Best Trading Platforms in the UAE (compared in 2023)

Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker that has survived several financial crises, demonstrating a resilience and proven risk management framework.

Interactive Brokers offers an advanced investment platform that includes a wide range of products from over 150 markets, solid trade execution (IB SmartRouting), and technical and fundamental tools to help you make investment decisions. It now even accepts UAE dirhams (AED)!

Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.

On the downside, Interactive Brokers’ fee structure is complex, the registration process is lengthy (but online), and the broker does not offer commission-free trading in the UAE. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.

Interactive Brokers also launched IBKR GlobalTrader, a modern mobile app for stocks, options, and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, a demo account, and more.

Want to know more about Interactive Brokers? Check our Interactive Brokers Review.

Founded in 2006, eToro is a well-known, worldwide fintech startup and the leader in social trading (following other people’s trades), with over 30 million users globally. You can also invest in products like stocks and ETFs through their intuitive platform, but also CFDs and cryptocurrencies, making it ideal for those who want to learn the art and science of trading. They offer commission-free stock and ETF trading for most names (other fees apply).

Opening an account and depositing is easy, and you can even try it out with virtual money. On the downside, spreads can be high for some products. The only currency accepted is the USD, which means that you’ll be charged currency conversion fees upon deposit and withdrawal if you deposit in another currency.

eToro does offer an Islamic (swap- and interest-free) account to all who contact customer service and fund their accounts to at least 1,000 USD. Want to know more about eToro? Check eToro’s website and read our review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 take the high risk of losing your money.

Founded in 2002, XTB is a major player in the brokerage industry with extensive worldwide experience, regulated by the Financial Conduct Authority (FCA) – plus other relevant regulatory bodies – and listed on the Warsaw Stock Exchange.

You can invest through xStation 5 and xStation Mobile in different investment products, such as stocks, ETFs, and CFDs on stocks, Forex, indices, commodities, and cryptocurrencies (this product offering may vary slightly from country to country). It offers 0% commission on stocks and ETFs.

XTB also has offices in the United Arab Emirates through the entity XTB MENA Limited, which has a license from the DFSA (Dubai Financial Services Authority) to operate in the region.

XTB does offer Islamic (swap-free) accounts for residents of UAE.

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including stocks and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.

There is only one account type: Plus500 CFD, which, as the name implies, only offers CFD products. In other countries, Plus500 also lets its users trade stocks through Plus500 Invest. However, it is still not available for UAE investors.

The web platform you will use is WebTrader, Plus500’s proprietary platform, offering a stable trading experience and reliable access from multiple devices, including a mobile app. All platforms are accessible and responsive, and you can start testing the features by opening a demo account.

Their spreads are low, offering accounts in sixteen currencies, including USD, AED, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity.

Saxo Bank is a distinguished multi-asset broker renowned for its exceptional trading platform experience and extensive range of over 72,000 tradable instruments. It was founded in 1992 and offers a comprehensive suite of advanced trading tools, in-depth research capabilities, and premium features.

Saxo Bank lets you open an account in a wide range of currencies, including USD, EUR, GBP, AED, and several other major currencies. They have three account types (Classic, Platinum, and VIP), each with its own features and services.

Sarwa is a Dubai-based investment company that offers 4 main services/products:

• Sarwa Save: A savings account to earn interested on your cash;
• Sarwa Trade: A trading account that allows you to trade US-listed stocks and ETFs on your own;
• Sarwa Invest: A robo-advisory solution that allows you to create and manage ETF portfolios automatically
• Sarwa Crypto: An account that allows you to trade cryptocurrencies

The platform is acclaimed for its low fees, accessibility, transparency, and the promo code bonus. It is a great option for beginners or those looking for a local solution.

Their flagship product, Sarwa Invest, creates tailored portfolios using affordable index funds (ETFs), and charging an annual management fee between 0.5% and 0.8%, dependent on the portfolio size, in addition to a 0.1% underlying portfolio expense. Investors can further customize their Sarwa Invest experience by opting for Conventional, Halal, Socially Responsible Investing (SRI), or Crypto plans and can select from six distinct risk levels within each.

Sarwa Save is designed for those seeking a safer cash management option, promising a 3% projected return without imposing minimum balances or management fees. An alternative Halal version does charge a 0.5% management fee. Sarwa Crypto caters to cryptocurrency enthusiasts, allowing trades without commissions but applying a 0.75% spread, and supports various order types. For those focused on stocks and ETFs, Sarwa Trade offers trading exclusively on US stocks and ETFs with features like fractional shares, though it doesn’t support margin trading.

Moreover, Sarwa offers personalized financial consultations with their licensed experts. Transactions via local UAE banks are free of funding or withdrawal charges, and the platform adheres to fixed exchange rates for AED-USD conversions.

On the downside, it lacks important assets like bonds, options, or shares listed outside the USA. It is also a newcomer in the industry, with short track record when compared with some of the names mentioned here.