Best Forex Brokers in united arab emirates 2019
AvaTrade
ASIC, BVI, FSA(JP), FSB
N/A
Your capital is at risk
FBS
CySEC, IFSC
N/A
Your capital is at risk
eToro
ASIC, CySEC, FCA
N/A
76% of retail investor accounts lose money
Libertex
CySEC
N/A
Your capital is at risk
Alpari
FSC
N/A
Your capital is at risk
ATFX
FCA
N/A
Your Capital is at Risk
Bellow you can find a comparison table of all the best Forex brokers in UAE
Broker | Rating | Regulations | Headquarters Country | Foundation Year | Min Deposit | Max Leverage | Trading Platforms | Publicly Traded | Restricted Countries | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Cryptocurrency | ETFs | Bonds | Futures | Options | Mutual funds | Deposit | Withdrawal | commission on trades | fixed spreads | OS Compatibility | Mobile trading | promotions | Visit Broker |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASIC, BVI, FSA(JP), FSB | Ireland | 2006 | $100 | 1:400 | ActTrader, MT4 | No | United States | Market Maker | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer | Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer | No | Yes | N/A | N/A | No | Open Account Your capital is at risk | ||
CySEC, IFSC | Russian Federation | 2009 | $1 | 1:3000 | MT4, MT5 | No | Russian Federation, United States | ECN, No dealing desk, STP | Yes | No | No | No | Yes | No | No | No | No | No | Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer | Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer | No | Yes | N/A | N/A | No | Open Account Your capital is at risk | ||
ASIC, CySEC, FCA | Cyprus | 2007 | $200 | 1:30 | cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, ZuluTrade | No | Canada, Indonesia, Iran, Isle of Man, Israel, Jamaica, Japan, Niger, North Korea, Sweden, Syria, Trinidad and Tobago, Turkey, United States | Market Maker, No dealing desk, STP | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer | Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer | Yes | No | N/A | N/A | No | Open Account 76% of retail investor accounts lose money | ||
CySEC | Cyprus | 2014 | $10 | 1:600 | N/A | No | Armenia, Australia, Azerbaijan, Belgium, Canada, Kosovo, Kuwait, Latvia, Lebanon, New Zealand, Paraguay, Philippines, Poland, Solomon Islands, South Africa, South Sudan, Sri Lanka, Turkmenistan, Uganda, United Kingdom, United States, Venezuela, Virgin Islands, British | Market Maker | Yes | Yes | Yes | Yes | Yes | No | No | No | No | No | Credit Card, Moneta.ru, Neteller, QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money | QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money | Yes | No | N/A | N/A | No | Open Account Your capital is at risk | ||
FSC | Mauritius | 1998 | $null | 1:1000 | MT4, MT5 | No | United States | ECN, STP | Yes | Yes | Yes | Yes | No | No | No | No | No | No | Credit Card, FasaPay, Neteller, OKPay, Skrill, Webmoney, Wire Transfer | FasaPay, Neteller, OKPay, Skrill, Webmoney, Wire Transfer | Yes | Yes | N/A | N/A | No | Open Account Your capital is at risk | ||
FCA | United Kingdom | 2014 | $100 | 1:200 | MT4 | No | Bosnia and Herzegovina, Canada, Cuba, Ethiopia, Iran, Iraq, Japan, Mexico, North Korea, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Turkey, United States, Vanuatu, Yemen | No dealing desk, STP | Yes | Yes | Yes | Yes | Yes | No | No | No | No | No | Credit Card, Neteller, Skrill, Wire Transfer | Credit Card, Neteller, Skrill, Wire Transfer | Yes | No | N/A | N/A | No | Open Account Your Capital is at Risk |
How to Choose a Forex Broker in UAE
With the forex market not having a central marketplace, it is necessary for a UAE trader to have a forex broker that serves him. When it comes to choosing the forex broker that is right for you, some of the areas you need to take into consideration are the currency pairs being offered, their overall customer service, the various accounts being offered, their regulatory compliance, and their trading platform. In this article we will look at all of these factors and suggest the brokers that stand up to our criteria.
General Regulation & UAE Regulation
The UAE is subject to a toughly regulated environment. This is comprised from two main local regions, first the Dubai International Financial Centre (DIFC) and then the rest of the UAE. The UAE has a standalone regulatory system, which accounts to both the Central Bank of Dubai, The Emirates Securities and Commodities Authority (ESCA) and the Ministry of Economy and Planning. At the same time Dubai is accountable to its own regulatory authority the DFSA.
UAE’s authority the SECA maintains oversight over the brokers in the area, so it can maintain a high level of integrity in the industry.
Trading Platform & Software
When it comes to using a trading platform and software, this is your portal to the forex market. It is important to make sure that the software and platform that you are using is easy to use and reliable.
You would hope for a layout that is visually pleasing and for a number of different fundamental analysis and technical tools that you can choose from. All of these features will help simplify the trades that you enter and exit. Some platforms will include a “panic” button that allows you to cancel every position that you currently have open. The standard for a good platform is ‘buy’ and ‘sell’ buttons that are clearly visible. If the interface is poorly designed, it could lead to order entry mistakes that will come with a heavy price tag to pay.
Commissions & Spreads
The commissions and spreads is how a broker generates their income. You have some brokers that don’t charge any commission and instead make their money on the spread (the difference between the buy and sell price), while others will charge a small percentage of the spread along with their commission. It is important to be cautious about those that charge a wider spread, because the size of the spread could greatly reduce the amount of profit that you make from your investment.
Account Types
There are a variety of different account types offered by UAE brokers. They usually start from:
- Mini account – the account for real beginners, sometimes also offered a micro account.
- Standard account – usually the most popular type of trading account.
- VIP account – for institutional or high end traders that create a large volume, often the conditions are much better with this account, such a slower spreads and free VPN to speed up the platform.
In the UAE you will always be able to access the Islamic account too, which is Shariah law compliant. Also you will often find you can start trading with a free demo account.
Customer Service
One of the great benefits about forex trading is that it is happening 24 hours a day, as such you would expect to get customer service whenever you can trade. This includes speaking with a live person and not an automated system.
Funding Your Account
Various brokers will allow you the opportunity to fund your account in a number of ways, such as PayPal, credit card, wire transfer, ACH payment, and business or personal check. Most withdrawals are made by wire transfer or check. A fee may be required for either service.
Additional Services
You can usually expect a variety of additional services. These can include free trade alerts, a trading education centre, daily market news and analysis, sometime news or strategy videos.
Conclusion
As we have gathered there are many factors to consider when choosing a good forex broker in UAE. FXEmpire is here to help save you time and work though, as we have already conducted all of this research on your behalf and come up with the very best broker in the UAE.