Best stock trading platform in the UAE
The trader's main tool is the online trading platform. And it is the functionality, informativeness, usability of the platform that largely determines the success of future transactions.
What platform to choose? In today's online market of investment services you will find dozens of offers from brokerage companies, but our task is to choose the best option.
Based on feedback from experienced traders, we have identified the main differences of a quality online investment platform and selected, in our opinion, the best trading platform in the UAE.
Let's take a closer look at what most traders believe determines the quality of a good investment platform.
Easy registration on the platform
The platform comes with a demonstration account with $10,000 in the balance so you can try things out. Basically, a demo account is just like a real account, except that the funds in the account are fictitious and you won't be able to withdraw them. But since this trial account simulates a real account you can make any test operations, so you can check out if your investment projections are accurate and your strategy works. By using a demo account you will not risk any unnecessary costs, as you will learn how the platform works and get the necessary experience. Practice using your demo account to analyze your options and compare your projected and actual performance. Learn to use various trading tools, such as stop loss or multiples, on your demonstration account account to see how it works.
The investment platform we chose offers a demo account with a dummy amount of $10000. The nice difference from many other platforms is that here this amount can be updated an infinite number of times if necessary. So you can test all trading options and instruments and try trading any asset - the dummy amount is definitely enough for you. In addition, there is no time limit on using a demo account - you can use it for as long as you need.
Also worth mentioning is the important learning section. The platform contains a number of video tutorials, which explain and show in detail how the system works. Here you will find lessons on how to use complex indicators and functions, as well as basic lessons for beginners. This section is definitely a big plus when choosing a platform, as you do not have to look for information for a long time. All you need is at your fingertips, in a convenient format, and the lessons are written in simple and easy to understand language.
Convenient deposit and withdrawal methods
The platform has "deposit" and "withdraw" buttons, which is very convenient. You don't have to search for deposit methods by account details. Simply click on the "deposit" option and the system will redirect you to the appropriate section of the platform, which has all the available top up options. There is an option to deposit via bank card, as well as using one of the payment systems listed on the platforma. Platforma cooperates with such well-known and convenient payment systems as WebMoney, AdvCash, Skrill, Perfect money and Neteller. Money is almost always credited instantly. Later on, you can also use these same funds for withdrawals.
The platform is loaded with trading tools. You can use the stop loss feature, which triggers a pending sell order when the operation reaches a certain limit that you choose. That is, a stop loss is an instruction for the broker to automatically sell the stock when the quotes fall to a certain level. A kind of loss limiter. A stop-loss protects the investor from losing too much. It is considered very dangerous to trade in the market without using a stop loss.
Stop-loss is also useful if an investor has no time to sit in front of a trading terminal and watch the price movement all the time. It will also help limit losses in case of force majeure - power outage or stock market malfunction.
Finally, a stop-loss can save your money if you misjudge the situation during trading. For example, if he thought that the downward price trend will end soon and the stock will recover its losses, but his expectations were not met and the stock continues to fall.
While the stop loss limits the magnitude of the loss, the take profit limits the magnitude of the gain. The investor determines the price at which the broker will automatically sell the stock after it rises.
At first glance, this profit limitation seems strange. But in some situations, taking profit saves the day. Similar to a stop loss, this order helps if the investor does not have time to monitor the stock's performance, waiting for more upside.
In addition, a take profit can protect against force majeure, technical failures, as well as misjudging the market situation.
Another tool available on the platform is the "multiplier" feature. By clicking on this option you automatically activate the leverage mode. Using the multiplier helps to significantly increase your start-up capital. But it also increases the risk. You can combine the multiplier function with the stop loss function to minimize the risks.
So the above tools make trading much easier, and their availability is a definite plus when choosing a trading platform.
Availability of indicators for technical analysis
A successful trader has to be a good analyst. The platform helps to analyse the market situation by means of different indicators for technical analysis.
Indicators are visualized mathematical calculations of price data for a definite period of time. Technical indicators are used for faster and more convenient market analysis. Almost all existing and well-known indicators in investing are collected on our platform. They are easy to activate, simply by selecting them from the list. The indicator chart is superimposed on top of the stock chart, providing a complete and clear picture for analysis. You can select one or more indicators at the same time, simply by selecting or removing previously added indicators from the platform's panel.
The most popular indicators are MACD, Parabolic SAR, Stochastic and Bollinger Waves.
- MACD is an acronym for 'Moving Average Convergence Divergence', which stands for the moving averages convergence and divergence. This indicator is visualized by correlation of two exponential moving averages. Its purpose is to define the trend direction and strength. Signal line in the indicator window is a simple moving average of the indicator values.
- Parabolic SAR is plotted on the price chart and is displayed as small points. It is similar to a moving average in its function, but the difference is that the Parabolic SAR moves with greater acceleration and can change its position relative to the price. In a bullish (upward) trend the indicator moves below prices, and in a bearish (downward) trend it moves above prices.
- The Stochastic shows the position of the current price relative to the extremum for the chosen period, expressed as a percentage value between 0 and 100. The idea behind the Stochastic is to use overbought or oversold signals for the corresponding asset to identify the points at which a reversal movement is likely to start in the market.
- Bollinger waves show the dynamic range of price movement. With their help many traders find the relative position of the price on the selected time interval, as well as determine possible points of entry into the market and levels of formation of correlation waves when prices rebound from the indicator lines.
Informativeness and feedback
Reliable and timely information is the key to successful trading. The platform, which we believe to be the best investment platform in the UAE, is very informative. When you select any of the provided assets on the platform, you will see a separate "information" tab, by clicking on it you will open the actual data, such as the current asset price, trading schedule, spread size, market trend, "trader sentiment" scale and so on.
In addition, the platform has a "news" section with links to the latest news from verified sources. You can set up the news section to display the news feed in real time on the platform, or you can go to the "news" section whenever you like by removing the news feed from your work screen.
Feedback is available on the platform. Support is available 24/7 and there are around 20 languages to choose from. Therefore you have the possibility to choose a consultant who speaks your language and who is available at any time of the day or night.
All the above facts speak in favor of choosing this platform for trading.
IQ Option is the best trading platform for stock trading in the UAE.