Best Trading Platforms In The UAE (2024)

Trading 212 is a UK fintech that offers a trading app providing commission-free trading in the UAE. However, if you buy and sell investments in a currency other than sterling, there’s a 0.15% foreign exchange fee to consider.

The platform offers a wide choice of investments, along with the option to buy fractional shares (more on this below). Bear in mind the platform offers Exchange Traded Funds (ETFs), but not Open Ended Investment Company (OEIC) funds.

Trading 212 also charges a low foreign exchange fee at 0.15%. Investors can hold 12 different currencies within the account, including US dollars, pounds sterling and euros, and interest is paid on cash balances.

While Trading 212 customers can access support via the app, bear in mind there’s no telephone helpline. However, when we tested the online chat service, we got a quick response, and an excellent level of information, in response to our questions.

Overall, Trading 212 combines low fees with a good choice of investments. It is also the cheapest platform for overseas share trading thanks to the low foreign exchange fee. However, investors will find comparatively little in the way of investment research, so this option could be best for those who feel confident picking their own investments without much of a steer.

Here’s what you’d pay each year for three different portfolio values:

$25,000: $37.50
$50,000: $75
$100,000: $150

Based on foreign exchange fee.

You can see how we worked this out in our Methodology, below.

Saxo is a Danish bank, but its trading account is available to customers in the UAE. With over 20,000 assets on offer across multiple exchanges, the platform offers a strong range of investment options, including 11 Bitcoin ETFs.

Saxo also provides an excellent level of research and market insights, and offers functionalities including stop loss and limit orders.

Trading fees vary depending on where in the world your chosen shares are listed, and which membership tier you choose. For the entry level Classic account, trading fees for US shares and ETFs start at $1.

Elsewhere, the custody fee is 0.15%.

Saxo’s premium Platinum and VIP plans offer fees up to 30% lower. However, to qualify for these tiers you’ll need a portfolio worth at least $250,000 or $1.25 million, respectively.

All account holders benefit from 24 hour customer support, and earn interest on their cash deposits.

Overall, the platform could be a good fit for experienced DIY investors who wish to trade a wide array of assets, and benefit from in-depth research.

Here’s what you’d pay each year for three different portfolio values:

$25,000: $61.50
$50,000: $99
$100,000: $174

You can see how we worked this out in our Methodology, below.

IG is a FTSE 250 company with over 300,000 clients in 17 countries. It offers one of the widest range of investments, together with advanced technical trading tools, making it a good option for experienced DIY investors.

The provider’s share trading account comes with a flat annual fee of $120. Customers can trade up to 50 US shares per month free of charge, but a $5 fee kicks in thereafter. Trading UK shares costs £8 ($10.15), and trading European shares costs €10 ($10.85).

The flat platform fee may appeal to investors with higher value portfolios. IG also drops this fee altogether for users who make at least three trades per quarter (12 per year).

However, the platform structure may be expensive for occasional traders with lower-value portfolios.

Investors can buy overseas shares in the US, UK, ROI and Germany. IG offers 24 hour customer support Monday to Friday, and from 11am on Saturday.

Bear in mind there is no interest paid on cash balances.

Overall, IG is likely to appear to more confident traders who want a wide range of more complex investments, together with advanced trading tools.

Here’s what you’d pay each year for three different portfolio values:

$25,000: $120
$50,000: $120
$100,000: $120

You can see how we worked this out in our Methodology, below.

eToro was founded in 2007 with a focus on creating a community for social investing. It has 30 million users in more than 100 countries.

eToro charges no trading platform fees, and offers trading tools such as stop losses, limit orders and leveraged trading. It also has “social” and “copy” trading options to allow beginner investors to interact with more experienced investors.

However, accounts are held in US dollars and non-US clients are charged a 0.5% currency conversion fee when funds are deposited. There’s also a $5 withdrawal fee and an inactivity fee of $10 per month (after 12 months with no log-in activity).

It offers a wide choice of shares and ETFs, together with an extensive range of cryptocurrencies.

eToro does not offer support by telephone, although clients can use a live chat or messaging facility. We received responses to our message within a few hours. Trading by telephone is provided to customers with a portfolio of $25,000.

eToro also offers an Islamic Account to its UAE clients, which follows Sharia finance principles.

Overall, eToro is likely to appeal to confident investors requiring minimal support, or investors wanting to trade in many US and other international shares.

Here’s what you’d pay each year for three different portfolio values:

$25,000: $125
$50,000: $250
$100,000: $500

Assuming a 0.5% currency conversion fee from UAE Dirham to US dollars.

You can see how we worked this out in our Methodology, below.