Best Forex Brokers in united arab emirates 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.

AvaTrade

Regulated By:ASIC, BVI, CBI, FSA(JP)

Foundation Year:2006

Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland

Min Deposit:$100

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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

Alpari

Regulated By:FSC

Foundation Year:1998

Headquarters:Mauritius

Min Deposit:N/A

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Your capital is at risk

Your capital is at risk

 

Bellow you can find a comparison table of all the best Forex brokers in UAE

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

Your capital is at risk

ASIC, BVI, CBI, FSA(JP)

$100

1:30

ActTrader, MT4, MT5, Proprietary, Zulutrade

2006

Dealing Desk, Market Maker

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

Alpari
Visit Broker>

Your capital is at risk

FSC

$null

1:1000

MT4, MT5

1998

ECN, STP

Visit Broker>

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.