Best Stock Brokers in UAE | Award Winners of 2022

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Are you interested in online trading and looking for the best stock brokers in UAE? To make your decision easier, our team of analytics has assessed 133 online stock brokers available in UAE and compared their services in 8 different categories. They considered the full spectre of their brokerage service based on our testing methodology and weighted their performance using fees, mobile trading apps, customer support, platforms, tradable assets, deposits & withdrawals, regulation, research & education and islamic account availability. The result is a list of platforms where every type of trader will find their favourite regardless their trading style and knowledge level.

Are you looking for the most suitable broker for casual traders, best performing platform for advanced traders or you just want the cheapest overall offer? After measuring 198 variables across multiple brokers and comparing 2400+ data points overall, this are the best stock brokers in UAE in each category:

5 Best Stock Brokers In UAE

Want to speed things up? You can take a look at the best stock brokers in UAE below without going through the full guide.

  1. eToro – Best beginners broker
  2. AVAtrade – Best CFD stock broker
  3. Interactive Brokers – Best overall brokers
  4. Saxo Bank – Best for professional and high volume traders
  5. Pepperstone – Best zero commission broker
RANKBROKERPLATFORM SCORESTOCK TRADIG FEESNr. OF STOCKMIN. DEPOSITACC. MINIMUM
#1eToro4.9/5$02800 stocks/
2800 CFDs
AED 700$0
#2AVAtrade4.8/5$01000 CFDSAED 300$0
#3Interactive Brokers4.9/5$0.005/share16,500 stocks/
8,000 CFDs
AED 0,00$0
#4Saxo Bank4.9/5$1.0/share30,000 stocks/
19,000 CFDs
AED 7.300$0
#5Pepperstone4.8/5$0300 stocks/
600CFDs
AED 0,00$0

Are you looking for detailed information about each broker from our list of top choices including pros, cons? Below we break down the top 6 stock brokers in UAE, beginning with the highest rated, eToro.

TOP 5 Stock Brokers in Overview: 

01. eToro: Best Beginner Stock Broker

etoro-rating

eToro is a safe online broker regulated by top-tier financial regulators. It is known for its multi-asset, features-rich trading app, and advanced social trading platform. This lets users copy trades and portfolios from other traders. Built in a forum-like way, it allows engagement between peers through a comment section.

eToro offers a range of different tradable assets including:

  • 2800 stocks
  • 2800 stocks as CFDs
  • 54 commodities
  • 49 forex currency pairs
  • 32 crypto CFDs
  • 250 CFD indices and Funds
  • 54 commodities

Trading spreads are wide; deposits are free. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is responsive and is available through email, phone and live chat.

If you are a beginner or casual trader looking for ease of use, strong social trading features and beginner friendly buy and sell options, eToro is a great broker to consider.

Pros:

  • Access to over 4000+ tradable symbols
  • High “ease of use” level and fast account opening
  • Great mobile trading app and platforms
  • Industry leading social/copy trading app
  • Great cryptocurrency trading features
  • Responsive customer support

Cons:

  • Algorithmic trading not available
  • Forex and CFD fees above industry average
  • Education and research tools missing
  • Advanced trading features are missing

Key Takeaways:

  • 0% commission stock trading
  • 2500 stocks available
  • Industry leading social trading app
  • 5000+ tradable symbols overall
  • Fast on-boarding and KYC verification

02. AVATrade: Best CFD Stock Broker

avatrade-rating

AVAtrade was founded in Dublin in 2006, AvaTrade offers average-to-competitive fee spreads and several tradable currency pairs and CFD’s over stocks. They provide several platforms, each aimed towards traders with different experience and skill levels.

Deposits and withdrawals are free of charge. The minimum deposit is $100. There are fees for inactivity and overnight financing. A dedicated educational and research section offers several free courses, videos, and market analysis. Customer support is responsive and available through phone, email, and live chat.

This broker is regulated by top tier financial authorities including the Australian Securities & Investment Commission(ASIC), Central Bank of Ireland (CBI), Japanese Financial Services Authority (JFSA), the Investment Industry Regulatory Organization of Canada (IIROC) and the Abu Dhabi Global Markets (ADGM). Given that AvaTrade is regulated and licensed by top financial regulators, it is considered safe.

Recommended for casual traders who are looking to trade stocks as CFDs.

Pros:

  • Access to 130 international stocks as CFDs
  • Great diversity of platforms: MT4, MT5, AVAtradeGO
  • Zero cost deposits and withdrawals options
  • Fast and simple on-boarding
  • Great mobile app for options trading (AVAsocial)

Cons:

  • Most assets are available only as CFDs
  • Inactivity fee of $50/90days

Key Takeaways:

  • Zero commission stock trading
  • Leverage of up to 5:1
  • 100+ stocks as CFDs available
  • Great educational and research tools
  • Multilingual client support

03. Interactive Brokers: Best Penny Stocks Broker 

interactive-brokers-rating

Interactive Brokers finished on the third place as the best broker for penny stocks. It is a safe online broker known for its Trader’s Workstation platform, zero commission trades, great variety of trading tools and leading pricing for professionals. Are you looking for an overall great offer with beginner to advanced trading and charting features then this is the broker to go with.

Interactive Brokers offers access to 135 global markets in 33 countries. Its portfolio is vast and has 68 distinct order types including: 

  • 16,500 shares
  • 8000 stock CFDs
  • 35,000 ETFs and Funds
  • 3052 Indices
  • 50,000 Options
  • 1000000 Bonds

Professional traders enjoy the industry-leading low fees and low margin rates. It has premium trading platforms for Day, Mobile, Options, and Futures traders.  Both casual and beginner traders can use this broker’s platform. It is straightforward and has diverse research and education tools.  

Recommended for institutional investors, professional traders and day traders.

Pros:

  • Best market coverage in the industry (100k+ assets on different instruments)
  • Access to 16,500 shares and 8,000 stocks as CFDs
  • Professional trading platform suitable for different types of traders
  • Intuitive and easy to use mobile trading app
  • Industry leading fee structure
  • Compatible features for casual and professional traders
  • Responsive customer support

Cons:

  • Few deposit and withdrawal options
  • Research and education materials missing

Key Takeaways:

  • 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

04. Saxo Bank: Best High Volume Broker

saxo-bank-rating

Saxo Bank was founded in 1992, Saxo Bank is a low risk online broker, well-regulated bank by the:

  • Financial Conduct Authority (FCA)
  • FINMA (Switzerland)
  • Australian Securities and Investments Commission (ASIC)
  • Financial Services Authority of Seychelles (FSA)
  • JFSA (Japan)

Saxo Bank is the best trading platform for forex and CFD known for their intuitive SaxoTraderGO platform, competitive margin rates, and more than 40,000 trading instruments. The overall user experience is great. The opening deposit is USD 10,000 ( GBP 500 for the UK, SGD 500 for Singapore). 

Saxo Bank provides a unique platform and competitive pricing. They combine high-quality in-house research with top-tier third-party providers to offer an outstanding research experience. Their customer service is outstanding. UAE citizens are offered the ability to trade in compliance with Sharia law using an Islamic account. Support is available in the Arabic language by email or directly in the local offices.

If you are a professional trader looking for advanced trading features, fully customisable order types and ease of use of trading platforms, Saxo Bank is a great choice.

Pros:

  • Industry leading market coverage
  • Access to 30.000 shares and 19,000 stock CFDs
  • Fully customisable trading features on SaxoTraderGo
  • Advanced order type and account protection features
  • Intuitive and easy to use mobile trading app
  • Great education and research materials
  • Competitive fee structure for active traders

Cons:

  • $10,000 minimum deposit for UAE users
  • Time intense for set up
  • Unlimited options – only for advanced traders

Key Takeaways:

  • 220,000 international stocks available
  • 6400 + ETFs
  • Stocks available from $0.001 commission rates
  • Fully customisable trading tools
  • Industry leading education and research section

05. Pepperstone: Best Trading Platform and App

pepperstone-rating

Pepperstone finished at number five as the broker with the best trading platform and app for stock trading in UAE. They offer access to the full MetaTrader suite (MT4 and MT5), cTrader, cAlgo, and wide range of add-ons and plugins for different trading styles from copy to algorithmic trading. (MirrorTrader, Duplitrade, RoboX). The overall great trading experience gets rounded up by a intuitive and easy to use mobile trading app, which mirrors most of the features available on the web and desktop versions. You can check how Pepperstone performs compared to the best platforms and apps in UAE here.

Based in Melbourne, Pepperstone is regulated by two tier one regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA) and is considered safe. Besides stocks, their users can trade on a variety of other assets including CDFs in forex, cryptocurrencies, indexes, shares, and commodities. Pepperstone has a low minimum deposit, great customer support, an above-average research section, and an award-winning set of educational tools. Their customer service is fast and reliable. It is available through 24/5 phone and online chat support plus an extensive FAQ web section, and e-mail.

This broker is excellent for traders at all levels looking for a great trading platform experience.

Pros:

  • Great for algorithmic and copy traders
  • Multiple platform add-ons
  • Competitive fees and commissions
  • Advanced social trading features
  • Excellent education and research section
  • Competitive fee structure for day traders

Cons:

  • Lack of video educational resources
  • Advanced order types missing
  • Customer support not in Arabic

Key Takeaways:

  • 600 + stocks as CFDs available
  • Great variety of trading platforms (MetaTrader + cTrader)
  • Multiple advance trading add-ons
  • Social trading features
  • Competitive pricing for active traders

How Did We Select The Best Brokers For Stock Trading in UAE?

To get our list of the top choices, we have analysed and compared 133 online broker in 8 major categories which are most important for stock trading. These include: fees, platforms, assets, deposits & withdrawals, education & research, regulation and customer support. Below is a quick breakdown of what we have assessed in each category:

  • Fees – Choose a stock broker with a competitive fee structure and without inactivity fees or overnight fees.
  • Platforms – Choose a trading platform which is intuitive, easy to use and offers mobile app support for iOS and Android.
  • Assets – The brokerage account should offer access to markets and symbols you want to trade.
  • Deposits & Withdrawals – The broker should offer a wide range of depositing options including modern ways of depositing money like e-wallets, Paypal, Skrill and Neteller. Deposits and withdrawals should be free of charge.
  • Research & Education – We recommend online brokers who offer private room access, weekly webinars, private account managers and advanced educational materials.
  • Regulation – A secure stock broker contributes to a premium online trading experience. Top-tier licenses ensure a broker follows the highest safety requirements and standards set by financial regulators.
  • Customer Support – Fast responding and knowledgeable customer service is a must for beginners. You should opt for brokers who offer at least email, phone and live chat support.

*Safety Risks For UAE Citizens: All stock brokers from our list are regulated by at least one of the international financial regulator authorities like ASIC, FCA, and CySEC. UAE based brokers should have a valid license by the SCA and DFM.

Our Top Stock Brokers Compared Side By Side In Each Category

The table below compares the top 5 stock brokers in each of the categories tested:

eToroAVATradeIBKRSaxo BankPepperstone
Overall Score4.94.84.74.74.4
Platform Score5.05.04.95.05.0
Fees Score4.94.94.54.24.5
Mobile App Score4.94.94.94.85.0
Deposit & With. Score4.94.54.74.75.0
Assets Score4.94.84.74.95.0
Regulation Score5.05.04.45.04.8
Research & Edu Score5.04.75.05.04.5
Support Score4.94.75.04.64.4

Which Is The Top Stock Trading Platform in UAE for Beginners?

The best stock trading platform for beginners is eToro. They offer a easy buy/sell options for stocks, great educational resources on stock trading, zero commission fees on shares and responsive customer support. Additionaly they also offer copy trading features.

Which Is The Best Performing Stock Trading App in UAE?

Interactive Brokers has the best stock trading app. Their mobile app has almost the same features and the web and desktop versions, basic to advanced charting tools and a high “ease of use” level.

How Is Stock Trading Regulated In The UAE?  

There are two different laws that regulated stock trading in UAE – the UAE federal law and the scheme issued by the DIFC.

The Dubai International Finance Centre (DIFC) and the Abu Dhabi Global Market (ADGM) are the main regulatory bodies who manage the capital markets for all transactions involving the Central Bank of the UAE. The Emirates Securities and Commodities Authority (SCA) is the primary regulator of the capital markets in the UAE. The SCA focuses on investment awareness and transparency and overseas the validity of trading licenses of stock brokers from the UAE. It collaborates with the Dubai Financial Services Authority (DFSA), which oversees all financial activity in the UAE.

How to Get Started With Stocks Trading in UAE?

Step 1: Get Your Own Investor Number (NIN) – UAE investors need to apply for a investor number (NIN) with the Dubai Financial Market (DFM) in order to be able buy stocks in the UAE. The DFM and ADX are not able to approve your trading account without a valid NIN number.

Step 2: Select a Stockbroker – The easiest way to invest in the UAE stock market is through a regulated online brokerage account. Setting up an account is fast and simple and can be done 100% online. We recommend choosing a brokers from our list of top choices on this website.

Step 3: Pick a Stock (fundamental analysis) – Picking a stock is the most important and the most complex of all steps in the investing process. We recommend you to do a fundamental analysis to pick the right stock or start by using copy trading features and pick a stock that professionals are trading. Investors choose from three major asset categories: stocks, mutual funds, and ETFs. These are created to diversify an investor’s trading portfolio.

Step 4: Open a Trade – Once you find your stock of choice you need to open a trade in your brokerage account dashboard. In the pop-up that shows up for buy/sell options you enter how much you want to invest, the direction of the trade, and what risk management settings you want to apply.

Read the full guide on how to buy stocks in UAE

Conclusion 

Based on our evaluation of 2500 data points overall, we consider eToro as the best stock broker in UAE. They offer zero commission stock trading, great selection of stocks, an intuitive trading platform and industry leading social trading features.

If you are an advanced trader looking for full customisation of tools and features you will prefer Interactive Brokers.

FAQ

Which stocks should a beginner buy?

We recommend beginners to buy blue-chip stocks. These represent shares in well-established companies like Amazon and Apple.

Which is the simplest way to purchase stocks?

The most common way to buy stocks is through an reputable online stock broker. After your account is approved, you are allowed to start trading.

Are online stock brokers safe?

Online stock brokers regulated by tier one financial authorities are safe. Online stock brokers in UAE need to be authorised by the SCA or DFSA.

What do I need to check before investing in a stock?

Before you invest in a stock you need to do a fundamental analysis, where you check the companies cash flow, income, balance sheets and performance sheets.

Are online brokers available at any time?

Yes! Online brokers are available 24/7.

How do I deposit money to my trading account?

You can deposit money to your brokerage account using a wire (bank) transfer, or debit and credit cards.

Can I invest in any company?

Yes! You can invest any any company which is listed on a stock exchange.


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. Trading platform, fees, mobile trading, payments, assets, regulation,
education and research are all part of our six-month evaluation of a broker’s account.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.