14 Best Trading Apps in UAE 2024 | Online Trading Platforms (2024)

There’s no doubt in the fact that there has been a rapid adoption of online trading in the Middle East. According to a report, the UAE witnessed a 500% increase in the global crypto market from July 2020 to 2021.

In fact, the stock market increased by 14.71% at the beginning of 2022. And now that we’ve entered 2023, the total transaction value in the Digital Investment segment is expected to reach US$15.93bn in 2023.

This rise in online trading services indicates that people in UAE and beyond are taking more interest online trading and investing. For the same reason, they must be aware of the best online trading app in UAE. These online trading platforms offer a wide variety of trading accounts including, FX trading, CFD trading, crypto, etfs, etc.

However, with ample trading apps available, it can get challenging to select the right one based on your trading requirements. But worry not! This blog will walk you through the list of the best trading apps in UAE, covering their features, fees, and user-friendliness to help investors make informed decisions. But before that, let’s look at how online trading started in the UAE.

How Online Trading Started in the UAE?

Online trading in the UAE has its roots in the global financial sector, which witnessed the introduction of portfolio management and trading tools by Charles Schwab in 1984. But the game moved a level up when the financial services firm introduced the industry’s first DOS-based portfolio management and trading tool.

It was followed by TeleBroker, the first telephone-based phone keypad trading application in 1989. Online trading is one of the best ways to earn money online in UAE.

Soon, internet-based trading emerged as a new and disruptive force in the financial sector with the launch of ETrade in 1992. The pioneering online brokerage service provider, later adopted a direct-to-consumer strategy, allowing the investors to trade stocks and other securities online.

This dodged the need for a physical broker’s office, inspiring other companies to follow suit and adopt online trading platforms across the globe, including in the UAE.

List of 8 Best Online Trading Apps in UAE

1. eToro:Best Trading App for Beginners


eToro is one of the top rated and the best online trading app in UAE, offering various features and tools that make trading and investing in a wide variety of markets hassle-free. The app’s user-friendly copy-trading platform allows users to copy the trades of seasoned traders, providing a convenient and effective way to learn from experienced investors.

With its robust platform, commission-free trades, and powerful social and copy trading features, eToro has earned a reputation as the best app for stock trading in UAE.

Best For: ETFs, Crypto, and Stocks
Recommended For: Beginners and Average Traders
Cost: $0 commissions on stocks and ETFs

2. AVATrade: Best for Forex Trading in the UAE


AvaTrade is a highly-rated, top trading app in UAE, an excellent choice for Forex traders. Both its trading platform and mobile app are intuitive and easy to use, making it convenient for investors to access the markets and execute trades.

One of the advantages of AvaTrade is that it is a reliable low-fee CFD broker offering a wide variety of markets, including Forex, Crypto, Stocks, Commodities, Indices, and more.

Best For: Forex trading, CFDs, and Options
Recommended For: Casual, Advanced, and Algorithmic Traders
Trading Cost: Average

3. Pepperstone: Best CFD Trading Platform



Pepperstone is another well-regarded, top trading app in UAE, regulated by the Australian Securities and Investments Commission (ASIC), Financial Conduct Authority (FCA), and Dubai Financial Services Authority (DFSA). Also, it is well known for its quick account opening process and diverse range of social copy trading platforms.

Best For: Forex trading and CFD
Recommended For: Average and experienced traders
Trading Cost: Low

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4. IQ Option: Best Trading App for Beginners


IQ Option is the best trading platform in UAE and an excellent choice for traders looking for a user-friendly and feature-rich platform to invest in options. The broker stands out for its low spreads, free demo accounts, advanced trading interface, and prompt customer service.

IQ Option also adheres to the industry’s strictest regulatory and safety standards, being approved by CySEC, making it a safe and reliable option for traders.

Best For: CFD, Forex, and Crypto
Recommended For: Beginners to advanced traders
Trading Cost: Low

5. Interactive Brokers: Best Online Trading Platform in UAE


Interactive Brokers is another best trading app in Dubai, an excellent choice for UAE traders due to its broad range of tradable markets and low fees. With over 87,000 stocks as CFDs, they offer the largest selection of tradable shares on their platform.

Also, Interactive Brokers is regulated by top-tier authorities, including the Dubai Financial Services Authority (DFSA), and has a strong reputation for professional and mobile trading.

Best For: Trade Stocks, ETFs, and Options
Recommended For: Professional and advanced traders
Trading Cost: Low

6. Saxo Banks: Online Trading Platform UAE



Saxo Bank is a Denmark-based online trading platform with subsidiaries operating in different regions, including the UAE. While services and fees may vary slightly between entities, Saxo Bank is known for its popular platform and competitive fees. With an average commission of $10 for a $2,000 trade, Saxo Bank offers a reasonable cost for trading US and UK stocks.

Best For: Trade Stocks, ETFs, and CFDs
Recommended For: beginner to advanced traders
Trading Cost: Low

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7. OKX: Best Crypto Trading App



OKX is a reputable cryptocurrency and derivatives exchange platform and best trading app in UAE that has gained recognition in the country due to its wide range of tradable cryptocurrencies, crypto 2.0 products, and user-friendly interface. With over 340 cryptocurrencies available for trading, OKX provides access to the most popular digital assets and more niche and emerging tokens.

Best For: NFT, Cryptocurrency
Recommended For: Beginners to advanced traders
Trading Cost: Low

8. Olymp Trade: Best for Forex and Options Trading


Olymp Trade is a rapidly growing online options trading provider, expanding its offerings to include forex trading. With over 25 million user accounts and a monthly turnover of $150 million, it is a popular choice for traders in the UAEand beyond. The user-friendly platform offers a brief interactive tutorial to help users understand the fundamentals of investing in stocks and commodities.

Best For: Forex and options trading
Recommended For: Starter, advanced and expert traders
Trading Cost: Average

Best Crypto Trading Apps in UAE

Crypto Trading App	Rating	Best For	Features
Huobi Global	4.8/5	Safety and Security	Touch ID login, two-factor authentication, 20K BTC security reserve fund Access to 450 different cryptos Up to 50% APY with Huboi 200:1 maximum leverage
Binance	4.8/5	Assets Availability	1629 tradable cryptos Deepest liquidity in the industry Very competitive trading fees Multiple passive income options Integrated NFT trading platform
ByBit	4.4/5	Mobile Crypto Trading	Over 30 different payment methods Excellent customer support Low trading fees Access to NFTs, ICOs

9. Huobi Global: Best for Secure Exchange



Huobi Global is a highly secure, reliable, and the best trading platform in UAE. Huobi is renowned for its state-of-the-art distributing system architecture, which ensures the safety of user assets through multi-signature cold storage wallets.

This is the best crypto trading platform in UAE that also offers opportunities to earn high-yield savings through its Huobi Earn feature, which includes crypto staking, yield farming, and crypto lending.

Recommended For: Casual to advanced traders
Trading Cost: Competitive trading fee

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10. Binance: Best for Assets Availability



Binance, the most popular, most extensive, and best app for cryptocurrency trading in UAE, offers users a spot trading volume of 490,000.00 (for BTC). With over 600 different cryptocurrencies and other financial instruments, including crypto futures, options, derivatives, and NFTs, users can trade with up to 125 x leverage.

The platform’s deep liquidity guarantees users fast and dependable trade execution, even on high-volume trades and across all cryptocurrencies.

Recommended For: Casual to advanced traders
Trading Cost: Competitive trading fee (0.08-0.10% maker/taker fee)

11. ByBit: Best Crypto Trading App in UAE


ByBit is a crypto trading app founded in 2018 that specializes in derivatives trading. It allows users to trade with up to 100:1 leverage on a wide range of trading pairs, such as BTC/USDT and XRP/USD. The platform features an intuitively designed mobile app, various order types, including market, limit, stop loss, and advanced and fast trade execution at a rate of 100,000 transactions per second.

Recommended For: Casual to advanced traders
Trading Cost: Low trading fee

Best Forex Trading Apps in the UAE

Forex Trading App	Rating	Best For	Features
Evest	4.2/5	Tight Spreads	No commissions on forex trading Trading academy for beginners to access No deposit fees
Libertex	4/5	Zero Spreads	Access to MT4 and MT5 over 50+ forex pairs trading signals and ideas
Forex.com	4.2/5	Technical Analysis	Support CFDs and DMAs Free demo account Supports MT4 and MT5

12. Evest: Top Forex Broker Offering Tight Spreads



Evest is the best forex trading app in UAE that allows investors to trade 29 forex pairs, making it a top choice for forex trading in the UAE. In addition to forex trading, Evest provides access to global stocks and indices. Setting up an account with Evest is quick and easy, and users can access over 100 financial markets.

FX Pairs: 29

13. Libertex: Best Known for Zero Spreads



Libertex is a well-established CFD broker with over 20 years of experience in the financial market. This app for forex trading in UAE offers a wide range of trading options, including forex, stocks, cryptocurrencies, metals, indices, agricultural products, oil, and gas.

The platform provides customers with various tools to help them develop their trading strategy, including trading ideas, forex signals, charting tools, market news, and more.

FX Pairs: 50+

14. Forex.com: Best Known for Technical Analysis



FOREX.com is a globally recognized online broker and the best forex trading platform in UAE, offering access to the FX and CFD markets. The platform offers two account types for users – commission-based and DMA.

The commission-based account involves CFD trading on low variable spreads and a flat fee of $5 per 100K lot. Also, FOREX.com offers access to over 80 currency pairs, irrespective of the account type selected.

FX Pairs: 80+

Pros and Cons of Online Trading Platforms and Apps

Pros

1. Convenience

Online trading apps allow investors to trade anytime and anywhere without the need to visit physical brokers or banks. This flexibility is precious for those with busy schedules.

2. Lower Fees

Online trading apps typically have lower fees than traditional brokerages, making trading more affordable for investors to trade.

3. Advanced Trading Tools

Many online trading apps offer advanced trading tools, such as real-time market data, charting tools, and research resources, that can help investors make informed trading decisions.

Cons

1. Lack of Regulation

Some online trading apps may not be properly regulated by authorities in the UAE, making it difficult for users to seek recourse in case of any issues or disputes.

2. Technical Issues

Online trading apps may experience technical issues from time to time, which can affect the user experience and lead to missed opportunities or even losses.

3. Cybersecurity Risks

Online trading apps involve using personal and financial information, which can be vulnerable to cyber-attacks and data breaches if proper security measures are not in place.

Conclusion: Which Online Trading Platform in UAE Would You Prefer to Use?

Online trading apps have become increasingly popular in the UAE, allowing investors to manage their investments on the go. While there are many benefits to using online trading apps, including lower fees and access to a broader range of investment options, it is essential to be aware of the potential drawbacks, such as the risks associated with trading.

It is best to carefully conduct proper research and choose a reputable trading platform. As for the best trading app to use, after reading this blog, you must’ve understood that the eToro trading app is one of the best trading apps in the UAE for stocks, ETFs, and crypto trading.

Given its unique features and ease of use, it is especially the most popular choice among beginners. You can also try the other trading apps on the above list to analyze which best suits your requirements. If you are looking create an online trading app of your own, you can hire The NineHertz, a reliable mobile app development company in Dubai.

FAQs

1. Is Online Trading Legal in UAE?

Trading in forex or other online markets without a valid license obtained through appropriate channels is strictly prohibited in the UAE.

2. Which Trading App is Best in the UAE?

eToro is a top-rated online trading app in the UAE, offering unique tools that make it easy for investors to trade and invest in various markets. The app’s user-friendly copy-trading platform allows users to copy the trades of seasoned traders.

3. Which Broker is Best for Trading in the UAE?

eToro is the best broker for trading in the UAE, well known for Copy Trading.

4. Which is the Most Trusted Trading App?

The Wealthfront mobile trading app is the most trusted app. It offers a user-friendly digital investment experience with comprehensive money management features and minimizes unnecessary data inputs with sliders, drop-down menus, and auto-fill functionality, making it easy to navigate.

5. What is the Best Way to Invest in the UAE?

The best way to invest in the UAE is by maintaining diversification across different investment instruments such as stocks, bonds, mutual funds, ETFs, and REITs can help yield a good return on investment. It is essential to do thorough research and consider factors such as risk tolerance, investment goals, and market trends before investing.

6. How Much Tax do I Pay on Trading in Dubai?

If you are a tax resident in Dubai, you do not have to pay any personal income tax on your trading gains. Dubai currently has a 0% personal income tax policy, which means that regardless of the number of profits you make from trading, you are not required to pay any income tax.

7. Is Crypto Trading Legal in the UAE?

While the Central Bank of UAE has not licensed cryptocurrencies or recognized them as legal tenders, there are currently no prohibitions against crypto assets. People can trade them on crypto exchange platforms. UAE citizens are allowed to own cryptocurrencies and deposit or trade them.

8. Is Forex Trading Legal in Dubai, UAE?

Yes, forex trading is legal in Dubai, UAE. However, forex brokers operating in the UAE must be licensed by the UAE Central Bank. Individuals who wish to engage in forex trading should also comply with all relevant regulations and guidelines.

9. What is the Best Forex Trading Platform in UAE?

Evest is the best forex trading app in UAE that allows investors to trade 29 forex pairs, making it a top choice for forex trading in the UAE. In addition to forex trading, Evest provides access to global stocks and indices.

10. Which is the Cheapest Crypto Trading Platform in UAE?

For beginners, eToro is the top crypto exchange in UAE as it has a user-friendly platform for crypto trading in UAE with low trading fees of only 1% on all crypto orders. The platform has advanced trading tools and can be accessed via multiple devices, including web and mobile apps. Additionally, eToro supports trading in 27 cryptocurrencies.