Intro and winners
Find below the strengths of the best brokers available in the United Arab Emirates, updated for 2024:
- Interactive Brokers is the best international online brokers in the United Arab Emirates in 2024. - Low trading fees and high interest on cash balances. Wide range of products. Many great research tools.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
- eToro - Free stock and ETF trading. Seamless account opening. Social trading.
- XTB - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
- Trading 212 - Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms. Pays interest on uninvested cash.
- Plus500 - Well-designed platform. Great account opening. Quick and helpful customer support.
- Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
- IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
- Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
- Intro and winners
- International online brokers' key info overview
- Trading fees
- Other fees at international online brokers
- Our assessment of best online brokers for residents in the United Arab Emirates
- Financial market regulation in the United Arab Emirates
- Interactive Brokers
- Saxo Bank
- eToro
- XTB
- Trading 212
- Plus500
- Oanda
- Admirals (Admiral Markets)
- IG
- Forex.com
- Didn't find the best broker for you?
- How did we select the best international online brokers in the United Arab Emirates in 2024?
- FAQ
International online brokers' key info overview
While many international online trading brokers offer an excellent service, the ones in our toplist go the extra mile. These international online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.
Broker | Minimum deposit | Time to open account |
---|---|---|
Interactive Brokers | $0 | 1-3 days |
Saxo Bank | $0 | 1 day |
eToro | $10 | 1 day |
XTB | $0 | 1 day |
Trading 212 | $1 | 1 day |
Plus500 | $100 | 1 day |
Oanda | $0 | 1-3 days |
Admirals (Admiral Markets) | $100 | 1 day |
IG | $0 | 1-3 days |
Forex.com | $100 | 1-3 days |
Popularity of the best online brokers in the United Arab Emirates
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Trading fees
In most cases the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.
Broker | US stock | UK stock |
---|---|---|
Interactive Brokers | $1.0 | $3.8 |
Saxo Bank | $1.6 | $3.8 |
eToro | $0.0 | $0.0 |
XTB | $0.0 | $0.0 |
Trading 212 | $0.0 | $0.0 |
Plus500 | - | - |
Oanda | $0.0 | - |
Admirals (Admiral Markets) | $0.0 | $0.0 |
IG | $15.0 | $10.0 |
Forex.com | - | - |
Other fees at international online brokers
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
Broker | Account fee | Inactivity fee |
---|---|---|
Interactive Brokers | ||
Saxo Bank | ||
eToro | ||
XTB | ||
Trading 212 | ||
Plus500 | ||
Oanda | ||
Admirals (Admiral Markets) | ||
IG | ||
Forex.com |
Our assessment of best online brokers for residents in the United Arab Emirates
At BrokerChooser, we do our best to make it easier for you to compare and select the best broker for your needs. Here is a summary of our scores in the most important aspects of these trading platforms' services.
Broker | Overall score | Fees score |
---|---|---|
Interactive Brokers | 4.9 /5 | 4.3 /5 |
Saxo Bank | 4.9 /5 | 3.0 /5 |
eToro | 4.8 /5 | 4.0 /5 |
XTB | 4.8 /5 | 4.5 /5 |
Trading 212 | 4.5 /5 | 3.8 /5 |
Plus500 | 4.5 /5 | 3.7 /5 |
Oanda | 4.5 /5 | 4.1 /5 |
Admirals (Admiral Markets) | 4.5 /5 | 3.7 /5 |
IG | 4.5 /5 | 3.5 /5 |
Forex.com | 4.5 /5 | 3.7 /5 |
If you are unsure how brokerage fees are charged, check out this article on the various fees, charges and costs.
Financial market regulation in the United Arab Emirates
The regulatory environment for online brokerages is quite complex in the United Arab Emirates. Traders are served by hundreds of brokerages offering a wide range of financial instruments, such as stocks, forex, CFDs, commodities and others. The Securities and Commodities Authority (SCA) oversees all non-banking financial services in the country, including brokerages.
The brokerages that operate under a direct license from the SCA are called mainland brokers and they are subject to a number of restrictions with regards to their ownership structure, capital requirements and client money handling. They also follow Sharia law and have to offer interest-free products.
There are, however, two [free financial zones in the UAE, which have their own regulatory regimes, albeit they still impose stringent rules to protect clients. These are the Abu Dhabi Global Market (ADGM) and, the better known Dubai International Financial Center (DIFC).
Dubai-based brokers are regulated by the Dubai Financial Services Authority (DFSA), and international brokers, often regulated in the UK or in the EU, are able to operate in the financial zones. While it’s not a requirement in the free financial zones, many international brokers cater to Islamic customers by offering Sharia-compliant Islamic, or swap-free accounts.
If you want to trade forex, contracts for difference (CFDs) on several instruments, such as commodities, precious metals, indices or shares, the easiest way to start is to open an account with an onile broker.
However, to buy or trade stocks, you need to open an account with a brokerage registered with one of the three exchanges based in Dubai or Abu Dhabi – the Dubai Financial Market (DFM), the Abu Dhabi Securities Exchange (ADX) or the NASDAQ Dubai. It’s possible to gain exposure to UAE and international stocks and indices via contracts for difference (CFDs) without having to own the asset itself.
And now, let's see the top international online brokers for 2024 for residents in the United Arab Emirates in detail one by one, starting with the winner, Interactive Brokers.
Recommended for traders looking for broad market access and a professional trading environment
Interactive Brokers snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer |
Withdrawal method | Bank transfer |
Withdrawal fee | $0 |
Time to open account | 1-3 days |
Inactivity fee | No |
Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2024 |
Recommended for investors and traders looking for a great trading platform and solid research
Saxo Bank snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Average |
Deposit method | Bank transfer, Credit/debit cards |
Withdrawal method | Bank transfer |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of Saxo Bank services, check out our review for 2024 |
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading
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AFSL 491139. Capital at risk. See PDS and TMD.
eToro snapshot | |
---|---|
Minimum deposit | $10 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay |
Withdrawal method | Bank transfer, Credit/debit cards, eToro Money, Neteller, Skrill, Trustly, iDEAL, Przelewy 24, RapidTransfer, Klarna, Giropay |
Withdrawal fee | $5 |
Time to open account | 1 day |
Inactivity fee | Yes |
Read review | For a detailed analysis of eToro services, check out our review for 2024 |
Recommended for forex and CFD traders looking for low fees and great deposit/withdrawal service
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81% of retail CFD accounts lose money
XTB snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, Paysafe, Skrill, ecommpay, PayU, PayPal |
Withdrawal method | Bank transfer |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | Yes |
Read review | For a detailed analysis of XTB services, check out our review for 2024 |
Recommended for equity investors and CFD traders looking for easy-to-use trading platforms
Trading 212 snapshot | |
---|---|
Minimum deposit | $1 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, OnlineBankingPL, Giropay, Carte Bleue, Blik, Direct eBanking, Apple / Google Pay, PayPal, iDEAL |
Withdrawal method | Bank transfer, Credit/debit cards, OnlineBankingPL, Giropay, Carte Bleue, Blik, Direct eBanking, Apple / Google Pay, PayPal, iDEAL |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of Trading 212 services, check out our review for 2024 |
Recommended for experienced traders looking for an innovative platform and a great user experience
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82% of retail CFD accounts lose money
Plus500 snapshot | |
---|---|
Minimum deposit | $100 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Google Pay, Apple Pay, iDeal, POLi, PayNow, Blik, BPay, Klarna, GiroPay |
Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Google Pay, Apple Pay, iDeal, POLi, PayNow, Blik, BPay, Klarna, GiroPay |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | Yes |
Read review | For a detailed analysis of Plus500 services, check out our review for 2024 |
Recommended for forex traders who value a user-friendly platform and great research tools
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78.3% of retail CFD accounts lose money
Oanda snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
Withdrawal fee | $0 |
Time to open account | 1-3 days |
Inactivity fee | Yes |
Read review | For a detailed analysis of Oanda services, check out our review for 2024 |
Recommended for forex traders who are familiar with the MetaTrader trading platforms
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80% of retail CFD accounts lose money
Admirals (Admiral Markets) snapshot | |
---|---|
Minimum deposit | $100 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong |
Withdrawal method | Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | Yes |
Read review | For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024 |
Recommended for traders of any experience level looking for an easy-to-use trading platform
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69% of retail CFD accounts lose money
IG snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Average |
Deposit method | Bank transfer, Credit/debit cards, PayPal |
Withdrawal method | Bank transfer, Credit/debit cards |
Withdrawal fee | $0 |
Time to open account | 1-3 days |
Inactivity fee | Yes |
Read review | For a detailed analysis of IG services, check out our review for 2024 |
Recommended for forex traders looking for low fees and great research tools
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68% of retail CFD accounts lose money
Forex.com snapshot | |
---|---|
Minimum deposit | $100 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, Skrill, Neteller |
Withdrawal method | Bank transfer, Credit/debit cards, Skrill, Neteller |
Withdrawal fee | $0 |
Time to open account | 1-3 days |
Inactivity fee | Yes |
Read review | For a detailed analysis of Forex.com services, check out our review for 2024 |
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How did we select the best international online brokers in the United Arab Emirates in 2024?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fees, commissions),
- We checked and compared every aspect of their services,
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
- November 14, 2022. : we gave higher weights for fees and safety. Lower scoring weights were used for trading platform, research, customer service, and education.
- December 5, 2021. : the fees and safety weights increased significantly. Research, customer service, and education scoring weightes decreased.
- November 21, 2019. : the weights for fees, account opening, and deposit/withdrawal increased. We gave lower weights to safety, customer service, and education.
FAQ
Do I need to pay tax as a trader in the United Arab Emirates?
There is no income tax or capital gains tax levied on profit from trading securities, forex or CFDs in the UAE. There is also no stamp duty on transferring ownership of securities (i.e.: when buying stocks).
What is an Islamic account?
An Islamic account is compliant with Islamic, or Sharia, law, which prohibits the use of interest for lending. The population in the United Arab Emirates is multinational and multicultural, however, Islam is the predominant religion, therefore, most international brokers offer swap-free, or Islamic, accounts.
Islamic accounts incur a fixed fee rather than a swap, and traders are not charged interest when their positions are left open overnight. Brokers outside the free financial zones around Dubai and Abu Dhabi that are regulated by the Securities and Commodities Authority (SCA) must comply with Sharia law. Brokers in the free zones don't have to, but they typically offer Islamic products.
Which broker should I choose as a beginner?
First of all, a beginner trader should look for a well-regulated broker they can trust and then look at the trading conditions offered by the broker. Low fees (or tight spreads) are key as beginners will certainly make some mistakes in their trading journey as they learn.
An easy-to-use trading platform, and the option of a mobile platform, to trade on the go, will also help in the learning process. Look for a broker that offers a demo account, to practice trading with virtual money without risking your own capital, and one that has great educational materials, including tutorials for beginners.
In addition, check out our broad range of learning materials on the BrokerChooser education page. To find the best online broker for your level of expertise and risk-tolerance, use our find my broker tool.
How can I invest in UAE-listed stocks?
To buy UAE-listed stocks and to trade them you need to open an account with a broker registered with one of the three stock exchanges in the country – the Dubai Financial Market (DFM), the Abu Dhabi Securities Exchange (ADX) or the NASDAQ Dubai.
Local residents, expats, and even tourists can buy stocks listed on one of these bourses. All they need to do is to request an investor number (NIN) online or through a broker. Residents can trade international stocks with online brokers that offer them.
What is the difference between a stock and a stock CFD?
Apart from owning shares outright, another way of getting exposure to UAE and international stocks and indices via contracts for difference (CFDs) without having to own the asset itself. You don’t need an NIN to trade CFDs on shares, indexes or ETFs (exchange-traded funds).
With CFDs you can speculate on the price movements of stocks and other related instruments whether they are rising or falling. What you do is exchange the difference in price with your broker between the time you enter the position and the time when you close it.
Online brokers also offer leverage (funds you can borrow to open a larger trading position than your capital would allow). Bear in mind that leverage would amplify your gains as well as your losses.