Best Forex Brokers in United Arab Emirates 2022
No matter where you are based finding a good forex broker is hard. If you are located in the UAE you’ll need a broker that caters to you. To make your job easier we have created a list of the very best brokers that offer their services to the UAE. We base our list on research on the service, product and reliability of the companies we review.
The brokers below represent the best Forex Brokers in UAE
| Broker | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | offers promotions |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 | Visit Broker> Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law. | FCA, FINMA, CSSF | $1000 | 1:30 (FCA), 1:100 (FINMA), 1:30 (CSSF) | MT4, MT5, Advanced Trader | 1996 | Bank, Dealing Desk, Market Maker, No dealing desk | |||||||
 | Visit Broker> DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations. | ASIC, CySEC | $100 | 1:30 (ASIC), 1:30 (CySEC) | MT4, MT5, IRESS, WebTrader | 2005 | DMA, ECN, No dealing desk, STP | |||||||
 | Visit Broker> 71% of retail investor accounts lose money when trading CFDs with this provider | ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI | $100 | 1:30 (ASIC), 1:30 (CySEC), 1:500 (FSCA), 1:25 (FSA(JP)), 1:3500 (FSC), 1:1000 (BVI), 1:30 (CBI) | MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader | 2006 | Market Maker | |||||||
.png "OCTAFX") | Visit Broker> Forex margin trading involves substantial risks | SVGFSA | $50 | 1:500 (SVGFSA) | MT4, MT5 | 2011 | ECN, STP | |||||||
 | Visit Broker> Your capital is at risk | ASIC, CySEC, FSCA, FSC | $1 | 1:30 (ASIC), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSC) | MT4, MT5, Proprietary | 2009 | ECN, No dealing desk, STP | |||||||
 | Visit Broker> Your capital is at risk. | ASIC, CySEC, VFSC, SVGFSA | $50 | 1:30 (ASIC), 1:30 (CySEC), 1:500 (VFSC), 1:500 (SVGFSA) | MT4 | 2006 | ECN, STP |
Swissquote
Regulated By:FCA, FINMA, CSSF
Foundation Year:1996
Headquarters:Switzerland
Min Deposit:$1000
Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
Swissquote Bank Ltd. is an online forex, CFD and derivatives trading broker that offers what may be called a total trading package that goes beyond forex or CFDs. Swissquote Bank is part of the Swissquote Group Holdings Ltd, and represents the Swiss-based trading division of the company. Swissquote Bank operates from Gland, Switzerland and commenced operations in 1996.
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FP Markets
Regulated By:ASIC, CySEC
Foundation Year:2005
Headquarters:Australia
Min Deposit:$100
DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.
FP Markets also offers a range of education and market analysis resources through the Traders Hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.
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AvaTrade
Regulated By:ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI
Foundation Year:2006
Headquarters:Ireland
Min Deposit:$100
71% of retail investor accounts lose money when trading CFDs with this provider
AvaTrade was founded in 2006 and is authorised and regulated across all six continents it operates including by the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. It is one of the oldest online forex and CFD brokers with a well-established reputation for customer support, competitive fees and spreads – all in addition to offering a large range of financial instruments, even including ETFs and FX options for those who like to diversify across assets.
Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the AvaTrade propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, AvaTradeGo, AvaOptions and AvaSocial, all of which are discussed further down this review.
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OctaFX
.png "OCTAFX")
Regulated By:SVGFSA
Foundation Year:2011
Headquarters:Saint Vincent and the Grenadines
Min Deposit:$50
Forex margin trading involves substantial risks
OctaFX was founded in 2011 and offers Forex ECN trading, as well as CFD trading on Indices, Metals and Cryptocurrencies, across the MetaTrader and cTrader suite of trading platforms for Windows Desktop, Web (Windows and Mac) and Mobile (Android and iOS), as well as their own OctaFX Trading App.
The broker’s OctaFX.eu website is an approved domain registered with the Cyprus Securities and Exchange Commission (CySEC) under Octa Markets Cyprus Ltd. This enables users to trade with a broker under European regulatory oversight. The broker’s OctaFX.com website is registered in St. Vincent and the Grenadines and has no restrictions from European regulators, enabling users to take advantage of higher leverage and bonus promotions.
The services and features offered by OctaFX are designed for both beginner and professional traders, with access to Micro, Pro and ECN accounts, as well as the OctaFX Copy Trading programme and an impressive range of education and trading research tools including AutoChartist.
*The broker offers additional payment methods for certain GEOs.
FBS
Regulated By:ASIC, CySEC, FSCA, FSC
Foundation Year:2009
Headquarters:Belize
Min Deposit:$1
Your capital is at risk
FBS is a Forex ECN and CFD broker which was established in 2009 and is regulated by the IFSC in Belize and the CySEC in Cyprus. Since then, the brand has grown in size, capacity and technology and now supports 12 million traders from over 190 countries trading across Forex, Commodities, Metals, Cryptocurrencies and more.
FBS uses the hybrid broker model of Straight Through Processing (STP) and an Electronic Communications Network (ECN). There is no dealing desk as orders are passed directly into the systems of the liquidity providers at the actual market prices.
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Royal
Regulated By:ASIC, CySEC, VFSC, SVGFSA
Foundation Year:2006
Headquarters:Cyprus
Min Deposit:$50
Your capital is at risk.
OneRoyal was founded in 2006 and is regulated by the Australian Securities & Investments Commission (ASIC) for wholesale clients only, the Cyprus Securities & Exchange Commission (CySEC), Lebanese Capital Markets Authority (CMA) and the Vanuatu Financial Services Commission (VFSC).
The brand also operates as an International Business Company registered in St. Vincent and the Grenadines which is not unregulated. The focus of this review is on www.oneroyal.com, which is not limited to a specific entity and clients can trade with it anywhere. Thus some services and products listed may not be available in all jurisdictions.
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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.
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