How to buy shares in the UAE (DFM and ADX)

Buying shares of Emaar, Salik, ADNOC Gas or First Abu Dhabi Bank takes two things: an investor number issued by the exchange and an account with a broker that can trade on it. You can also skip the local paperwork and buy a selection of UAE stocks through an international platform such as Interactive Brokers or eToro.

This guide covers both routes step by step: how to get your National Investor Number (NIN) for the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), what each broker charges, the trading hours, how dividends are paid and which option fits which investor.

In short

• Two exchanges for local shares: the DFM in Dubai and the ADX in Abu Dhabi, both supervised by the UAE Capital Market Authority (CMA). Nasdaq Dubai is a third, smaller exchange in the DIFC.
• Local route: get a NIN through the DFM app or the ADX app with UAE Pass, then open a trading account with a CMA-licensed broker. Commissions at a bank-owned broker run around 0.15% on ADX and 0.275% plus AED 10.50 per order on DFM, before VAT.
• International route: Interactive Brokers charges 0.10% on ADX and 0.25% on DFM (minimum AED 5), plus exchange fees. eToro charges UAE residents a flat $2 per trade on a selection of DFM and ADX shares, when you open and again when you close a position.
• Taxes: individuals pay no income tax, capital gains tax or withholding tax on UAE shares and their dividends.

The UAE stock exchanges at a glance

Local shares trade on three exchanges. Most investors only need the first two.

The ADX is the larger market. At the end of 2024 it had 187 listed securities and a market capitalisation of AED 2.9 trillion (about $799 billion), according to figures ADX shared when eToro added its stocks. Big names include First Abu Dhabi Bank, ADNOC Distribution, ADCB, ADIB and AD Ports. The DFM is home to many of Dubai's best-known companies, such as Emaar Properties, DEWA, Salik, Emirates NBD and Dubai Islamic Bank.

Both exchanges are supervised by the Capital Market Authority. This is the former Securities and Commodities Authority (SCA), renamed on 1 January 2026 under Federal Decree-Law No. 32 of 2025. Nasdaq Dubai sits inside the Dubai International Financial Centre and is regulated by the Dubai Financial Services Authority instead. For a wider view of who regulates what, see our guide to financial regulation in the UAE.

Two ways to buy UAE shares

The first decision is whether you go through a local broker with your own investor number or through an international platform that already has access to the exchanges.

Choose a local broker if you want every listed company, plan to subscribe to IPOs or want the shares registered under your own investor number at the exchange.

Choose an international platform if you want UAE shares next to US stocks and global ETFs in one account. Interactive Brokers adds UAE stocks as a trading permission on your existing account. eToro routes its DFM orders through the Dubai broker Arqaam Capital.

Step 1: Get your investor number (NIN)

The National Investor Number identifies you at the exchange's clearing and depository system. Every purchase and sale on a local broker account is recorded against it. The DFM and the ADX each issue their own number.

DFM investor number

• Where to apply: in the DFM app, signing in with UAE Pass, or through a DFM-licensed broker.
• Who can apply: any individual or institution, including non-residents, according to Dubai CSD.
• How long it takes: Dubai CSD says the number can be issued immediately once the request is submitted, and you do not need to visit in person.
• What it covers: the same number lets you trade DFM and Nasdaq Dubai securities.

While you register, the DFM app asks how you want to receive cash dividends: on an iVestor prepaid card or by transfer to your bank account. You can change this later in the app (more on dividends below).

ADX investor number

• Where to apply: the ADX mobile app with UAE Pass, an ADX-accredited broker, an ADX customer service office or the TAMM government portal with UAE Pass.
• Documents: your Emirates ID if you live in the UAE, or your passport and home country ID if you do not. You also need an IBAN letter for a bank account held only in your name, since joint accounts are not accepted.
• Already have a DFM NIN? Since 2022, ADX lets investors with a number from another UAE exchange trade on ADX after an ADX-accredited broker validates it.

Step 2: Open a trading account with a broker

The investor number on its own does not let you trade. You still need a trading account with a member of the exchange, which places your orders.

Banks offer the most common route for residents. Emirates NBD Securities, licensed by the CMA under number 604003, gives access to DFM, ADX, Nasdaq Dubai and Saudi Arabia's Tadawul. Emirates NBD also runs a "trade local, trade free" campaign with zero commission on local equities bought through its ENBD X app, subject to its terms. The full list of members is in the DFM brokers directory.

If you prefer an international platform, the account opening is the same as for any other market: ID, proof of address and a short suitability questionnaire. Our broker comparison tool lets you filter platforms by market access and fees.

Step 3: Fund your account and place the order

Trades on DFM and ADX settle in dirhams. If you hold dollars, the conversion cost is small because the AED is pegged to the USD at 3.6725.

Local trading runs Monday to Friday. The DFM publishes this daily schedule (UAE time):

ADX follows the same pattern: pre-opening from 09:30, continuous trading from 10:00 to 14:45, a closing auction and trading at the closing price until 15:00.

When you place the order you will usually choose between:

• Market order: buys at the best price available right now. Simple, but less control on less liquid stocks.
• Limit order: buys only at your price or better. Useful for smaller companies where the gap between buy and sell prices can be wide.

Trades settle on a T+2 basis, two business days after the trade date. If you only want Shariah-compliant shares, the DFM publishes a Shari'a classification list. Some companies also cap how much of their capital foreigners can own, which you can check on the DFM foreign ownership page.

How much does it cost to buy UAE shares?

Local brokers charge a percentage of the trade value that bundles their own commission with exchange, clearing and regulator fees. International platforms publish their own pricing.

^{Fees as published by each provider in October 2026. eToro's rate applies to UAE residents and is charged both when you open and when you close a position, as shown on its fees page. At Emirates NBD Securities the DFM rate breaks down into 0.125% broker commission, 0.05% market commission, 0.05% CMA commission and 0.05% depository commission, plus the AED 10.50 transaction fee.}

Example: buying AED 10,000 of a DFM stock at Emirates NBD Securities costs AED 27.50 in percentage fees plus the AED 10.50 order fee, so AED 38 before VAT. The same AED 10,000 on ADX costs AED 15 before VAT. On eToro the commission stays at $2 to buy and $2 to sell (about AED 15 for the round trip) whatever the order size. IBKR would charge AED 25 on the DFM order and AED 10 on the ADX order, plus the exchange's own fees.

Interactive Brokers, eToro or a local broker?

Interactive Brokers: for UAE shares and global markets in one account

IBKR gives access to both the DFM and the ADX from the same account you can use for US stocks, Irish-domiciled ETFs and bonds. Commissions are a percentage of the trade with a low AED 5 minimum, and you can now deposit dirhams locally, as covered in our article on IBKR's AED funding in the UAE. The platform takes more time to learn than a simple app. Read our full Interactive Brokers review or open an account with IBKR.

eToro: for small orders on the biggest names

eToro added 10 DFM companies in August 2024, including DEWA, Emaar Properties, Salik and Emirates NBD, and more than 30 ADX companies in February 2025, representing about 88% of the ADX's market value at the time. The flat $2 commission per opening and closing trade suits investors who buy in small amounts. The selection is narrower than at a local broker or IBKR. In the UAE, eToro operates through eToro (ME) Limited, regulated by the FSRA in Abu Dhabi Global Market. See our eToro review, the current eToro welcome offer or visit eToro.

Local broker: for IPOs, sukuk and the full market

A bank-owned or independent local broker gives you every listed share, IPO subscriptions and shares held under your own investor number. You pay for it with higher commissions, especially on DFM, where the AED 10.50 order fee weighs heavily on small trades.

Sarwa: for the global part of your portfolio

Sarwa does not offer DFM or ADX shares. Sarwa Trade covers US stocks and ETFs at the greater of $1 or 0.25% per trade, with a $500 account minimum, and Sarwa Invest builds a diversified global portfolio for $7 per month or an annual fee of 0.4% to 0.85%. Sarwa is regulated by the FSRA in Abu Dhabi Global Market. If you want UAE shares as a smaller position next to a global core, Sarwa is a simple way to build that core. Read our Sarwa review, check the Sarwa promo code or visit Sarwa.

For more options, browse the best stock brokers in the UAE.

Dividends and taxes on UAE shares

Individuals in the UAE pay no personal income tax and no capital gains tax on shares they hold for their own account. The Corporate Tax Law sets withholding tax on dividends at 0%, so you receive UAE dividends in full. Compare this with US stocks, where a 30% withholding tax applies to dividends paid to UAE residents (see our guide on investing in US stocks from the UAE). If you invest through a company or trade as a licensed business, check whether the 9% corporate tax applies to you.

How you receive dividends depends on the route:

• DFM shares on your own NIN: on the iVestor prepaid card or by bank transfer, as chosen in the DFM app.
• ADX shares on your own NIN: to the bank account registered with ADX through your IBAN.
• IBKR or eToro: credited to your platform account.

If you pay zakat on your shares, our zakat calculator helps you work out the amount.

IPOs and government sukuk

A local investor number also gives you access to new listings. The DFM runs IPO subscriptions through its app, and ADX IPOs also require an ADX investor number. The UAE Ministry of Finance's Retail T-Sukuk, the government-backed sukuk sold to individuals from AED 1,000, also requires a valid DFM NIN to subscribe.

Should you buy UAE shares or global ETFs?

UAE shares pay attractive dividends and you already know many of the companies. However, the local market leans heavily towards banks, real estate and energy, so a portfolio made only of UAE shares is concentrated in a few sectors and one economy.

A common approach is to keep global index funds as the core and add UAE shares on top. Our guides to the best ETFs to invest in from the UAE and investing in the S&P 500 from the UAE cover the global side.

Bottom line

To buy UAE shares directly, get a DFM investor number in the DFM app (it can be issued immediately) and, for Abu Dhabi stocks, an ADX number through the ADX app, then open an account with a CMA-licensed broker. Expect to pay about 0.15% on ADX and 0.275% plus AED 10.50 per order on DFM at a bank-owned broker.

If you would rather hold UAE shares next to your global investments, Interactive Brokers covers both exchanges from 0.10% per trade and eToro charges a flat $2 per trade on the largest names. Dividends and gains are tax-free for individuals either way.

Frequently asked questions

Can expats buy shares in the UAE?

Yes. Any individual can apply for a DFM investor number, whatever their nationality, and ADX issues numbers to residents with an Emirates ID. Expats can also buy UAE shares through international platforms such as IBKR and eToro.

Can non-residents buy UAE shares?

Yes. Dubai CSD issues DFM investor numbers to any individual, and ADX accepts a passport, home country ID and an IBAN letter from non-residents. You still need a broker that accepts clients from your country.

How long does it take to get a NIN?

A DFM investor number can be issued immediately after you submit the request in the DFM app. Opening the trading account with a broker usually takes longer, since the broker runs its own identity checks.

Do I need a separate investor number for ADX and DFM?

The two exchanges issue separate numbers. However, ADX lets investors who already hold a NIN from another UAE exchange trade on ADX once an ADX-accredited broker validates it. The DFM number also covers Nasdaq Dubai.

What are the trading hours of the UAE stock market?

DFM and ADX trade Monday to Friday. Continuous trading runs from 10:00 to 14:45 UAE time, with a closing auction and trading at the closing price until 15:00.

Can I buy UAE shares on eToro or Interactive Brokers?

Yes. Interactive Brokers gives access to the DFM and the ADX, with commissions of 0.25% and 0.10% respectively. eToro offers a selection of DFM and ADX companies for a flat $2 per trade, charged when you buy and again when you sell.

Can I start with AED 1,000?

Yes, but fixed fees weigh more on small orders. On a AED 1,000 DFM order, Emirates NBD Securities charges AED 2.75 in percentage fees plus the AED 10.50 order fee, so AED 13.25 before VAT, or 1.3% of the order. IBKR charges its AED 5 minimum (0.5%) plus exchange fees, and eToro charges $2, about AED 7.35 (0.7%), when you buy and the same when you sell. With small amounts, buying less often in larger orders keeps costs down.

Do I pay tax on dividends from UAE shares?

No. Individuals pay no income tax on dividends and the UAE applies a 0% withholding tax rate, so dividends from UAE companies are paid in full.