Stock investing has never been easier. The Internet changed the landscape and the way we conduct business. Today we have a global market and one can access it from any part of the world. Of course, people tend to have prejudices. One of the places where most of them are directed is the Middle East. You can tell by the backslash the World Cup in Qatar is receiving. That’s why we’re writing this article. For all of you, residents of the UAE, trading is possible the same way as in any part of the world.
But, you need to be careful. Not only because it’s your money is in question but also with the type of trading platforms you’re going to use. Trading stocks is quite an easy task but when you’re in the United Arab Emirates you need to know which stock brokers are regulated by DFSA authority.
So, to have everything done the right way we have compiled a list of trading platforms you can use for stock investing. This guide is going to be a simple one. Investing is easy if you have the right partners. We have researched the internet and found a few online resources that give you the right direction. You are free to seek more information if you want to expand your knowledge after reading this article.
These are the best online stock brokers for UAE investors:
eToro social trading network
Let’s start with this one. eToro is one of the best, available, and most popular online trading brokers in the world. This is why it should be your first choice as a partner in investing endeavors. So, if you’re into buying and selling stock this will be your first station. Broker is reputable being on the market for more than fifteen years. Once you access the interface of the trading app you’ll notice that it is more than user-friendly. It offers plenty of advantages the biggest ones being that it works with more than 1600 global stocks and more than 60 digital currencies. For the latter, you’ll also receive their wallet.
Furthermore, you’ll have access to gold, oil, and silver and also to buy crypto for less than a 1% fee, and BTC is included in this equation. The best part is of course the already mentioned user-friendly interface which makes eToro easy to use. On the downside, you’ll notice that there is no Metatrader 4 available and that to withdraw the money you’ll need to pay a $5 fee.
If your goal is to enter the world of trading via Forex and you’re based in UAE then Pepperstone might be your entry ticket. It offers plenty of safety and security at the highest level. Also, this CFD online broker is located in Dubai so you’ll be using a local product. The best way to start any investment adventure is by having a licensed broker by your side. With Pepperstone you’ll receive precisely that.
One downside that you’ll notice from the start is that it mostly operates with CFDs. On the bright side it is regulated by the local authorities, pairs more than 70 currencies, offers you a start with a demo account without a need for starting deposit, and it travels a little bit to the domain of FX and digital currencies.
Here, we’re talking about a popularity contest. A contest Skilling is winning in the UAE. This CFD broker is popular due to its safety and high-end regulation. If you pick this one for your investment portfolio it will allow you to enter the volatile waters of CFDs, stock indices, regular stocks, and of course the inevitable cryptocurrencies. It is characterized by low entry fees and a large number of financial instruments. You can use it on your computer, tablet, and both iOS and Android devices.
Trading has was never been easier in the United Arab Emirates than it was when Skilling was introduced. The same way as the option from above it is mostly focused on the CFDs. But, on the other hand, you have access to more than 50 digital currencies, 60 Forex pairings, and a free demo account which can help you have some practice before you start buying one of the 700 available stocks.
XTB broker is dubbed the best mobile trading app out there. The same as many from above it is regulated by DFSA. The number of shares it has access to amounts to 2500. In addition to that, you can invest in more than 150 ETFs and 56 various currency pairings.
The one thing that could turn you around is the fact that the cost of the average spread on Forex is quite pricey. But, what will attract you for sure is the fact that it’s Dubai-located, DFSA-regulated, and focused on crypto, CFDs, and other commodities with an entry fee set only at $10.
This is a younger brokerage company, but Sarwa has been operating with great success in the last five years from its headquarters in Dubai. It is also regulated by both DFSA and FSRA. Because of this, it is considered one of the safest trading platforms not only in UAE but in the world.
It comes at you seeking zero commissions on stock and ETF trading. You also have an auto-invest option which allows you to cruise through your work day if you have the entire setup in place. The interface is easy to use and all services come at reasonable fees. You do not have any reason to turn your back on this trading platform.