23.4.26
TOP BROKERS
BEST TRADING APPS IN THE UAE
You probably went to Google searching for the best online brokers in the UAE. You are interested in and wish to trade a particular asset class, such as Forex, International Stocks, or Cryptos, or maybe a specific asset, like Apple Stocks, Oil instruments, or the latest DeFi Cryptocurrency.
Although you already know the asset or asset class you want to trade, Google isn't inside your mind (yet). So, it brought you here, and Google couldn't figure out whether you wished to trade Forex or US stocks or buy investment fund units.
This article is long but has the basics of what you need to know about the best investment and trading platforms. So, let's talk about the UAE's top online trading apps, divided by asset class.
Top Brokers
Top Forex Brokers in UAE
Forex Online Brokers focus, in particular, on the Middle East. The industry has developed rapidly over the past years thanks to growing investor appetite from the local client base (Led by Dubai's Financial services industry). According to Bloomberg.com, the most popular Forex currency pairings are EURUSD, GBPUSD, XAUUSD, EURJPY, and XAGUSD, which align with global trading demand.
As a result of this growth, Saudi Arabia and Kuwait moved to stifle speculation against the Riyal and Dinar in the forwards market, as the FX market was causing liquidity issues for the local currencies.
The list we propose here does not include online brokers offering FX pairs with foreign currencies pegged to the Dirham. Instead, it allows you to trade the global major and minor pairs.
An important point to emphasise regards Shariah-compliant forex trading, which are swap-free accounts (Shariah-compliant). Recently, more and more online brokers increased the availability of Islamic trading products. If you respect Islamic principles, you should open an account with the following alternatives. Second, before placing any FX trades, please ask the customer service team to switch your account to the Shariah-compliant version.
FX #1
AvaTrade is an extraordinary FX online brokerage. With one of the vastest offerings in terms of currency pairs (+50) and the characteristics every good FX Broker should have (Low Spreads and excellent trade execution), it has several unique features that make it an excellent alternative for traders in UAE.
First, its account opening and depositing processes are fast, simple, and hassle-free. This is important since some online brokers operating with clients in UAE are painful to deal with in these areas.
Second, it is a multi-regulated company licensed in the UAE by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority. Also, they hold brokerage licenses in some of the strictest jurisdictions: Europe, Australia, Japan, the British Virgin Islands, and South Africa.
Third, it offers a unique tool for FX Options trading called AvaOptions. This tool allows you to approach your FX Trading differently and uniquely, adding Call and Put instruments to your Forex risk management.
Last, AvaTrade offers an insurance service called AvaProtect, which protects your trades against losses for a chosen time frame in exchange for a fee paid at the time of purchase.
FX #2
Pepperstone is an FX Trading Platform founded in 2010 in Melbourne, Australia. The app serves over 300,000 accounts from clients based in more than 150 countries.
Pepperstone processes an average of USD 125.5 billion in Trading orders per day, making it one of the largest FX brokers globally.
Pepperstone is licensed locally by the Dubai Financial Services Authority (DFSA).
FX #3
With over 5,000,000 clients since being founded in 2009, XM is a Cypriot broker licensed locally by the Dubai Financial Services Authority (DFSA). It has grown into a large and well-established international investment firm and has become an industry leader.
XM is a good choice for traders of all levels, handling the client base with an extensive international team capable of dealing in 30 languages.
Regarding its Forex offering, XM allows traders to trade in +55 pairs with good spreads and exceptional trade execution. XM grants access to MT4, MT5, and its proprietary XM WebTrader platforms.
Top Crypto Trading Apps in UAE
Cryptocurrencies are mined or purchased from exchanges. Their skyrocketing value has made them popular as trading instruments. They are also, to a limited extent, used for cross-border transfers.
Cryptos have taken over (by surprise) the financial world. As a result, everybody is talking about them for good and bad reasons. There's an innumerable amount of new cryptos launched every week to tackle or solve a problem in particular (Like cross-border payments, tokens used for purchases in the metaverse, etc.). You even get meme coins launched to make a trading profit (A shady strategy called pump and dump). So, you have to be able to separate the wheat from the chaff. This list displays the top crypto trading platforms available in the UAE. We display three platforms we have used, deposited money, traded and withdrawn successfully.
Important: Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be highly volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Asinko or the writer to invest in cryptocurrencies, nor can the accuracy or timeliness of the information be guaranteed.
#3
Binance is the #1 Crypto trading platform globally, with the highest cryptocurrency offering and trading volumes. Although it has a steep learning curve, it supports advanced users and provides hundreds of crypto trading, staking and DeFi alternatives to international traders.
No competitor can beat Binance's low cost in the crypto space. Low fees, comprehensive charting options, and hundreds of cryptocurrencies make Binance a must-try alternative.
#2
Coinbase is a U.S.-regulated cryptocurrency exchange that allows users to buy, sell, send, receive, and exchange altcoins via a web browser or mobile app. Coinbase is an app for beginners with a simple interface and limited transaction types.
Although some competitors offer user-friendly experiences, they are usually never as easy to use as Coinbase is.
Top Stock Broker Platforms in UAE
US stocks like Apple, Tesla, and even seniors like Ford and McDonald's. UK stocks like BP, Rolls-Royce, and Tesco, as well as European, Japanese, and Australian stocks. We all love owning stocks.
International Stocks are one of the main gateways to start investing; everyone wants a share of the brands they like and use.
Although some investors in the UAE focus only on local stocks (and debt instruments), most use a global portfolio. Stockbrokers and trading platforms have granted the general public easy and understandable access to international markets. We bring you three of the best alternatives available locally.
#1
From Tech to Energy, New York to Singapore, eToro grants traders real-time access to stocks from 17 exchanges worldwide at 0% commission (applies when investing in non-leveraged, BUY stock positions). You may also invest in fractional shares, a portion of an equity stock smaller than one total share. Fractional shares enable you to purchase stocks based on the dollar amount you want to invest, allowing you to diversify an investment portfolio without much money.
Over a decade ago, eToro set out to open financial markets to everyone. Today, over 20 million registered users have simple, affordable access to stock investment in an easy-to-use platform.
eToro (ME) Limited is licensed and regulated by the Abu Dhabi Global Market's Financial Services Regulatory Authority
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
#2
#3
From Tech to Energy, New York to Singapore, eToro grants traders real-time access to stocks from 17 exchanges worldwide at 0% commission (applies when investing in non-leveraged, BUY stock positions). You may also invest in fractional shares, a portion of an equity stock smaller than one total share. Fractional shares enable you to purchase stocks based on the dollar amount you want to invest, allowing you to diversify an investment portfolio without much money.
Over a decade ago, eToro set out to open financial markets to everyone. Today, over 20 million registered users have simple, affordable access to stock investment in an easy-to-use platform.
eToro (ME) Limited is licensed and regulated by the Abu Dhabi Global Market's Financial Services Regulatory Authority
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.COMMODITIES
ETFS
Buying and selling ETFs is straightforward at eToro. Moreover, the minimum investment is low, making it accessible for beginners.
eToro offers more than 300 ETFs focusing on asset classes, including stock indices, thematic ETFs, commodities, inverse ETFs, and leveraged ETFs.
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.TRANSFERS
Do you need a payment provider to transact in different currencies?
Wise is an online account that facilitates sending money, receiving payments, and moving money across borders. Wise allows you to hold 53 different currencies and make local transfers in 10. It works worldwide and lets you withdraw cash at ATMs with a MasterCard card. In addition to being free, you can check the exchange rate before sending money abroad, and there are no hidden fees. Furthermore, it is a safe app, as the FCA and FinCEN regulate it. Also, if you need to solve payments with your company, it offers a practical solution for companies to pay invoices, suppliers, and employees in 80 countries.
LEGAL DISCLAIMER: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. ASINKO does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of ASINKO nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from ASINKO. ASINKO and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. ASINKO and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and ASINKO are not registered investment advisors and nothing in this article is intended to be investment advice.