Best Trading Platform In Yemen 2022

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Are you looking for the best trading platform in Yemen?

We leverage our database of 105 online brokers in 9 categories to find the Best Trading Platform in Yemen. The categories we use are: platforms, assets, fees, customer support, mobile trading apps, research & education, regulation, deposits & withdrawals, and Islamic account availability.

With 214 variables and 3500 data points, we show you the Best Trading Platform in Yemen.

The Top 5 Online Brokers Of 2022 For Yemeni Citizens 

Our analysis uses a Trust Score Ranking system. The leading brokerage firms in Yemen are: 

  • Interactive Broker is best overall broker
  • Saxo Bank ​is best for premium traders
  • AVAtrade is the best broker for beginner traders
  • Swissquote has the best beginner-friendly platform with a variety of tradable assets
  • Capital.com is top choice for traders looking for a discount broker

Best Online Brokers Yemen 2022

RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1Interactive BrokersLow fees4.9 / 5Best overall brokerOfficial website
#2Saxo BankDifferent assets4.9 / 5Best for premium tradersOfficial website
#3AVAtradeLow spreads4.8 / 5For beginner tradersOfficial website
#4SwissquoteEasy to use4 / 5Variety of tradable assetsOfficial website
#5Capital.comNew age mobile trading app4.7 / 5Discount brokerOfficial website

TOP 5 Trading Platforms in Overview:

01. Interactive Brokers: Best overall offer

interactive-brokers-rating

Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.

Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).

Pros:

  • 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 features:

  • Margin loan rates on stocks of 1.3%
  • Access to 135+ global markets
  • Advanced order types, tools and features
  • Access to frictional shares
  • Lowest commissions in the industry

02. Saxo Bank: Best For Premium Trades And CFD Trading

saxo-bank-rating

Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.

If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.

Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.

Pros:

  • Industry leading market coverage
  • Excellent Trading Features with 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
  • High time investment to set up
  • Only for advanced traders

Key features:

  • 40.000 tradable symbols available (crypto derivatives, forex options and futures)
  • Advanced account protection and order types
  • Fast execution of trades
  • $2.000 minimum deposit
  • “Best in class” educational resources
  • Great ease of use level combined with advanced features

03. AVA Trade: Best web trading platform

avatrade-rating

AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.

Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.

Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100. 

Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or commodities with premium services.

Pros:

  • Great Research and Educational tools
  • Great Customer support
  • Good choice of social trading options

Cons:

  • Comparing others relatively few trading instruments are offered;  offers Forex, CFDs and Binary Options

Key features:

  • Access to 1250 CFDs and 44 forex options
  • Excellent copy trading features
  • Advanced mobile trading app (AvaOptions)
  • Industry average pricing
  • Perfect for casual and advanced traders
  • Access to the full meta trader suite

04. Swissquote: The Best Beginner-friendly Platform

swiss-quote-rating

Swissquote is a low risk forex and CFD online broker, regulated by 4 top-tier financial regulators. It is a great choice for traders who are looking for high quality research, daily market updates, a great variety of tradable assets and account security on a Swiss bank.

Their Advance Trader proprietary trading platform suite is available as desktop, web and mobile version. Together with the MetaTrader platform suite, it delivers an excellent trading experience for traders and investors at all levels. Minimum deposit is $1000 and trading fees are above industry average. Swissquote operates a bank.

Choose Swissquote if you are looking to trade physical cryptos with a highly trusted online broker that also offers great banking services.

Pros:

  • Great choice of trading instruments offered
  • Very good research and education 
  • Great For Mobile Trading

Cons:

  • Few deposit and withdrawal option

Key features:

  • Access to over 3,000,000 financial instruments
  • Cash dividends paid out monthly into your account
  • Trade with a FINMA-regulated and Swiss stock exchange-listed broker (SIX:SQN)
  • Receive the Swissquote magazine monthly for free
  • Set up your own algorithmic trading bot with Swissquote Robo-Advisory services
  • Low, fixed fees capped at 0,75% of your invested amount

05. Capital.com: Top choice for traders looking for a discount broker

capital-com-rating

Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.

Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.

Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.

Pros:

  • Newsroom grade educational videos and analysis
  • Award winning education and research section
  • New age mobile trading app
  • Real time market updates and price alerts
  • Hedging and risk management tools

Cons:

  • MT4 and MT5 not available
  • Market access is industry average

Key features:

  • Access to 6.000 tradable symbols and 477 cryptocurrency CFDs
  • High quality research and educational content
  • Patented AI trade bias system
  • $20 minimum deposit
  • No inactivity fees

How We Choose The Top International Trading Platforms For Yemen Residents? 

We find the Best Trading Platform in Yemen with data from 105 online brokers across 9 different categories. Here are the categories: platforms, costs, regulation, mobile apps, withdrawal & deposit, copy trading, customer support, and Islamic account availability.

Brokers are more than a trading platform and should include research and educational material with an account. Make sure your broker delivers the information you need.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
Educational ResourcesYesYesYesYesYesYesYes
WebinarsYesNoYesYesYesYesYes
Daily News UpdatesYesNoYesYesYesNoYes
Personal Training and Room AccessYesNoYesYesNoYesNo
Market In-depth AnalysisYesNoYesYesYesNoYes
Market ResearchYesYesYesYesYesNoYes
Trading SignalsYesNoYesYesYesNoYes

Any broker you consider should have a range of tradable assets, like ETFs, stocks, futures, forex, mutual funds, bonds, commodities, indices, and cryptos.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
Shares001000280003000016500
ETF and Funds00000590035000
Crypto00030094
Commodities0000001
Indices0000003052
Options10000300050000
Futures00000300245
Bonds2000042001000000
Forex59331384991200115
CFD Stocks100194360028009500190008000
CFD Commodities153335422502
CFD Crypto141920732800

Brokers have dedicated trading platforms, and also offer MT4 and MT5. You need to understand the platform before you start trading, and all the features it has.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
Generic PlatformsYesNoYesNoYesNoNo
Proprietary PlatformYesYesYesYesYesYesYes
Desktop versionYesTrader Workstation, Client Portal YesYesYesNoYes
Web versionYesYes (Trader Workstation)YesNoYesYesYes
Mobile AppYesNoNoNoNoYesYes
MetaTrader4YesNoNoNoNoNoNo
MetaTrader5YesNoNoNoNoYesNo
cTraderYesNoNoNoNoYesNo
Other GenericYesNoYesNoNoNoNo

Trading fees add up, and some brokers offer 0% trading fees. When you choose a broker, look at the fees, and if you are a frequent trader, keep the fees low.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
Deposit Fee0000000
Withdrawal Fee000$5000
Inactivity Fee$50 quaterly after 3 monthsYesNo$10 monthly after 1 year$15 per month (after 12 months)$100 – 6months0
Overnight FeeYesYesYesYes2.5%YesYes on CFD’s
Cost Per Trade0000000
Cost Per Month0€1000000
Stock and ETFs00.48 pipsVaries 00+spread$1$0.005 per share
FOREX (EURUSD)0.9 pips4.7 pips2.4 pips1.1 pips0.8 pips 10.2 pips + 0.08 to 0.20 bps times trade size comission
Crypto0.35%127.14 pips00000.12% to 0.18% of trade value
CFD (gold)3.4 pips4.8 pips8.9 pips 5 pips 0.8 pips 0.6 pip0.02%

Deposits and withdrawals should be free, so look and make sure your broker has a fee structure that works for your deposit and withdrawal preference.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
Minimum in UAE$100$50 $20$200$100$20000 ($2000 for margin account)
Bank WireYesYesYesYesYesYesYes
CashNoNoNoNoNoNoNo
Credit/Debit CardYes$50 YesYesYesYesNo
CheckNoNoNoNoNoNoYes from a US bank account
Islamic Account TransferYesNoNoYesYesNoNo
E-PaymenstYesYesYesYesNoNoNo
PaypalNoYesYesYesNoNoNo
SkrillYesYesNoYesNoNoNo
NetellerYesYesNoYesNoNoNo

Social and copy trading gets you into the market fast. Social and copy trading are available with major brokers.

You need a broker with 24/7 customer support in a language you understand. Choose a broker that speaks your language, and has contact options that work for you.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
EmailYesYesYesYesYesYesYes
PhoneYesYesYesYesYesYesYes
Live ChatYesYesYesYesYesYesYes
24/7 supportYesYesYesYesNoYesNo
MultilingualYesYesYesYesYesYesYes
Personal Account managerNoNoYesYesYesYesYes

Only choose brokers regulated by the FCA, CySEC, and ASIC. Don’t bother with brokers that aren’t compliant with regulations in a top-tier market.

FeatureAVAtradeIQ OptionCapital.comeToroForex.comSaxo Bank Interactive Brokers
RegulatorsASIC, FSA, FSCA, CBI FFAJ, ADGMCySEC, FCA, Consob, CNMV, Regafi, AFM, FSA, CNBFCA, NBRB, ASIC, CySECASIC, CySEC, FCA, FSCSIIROC, SFC, CySEC, FSA, NFA, FTC, MAS, CIMA, ASIC, FCAASIC, SFC, JFSA, MAS, Finma, FCANYSE, FINRA, SIPC

Mobile trading keeps you in the markets from anywhere your mobile device works. Every broker offers different mobile trading features, so make sure you understand your broker’s mobile platform.

FeatureAVAtradeIQ OptioCapital.comeToroForex.comSaxo BankInteractive Brokers
AndroidYesYesYesYesYesYesYes
AppleYesYesYesYesYesYesYes
Watchlist (mobile)YesNoYesYesYesYesYes
Economic Calendar (mobile)NoYesYesNoYesYesYes
Charting Tools (mobile)YesYesYesNoYesYesYes

*Islamic Accounts: The Best Trading Platforms in Yemen offer accounts compliant with Sharia law. You can choose a broker that has interest-free accounts. 

Which is the best Mobile Trading App in Yemen?

Our research shows Interactive Brokers, eToro, Capital.com, Saxo Bank, and AVAtrade have the best mobile trading apps in Yemen. All the apps work on iOS and Android, and some brokers offer free education apps.  

Here is why you should use these mobile trading platforms:

  • AVAtrade
    has AvaTradeGo for mobile trading, and also mobile MT4 and MT5. AvaTradeGo’s design takes its theme from the desktop version, AVAtrade’s clients can trade with AvaTradeGo, or the mobile version of MT4 and MT5. 
  • Interactive Brokers
    has IMPACT for stock and crypto trading, as well as IBKR for other assets IBKR offers a wide range of assets, like future, options, and more, but it isn’t built for new traders. If you need a simple platform, IBKR isn’t the right choice. 
  • eToro
    supports the eToro app for trading, and the eToro Money for money transfers and crypto trading. The eToro trading app offers all the basic features from the desktop platform, like advanced orders, charts, and real-time market data. 
  • Capital.com
    has its own trading app that includes the Investmate education app. Clients can also use the mobile version of MT4 with Capital.com, and still take advantage of Investmate. All the apps from Capital.com work with iOS and Android. 
  • Saxo Bank
    builds SaxoTraderGO for mobile trading, and it also has the mobile version of MT4 for its clients. The features available on SaxoTraderGO are identical to the desktop. Traders can use charts, advanced market data,  and limit orders with SaxoTraderGO.

Online trading in Yemen

An offshore brokerage account gives you access to global financial assets, like stocks, CFDs, bonds, ETFs, forex, commodities, and mutual funds. 

The Central Bank of Yemen regulates financial markets in Yemen, but the best brokers available to traders in Yemen are offshore. 

There are no restrictions on using offshore brokers in Yemen, as long as the activities are legal and not used for prohibited activities. 

You can contact the Central Bank of Yemen to check on the registration status of any broker you like, or contact the regulator in the nation where the broker registers its operations. 

How to Open a Brokerage Account in Yemen?

Opening a brokerage account in Yemen is fast, and you will need a bank account, legal ID like a driver’s license or passport, and proof of your legal address. 

STEP ONE: Find the right broker and look for its minimum deposit, then open the account online. If you need a Sharia compliant account, make sure you open an interest-free account. 

STEP TWO: After you sign up for the brokerage account, you need KYC documents, like your proof of residence. Once you submit the documents and get approval, you can fund the account. 

Review the broker’s funding methods, and look for cost effective options. All brokers accept wire transfers, but online platforms like PayPal are cheaper. 

STEP THREE: Send money to your trading account, choose the trading platform you like, and start investing.  

The brokers we review offer educational resources and demo accounts. If you don’t have any experience trading, use the demo account and learn the tools. 

Points to consider before you get started

If you aren’t an experienced investor, there are a few things to think about before opening an offshore brokerage account. 

Here are a few things to consider:

  • How to Invest
    When you trade and invest, think about your goals before choosing a brokerage account. Traders and investors need different things from a broker. For example, a trader needs to buy and sell assets daily, while a long term investor won’t sell assets frequently. The brokerage account you choose needs to align with your investment style. 
  • What Assets Work 
    The brokers we review offer tens of thousands of assets, and you need to understand how they fit into your investment strategy. For example, both traders and investors can use the S&P 500, which is a proxy for the global economy, as an investment asset. However, a trader would look for a broker that offers derivatives, like CFDs, or futures, but a long term investor needs a broker that has low-cost ETFs. 
  • Trading the Markets 
    Traders need to look for a broker that allows fast trades, and allows automated trading tools. There are rules in the US prohibiting day trading for accounts under $25,000 USD, so if you want to day trade, and don’t have that amount, you need a broker that sells futures and CFDs on stocks. Also look for a broker that allows automated trading tools, and has a fast API.

Final Verdict 

After reviewing 105 online brokers in 9 categories, we find Interactive Brokers as the Best Trading Platform in Yemen. Interactive Brokers has professional trading tools, many tradable assets, and attentive customer support. Investors can buy ETFs, stocks, mutual funds, options, futures, commodities and more with Interactive Brokers.

FAQ 

Is Online Trading Allowed in Yemen?

Yemen allows online trading, and investors can use brokers that offer global assets like stocks, CFDs, cryptos, ETFs, commodities, and forex. 

Where Are Offshore Brokers Based?

Investors in Yemen can use offshore brokers based in regulated markets, like the UK, USA, or Australia. 

What is the Best Trading Platform in Yemen? 

Our research says that Interactive Brokers is the best broker for investors in Yemen.

Is Online Trading Permitted by Sharia Law? 

The brokers we recommend have interest-free accounts that are compliant with Sharia law. 


Our Methodology

We took the time to analyze and compare the top 30 international trading platforms. So, each firm received its review based on 105 distinct variables and more than 50,000 words of research.

Keep in mind that broker involvement was optional. Each broker had the option to provide a detailed profile and offer adequate time for a yearly update meeting. This opportunity came with two possibilities: giving information over the web or live in person.

We checked all the information provided by brokers with a lot of attention to details. Our purpose was to offer you access to reliable, accurate, and well-researched data. Our validation process comes with less than a 1% error rate per year, as all the reviews we share come with a focus on quality and not quantity.

Disclosure

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.

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