eToro, the global trading and UAE investing platform, has added stocks listed on the Abu Dhabi Securities Exchange (ADX) to its platform. The launch follows an agreement signed last year between ADX and eToro, aimed at broadening investor access to the UAE’s stock market.
eToro UAE Review: Trade local and international stocks and markets
Name: eToro UAE
Description: in 2023 eToro was granted permission by the Abu Dhabi Financial Markets Authority or ADGM, to operate in the UAE as a broker in securities, derivatives and crypto assets.
Can you trade with eToro in the UAE?
Yes, eToro’s global community can now invest in over 30 companies listed on the ADX, gaining exposure to a diverse range of sectors, including energy, real estate, banking, finance, technology, and healthcare. The ADX-listed companies have a combined market capitalization exceeding USD 700 billion(1), reflecting the exchange’s significance as a growing financial hub.
Pros
- Simple platform & app
- Local ADX stocks
- Access to global markets
Cons
- No DMA
-
Pricing
(4.5)
-
Market Access
(5)
-
App & Platform
(5)
-
Customer Service
(5)
-
Research & Analysis
(5)
Overall
4.9eToro in the UAE
The UAE is becoming an increasingly popular destination for margin trading and multi-asset brokerages, sitting as it does mid-way between European and Far Eastern markets.
However, many firms have pursued licences in Dubai rather than in the neighbouring emirate of Abu Dhabi.
The founder and CEO of eToro Yoni Assia said of the new license:
“The approval of our operating licence by ADGM is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognised as a growing fintech hub, and we are excited to become part of this flourishing ecosystem”
The Chief of Market Development at ADGM, Arvind Ramamurthy said of the news:
“We are delighted to welcome eToro to ADGM. We are confident that ADGM’s dynamic ecosystem and progressive regulations will enable eToro’s vision, ADGM is the largest regulated jurisdiction of virtual assets in the MENA region”
He added that
“eToro’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers, and reinforce the UAE’s strategic value to global finance.”
Under its new license, eToro will be able to deal in investments as a matched principal, arrange deals in investments, and also provide custody services and manage client assets.
eToro has appointed Jason Hughes and George Naddaf to run the new Abu Dhabi operations and it has registered a local office in the Al Sarab Tower on Al Maryah Island.
eToro’s history
Israeli-based eToro was founded in 2007 and has grown into one of the world’s biggest retail brokers with over 34 million registered users on its platform, and operations in more than 100 countries.
That’s largely thanks to its intuitive trading platforms, wide product and asset class offering, and a focus on retail customers of all sizes, with a particular emphasis on social trading, under which traders can follow and copy the trades of their more experienced peers.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
