Day traders in the UAE have unique needs, and low or no commission is not enough of a selling point for them.
They want platforms with AED funding, local regulation, minimal total trading fees, low minimum deposit, halal options, multi-asset access, and research tools.
Thankfully, though their demands are high, they are still spoilt for options, as many trading platforms meet these needs and more. In what follows, we’ll review 8 of the best day trading platforms that day traders can explore in the UAE.
-
Sarwa: Best UAE-based platform
Sarwa is a UAE-based platform that was created to meet the unique needs of UAE traders.
It is an all-in-one platform where users can day trade stocks, stock options, ETFs, and cryptocurrencies.
Sarwa is regulated by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Markets (ADGM).
Key advantages
- AED funding: Users can deposit in AED and convert to USD with no currency conversion fee.
- Simple interface: The Sarwa app has a simple and user-friendly interface that makes it appropriate for new traders.
- Multiple order types: Users can create market, limit, and stop orders. This helps them execute trades at precise entry and exit points.
- Educational resources: Sarwa’s blog contains many resources that will help traders improve their skills. Articles range from how to trade stocks in the UAE to how to conduct stock market fundamental and technical analysis.
- Limited fees: Sarwa charges low commissions and spreads (for cryptos). It does not charge account inactivity, currency conversion, or custodian fees.
- Halal screener: Halal stock traders can use Sarwa’s screener to identify stocks that meet halal investing standards.
Ideal user
Sarwa is ideal for new traders who want a simple and easy-to-use platform.
-
Interactive Brokers: Best for advanced technical analysis
Interactive Brokers (IBKR) is a global trading platform that is licensed and regulated in the UAE by the Dubai Financial Services Authority (DFSA). It offers access to stocks, ETFs, bonds, currencies, cryptocurrencies, and futures from more than 90 market centres.
Key advantages
- Multi-asset access: Day traders have access to many asset classes across global markets.
- Advanced charting tools: IBKR’s Trader Workstation is one of the most popular advanced trading platforms for professional and retail traders.
- Low minimum deposit: There is no minimum account balance requirement.
- AED funding: Users can fund their account in AED.
Ideal user
IBKR is ideal for advanced traders who can comfortably use advanced trading tools.
-
Saxo Bank: Best for premium trading tools
Saxo Bank is a global trading platform that is licensed to operate in the UAE by the DFSA. It offers access to stocks, ETFs, bonds, commodities, currencies, and futures across 50 global exchanges.
Key advantages
- AED funding: UAE traders can make direct deposits in AED.
- Premium trading tools: Users gain access to premium charting, technical analysis, and research tools.
- Global multi-asset access: Saxo Bank offers multiple asset classes across global markets.
- No minimum trading balance: Users can get started with low capital
Ideal user
Saxo Bank is ideal for advanced traders
-
eToro: Best for social trading
eToro is a global trading platform popular for its free commission stock trading and its copy trading feature. It offers stocks, ETFs, cryptocurrencies, commodities, and CFDs, and is licensed in the UAE by the FSRA.
Key advantages
- Social trading: New users can copy the trades of experienced traders.
- Simple interface: eToro has a clean interface that is easy to use for beginners.
- Low minimum deposit: Users can start trading with a minimum deposit amount of $50.
Ideal user
eToro is ideal for traders who want to copy others’ trades.
-
IG Markets: Best for CFD trading
IG Markets is a global trading platform regulated in the UAE by the DFSA. It offers access to CFDs on stocks, indices, forex, currencies, and cryptocurrencies.
Key advantages
- Educational resources: IG Markets has a large library of educational resources that can help users become better traders.
- Advanced trading platforms: IG Markets offer their proprietary trading platform as well as MetaTrader and TradingView integration.
- No minimum account balance: Users don’t need a minimum deposit amount to get started.
- Fee rebates: High-volume traders enjoy lower fees.
Ideal user
IG Markets is ideal for CFD traders.
-
Plus500: Best for beginner CFD traders
Plus500 is a global CFD trading platform regulated in the UAE by the DFSA. It offers access to CFDs on forex, indices, commodities, stocks, and cryptocurrencies.
Key advantages
- Beginner-friendly platform: The Plus500 platform is simple and easy to use for beginners.
- Fast execution and low spreads: The platform also provides fast order execution, which helps to minimize its spreads.
- Wide CFD market coverage: Plus500 provides CFDs on various asset classes.
Ideal user
Plus500 is ideal for new CFD traders who want a simple trading platform.
-
Pepperstone: Best for forex trading
Pepperstone is a global trading platform that is regulated in the UAE by the DFSA.
It offers access to CFDs on forex, indices, commodities, stocks, and ETFs, among others.
Pepperstone is regulated in the UAE by the DFSA.
Key advantages
- Fast execution and competitive spreads: They execute trades quickly, resulting in low spreads.
- Multiple trading platforms: Users gain access to popular trading platforms like MetaTrader 4, MetaTrader 5, TradingView, and cTrader.
- Islamic accounts: There are swap-free accounts for Sharia-compliant trading.
Ideal user
Pepperstone is ideal for forex traders.
-
XTB: Best for fast onboarding
XTB is a global trading platform licensed to operate in the UAE by the DFSA. It provides access to stocks, ETFs, and CFDs.
Key advantages
- No minimum account requirement: Traders can get started with whatever they have.
- AED funding: UAE day traders can deposit funds in AED.
- Islamic accounts: There are swap-free accounts for halal traders.
- User-friendly platforms: Its proprietary trading platforms are easy to use for beginners.
Ideal user
XTB is ideal for cost-conscious new traders.
