As a millennial and Gen Z, you are more likely to explore multiple UAE investment opportunities instead of sticking to only stocks and bonds like previous generations.
You are also more likely to prefer beginner-friendly and low-cost mobile investment apps and to desire options like roboadvisors and passive investing.
In this article, we highlight 5 of the best investment apps in the UAE that meet your needs as a millennial or Gen Z.
1.Sarwa: Best overall investment app in the UAE
Sarwa is a UAE-based investment app that offers access to multiple investment assets, including stocks, ETFs, stock options, REITs, cryptocurrencies, and commodities, among others.
Best known for
Sarwa is best known for offering an all-in-one platform that supports both active and passive investors.
Key features
- Supports multiple assets: With Sarwa, you can invest in US stocks, US and local stock ETFs, bond ETFs, REIT ETFs, commodities ETFs, stock options, and cryptocurrencies.
- Supports multiple investment approaches: You can explore active investing through Sarwa Trade or passive investing through Sarwa Invest. With Sarwa Invest, there is an option to choose from conventional, Halal, and socially responsible portfolios.
- Fractional investing: You can invest in a fraction of a share of stocks, ETFs, and cryptocurrencies.
- Low-cost investing: Sarwa charges a competitive commission of the higher of $1 or 0.25% of the traded value on stocks and ETFs, and a 0.40-0.85% annual management fee on passively-managed portfolios.
- Low account minimum requirements: You can start investing on Sarwa Trade and Sarwa Invest with $500.
- Free AED deposits and withdrawals: Transfers between your local bank account and your Sarwa investment accounts are free of charge.
- Educational resources: Sarwa provides a library of educational resources that will make you a better investor. As a millennial and Gen Z investor, you can start by learning how to invest $1,000 in stocks in the UAE.
Ideal for
Sarwa is ideal for beginner investors who want ease of access and advanced investors who want multiple financial instruments.
2.eToro: Best for social and copy trading
eToro is a global investment platform with a license to operate in the UAE. Its offerings include cryptocurrencies, stocks, ETFs, indices, currencies, and commodities.
Best known for
eToro is best known for its social or copy investing product.
Key features
- Access to multiple assets: eToro offers multiple financial instruments from 20 global exchanges.
- Fractional investing: Users can purchase a fraction of a share of a stock and other assets.
- Low-cost investing: Stock trading is commission-free. Also, the commissions on other assets are competitive.
- Social or copy investing: Users can replicate the investment choices of other experienced investors.
Ideal for
eToro is ideal for beginners who want to learn from and replicate the investment choices of experts.
3.Interactive Brokers: Best for advanced investors
Interactive Brokers (IBKR) is a global investment platform available to UAE investors. It provides access to stocks, bonds, mutual funds, spot currencies, spot commodities, futures, and options, among others.
Best known for
IBKR is best known for offering advanced investment platforms to more experienced investors.
Key features
- Broad market access: IBKR has a large product offering from more than 170 markets that investors can choose from.
- Low-cost investing: Stocks and ETFs are commission-free on IBKR Lite and cost $0.005 per share on IBKR Pro. They also have some of the lowest fees on other assets.
- No account minimum: There is no minimum account balance requirement.
- Flexibility with investment platforms: Beginner investors can use GlobalTrader, the beginner-friendly platform, while advanced investors can use Trader Workstation.
Ideal for
IBKR is ideal for advanced investors who need advanced research tools.
4.Wahed Invest: Best for Sharia-compliant investing
Wahed Invest is a global investing platform with a license to operate in the UAE. It offers passively-managed and Sharia-compliant portfolios.
Best known for
Wahed Invest is best known as a Sharia-compliant robo-advisor.
Key features
- Sharia-compliant portfolios: Wahed Invest has a Shariah Review Bureau (SRB) that conducts a comprehensive review to ensure all investments are halal.
- Diversified portfolios: Users gain access to stocks, real estate, gold, and bonds across global markets.
- Flexible portfolios: Wahed Invest offers portfolios that match each investor’s risk tolerance.
- Low minimum investment: Anyone can start investing with just $500.
Ideal for
Wahed Invest is ideal for passive investors who are also concerned about Sharia-compliant investing.
5.StashAway: Best for robo-advisory and automated investing
StashAway is a global investment platform with a license to operate in the UAE. It provides access to stock, REIT, bond, and gold ETFs to both passive and active investors.
Best known for
StashAway is best known for offering access to both public and private markets.
Key features
- Global diversification: Passive investors gain access to expertly managed globally diversified portfolios.
- Curated access to top ETFs: Active investors can create their portfolios from a list of carefully curated ETFs.
- Access to private markets: StashAway allows users to invest in private equity, private credit, and private infrastructure.
- No minimum account balance on public markets investments: There is no minimum account balance for users who stick to public assets. However, private markets investing has a $20,000 entry requirement.
Ideal for
StashAway is ideal for investors who want access to private markets.
