Head to head
Sarwa vs Robinhood — which broker is better?
Sarwa or Robinhood? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Sarwa
A UAE-regulated app for US shares, robo-portfolios and money market savings, priced in percent rather than at zero.
- Stocks (per order)
- 0.25 %
- Minimum deposit
- US$500
- 5,000 order
- €12.50
Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.
Robinhood
Equity options with no per-contract fee and one of the highest-rated trading apps in our comparison — paired with a thin research offering and penalties from the SEC, FINRA and NYDFS since 2020.
- Stocks (per order)
- Free
- Minimum deposit
- None
- 5,000 order
- €0
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
The verdict in numbers
Four decision axes, each derived from the recorded data.
Overall Robinhood takes it, 3.9 against 3.4 out of 5. Robinhood is the cheaper of the two: a reference EUR 5,000 stock order costs €0.00 there against €12.50. Robinhood scores 78 against 32 out of 100 on the group index. Your account's protection depends on its legal entity. Robinhood covers more ground with 7 of 14 asset classes against 5. On platform and app Robinhood is ahead, 4.4 against 3.9 out of 5. Which one is right depends on which of these axes matters for your trading profile.
- Sarwa
- 3.4
- Robinhood
- 3.9 — Better
- Sarwa
- €12.50
- Robinhood
- €0.00 — Better
- Sarwa
- 32 of 100
- Robinhood
- 78 of 100
- Sarwa
- 5/14
- Robinhood
- 7/14 — Better
- Sarwa
- 3.9
- Robinhood
- 4.4 — Better
Compare brokers side by side
Up to four brokers at once — every row a decision point.
Data as of: 02 Nov 2026
| Criterion | Sarwa 3.4 Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest. | Robinhood 3.9 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. |
|---|---|---|
| Overall score | 3.4 | 3.9 — Better |
| Group index | 32 of 100 | 78 of 100 |
| Best for | UAE residents funding in dirhamsUS shares and a robo-portfolio in one appGulf investors wanting an optional Sharia screenerOccasional US stock orders from about USD 400 up to a few thousand | Active options tradersMobile-first investorsMargin usersCrypto and equities in one appSmall starting balances |
| Regulation | FSRA | SECFINRACFTCFCABank of Lithuania |
| Top-tier licences | 0 | 4 — Better |
| Investor protection | n/a | US$500,000 |
| Listed group | No | Yes |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | No |
| Audited financials | No | Yes |
| Disclosed regulatory actions | 5 | 4 |
| Founded | 2017 | 2013 |
| Headquarters | Abu Dhabi, AE | Menlo Park, US |
| Fees | 3.3 | 4.8 — Better |
| Safety & regulation | 3.3 | 3.6 — Better |
| Trading platform | 3.5 | 3.9 — Better |
| Product range | 2.9 | 3.4 — Better |
| Mobile app | 4.2 | 4.8 — Better |
| Research | 2.6 | 2.8 — Better |
| Customer support | 3.2 — Better | 3.0 |
| Deposit & withdrawal | 3.6 | 4.0 — Better |
| Account opening | 4.2 | 4.7 — Better |
| Education | 3.2 | 3.4 — Better |
| Reference order EUR 5,000 | €12.50 | €0.00 — Better |
| Minimum deposit | US$500 | None — Better |
| Stocks (per order) | 0.25 % | Free |
| US stocks | 0.25 % | Free |
| ETFs | 0.25 % | Free |
| Options | US$4 | Free — Better |
| Futures | Not offered | US$0.75 |
| Crypto | 1.5 % | in the spread |
| Bonds (order) | Not offered | Not offered |
| Funds (order) | Not offered | Not offered |
| EUR/USD spread | n/a | n/a |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | None | None |
| Custody fee | None | None |
| Withdrawal fee | free — Better | US$25 |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 5 | 7 — Better |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Forex | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
| Bonds | No | No |
| Funds | No | No |
| Commodities | No | Yes |
| Indices | No | Yes |
| Warrants | Yes | No |
| Spread betting | No | No |
| Social trading | No | No |
| Crypto access | Broker, real coins; coins to your own wallet: not possible according to the provider | Broker, real coins; coins to your own wallet: possible |
| Platforms | Sarwa appSarwa web platform | Robinhood MobileRobinhood WebRobinhood Legend |
| Demo account | No | No |
| Fractional shares | Yes | Yes |
| Maximum leverage | No leverage: Sarwa Trade accounts are margin accounts set to a margin of 1, so buying power equals the cash deposited and cannot be increased. | 1:2 |
| Account opening | Digital sign-up in the app or on the website with a passport (Emirates ID or GCC ID for residents), a proof of address and a live selfie; trading on Sarwa Trade unlocks after a net deposit of USD 500 | Minutes in-app; approval usually the same day |
| Account types | Sarwa TradeSarwa InvestSarwa SaveJoint account (Invest or Save)Corporate account (Invest or Save) | Robinhood brokerage accountRobinhood GoldRobinhood Retirement (Traditional / Roth IRA)Stocks and shares ISA (UK only)Joint investing account (US)Custodial account (UTMA/UGMA, US)Revocable living trust account (US) |
| Payment methods | Bank transferDebit cardApple PayGoogle Pay | Bank transferCrypto |
| Account currencies | USD | USDGBPEUR |
| Deposit time | Synced UAE bank account 5 minutes to 1 business day; bank wire 5 minutes to 2 business days; debit card, Apple Pay, Google Pay and Instant Funding instantly | Instant up to your instant-deposit limit; 3–5 business days to fully clear |
| Withdrawal time | Sarwa Trade about 1–2 business days; Sarwa Invest 4–6 business days (6–9 for the Islamic portfolios); Sarwa Save 3–5 business days (Save+) or 4 (Islamic option); USD and international transfers can take a few days longer | 1–3 business days by ACH; same day by wire |
| Free withdrawals | n/a | n/a |
| Languages | English | EnglishSpanish |
| Channels | EmailWhatsAppTicket system | Live chatEmailPhone |
| Availability | WhatsApp Monday to Friday 9:00–1:00 UAE time while the US is on standard time (November to March) and 9:00–24:00 while the US is on daylight saving time (March to November); Saturday and Sunday 9:00–18:00 UAE time | 24/7 in-app chat and callback |
Strengths and weaknesses side by side
Editorial assessment based on the recorded data.
Sarwa
A UAE-regulated app for US shares, robo-portfolios and money market savings, priced in percent rather than at zero.
Pros
- Free local AED transfers from UAE banks, with Sarwa's own published conversion rates (AED 3.6823 per USD in, AED 3.6639 per USD out as of 02.11.2026; about 0.5% apart)
- No custody, inactivity, account opening or account closing fee and no withdrawal fee to UAE banks, according to Sarwa; a withdrawal from Sarwa Trade to a Saudi bank costs USD 35
- One app for self-directed trading (Sarwa Trade), managed ETF portfolios (Sarwa Invest) and money market funds (Sarwa Save)
- US stocks and ETFs almost around the clock in four sessions from Sunday evening to Friday, plus fractional shares, IPO Access and Auto Trading
- Trade assets are held in a fully disclosed account at Alpaca Securities LLC, which Sarwa names as a SIPC member (USD 500,000 including USD 250,000 cash)
- An optional Shariah Screener with compliance reports from Musaffa, plus an Islamic portfolio line and an Islamic money market option, as Sarwa describes them
- Licensed by the FSRA in the ADGM under permission 190037 since 20 February 2020, shown on the public register
- Website in English and Arabic; WhatsApp support seven days a week, on weekends from 9:00 to 18:00 UAE time
Cons
- Four FSRA penalties since 2022: three for CRS and FATCA reporting failures (AED 36,000, AED 50,000 and AED 40,000) and USD 122,500 for offering shares in its own holding company without an approved prospectus; the DFSA fined the former Dubai company USD 191,100 over the same offer
- Percentage commission with no cap: the greater of USD 1 or 0.25% per stock or ETF order, so a USD 10,000 order costs USD 25
- Options at USD 4 per contract and crypto with a 1.5% spread on every buy and sell
- Only US-listed securities on Sarwa Trade: no bonds, futures, mutual funds or listings outside the US such as UCITS ETFs
- Not a bank, and Brokaro classes its regulator, the FSRA, as tier 2; we found no ADGM investor compensation scheme, and the SIPC cover belongs to Alpaca, not to Sarwa
- Card deposits cost 2.99% + AED 1 (UAE cards) or 3.99% + AED 1 (other cards), and Sarwa Invest charges at least USD 7 a month: in Sarwa's own example, USD 7 for a month on a USD 1,000 balance
Best for
Robinhood
Equity options with no per-contract fee and one of the highest-rated trading apps in our comparison — paired with a thin research offering and penalties from the SEC, FINRA and NYDFS since 2020.
Pros
- Equity and ETF options carry no commission and no per-contract fee — only about USD 0.04 per contract of pass-through, against USD 0.65 at Schwab and Fidelity
- USD 0 commission on US stocks and ETFs, fractional orders from USD 1, and no account minimum
- Among the lowest retail margin rates in the US market, 5.25% on balances up to USD 50,000 on a standard account as well as on Gold (rates as of 16 September 2026), with the first USD 1,000 of margin interest-free for USD 5/month Gold subscribers
- Robinhood Gold pays 3.6% APY on eligible uninvested brokerage cash with no cap and no minimum — far above Schwab's default sweep
- Retirement accounts with a 1% contribution match, rising to 3% for Gold members — no other major US broker matches IRA contributions at all
- Futures at USD 0.75 per contract per side (USD 0.50 for Gold), plus index options at USD 0.50 (USD 0.35 for Gold)
- The mobile app is the benchmark for the category, with 90+ technical indicators and genuine feature parity with the web platform
- Around 90 cryptocurrencies alongside equities in the same account, plus prediction markets — an unusually broad retail shelf for one login
Cons
- Four significant regulatory settlements since 2020 — SEC USD 65m in 2020, FINRA USD 57m in 2021, NYDFS USD 30m in 2022 and FINRA USD 26m plus USD 3.75m restitution in 2025 — covering order-flow disclosure, supervision, AML and reporting failures
- USD 100 to transfer your account out, versus USD 0 at Fidelity — a deliberate exit cost, and one of the most common complaints on public review sites
- No bonds, no mutual funds, no international exchange access and no forex; the equity universe stops at US listings and ADRs
- Research is thin: no economic calendar, no sector heat maps, no yield curve tools and limited fundamental data, with AI Digests reserved for Gold
- Support has no direct phone line for prospective clients and no branches — it runs on in-app chat and callback requests, which is a poor fit for anything urgent
- No conditional order types or backtesting on any platform
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Risk warning: investing in securities involves risk. You may lose some or all of the capital you invest.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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