Navigating the world of online trading can be challenging as a beginner. It feels like you’ve fallen down the rabbit hole, lost in digital wonderland, not knowing what’s what. But the plethora of trading apps available today make the journey a little bit easier.
That said, how do you know which is the best trading app in UAE for you?
We’ve reviewed and listed the best trading apps in Dubai to help make your decision.
Whether you are a pro trader or an amateur trying to start a retirement fund, this blog (and hopefully these apps) will be your guiding light, helping you chart your way through the complex world of online trading.
10 Best Trading Apps in UAE
In our dynamic, fast-paced world, online trading platforms are game changers. They empower traders to buy, sell, short sell, build, and manage their portfolios on the go. The top 10 trading platforms in UAE that make this list are:
1. eToro
With its diversity of trading products available, eToro is one of the best UAE government approved trading apps around. You can trade in Stocks, ETFs, Crypto, Options, Futures, and so on through the web or mobile app.
What makes it unique, however, is its social feature that allows users to connect with and learn from other investors on the platform. You can follow and even ‘copy’ trading options of other seasoned investors, steadily strengthening your footing in the trading realm.
It also offers an Islamic Account for its UAE clients that follows the Sharia finance principles.
Conversely, while it offers commission-free trading, there are other fees applicable. For example, because the accounts are strictly in US Dollars, there is a small currency conversion fee charged when funds are deposited for non-US clients. There is also a withdrawal fee and an inactivity fee when accounts have been inactive for over 12 months.
Overall though, I’d say eToro is the best trading app in UAE for beginner and veteran traders alike, especially if you’re interested in the US financial markets.
Download for Android | for iOS
2. IG: Stock Trading Account
Where eToro is a good option for traders of all experience levels, the IG trading app would better serve exceptionally seasoned traders with higher value portfolios. The app offers diverse investment options including Stocks and ETFs and advanced technical tools that you can leverage better if you know your way around the financial markets.
The platform fee is also minimal for those with higher value portfolios, even negligible if you make at least three trades per quarter. But for the occasional traders with lower value portfolios it may not be so insignificant.
That said, from the best android and iOS app development service providers, IG trading app is the best trading app in UAE for those interested in international markets like the US, UK, and Germany. Plus, its 24/5 customer support means you can reach out for any query at any time of the day, Monday to Friday.
Download for Android | for iOS
3. Sarwa
Sarwa is a Dubai-based trading company with four primary services: Sarwa Save, Sarwa Trade, Sarwa Invest, and Sarwa Crypto dedicated to saving, stock trading, portfolio management, and crypto, respectively.
Where Sarwa Invest is a robo-advisor, offering auto investment and ETF portfolio management, with Sarwa Trade, you can run the show yourself, trading in US stocks and ETFs.
Conversely, Sarwa Save is an alternative for safe, risk-free cash management and earning interest on cash, while Sarwa Crypto is your go-to if you want to trade exclusively in cryptocurrencies.
The app is still relatively new in the market with limited assets that do not include Bonds, Options, or shares outside the US. But it is the best online trading app in UAE for amateur traders with its user-friendly, intuitive UI, and auto-investment options.
It also offers consultations with licensed financial experts tailored to your specific needs. So, you can get your feet wet in the trading domain with Sarwa offering support and guidance at every turn.
Download for Android | for iOS
4. Plus500
Another name among the best trading apps in Dubai is Plus500 Trading. It is essentially an internationally-operating fintech group with three proprietary trading platforms: Plus500 CFD, Plus500 Invest, and Plus 500 Trading App.
It combines the sophistication of advanced tech with the simplicity of an intuitive UI to provide a seamless trading experience for veteran and amateur traders alike. The user-friendly navigation allows you to navigate the platform and use the complex features to build your trading portfolio.
Additionally, new traders can create demo accounts with virtual funds, allowing you to test the features without risking real money.
Plus500 also offers advanced risk management and analysis tools, secure executions and withdrawals with little to no commissions. You can trade in CFDs, ETFs, Options, Futures, Crypto, and more.
That said, there is an inactivity fee if you’ve not logged in at all in a year.
Download for Android | for iOS
5. Pepperstone
With Pepperstone we’re halfway through the list of top 10 trading platforms in the UAE. As an online broker, licensed from DFSA, it is accessible via desktop, web, and mobile app.
The platform offers access to diverse markets including Forex and CFDs. Plus, with its advanced trading tools such as strategy backtesting, the app is ideal for occasional and experienced traders.
You can seek consults and improve your portfolio with expert advisors and robo-advisors. With zero commissions on stocks, minimal competitive spreads on other assets, and no withdrawal or inactivity fees, Pepperstone also ensures low overall costs.
Download for Android | for iOS
6. Interactive Broker (IBKR)
With over 40 years of experience in the financial markets and regulated by several top-tier regulators, Interactive Broker is one of the best trading platforms in UAE.
The trading platform features several mobile and web-based apps with advanced features and intuitive UI catering to different trading strategies and users’ experience. Meaning, both veteran traders and beginners can find a trading app that fits their knowledge and experience with similar advanced and sophisticated tools that sets IBKR apart.
That said, while the fee structure is complex and commission rates are applied for non-US clients, the app still provides significant savings for its users making it the best trading app in UAE relative to most trading apps.
Download for Android | for iOS
7. XTB
Regulated by the Federal Conduct Authority and other regulatory bodies, XTB is a trusted choice among traders. The platform is known for its expansive offerings, including Stocks, ETFs, and more, and competitive fees.
Not only are there Islamic accounts for UAE clients, but with zero commissions on stocks and ETFs, no minimum deposit and free demo accounts, the app is ideal for all traders.
That said, despite its user-friendly navigation, XTB can be a little challenging for newbie traders just stepping into the complex realm of online trading.
Download for Android | for iOS
8. Ava Trade
Ava Trade is another licensed broker with a trading platform developed by the best mobile app development company in Dubai, and preferred more often by experienced traders than beginners. Available on multiple devices, it offers access to a range of assets including CFDs on Forex, Stocks, Crypto, Options, and more.
It also features advanced tools that enable users to implement diverse trading strategies including automated trading and short selling. So, if you are a trader with a preferred game play, you can leverage the intuitive UI to build your portfolio as you wish.
Download for iOS
9. Saxo Bank
With over 71,000 financial instruments to trade, the Saxo Bank trading platform is among the best in the market for advanced traders. It offers sophisticated charting tools and unlimited customization options, research features, and automation tools, perfect for a flawless trading experience.
Additionally, the app also features Islamic accounts compliant with the Sharia law for UAE residents.
That said, while the trading platform charges low costs for traders with high value portfolios, their minimum deposit requirement of 7,350 AED (2000$) is more than what most traders can afford.
Download for Android | for iOS
10. Trading 212
Concluding our list of top 10 trading apps in UAE is Trading 212. It is a UK-based fintech company that offers commission-free trading for UAE residents. But currency-conversion rates are applied for any currency other than the Sterling.
That said, there are a range of financial instruments to trade with including the option to invest in fractional shares.
Download for Android | for iOS
With the relatively low foreign exchange fee, diversity of investments, and excellent customer support, the app is a good choice for traders who know their way around the financial markets.
FAQs
- Which is the best trading app in the UAE?
We’ve reviewed several online trading apps available for both Android and iOS to give you the list above that has the top 10 of all the best trading apps in UAE.
- Is online trading legal in the UAE?
Yes. The Dubai Financial Service Authority (DFSA) and the Securities and Commodities Authority (SCA) regulate and monitor the online trading industry.
- Can I invest in any company of my choosing?
Yes, but make sure to do your research on the company’s history and invest accordingly.
- Which brokers allow direct AED (Dirham) deposits?
eToro and Interactive Brokers allow users to directly deposit AED Dirhams without conversion fees.
- Which trading platform offers commission-free trading in the UAE?
Trading 212 is the only one on our list of top 10 trading platforms in UAE to offer commission-free trading for non-US clients.
Choose the Best Trading Platform for You
Choosing the right trading platform for your needs can be challenging. But the list helps you shortlist some of the best trading apps in UAE for your ease. Navigate through the list, but don’t forget to do your own research and choose the app that fits your experience level and trading needs.
