Best Forex Brokers in UAE & Dubai (TOP 10 List) December 2019

Last updated: December 4th 2019

Below is a comparison table with the best forex brokers in UAE Dubai in 2019.

TOP 10 Forex Brokers in UAE


What are the best online trading platforms in UAE ?

    1. XM ⇒ low spreads, no re-quotes, nbr.1 in the World
    2. HotForex ⇒ best for ease of use
    3. eToro ⇒ best for Oil & Gold & Stocks & Crypto
    4. Pepperstone ⇒ true ECN brokerage, low spreads
    5. IQ OPTION – suitable for forex, stock trading, binary options and crypto trading

    • Perfect for both beginners and advanced traders
    • Competitive spreads starting from 0 Pips
    • 56 currency pairs available
    • 1:888 max leverage
    • Award winning Metatrader4 (MT4)
    • Very popular forex company in UAE
    • Probably the Best Islamic forex account
    • 24 Hours Monday-Friday Arabic language customer support
    • $0 Minimum deposit ($400 is recommended)
    • Regulated by London UK (FCA)
    • Safe deposits in segregated accounts + fast withdrawals
    • Solid online trading platform (no price requotes / no freezing)
    • Read our XM review here
    • Forex Trading+Real Stocks+Cryptocurrencies+Commodities+Indices+ETFs

Visit XM.COM 

Booming popularity of forex trading in United Arab Emirates is unfortunately attracting not only big and serious forex brokerages but also a lot of scammer companies which are located in offshore countries without license!

It is strongly advisable to deposit your cash only with regulated fx brokers who offer islamic forex accounts!

Our primary goal is to list fully regulated forex companies in UAE that are safe to trade with!

All forex companies listed on this website meet the following strict criteria:

  • SWAP free islamic forex accounts for UAE residents
  • generous forex bonuses for new clients
  • oversight by strict regulators (DFSA, FCA UK, Cysec etc…)
  • your deposits are safe and is kept in the best banks
  • have thousands of satisfied forex traders (not only from Dubai but worldwide)
  • high quality client support in Arabic language

forex broker in UAE


Is forex trading legal in United Arab Emirates?

Yes currency trading is perfectly 100% legal in the UAE! Actually since forex trading became completely legal in Emirates, more and more retail investors living in this country invest their money in this very lucrative and dynamic field.

FAQ – Frequently Asked Questions

  • What is the minimum capital to start with?

Many novice fx traders ask us, how much capital to start trading on Forex. In general, an absolute minimum capital $500 is more than recommended.

I will explain you why $500….

This minimum capital depends on the minimum size of the position that you want to trade (lot, mini lot or micro lot) and financial leverage that is available, so that even with such a small capital, you could risk only 1-3% of your account per trade, as many professional traders do.

However the optimum start-up capital is $10,000 and more. With $10k you can allocate 1% on a single trade which is $100 per trade, use leverage say 1:200 and open $20.000 position which is 0.2 Standard Lot.   That way 1 Pip up/down will make you $2 Profit/Loss.

Based on your financial situation you decide how much you can afford to deposit. We strongly recommend to first deposit small amount, and when you are happy with the service, then go and despoit more.

  • What is forex demo account?

Demo account is practice account, you have real prices, real charts but virtual money. You can test your strategies and play with it.

  • How can I open demo account ?

It is quite simple. Just click here and you open it within 30 seconds.

  • What is real trading account ?

Real trading account is an account where you trade with real money that you deposit.

  • How can I open real trading account ?

It is quite simple. Just click here and you open it within 30 seconds.

 


Who regulates forex brokers in the UAE and in Dubai?

The main regulatory authority with finance market oversight is Central Bank of United Arab Emirates or shortly just CBUAE.

In Dubai there is Dubai Financial Services Authority (DFSA) state regulatory body  which is responsible to regulate all forex trading companies located in Dubai.

How to find if your chosen broker is regulated by DFSA Dubai?

  1. Visit DFSA site using this link: www.dfsa.ae/register
  2. Into “Enter a keyword” field write some Dubai forex trading company name for example Henyep Capital Markets
  3. Click SEARCH
  4. You will get listed the company with their DFSA License number and all details.
  5. In case you get no results, it means either that brokerage has no DFSA license OR you searched for a wrong company name. Most companies have different company name and brand name..
  6. It is important to focus your attention on: Trading Name, Date of License, Address.

Here is the full list of DFSA regulated brokers last updated December 2019.


Overview of the UAE Financial Market

First and foremost, the country’s local currency is United Arab Emirates dirham (AED). In case you want to speculate on AED against USD, we will dissapoint you as AED has been pegged against USD since 1997 at the exchange rate of 3.6725.

With the GDP per capita reaching $40.698 (2017) according to the World Bank, UAE is indeed the main financial center in the Middle East and the whole Gulf region. Consisting of 7 Emirates, the most important hubs are without doubt the Emirates of Abu Dhabi and Dubai which  host the two most important financial securities exchanges in the country.

The leading exchanges are without doubt ADX (The Abu Dhabi’s Securities Exchange – www.adx.ae) and DFM (Dubai Financial Market www.dfm.ae).

Besides the above two, there are also seven exchanges located directly in the city of Dubai:

  • NASDAQ Dubai technology exchange – www.nasdaqdubai.com
  • The Dubai Mercantile Exchange (DME) – www.dubaimerc.com
  • The Dubai Gold & Commodities Exchange (DGCX) – www.dgcx.ae
  • The Dubai Diamond Exchange (DDE) – www.dmcc.ae
  • The Dubai Pearl Exchange (DPE) – 
  • The Dubai Multi Commodities Centre (DMCC)
  • The Dubai International Financial Centre (DIFC) – www.difc.ae

Note: *T&C’s are valid.** Bonuses are not available for traders residing in European Union.