Friday, April 19, 2024

Comparing the Best Trading Platforms in the UAE: Features and Benefits

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Trading commodities, currency pairs, ETFs, and other investment vehicles is one of the best ways to diversify income sources and build wealth. Beginner traders in the UAE are often bombarded with numerous trading platforms because the country has become very popular with traders, investors, and brokers. This makes it harder to pick one that suits your trading needs. In this article, we will look at highly rated trading platforms in the UAE and explore their benefits and features to make picking one easier for you.

eToro

eToro is targeted towards beginner traders, evidenced by its easy-to-use trading platform and the level of support it provides its traders. Its popularity also stems from the multitude of trading options it provides, including commodities, indices, forex pairs, ETFs, and shares.

Beginners can take advantage of its copy trading feature and one-click trading feature. It also has a broad range of educational and learning materials as well as research tools for traders at all levels. The platform’s main downside is that it reserves some of its research tools for its VIP members. Its fees on crypto trades are also higher than those on other platforms.

HF Markets

HF Markets is a well-known, reputable trading platform that has been operating for some time. According to our research, HFM has been recognized as a leading broker in several regions, including Europe, Africa, and the UAE. This recognition is anchored in its excellent customer service, ultra-fast trade execution, and being registered, regulated, and licensed in all markets it operates.

The company prides itself on providing customer-centered trading services and diverse trading options. These include commodities, currency pairs, indexes, and contracts for differences (CFD).

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Its easy-to-use online platform, trading and analysis tools, and educational materials have also led to some recognizing it as the best trading platform in UAE. HFM also provides an award-winning app that lets you access your account, manage your wallet and conduct trades on your mobile device and on the go.

AvaTrade

AvaTrade is popular with beginners and is regulated by the DFSA as a forex and CFD broker. Its main attraction is the wide range of trades and investments it accepts. Traders can start with as little as $100 and trade with up to $100,000. However, this upper limit is limited to established traders, but virtual funds of the same amount are available on the platform’s demo accounts.

Like other platforms, AvaTrade also allows beginners to copy trades from seasoned traders and has extensive learning resources. While HF Markets above has zero spread, AvaTrade has a spread of 0.22 during peak times.

IG Trader

IG Trader gives you access to over 25 markets and 17,000 stocks to invest in, making it one of the largest trading platforms in the UAE. It shares similar features to other trading platforms, with the addition of English and Arabic-speaking customer service representatives.

Pepperstone

Pepperstone is a licensed broker that’s accessible to users from the UAE. Choose from the desktop version for Window and Mac OS or download the mobile app. There is also a web version. The Pepperstone platform has plenty of useful features, including robo advisors, copy trading, and strategy backtesting. If you need customer support, it’s available in Arabic as well as English.

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Pepperstone offers accounts for Islamic traders that are swap-free and commission-free, with no interest charged overnight; an admin charge is payable for this feature. 

Plus500

Plus500 is regulated in multiple jurisdictions, including the UAE. It’s a good option if you are interested in CFD trading, as it gives users access to CFDs on more than 2000 stocks. The broker doesn’t charge commission on trades, as it makes money through bid/ask spreads. Day traders love the platform, and there are lots of educational resources to take advantage of in the trading academy. The mobile platform is handy for trading on-the-go and you can try using a free demo account first.

The various trading platforms in the UAE offer different options, investment levels, and features that make it challenging to find one that stands out. However, looking at their features, benefits, and differences should tell you which one aligns best with what you need. 

Stuart Wagner
Stuart Wagner
"Professional coffee fan. Total beer nerd. Hardcore reader. Alcohol fanatic. Evil twitter buff. Friendly tv scholar."

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