What are the best alternatives to eToro in the UAE?
Verdict
- If you're leaving eToro in the UAE, Pepperstone is our first alternative, especially for lower CFD costs and MetaTrader, cTrader or TradingView; Capital.com and XS follow.
- eToro's EUR/USD starts from 1 pip ($10 a lot); Pepperstone's Razor averages 0.1 pips plus a $7 round-trip commission, about $8.
- eToro keeps two advantages, an Abu Dhabi FSRA licence and an Islamic account from $1,000; Capital.com matches both with a UAE CMA licence and swap-free accounts for UAE residents.
- Pepperstone's UAE site has no copy-trading page, so if copying other traders is why you use eToro, check what's available before you move.
eToro is an easy place to start, but many UAE traders outgrow it once they trade CFDs regularly and the spread starts to bite. Here is what you gain and lose with each alternative.
Pepperstone: lower CFD costs and more platforms
Moving from eToro to Pepperstone changes price and tools most. Instead of eToro's 'from 1 pip' on EUR/USD, Pepperstone's Razor averages 0.1 pips with $3.50 per side, and its Standard account averages 1.1 pips with no commission. You can trade from MT4, MT5, cTrader, TradingView or Pepperstone's app rather than a single in-house platform. You also gain an AED base currency, which eToro's local-currency list (GBP, EUR, AUD, DKK) lacks, and UAE bank transfers through Mashreq Bank or Barclays.
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What you give up by leaving eToro
- An onshore licence: eToro (ME) Limited is authorised by the FSRA in Abu Dhabi Global Market, whereas Pepperstone's UAE CFDs come from its Bahamas-licensed company.
- An Islamic account: eToro offers one from $1,000, with a 7-day grace period before admin fees. Pepperstone does not offer swap-free accounts to UAE residents.
- Copy trading on the same platform: Pepperstone describes copy-trading tools on its international site only, and the UAE site has no such page.
Cost of switching, worked out
Take a trader doing five EUR/USD lots a week. At eToro's minimum of 1 pip, that is at least $50 a week in spread. On Pepperstone Razor through MT5 it is about $40 (five × $8), through cTrader about $35, and on Standard about $55. The saving comes from Razor: Pepperstone's commission-free Standard average is no cheaper than eToro's best case.
Capital.com and XS, the other two options
Capital.com is the natural step for eToro users who want an easy in-house platform and an onshore UAE licence, with MetaTrader and TradingView added. XS suits traders who want swap-free MetaTrader with published raw pricing: its Elite account averages 0.1 pips on EUR/USD, plus a $6 round-turn commission.
| Capital.com | XS | |
|---|---|---|
| UAE licence | CMA 20200000176 (Dubai) | CMA 20200000339 (financial-consultation company) |
| Swap-free for UAE residents | Yes, on request | Yes, applied automatically on MT4 and MT5 |
| Platforms | Own web platform and app, MT4, MT5, TradingView | MT4, MT5, XS app |
| Entry point | $20 minimum | $500 for the Elite account |
| AED account | Yes | No |
Sources
Pricing, licences and account terms as published.
Is Pepperstone cheaper than eToro?
For CFDs on Razor, yes: about $8 per EUR/USD lot on MT5 against at least $10 at eToro. Pepperstone's Standard account (about $11) is not cheaper than eToro's minimum.
Which eToro alternative has an Islamic account in the UAE?
Capital.com and XS. Pepperstone's swap-free account isn't open to UAE residents.
Which alternatives offer an AED account?
Pepperstone and Capital.com. XS lists USD, EUR and JPY.
Does Pepperstone have copy trading in the UAE?
Its UAE site has no copy-trading page; copy-trading tools are described on its international site only, so ask support before you switch.
CFDs are complex, leveraged products, and you can lose money quickly. Make sure you understand the risks and can afford the loss before you trade. This comparison uses broker-published terms and is not investment advice; verify current terms with each broker before opening an account.