10 Best Platforms for Trading In UAE

Trading in the UAE can feel complex, especially with all the options for best-funded trading accounts. Whether you're a beginner or  seasoned trader, navigating the trading world can be overwhelming. This guide will help uncover opportunities to trade with a funded account efficiently. By the end, you'll feel more confident in your trading journey.

AquaFunded’s funded trading program can be your next step. This program, designed for traders of all levels, offers the support and resources you need to trade efficiently and successfully.

Can I Do Trading In UAE?

Yes, you can trade in the UAE. The Dubai Financial Market (DFM) and Nasdaq Dubai are the primary platforms where you can trade stocks, securities, and shariah-compliant instruments like Sukuk and bonds. The DFM mainly lists UAE-based companies that offer local trading opportunities. Meanwhile, Nasdaq Dubai serves as a global exchange, allowing for trading in both local and international financial instruments.

Key Stock Indices in Dubai

In Dubai, companies listed on the DFM are included in three essential stock indices. The DFM General Index is a collection of indices that depict the performance of the UAE stock market. Only shariah-compliant companies from DFM S&P/Hawkamah are included in the DFM Shariah Index (DFMSI). The UAE ESG Index (UAEESGI) includes top-performing, sustainable businesses.

Basic Requirements for Trading Stocks in Dubai

All you need to start trading stocks in Dubai is a National Investor Number (NIN) and a broker account listed on the DFM. The DFM and Nasdaq Dubai exchanges provide domestic and foreign equities access. Additionally, requesting an NIN through the Dubai Financial Market is very simple; you only need to complete an investor number request form and submit identification documents. Once the DFM approves your investor number request form, you will receive your NIN. The Nasdaq Dubai market and the DFM will continue to accept your NIN.

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Do You Need A License to Trade In UAE?

If you’re trading financial instruments like stocks or forex, you must use a licensed broker in the UAE. These brokers are regulated by the Securities and Commodities Authority (SCA) or other relevant bodies. You don't need a personal license to trade through one of these regulated brokers as an individual trader. This setup helps maintain the integrity of the financial markets and ensures that traders operate within a secure framework.

What About Trading Physical Goods? You'll Need a License

A trade license is necessary for those venturing into commercial trading, such as dealing with physical goods. This applies to activities like wholesale, imports, and exports. The Department of Economic Development (DED) in the emirate you plan to operate issues these licenses. Alternatively, you can establish your business in one of the UAE’s Free Zones, which offer specific trade licenses for various activities. This allows for a more streamlined trading experience, especially if you’re looking to focus on particular sectors.

Ready to boost your trading game? AquaFunded, a Dubai-based funded trading program, lets you trade with large capital accounts and enjoy up to 95% profit splits. You're set for success with an easy-to-reach 8% profit target and quick payouts. Get started with AquaFunded's funded trading program today!

Is Trading Legal In UAE?

Yes, trading is legal in the UAE. The Dubai Central Securities Depository (Dubai CSD) welcomes investors from all nationalities, allowing them to trade DFM and Nasdaq Dubai-listed securities. Individuals or institutions must obtain an Investor Number (NIN) with Dubai CSD to trade. Ready to dive in? Let’s explore the regulatory framework that keeps things running smoothly in the UAE's trading scene.

Meet the Regulators

The Central Bank of the UAE (CBUAE)

Established in 1980, the Central Bank of the UAE (CBUAE) is the linchpin of the country's monetary policy and banking oversight. Its main functions include setting monetary policy, regulating currency, and supervising regional banks. By managing the money supply and imposing sanctions where necessary, the CBUAE ensures economic stability.

Securities and Commodities Authority (SCA)

The Securities and Commodities Authority (SCA), established in 2000, oversees non-banking financial institutions and markets like the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX). It ensures market efficiency by eliminating deceptive practices and supervises financial products, including cryptocurrencies. However, the SCA doesn’t regulate activities in free zones like DIFC and ADGM.

Dubai Financial Services Authority (DFSA)

Operating independently since 2004, the Dubai Financial Services Authority (DFSA) is the watchdog for financial activities in the Dubai International Financial Centre (DIFC). It handles everything from forex trading to market monitoring, maintaining transparency and fairness. The DFSA operates under its legal system, separate from the UAE’s federal framework.

Financial Services Regulatory Authority (FSRA)

The Financial Services Regulatory Authority (FSRA) governs the Abu Dhabi Global Market (ADGM) free zone. It creates and oversees legal frameworks for non-banking financial services, including asset management and fintech. The FSRA also has a judicial system distinct from federal and Abu Dhabi courts.

How To Trade In UAE Easily

Secure Your Investor Number in Dubai

Your first step to trading in the UAE involves obtaining a National Investor Number (NIN). This is your unique identifier and a regulatory must-do. Thankfully, you have three straightforward methods to get your NIN.

1. Swift and Simple: Use the DFM App

The Dubai Financial Market (DFM) app is your fast track. Upload a scan of your Emirates ID, snap a selfie, and you’re ready. The process is quick—often just three minutes—and you’ll receive your NIN via SMS. You’ll also need to decide if you want dividends paid to your bank account or an iVestor card.

2. In-Person Approach: Visit Dubai CSD

Do you prefer the traditional route? Head to Dubai CSD Investor Affairs Help Desk at the Dubai World Trade Centre. You can fill out either a paper or electronic application form. Once processed, your NIN will be sent to you by SMS.

3. Broker-Assisted: Let a Broker Do It

They can handle the NIN application if you have already worked with a broker. Just ensure they’re listed as an authorized brokerage firm with the DFM.

Partnering with the Right Broker

Now that you have your NIN, you can open a trading account. Choosing the right broker is crucial, so do your homework.

Things to Consider When Picking a Broker

• Service Variety: Brokers offer various services, such as equities, margin, and online trading. Some even provide advanced options like direct market access and derivative trading. Choose what fits your needs.
• Tech Savvy: An excellent online platform with real-time data is essential, especially if you want to trade independently.
• Fee Structure: Understand the fees involved. These can range from transaction costs to account maintenance charges. Check their websites for specifics.

Start Trading in Dubai

With your account open, you’re ready to trade. Use the DFM app or e-services portal for real-time updates, including pricing for DFM and Nasdaq Dubai listings.

Trading Options Available to You

• Equities: There are 116 stocks to choose from. The DFM website offers detailed market profiles to help you make informed decisions.
• Derivatives: Futures offer portfolio diversification and protection against price swings for seasoned investors. DFM collaborates with brokers and market makers to provide these options.
• ETFs: Exchange-traded funds let you trade commodities and other assets. They offer low management fees and high liquidity.
• Bonds and Sukuk: These are safer options if you’re looking for steady returns. Currently, DFM lists 175 Sukuk and 97 conventional bonds.

Monitor Your Portfolio

You now know how to buy and sell stocks and other investments in Dubai. The next task is to monitor your portfolio.

10 Best Platforms for Trading In UAE

1. AquaFunded: Dubai-Based Trading Platform for All Levels

AquaFunded is a Dubai-based funded trading program that allows traders to access large capital accounts and earn up to 95% profit splits. The company provides a unique funding model with easy-to-achieve 8% profit targets and fast bi-weekly payouts, with an option for the first payout in just 7 days. 

AquaFunded caters to traders of all experience levels, from beginners to those with a few years of experience, who want to trade with reduced risk using the firm's capital instead of their own. With its competitive features and UAE-based operations, AquaFunded aims to stand out in the crowded prop trading market and provide a trustworthy platform for traders looking to scale their profits. Get started with AquaFunded's funded trading program today!

2. eToro: Commission-Free Trading With Social Trading Capabilities

eToro has earned its reputation as a trailblazer in online trading thanks to its commitment to commission-free investing and innovative social trading capabilities. Catering to traders of all levels, eToro allows users to connect, learn, and trade smoothly on a single platform. 

Pros

• Easy-to-use trading platform
• A broad range of educational materials and research tools
• Excellent social trading services for all kinds of traders

Cons

• Some research tools are only available to VIP members
• The platform lacks features for professional traders, such as advanced order types and MetaTrader 4 and 5 compatibility
•  Relatively high fees on crypto trades (1%) compared to other brokers

3. IBKR Mobile: Multinational Trading Platform

Regarded as the premier trading platform in the UAE, Interactive Brokers boasts a comprehensive suite of features tailored to meet the needs of novice and seasoned traders alike. With its user-friendly interface and robust functionality, Interactive Brokers sets the standard for online trading excellence. This trading app is a multinational brokerage that was established in 1978. 

Compared to other trading alternatives, Interactive Brokers has the biggest and best collection of different assets, with approximately 150,000 financial instruments across 135+ markets. It charges low fees and 0% commission on stocks and EFTS. Investors greatly benefit from this trading platform as it pays high interest on cash balances, like 5% on AED. Interactive Brokers is an excellent platform for intermediate investors and caters perfectly to the varying needs of professional and advanced investors.

Pros

• Commission-free stock, options, and ETF trades.
• Large investment selection.
• Vital research and tools.
• Over 19,000 no-transaction-fee mutual funds.
• High-order execution quality.

Cons

• A high minimum is required to earn interest on uninvested cash.
• The website can be challenging to navigate.

4. Saxo Bank: Global Financial Markets Access

Next, we have Saxo Bank, which offers UAE investors access to global financial markets.   Products supported on its platform include stocks, ETFs, forex, bonds, and commodities. The platform's international reach is particularly advantageous for Italian traders aiming to expand their investment horizons beyond local markets.  With access to crucial financial exchanges worldwide, including those in New York, London, Tokyo, and many others, Saxo Bank enables traders to engage with many asset classes across international borders.  

This broad market access allows Italian investors to take positions in global trends and diversify their portfolios on an unprecedented scale. Notably, Saxo Bank offers various sophisticated trading platforms, SaxoTraderGO and SaxoTraderPRO, which combine user-friendly interfaces with comprehensive analytical tools, real-time data, and insightful market research.  These platforms are designed to accommodate both new traders seeking simplicity and seasoned investors needing in-depth analysis tools, making it easier for Italians to navigate the complexities of global markets confidently.

Pros

• Great trading platform
• Outstanding research
• Broad product portfolio
• Interest paid on uninvested cash

Cons

• High options and futures fees
• Custody fee charged
• No 24/7 customer service

5. XTB Online Trading: Cost-Effective Solution for Traders

Known for its competitive fees and expansive CFD and Forex trading offerings, XTB stands out as a trusted choice among traders seeking cost-effective solutions without compromising quality. With XTB, traders can confidently access various markets and instruments. XTB has offices in more than 13 countries, including but not limited to Spain, the UK, France, Poland, and Germany. 

This trading platform outperforms any other platform because of its excellent performance. As a UAE trading app, XTB has a tremendous interactive user interface, engaging visuals, and ease of navigation that help investors use the app efficiently. XTB was also nominated for the top-rated Forex and CFD Broker in the Wealth and Finance International Awards 2018.

Pros

• Commission-free stocks and ETFs (for trades up to €100k per month)
• Free and fast deposit and withdrawal
• Easy and fast account opening
• High interest paid on cash

Cons

• Inactivity fee charged
• High conversion fee

6. IG: Transparent Pricing Structure with Global Access

IG is a renowned global player in the online brokerage space. Its presence in the UAE offers local investors access to over 17,000 markets, including shares, indices, forex, and commodities. One of IG's standout features is its comprehensive trading and research tools, designed to suit both new and experienced traders.  The platform offers a variety of educational resources, webinars, and seminars to support traders on their investment journey. 

IG is recognized for its transparent pricing structure, which includes competitive spreads and low commission on share CFDs.  The platform's technology is geared towards providing a smooth trading experience, with a robust mobile app that allows traders to manage their portfolios on the go.  Furthermore, IG's regulatory status across multiple jurisdictions underscores its commitment to client security and best practice standards in financial services.

Pros

• First-class web trading platform
• Superb educational tools
• Significant deposit and withdrawal options

Cons

• High stock CFD fees
• Limited product portfolio
• Slow customer support

7. Plus500 Trading: User-Friendly CFD Trading Platform

Tailored for enthusiasts of CFD trading, Plus500 combines simplicity with sophistication to deliver a smooth trading experience. Whether you’re a seasoned trader or just starting, Plus500 offers intuitive tools and a user-friendly interface to help you easily navigate the complexities of CFD trading. 

Plus500 offers risk management tools such as take-profit orders and stop-loss that help traders have firm control over their potential profits and losses. This trading platform also allows new traders to make demo accounts with virtual funds, preventing them from investing real money without knowing the market.

Pros

• Well-designed platform
• Great account opening
• Quick and helpful customer support

Cons

• High CFD fees
• High currency conversion fee

8. Swissquote: Comprehensive Financial Services

Swissquote is a prominent Swiss online brokerage and banking service provider known for its comprehensive range of financial services and robust platform. It offers access to a wide array of investment options, including stocks, ETFs, funds, bonds, options, futures, and cryptocurrencies, across numerous international markets. Swissquote's advanced trading platform caters to novice and experienced investors, providing a smooth trading experience with powerful research tools and market insights. 

Swissquote charges competitive fees for its services. While its trading commissions are generally higher than some low-cost brokers, the costs are justified by the quality and breadth of services offered. There are no hidden fees, and the platform provides transparency in its pricing structure. For UAE-based investors, Swissquote stands out due to its local presence and regulatory compliance. 

It is regulated by the Swiss Financial Market Supervisory Authority (FINMA), ensuring high security and adherence to Swiss banking standards. Additionally, Swissquote offers excellent customer support and educational resources, making it an ideal choice for investors seeking a reliable and well-regulated broker with a strong local presence and extensive market access.

Pros

• Access to many markets and products
• No inactivity fee
• Rock-solid background

Cons

• High trading fees
• Confusing trading platform selection
• Some research tools are not free

9. Sarwa: Simplified Trading Experience

Crafted with beginners in mind, Sarwa is dedicated to simplifying the trading experience with its intuitive interface and auto-investment options. Ideal for those new to trading, Sarwa allows users to start their investment journey with ease, offering guidance and support every step of the way.

Pros

• Low fees: relatively low fees, especially compared with UAE local banks
• Accessible: online platform, no need to visit a local branch. You can start with tiny investment amounts, and the onboarding is easy
• Diversification: offers diversified portfolios across different asset classes, using modern portfolio theories to maximize risk-adjusted returns
• Transparent: Sarwa is transparent about the fees, performance, and investment strategy
• Referral Bonus: New users get a $50 referral bonus.

Cons

• Limited investment options: this may be a disadvantage for investors looking for more  specialized or niche investment solutions, like options trading
• Limited customization: they offer some additional features (crypto, halal, SRI), but this might be limited for those with other investment objectives
• Limited human interaction: Sarwa is fully automated, although their customer service is excellent, and you have occasional access to their advisors

10. AvaTrade: Beginner-Friendly Trading Platform

AvaTrade is a DFSA-regulated forex and CFD broker that provides users access to over 1,250 CFDs and 44 forex pairs. Users can start trading with as low as $100 or practice with a free $100,000 funded demo trading account. The maximum leverage ratio at AvaTrade is 30:1 and offers negative balance protection through AVAprotect. AvaTrade users can access 8 different trading platforms and beginner-friendly add-ons, including DupliTrade and ZuluTrade. Those allow beginners to copy trades from advanced traders instead of investing independently. 

They also feature beginner-friendly buy/sell options and technical analysis tools such as indicators, drawing tools, and an economic calendar. Beginners can access extensive educational resources, including guides, Ebooks, and CFD and forex trading video tutorials. With no commissions charged on CFDs and an average spread during peak trading hours of only 0,22, AvaTrade is one of the cheapest brokers to trade with. AvaTrade’s customer service is available 24/7 in English and Arabic via email, live chat, WhatsApp, and phone. The UAE customer support number is 97-145-285-110.

Pros

• Beginner-friendly trading platform
• Up to 30:1 leverage, low spreads, no commissions, and instant order execution
• A broad range of educational materials and research tools

Cons

• Not all educational material is aimed at beginners
• Only offers CFD trading
• Charges inactivity fees of $50 after three months of inactivity and $100 administration fee after 1 year of inactivity

Benefits of Trading In UAE

Booming Economy

Dubai’s economy thrives on a robust trading ecosystem supported by government initiatives. Authorities recognize that trade is essential for economic upliftment and diversification, so they foster an appealing environment for businesses.

Favorable Trade Rules

Dubai's appealing trade policies fuel economic growth. The city and other Emirates offer liberal trade regimes, enhanced market access via multilateral and bilateral agreements, and regional trade accords. Tax advantages, no import/export duties, exchange controls, and limited trade barriers attract traders to shop in Dubai.

Attractive Tax Benefits

Dubai offers tax perks, including international partnerships and double taxation agreements to reduce importers' and exporters' liabilities. The government encourages trade by crafting beneficial tax schemes. Free trade zones provide additional incentives, such as tax and duty exemptions.

Open Trade Relations

Dubai's free trade policy allows companies to establish open trade relations without discrimination. Traders can freely buy or sell from different economies without governmental quotas, charges, or subsidies.

Diverse Trading Opportunities

A recent report highlights strategies to boost direct foreign investment, especially in the trading sector. Plans include expanding beyond free zones and energy sectors, offering non-bank and capital market financing options for SME trading companies, and promoting private sector growth and diversification.

Profitable Commercial Laws

Dubai’s trading environment benefits from commercial laws like the Unified Economic Agreement 1981, which created a free trade area between GCC states. The UAE is also part of the Greater Arab Free Trade Area, which eliminated customs tariffs among member states.

Relaxed Visa Regulations

The UAE is a welcoming nation with a diverse population. Recent visa reforms include relaxed requirements and perks for investors and a 10-year visa for skilled workers and investors. These changes boost confidence among businesses and investors in the UAE market.

AquaFunded's funded trading program allows you to access large capital accounts and earn up to 95% profit splits. It offers an innovative funding model with easy profit targets and rapid payouts, making it ideal for traders of all experience levels.

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Join Our Funded Trading Program Today - Trade with our Capital and Keep 90% of the Profit.

Are you looking to trade in the UAE? AquaFunded is making waves. This Dubai-based funded trading program allows traders to access large capital accounts. The standout feature? Traders can earn up to 95% profit splits. With easy-to-reach 8% profit targets and fast bi-weekly payouts, AquaFunded is designed for traders at all levels. Whether you’re a beginner or more experienced, the program provides a trustworthy platform to trade with reduced risk using the firm’s capital. The best part? You can even opt for your first payout in just 7 days. AquaFunded aims to stand out in the crowded prop trading market, offering a unique funding model and competitive features.

Trade Profitably with AquaFunded's Bi-Weekly Payouts

In the fast-paced world of trading, getting your hard-earned profits quickly is vital. AquaFunded understands this and offers bi-weekly payouts to its traders. Not only that, but you also have the option to receive your first payout in just 7 days. This game-changer is for traders who want their profits to materialize quickly and efficiently. With AquaFunded, you can trade profitably and get paid promptly.

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