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Wikitoro author Wikitoro Team Written by Wikitoro Team
Wikitoro fact checker Mike Druttman Fact checked by Mike Druttman
Updated Feb, 2024

Introduction

Having personally navigated the world of online trading through eToro, particularly within the dynamic market of the United Arab Emirates, I've gained a wealth of firsthand experience and insights that I'm eager to share. This broker's extensive network, which includes the UAE, presents a unique set of opportunities and challenges for investors in this region.

As someone who has actively engaged with the platform, I understand the importance of being well-informed before diving into the trading environment. This guide is a culmination of my direct experiences and thorough research, tailored specifically for potential investors in the UAE. It's not just a collection of general tips; it's a comprehensive, up-to-date resource that reflects the latest market trends and regulatory nuances relevant to UAE traders.

From the initial steps of registration to the intricacies of managing trades, this guide is designed to be both practical and insightful. It's a product of my dedication to providing reliable, safe, and accurate information, ensuring that fellow traders can approach eToro with confidence and a deeper understanding of what to expect. My goal is to help you make informed decisions, leveraging eToro's capabilities to your best advantage.

Key details for UAE residents of eToro
🇦🇪 Accepts UAE Traders✔️
💰 Minimum Deposit $50
🛍️ Market TypesStocks, Commodities, Currencies, Indices, Crypto, ETFs
🏢 Company NameeToro (ME) Limited
📍 AddressOffice 207 and 208, 15th Floor Floor, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates
🏛️ RegulationFinancial Services Regulatory Authority (FSRA)

Open an account!

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

 

License from the FSRA

Is eToro available in UAE? It's important to know first if this broker has a license to operate from financial authorities to answer this question. The good news is that their local entity, eToro (ME) Limited, operates under the regulatory framework of the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA), holding a valid license and adhering to its stringent regulations.

 

UAE Office

So, does eToro have an office in the UAE? When I first wrote this article, the company which handles accounts for UAE clients used to be eToro AUS Capital Limited. Now, the broker's local entity that handle this is eToro (ME) Limited.

However, things have changed and as they increase their presence in this country, I am glad to inform you that they now have a physical office at Al Maryah Island, Abu Dhabi.

 

UAE Phone Number

You wonder what is the contact number for eToro UAE now that it has a physical office. Although this broker now has a presence in this country, they still don't have a dedicated local phone service for customer service purposes.

Despite this, their support team can be accessed through various channels:

  • Support ticket: Upon logging into your account, a support ticket can be initiated using your registered email address. 
  • Live chat: The live chat feature offers real-time interaction, operating on a 24/5 schedule. Do take note that this is only available on weekdays. 
  • Email: Direct communication can be established via email without the need for accessing a contact form. Queries can be sent directly to support@etoro.com.

Both the support ticket and live chat can be accessed via the Customer Service Center page or by navigating directly to the following link: etoro.com/customer-service.

 

Platform

eToro trading platforms are accessible in two distinct formats. For those who appreciate the fluidity of a web-based platform, or prefer the mobility of a smartphone application - compatible with both Android and iOS devices (iPhone or iPad), eToro ensures a uniform trading experience.

These platforms are meticulously designed to grant comprehensive access to all features, enabling you to perform all your trading operations, irrespective of your platform choice.

What I really liked about the platform is that the language can be set to Arabic. To customize your eToro experience to match your linguistic preference, simply visit the Settings menu, select the General sub-menu, and locate the language preference section. This section allows you to opt for your preferred language, including Arabic or "العربية".

 

Deposit Options

For UAE-based investors, this broker provides the convenience of multiple deposit methods to fund their accounts, as follows:

  • Credit/debit cards
  • Neteller
  • Skrill
  • Bank transfer
  • PayPal (this is only available after the 1st deposit)

It's important to note that eToro conducts all transactions exclusively in USD. Consequently, should you deposit funds in Dirhams, the amount will automatically be converted to USD. This process involves a nominal conversion fee.

 

Minimum Deposit for UAE Residents

To initiate trading on eToro, an initial deposit is mandatory, which currently stands at $50 (approximately 196 dirhams). This requirement remains the same for subsequent deposits. However, for those opting for bank transfers as their preferred method, a higher minimum deposit of $500 is necessitated.

 

Fees for UAE Clients

eToro enforces a standard fee policy that equally applies to traders from UAE as well as other nationalities. For instance, maintaining a CFD position open over the weekend incurs an overnight fee at a rate that is consistently applied to all traders, irrespective of their country of residence.

 

Withdrawal Fees

Can I withdraw money from eToro in UAE? This is actually a question that I also often get asked. As per my experience of using the platform for over 3 years now, I am able to take out the funds from my online trading account for many occassions already and so far, I never had any issues.

In terms of withdrawals, the platform imposes a minimum withdrawal limit of $30. Each withdrawal incurs a fixed fee of $5, regardless of the amount being withdrawn. Hence, regardless of whether you're withdrawing $30, $100, or $500, the transaction fee remains constant at $5 per transaction.

 

Trading Emirati Stocks on eToro

At present, eToro doesn't offer trading options for stocks listed on the Abu Dhabi Securities Exchange (ADX). However, they do facilitate trading for shares of Saudi Aramco, a company listed on the Tadawul stock exchange.

Moreover, eToro provides a diverse range of stocks from various international exchanges, which you can delve into, including but not limited to the following:

  • NYSE
  • NASDAQ
  • London
  • Hong Kong
  • Frankfurt
  • Paris
  • Zurich
  • Madrid
  • Milan
  • Stockholm
  • Amsterdam
  • Oslo
  • Copenhagen
  • Helsinki
  • Brussels
  • Lisbon
  • OTC Markets
  • Saudi Arabia
  • Chicago

Bear in mind, transactions involving actual stocks are available exclusively without leverage. Any stock positions utilizing leverage fall under the category of Contract for Difference, or CFD.

 

Registration for UAE Residents

The registration process for UAE-based investors aligns with that of traders from other parts of the world. Initially, prospective users will be asked to define a username, email, and password of their choice.

Don't forget this!

It's imperative to acknowledge and accept the financial terms, disclosure statement, and services guide of eToro (ME) Limited. As this entity is regulated by the Financial Services Regulatory Authority (FSRA) and designated to cater to traders in your locale, it's important for you to check on this.

 

eToro UAE Stats: 4% of Traders Are from the Middle East!

Based on the latest data released from their investor update, the platform boasts 2.8 million funded accounts. Remarkably, as of December 31, 2022, 4% of these accounts were established by users from the Middle East and Africa, a geographic region inclusive of the UAE.

 

Endgame

This guide encapsulates all the knowledge and insights I've gathered from my personal experience with eToro in the UAE. I hope it serves as a valuable resource for you as you embark on your trading journey with this broker.

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. 76% 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.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

Wikitoro author Wikitoro Team About Wikitoro Team

The Wikitoro Team is a dynamic group of five seasoned eToro traders who have been actively using the platform since 2018. As pioneers in establishing the Wikitoro wiki site, we are dedicated to ensuring the accuracy and reliability of the information we provide. Our team regularly verifies data and content from our authors and contributors, taking turns to meticulously review each piece. Our commitment is to offer our readers factual and precise information, reflecting our extensive experience and deep understanding of the eToro platform.

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