Best Trading Platforms in UAE For Beginners 2024 (UPDATED)
This guide is designed to help users identify the top trading platforms in the UAE for beginners. With numerous online brokers available for new traders, it can be challenging to distinguish the best ones that align with specific financial goals, needs, and trader personalities.
Conducting thorough research, comparisons, and background checks on various brokers can prevent traders and investors from choosing platforms that have complex interfaces, inconvenient trading features, high fees, and inadequate customer support.
We have evaluated 68 online brokers in the UAE to provide users with a comprehensive review, helping them find the ideal platforms for their trading requirements. Below, you'll find a curated list of the best trading platforms for beginners, accompanied by detailed reviews and comparisons to aid in making informed decisions.
Top 6 Trading Platforms for Beginners in the UAE:
Comparison of Top Brokers for Beginners in the UAE
The table below compares the key features of the highest-rated online brokers for beginners.
Leveraged and speculative products may not be suitable for all investors. Consider if you can afford the high risk of losing your money, as capital is at risk.
Best Trading Platforms in UAE for Beginners
Below, we review six online brokers featuring the top-rated trading platforms for beginners in the UAE.
1. eToro – Best Trading Platform and App in UAE for Beginners
Rating: 4,9/5
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees: 0.9 pips
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro stands out as a user-friendly trading platform that offers excellent educational resources and social/copy trading features, making it a compelling option for beginners and casual traders.
Beginners have access to a vast selection of over 5,000 financial instruments, including:
Many of these are available both as "real assets" and as CFDs. eToro provides both a web-based platform and a mobile app (Web Trader and Mobile Trader), which are intuitive and equipped with copy trading capabilities. This feature allows beginners to emulate the trades of seasoned professionals. The trading features are straightforward and include one-click trading, price alerts, and robust charting tools.
eToro also supports new traders with top-notch research tools like Tip Ranks, The Bull Club, and eToro Plus, offering insights from leading analysts and financial institutions, along with a comprehensive suite of technical indicators and dynamic charting capabilities.
Users can select from four different account types, including a beginner (retail) account that requires a low minimum deposit of $50, offers 1:5 leverage on CFDs, and grants access to all tradable assets. Beginners are encouraged to take advantage of the free demo account, which comes with $100,000 in virtual money to test trading strategies without financial risk.
Moreover, eToro provides excellent customer support 24/7 in both Arabic and English.
Pros
Cons
Key Features
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
2. AVAtrade – Best Trading Platform For Beginner Forex and CFD Traders
Rating: 4,9/5
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
71% of retail CFD accounts lose money
AvaTrade is a DFSA-regulated forex and CFD broker offering access to over 1,250 CFDs and 44 forex pairs. With a minimum deposit of just $100, users can begin trading or opt to practice with a free $100,000 demo account. The broker provides a maximum leverage ratio of 30:1 and includes negative balance protection via AVAprotect.
Users can choose from eight different trading platforms, featuring beginner-friendly tools such as DupliTrade and ZuluTrade. These platforms allow beginners to mimic the trades of more experienced traders, and they also offer easy-to-use buy/sell options and technical analysis tools including indicators, drawing tools, and an economic calendar.
AvaTrade also offers an extensive array of educational materials, including guides, ebooks, and video tutorials on CFD and forex trading.
With no commissions on CFDs and an average spread of just 0.22 during peak trading hours, AvaTrade stands out as one of the most cost-effective brokers available.
Customer support is accessible 24/7 in English and Arabic, through email, live chat, WhatsApp, and by phone. The UAE customer support number is 97-145-285-110.
Pros
Cons
Key Features
71% of retail CFD accounts lose money
3. Plus500 – Best for Mobile Trading
Rating: 4,8/5
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.8 pips
CFD Service. Regulated by the DFSA. Trading carries risk.
CFDs are intricate instruments that carry a high risk of rapid financial loss due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. It's important to understand how CFDs function and assess if you can afford the high risk of losing your money.
Founded in 2008, Plus500 is an international multi-asset broker that offers trading and investment opportunities in over 3,000 financial assets, including 66 forex pairs, stocks, ETFs, commodities, cryptocurrencies, options, futures, and CFDs on these asset classes.
The broker is renowned for its beginner-friendly and intuitively designed proprietary web-based trading platforms and apps, such as Plus500 CFD and Plus500 Invest. Plus500 allows commission-free trading of stocks and CFDs and charges a 1.00% commission on cryptocurrency trades. The spreads are low and variable, starting from 0.8 pips for EUR/USD.
Additional trading costs include competitive overnight funding rates and guaranteed order fill fees. Non-trading charges comprise currency conversion fees and a $10 monthly inactivity fee after 12 months of inactivity. Deposits and withdrawals are free.
The minimum deposit required to open a live account at Plus500 is $100 (approximately 400 AED), which is relatively low compared to other brokers. Accounts can be funded through credit or debit cards, bank wire transfers, and e-wallets such as PayPal, Neteller, and Skrill. Plus500 also offers a demo account for practice trading.
The Plus500 trading platforms cater to beginner and intermediate traders and lack advanced features like level 2 order book data, volume depth analysis, or detailed option chains.
For long-term investments, users can opt for Plus500 Invest, while self-directed trading can be done through the Plus500 CFD trading platforms and apps. The broker also offers a robust suite of research and analytical tools, along with educational resources, earning it the rating of the Best Trading Platform for Beginners by our experts.
Plus500’s customer service is accessible 24/7 in English and Arabic via email, live chat, and phone. The broker does not maintain physical offices in the UAE, does not offer broker-assisted trades, nor does it provide PAMM/MAMM accounts.
Plus500 is regulated by four top-tier financial regulators, including the CySEC, FCA, ASIC, and Dubai’s DFSA (Dubai Financial Services Authority), making it a prime choice for beginner traders and investors based in the UAE.
Refer to the table below to compare key features for beginner traders and investors among Plus500, AvaTrade, and eToro.
Pros
Cons
Key Features
There is a high risk of losing money quickly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. It's important to consider whether you fully understand how CFDs operate and if you can afford the potential risk of losing your money.
CFD Service. Regulated by the DFSA. Trading carries risk.
4. Pepperstone – Best CFD Platform
Rating: 4,9/5
Min Deposit: $0
Fees: 4.9
Assets available: 4.8
Total Fees: 0.0 pips
74-89% of retail CFD accounts lose money
Pepperstone is an Australian CFD broker established in 2010, providing access to over 180 financial instruments including forex, as well as CFDs on stocks, indices, commodities, and cryptocurrencies.
Available trading platforms at Pepperstone include:
The broker offers zero spreads on most forex pairs and charges a fixed commission of $3.50. Pepperstone is highly regarded and regulated by several top-tier financial authorities, such as the Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA), and the Australian Securities and Investments Commission (ASIC).
Pepperstone’s customer support is accessible 24/7 in both English and Arabic via email, live chat, and telephone.
Pros
Cons
Key Features
74-89% of retail CFD accounts lose money
5. Sarwa – Best Full Service Stock Broker in UAE
Rating: 4,2/5
Min Deposit: $0
Fees: 4.5
Assets available: 4.5
Total Fees:
Sarwa is a comprehensive broker based in Dubai, offering users the ability to trade and invest in over 4,000 US stocks, ETFs, mutual funds, indices, and cryptocurrencies.
Sarwa simplifies market entry for beginners by combining automated investing, self-directed trading, and financial advisory services all accessible from a single dashboard. Users can choose to have professionals manage their trades or to trade independently with guidance from a financial advisor.
Sarwa offers commission-free stock trading and competitive fees, including 0.50%–0.85% advisory fees on investment services and 0.75% spreads on cryptocurrency transactions. Additionally, users can make deposits in AED without incurring extra transaction or conversion fees.
The trading platform at Sarwa is user-friendly, equipped with basic trading tools such as buy/sell options, watchlists, and search features—ideal for novice traders. Beginners also benefit from five pre-made investment portfolios: Conventional, Halal, Socially Responsible, Conventional Crypto, and Socially Responsible Crypto, eliminating the need for extensive research.
Customer service at Sarwa is available 24/7 in English and Arabic via email, live chat, and phone. Users in the UAE can also visit Sarwa’s physical offices to consult directly with financial advisors.
Sarwa is regulated by two top-tier financial authorities in the UAE: the Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority of Abu Dhabi (FSRA), ensuring it is a secure option for traders.
Pros
Cons
Key Features
How to Find the Ideal Trading Platform in UAE for Beginners?
Here are the key criteria to consider when choosing an online broker with the perfect platform for beginners:
What Should Beginners Consider When Choosing a Broker in the UAE?
Beginners should start by defining their investment goals and selecting a broker that caters to their specific needs. For instance, someone interested in holding stocks for the long term will require a different broker than someone eager to learn day trading.
Additionally, beginners should prioritize brokers that offer robust educational resources and copy trading platforms. Learning about investing is crucial, and having access to free educational materials is highly beneficial.
Understanding the fees associated with buying, selling, and holding investments is also critical, as these costs can significantly impact profits. For example, gaining exposure to US stocks through CFDs might involve higher holding costs compared to purchasing actual stocks through a broker that offers direct market access.
Conclusion
With a variety of online brokers in the UAE, each offering different platforms and features, finding the right one for individual needs can be challenging. It requires time and expertise to evaluate and compare what different providers offer.
This guide simplifies the process by evaluating top platforms for various trading styles and investment objectives. The findings from our analysis and comparisons of the best trading platforms in the UAE for beginners are summarized in the table below.
Remember, leveraged and speculative products are not suitable for all investors. Consider whether you can afford the high risk of losing your money. Your capital is at risk.
After evaluating 105 online brokers available to users in the Middle East across nine key categories, we have identified eToro as the top trading platform for beginners in the UAE. It excels in ease of use, straightforward onboarding, excellent customer support in Arabic, and industry-leading social trading features. This broker received high marks in all these areas, making it an ideal choice for novice traders looking to enter the markets with confidence.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.