Page Summary
This guide helps users to find online brokers in UAE with the best options trading platforms. Options trading has gained in prominence in UAE as it provides opportunities for hedging and speculative investments with high returns (and possible high loses). With the variety of options brokers (reliable and unreliable) available in UAE, it can be tough to choose the ideal provider for individual investment strategies.
Missing out on research, comparison and reviews of online brokers can have a negative impact traders to select a platform that lack on options, competitive commissions, transparency or trading tools.
This guide evaluates 33 online brokers in UAE that allow trading with options. To help users find the ideal service for their needs, the best options trading platforms in UAE are ranked, reviewed and compared below considering number of tradable options, commissions, accessibility (web, desktop, mobile app), trading tools & platforms, research & education, regulation and customer support.
Top 5 Options Trading Platforms in UAE
- Interactive Brokers – Best for options overall
- AVAtrade – Top trading platform for options
- Saxo Bank – Ideal for professionals
- TastyTrade (TastyWorks) – Optimal for active traders
Top Options Brokers in UAE Compared
Key features of the best options brokers with the highest rated platforms in UAE are compared in the table below.
| Broker | Interactive Brokers | AVAtrade | Saxo Bank | Tastytrade |
|---|---|---|---|---|
| Min. deposit UAE |
$0
|
$100
|
$5000
|
$0
|
| Experience level |
Intermediate to Pro
Intermediate, Advanced and Institutional investors
|
Beginner to Intermediate
|
Intermediate to Pro
|
Beginner to Advanced
|
| Deposits & withdrawals |
Bank Wire
|
Bank Wire, Credit Cards, e-wallets..
Paypal, Skrill, Neteller, Perfect Money, Webmoney, Klarna, POLi, Boleto
|
Bank Wire
|
Bank Wire
|
| Research and fundamental analysis tools |
Trading Signals, Market research, Daily news, Market analysis..
Trading Signals, Market research, Daily news, In-depth Market analysis, Market screeners, Dividends calendar
|
Educational Resources, Webinars, News
Pers. Training & Room, Market In-depth Analysis, Market Research, Trading Signals
|
Market research, Daily news, In-depth Market analysis..
Market research, Daily news, In-depth Market analysis, Market screeners, Dividends calendar
|
Videocast. Charting, News, Trading Idea Generator
Calculators And Tools, Options Screener, ETF Screener, Stock Screener
|
| Regulation |
FCA, SEC, ASIC
|
BVI, ASIC, JFS, ADGM
FSCA, CySEC
|
FSA, FCA, FINMA
|
FINRA, SIPC, NFA
|
| Customer Service |
Phone, Live-chat, eMail
|
Phone, Live-chat, eMail
|
Phone, Live-chat, eMail
|
Phone, Live-chat, eMail
|
| Open account | Open account | Open account | Open account |
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.
Stock and Future Option Fees Compared
Stock and Future option fees of nominated platforms are compared in the table below.
| Broker |
Deposit fees |
Withdrawal fees |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Interactive Brokers | Yes | Yes | No | Yes | Yes | No | ||||
| AVAtrade | No | No | No | No | No | No | ||||
| Saxo Bank | No | No | Yes | No | No | Yes | ||||
| Tastytrade | No | No | No | No | No | No |
5 Best Options Broker Reviewed
Online brokers with the highest ranked trading platforms for options in UAE are reviewed below.
1. Interactive Brokers – Best Overall Options Broker
Min Deposit: $0
Fees: 4.9
Assets available: 4.9
Total Fees:
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Interactive Brokers offers its users a professional options trading platform (Trader Workstation) with many advanced tools for options trading including:
Rollover Options Tool – Allows users to scan current stock positions and calculate the number of covered options required to write to generate extra income. The tool can also be used to roll over expiring options.
OptionTrader – Displays market data for underlying assets, allowing users to create combination orders.
Options Analytics – Shows important options pricing criteria such as implied volatility and visualizes the impacts.
Options Portfolio – Scans market data for options trading opportunities using Greek risk dimensions like Delta, Gamma, Theta, and Vega.
Options Strategy Builder – Use straddles, strangles, butterflies and condors to create multi-legged combination orders.
Options Strategy Lab – Hedges long stock and ETF positions with profitable stock and option combinations.
Probability Lab – Shows the volatility outlook for underlying stocks and ETFs so users can identify profitable options trading strategies.
Volatility Lab – Provides snapshots of past and future stock volatility readings so that users can compare the performances of certain stocks with competitors.
The platform offers access to over 30 global options markets including the ISE Options Exchange, NASDAQ, AMEX, and CBOE. Users can also limit their risk, increase their execution speed, and benefit from better prices by using over 100 available order types and algos for options trading. This is especially useful for professional and high-frequency traders that use automated trading software.
Their trading fees on options ranging from $0,15 to $0,65 per options contract are among the lowest in the industry. The broker charges additional fees for services such as InteractiveAdvisors (management fees between 0,08% and 1,5% annually), clearing, and regulatory fees.
| Minimum Deposit | None |
| Available Futures and Options | 30+ global options markets and market centers |
| Trading Fees | $0,15 – $0,65 per options contract, depending on pricing plan chosen (IBKR Pro or IBKR Lite) |
| Trading Platform | Web-based platform & mobile app (Trader Workstation) |
| Account Types | Individual investor or trader, family office, small business, family advisor, non-professional advisor, registered investment advisor, hedge or mutual fund, money manager, proprietary trading group, introducing broker |
| Type of Broker | Broker dealer |
| Regulatory Bodies | SEC, CFTC, and FCA |
| Deposit Methods | Bank wire transfer, ACH transfer, check |
| Maximum Leverage Ratio | 2:1 |
Pros
- Competitive options trading fees
- Broad range of tradable markets (30+)
- Many different order types, algos, and research tools for options trading
Cons
- Charges fees for some options research tools and additional services provided
- Trading platform might be overwhelming for beginners
- Customer service could be better
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
2. AVAtrade – Best CFD and Forex Options Trading Platform in UAE
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AvaOptions (AvaTrade’s proprietary options trading platform) provides users with access to over 1,260 CFD, 40 forex options and streaming liquidity from the largest global banks. The trading platform contains a wide selection of professional risk management tools such as profit/loss charts, confidence intervals, and implied volatility curves. It also allows traders to visualise current and historical volatility and set up custom watch lists.
Users can set entry and closing limits directly on the chart (one-click trading) and use interactive sliders to set entry limits, stops, Take Profit, and Stop Loss orders. That said, AVAtrade is an interesting choice for advanced forex and CFD options traders looking for variety of trading tools and features.
AvaOptions doesn’t charge its users fixed prices for options trading but utilizes a fixed spread-based pricing model instead with spreads starting from 0,9 pips. Professional AvaOptions account holders can receive up to 33% discount on these spreads. Apart from spreads, AvaOptions charges inactivity fees of $50 per quarter after 3 months of inactivity and an annual administration fee of $100.
AvaOptions offers beginner traders a $10,000 demo paper trading account and Muslim traders can open an Islamic swap-free account that charges fixed fees on options instead of swaps and spreads.
- Fully Customisable Interface – Users can customize modules for charts, payoff diagrams, live risk reports, and streaming spot and options prices so the trading interface looks exactly like they want.
- Interactive Risk Management – Users can view all risks and simulate ‘’what if’’ scenarios within their account to place profitable multi-leg orders.
- Money Manager Support – Money managers can execute spot and option trades for multiple accounts from within a single login.
| Minimum Deposit | $100 |
| Available Futures and Options | 1,300 |
| Trading Fees | Low, floating spreads |
| Trading Platform | AvaOptions Desktop, AvaOptions app |
| Account Types | Demo account, standard account, spread betting account, Islamic account, professional account |
| Type of Broker | Market Maker |
| Regulatory Bodies | ADGM, FRSA, FCA, CySec, ASIC |
| Deposit Methods | Bank wire transfer, credit / debit card, neteller, Skrill, WebMoney |
| Maximum Leverage Ratio | 30:1 for retail traders and 400:1 for professional traders |
Pros
- Wide range of trading instruments (1,300+)
- Islamic swap-free accounts available
- ADGM and FRSA-regulated broker
Cons
- Only offers CFD and forex options
- Charges high non-trading fees
- Trading platform not suited for professional options traders
71% of retail CFD accounts lose money
3. Saxo Bank – Best Options Trading Platform for Professionals
Min Deposit: $5000
Fees: 4.7
Assets available: 4.9
Total Fees:
69% of retail investor accounts lose money when trading CFDs with this provider.
With access to options on stocks, indices, interest rates, and futures across 20 exchanges world wide, Saxo Bank offers one of the best market coverages in the industry.
Saxo Bank’s users can trade options on stocks, indices, interest rates, and futures across 20 exchanges world wide. The Saxo Bank options trading platform contains advanced trading features such as:
Option Chain – provides users with real-time price quotes
Strategy Builder – enables users to place multi-legged orders and use their own options trading strategies
Roll Option – allows users to extend options
Integrated Risk Data – gives users access to technical data such as Greeks delta, gamma, theta, vega, and rho
Advanced traders can also make use of Saxo Bank’s APIs and connect third-party tools such as expert advisors and automated trading software.
With trading fees for stock and contract options starting at $1 per contract, they are a low cost options broker. By trading on higher volumes traders can move up tiers in the fee structure and pay even lower fees.
| Contract Type | Classic Account Tier | Platinum Account Tier | VIP Account Tier |
| USD | 3,00 | 2,00 | 1,25 |
| EUR | 3,00 | 2,00 | 1,00 |
| GBP | 2,50 | 1,50 | 1,00 |
| CHF | 4,00 | 3,00 | 1,00 |
| HKD | 30,00 | 20,00 | 1,00 |
| AUD | 5,00 | 3,00 | 1,00 |
| Contract Type | Classic Account Tier | Platinum Account Tier | VIP Account Tier |
| AUD | 10,00 | 5,00 | 2,00 |
| EUR | 6,00 | 3,00 | 1,00 |
| GBP | 5,00 | 2,50 | 1,00 |
| USD (Cash Index Options) | 6,00 | 3,00 | 1,50 |
| USD (Future Options) | 6,00 | 3,00 | 1,25 |
| CHF | 8,00 | 4,00 | 1,50 |
| JPY | 1,000,00 | 800,00 | 700,00 |
| NOK | 65,00 | 35,00 | 20,00 |
| SEK | 75,00 | 40,00 | 15,00 |
| CAD (Full-sized contracts) | 6,00 | 3,00 | 10,00 |
| HKD | 30,00 | 25,00 | 15,00 |
Saxo Bank provides market research tools and educational material in the form of guides, videos, podcasts, events, and webinars. The broker also provides asset management services and users can speak with in-house strategists to receive personalised trading and investing advice. Overall, Saxo Bank offers more research tools and educational material than other options trading platforms and brokers.
| Minimum Deposit | $2,000 |
| Available Futures and Options | Saxo Bank provides access to options and futures across 20 worldwide exchanges |
| Trading Fees | From $1,25 per contract |
| Trading Platform | SaxoTraderGO, SaxoTraderPRO |
| Account Types | Saxo Account, Joint Account, Corporate Account, Professional Account, Portfolio-based Margin Account |
| Type of Broker | ECN Prime broker |
| Regulatory Bodies | Central bank of the UAE, ASIC, CySEC, FCA, FINRA, and multiple other tier 1 and tier 2 licenses |
| Deposit Methods | Bank wire transfer, debit/credit card, stock transfer from other broker |
| Maximum Leverage Ratio | 50:1 |
Pros
- Professional trading platform with a lot of advanced tools and order types
- Great choice of different options to trade (20+ global exchanges)
- Regulated by the Central Bank of the UAE
Cons
- Trading platform isn’t beginner-friendly
- High minimum deposit required to open account
- No 24/7 live chat available
69% of retail investor accounts lose money when trading CFDs with this provider.
4. Tastytrade – Best For Active Options Traders
TastyTrade users have access to advanced option trading tools (watch lists, position details, multiple positions), complex order types, and dynamic chart drawing tools. This makes TastyTrade a popular platform among active option traders.
TastyTrade also provides great educational materials, research tools such as in-platform video feed, charting indicators, options screeners and a correlation matrix which shows greeks and implied volatility on stocks and indices.
Apart from offering commission-free stocks and ETFs, they charge an $1/contract fee capped at $10 per leg on options.
| TastyTrade Trading Fees | Opening Commission | Closing Commission |
| Options on Stocks and ETFs (capped at $10 per leg) | $1,00 per contract | $0 |
| Options on Futures | $2,50 per contract | $0 |
| Options on Micro Futures | $1,50 per contract | $0 |
| Stocks & ETFs | $0 unlimited shares | $0 |
| Futures | $1,25 per contract | $1,25 per contract |
| Micro Futures | $0,85 per contract | $0,85 per contract |
| Smalls Futures | $0,25 per contract | $0,25 per contract |
| Smalls Futures Options | $0,50 per contract | $0 |
| Cryptocurrency | 1% of total crypto purchase | 1% of total crypto sale |
Although TastyTrade doesn’t offer a demo paper trading account, users can create a live trading account without any minimum balance requirements.
| Minimum Deposit | None |
| Available Futures and Options | Hundreds of single and multi-leg option contracts, futures on commodities, futures options, Bitcoin futures, and options on treasury bills |
| Trading Fees | From $1 per options contract to open, $0,50 to $0,00 to close, 1% per side on cryptocurrency options, $2,50 on options on futures, and $0,25 per side on smalls futures |
| Trading Platform | TastyTrade desktop, browser, and mobile trading app |
| Account Types | Individual account, Tenants in Common Joint account, Joint With Rights of Survivorship account, Traditional IRA, Roth IRA, SEP IRA, Beneficiary Traditional IRA, Beneficiary Roth IRA, C Corp, S Corp, LLC, Partnership, Trust, International Basic Cash, International Margin |
| Type of Broker | Broker-dealer |
| Regulatory Bodies | SEC, FINRA, and ASIC |
| Deposit Methods | Bank wire transfer, ACH transfer, check |
| Maximum Leverage Ratio | 2:1 |
Pros
- Low, competitive trading fees on options and futures
- Fully customizable trading platform well-suited for advanced active options traders
- Great educational materials and outstanding research tools
Cons
- Limited amount of tradable financial instruments compared to other options trading platforms
- No demo account available
- Platform too complicated for beginner traders
How to Find the Right Broker for Options Trading?
Below, our experts listed the most crucial criteria to consider when comparing the best options brokers and trading platforms.
- Number of options contracts and other tradable financial instruments available at the broker.
- Options trading and non-trading fees charged by the broker.
- Options trading platform features.
- Mobile user friendliness, intuitiveness and available features.
- The quality of support given by the broker.
- Amount of educational material and analytical tools offered.
- Available banking methods (deposits/withdrawals).
- UAE availability (whether UAE traders and investors can register an account and use the options trading features).
Top Options Brokers Compared
Key features of online brokers with the highest rated platforms are compared in the table below.
| Broker | Number of Options | Options Trading Fees | Trading Tools & Platforms | Third-party Integrations | Customer Support |
|---|---|---|---|---|---|
| Interactive Brokers | Extensive options offering | $0.15 – $0.70 per contract, depending on the monthly volume | Trader Workstation, Client Portal, IBKR Mobile | Extensive API offering | Phone, chat, and email support |
| AvaTrade | 40 forex options | Trading costs are included in the spread | AvaTradeGo, AvaOptions, MetaTrader 4/5, DupliTrade | DupliTrade, ZuluTrade, MQL5 | Phone, email, and live chat support |
| Saxo Bank | Provides access to options in multiple asset classes | Pricing varies based on volume and asset class | SaxoTraderGO, SaxoTraderPRO | Limited API access, integrated with stock screener and other tools | Phone, email, and chat support |
| TastyTrade | Extensive options offering | $1.00 to open, $0.00 to close, per contract | TastyTrade Desktop, TastyTrade Web-based, TastyTrade Mobile | Limited, mainly integrates with other tastytrade platforms | Phone, email support |
| Assets | Interactive Brokers | AvaTrade | Saxo Bank | Tastytrade | |
| Option Markets | 36 | 0 | 20 | 8 | 0 – 40 |
| Binary Options | No | Yes | No | No |
| Trading Platform | Interactive Brokers | AvaTrade | Saxo Bank | Tastytrade |
| Desktop Trading Platform | IBKR Trader Workstation, IBKR Desktop | AvaOptions | SaxoTraderPro | Tastytrade |
| Web Trading Platform | IBKR Client Portal | – | SaxoTraderGo | Tastytrade |
| Mobile App | IBKR Mobile, IBKR GlobalTrader, IBKR Impact | AvaOptions | SaxoTraderGo | Tastytrade |
| Automated Trading | Yes | Yes, only with platform built-in strategies | Yes | Yes |
| Copy Trading | No | No | No | Yes |
| Demo Account | Yes | Yes | Yes | No |
Please note that specific features and offerings can vary significantly between brokers.
What is Options Trading? Definition, How it Works, Examples
Options Trading refers to a financial instrument that is based on the value of underlying securities, such as stocks, indexes, and exchange-traded funds (ETFs). Options trading has become one of the most popular instruments in trading in the last couple of years. This is why the total volume of future and option trading reached 137.3 billion contracts in 2023, up 64% from the previous year globally. I have been in the markets for more than seven years, and this is the biggest rise in numbers globally. Options trading is an instrument in trading; options are derivatives of stocks or any other asset. It allows investors to buy or sell the right to purchase or sell an underlying asset at a predetermined price within a specified timeframe.
Is Options Trading Worth It?
Options trading can be used to hedge or speculate. Generally, a common option on a liquid stock will provide a fair value relative to the stock’s price and past price movements. However, options trading may not be right for everyone. With options, you can be correct in your prediction but still lose money if your timing is poor, and options can be quite volatile. However, the owner of a stock can use puts to offset a stock’s losses if its price moves lower or could sell covered calls against their stock position to generate additional income with limited risk. Therefore, financial options are a powerful tool that is worth using if they meet your objectives and risk tolerances.
Is Trading Options Gambling?
With any form of speculation, whether investing in popular assets like real estate or stocks, positive returns are not guaranteed. Options traders use this form of derivatives trading to take calculated risks. Some people prefer higher-risk growth stocks, while others prefer quiet companies that pay a consistent dividend. Each type of investment has its positive and negative attributes, depending on your investment objectives. Yes, options can be used to speculate with a great deal of risk, but they can also be used to reduce risk, lock in profits, or take very specific positions based on timing and price expectations. Therefore, options are a valuable tool for both speculators and hedgers.
Option Trading Strategies
Option trading strategies are used by options traders to maximize their gains and mitigate risks. Options are financial instruments that give the buyer the right, but not the obligation, to buy or sell a particular underlying asset at a specific price before or on a predetermined date and time.
Below, our experts will list the most commonly used options trading strategies:
- Covered Call – We speak of a covered call when a trader owns the underlying asset and then sells a call option on the same asset. This options trading strategy aims to earn the premium on the call option, with the only risk taken that the asset may be ‘’called away’’ at the strike price.
- Protective Put – This options trading strategy is used when a trader buys a put option for an asset they already own in the form of insurance, protecting the downside risk by guaranteeing a sell price when the asset drops in value.
- Butterfly Spread – Involves using several options contracts, each with a different strike price, limiting both risks and rewards but also heavily lowering the volatility of the total investment done across all options contracts.
- Straddle – We speak of a straddle when an options trader buys both a call and put option at the same strike price and expiry date. This options trading strategy is used when a trader expects a significant price swing but doesn’t know which direction yet.
- Strangle – Like a Straddle, but this time with the options having different strike prices. Placing a Strangle is cheaper than a Straddle, but it requires more significant price swings to be profitable.
- Iron Condor – This more advanced options trading strategy involves buying and selling call and put options at different strike prices but with the same expiration date. The strategy tries to capture profits from the low volatility of the underlying asset(s).
- Bull Call Spread – This bullish options trading strategy includes buying call options at a specific strike price while selling the same number of call options at a higher strike price. This strategy limits gains and losses, making it a relatively safe strategy.
- Bear Put Spread – With this bearish options trading strategy, traders buy put options at a particular strike price and sell the same number of put options simultaneously at a lower strike price. This strategy is being used to profit from the price decrease of the underlying asset.
Every options trading strategy mentioned above comes with its risks and rewards. Additionally, they are used based on the trader’s market sentiment and risk appetite. Knowing the risks involved with options trading before applying any particular strategies.
Options Trading for Beginners
Options trading is often more complex compared to trading other asset classes. However, beginners can get the hang of it with the right coaching and education. Below, our experts will explain how to get started with options trading:
Understanding How Options Work
What are options exactly?
- Options are financial contracts that give you the right, but not the obligation, to buy or sell an underlying asset (like a stock or commodity) at a predetermined price (the strike price) before or on an exact date and time (expiry time).
Options Types
- Call Options: Allow you the right to buy the underlying asset.
- Put Options: Give you the right to sell the underlying asset.
Basic Concepts of Options Trading
These are the most commonly used terms in options trading:
- Premium – The additional price traders pay to buy an option.
- Strike Price – The fixed price at which the underlying asset can be bought or sold.
- Expiration Date – The exact date and time the option expires.
- In the Money – We speak of ‘’In the Money’’ when an option has intrinsic value (Call: stock price lower than strike price or Put: stock price greater than strike price.
Why Trade Options?
The most commonly used reasons to trade options are:
- Leverage Usage – With higher leverage, traders can buy or sell more options with less capital.
- Hedging Allowed – Protects against losses in a trader or investor’s portfolio.
- Price Speculation – Options allow traders to profit from price movements of the underlying asset.
Getting Started With Options Trading
- Learn How to Trade Options – Read (e-)books, follow courses, and watch tutorial videos.
- Choose a Broker – Select one of our top-suggested options brokers that suits your personal needs and trading style.
- Practice with a Demo Options Trading Account – Use a paper trading account to learn how to trade options without risking real money.
- Make a deposit and start small – Make a minimal deposit into your options brokerage account and make small trades using appropriate risk management.
- Develop an Options Trading Strategy – Try and execute different trading strategies to determine which suits your risk tolerance and investment goals the best.
Basic Options Trading Strategies for Beginners
- Buy Calls – If you think the underlying asset will rise in price.
- Buy Puts – If you think the underlying asset will drop in price.
- Covered Calls – The action of selling call options on an underlying asset that you own.
- Protective Puts – The action of buying put options on an underlying asset that you own.
Risk Management In Options Trading
- Know the Risks – Options that expire can be entirely worthless.
- Diversify – Don’t risk all your capital on one or several options contracts.
- Set Limits – Know when to cut your losses and take your profits.
Important Tips
- Stay Up-to-date – With the latest market trends and financial news.
- Patience is a Virtue – Options trading requires traders to be patient and disciplined.
- Do Your Own Research – Consider consulting with a financial advisor and do your own research and due diligence regarding options trading.
Features of the Best Options Trading Brokers
Options traders usually look for a more complex trading platform to trade options with than traders and investors looking to buy and sell stocks. While active options traders may want to trade with options brokers with a great selection of calculators (Greek) and screeners, others may want to trade with the cheapest options broker regarding trading and non-trading fees.
Below, our experts will highlight the most sought-after options trading broker features:
- Commission-free Options Trades – Although one shouldn’t only look at a broker’s pricing, it is essential to know how much in commissions and fees you pay, as these fees decrease your net gain. Luckily, commissions have been lowered across the board recently, and almost all options brokers offer commission-free stock trading nowadays. Additionally, most brokers provide commission-free options trading but may charge options trading fees on a contract basis.
- Platform – There is no ‘’best options trading platform’’ in general, as this depends on the user’s personal trading style(s) and investment goals. While some traders look for full-featured options trading platforms, beginners are often overwhelmed by these platforms’ many features and functions.
- Resources – Most of the best options brokers and platforms offer a broad range of educational resources, including explainer videos, tutorial guides, and interactive webinars for beginner options traders. Options can be complex instruments, so be sure you know all the potential risks.
What are the Best Apps for Options Trading?
All the best options brokers mentioned in this guide and most reputable stock brokers have comprehensive trading platforms available so that users can efficiently conduct their trades, including the option to place trades from their mobile devices through the respective mobile options trading apps. There is no such thing as a ‘’best options trading platform’’ for everyone, as needs between traders and investors vary.
Below, we present a rundown of our top-suggested options brokers and their respective app ratings.
| Options trading app | GOOGLE PLAY STORE RATING (OUT OF 5 STARS) | APPLE IOS RATING (OUT OF 5 STARS) |
| Interactive Brokers | 4,8 | 4,1 |
| AvaTrade | 4,0 | 4,2 |
| Saxo Bank | 4,3 | 4,7 |
| TastyTrade (formerly Tastyworks) | 3,6 | 4,9 |
Is Option Trading Halal?
Options trading is considered Halal by some Islamic scholars and Haram by others. Key reasons for this constant debate include:
- Options are Speculative Assets (Gharar) – As options trading is highly speculative, some consider it prohibited in Islamic finance.
- Gambling (Mairsir) – Options trading is often compared to gambling, which is considered Haram in Islamic culture.
- Interest (Riba) – Islamic or Sharia Law prohibits the usage of interest, which some options strategies utilize. Overnight positions, for example, come with swap rates, which are technically interest rates to be paid by the trader to the broker.
- Ownership Issues – Options are derivatives, meaning that traders do not own any underlying asset but profit from its price movements. This is against Islamic principles that emphasize actual economic activity.
- Multiple Scholarly Opinions and Interpretations – Islamic scholars have different views on whether options trading is Halal or Haram, with most stating it is Haram.
- Alternative Islamic Finance Products – Some brokers and trading platforms have Sharia-compliant investment products that are similar to options but adhere to Islamic principles. Our experts highly advise consulting an Islamic finance scholar or advisor before investing in or trading these financial products.
Conclusion
The wide range of brokers in UAE that offer access to options with different services and conditions makes it hard to find the ideal provider for individual needs. Evaluating and comparing helps avoiding unreliable brokers, but requires time and knowledge.
This guide does the hard work for you by comparing and evaluating the top choices for different types of traders and trading goals. The results of our analysis of online brokers in UAE with the best options trading platforms are wrapped up in the table below.
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | Interactive Brokers | Tradable markets (30+) | 4,9/5 | Best for options overall | Official website |
| #2 | AVAtrade | Islamic swap-free accounts available | 4,9/5 | Best trading platform for options trading | Official website |
| #3 | Saxo Bank | Advanced tools and order types | 4,9/5 | Best for professionals | Official website |
| #4 | TastyTrade | For advanced active options traders | 3,2/5 | Best for active traders | Official website |
FAQ
Is options trading legal in the UAE?
Yes, trading in financial derivatives such as options is regulated by the Securities and Commodities Authority (SCA) in the UAE and is therefore legal.
Are profits generated with options trading taxed in the UAE?
Profits generated through options trading are not subject to any income or capital growth tax in the UAE.
What is a good starting capital to start options trading?
Options trading includes margin, leverage and risk, therefore it is recommended to starting with a trading balance between $500 to $1,000.
Is options trading recommended for beginners?
Options trading exposes the trader to a high risk of losing money. It is also complex and requires advanced understanding of financial markets and is therefore not recommended for beginners.
Can I trade options with leverage?
Yes, you can trade options with up to 30:1 leverage as a retail trader and up to 500:1 leverage as a professional trader.
What is the best options trading platform in the UAE?
The best options trading platform in the UAE is TradeStation, with Interactive Brokers coming in second, followed by AvaOptions, Saxo Bank, and TastyTrade.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
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Giles Thomas is the CEO of Business24-7 and has considerable experience in the financial industry as Executive Director and Head of Asia for the Family Office Industry focused business FOE.Global. He is also a veteran internet marketer with 13 years of experience in SEO and digital asset M&A.