You may have heard about E*Trade on YouTube videos, forums, and other media, as it is a popular and easy-to-use application for investing in stocks, ETFs, and other types of assets. However, in 2013 reduced the number of countries in which this platform could be operated and decided to focus on its main business in the United States.
You can use E*Trade in the United States and also in some European countries, but it is not available in the United Arab Emirates. But don’t worry, there are other equally valid platform options available to invest. Stay and keep reading!
Is it possible to invest in E*Trade from the United Arab Emirates (UAE)?
The answer, unfortunately, is no. E*Trade does not work in the United Arab Emirates. Its main market is the United States and some European countries (in fact, it withdrew from several of them in 2013).
It is important to note that many Youtubers and other content creators promote the E*Trade app to reach Arab viewers and users living in the United States and some European countries.
Alternatives to E*Trade in the United Arab Emirates (UAE)
We are going to give you some alternatives to E*Trade in the UAE. Please, note that these options are based on our knowledge and experience in this field and we believe that they are the best options available in the UAE market. To conclude that they are good options, we used the following criteria: the regulators that oversee the platforms, customer feedback, the ease of use of the platform, accessibility for UAE investors and, of course, something fundamental: costs.
- eToro: Commission-free stock and ETF trading. You can also copy other traders/investors.
- Interactive Brokers: Founded in 1978, IBKR is one of the most trusted brokers in the world. It offers a huge range of financial products (stocks, ETFs, options, etc.) and low currency conversion rates. Interactive Brokers also launched IBKR GlobalTrader, a modern mobile app for trading stocks, options and ETFs, ideal for beginning investors.
- Freedom24: A broker well-known for its exclusive feature of IPO subscriptions for individual investors (previously accessible only for institutional investors). It also offers stocks, ETFs, bonds, futures, and options on major American, Asian and European exchanges.
- Plus500: Is one of the leading CFD brokers. It offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares.
- XTB: One of the world’s largest stock exchange-listed brokers, XTB provides traders access to hundreds of markets through forex, indices, commodities, CFDs, and cryptocurrencies. It also features low spreads and commission-free trades.
Conclusion
Unfortunately, we confirm that E*Trade is not available in the UAE. However, there are other viable and good alternatives that can be considered by UAE investors. Those discussed and analyzed are: eToro, Interactive Brokers, Plus500, Freedom24 and XTB.
Each of these platforms has different features and services that may be attractive to different investor profiles.
Sergio is passionate about finance. He has worked as an auditor and consultant in large international accounting firms. Now, he is an investment senior analyst and invests in companies on his own as a retail investor.
