Best Forex Brokers in Dubai 2019

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Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

Fxglory

Regulated By:Not a regulated broker

Foundation Year:2011

Headquarters:Fxglory Ltd, Flat 409 Sikka Al Murar, Dubai, United Arab Emirate

Min Deposit:$1

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Your capital is at risk

Your capital is at risk

FBS

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

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Your capital is at risk

Your capital is at risk

eToro

Regulated By:ASIC, CySEC, FCA

Foundation Year:2007

Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit:$200

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76% of retail investor accounts lose money

76% of retail investor accounts lose money

Libertex

Regulated By:CySEC

Foundation Year:2014

Headquarters:Gladstonos and Karaiskaki Street, off 31, Limassol 3032, Cyprus

Min Deposit:$10

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Your capital is at risk

Your capital is at risk

 

FP Markets

Regulated By:ASIC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

Your capital is at risk

Forex Brokers in Dubai Comparison Table

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
FxGlory
Visit Broker>

Your capital is at risk

Not a regulated broker

$1

1:3000

MT4

2011

STP

Visit Broker>

Your capital is at risk

FBS
Visit Broker>

Your capital is at risk

CySEC, IFSC

$1

1:3000

MT4, MT5

2009

ECN, No dealing desk, STP

Visit Broker>

Your capital is at risk

eToro
Visit Broker>

76% of retail investor accounts lose money

ASIC, CySEC, FCA

$200

1:30

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade

2007

Market Maker, No dealing desk, STP

Visit Broker>

76% of retail investor accounts lose money

Libertex
Visit Broker>

Your capital is at risk

CySEC

$10

1:600

N/A

2014

Market Maker

Visit Broker>

Your capital is at risk

FP Markets
Visit Broker>

Your capital is at risk

ASIC

$100

1:500

MT4, MT5

2005

DMA, ECN

Visit Broker>

Your capital is at risk

How to Choose a Forex Broker (as a Dubai trader)

General Regulation & Regulation

Regulation of forex trading in Dubai is carried out by the Central Bank of UAE, and licensing of brokers is performed by the Securities and Commodities Authority (SCA). The SCA was established in 2000 and has a collaborative reporting mechanism to several international regulatory and tax organizations.

Dubai has a number of local as well as offshore forex brokerage companies offering forex to citizens and residents of Dubai. There are also offshore brokers which maintain a presence in Dubai, either by operating full-fledged regional offices or by working with partner firms based locally.

Trading Platform & Software                                                        

What kinds of trading platforms and software will you have access to as a Dubai forex trader? Dubai forex brokers provide their clients with a range of turnkey and proprietary software for trading. Apart from the MT4, other software such as the NinjaTrader and JAVA-based trading software are provided. Some of these platforms come with mobile and web-based versions as well.

Commissions & Spreads

Dubai forex brokers who function as market makers do not charge commissions on forex trades. However, Dubai forex brokers who operate the ECN model charge commissions on forex trades. Both categories of forex brokers charge commissions on CFD trading. Traders are offered at least 50 forex pairs to trade with on many of the major brokerage platforms, with minimum spread of 1.5 pips. Spreads can be as high as 100 pips on exotic pairs such as the USD/MXN or USD/ZAR.

Account Types

Some Dubai forex brokers will provide trading account stratification to accommodate different types of traders. Traders will have access to beginner-level accounts, intermediate accounts as well as VIP account types.

Customer Service

Dubai is an international hub. Therefore, in addition to the locally spoken Arabic language, Dubai forex brokers offer highly efficient and knowledgeable customer service in different international languages such as English, French, Spanish, German, Portuguese, and Mandarin.

Additional Services

The competition among Dubai forex brokers is high, and many will provide extra services to traders such as managed account services, forex VPS services, social trading services and account funding bonuses.

FAQ’s

  • Is Forex trading legal in Dubai?

Yes, forex trading is legal in Dubai.

  • Does Dubai regulate forex trading?

Dubai regulates and licenses forex brokers. The Central Bank of UAE provides regulation of the forex market, while the SCA licenses each individual forex brokerage.

  • Can Dubai forex traders trade with brokers in other EU countries?

Yes, if those brokers are MiFID compliant.

Here we have a list of the most recommended Dubai forex brokers that can provide you with reliable forex brokerage services as well as a wide range of instruments and markets to trade.

Conclusion

There are very valid options to choose from when it comes to Dubai forex brokers. You can trade with local brokers who are licensed by the SCA, or you can trade with licensed offshore brokers that offer their services to Dubai citizens and residents.