Trading platforms serve as a vital link between you and the financial market of your choice. As a result, regardless of whether you're interested in stocks, FX, commodities, or crypto currencies, you'll need to choose a free trading platform that suits your requirements.
Dhanguard is dedicated to bringing you the best trading platforms in 2022 and beyond. This includes trading platforms with the lowest costs and commissions, the widest range of asset classes, and, of course, the finest regulatory status.
6 Best Online Trading Platforms in the United Arab Emirates and Dubai
The following is a list of the finest online trading platforms and brokers in the United Arab Emirates and Dubai:
IQ Option- Best trading app in the UAE
Low spreads, a sophisticated trading platform, free demo account options, and prompt customer service distinguish IQ Option as the top online broker for option trading. It's a fantastic platform for traders searching for a feature-rich, easy-to-use platform to invest in options.
Their own online, desktop, and mobile platforms provide a pleasant trading experience. It is a simple to use and navigate platform that is appropriate for both expert and novice traders. Their platform includes a wide range of charting tools to assist traders in forecasting future market moves. IQ Option is a reputable online broker that adheres to the industry's strictest regulatory and safety standards. It is a CySEC-approved corporation with a perfect track record.
AVA Trade- The Most Valuable Offer
AVAtrade, which was founded in Dublin in 2006, offers average-to-competitive fee spreads as well as a variety of tradable currency pairs and CFDs on equities. They offer a variety of online trading platforms, each tailored to traders of varying degrees of experience and competence.
Both deposits and withdrawals are free. A $100 deposit is required. Inactivity and overnight financing are also subject to fees. Several free courses, videos, and market analyses are available on a dedicated educational and research site. Customer service is quick to respond and available by phone, email, and live chat. Ava Trade is regulated in six jurisdictions and has been available in the United Arab Emirates since 2021. They are widely recognized as the greatest online broker with a strong track record of success.
eToro- The Best Social Trading Platform
eToro is a secure online trading platform that is regulated by top financial authorities. It is well-known for its no-commission trades, feature-rich trading platform, and powerful social copy trading capabilities. Users can now mimic other traders' deals and portfolios. It's designed in the style of a forum, with a comment area that allows peers to interact.
CFDs on stocks, currencies, indices, and commodities are available through eToro. The spreads on trading are broad, deposits are free, and the account minimum is modest. There are fines for conversion and inactivity. Technical tools, charts, and newsfeeds are all available with eToro. Email and live chat are available for customer service.
When trading CFDs with this supplier, 68 percent of retail investor accounts lose money. You should think about whether you can afford to take such a significant risk with your money.
XM Trade-The Best forex Trading Platform.
For FX and CFD trading, XM.com is the top online broker. Through their comprehensive suite of MT4 and MT5 web, desktop, and mobile platforms, they provide the greatest Social Copy trading solutions. Both new and experienced traders can benefit from the XM Forex tools and accounts. They serve 1.5 million customers in 196 countries.
Depending on the account type, their minimum starting costs range from $5 to $100. Clients who want to try out XM Forex's platform can do so with a Demo account. They offer auto-trading, quick order execution, a variety of order types, and no hidden fees. Tradepedia, their research arm, offers training for people of various skill levels. XM Forex's customer support team is well rated, and they are available 24 hours a day, 7 days a week via e-mail, phone, and live chat. XM Forex Global Web-trade is a safe broker for trading forex and CFDs because it is regulated by CySEC, ASIC, and IFSC.
Pepperstone- Offers the most affordable trading fees.
Pepperstone is a reputable Forex and CFD online broker based in Melbourne. It is noted for its diverse trading platforms, low margin rates, quick account opening, and excellent trading tools. Users of Pepperstone can trade a variety of assets such as forex, CFDs, crypto currencies, indices, stocks, and commodities. For professional and active traders, Pepperstone is the greatest trading platform.
Pepperstone provides MetaTrader and cTrader with a variety of custom add-ons. They don't have their own mobile platform and instead rely on the MT4 and cTrader apps. It offers a cheap minimum deposit, excellent customer service, a superior research department, and an award-winning set of educational resources.
Saxo Bank- Best Online Broker Overall
Saxo Bank, which was founded in 1992, is a low-risk online broker that is regulated by the FCA (UK), FINMA (Switzerland), ASIC, FSC (Australia), and JFSA (Japan) (Japan). Saxo Bank is the best FX and CFD trading platform, with a user-friendly SaxoTraderGO platform, competitive margin rates, and over 40,000 trading instruments. Overall, the user experience is excellent. The initial deposit is $10,000.(GBP 500 for the UK, SGD 500 for Singapore).
Saxo Bank offers a one-of-a-kind platform as well as affordable pricing. They offer an amazing research experience by combining high-quality in-house research with top-tier third-party sources. The quality of their client service is exceptional. Citizens of the UAE can use an Islamic account to trade in accordance with Sharia law. Support is provided in Arabic via email or in person at the local offices.
What Is a Trading Platform?
A trading platform is a set of software that allows investors to use financial brokers to place, cancel, and monitor deals. Users can pick between PC trading platforms, mobile trading apps, web-based trading platforms, and custom-built in-house trading platforms.
How to Begin Online Trading in the United Arab Emirates and Dubai?
Find a regulated online broker, register a trading account, deposit money, and acquire tradable assets to trade online in the UAE and Dubai.
When trading listed securities on the Dubai Financial Market, investors must register for a NIN investor number. As a result, they are able to trade on the ADX and DFM markets. They must find a broker from either exchange after receiving a NIN number. In the United Arab Emirates, securities transactions are settled in AED. Trading in the United Arab Emirates is quick, easy, and conducted in English.
Some Things to Consider About Before You Begin Trading!
Before you begin trading, you must conduct research to ensure that you have chosen the right broker.
Even if brokers provide identical goods, it's important to understand that if you open the same trade with the same amount of money with other brokers, you won't make the same gains or losses.
- You can save a lot of money on fees and spreads if you choose the correct broker.
- Leverage refers to the use of borrowed cash to allow traders to trade in a position that is larger than their initial investment. Leverage, on the other hand, may be a double-edged sword because it can be used in both positive and harmful ways. Always get expert guidance before employing 'LEVERAGE' in a trade if you are unsure
- You do not own the currency when you trade it, whether it is for currencies, commodities, or equities. Your order is recorded by the broker, who then assigns profit and loss to your transaction based on how the current rate changes.
How Did We Select The Most Appropriate Platforms For UAE Users?
With actual accounts and money, we evaluate trading platforms. Regulation, safety, fee structure, available markets, trading tools, and customer service are some of the most important factors to consider while making a decision.
Brokers with top-tier licenses must adhere to tight criteria imposed by a reputable regulator and provide secure platforms. We advise UAE residents to use platforms that are licensed by the FCA, CySEC, and ASIC.
A clear charge structure contributes to a positive trading experience. Some trading platforms feature easy-to-understand fee structures, while others don't. Fees such as commissions and spreads are frequent on UAE trading platforms. Depending on your trading activity, spreads range from 0.03 percent to 0.5 percent. In Dubai, we recommend using a zero-commission trading platform.
Withdrawal and Deposit
Withdrawing and depositing monies should be straightforward. Many payment options are available on leading trading platforms in the UAE. PayPal, Skrill, and bank transfers are available to traders. It's worth noting that certain funding choices have costs associated with them.
There are several sorts of accounts available on each site. A minimum deposit charge is requested by some services. Others will not require a minimum deposit in order to start new accounts. Remember that while a demo account isn't required, it is beneficial. These accounts let traders to try out a trading platform's features.
Market and Product Coverage
Each platform covers a different market and currency. Trading platforms provide a wide range of services. Forex, stock, index, commodity, and crypto currency trading are all available to UAE residents. Choose a trading platform based on your trading experience and needs.
Trading platforms should be user-friendly, provide access to trading tools and indicators, and be appropriate for traders of all levels. We recommend going with a platform that has a technical charting interface and market data built in. A thorough market news feed is required, as access to advanced features.
Apps for Mobile Devices
A mobile trading app is a must-have. Traders in the United Arab Emirates require access to a mobile trading platform in order to track and improve their tactics while on the road. A trading platform's mobile version should have all of the same capabilities as the web version. Look for social feeds and full-screen graphing possibilities.
Your online trading success hinges on your ability to provide excellent customer service. Platforms on our best-of list provide support 24 hours a day, seven days a week. It's ideal to choose with a company that offers live chat, email, and phone assistance.
The Central Bank of the United Arab Emirates regulates online trading in the UAE, and Dubai is also governed by the Dubai Financial Services Authority (DFSA). The UAE government is enacting legislation and tax arrangements to make the UAE and Dubai more appealing to online trading, investment, and crypto currency firms.
For more information regarding the Trading Platforms in Dubai contact to Dhanguard we will gladly assist you in every aspect.