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Crypto Trading Platforms In The UAE

The UAE has emerged as the top destination for all things crypto in recent years. As a result, companies have flocked to set up bases there and driven a surge in interest in crypto. The UAE is set to take advantage of a new wave of crypto investors searching for a favorable market environment.

In this guide, we compare the best crypto trading platforms in the UAE for a range of crypto market, features, fee structure and cryptocurrencies offered.

The Best UAE Crypto Trading Platforms for Beginners 2024

Here’s a list of the best crypto trading platforms in the UAE for 2024:

  1. eToro –  Best crypto trading platform in the UAE overall
  2. Kraken – Simple crypto trading platform ideal for beginners
  3. Skilling – Excellent platform known for its mobile trading offering
  4. Binance – The world’s largest crypto trading platform by trading volume 
  5. AvaTrade – Highly regulated platform offering a secure trading environment
  6. Exness – Offers users a unique trading experience
  7. Plus500 – Trusted platform known for its reliability and transparency

Best Crypto Trading Platforms In The UAE Reviewed 

In the sections below, we review the best crypto trading platforms in the UAE, covering everything that traders need to know before start trading crypto assets.

1. eToro – Best crypto trading platform in the UAE overall

Crypto traders in the UAE will likely find that eToro is the overall best crypto trading platforms for their needs.

eToro makes trading simple through an intuitive, easy-to-use interface. The platform offers over 75 major cryptocurrencies (more on this later), including Bitcoin and trending cryptos such as Dogecoin, Ethereum, Solana, and many more. The platform has established itself as one of the biggest crypto trading platforms in the world and offers a host of unique features.

eToro Crypto Trading Platform

These features include Copy Trading, Social Trading, and Smart Portfolios. eToro offers users a number of financial products apart from cryptocurrencies. These include stocks, ETFs, indices, commodities, NFTs, and currencies. In fact, there are over 3000 tradable assets available on the platform.

The trading platform was launched in 2007 with the goal of disrupting the trading ecosystem. While it was launched in 2007, eToro began offering crypto only in 2013 when it added support for Bitcoin. In 2013, this was expanded to include other assets such as Ripple (XRP) and Litecoin (LTC). 

So what does eToro offer users?

eToro primarily focuses on providing investing and copy trading services. The platform is the largest social trading platform in the world, and as of June 2023, it had 33 million global users. The platform offers several account types, including crypto staking and a dedicated crypto wallet. It also has a membership plan called eToro Club.

Users are automatically assigned the bronze tier when they join eToro using a standard account. Other tiers offer benefits such as live webinars, lower fees, VIP events, and premium subscriptions. eToro also offers an eMoney account, allowing users to make payments.

Products And Assets 

The eToro trading platform offers users various trading assets, including stocks, ETFs, Indices, Commodities, currencies, NFTs, and cryptocurrencies. Since we are interested in crypto, we will only focus on the cryptocurrencies offered by eToro. Users can access over 70 major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. Major cryptocurrencies available on eToro are:

Features 

We’ve already mentioned that eToro offers its users several unique features. These include Copy Trading, Social Trading, and Smart Portfolios.

Crypto Copy Trading

eToro is also one of the best crypto trading platforms in the UAE for copy trading. This feature allows eToro users to mirror the trades done by high-performing, professional traders on the platform with the click of a button. All you have to do is set the amount you wish to allocate to the trades. Once done, eToro automatically allocates the funds proportionally to mirror the position the chosen trader takes. Additionally, there is no limit to the number of trades that users can copy.

eToro Copy Trading

Users can choose from thousands of professional traders depending on their trading goals. The minimum investment required for copy trading on eToro is $200.

Smart Portfolios 

Smart Portfolios are innovative, long-term investment portfolios created by expert analysts at eToro. Each portfolio has a distinct investment strategy, allowing users to access global markets conveniently.

Social Trading 

eToro has one of the largest trading communities in the world. Small wonder then its Social Trading feature is so popular. eToro’s Social Trading feature functions as a new feed, allowing users to view the activities of other traders on the platform. Users can interact with others, comment on their activities, discuss trades and market activity, or simply “Like” the trades of other users.

Fees And Payment Methods 

Let’s take a look at the fee structure on the eToro. eToro charges a 1% fee on all crypto trades. However, it does not charge a fee for trading stocks or ETFs, although users must pay a variable spread on every trade. A spread refers to the difference between the offer price and the asking price on the platform.

Let’s understand this better with the help of an example. If you purchase $100 worth of Bitcoin, you must pay a 1% fee plus the spread. While these fees are high compared to other platforms, they are nowhere close to the highest.

eToro does well to explain its fee structure on its website. However, it could be more transparent when it comes to its charges. Users often have no idea how much they pay when making a trade. Most other platforms display the fees and additional charges when finalizing the trade.

The minimum trade size on eToro is just $10, making it an excellent choice for beginners. Users can also access a demo account, which allows them to test their trading strategies before deploying them in the market. It also offers automated trading tools and fractional investing.

When it comes to payment methods, eToro offers users a plethora of options. Currently, it supports debit cards, credit cards, bank wire transfers, and e-wallets such as PayPal, Skrill, and Neteller. Regarding regulations, eToro is regulated by the ASIC, FCA, CySEC, and SEC. The Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA) regulates the platform in the Middle East.

Pros:
  • eToro offers an extremely user-friendly trading platform
  • Supports an array of payment modes (debit card, credit card, bank wire transfers
  • Offers users demo accounts
  • Allows users to invest in stocks, ETFs, commodities, and crypto
  • Debit card deposits are free
Cons:
  • Lacks advanced trading tools

Cryptoassets are unregulated & highly speculative. No consumer protection. Capital at risk.

2. Kraken – Simple crypto trading platform ideal for beginners

Kraken is considered to be one of the best crypto trading in the UAE that has been offering digital currency trading since 2013. It is a fully functional platform offering an excellent selection of cryptocurrencies and low trading fees.

Kraken platform supports over 200 major cryptocurrencies and offers users access to spot trading at current market rates and cryptocurrency futures. These features make Kraken an excellent choice for traders looking for access to cryptocurrencies at low fees. The platform also offers users access to margin accounts and futures trading, aimed primarily at more advanced traders.

Kraken offers users two distinct trading platforms, Kraken and Kraken Pro. Beginners and casual traders can opt for the main Kraken platform. Meanwhile, more experienced traders prefer the low-cost and advanced Kraken Pro platform. As of 2023, Kraken is the third-largest crypto trading platform, with daily trading volume regularly crossing the $400 million mark.

Cryptocurrencies Offered 

Kraken offers users over 200 cryptocurrencies to trade. While this may not be the most extensive selection, it is comparable to most major crypto trading platforms and more than what other platforms generally offer. Additionally, Kraken offers high liquidity, allowing users to buy and sell crypto easily. Major cryptocurrencies available on Kraken are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin DOGE)
  • Solana (SOL)
  • Litecoin (LTC)
  • Sushiswap (SUSHI)
  • Stellar Lumens (XLM)
  • Cardano (ADA)
  • Uniswap (UNI)
  • USD Coin (USDC)
  • Dai (DAI)
  • Tether (USDT)

You can access the complete list of available cryptocurrencies on the Kraken website. The platform also supports major fiat currencies such as USD, EUR, and GBP.

Security On Kraken 

Kraken is well known for its security and has not suffered a major hack since its inception. This speaks volumes about the platform’s commitment to security. The platform encourages users to be proactive when it comes to account security, encouraging them to enable two-factor authentication to secure their accounts.

Kraken also allows users to set different authentication codes for signing in, withdrawing funds, and trading. Additionally, users can lock their Kraken account if they suspect it has been compromised.

Fees On Kraken 

The fees on Kraken are on par with other crypto trading platforms. While it isn’t the lowest, its fees are lower than some of the platforms mentioned in our list. However, this is expected as trading fees differ from platform to platform and also depend on how much you trade each month. You must always check the fee for deposits and withdrawals as well as how much you would end up paying for each trade.

In Kraken’s case, fees are straightforward, with the platform charging a percentage of the trade’s value. Additionally, it also charges a spread. Any additional fees applicable depend on the funding method, such as credit and debit card fees. On the other hand, Kraken Pro fees are lower, based on the trader’s trading volume over the past 30 days.

Regulation 

Kraken is a highly regulated crypto trading platform regulated by a number of entities in different jurisdictions. In the USA, the platform is regulated by FinCen, while FINTRAC regulates the platform in Canada. In the UK, Kraken is regulated by the FCA. Other bodies regulating the platform are AUSTRAC in Australia and the FSA in Japan.

Kraken received its UAE license in April 2022 from the Abu Dhabi Global Market (ADGM), allowing the platform to service the Middle East and North Africa (MENA) region.

Features 

Kraken is one of the few crypto exchanges that offers margin, stop orders, and crypto short sales. It also offers a dark pool feature that allows high-volume traders to trade anonymously. Traders can leverage a currency pair by up to 5x, allowing professional clients access to up to $500,000 in margin. However, remember that margin trading comes with considerable risks.

Additionally, Kraken offers users two distinct platforms, Kraken and Kraken Pro. The former is ideal for beginners, allowing users to quickly verify accounts and begin trading. On the other hand, Kraken Pro offers advanced trading tools and features, allowing traders to execute complex trades. Users can also access active charts and detailed asset information.

Pros:
  • Offers a robust selection of cryptocurrencies
  • Fees are reasonable
  • Offers advanced trading features
  • Known for its security features
Cons:
  • Starter account comes with limited features

3. Skilling – Excellent platform known for its mobile trading offering

Skilling is the next online broker to consider when searcing for the best crypto trading platforms in the UAE.

The popular crypto platform is beginner-friendly and offers users access to 55 major cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Despite a robust selection of crypto offerings, Skilling is primarily a CFD broker, offering access to over 900 financial instruments, including currency pairs, stocks, indices, and commodities. However, we will focus on the crypto offering only.

The platform was founded in 2016 by industry veterans and received its authorization and license from the Cyprus Securities and Exchange Commission (CySEC) in 2017.

Features 

Skilling offers users several features, providing a secure trading environment for crypto trading. Skilling also offers advanced trading tools and features such as stop-loss orders, margin trading, and limit orders. Users can also set up automated trading bots to execute trades on their behalf. The platform also offers users several charting tools, technical indicators, and drawing tools to help make informed trading decisions.

Additionally, Skilling offers users a dedicated educational section, giving them the tools and knowledge to better understand the crypto ecosystem. This educational section includes a comprehensive selection of videos, webinars, and articles.

Skilling offers two types of accounts: basic and premium accounts. The basic account is open to all users. However, the premium account requires a minimum deposit of $5000.

Trading Fees 

Another reason why Skilling is worth considering when exploring crypto trading in the UAE is the low Fees. The trading feees on Skilling are relatively straightforward, with the platform charging a maker fee and a taker fee. The maker fee is 0.1%, and the taker fee is also 0.1%. This is quite low compared to other crypto trading platforms, making it an attractive alternative to traditional crypto trading platforms.

Skilling also levies a withdrawal fee, set at 0.0001 BTC or its equivalent in fiat. Like its maker and taker fee, this fee is also considerably low when compared to other crypto trading platforms.

Pros:
  • Skilling offers users highly competitive trading and withdrawal fees
  • Offers a robust selection of cryptocurrencies.
  • Employs standard security practices such as 2FA
Cons:
  • Liquidity on the platform can be low, which could hinder trades

4. Binance – The world’s largest crypto trading platform by trading volume

Binance is the world’s largest crypto trading platform, offering users access to over 500 cryptocurrencies. Apart from a humongous selection of cryptocurrencies, Binance also offers many other services such as staking, access to derivatives markets such as futures and options, and crypto loans.

Binance offers traders a plethora of trading tools and features for traders of all experience levels. While the trading interface may look intimidating to the untrained eye, it is relatively straightforward to grasp for users with some experience. Even if you are a beginner, you can get used to the platform in no time.

Binance Crypto Trading Platform UAE

Changpeng Zhao established the crypto trading platform and quickly established itself as the world’s largest and best-known crypto trading platform. As of 2023, the platform had over 150 million registered users, dwarfing other platforms. Binance, through its mobile and desktop offerings, gives users access to a plethora of trading features.

This includes a highly impressive selection of charts, market analysis tools, and hundreds of cryptocurrencies. Additionally, Binance offers a learning platform and NFT marketplace.

Cryptocurrencies Available 

As of 2024, Binance offers over 400 cryptocurrencies to users on its platform. It also supports major fiat currencies such as USD, AUD, GBP, EUR, and INR. Currency pairs are also available depending on your location. Some of the popular cryptocurrencies available on Binance are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Shiba Inu (SHIB)
  • Stellar Lumens (XLM)
  • Solana (SOL)
  • Polygon (MATIC)
  • Cosmos (ATOM)
  • Compound (COMP)
  • Dash (DASH) 
  • Uniswap (UNI)
  • SushiSwap (SUSHI)
  • Harmony (ONE)
  • Tether (USDT)
  • USD Coin (USDC)

Trading Experience 

Binance gives users two distinct offerings: the Binance exchange and the Binance online wallet. The Binance exchange allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and hundreds of other crypto assets. It also offers users advanced and intermediate trading tools, allowing traders to study market price movements and conduct technical and market analysis. Trading tools include real-time charting tools with moving averages and exponential moving averages.

The platform also allows users to earn a passive income. However, users must remember that there are risks involved. Binance offers several ways through which users can earn interest, offering higher interest rates than some of the platforms mentioned on our list.

The Binance online wallet gives users access to a hot wallet where they can view their balance and deposit and withdrawal addresses.

Fees

Binance is a clear winner when it comes to fees, as they are among the lowest in the crypto space. When trading on Binance, users can pay a standard transaction fee of 0.1% per transaction when using other cryptocurrencies as trading pairs. However, users can lower the fee even further by using BNB, which gives different discounts depending on how old the account is. Users may also be subject to other trading and non-trading fees.

In the first year of using the platform, users are eligible for a discount of 50% when using BNB. Users are eligible for a 25%, 12.5%, and 6.75% discount in their second, third, and fourth year. However, they cannot avail of a discount using BNB from the 5th year onwards.

When it comes to supported payment methods, Binance supports credit cards, debit cards, cryptocurrencies, and bank wire transfers. The minimum deposit when using bank transfers is $10, while debit and credit cards have a minimum deposit of $15.

Customer Service

Binance offers users three basic options when it comes to customer support. Users can submit a ticket, ask basic queries via the platform’s chat function, or reach out to the platform via X. Binance has a dedicated X account to address customer grievances and actively encourages users to tweet their issues to the company. Additionally, Binance provides a chatbox on its web platform that can be used for instant assistance.

Regarding security, Binance uses 2FA to secure accounts through Google Authenticator or SMS. It also offers address white-listing, device management, and the ability to restrict device access.

Pros:
  • Offers a vast selection of cryptocurrencies
  • Fees among the lowest
  • Multiple trading pairs
  • Globally available
Cons:
  • A deposit fee of 2% is applied on credit and debit card deposits

Read More: eToro vs Binance: Which platform is better?

5. AvaTrade – Highly regulated platform offering a secure trading environment

The next platform in our guide on the best crypto trading platforms in the UAE is AvaTrade. AvaTrade is primarily a CFD broker, giving traders access to over 800 markets. These include forex, stocks, commodities, indices, ETFs, bonds, and crypto.

AvaTrade Bitcoin Broker

The platform also supports third-party trading software such as MetaTrader 4 and 5 and an award-winning mobile app, AvaTradeGo. The platform was founded in 2006 and is highly regulated across multiple jurisdictions such as Australia, Europe, UAE, Japan, etc.

As mentioned earlier, AvaTrade is primarily a CFD broker. However, it also gives users access to major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. Currently, the platform offers only 20 cryptocurrencies,

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dash (DASH)
  • Stellar Lumens (XLM)
  • EOS (EOS)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Chainlink (LINK)
  • Polygon (MATIC)
  • Uniswap (UNI)
  • Wrapped Solana (WSOL)

Features 

AvaTrade offers users a simple and intuitive interface that can be accessed directly from a web browser. The platform also offers third-party compatibility with MetaTrader 4 and 5 and a demo account. Users can sign up on the demo account without making a deposit. Users can also access Copy Trading and Social Trading through the DupliTrade platform.

Fees

AvaTrade does not charge a trading fee when it comes to crypto trading. However, the platform does charge a spread beginning at 0.15% for BTC/USD. More volatile cryptocurrencies are charged higher spreads.

Pros:
  • There is a limited but strong selection of cryptocurrencies on offer
  • Highly secure trading platform
  • Dedicated mobile application
  • Highly regulated
Cons:
  • High inactivity fee

6. Exness – Offers users a unique trading experience

Exness allows users to trade all major asset classes at zero commission. This includes over 35 cryptocurrencies, including major ones such as Bitcoin, Ethereum, and Litecoin. The platform offers a range of professional trading tools and account types suitable for traders of all experience levels.

For example, Beginners on Exness can access a free demo account and micro-lots for low minimum trades. For more experienced traders, Exness offers the Exness terminal. Alternatively, they can also use MetaTrader for their trades. One of the platform’s best features is its educational content, allowing traders to access articles and videos.

Exness Crypto Trading Platform

For experienced traders, there is a selection of markets, including forex, stocks, and crypto. Exness offers users five different account types. Regular traders can use the standard account, which offers low minimum deposit limits and access to most features. Traders can also access other account types depending on their trading goals and experience. The platform’s standard Cent account gives users smaller trade sizes.

Meanwhile, the Raw Spread and Zero accounts are ideal for high-volume traders. The Pro account is best suited for traders who demand instant execution of their trades.

Cryptocurrencies Available 

Exness offers users access to over 30 cryptocurrencies. These include, 

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Polkadot (DOT)
  • Solana (SOL)
  • Aave (AAVE)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Bitcoin (BTC)
  • Filecoin (FIL)
  • Polygon (MATIC)

The complete list of cryptocurrencies is available on the Exness website.

Fees 

Exness does not charge any commission fees when users buy or sell crypto. However, users must pay a spread that starts from 8.5 pips. However, this can be considerably more for volatile assets. Additionally, Exness does not offer staking features.

Pros:
  • Users can trade all asset classes at zero percent commission
  • Highly competitive spreads
  • Decent selection of cryptocurrencies
Cons:
  • Restricted in some jurisdictions

7. Plus500 – Trusted platform known for its reliability and transparency

The final provider to consider on this list of the top crypto trading platforms in the UAE is Plus500. This broker has a reputation for being one of the most transparent and reliable platforms in the market. Fees on the platform are clear, meaning traders know exactly what they are paying for. It gives traders access to over 2800 trading instruments, including CFDs, forex, commodities, and cryptocurrencies.

Plus500 Crypto Trading Platform

Plus500 offers something for all traders, no matter their trading experience. Zero commissions and tight spreads make Plus500 a popular choice among traders. Users on the platform can trade cryptocurrencies via CFDs. A key feature of the platform is its trading tool, Insights. Insights leverages real-time data and helps identify profitable trades and other valuable trading information.

Assets Available 

Let’s look at the assets offered by Plus500. Currently, the platform offers CFDs in the form of 71 currency pairs, 19 cryptocurrency pairs, equity CFDs, 23 commodities, 1737 equity CFDs, 97 ETFs, 34 Index CFDs, and 877 options contracts. We will focus primarily on Plus500’s crypto offering.

Plus500 offers two types of accounts: a demo account and a live account. A demo account can be opened for a fee, allowing traders to test their trading strategy without risking actual funds. On the other hand, a live account requires traders to deposit a minimum of $100 before they can start trading.

Plus500 offers 19 crypto CFDs available on Plus500, including Bitcoin, Ethereum, and a selection of select altcoins. Some of the currency pairs available on the platform are

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Stellar (XLM)
  • EOS (EOS)
  • Axie Infinity (AXS)
  • Polygon (MATIC)
  • Uniswap (UNI)
  • Chainlink (LINK)
  • Solana (SOL)
  • Polkadot (DOT
  • VeChain (VET)
  • Filecoin (FIL)
  • NEO (NEO)

Fees 

Regarding fees, Plus500 does not charge a direct fee for trading crypto. However, the platform does charge a spread that varies for each crypto pair. The average spread for crypto on the Plus500 platform is 2%.

Pros:
  • Offers an excellent mobile platform
  • Risk management tools
  • Robust selection of crypto trading pairs
  • Offers a free demo account
Cons:
  • No dedicated educational section or trading information
  • Website design could be better
  • No compatibility with MetaTrader

What Is A Crypto Trading Platform?

A crypto trading platform is a platform that allows traders to buy, sell, and trade cryptocurrencies and other digital assets. These platforms work similarly to a traditional stock broker, facilitating the trade of crypto assets.

There are two types of crypto trading platforms: centralized and decentralized. Let’s look at each individually.

Centralized Trading Platform 

A centralized crypto trading platform functions like a traditional stock market broker, acting as an intermediary and facilitating trades. A single entity or centralized authority typically owns these types of platforms. This entity maintains complete control of transactions on the platform and the accounts operating on it. This means the platform must approve all transactions. Centralized trading platforms require users to place all their trust in the platform.

Now, these types of trading platforms have their advantages. For one, they offer a high level of liquidity. Liquidity refers to the ability of an asset to be sold without too much price movement or loss of value. Centralized platforms generally offer a higher level of liquidity than their decentralized counterparts. The second advantage is speed. Centralized trading platforms offer quick transactions and relatively low fees. Additionally, centralized trading platforms offer some recourse when it comes to users losing access to their assets by misplacing their login credentials. Users can verify their identity and regain access to their assets.

However, centralized trading platforms also have their disadvantages. Because these platforms are responsible for trades worth billions every day, hackers often target them. These hackers often target user funds and data. Some of the most notorious hacks have been orchestrated on centralized trading platforms. One such example is the Mt. Gox hack.

Decentralized Trading Platforms

Unlike their centralized counterparts, decentralized exchanges are autonomous decentralized applications that run on a distributed ledger infrastructure. These platforms allow users to trade cryptocurrencies without needing a centralized authority. Centralized trading platforms require traders to submit a host of information and documentation to comply with KYC requirements.

However, decentralized trading platforms are autonomous and provide greater anonymity and control to users. Additionally, they don’t require users to submit extensive personal details or documentation. Several decentralized exchanges exist in the market, such as Uniswap, Kyber, Sushiswap, and dYdX.

Decentralized trading platforms offer several advantages, such as self-custody and greater asset control. They also give users a higher degree of security and privacy as they are not required to submit personal information or documentation. However, they also have a few disadvantages, such as low liquidity and the risk of blockchain interoperability.

Hybrid Trading Platforms 

Hybrid trading platforms are a recent phenomenon, combining the strengths of centralized and decentralized trading platforms. They utilize the centralized matching of orders and combine them with decentralized storage. These platforms offer greater privacy but suffer from low trading volumes and liquidity.

Cryptocurrency In The UAE 

The UAE has, in recent years, emerged as a global hub when it comes to cryptocurrencies. In recent years, it has undergone a considerable strategic shift focusing on finance and technology. The UAE government has proactively created a regulatory environment for crypto firms and trading platforms.

Cryptocurrency In The UAE 

Regulatory bodies such as the Securities and Commodities Authority have been at the forefront of establishing a regulatory framework for crypto assets. The UAE introduced a compulsory regulatory market for using cryptocurrencies as part of these efforts. This regulatory market was implemented on the 31st of August, 2023. Under these regulations, crypto companies must work as authorized, fully regulated entities under the virtual resources controller.

These controllers are the Abu Dhabi Worldwide Market (ADGM) in Abu Dhabi and the Virtual Asset Regulatory Authority (VARA) in Dubai.

How We Ranked The Top UAE Crypto Trading Platforms 

In the sections above, we reviewed and ranked the best online crypto trading platforms in the UAE for 2024. Still not sure how to select a good platform? There are several factors and key metrics that we focused on during the research process.

Ease Of Use

User experience is crucial when it comes to crypto trading. A crypto trading platform must offer its users an easy-to-use interface that makes trading seamless. At the same time, it must provide advanced features for more experienced traders. The platform must also offer users a dedicated mobile app so traders can make trades and view their portfolios from any location. The platform should also offer support for third-party integrations and software.

Fees

It is crucial to understand the fee structure of a platform before signing up. This is because the fees and commissions differ between platforms. You must also check for non-trading fees such as deposit and withdrawal fees. Additionally, if you are margin trading, you must also check the interest rates.

Supported Assets

Supported assets vary from platform to platform. If you want to trade cryptocurrencies apart from Bitcoin and Ethereum, you must select a trading platform that offers a vast selection of crypto assets. A larger asset selection also helps traders diversify their portfolios from a single trading platform.

Minimum Deposits

Another crucial factor traders must consider is minimum deposits. A majority of crypto trading platforms do not require a minimum deposit. This makes them an ideal choice for beginners. However, advanced trading platforms impose a minimum deposit requirement. These requirements can vary from anywhere between $20 to $200.

Casual traders and beginners generally prefer platforms that don’t have a minimum deposit requirement. On the other hand, more experienced traders prefer platforms that have a minimum deposit requirement. This is primarily because these platforms offer advanced trading tools and features.

Account Verification

Each platform takes a different approach to account verification. Generally, users are asked to furnish personal details such as full name, phone number, and email address. Users are also asked to provide a form of ID and proof of residence. It is always a good idea to check the verification process of your chosen platform. This lets you keep the relevant documentation, ensuring a seamless signing-up process.

Regulations

Safety and regulations are the most important factors traders must consider when selecting an exchange. A platform that complies with the relevant laws, KYC, and AML requirements. The Securities and Commodities Authority (SCA) is the primary regulatory body overseeing the crypto ecosystem in the UAE.

Customer Support

Customer support is another crucial factor to consider when selecting a crypto trading platform. The best crypto trading platforms offer users prompt assistance through various modes. Some platforms provide users access to live chat features, which means response times are almost instant. However, others use a system where users must raise a ticket. In such scenarios, response times are slow, often taking a couple of days.

Prompt customer support is vital. This is because access to quick customer support gives users confidence when trading and facilitates a positive trading experience.

Mobile Application

Crypto trading platforms are expected to give users a dedicated mobile application. A mobile app makes the platform more appealing to users since it allows them to trade on the go, make quick adjustments to trades, and respond instantly to market developments. Almost all crypto trading platforms offer users a dedicated mobile application compatible with Android and iOS.

Storage

Users are spoilt for choice when it comes to altcoin exchanges. However, picking a reputable exchange is crucial. Select a platform that stores user funds in segregated accounts and, ideally, offline in cold wallets. Storing assets in cold storage adds an extra layer of security to user funds.

How to Trade Cryptos in the UAE

In this section, we explain the basics steps of how to trade crypto in the UAE with a regulated platforms. In this example, we will use eToro as our choice for the best crypto trading platform in the UAE.

Step 1: Create An Account 

Sign up via etoro

As the title suggests, the first step is to create an individual account on eToro. To do this, visit the eToro website and click on “Sign Up.” You will then be prompted to enter a few personal details, such as your name, address, mobile number, and email address. Once you submit these details, eToro will send a verification code to your mobile device. Additionally, you will be required to verify your email address and create a strong password for your account.

Step 2: Complete KYC 

Once you have created your account, you must complete the mandatory KYC and AML requirements. You must submit a copy of a government-issued ID and additional personal details to do this. These will be verified by eToro independently. KYC and AML are required to ensure no fraudulent activity takes place on the platform.

Step 3: Deposit Funds 

After completing your account verification, you can deposit funds into your eToro account. When it comes to deposits, eToro supports a number of payment methods. These include debit cards, credit cards, bank wire transfers, and e-wallets.

Step 4: Choose Cryptos Market 

Supported Coins

Now, you can finally begin trading. Search for the asset you wish to trade using the “Search” function on the platform. After selecting the asset, click the “Trade” button to get started.

Step 5: Place Crypto Trade

Buy Ethereum

After you click on the “Trade” button, you will be presented with a simple form. Fill in the required information and then click on the “Open Trade” button to begin trading.

Conclusion 

In this guide, we have gone over several aspects of the crypto market in the UAE and have studied each platform in our guide in detail and discussed their pros and cons, assets supported, fees, and other important considerations. We also discussed the factors traders must consider when selecting a crypto trading platform.

To get started with the best crypto trading platforms in the UAE – eToro, it takes just mintues to sign up. The platform offers users a simple interface with advanced features and trading tools.

eToro Logo

eToro Exchange

  • Free Copy Trading of Professional Traders
  • Best Crypto Trading Platform
  • Minimum Deposit Only $50
  • Best Beginner Stock Exchange
  • Open to UAE & Worldwide
9.9

5 Stars

Cryptoassets are a highly volatile unregulated investment product.

FAQs

What Is The Best Crypto Trading Platform In The UAE? 

Our detailed analysis found that eToro is the best crypto trading platform in the UAE.

eToro and Binance have the lowest trading fees. Both platforms offer a seamless trading experience at competitive rates.

Most crypto trading platforms offer users a dedicated hot wallet. Alternatively, you can set up a wallet like MetaMask and transfer your funds.

We found eToro to be the safest crypto trading platform in the UAE. eToro offers users secure storage and ample transparency when it comes to user funds.

Yes, crypto is legal in the UAE, and you can purchase and sell crypto using an exchange. However, remember that some crypto trading platforms are not fully regulated. Some financial institutions may also restrict crypto purchases or deposits on crypto trading platforms.

Yes, purchasing and trading crypto in the UAE is completely safe if you use a regulated and reputed crypto trading platform. Always choose an exchange that segregates customer funds and stores them offline in cold storage.