A growing number of international Forex brokers have opened subsidiaries in Dubai, the financial center of the Middle East and the fastest-growing Forex market there excepting only Saudi Arabia. We have extensively reviewed both Forex brokers with a local presence and those catering to residents of the U.A.E. to help you decide which brokers are worth considering for opening a Forex account from Dubai, or from outside Dubai where you are looking for an offshore broker in Dubai. We present our results below.
Daily market research and Autochartist access
High floating leverage + fast execution
Most extensive crypto derivatives offering. Choice of 250+ Crypto CFDs
Multiple funding and swift withdrawal options
Ultra-low spreads across all Crypto derivatives
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
Leverage up to 1:500 available
Proprietary platform offers a nice alternative to out-of-the box solutions
, ECN trading with leverage up to 1:500.
, Best all-around: high floating leverage + fast execution.
, Competitive pricing + excellent daily videos.
, Highly regulated, choice of fixed or floating spreads.
5.0/5 in this category
ECN trading with leverage up to 1:500
There are a number of top forex and CFD brokerage options available to traders in Dubai. This includes the likes of FPMarkets, one of the world’s most popular forex and CFD brokers. Based in Australia and established in 2005, FPMarkets offers the MetaTrader 4 (MT4) as well as the MetaTrader 5 (MT5) trading platforms, alongside WebTrader and IRESS platforms. Clients can enjoy trading in over 10,000 different shares and stocks, as well as over 60 forex pairs and crosses, 5 cryptocurrencies, 11 equity indices, all of the major commodities, and a number of top publicly traded shares traded on both the Sydney and the Hong Kong stock exchanges.
FPMarkets Pros & Cons
Choice of trading platforms and auxiliary trading tools
Very competitive cost structure and excellent asset selection
Low minimum deposit requirement and leverage of up to 1:500
Well-regulated and trustworthy
5.0/5 in this category
Best all-around: high floating leverage + fast execution
Dubai forex traders have a number of-top tier forex brokers available to them, allowing for plenty of scope when it comes to trading n forex, CFDs, cryptos and more. FXTM, also known simply as “Forex Time”, has been around since 2011, and offer a fairly broad product range which includes a number of popular cryptocurrencies, 62 currency pairs and crosses, 11 stock index CFDs, 172 stock CFDs, and 3 commodity CFDs. The available bundle includes gold, silver, natural gas and crude oil. In addition, FXTM allows clients to trade in stocks that are not wrapped in CFDs, allowing traders to take direct legal ownership of shares (buying them), just like you’d find with a traditional stockbroker. The FXTM brand is comprised of three main bases of operation: namely FXTM Mauritius, FXTM Cyprus, and FXTM UK.
FXTM Pros & Cons
Excellent commission-based Forex pricing environment and transparency
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders
Proprietary copy trading platform, low minimum deposit, and high leverage
5.0/5 in this category
Competitive pricing + excellent daily videos
Based in Australia, EightCap is a leading forex and CFD broker with over ten years of experience in the industry. Also sometimes referred to as 8Cap, this broker was established in 2009, and is considered reliable and trustworthy, based on several factors including regulatory licensing. EightCap is licensed through several top regulators including the much-respected Australian Securities and Investments Commission (ASIC), with additional licensing via the Vanuatu Financial Services Commission. EightCap offers one of the lowest forex fees out of all Australian forex brokers. This is especially true for clients that open a Raw account. For example, USD/EUR account fees are low with a $3.5 commission: with an average spread during peak trading hours of 0.1 pips.
EightCap Pros & Cons
Low minimum deposit and high leverage of up to 1:500
Competitive cost structure
Excellent technology infrastructure and seasoned management team
Daily research and quality educational content
4.5/5 in this category
Highly regulated, choice of fixed or floating spreads
AvaTrade is one of the largest forex brokers in the world and is an ECN/STP broker based in Dublin Ireland. Established in 2006, AvaTrade is one of the leading CFD and forex brokers in the world and currently offers over 250 instruments which includes 66 individual stocks and shares, 17 commodities, 55 forex currency pairs, 20 equity indices, 6 ETFs, 2 bonds, and 14 cryptocurrencies, making them one of the more diverse brokerage firms on the market today. Available platforms include both MT4 and MT5 trading platforms, web trading, AvaTradeGO for mobile trading, Mac trading, automated trading, AvaOptions, and AvaSocial for social trading. New traders in Dubai can take advantage of a free demo account before converting to a live (real) account.
AvaTrade Pros & Cons
High-quality educational offering via SharpTrader
Excellent choice of trading platforms catering to various trading needs
Broad asset selection and cross-asset diversification opportunities
Well-regulated and trusted broker with oversight from a central bank
4.5/5 in this category
Great deposit bonus + leverage up to 1:500
Established in 2009, Moneta Markets offers traders in Dubai over a decade’s worth of experience as an international brokerage. Moneta Markets is a subsidiary of Vantage International Group Limited (VIG) and is regulated across several key global territories including the Financial Conduct Authority (FCA), the VFSC, and the Cayman Islands Monetary Authority (CIMA). The platform is intuitive and easy to use, making it ideal for both beginner or casual traders and professional traders alike. Moneta Markets features over 70,000 active clients’ accounts across the globe and features several top platforms to choose from including MetaTrader 4 (MT4), MetaTrader 5 (MT5), WebTrader, and AppTrader for mobile. Several trading platform options are available, including WebTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and AppTrader for mobile users.
Moneta Markets Pros & Cons
Intuitive proprietary trading platform
Excellent trading tools and in-house research
Outstanding technology infrastructure
High leverage and deposit bonus
One of the first choices anyone located in Dubai must make when looking for a new broker is whether to go for one which is located and regulated in Dubai or not. Forex brokers regulated in Dubai operate under the oversight of the Dubai Financial Services Authority (DFSA). While the DFSA has a reputation as a light regulator, it ensures a highly competitive as well as relatively secure trading environment for Forex trading in Dubai. It also serves as one of the best jurisdictions for Forex brokers to use as a gateway to the MEASA region, which represents one of the fastest-growing sectors for financial services. Therefore, when you see a Forex broker setting up in Dubai, you usually see one that wants to expand, and as such may be focusing on making a very competitive offering to clients.
If you are going to choose a Forex broker physically located in Dubai, we think that an international Forex broker with a regulated subsidiary in Dubai will be likely to be the best choice. This can ensure a track record in other jurisdictions, as many local Dubai Forex brokers have not been in business for a very long time. The longer a broker has successfully conducted business, the better run it is likely to be. Longevity is a reliable heuristic here.
The best Dubai Forex brokers will also maintain deposit and withdrawal options via local payment processors or banks and Arabic language customer support.
Now you’ve got through important safety issues, you can consider what the broker has to offer. Is the cost of trading there competitive or not? Check spreads, commissions, and other incidental fees. Traders who are planning to keep trades open over the New York rollover at the end of the trading day there should also consider the overnight swaps typically offered. Unfortunately, some brokers abuse this typically “hidden” fee.
Finally, examine the “nice to have” elements, such as the range of tradable instruments, quality of customer support, and trading platforms. Going through the process in this order should ensure you end up opening an account with the best Dubai Forex broker for you.
Forex trading is completely legal in Dubai, in fact its hard to think of a place where it is more legal, as Dubai has been a low tax, offshore, trade-friendly financial center for many years. The U.A.E. does not levy income tax on individuals, so if retail traders are able to generate a profit from Forex and CFD trading, they can keep it all. What may be illegal is taking deposits from other retail traders and trading on their behalf without having an appropriate regulatory license to do so.