The UAE trading scene is fast evolving and gaining popularity among forex traders. There are many brokers operating in the region, but only the best of the best appear in my list below.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology.
Now let’s dive into the selected brokers.
Plus500 is known for its sophisticated trading platform, diverse markets, fair pricing, and more. I went over Plus500’s 2,800+ tradable instruments and learned that the broker even provides 14 stocks of local companies based in the UAE.
Key Features:
Plus500’s proprietary WebTrader is an intuitive trading station. I gave it a spin and was impressed with its speed and fluidity. Price action was illustrated in great detail, and I found it very easy to zoom in and out. Because of its flexibility, I deem the WebTrader equally well suited to first-time traders and seasoned vets alike.
The cherry on top is the +Inshights tool, which is added to the Plus500 WebTrader. The tool screens for changes in buying and selling pressure across Plus500’s thousands of assets and tracks the changing behavior patterns of the broker’s clients.
I also learned that Plus500 works with UAE Pass, helping local traders speed up their account registration. Clients from the UAE will also benefit from Plus500’s extensive educational library with its rich and insightful resources.
When it comes to high-octane trading with high leverage, one name reigns supreme – FXTM. The financial derivatives broker delights its clients, including traders in the UAE, with a maximum retail leverage of 1:5000 on FX pairs and metals.
Key Features:
I also discovered that FXTM provides a maximum retail leverage of 1:1000 on indices and cryptocurrencies, 1:500 on energies, such as WTI, 1:200 on futures contracts, 1:25 on stocks and soft commodities, and 1:10 on ETFs.
To protect its clients against adverse market volatility, FXTM ensures negative balance protection so that your losses cannot exceed your invested capital. I also confirmed that all FXTM accounts feature a combination of 80% margin call and 50% stop-out. Additionally, high-leverage enthusiasts can get started with FXTM for as low as $50 on the Edge account.
I did my testing of FXTM on the ever-reliable MetaTrader 5 platform. High-leverage traders can make use of its stop-loss and trailing stop orders to squeeze the maximum out of every market twist and turn. Moreover, they can use the one-click trading and DoM functionalities for precise order filling.
Traders in the UAE looking for market diversity and exposure to rare and exotic instruments can find all of this and more in Capital.com. I was impressed by its deep stack of tradable instruments featuring well over 5,000 CFDs and 3,000 knock-out options. I also counted nearly 100 MENA stocks of popular UAE and Saudi companies, such as Air Arabia and Dubai Islamic Bank.
Key Features:
UAE traders with Capital.com can trade on 147 FX pairs, 97 commodities, 4,500+ stocks, 45 indices, 540+ cryptocurrencies, and 900+ ETFs. Capital.com’s offering outpaces most other brokers by a long shot, especially in FX pairs and cryptocurrencies. The package includes some pretty exotic names, such as AEDMXN, AEDPLN, and others.
I also appreciated Capital.com for striking a fine balance between high-yield/risk assets, such as stocks and cryptocurrencies, and lower-risk securities, such as ETFs.
I also learned that Capital.com offers different contract types. For instance, you can trade FX pairs in the spot market or as forward contracts, so that you can lock in positions for future delivery. Capital.com even offers weekend FX trading for the most restless traders, as well as a wide sedition of commodity and index futures contracts.
If you are a novice trader from the UAE just taking your first steps into the world of trading and looking for a reliable partner to assist you on your journey, then look no further than ATFX. The broker balanced competitive pricing with high-quality educational content.
Key Features:
ATFX takes education seriously. Its academy is brimming with numerous articles, videos, and guides. You can use them to learn the ropes of reading price action behavior, recognizing the most common patterns, understanding mass-market psychology, avoiding the most prevalent trading biases, and much more.
I appreciated the broker’s low minimum deposit requirement of only $50. It makes its universal trading account quite affordable. I also learned that the account features zero commissions and floating spreads from 1.2 pips.
Beginners with ATFX can also benefit from the broker’s high-quality market research, featuring actionable trading signals from TC. They help beginners zoom in on the latest market developments. However, the lack of UAE and other MENA stocks is ATFX’s Achilles heel.
The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
As a Senior Content Editor at FXEmpire, Ola has revised and fact-checked over 200 broker reviews and guides. Her profound understanding of financial markets has been crucial in developing the proprietary rating system.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.