Stock options trading remains an effective way to earn passive income, manage risk, benefit from leverage, and profit from the price movements of stocks without owning them. It all depends on the stock options trading strategies you adopt.
If any of these goals are important to you, you should consider trading stock options.
In what follows, we consider the top 5 stock options trading apps in the UAE and what makes them unique.
1. Sarwa
Sarwa is a trading platform that originated in the UAE. It allows users to buy and sell options of thousands of US-traded stocks and ETFs.
Best known for
Sarwa is best known for its all-in-one platform, which allows traders and investors to conveniently buy and sell multiple assets.
Key advantages
- Free AED deposits and withdrawals: Transfers from local AED bank accounts to Sarwa, and vice versa, are free.
- Transparent fees: Sarwa charges $4 per contract traded. No hidden charges!
- User experience: Sarwa prioritizes a mobile-first experience, which makes its app easy to use. It also provides nice-looking contract performance profile charts with which you can monitor your option trades.
- All-in-one platform: The Sarwa app also provides access to stocks, stock ETFs, commodities ETFs, and cryptocurrencies.
- Educational resources: Through its blog and newsletter, Sarwa commits to helping its users become better traders and investors.
- Level 1 and 2 access: This makes Sarwa appropriate for beginners.
Ideal for
Sarwa is ideal for traders and investors who are using options as a part of a broader trading or investing strategy.
2. Interactive Brokers (IBKR)
Interactive Brokers is a global brokerage firm that provides access to a variety of assets across global markets. It expanded into the UAE in 2024.
Best known for
Interactive Brokers is best known for its global reach (options markets in over 30 countries).
Key advantages
- Very low commissions: Its $0.65 per contract commission is one of the lowest.
- Advanced trading tools: Expert traders can use its Trader Workstation platform, which has many advanced trading tools.
- Available on multiple platforms: IBKR has a desktop app, a mobile app, and a desktop web app.
- Smart routing: It can scan different exchanges to find the one with the minimum slippage and the best execution price.
Ideal for
IBKR is ideal for traders who can get maximum value from its advanced trading tools.
3. Tastytrade
TastyTrade is a retail trading platform that started out focusing on options trading. It now includes more asset classes and is available to UAE traders.
Best known for
TastyTrade is best known for its commitment to providing educational resources for traders.
Key advantages
- Low commissions: TastyTrade charges $1 to open a contract and $0 to close it.
- Educational resources: These include daily live shows, demos, courses, and strategy explainers.
- Level 1, 2, and 3 options trading: It is good for both beginners and experienced traders.
- Options chains and strategy builders: The platform makes it easy to visualize Greeks, risk/reward, and the probability of profit.
- Multiple access: You can trade through the web app, mobile app, and desktop app.
Ideal for
TastyTrade is ideal for traders who are heavily focused on options trading.
4. IG
IG is a UK-based trading platform that is available to UAE traders. It offers access to listed options and contract-for-difference (CFD) based options trading across twelve global options markets.
Best known for
IG is best known for its global reach.
Key advantages
- Low commissions: Commission is $0.85 per contract.
- CFD-based options trading: Investors who prefer CFDs in over-the-counter (OTC) markets to listed options can trade them on IG.
- Multiple access: You can trade through the web app, mobile app, and desktop app.
- Charting tools: IG provides nice-looking and powerful charting tools, like options strategy builders and risk-reward visualizations.
- Educational resources: IG is also big on users’ education.
Ideal for
IG is ideal for traders who want both listed options and CFDs.
5. Saxo Bank
Saxo Bank offers access to more than twenty global options exchanges. It also supports indices, forex, and commodities options.
Best known for
Saxo Bank is best known for its large product offerings. It offers stocks, ETFs, mutual funds, futures, forex, commodities, and options (for multiple asset classes).
Key advantages
- Multiple platforms based on experience: There is SaxoTraderGO for retail and intermediate traders and SaxoTraderPRO for advanced and institutional traders.
- Tiered commissions: Saxo offers classic, platinum, and VIP accounts, with commissions reducing as you go further up. Nevertheless, commission for classic accounts is still competitive.
- Algorithmic trading: Users can automate trades using computer programs and algorithms.
- Global brand: Saxo Bank is a global brand with a strong presence in multiple countries.
- Arabic language support: Saxo platforms are available in Arabic, and UAE traders can speak to support in Arabic.
Ideal for
SaxoBank is ideal for experienced traders who can make maximum use of its tools.
Final Thoughts
If you are a beginner who wants to include stock options trading as part of a larger trading or investment strategy, Sarwa is a good place to start.
You will have access to only Level 1 and 2 strategies, which are the most appropriate for beginners. Sarwa will also provide easily understandable charts and educational resources appropriate for beginners.
Moreover, you can buy other assets (stocks, ETFs, cryptos, etc) on the same platform, giving you a comprehensive look into your overall portfolio.