If you have ever searched for the ‘best trading platform in the UAE,’ you are not alone. With many local and international brokers offering access to international markets, it is normal to be overwhelmed by the choices you have.
However, three names often appear when those learning how to trade stocks in the UAE are researching brokers: eToro, IG, and Sarwa. Beyond stocks, they are also household names for traders exploring other asset classes.
But which one of them should you choose? It all depends on your trading style, experience, goals, and strategies.
In this article, we will help you choose smartly by evaluating these platforms based on several important factors.
eToro vs IG vs Sarwa: Overview
eToro is a global trading platform that is well known for its social trading feature and its commission-free stock and ETF trading. It is regulated in the UAE by the Financial Services Regulatory Authority (FRSA).
IG is a global trading platform popular for its large CFD offering. It is regulated in the UAE by the FRSA.
Sarwa is a UAE-based platform well known for offering an all-in-one platform where users can save, trade, and invest. It is regulated in the UAE by the FRSA.
eToro vs IG vs Sarwa: Asset classes
eToro offers access to stocks, ETFs, cryptocurrencies, commodities, indices, currencies, stock options, and CFDs.
IG offers CFDs on stocks, currencies, forex, indices, commodities, cryptocurrencies, and ETFs.
Sarwa offers access to stocks, ETFs, cryptocurrencies, and stock options.
eToro vs IG vs Sarwa: Fees
eToro charges a commission of $1-$2 on US stocks, $0 on ETFs, and 0.10%-1% on cryptos.
Other fees also apply:
- Account inactivity fee of $10/month for accounts dormant for up to 12 months
- Currency conversion fees, which vary by location, payment method, and Club level
- $5 for withdrawal from a USD account to external accounts
- 2% fee for transferring crypto to an eToro Money crypto wallet
IG charges 0.15% commission on CFDs of stocks and ETFs. The spread on forex and cryptocurrency CFDs varies based on the market and the particular asset.
Other fees that may apply:
- 1% currency conversion fee
- 2.3% card processor charges for deposits and withdrawals
- Monthly fees for ProRealTime charts, live price data, and direct market access
Sarwa charges a commission of the higher of $1 or 0.25% of the traded value on US stocks and ETFs. It also charges 4% commission on each option contract and competitive spreads on cryptos.
Other fees that may apply:
- Deposit fees: While local bank transfers are free, debit card deposits incur a fee of 2.99% plus AED 1 payable to card networks. For local bank transfers, there is an instant funding option that costs 0.99% of the deposit.
International card deposits cost 3.99% plus AED 1 per transaction.
- Withdrawal fees: While withdrawals to a local bank account are free, international transactions incur wire transfer fees that depend on the network involved.
eToro vs IG vs Sarwa: Trading tools
eToro has a proprietary trading platform on the web and mobile that is designed to be beginner-friendly (no sophisticated charting tools). It does not support MT4, MT5, or TradingView integration.
IG has its proprietary trading platform but also supports MT4 as well as integration with TradingView, ProRealTime, and L2 Dealer. It offers more advanced charting tools that experienced traders find useful.
Sarwa’s trading platform, Sarwa Trade, is available on the web and mobile app. It’s also designed to be beginner-friendly, and so lacks advanced charting tools.
eToro vs IG vs Sarwa: Account management
eToro supports deposits with credit cards, debit cards, and transfers from local UAE bank accounts. However, currency conversion fees apply. It also allows users to deposit with Apple Pay, Google Pay, PayPal, Skrill, and Neteller.
IG supports debit cards, credit cards, and only USD-based bank transfers.
Sarwa supports debit cards, credit cards, and local AED bank transfers (at no cost).
eToro vs IG vs Sarwa: Accessibility
eToro has a minimum requirement of $100 for standard accounts.
IG has no minimum requirement.
Sarwa has a $500 minimum requirement to get started on Sarwa Trade.
eToro vs IG vs Sarwa: Key features
eToro is a popular name mainly because of its copy trading product, investing and trading community, and large cryptocurrency offering.
IG is well known for providing a large offering of CFDs across global markets, offering advanced charting tools, and furnishing users with a large library of educational resources.
Sarwa is well known for free local AED deposits and withdrawals, a beginner-friendly trading platform, and an all-in-one platform for saving, investing, and trading.
Selecting the best trading platform
The comparison above shows that each of these platforms will naturally appeal to different trader profiles. So, instead of selecting the absolutely best trading platform, you should focus on the one that is best for you.
eToro is best if you are a new trader who wants to copy the trades of more experienced traders while perfecting your strategy. It is also best if you are a heavy cryptocurrency trader who wants access to many coins and tokens.
IG is the best if you are a CFD or forex trader. It’s also the best for experienced traders who require advanced charting tools.
Sarwa is the best if you are a beginner trader who wants a local broker that supports free local AED deposits and withdrawals. It is also the best at minimizing total trading costs by removing cost items like currency conversion fees and account inactivity fees.
Also, Sarwa provides many contextual educational resources that are useful for UAE-based traders. In addition to learning how to conduct fundamental or technical analysis, you can explore how to buy US stocks in the UAE or how to build wealth in the UAE as an expat.
