To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 94 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.
5 brokers made it to the top in the Middle East. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for best international online broker of 2021 for citizens in the Middle East:
- Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
- Swissquote takes second place. Access to many markets and products. No inactivity fee. Rock-solid background.
- TradeStation rounds out the top three. Great web and mobile trading platform. Low stock and ETF fees. High-quality educational tools.
- Oanda, numero quattro. Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- Trading 212 just made it to the list at in fifth place. Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | International broker providing all asset classes | 4.9 | Best online broker |
| #2 | Swissquote | Swiss investment bank | 4.7 | |
| #3 | TradeStation | US stockbroker | 4.6 | |
| #4 | Oanda | US forex broker | 4.6 | |
| #5 | Trading 212 | Global CFD and forex broker | 4.3 |
What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.
These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.
And now, let's see the best international online brokers in 2021 for citizens in the Middle East one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for Middle East citizens
Interactive Brokers
Interactive Brokers review summary
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.
Our overall Interactive Brokers rating
Compare this broker to the best Interactive Brokers alternative here.
Recommended for traders looking for broad market access and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • Understaffed customer service |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| US stock | $1.0 | $25.0 | $1.0 | - | $0.0 |
| UK stock | $4.2 | $35.0 | - | - | $0.0 |
| EURUSD benchmark fee | $10.7 | $10.1 | - | $7.7 | $28.5 |
| AUDUSD benchmark fee | $8.6 | $7.7 | - | $7.2 | $16.0 |
| GBPUSD benchmark fee | $8.6 | $6.8 | - | $5.9 | $22.7 |
| S&P 500 index CFD fee | $2.8 | $2.6 | - | $1.7 | $4.1 |
| Europe 50 index CFD fee | $3.1 | $3.0 | - | $1.7 | $6.2 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal free each month |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $10 | $0 | $0 | $0 |
#1 Interactive Brokers
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | Yes | No | No |
| Bonds | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | No |
#1 Interactive Brokers
Web trading platform
Interactive Brokers' web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
| • User-friendly | • User experience could be better |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Desktop platform score | 3.8 stars | 3.4 stars | 2.5 stars | 4.5 stars | - |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools.
There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.5 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
#2 Best international online brokers for Middle East citizens
Swissquote
Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options and futures, and a company in the UK for CFDs and forex.
Formally, Swissquote Bank Ltd is based in Switzerland and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country's financial regulator.
The other entity, Swissquote Ltd, is Luxembourg and offers CFDs and forex trading. It is regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's regulator. The purpose of this entity is to grant access to the European markets after Brexit. The UK entity remained only for UK clients
Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, discloses detailed financials regularly and has a long track record.
Here, we focus mainly on the Swiss entity, sometimes referred to as "Swissquote (CH)". Throughout our content, we will refer to the Luxembourg-based entity as "Swissquote Europe (LUX)".
Recommended for affluent investors who value safety and are ok with higher fees
| Pros | Cons |
|---|---|
| • Access to many markets and products | • High trading fees |
| • No inactivity fee | • Confusing trading platform selection |
| • Rock-solid background | • Some research tools are not free |
#2 Swissquote
Fees
Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stocks and ETFs fees, and there is a fee for withdrawing your money.
| Pros | Cons |
|---|---|
| • Low fund fees | • High stock and ETF fees |
| • No inactivity fee | • High bond fees |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| US stock | $1.0 | $25.0 | $1.0 | - | $0.0 |
| UK stock | $4.2 | $35.0 | - | - | $0.0 |
| EURUSD benchmark fee | $10.7 | $10.1 | - | $7.7 | $28.5 |
| AUDUSD benchmark fee | $8.6 | $7.7 | - | $7.2 | $16.0 |
| GBPUSD benchmark fee | $8.6 | $6.8 | - | $5.9 | $22.7 |
| S&P 500 index CFD fee | $2.8 | $2.6 | - | $1.7 | $4.1 |
| Europe 50 index CFD fee | $3.1 | $3.0 | - | $1.7 | $6.2 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#2 Swissquote
Account opening
Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
| Pros | Cons |
|---|---|
| • Fully digital | • Long wait times |
| • No minimum deposit for trading account | • Forex and robo-advisor accounts have high minimum deposit |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1 day |
#2 Swissquote
Deposit and withdrawal
Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer, and the Swiss entity charges fees.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Swiss entity charges withdrawal and deposit fees |
| • Several account base currencies |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $10 | $0 | $0 | $0 |
#2 Swissquote
Markets and products
At Swissquote (CH) you can access many markets and trade with a lot of different product types. At Swissquote Bank (LUX) you can trade forex and CFDs too.
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | Yes | No | No |
| Bonds | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | No |
#2 Swissquote
Web trading platform
The Swissquote (CH) eTrading platform has a lot of functions, so many that sometimes it can get complicated. Customizability is good and there is a clear overview of trading fees, but it's easy to get lost on the platform.
| Pros | Cons |
|---|---|
| • Clear fee report | • Easy to get lost among functions |
| • Two-step (safer) login | |
| • Good search function |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Desktop platform score | 3.8 stars | 3.4 stars | 2.5 stars | 4.5 stars | - |
#2 Swissquote
Verdict
Swissquote is an investment bank with a rock-solid background:
- It is Swiss,
- it is listed on an exchange
- and it is a bank.
It has two main entities, one in the UK and one in Switzerland. If you open an account at the London-based entity you can trade forex and CFDs, while the Swiss entity gives you access to assets ranging from stocks to options.
Swissquote offers a broad range of products across many markets. There are many stocks, mutual funds, and a lot of different other types of products, from bonds to cryptos.
However, nothing is free: Swissquote's trading fees are relatively high.
All in all, Swissquote is a great stockbroker. As you can trade many products and no inactivity fee is charged, feel free to give it a try.
| Swissquote | |
|---|---|
| Summary | Swissquote is a Swiss online broker with a banking license. It is listed on the Swiss stock exchange and regulated by several authorities globally, including the top-tier UK FCA. |
| Fees score | 2.4 stars |
| Recommended for | Affluent investors who value safety and are OK with higher fees |
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#3 Best international online brokers for Middle East citizens
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Mediocre customer service |
#3 TradeStation
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees / Free stock trading | |
| • Multiple fee structures to choose from |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| US stock | $1.0 | $25.0 | $1.0 | - | $0.0 |
| UK stock | $4.2 | $35.0 | - | - | $0.0 |
| EURUSD benchmark fee | $10.7 | $10.1 | - | $7.7 | $28.5 |
| AUDUSD benchmark fee | $8.6 | $7.7 | - | $7.2 | $16.0 |
| GBPUSD benchmark fee | $8.6 | $6.8 | - | $5.9 | $22.7 |
| S&P 500 index CFD fee | $2.8 | $2.6 | - | $1.7 | $4.1 |
| Europe 50 index CFD fee | $3.1 | $3.0 | - | $1.7 | $6.2 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#3 TradeStation
Account opening
TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1 day |
#3 TradeStation
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $10 | $0 | $0 | $0 |
#3 TradeStation
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | Yes | No | No |
| Bonds | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | No |
#3 TradeStation
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Desktop platform score | 3.8 stars | 3.4 stars | 2.5 stars | 4.5 stars | - |
#3 TradeStation
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfers. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
#4 Best international online brokers for Middle East citizens
Oanda
Oanda is an American forex broker founded in 1996. It is still a private company, thus not listed on any stock exchange.
Oanda is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association (CFTC) and the UK's Financial Conduct Authority (FCA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The services offered by the broker's different entities differ slightly. In this review, we mainly focus on the UK one.
Recommended for forex traders who value a user-friendly platform and great research tools
| Pros | Cons |
|---|---|
| • Great trading platforms | • Only FX and CFD available |
| • Outstanding research tools | • No stock exchange listing and banking background |
| • Fast and user-friendly account opening | • Customer support is not 24/7 |
#4 Oanda
Fees
Oanda has low forex, but average CFD fees. As a plus, the withdrawal fees are low.
| Pros | Cons |
|---|---|
| • Low forex fees | • Average CFD fees |
| • First credit/debit card withdrawal per month is free |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| US stock | $1.0 | $25.0 | $1.0 | - | $0.0 |
| UK stock | $4.2 | $35.0 | - | - | $0.0 |
| EURUSD benchmark fee | $10.7 | $10.1 | - | $7.7 | $28.5 |
| AUDUSD benchmark fee | $8.6 | $7.7 | - | $7.2 | $16.0 |
| GBPUSD benchmark fee | $8.6 | $6.8 | - | $5.9 | $22.7 |
| S&P 500 index CFD fee | $2.8 | $2.6 | - | $1.7 | $4.1 |
| Europe 50 index CFD fee | $3.1 | $3.0 | - | $1.7 | $6.2 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#4 Oanda
Account opening
Oanda's account opening is straightforward, with no required minimum balance.
| Pros | Cons |
|---|---|
| • Fully digital | None |
| • No minimum deposit |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1 day |
#4 Oanda
Deposit and withdrawal
Oanda charges no deposit and account fees. The inactivity fee is also reasonable. You can also withdraw your money free of charge with a debit or credit card, but bank transfers and PayPal withdrawals are quite costly.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High withdrawal fee for bank transfers and PayPal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $10 | $0 | $0 | $0 |
#4 Oanda
Markets and products
At Oanda you can trade only forex and CFDs. It offers fewer forex pairs but more CFDs than its closest competitors.
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | Yes | No | No |
| Bonds | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | No |
#4 Oanda
Web trading platform
Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Desktop platform score | 3.8 stars | 3.4 stars | 2.5 stars | 4.5 stars | - |
#4 Oanda
Verdict
Oanda is a great forex broker. It has user-friendly trading platforms that you will quickly learn to use confidently. It also provides powerful research tools, especially trading APIs. The account opening is easy and quick.
On the other hand, Oanda's product selection is limited to forex and CFD products. It doesn't have a banking background and is not listed on any stock exchange, two typical factors that enhance transparency and regulatory scrutiny. Customer support is not 24/7 as well.
Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after one year.
| Oanda | |
|---|---|
| Summary | Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC. |
| Fees score | 4.1 stars |
| Recommended for | Forex traders who value a user-friendly platform and great research tools |
#5 Best international online brokers for Middle East citizens
Trading 212
Trading 212 review summary
Trading 212 is a global CFD and forex broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC).
Trading 212 is considered safe as it is regulated by the top-tier FCA.
Disclaimer: 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.
Our overall Trading 212 rating
Compare this broker to the best Trading 212 alternative here.
Recommended for active cfd and fx traders and investors looking for intuitive trading platforms
| Pros | Cons |
|---|---|
| • Real stocks and ETFs are commission-free | • Limited product portfolio |
| • Quick and easy account opening | • Missing phone and live chat support |
| • Great trading platforms | • High forex fee |
#5 Trading 212
Fees
Trading 212 has commission-free stocks and ETFs, and there are also no fees for deposit, withdrawal or inactivity. However, fees for forex trading are high.
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High forex fees |
| • Low CFD fees | • High financing rate |
| • No withdrawal and inactivity fee |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| US stock | $1.0 | $25.0 | $1.0 | - | $0.0 |
| UK stock | $4.2 | $35.0 | - | - | $0.0 |
| EURUSD benchmark fee | $10.7 | $10.1 | - | $7.7 | $28.5 |
| AUDUSD benchmark fee | $8.6 | $7.7 | - | $7.2 | $16.0 |
| GBPUSD benchmark fee | $8.6 | $6.8 | - | $5.9 | $22.7 |
| S&P 500 index CFD fee | $2.8 | $2.6 | - | $1.7 | $4.1 |
| Europe 50 index CFD fee | $3.1 | $3.0 | - | $1.7 | $6.2 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#5 Trading 212
Account opening
The account opening process is straightforward, user-friendly and quick. Our account was verified within one business day.
| Pros | Cons |
|---|---|
| • Fast | • Problems with verification |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days | 1 day |
#5 Trading 212
Deposit and withdrawal
Trading 212 deposits and withdrawals are free, fast, and can be done in several way. On the negative side, there are only a few account base currencies available in each country.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few base currencies available in each country |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $10 | $0 | $0 | $0 |
#5 Trading 212
Markets and products
Trading 212 focuses mainly on CFDs and forex. You can also trade real stocks and ETFs, but popular asset classes like bonds, mutual funds, options and futures are missing.
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | No | Yes |
| ETFs | Yes | Yes | Yes | No | Yes |
| Forex | Yes | Yes | No | Yes | Yes |
| Funds | Yes | Yes | Yes | No | No |
| Bonds | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | No | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | No |
#5 Trading 212
Web trading platform
Trading 212 has a user-friendly and customizable web trading platform. It also provides a two-step login.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Two-step (safer) login | |
| • Good search function |
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Desktop platform score | 3.8 stars | 3.4 stars | 2.5 stars | 4.5 stars | - |
#5 Trading 212
Verdict
Trading 212 works as a CFD and forex broker regulated by multiple financial supervisory authorities.
On the plus side, Trading 212 offers commission-free stocks and ETFs, while CFD fees and non-trading fees are low as well. The account opening process is seamless and the trading platforms are user-friendly.
However, Trading 212 has a limited product portfolio, lacking popular asset classes such as bonds or options. We missed phone and live chat support, and found forex fees relatively high.
So is Trading 212 good? Trading 212 is a good choice for those interested in investing in equities or trading leveraged forex and CFD products, with the use of a great trading platform. As it offers a demo account, don't hesitate to give it a try.
| Trading 212 | |
|---|---|
| Summary | Trading 212 is a CFD and forex broker regulated by the UK FCA and Bulgarian FSC. In the UK and Germany, Trading212 offers commission-free stock and ETF trading as well. |
| Fees score | 3.3 stars |
| Recommended for | Active CFD and FX traders and investors looking for intuitive trading platforms |
Best international online brokers for citizens in the Middle East
What makes a good online broker
Now that you know the top 5, you are probably curious how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago, if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.
Are these brokers safe?
We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.
However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.
If all goes wrong, and for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.
How did BrokerChooser pick the best online brokers?
At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.
| 1. Fees | The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees. |
| 2. Account opening | Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers. |
| 3. Deposit and withdrawal | At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 4. Markets and products | You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account. |
Best international online brokers for citizens in the Middle East
Bottom line
These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in the Middle East:
| Interactive Brokers | Swissquote | TradeStation | Oanda | Trading 212 | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.7 | 4.6 | 4.6 | 4.3 |
| Best in | Best online broker | ||||
| Fees score | 4.5 stars | 2.4 stars | 4.1 stars | 4.1 stars | 3.3 stars |
| Account opening score | 3.4 stars | 4.0 stars | 5.0 stars | 4.4 stars | 4.5 stars |
| Deposit and withdrawal score | 3.0 stars | 4.6 stars | 2.3 stars | 4.2 stars | 4.3 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 2.8 stars | 1.6 stars | 3.9 stars |
| Web platform score | 4.0 stars | 4.3 stars | 4.5 stars | 4.5 stars | 4.9 stars |
| Mobile platform score | 3.5 stars | 4.7 stars | 4.8 stars | 5.0 stars | 4.9 stars |
| Visit broker | Visit broker | Visit broker |
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74-89% of retail CFD accounts lose money |
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76% of retail CFD accounts lose money |
Interactive Brokers is our winner, the best international online broker in the Middle East for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.
