Best Trading Platforms in UAE for Swing Trading 2023 (UPDATED)

Page Summary

This guide helps users to find the best trading platforms in UAE for swing trading. The increased interest in UAE for achieving financial gains with swing trading and the growing number of online brokers make it difficult to select the ideal option for individual needs.

A proper research and fact comparison of providers can help traders to avoid selecting a platform with high fees, limited number of assets, trading features and customer support.

This guide assesses 80 online brokers in UAE that allow swing trading. To help users make an informed decision and find the ideal option for their trading goals, the best swing trading platforms are listed, reviewed and compared considering dynamic charting, watch-lists, timeframes, chart drawing toolkits, and algorithmic trading options. 

Top 5 Trading Platforms in UAE For Swing Trading

  1. Interactive Brokers – Best for Swing Trading Stocks and ETFs
  2. AVAtrade – Ideal for Forex and CFDs
  3. eToro – Best Trading Platform in UAE for Beginner Swing Traders 2024
  4. TradeStation – Optimal For Swing Trading Options and Futures
  5. IG Trading – Best Swing Trading Platform
  6. Saxo Bank – Best Suited for Professional Swing Traders

Best Brokers in UAE for Swing Trading Reviewed

Brokers with the highest rated trading platforms for swing trading in UAE are reviewed below, including pros, cons and key features.

1. Interactive Brokers – Best for Swing Trading Stocks and ETFs

Interactive Brokers

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 allows swing traders access to stocks and ETFs across 125 global markets which makes them a top choice for swing trading with stocks and ETFs. Its fully customizable Trader Workstation (TWS) features a variety of technical and fundamental analysis tools including Social Sentiment Bars, Economic Calendars and Advanced Market Scanners that help you identify swing trading opportunities. 

The Trader Workstation platform offers access to 100 different order types, including Good-til-Canceled, Good-till-Date and Immediate or Cancel. It also allows importing all sorts of algos to automate swing trading through IBKR’s available APIs. 

Interactive Brokers does not charge any commission on stocks and ETFs. Despite the broker offering many free analytical and market research tools, it does charge for certain add-ons such as PorfolioAnalyst.

Interactive Brokers TWS and GlobalTrader Key Features for Swing Traders:

  • Wide Range of Available Assets – users have access to forex, CFDs, options, futures, commodities, cryptocurrencies, stocks, and ETFs.
  • Excellent Desktop Trading Platform – the TWS platform offers a variety of trading features and tools specifically designed for swing traders.
  • Supports Algorithmic Trading – users can connect Expert Advisors and trading scripts to their account via APIs and deploy over 100 algos to automate trades.
  • Great Mobile Trading Platforms – mirroring the desktop platform features they allow users to trade from anywhere approach.
  • Advanced Analytical and Market Research Tools – users have access to Portfolio Analyst, Risk Navigator, Social Sentiment Bars, Economic Calendars, Arbitrage Meter, and Advanced Market Scanner to conduct in-depth technical and fundamental analysis.

Interactive Brokers requires swing traders to maintain a minimum account balance of $25,000 in order to engage in day trading.

Interactibe Brokers Key Features

Minimum Deposit None
Available Financial Instruments Stocks, Options, Futures, ETFs, Warrants, SSFs, Forex, Metals, Indices, Mutual Funds, Fixed Income products
Trading Fees Commission-free US stocks and ETF trading, Either fixed at $0,85 per contract or tiered from $0,25 to $0,85 per contract, based on monthly trading volume options and futures trading fees, between 0,08 and 0,20 basis points, based on monthly trading volume on forex pairs.
Trading Platform Trader Workstation, IBKR EventTrader, Client Portal, IBKR Mobile, IBKR GlobalTrader, IMPACT
Account Types Individual, Joint, Trust, IRA, UGMA/UTMA Accounts
Type of Broker Market Maker
Regulatory Bodies US SEC and CFTC
Deposit Methods Bank wire transfer, ACH transfer, transfer from another broker, check
Maximum Leverage Ratio 2:1

Pros

  • Great choice of different trading instruments for swing trading
  • Competitive trading fees and commission-free stock and ETF trading
  • Fast order execution and over 100 different order types available

Cons

  • Only has a proprietary trading platform available
  • Charges fees for some market research tools
  • Complex fee structure
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. eToro – Best For Beginner Swing Traders

eToro logo

Rating: 4,9/5

Min Deposit: $200 ($500 for investing accounts)

Fees: Commission-free stocks and ETFs trading, 0,50% stamp duty fees on UK stocks, fixed and variable spreads

Assets available: 17 stocks, 260 ETFs, 74 cryptos, 52 forex pairs, and 2,300+ CFDs

Total Fees: $5 withdrawal fees, USD conversion fees, $10/month inactivity fees after 12 months of inactivity

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’s intuitively designed and beginner-friendly (social) trading platform and its automated and thematic Smart Portfolios make it the ideal broker for beginner swing traders. The broker doesn’t provide advanced charting features, level 2 order book data, custom indicators, or automated trading.

However, its comprehensive watchlist, economic calendar, and basic charting functionalities make it a well-suited trading platform for beginners. 

eToro’s social trading platform allows swing traders to automatically copy the trades of professional swing traders from their own trading accounts. On the other hand, its self-directed trading platform will enable users to day trade, swing trade, scalp, and hedge over 3,000 financial instruments, including stocks, ETFs, commodities, and cryptocurrencies.

eToro supports market and limit orders, stop losses and take profits, but no advanced or conditional orders. Additionally, beginner swing traders can access a free demo account to familiarize themselves with the platform. 

Additionally, all eToro users have access to a broad database of research and analytical tools and educational material, including eToro Plus, Invest & Digest, Smart Portfolios, eToro Money, and the eToro Academy.

eToro also offers Islamic swap-free accounts for swing traders of the Muslim faith.

eToro Key Swing Trading Features:

  • Wide Range of Tradable Assets – Users can access over 3,000 financial instruments at eToro, including ETFs, stocks, commodities, and cryptocurrencies. Alternatively, they can invest in ready-made thematic investment portfolios over the long term.
  • Social Trading Supported – Beginner swing traders can automatically copy the trades and investments of more experienced swing traders and investors.
  • Demo and Islamic Swap-Free Accounts Available – All users can access a freely available demo account or convert their traditional eToro account into an Islamic swap-free account, where they pay no overnight swap fees or other forms of interest (Riba).
  • Beginner-friendly Trading Platform – Despite lacking some features sought-after by advanced swing traders, eToro is known for its beginner-friendly trading platform that almost makes trading and investing look like a game.

eToro Key Features

Minimum Deposit $200 ($500 for long-term Smart Portfolio investing)
Available Financial Instruments Stocks, ETFs, CFDs, commodities, cryptocurrencies 
Trading Fees Commission-free stock and ETF investing, low fixed and variable spreads on CFDs, starting at 1,0 pip on EUR/USD
Trading Platforms eToro, Social Trading
Account Types Standard Account, VIP Account, Demo Account, Swap-Free Islamic Account, Professional Account, Corporate Account
Type of Broker Multi-asset forex and CFD broker
Regulatory Bodies FCA, CySEC, DNB, AMF, DASP, OAM, MFSA, ADGM, FSRA, ASIC, FSAS, FinCEN, MiFID
Deposit Methods eToro Money, credit/debit card, bank transfer, Klarna, Sofort, PayPal, Neteller, Skrill
Maximum Leverage Ratio 30:1 for retail users and 500:1 for professional traders and investors

Pros

  • Access to over 3,000 financial instruments, including stocks, ETFs, CFDs, commodities, and cryptocurrencies
  • Demo and Islamic account availability
  • Long-term and short-term trading and investing opportunities with leverage up to 30:1 or 500:1 for retail or professional traders, respectively

Cons

  • Relatively high non-trading fees compared to other brokers
  • Beginner-friendly and straightforward trading platforms might lack features required by advanced swing traders
  • No third-party trading platforms like MetaTrader 4, 5, or cTrader supported
Open account

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

3. AVAtrade – Best for Forex and CFD Swing Trading

AVAtrade logo

Rating: 4,9/5

Min Deposit: $100

Fees: 4.9

Assets available: 4.9

Total Fees: 0.9 pip

Open account Read review

71% of retail CFD accounts lose money

Offering access to 950 CFDs and 48 forex pairs, low fixed spreads, and up to 400:1 leverage, AVAtrade is a great choice for swing traders looking to trade with forex and CFDs.

AvaTrade list of platforms includes multiple proprietary platforms, third party integrations including MetaTrader (4 and 5) and TradingView extension. Apart from having 90 built-in technical indicators, users can import their own custom indicators for technical analysis and deploy automated trading scripts from MetaEditor or Expert Advisors.

AvaTrade charges low fixed spreads starting at 0,13% on stocks and ETFs and 0,9 pips on forex pairs. 

Swing traders can open an account with AvaTrade from $100 and fund their account by wire transfer, credit/debit cards, or e-wallets such as PayPal, Neteller, and Skrill. Muslim traders that want to swing trade according to Sharia Law can contact AvaTrade’s customer support to convert their regular live account to an Islamic Account.  

AvaTrade Key Swing Trading Features:

  • Wide Variety of Tradable Assets – access to forex CFDs, cryptocurrencies, commodities, indices and vanilla options.
  • MetaTrader and Third-Party Compatibility – full compatibility with MetaTrader (4 and 5) TradingView, DupliTrade, ZuluTrade, and Capitalise.ai.
  • Options Trading Opportunities – access to vanilla options on over 40 forex pairs
  • Feature-Packed WebTrader – it offers multiple order types, dynamic charting, an extensive drawing toolkit and other technical analysis tools for swing traders.
  • Automated Trading – allows automation of swing trading strategies through Expert Advisors, APIs and social trading extensions (AvaSocial, ZuluTrade, Duplitrade)
  • Extensive Research Tools – include a range of technical and fundamental analysis tools such as technical indicators, economic calendars, and trader sentiment bars.

AvaTrade Key Features

Minimum Deposit $100
Available Assets 1,250+
Trading Fees Low, variable spreads starting at 0,9 pips on FX pairs
Trading Platform Web Trader, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade, ZuluTrade, AvaSocial, MacTrading
Account Types Retail, Professional, Standard, Plus, Premier, Invest, Demo
Type of Broker Market Maker
Regulatory Bodies ASIC, BVI, FSA, ADGM, FRSA, CySEC
Deposit Methods Bank wire transfer, credt/debit cards, Apple pay, PayPal, Neteller, Skrill
Maximum Leverage Ratio 400:1

Pros

  • Multiple trading platforms available, including the full MetaTrader suite
  • Offers advanced Strategy Tester and demo account to test scalping strategies
  • Over 1,250 tradable assets with up to 400:1 leverage and deep liquidity

Cons

  • Only forex and CFDs available
  • High forex fees compared to other brokers
  • Charges inactivity fees of $50 per quarter after 3 months of inactivity and $100 administration fee after 12 months of non-use
Open account

71% of retail CFD accounts lose money

4. TradeStation – Best Trading Platform for Swing Trading Options and Futures

Tradestation Global logo

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:

TradeStations FuturesPlus trading platform allows users to visualize, analyze, and create profitable options and futures swing trading strategies and identify profitable entry and exit points. Combined with great market coverage of Options and Futures it is a top choice for options and futures swing traders in UAE.

TradeStation also ofers users the option to monitor market activity with Trade Monitor and send RFQs directly from Strategy Creation. With TradeStation’s $99/month subscription plan, traders can additionally access RadarScreen, Matrix, OptionStationPro, TradeStation Scanner and connect these technical and fundamental analysis tools to any broker of choice. 

TradeStation doesn’t charge commissions on futures and options trades up to $10,000 per trade and offers commission-free stock and ETF trading. This is great for swing traders looking to open large positions on equities.

The minimum deposit at Tradestation to open a live trading account is $5,000. AED deposits get automatically converted to USD.

TradeStation Key Swing Trading Features:

  • Great Choice of Trading Instruments – users can trade on a variety of stocks, ETFs, options, futures, futures options, crypto, IPOs, mutual funds, and bonds.
  • Competitive Trading Fees – TradeStation offers commission-free stock, ETF and stock options. They charge a low fee of $1,50 per contract/per side on futures and futures options.
  • Professional Grade Proprietary Platform – offers access to real-time market data, advanced order management, fast and reliable trade execution, fully customizable charting, dynamic market-scanning tools, and tools to design, test, optimize, monitor, and automate swing trading strategies.
  • Trade Ideas –  TradeStation’s Strategy Performance Report provides swing traders with useful trade ideas based on their own strategies.
  • Algorithmic Trading – allows users to automate trades with through APIs, Expert Advisors, trading scripts, and other types of automated software.
TradeStation Key Features
Minimum Deposit $5,000 for futures accounts, $2,000 for margin accounts
Available Futures and Options 350+
Trading Fees Commission-free, $1,50 per contract, per side when TradeStation Select member
Trading Platform Web-based platform & mobile app (FuturesPlus)
Account Types Demo, individual, joint, retirement, entity
Type of Broker Broker dealer
Regulatory Bodies SEC, CFTC, and FINRA
Deposit Methods Wire transfer
Maximum Leverage Ratio 4:1

Pros

  • Dedicated options and futures trading platform, ideal for swing traders
  • Commission-less stock and ETF trading and low, fixed trading fees on other asset classes
  • Great range of technical and fundamental analysis tools

Cons

  • Not compatible with MetaTrader 4/5, cTrader, or any other external trading platform or software
  • High Minimum deposit required
  • No Islamic accounts available

5. IG Trading – Best Choice of Trading Platforms for Swing Traders

IG Trading logo

Rating: 4,2/5

Min Deposit: $5500

Fees: 3.7

Assets available: 4.5

Total Fees:

Open account Read review

75% of retail CFD accounts lose money

IG Trading’s list of platforms include a set of proprietary platforms (desktop, web and mobile), the full MetaTrader suite (MT4 and MT5) and ProRealTime or L2 Dealer extensions. This makes IG’s set of trading platforms and features a great fit for swing traders at all levels.

The L2 Dealer extension allows swing traders direct market access to trade share or forex CFDs straight through the order books of international exchanges. ProRealTime is an additional feature that provides swing traders access to leading charting features, automated CFD trading, and the possibility to build algorithms using assisted creation tools.

All IG’s trading platforms support advanced order types such as trailing stops and allow swing traders to backtest their trading strategies using 30 years of historical price data. The broker also provides users with extensive fundamental analysis tools and trade ideas via its economic calendars, daily blog, and premium insights provided by in-house market analysts.

IG doesn’t offer Islamic, swap-free trading accounts.

IG  Key Swing Trading Features:

  • Broad Range of Tradable Assets – access to a variety of forex, CFDs, stocks, ETFs, and cryptocurrencies.
  • Multiple Trading Platforms – proprietary  (desktop, WebTrader and mobile app), MetaTrader 4, ProRealTime and L2 Dealer.
  • Identify Chart Patterns Automatically – IG’s AutoChartist uses technical indicators such as Fibonacci retracements to monitor the markets 24/7 and warns users of favorable trading opportunities in real-time.
  • Premium Trading Signals – offers users ‘buy’ and ‘sell’ suggestions based on technical or fundamental analysis tailored to their personal trading strategies.

IG Key Features

Minimum Deposit $300
Available Assets 18,000+ stocks (including extended hours), indices, commodities, forex, cryptocurrencies, bonds, rates, and options
Trading Fees Commission-less stock trading, spreads from 0,6 pips on major FX pairs, 0,8 pips on major indices, and 0,1 pips on commodities.
Trading Platform IG Markets, DMA Trading, MetaTrader 4, L2 Dealer, Mobile Trading Apps
Account Types IG Markets Demo, Standard, Limited Risk, Spread Betting, Options, Turbo24, Share Dealing, Professional, and Select accounts
Type of Broker DMA (Direct Market Access)
Regulatory Bodies DFSA, FCA, BaFIN, MiFID, FINMA, CySEC, ASIC, FSCA, MAS, MJFSA, FMA, CFTC, FINRA, SIPC, and NFA
Deposit Methods Bank wire transfer, credit/debit card
Maximum Leverage Ratio 50:1

Pros

  • Broad range of trading instruments for swing trading
  • Great technical and fundamental analysis tools
  • Premium trading signals and insights available

Cons

  • Higher trading fees on stock CFDs compared to other brokers
  • Trading platforms might be overwhelming for beginners
  • No Islamic accounts available
Open account

75% of retail CFD accounts lose money

6. Saxo Bank – Best for Professional Swing Traders

Saxo

Rating: 4,9/5

Min Deposit: $5000

Fees: 4.7

Assets available: 4.9

Total Fees:

Open account Read review

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

Saxo Bank is the best broker for professional swing traders because it allows access to professional grade fundamental and technical analysis tools, an extensive charting package, a professional options chain, and extensive customization options.

Saxo Bank also offers vast market coverage across different asset classes including stocks, ETFs, bonds, mutual funds, options and futures. 

SaxoTraderPro allows advanced swing traders to automate their trades by using Saxo’s fix and open APIs or by connecting third-party Expert Advisors, scripts, or Excel. 

The minimum deposit to open a live trading account at Saxo Bank is $2,000. Islamic traders can open an Islamic swap-free account that allows them to trade halal and Islamic-compliant stocks researched by IdealRatings.

Saxo Bank Key Swing Trading Features:

  • Vast Range of Available Assets – access to stocks, ETFs, forex, CFDs, futures, and options
  • Beginner and Professional Grade Platforms and Features – SaxoTraderGo and SaxoTraderPro cover trading needs for beginner to advanced traders.
  • Professional Insights – users have access to market insights from in-house trading experts on market trends and price movements.
  • Advanced Algorithmic Trading – Saxo’s FIX and OpenAPIs allow users to swing trade on auto-pilot via Excel, or by using third-party Expert Advisors, trading scripts, and other automated trading software.

Saxo Bank Key Features

Minimum Deposit $2,000
Available Assets 3,000+ listed options, bonds from 26 countries in 21 currencies, 6,400+ ETFs, 300+ futures, thousands of mutual funds and equities
Trading Fees Commission-free stocks and mutual funds, 0,05% on government bonds, $1 on US listed ETFs, $1,25 per options and futures contract
Trading Platform SaxoTraderGO, SaxoTraderPRO
Account Types Saxo Account, Joint Account, Corporate Account, Professional Account
Type of Broker ECN/Direct Market Access that may act as market maker
Regulatory Bodies FSA, FCA, MAS, FINMA, AMF, ACPR, FSMA, ASIC, DFSA, CySEC
Deposit Methods Bank wire transfer, stock transfer from other broker, debit card
Maximum Leverage Ratio 50:1

Pros

  • Over 40,000+ tradable assets
  • Great choice of different trading instruments for swing trading
  • One trading platfom is easy to use for the less experienced trader while the other one is very perofessional with many advanced trading tools

Cons

  • Not suitable for beginners
  • Charges commissions on ETFs
  • High inactivity fees and minimum deposit
Open account

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

Tips To Find The Optimal Broker and Platform for Swing Trading in the UAE

Criteria that need to be considered to select an online broker with the ideal platform for swing trading in UAE are listed below.

  • Availability of different assets for swing trading 

Availability of Assets Of Top Choices compared

Availability of different assets of the top brokers for swing trading is compared in the table below.

Broker IBKR Ava Trade TradeStation IG Trading Saxo Bank
Stocks 87000 15000 2000 22000
ETFs 13000 430 1000 6700
Cryptos 4 10 8
Options 34 markets 44 10 markets 20 markets
Futures 32 markets 11 markets 28 markets
Forex 105 59 205 190
CFDs 7100+ 150+ 12000+ 8900+
  • Fees – besides trading fees we took a look at trading conditions 

Fees of The Top Choices Compared

Fees of the top brokers for swing trading are compared in the table below.

Commision US Shares From $0 From $0 From $0.02 per share From $0.01 per share
Commision Futures From $0.25 per contract $1.5 per contract $1.5 per contract
Commision Options From $0.15 per contract $0.6 per contract $0.6 per contract
Commision Forex $2,00 $1,20
Spread Forex From 1 From 6 From 6 From 6
  • Dynamic charting and drawing tools – availability of drawing tools and dynamic charting for easy technical analysis. 

Charting and drawing tools of top choices compared

Availability of charting and drawing tools of top brokers is compared in the table below.

Advanced Charting Yes Yes Yes Yes Yes
Market Depth/ Level 2 Yes No Yes Yes Yes
Watchlist Yes Yes Yes Yes Yes
Custom Indicators Import Yes Yes Yes Yes Yes
Automaterd Trading Yes Yes Yes Yes Yes

 

  • Wide variety of platform features – availability of watchlists, multiple timeframes, custom indicator Import features, extensive trading, and order history.

Platforms and features of top choices compared

Trading platforms and features of top brokers are compared in the table below.

Trading Platform IBKR Global Trader, Client Portal, IBKR Mobile, TraderWorkstartion, IBRR EventTrader, Impact MT4, MT5, WebTrader, AVAGo, AVAOptions TradeStation, TS Futures Options, TS Crypto MT4, ProRealTime, L2 Dealer, IG Trader SaxoTrader Go, SaxoTrader Pro, TradingView, MultiCharts, UpData
  • Algorithmic trading support – availability of algorithmic trading through Expert Advisors, APIs, scripts, and automated trading software. 
  • Customer support – availability of support in English and Arabic 24/7 

Customer service of top choices compared

Customer service features of top rated brokers are compared in the table below.

 

Customer Support Email, Phone, Chat Email, Phone, Chat Email, Phone, Chat Email, Phone, Chat Email, Phone, Chat

Top Broker For Swing Trading Compared

Key features of the best ranked platforms for swing trading in UAE are compared in the table below.

BrokerIBKRAva TradeTradeStationIG TradingSaxo Bank
Stocks8700015000200022000
ETFs1300043010006700
Cryptos4108
Options34 markets4410 markets20 markets
Futures32 markets11 markets28 markets
Forex10559205190
CFDs7100+150+12000+8900+
Fees  
Commision US SharesFrom $0From $0From $0.02 per shareFrom $0.01 per share
Commision FuturesFrom $0.25 per contract$1.5 per contract$1.5 per contract
Commision OptionsFrom $0.15 per contract$0.6 per contract$0.6 per contract
Commision Forex$2,00$1,20
Trading PlatformIBKR Global Trader, Client Portal, IBKR Mobile, TraderWorkstartion, IBRR EventTrader, ImpactMT4, MT5, WebTrader, AVAGo, AVAOptionsTradeStation, TS Futures Options, TS CryptoMT4, ProRealTime, L2 Dealer, IG TraderSaxoTrader Go, SaxoTrader Pro, TradingView, MultiCharts, UpData

What is Swing Trading?

Swing trading is a trading technique that profits from short to medium-term price swings, typically several days or weeks. Swing traders use technical and fundamental analysis to find favorable entry and exit points for their long and short positions.

Swing traders determine their trades based on a risk/reward basis and use risk management tools like stop-losses to reduce their potential losses and take-profits to lock in their profits. Swing traders often use the 1-hour and 15-minute charts but can also use other charts to track their open positions.

Pros

  • Less time-consuming than day trading
  • Profit from short and medium-term market price swings
  • Swing traders can use technical and fundamental analysis to find opportunities

Cons

  • Overnight fees and weekend market risk
  • Sudden reversals can cause big losses
  • Swing traders usually miss long-term trends because of short-term price movements

Swing Trading Strategies Allowed in UAE

Below are the most common swing trading strategies allowed in the UAE:

  • Trend Catching Strategy – traders hold their position until the trend changes due to a reversal, pullback, or breakout. The goal of swing traders with this strategy is to identify the trend and favorable entry and exit points.
  • Fading Trading Strategy – requires swing traders to trade against momentum (counter-trend). The goal of this strategy is to profit from price corrections by predicting reversals. This strategy is suited for institutional traders as it requires a lot of skill and involves significant risk.
  • Breakout Swing Strategy – requires swing traders to look for price breakouts and open long positions at the beginning of an uptrend. By “riding the wave” of the trend, these swing traders try to make as much profit as possible. 
  • Breakdown Swing Strategy – requires swing traders to trade breakouts above and below support and resistance levels at the beginning of an up or downtrend. This strategy is well-suited for traders that have experience in trading a certain asset and know its price movements.

Apart from these swing trading strategies, swing traders scan the charts of multi-day patterns such as head and shoulder patterns, flags, and triangles. After recognizing a certain pattern, the swing trader sets up a plan and strategy with a favorable risk/reward ratio. 

What Is The Difference Between Swing Trading and Day Trading?

The main difference between swing trading and day trading is that swing traders keep positions open for longer. Day traders close their positions at the end of each trading day, whilst swing traders trade intraday and keep positions open for multiple days or weeks. 

Swing traders pay more trading fees because they pay overnight fees and take weekend market risk but generally take a smaller risk because they open smaller trades than day traders. Swing traders typically use 2:1 leverage, whilst day traders use 4:1 to 6:1 leverage. 

Swing Trading Indicators

Swing trading indicators are technical analysis tools that help swing traders spot favorable entry and exit points and show where the current trend is heading. Here are the 5 best swing trading indicators for UAE traders:

  • Moving Averages – Moving averages or MAs measure the price movements of an asset over a certain period. The 5-, 50-, 100,-, and 200-daily moving averages confirm trends over a longer timeframe and help swing traders spot momentum.
  • Stochastic Oscillator – is a momentum indicator that compares the closing price of an asset to its price range over a certain timeframe. The stochastic oscillator is shown on a chart with a value of between 0 and 100. 
  • Volume – Volume shows the strength of a price trend. The higher the volume, the stronger the trend. Swing traders use volume indicators to sport breakouts.
  • Ease of Movement – or EOM shows how volume relates to price action. By checking this indicator, swing traders can identify whether market movement is being driven by low trade volume. 
  • Relative Strength Index – shows whether an asset is overbought or oversold and whether a price swing can be expected soon. The RSI measures the number and size of an asset’s positive and negative closing prices over a certain period and is represented by an oscillator on a 0 to 100 chart. 

Conclusion

The various online brokers in UAE offering different platforms and features make finding the ideal choice for individual needs hard. Reviewing and evaluating the services of different providers requires time and knowledge.

This guide does the hassle by evaluating top platforms for different trading personalities and goals. The results of our analysis and comparison of the best swing trading platforms in UAE are wrapped up in the table below.

RANKBROKERPLATFORM SCOREBEST FORWEBSITE
#1Interactive Brokers4,9/5Swing Trading Stocks and ETFsOfficial website
#2AVAtrade4,9/5Forex and CFD Swing TradingOfficial website
#3eToro4,8/5Best For Beginner Swing Traders Official website
#4TradeStation4,9/5Swing Trading Options and FuturesOfficial website
#5IG Trading4,2/5Trading Platforms for Swing TradersOfficial website
#6Saxo Bank4,9/5Professional Swing TradersOfficial website

FAQ

Is Swing Trading Good For Beginners?

Swing trading is a commonly used trading strategy by beginners as it is less time consuming and doesn’t require the trader to actively conduct technical analysis.

Is Swing Trading Illegal in UAE?

Swing trading is legal in the United Arab Emirates and regulated brokers allow users to apply this trading strategy.

Is Swing Trading Halal?

Yes, swing trading is halal as long as you use an Islamic brokerage account and don’t trade haram stocks or other assets.

Which Assets Can Be used For Swing Trading?

The most commonly used assets for swing trading are large-cap stocks because they have the best liquidity.

What are the most important trading tools for swing traders?

Trading platforms for swing trading should have comprehensive charting and analytical tools, real-time market data, and risk management tools (take profit and stop loss).

What are the most important criteria when selecting a trading platform for swing trading?

The most important criteria to consider when choosing a platform for swing trading include low fees and spreads, fast trade execution, extensive charting and analytical and risk management tools.

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.

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