TD Ameritrade was one of the best-known US brokers, famous for its thinkorswim platform. If you live in the UAE and want to use it, there is an important change to know first: TD Ameritrade no longer exists as a separate broker. In this article we explain what happened, whether you can use thinkorswim from the UAE and which alternatives you can use instead.
Disclosure: this article contains affiliate links. If you open an account through them, we may receive a commission at no extra cost to you.
What happened to TD Ameritrade?
Charles Schwab announced the acquisition of TD Ameritrade in November 2019 and completed it in October 2020. Schwab finished moving all TD Ameritrade client accounts to Schwab in May 2024 and retired the TD Ameritrade broker. The thinkorswim platform continues as a Schwab platform.
Can you use TD Ameritrade or thinkorswim in the UAE?
You can no longer open a TD Ameritrade account anywhere. For non-US residents, Charles Schwab offers accounts through Schwab International in a number of countries. Schwab says it is registered only in the United States and not in any other jurisdiction, so it is not regulated by a UAE authority. Deposits are in US dollars, so AED transfers are converted.
If you are a UAE resident and want to use Schwab, check whether the UAE is on Schwab International’s list of eligible countries before you apply.
Alternatives to TD Ameritrade in the UAE
These brokers are available to UAE residents and cover what TD Ameritrade was known for, especially US stocks and options:
Interactive Brokers: the closest alternative to thinkorswim for active traders. Stocks, ETFs, options, futures and bonds on over 170 markets, low currency conversion costs and the professional Trader Workstation platform, plus the simpler IBKR GlobalTrader app.
Sarwa: a UAE-based platform regulated by the FSRA in the ADGM and the DFSA, with fractional US stocks, ETFs and options in Sarwa Trade and the Sarwa Invest robo-advisor.
eToro: regulated in the UAE by the FSRA in the ADGM. Commission-free ETFs, stocks from USD 1 per trade, crypto and social trading. New users in the UAE can get a stock or crypto position worth USD 50 after a first deposit of USD 200 (terms apply).
Freedom24: an EU broker regulated by CySEC with US stocks, ETFs, bonds and US options, plus commission-free recurring ETF investment plans.
XTB: a broker listed on the Warsaw Stock Exchange with a DFSA-regulated UAE subsidiary, focused on forex and CFDs.
For a full comparison, read our guide to the best online brokers in the UAE.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Freedom24: commission-free investing applies exclusively to specific recurrent investment plans, other fees apply according to the Freedom24 fee schedule.
FAQs
Does TD Ameritrade still exist?
No. Charles Schwab acquired TD Ameritrade and completed the move of all its client accounts to Schwab in May 2024.
Can I use thinkorswim in the UAE?
Only through a Charles Schwab account. Schwab International serves non-US residents in some countries, but it is registered only in the US, so check the eligible countries before applying.
What is the best TD Ameritrade alternative in the UAE?
Interactive Brokers is the best choice for active traders and options. Sarwa is simpler and has a UAE licence.
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.
