Best Silver Trading Platforms in UAE

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The best silver trading platforms in UAE are eToro, Capital.com, Libertex, AvaTrade, and Interactive Brokers. In this guide, we will explain why these are the best silver brokers for UAE-based traders and what to keep in mind when trading silver online. 

Our List of Top Silver Trading Platforms – Updated for 2022

  • eToro – Best Overall Silver Trading Platform
  • Capital.com – Best CFD Silver Trading Platform for UAE Traders
  • Libertex – Best Low-Cost Silver Trading Platform 
  • AvaTrade – Best Multi-Platform Silver Trading Broker 
  • Interactive Brokers – Best CBOT Silver Trading Platform

01. eToro: Best Overall Silver Trading Platform

etoro-rating

eToro is the best overall silver trading platform because you can trade the best SPDR ETFs commission-less with them with up to 20:1 leverage. Over 20 million traders use eToro’s trading app and social trading platform to trade silver. eToro is CySec-regulated and offers a demo account for beginner traders.

ProsCons
Commission-less silver tradingLacks advanced analysis tools
Up to 20:1 leverage
Social trading platform

02. Capital.com: Best CFD Silver Trading Platform for UAE Traders

capital-com-rating

Capital.com is the best CFD silver trading platform for UAE traders because they offer commission-less silver CFDs with low spreads. You can trade CME Globex silver CFDs and silver spot CFDs with Capital.com. They also offer CFDs on silver companies like Wheaton Precious Metals, Pan American Silver Corp., and First Majestic Silver Corp. Capital.com is CySec-regulated and you can open an account from 100 AED with them. 

ProsCons
Commission-free CFD tradingOnly CFDs
CySec-regulated 
Low minimum deposit

03. Libertex: Best Low-Cost Silver Trading Platform 

libertex-rating

Libertex is the best low-cost silver trading platform for UAE traders because it offers commission-less trading on silver CFDs and charges only 0,1% in spread fees. You can trade spot silver CFDs with Libertex, or speculate in silver companies like Great Panther Silver Limited, Hecla Mining, and MAG Silver Corp. Libertex is compatible with MT4 and MT5 and you can trade silver with up to 30:1 leverage with them. You can open a Libertex trading account from 100 AED or practice with a demo account first.

ProsCons
Low feesOnly CFDs
Leverage up to 30:1
Compatible with MT4 and MT5

04. AvaTrade: Best Multi-Platform Silver Trading Broker 

avatrade-rating

AvaTrade is the best multi-platform silver trading broker for UAE traders because it has multiple proprietary trading platforms and you can connect it with social trading platforms. You can trade silver CFDs with AvaTrade’s WebTrader, silver futures on AvaTradeGO, or copy professional silver traders with AvaSocial, ZuluTrade, and DupliTrade. AvaTrade is compatible with MetaTrader 4 and 5 and allows automated trading via Expert Advisors. 

For Muslim traders that want to trade according to Sharia law, AvaTrade has Islamic trading accounts available. AvaTrade is FRSA-regulated and listed on the Abu Dhabi Global Markets. You can visit their Dubai office or open an AvaTrade account online. 

ProsCons
Multiple trading platformsCharges inactivity fees
Islamic swap-free and demo accounts 
FRSA-regulated and ADGM-listed

05. Interactive Brokers: Best CBOT Silver Trading Platform

interactive-brokers-rating

Interactive Brokers is the best CBOT silver trading platform because you can trade silver from the Chicago Board of Trade with them. It is an American broker that is in business for almost 35 years regulated by the US Securities and Exchange Commission. You can trade IBKR Spot Silver (XAGUSD) and COMEX deliverable silver futures with Interactive Brokers. Interactive Brokers charges low commissions, starting at 0,015%, and gives professional traders access to wholesale silver pricing. Interactive Brokers require no minimum deposit to open a trading account with them. 

ProsCons
CBOT and COMEX silver futures availableTrading platform can be overwhelming for beginners
Low commissions
No minimum deposit

Quick Facts About Silver?

Silver is a precious metal that is electrically conductive and used to produce jewelry, coins, electronics, and other products. Silver is second to gold as the most sought-after metal by investors and is associated with wealth and beauty. UAE Traders trade silver on the Dubai Gold & Commodities Exchange. Find our more about trading with different commodities including silver in our guide.

How To Choose the Best Silver Trading Platform as UAE Trader?

You choose the best silver trading platform as a UAE trader by comparing available assets, fees, trading tools, and features between brokers. 

1. Available Assets

The best silver trading platforms offer spot silver trading, deliverable silver futures trading, silver CFD trading, silver ETFs, and silver-related stocks. Apart from silver-related financial instruments, the best silver trading platforms offer gold, copper, and other precious metal products as well. 

Read our complete guide on metal trading in UAE

2. Silver Trading Fees

Even the best silver trading platforms charge fees like commissions, spreads, leverage fees, and other fees. Brokers need to make money and they do so by charging their clients fees.

  • Commissions – Some brokers charge traders commissions on every trade of about 0,1% – 0,2%. The brokers in this guide don’t charge commissions on silver trading but spread instead.
  • Spreads – In silver trading spreads refer to the difference in price between the raw material and the finished product. In trading terms, spreads refer to the price mark-up a broker adds to the current silver price to make a profit. 
  • Leverage Fees – If you trade silver with leverage, you will have to pay your broker interest for the loan taken to finance the position(s). 
  • Other Fees – Other silver trading fees include inactivity fees, transaction fees, and currency conversion fees. Most brokers charge you an inactivity fee if you keep your account with them dormant. Some brokers charge transaction fees for deposit/withdrawing money. You will need to pay currency conversion fees if you trade in other currencies than your bank, e-wallet, or other payment method used linked to your trading account.

3. Trading Tools

Most brokers offer silver trading tools like indicators, dynamic charting, and other ways to conduct technical analysis. 

4. Silver Trading Platform Features

The best silver trading platforms in UAE offer features to their clients like different order types, alerts, demo accounts, multiple payment methods, and excellent customer service. 

  • Order Types – Good silver brokers will have Trailing Stop-Loss, Guaranteed Stop-Loss, Good for the Day, Good’Till Cancelled, and One-Cancels-the-Other orders available.
  • Alerts – With the best silver trading platforms in the United Arab Emirates you can set alerts so that you get price notifications on your device(s). 
  • Demo Accounts – The best silver trading platforms in UAE offer demo accounts to their clients, which they can use to practice silver trading and familiarize themselves with the platforms. 
  • Payment Methods – You can fund your silver trading accounts by bank transfer, credit card, and e-wallets with the best silver trading brokers in UAE. 
  • Customer Service – The best silver trading platforms in UAE mentioned in this guide all provide 24/7 live chat and email support in English and Arabic. 

Getting Started with Silver Trading in UAE – eToro

You get started with silver trading in UAE with eToro by opening a trading account, confirming your identity, depositing funds, and placing your first silver trade. 

Best Silver Trading Platforms in UAE


1. Opening an Account
You open an eToro trading account by going to their website, clicking on ‘Sign Up’, and filling in your personal details. 

etoro-account-opening

2. Confirming Your Identity
To confirm your identity with eToro you will need to upload a photo of your passport, national ID card, or driver’s license and a photo of a recent utility bill or bank statement not older than 3 months. 

silver-trading-id-verification-etoro

3. Depositing Funds
eToro accepts credit card, e-wallet, and bank transfer deposits to fund your account. The minimum deposit required is 200 AED. 

4. Placing First Silver Trade
You place your first silver trade with eToro by searching for the silver-related financial instrument you want to invest in, clicking on ‘Trade’, and specifying how much you want to invest, what leverage you want to use, and whether you want to go long or short (buy/sell). 

Final Verdict

The best silver trading platforms in UAE are eToro, Capital.com, AvaTrade, Libertex, and Interactive Brokers because they offer multiple ways to trade silver at low fees. We recommend trading silver with eToro but the other brokers mentioned are equally good.

FAQ

What is the cheapest silver trading platform?

eToro offers commission-less silver trading making it the cheapest silver trading platform.

What is the best silver trading platform for new traders?

eToro is the best silver trading platform for new traders because it offers a user-friendly trading platform with a low minimum deposit required to open an account.

Is it safe to trade silver online?

Yes, it is safe to trade silver online with the regulated brokers mentioned in this guide.

Where can I trade silver online with PayPal?

eToro, Libertex, AvaTrade, and Capital.com accept PayPal deposits to fund your silver trading account.

What is the best silver trading platform for UAE traders?

eToro is the best silver trading platform for UAE traders.


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.