD) and 0% commission on stocks and crypto

TRADING APP: YES

Open account Read review

71% of retail CFD accounts lose money

Avatrade is a regulated broker licensed by the ADGM and DFSA. Their trading platform offers access to a variety of assets including CFDs on forex, stocks, cryptos, commodities, and options. It is available through multiple devices including desktop, web and mobile apps. The brokers is preferred by intermediate and advanced traders looking to trade with CFDs on forex and options.

Trading platforms available at Avatrade are listed below.

  • WebTrader –  web based platform
  • AvaTradeGo – mobile trading app
  • AVAoptions –  options platform
  • AVAsocial – social copy trading app
  • Mac Trading – MAC trading app
AVAtrade’s selection of platforms and tools compared with other top choices from our list
Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Desktop
Web
Mobile
Easy to Use
Watchlist
Market Depth/Level 2
Advanced Charting
Trading Alerts
Demo Account
MT4/MT5
TradingView
Other non-Proprietary
Proprietary
Social/Copy Trading
Strategy Tester
Scalping

Third party integrations available to AvaTrade users are listed below.

  • Full MetaTrader Suite (MT4 & MT5)
  • Zulutrade & DupliTrade 
  • Capitalise.ai
  • Expert Advisors
  • Guardian Angel

The variety of trading tools offered by Avatrade allows users to implement different trading styles from automated trading, short selling, scalping and hedging. The user interface is simple and intuitively designed. All trading features are available in Arabic language.

Avatrade charges low forex spreads from 0.6 pips (EUR/USD). Zero commission trading is available on stock and crypto CFDs. They additionally charge overnight, currency conversion, and inactivity fees which makes their overall costs industry average.

Deposits and withdrawals are free of charge. Trading accounts can be funded using bank wire transfer, credit card, or e-wallets (Neteller, Skrill, or WebMoney).

Key features:

  • Access to 55 forex pairs, 44 forex options & 800+ CFDs
  • Fixed forex spreads from 0.9pip EUR/USD
  • Excellent copy trading features
  • Advanced mobile trading app (AvaTradeGO)
  • Access to the full meta trader suite (MT4 & MT5)

Recommended For:

  • Markets: Forex, CFDs and Options
  • Experience: Casual, advanced and algorithmic traders
  • Strategy: Manual trading, short selling, scalping, automated trading (social/copy)
  • Ranking: Top forex brokers in UAE for fixed spreads
Open account

71% of retail CFD accounts lose money

2. eToro – Best Beginner Trading Platform

eToro logo

Rating: 4,9/5

ASSETS: Stocks, ETFs, Forex, Indices, Commodities, Crypto, CFDs

MIN. DEPOSIT: $50 (185 AED)

FEES: 0.9 pips (EUR/USD) and 0% commission on stocks & ETFs

TRADING APP: YES

Open account Read review

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.

eToro is the best trading platform in UAE for beginners. It offers access to 5,000 financial instruments including stocks, ETFs, forex, indices, commodities, cryptocurrencies and CFDs. Users can trade on multiple devices including a web and mobile app. Both have an easy to use interface for starters.

Trading tools at eToro are easy to use for beginners. A list of  available features on eToro’s trading platform are listed below.

  • CopyTrader (copy and social trading)
  • Market, limit and advanced orders
  • Smart Portfolios (thematic portfolios)
  • Watch list
  • Risk management tools

All trading tools and features are available in Arabic, English and three other languages.

eToro charges 0% commission on stocks, ETFs and cryptocurrencies. They charge an average spread of 0.9 pips on most forex pairs. eToro’s non trading fees are above average and include overnight, inactivity ($10/month) and currency conversion fees ($5/conversion).

Educational materials are available in the form of technical and fundamental analysis, video series, webinars and podcasts. A free demo account is also available for educational purposes.

eToro’s customer support is available by email, phone and live chat in English and Arabic.

Key features:

  • Access to 135 global markets in 33 countries
  • Advanced order type management
  • Variety of fundamental and technical analysis tools
  • Fractional, OTCB and penny stocks
  • Industry lowest commissions
  • Low margin rates

Recommended For:

  • Markets: Stocks, ETFs, Options, Futures, Bonds, Indices
  • Experience: Casual, Advanced traders, Institutional investors
  • Strategy: Day, Algorithmic, Swing trading, Scalping and Auto investing
  • Costs: $0 commissions on stocks and ETFs. 0.18% on crypto
Open account

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.

3. Plus500 – Best For Mobile Trading

Plus 500 logo

Rating: 4,8/5

ASSETS: $100

MIN. DEPOSIT: $0,006 per share, commission-free CFD and forex trading, fixed and variable spreads, inactivity fees

FEES: Stocks, CDS on Stocks, Commodities, ETFs, Forex, Indices, Options, ESG investment vehicles

TRADING APP: YES

Open account Read review

CFD Service. Regulated by the DFSA. Trading carries risk.

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford to take the high risk of losing your money.

Plus500 is an internationally operating fintech group founded in 2008 with over 280,000 users. It has its own proprietary technology-based trading platforms and apps. Users can trade or invest in thousands of financial instruments through Plus500, including shares, 66 forex pairs, indices, ETFs, commodities, cryptocurrencies, 22 options, and CFDs on these asset classes across 25 global stock markets. Note that only US-based clients can trade ETFs and futures through Plus500. 

Plus500 has 3 proprietary trading platforms, including the browser-based and desktop-focussed Plus500 CFD WebTrader, Plus500 Invest, and Plus500 Android and iOS apps. 

  • Plus500 CFD – The proprietary browser-based Webtrader allows users access to over 2,000 financial instruments, including CFDs and options on multiple asset classes.
  • Plus500 Invest – Enables users access to thousands of shares and ESG investment vehicles catered to long-term investors.
  • Plus500 Trading App – Allows users to trade on the go. 

Plus500 doesn’t allow users to use third-party integrations, such as algorithmic trading via Expert Advisors or signal providers. Additionally, charting software like TradingView and TC2000 cannot be used. 

Plus500’s trading platforms feature advanced analysis tools, fast and reliable order execution, no commissions and tight spreads, real-time quotes, and fast and secure withdrawals. Additionally, its platforms are beginner-friendly and intuitively designed. 

Although Plus500’s trading platforms are feature-rich, they lack advanced features, such as level 2 order book data, option chains, and dynamic charting packages that include custom indicators and an extensive drawing toolkit. Thus, the broker is suitable for beginner and intermediate traders.

Plus500 offers commission-free CFD trading and charges an average spread of 0,8 pips (on EUR/USD). US Stocks are traded with a $0,006 commission per open/close. The broker charges no additional non-trading fees like deposit fees, withdrawal fees, custodial fees, or platform usage, except for inactivity fees ($10/month after 12 months of inactivity). 

Additionally, users are subject to competitive overnight funding fees, currency conversion fees (0,7%), and guaranteed stop order fees. This makes Plus500 one of the lowest-cost brokers available to UAE-based traders and investors.

Plus500 fees compared with other brokers
Broker AvaTrade eToro Plus500 Pepperstone Interactive Brokers Saxo Bank
Assets
Stocks Markets N/A 17 25 N/A 90 50
ETFs N/A 260 N/A N/A 13,000 7,000
Bonds N/A N/A N/A N/A 41,200 5,900
Mutual Funds Providers N/A N/A N/A N/A 550 17
Options Markets N/A N/A N/A N/A 34 20
Futures Markets N/A N/A N/A N/A 12 28
Forex Pairs 65 49 66 100 100 190
CFDs 1250 3250 2070 1570 8,050 19,100
Binary Options 64 N/A 22 N/A N/A N/A
Cryptos N/A 74 N/A N/A 4 N/A
Trading Platform and Accounts MT4, MT5, AvaOptions, AvaTradeGO, AvaSocial, Ava Mac Trading eToro Plus500 CFD, Plus500 Invest MT4, MT5, cTrader, TradingView IBKR Global Trader, Client Portal, IBKR Mobile, TraderWorkStation, IBRR EventTrader, Impact SaxoTrader Go, SaxoTrader Pro, TradingView, MultiCharts, UpData
Copy Trading Yes Yes No Yes No No
Algorithmic Trading Yes No No Yes Yes Yes
Advanced Charting Yes No No Yes Yes Yes
Demo Account Yes Yes Yes Yes Yes Yes
Min. Deposit $100 $100 $100 $0 $0,00 $2,000
Fees
Stocks $0,00 $0,00 $0,006 N/A $0,00 $0,01
Mutual Funds N/A N/A N/A N/A $15,00 $0,00
Options N/A N/A N/A N/A From $0,15 per contract  From $0,60 per contract
Futures N/A N/A N/A N/A From $0,25 per contract From $1,50 per contract
Forex Spread From 0,9 pips on EUR/USD From 0,9 pips on EUR/USD From 0,8 pips on EUR/USD From 1,1 pips on EUR/USD From 0,2 pips on EUR/USD From 0,8 pips on EUR/USD
General
Experience Level All types of Traders and Investors Beginner & Intermediate Traders and Investors Beginner & Intermediate

Traders and Investors

Beginner & Intermediate Traders and Investors Intermediate, Advanced, and Institutional Investors and Traders Advanced & Institutional Traders and Investors
Overall Rating 4,9 4,9 4,8 4,8 4,9 4,7

 

Key features:

  • Access to over 25 global markets and thousands of financial instruments
  • CFD trading and long-term investing opportunities through real shares
  • US-based clients have access to options and futures trading
  • Low margin rates and overnight funding fees
  • Beginner-friendly proprietary trading platforms and apps
  • Islamic Swap-Free and demo accounts available

Recommended For:

  • Markets: shares, forex, indices, ETFs, commodities, cryptocurrencies, options, futures
  • Experience: beginner to intermediate
  • Strategy: day trading, swing trading, hedging, scalping
  • Costs: commission-free CFD trading and $0,006 per US share per open/close

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. 82% 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 risk losing your money.

Open account

CFD Service. Regulated by the DFSA. Trading carries risk.

4. Pepperstone – Best CFD Platform (Winner For Mobile)

Pepperstone logo

Rating: 4,9/5

ASSETS: Forex, Stocks, ETFs, Crypto, Commodities, Indices

MIN. DEPOSIT $0 (0 AED)

FEES: 0.6 pips (EUR/USD) average spread

TRADING APP: YES

Open account Read review

74-89% of retail CFD accounts lose money

Pepperstone is a reputable CFD online broker with a license from the DFSA. They offer access to a wide range of assets including forex and CFDs on stocks, indices, commodities and cryptocurrencies.

Third party integrations available at Pepperstone are listed below.

  • MetaTrader 4
  • MetaTrader 5
  • TradingView
  • cTrader

Platforms are accessible on desktop (Windows and Mac OS), web (WebTrader) and mobile app (iOS and Android). Users can integrate a variety of third party add-ons including Capitalise.ai, AutoChartist, cTrader Automation, and VPS hosting. High liquidity is provided at 99.72% fill rate.

The platform offers access to a variety of trading tools which include:

  • Copy Trading
  • Real-time price quotes
  • Strategy backtesting
  • Advanced take profit/stop loss-levels
  • MT4 and MT5 mobile trading app
  • Expert advisors
  • Robo-advisors

The platform charges zero spreads on most forex pairs and a fixed commission of $3,50. They charge competitive spreads on other assets which makes their overall costs low. There are no inactivity and withdrawal fees charged.

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

Pepperstone’s research and education materials compared to other brokers:
Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Trading Signals
Market Research
Educational Resources
Webinars
Daily News
In-depth Market Analysis
Personal Training and Trading Room

Key features:

  • 60+ Forex pairs and 700+ different CFDs
  • MetaTrader 4, MetaTrader 5, cTrader
  • TradingView integration
  • Zero spreads
  • Tools for professional traders
  • Islamic swap-free account available

Recommended For:

  • Markets: Forex and CFDs
  • Experience: Average and Experienced Traders
  • Strategy: Day, Algorithmic, Swing trading, and Scalping
  • Costs: $0 commissions on stocks and ETFs. 0.18% on crypto
  • Ranked: Best CFD platforms in UAE
Open account

74-89% of retail CFD accounts lose money

5. Interactive Brokers – Best Stock and ETF Trading Platform (Winner for Day Traders)

Interactive Brokers

Rating: 4,9/5

ASSETS: Stocks, ETFs, Options, Futures, Bonds, Indices, Commodities, Forex

MIN. DEPOSIT $0 (0 AED)

FEES: 0% commission on stocks and ETFs

TRADING APP: YES

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 an electronic brokerage firm, founded in 1978. With 87,000 stocks as CFDs, they have the biggest selection of tradable shares. Their platform supports a wide range of trading tools including fundamental analysis tools, dynamic charting, a full-fledged news widget, option chains and detailed order flow information. All platforms are available on desktop, web and mobile.

Interactive Brokers has 4 proprietary platforms:

  • Trader Workstation TWS: is the advanced desktop version for experienced traders and institutional investors
  • Client Portal: is the web version, suitable for casual traders and beginners
  • IBKR app: is the forex trading mobile trading app
  • Impact app: is the stocks and crypto mobile  app

Third party integrations available on the TWS platform are listed below.

  • TradingView
  • TC 2000 and
  • Expert Advisors

It also features advanced research tools such as RefinitivIBKR Global Analyst stock screener and Trading Central. This makes it a great choice for advanced traders looking for customisation options.

The Client Portal platform has an easy to use interface which makes it better suited for beginners.

Interactive Brokers charges an average spread of 1.4 pips on most forex pairs. They charge 0.18% on cryptocurrencies and 0.9% on CFDs. This makes their overall trading cost the lowest in the industry.

Interactive Brokers fees compared with other brokers
Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Stocks N/A $0,00 $0.01 N/A $0,00 $1,00
ETFs N/A $0,00 $0.01 N/A $0,00 $1,00
Options $0,90 N/A N/A N/A $0,65 $1,25
Futures N/A N/A N/A N/A $0,85 $1,25
Mutual Funds N/A N/A N/A N/A $14,95 $0,00
Broker Assisted Fee N/A N/A N/A N/A $30,00 $50,00
Crypto N/A 1,00% N/A N/A 0,18% N/A
EUR/USD Spread 1 1 $0.80 0 1 1
Swap-free Account
Inactivity Fee
Funding Fees
Monthly Fee

Key features:

  • Access to 135 global markets in 33 countries
  • Advanced order type management
  • Variety of fundamental and technical analysis tools
  • Fractional, OTCB and penny stocks
  • Industry lowest commissions
  • Low margin rates

Recommended For:

  • Markets: Stocks, ETFs, Options, Futures, Bonds, Indices
  • Experience: Casual, Advanced traders, Institutional investors
  • Strategy: Day, Algorithmic, Swing and automated trading and Scalping
  • Costs: $0 commissions on stocks and ETFs. 0.18% on crypto
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.

6. Saxo Bank – Best Advanced Trading Platform

Saxo

Rating: 4,9/5

ASSETS: Stocks, ETFs, Options, Futures, Bonds, Indices, Commodities, Forex

MIN. DEPOSIT $2,000 (7,345 AED)

FEES: 0.8 pips (EUR/USD) average spread

TRADING APP: YES

Open account Read review

69% of retail investor accounts lose money when trading CFDs with this provider.

A vast selection of 71,000 financial instruments, high-end trading platform, and competitive pricing on higher trade volumes are only few characteristics that place Saxo Bank among the top trading platforms for advanced traders. It is an ideal choice for professionals looking for a flawless trading experience with unlimited customization options, order types, research features, and trade automatization capabilities. It provides free API access for users to deploy Expert Advisors, Robo-Advisors, and other forms of automated trading software.

Saxo Bank A/S is a well-capitalized investment bank founded in 1992. They provide traders and investors with worldwide market access, modern trading app technology, and competitive pricing. On the negative side, their minimum deposit requirement of $2,000 (7,350 AED) exceeds what most retail traders can afford.

Saxo Bank’s regulation by two major UAE financial authorities, The Central Bank of the UAE (Representative Office in Dubai) and the DFSA (Representative Office in DIFC), ensures UAE-based clients’ investments protection of up to 200,000 against bankruptcy and insolvency. Their long-lasting operational history and excellent capital ratios additionally help to establish it as a safe and trustworthy broker.

UAE-based Islamic traders and investors can use Swap-free accounts to trade in compliance with Sharia Law. The account upgrade is possible through Saxo Bank’s professional customer support,  available in English and Arabic in person (through their representative Office in Dubai), email, or a dedicated phone number (00 971 4 520 6999).

Key features

  • 71,000 tradable instruments
  • Advanced charting tools (MultiCharts, TradingView, Dynamic Trend)
  • Low forex spreads (0.6 pips EUR/USD)
  • Extensive educational resources
  • Islamic swap-free accounts

Recommended For

  • Markets: Forex, Options, Bonds and Cryptos
  • Experience: Advanced and institutional
  • Strategy: Automated, Day, Algorithmic, Swing trading and Scalping
  • Costs: Low fees on for high volume traders (0.6 pips EUR/USD)
Open account

69% of retail investor accounts lose money when trading CFDs with this provider.

How To Choose The Best Trading Platform and App in UAE?

Criteria for selecting an online broker in UAE with the ideal platform and app for traders individual needs are listed below.

Access to Wide Range Of Assets (Markets)

Brokers with access to a wider range of trading instruments should be preferred. They allow investment flexibility, deverzification and increases chances for profit.

Range of assets of the top choices are compared in the table below.

Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Stocks 0 3000 $1,900.00 0 16500 23500
ETFs 0 264 $96.00 0 1200 7000
Bonds 0 0 0 0 1000000 5900
Mutual Funds 0 0 0 0 45000 17700
Crypto (spot) 0 68 0 0 20 0
Commodities 0 0 0 0 1 0
Options 44 0 0 0 50000 3200
Futures 0 0 $0.00 0 30000 250
Forex 59 49 66 138 105 190
CFDs 158 2800 2070 4000 7000 19100

Low Overall Fees (Trading & Non-Trading)

Two types of fees need to be considered: trading fees (spreads, commissions, flat rates) and non-trading fees (overnights, conversion fees, deposit and withdrawal fees). Brokers with lower overall fees should be preferred.

Fees for trading with different assets of the top 5 choices are compared in the table below.

Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Stocks N/A $0,00 $0.01 N/A $0,00 $0.01
ETFs N/A $0,00 $0.01 N/A $0,00 $0.01
Options Spread from 7 N/A N/A N/A $0,15 $0.60
Futures N/A N/A N/A N/A $0,25 $1.50
Mutual Funds N/A N/A N/A N/A $14,95 $0.00
Broker Assisted Fee N/A N/A N/A N/A $30,00 $50.00
Crypto N/A 1,00% N/A N/A 0,18% N/A
EUR/USD Spread 0,6 0,9 $1.00 0,6 1,4 1
CFD Gold spread/commision 0,29 0,45 0 0,50 15.00% 1
CFD Bitcoin spread/commision 44,46 614,28 22,00 15,00 N/A N/A
CFD Apple spread/commision 0,21 0,61 0 0,20 0,05% 0
Swap-free Account
Inactivity Fee
Funding Fees
Monthly Fee

Preferred Deposit and Withdrawal Options

Preferred deposit and withdrawal options of users need to be considered. Banking options by top 5 choices are compared in the table below.

Broker Ava Trade eTorro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Bank Wire Yes Yes Yes Yes Yes Yes
Credit/Debit card Yes Yes Yes Yes No No
E-Payments Yes Yes Yes Yes No No
Cryptocurrency No Yes No No No No
Direct AED Deposits No No No Yes Yes No
Account Minimum $100
(370 AED)
$50
(185 AED)
$100
(370 AED)
$0
(0 AED)
$0
(0 AED)
$2000
(7300 AED)

Preferred Third-Party Integrations

Third party integrations: Integrations of third party providers extend trading abilities (research, charting, automated trading). The most popular integrations are: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, TradingCentral, and NinjaTrader. Traders’ knowledge level, trading style, and trading goals should be considered when choosing the optimal choice.

Availability of third-party integrations of the top choices are compared in the table below.

Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Third-party integrations MT4, MT5, Zulutrade, DupliTrade, Capitalise.ai N/A N/A MT4, MT5, TradingView, cTrader, Autochartist TradingView, NinjaTrader, Capitalise.ai TradingView, MultiCharts, Open API Excell, UpData

Great Reputation (Nr. of Users & Licences)

Reputation: Choosing a reputable online broker helps to increase trader’s overall safety and avoiding scams. Brokers with a high number of users, positive reviews (feedback), and tier-one licences should be preferred.

Broker AvaTrade eToro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Number Of Users 400K 2.8M 280k 300K 2M 1M
Tier One Licences ASIC, FSA, FSCA, MiFID, BVI FSC, ADGM ASIC, CySEC, FCA, FSCS ASIC, CYSEC, FCA, FSCA, FSA, MAS FCA, ASIC, DFSA NYSE, FINRA, SIPC ASIC, SFC, JFSA, MAS, FINMA, FCA

Mobile Trading Apps

Mobile app: Mobile apps are used to trade on the go. Users need to consider the following characteristics of mobile apps: compatibility of operating systems (iOS, Android), functionality (access to the same trading features as available on desktop and web versions), and user experience (intuitive trading interface).

Broker Ava Trade eTorro Plus 500 Pepperstone Interactive Brokers Saxo Bank
Android app Yes Yes Yes Yes Yes Yes
Apple iOS app Yes Yes Yes Yes Yes Yes
MT4 Yes No No Yes No No
MT5 Yes No No Yes No No
cTrader No No No Yes No No
Watchlist Yes Yes Yes Yes Yes Yes
Charting – Indicators Yes Yes Yes Yes Yes Yes
Charting – Drawing tools Yes Yes Yes Yes Yes Yes
Charting – Timeframes Yes Yes Yes Yes Yes Yes
Economic calendar Yes Yes Yes Yes Yes Yes

Traders Personal Preferences

Personal Preferences: Trader’s preferences that should be taken into account are: religion (Islamic account options), language (Arabic, English, Malayalam, Kananda), investment style (automated trading, swing trading, day trading, algorithmic trading, leverage), and residential status in UAE (citizen, expat, tourist).

Which Are the Best Trading Apps for UAE and Dubai?

The best trading apps in UAE include:

  • AvaTradeGO – Top overall experience. Slick design resembling the web trading experience, syncing watch-lists and intuitive trading features including a risk management tool (AvaProtect).
  • Pepperstone cTrader app – Intuitive design. Wide range of trading features including TradingView, various customisation options and frequent updates.
  • IBKR Mobile – Ideal for professional traders. Vast selection of advanced trading features, portfolio management options and fast data streaming.
  • eToro app – Great choice for beginner. Ease of use, mirroring features of the web platform including watchlist syncs and responsive charting options.

You can compare key features of the top rated app in the table below.

Broker

Trading app rating

Available Assets

Nr. of Trading app downloads

Available Assets
AVAtrade
4.8
4.8
1M+
1M+
Forex, CFDs, Options, Stocks.. CFDs on Forex, Options, Stocks, Cryptos, Indices and Commodities
Forex, CFDs, Options, Stocks.. CFDs on Forex, Options, Stocks, Cryptos, Indices and Commodities
4.8
4.8
1M+
1M+
Forex, CFDs, Options, Stocks.. CFDs on Forex, Options, Stocks, Cryptos, Indices and Commodities
Forex, CFDs, Options, Stocks.. CFDs on Forex, Options, Stocks, Cryptos, Indices and Commodities
eToro
4.7
4.7
10M+
10M+
Stocks & ETFs, Forex, Crypto.. CFDs on Stocks, ETFs, Forex, Cryptos, Indices, Commodities, Bonds and Indexes
Stocks & ETFs, Forex, Crypto.. CFDs on Stocks, ETFs, Forex, Cryptos, Indices, Commodities, Bonds and Indexes
4.7
4.7
10M+
10M+
Stocks & ETFs, Forex, Crypto.. CFDs on Stocks, ETFs, Forex, Cryptos, Indices, Commodities, Bonds and Indexes
Stocks & ETFs, Forex, Crypto.. CFDs on Stocks, ETFs, Forex, Cryptos, Indices, Commodities, Bonds and Indexes
Plus500
4.8
4.8
500k+
500k+
Stocks, ETFs, Forex.. CFDs on Stotcks, Indices, Commodities, Cryptos
Stocks, ETFs, Forex.. CFDs on Stotcks, Indices, Commodities, Cryptos
4.8
4.8
500k+
500k+
Stocks, ETFs, Forex.. CFDs on Stotcks, Indices, Commodities, Cryptos
Stocks, ETFs, Forex.. CFDs on Stotcks, Indices, Commodities, Cryptos
Pepperstone
4.4
4.4
2,5M+
2,5M+
Forex, CFDs, Stocks Indexes.. Forex and CFDs on Stock Indexes, ETFs, Commodities and Cryptos
Forex, CFDs, Stocks Indexes.. Forex and CFDs on Stock Indexes, ETFs, Commodities and Cryptos
4.4
4.4
2,5M+
2,5M+
Forex, CFDs, Stocks Indexes.. Forex and CFDs on Stock Indexes, ETFs, Commodities and Cryptos
Forex, CFDs, Stocks Indexes.. Forex and CFDs on Stock Indexes, ETFs, Commodities and Cryptos
Interactive Brokers
4.9
4.9
1M+
1M+
Stocks, ETFs, Futures, Options.. Stocks, ETFs, Bonds, Options, Futures, Mutual Funds, Commodities, Forex, CFDs, REITs
Stocks, ETFs, Futures, Options.. Stocks, ETFs, Bonds, Options, Futures, Mutual Funds, Commodities, Forex, CFDs, REITs
4.9
4.9
1M+
1M+
Stocks, ETFs, Futures, Options.. Stocks, ETFs, Bonds, Options, Futures, Mutual Funds, Commodities, Forex, CFDs, REITs
Stocks, ETFs, Futures, Options.. Stocks, ETFs, Bonds, Options, Futures, Mutual Funds, Commodities, Forex, CFDs, REITs
Saxo Bank
4.8
4.8
1M+
1M+
Forex, Bonds, Funds, Options.. Forex, Bonds, Mutual Funds, Options, Futures, Stocks, ETFs, CFDs, Commodities
Forex, Bonds, Funds, Options.. Forex, Bonds, Mutual Funds, Options, Futures, Stocks, ETFs, CFDs, Commodities
4.8
4.8
1M+
1M+
Forex, Bonds, Funds, Options.. Forex, Bonds, Mutual Funds, Options, Futures, Stocks, ETFs, CFDs, Commodities
Forex, Bonds, Funds, Options.. Forex, Bonds, Mutual Funds, Options, Futures, Stocks, ETFs, CFDs, Commodities

What To Consider Before Starting (Tips for Beginners and Intermediate Traders)?

Guidelines to be considered by inexperienced traders are listed below.

Make Use Of Trading Ideas (signals, social & copy trading)

The use of trading ideas and trading recommendations increase chances for profit. Those can be accessed through brokers’ in-house tools (signals, copy trading features) or third party integrations (TradingView, DupliTrade, ZuluTrade).

Start Trading on a Demo Account

Demo account allows users to test their trading strategies and familiarise with the trading dashboard. Demo accounts allow trading with virtual money and prevent inexperienced traders from unexpected losses.

Avoid Trading With Certain Assets

Trading with CFDs, options and penny stocks increase the risk potential of losing money. Inexperienced traders should avoid trading with the listed assets.

Don’t Fall For Leverage Trading

Trading with leverage (borrowed money from the platform) allows traders to amplify their trading position. While it increases potential profits, it also amplifies the risk of potential losses. Trading with leverage should be avoided by beginner traders because of the greater chances of losing money.

How Is Online Trading Regulated In The UAE?

Online trading in UAE is regulated on two levels: the federal and economic free zone level.

  1. Online trading on the federal level (UAE mainland) is regulated by the the Securities and Commodities Authority (SCA). The SCA is a federal government agency established in 2000. It overseas financial activities on the security and commodity markets in UAE including the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX).
  2. Online trading in the economic free zone areas is regulated by their independent regulatory authorities. The main bodies are the Dubai Financial Service Authority (DFSA), the Financial Services Regulatory Authority (FSRA). Traders can check if a brokers is regulated by the DFSA on their official website in the public register section. Existence and validity of FSRA licences can be confirmed on ADGM’s website.

Are Traders and Investors in the UAE Protected Against Fraud?

The SCA is the main authority that aims to protect traders and investors in the UAE against fraudulent tactics, including deceptive, manipulative, and speculative activities. The main mechanisms adopted by the SCA to protect investors against fraud include regular reviews of licensed brokers, requirement for segregated accounts, sufficient account balances,  transparent and effective disputes resolution and adoption of Anti-Money Laundering (AML) and know-your-client (KYC) practices.

Traders and investors in the UAE are not protected through an investor protection fund (IPF) in case of fraud or broker bankruptcy.

Conclusion

Online trading and investing is a popular way in the UAE to achieve financial gains and grow wealth. However, the various financial services available on the market require users to evaluate, compare and review a large amount of data to find a suitable option for their needs.

This guide does the hard for our readers to keep them safe and informed by comparing, evaluating, and reviewing the services of 213 brokers available to UAE citizens, residents, and capital nomads. The results of our assessment of the best trading platforms in the UAE are summed 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.

RANKBROKERBUSINESS24-7 PLATFORM SCORERECOMMENDED FORMINIMUM DEPOSIT
#1AVAtrade4.9Forex Forex and Options$100
#2eToro4.9Beginners$50
#3Plus5004.9For Mobile Trading$100
#4Pepperstone4.8Trading with CFDs$0
#5Interactive Brokers4.8Investing in stocks and ETFs$0
#6Saxo Bank4.8Advanced Traders$0

Video Summary

Watch a short recap of the top rated choices in the video below.

FAQ

Which brokers allows direct AED (Dirham) deposits?

Brokers that allow direct AED (Dirham) deposits without conversion fees are eToro and Interactive Brokers. Other brokerages from our list require USD deposits and charge conversion fees currency deposits other than USD.

Is Dirham A Base Currency for Online Trading in UAE?

Yes, the Dirham (AED) is a base currency for online trading in UAE. However, most online brokers require UAE clients to exchange Dirhams (AED) to a major currency like USD, EUR or JPY to make an account deposit.

Which brokers offer commission-free trading in UAE?

Brokers that offer zero commission trading in UAE include eToro, AvaTrade and Pepperstone.

Is online trading legal in UAE?

Yes, online trading is legal in UAE. It is regulated by two financial regulators: the Dubai Financial Service Authority (DFSA) and the Securities and Commodities Authority (SCA).

How are profits of individuals generated with online trading and investing taxed in the UAE?

Profits of UAE citizens and residents generated with online trading are not subject to income tax in the UAE. Profits of expats and tourists living in the UAE are subject to tax laws of their country of residence.

Which trading provider in UAE is available in Malayalam and Kananda Language?

Zerodha is the only broker in UAE that supports trading in Malayalam and Kananda language.

What makes the UAE an attractive market to invest?

Criteria that make the UAE market attractive for national and international investments include a stable and diverse economy, political stability, beneficial tax laws, a protective legal environment, and an expat-friendly regulatory environment.

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. 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. 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 does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital 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.

8 COMMENTS

    • Hey Mumaham,
      you only need to register for a NIN number if you want to trade UAE stocks listed on the DFM, ADX, or Dubai NASDAQ. If you use an offshore broker or any online broker to trade UAE stocks, you don’t need to register for a NIN number.

    • Hey Ilya,
      all of the brokers we have listed have great mobile apps and it really depends on what you are looking for in an app.
      – AVAtrade basically offers the whole spectrum of apps (proprietary apps AVAtradeGO, AVAoptions, third party integrations in MT4 and MT5)
      – Capital.com offer 3 different apps where one of them is only for educational purposes
      – eToro offers a great app for beginners
      – Saxo bank has a great app for professional traders with advanced features and customisation options

      Hope this helps

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