Best Forex Brokers in UAE and Dubai in 2020?

The global Forex (foreign exchange) market is the most actively traded and largest financial market in the world. What are the main benefits and features that both experienced traders and beginners generally look for when deciding on the option for forex
trading? While there are many factors to choosing a broker, some of the most important ones are:

1. Fees
2. Trustworthiness
3. Sustomer support
4. Cross-platform trading
5. Software
6. Currency research
7. Trading education

In this article, we will cover global forex brokers allowing islamic accounts that we consider as the best forex brokers in UAE and Dubai.

10 Best Forex Brokers

Here is a recap of some of the best forex brokers in the world:

• XM is the Best broker for technical analysis and tools.
• Plus500 is the best platform for CFD trading with a long standing tradition.
• IQ Option is best for Forex and Binary Options Trading with great UE.
• eToro is the best for Copy Trading with low trading fees and mobile app.
• Forex.com has the best all-round offer
• OandA has the best trading info API.
• FXCM offers power full research tools
• XTB offers the most currency pairs and analysis tools.
• IG Trading has the best overall performance
• Pepperstone is the best Australian Forex broker

All of the best brokers we took into comparison are considered as safe as they are all regulated by the top tier regulators like the FCA and ASIC and also have a long standing trading tradition.

Considering all of the many factors, we think that the most important ones are trading fees and a user friendly platform. The trading fee’s should be reasonable and the trading platform should be easy to understand and use.

What all of the compared brokers also have in common are the free demo trading accounts. If you are just starting out with forex trading we highly recommend you to start trading with a demo account where you can’t loose any money – as you probably know, forex trading is highly risky and you can loose money in matter of seconds.

All of the best forex brokers in UAE also enable CFD trades. This are high risky and complex contracts and are not suitable for beginners traders – you can loose all of your investment in seconds.

10 Best Brokers In Overview

Best Forex Brokers in UAE

1. Plus500 – Best For Forex and CFD Trading – 4.9 Stars
2. IQ Option – Best for Binary Options Trading –  4.8 Stars
3. eToro – Best for Social, Copy Trading – 4.6 Stars
4. Forex.com – 4.5 Stars
5. OandA – Best API – 4.5 Stars
6. FXCM – Best Technical Tools – 4.5 Stars
7. XTB – Best Forex and CFD Broker – 4.8 Stars
8. IG – Best for CFDs, Most Trusted 4.5 Stars
9. Pepperstone – Best Overall 4.5 Stars
10. CMC Markets – 4.5 Stars

What are the most important criteria to look for when choosing a broker?

There are lots of criteria to look after when choosing the best forex brokers, but we can simply split them into this three categories:

• Selection of currency pairs
• high-quality tools
• moderate costs

Almost all of the best brokers in UAE listed above offer a large selection of currency pairs available to trade, almost all have pretty low account minimums and the highest legal leverage ratio of 50:1. They also provide the choice between commission accounts and spread markup accounts. Commission accounts have a fixed commission fee but will in turn offer lower bid-ask spreads.

Trading for New Investors – What You Need To Know and How to Choose Your Broker?

Foreign exchange market, usually abbreviated as Forex, is a decentralised global market for international currency trading. This market sets the exchange value of different currencies and because the trading is always done in pairs, this means the value of a specific currency is not absolute, but relative compared to another specific currency (e.g. 1 US dollar is worth X euros). It is the largest market in the world by volume and it is by no means suitable for easily intimidated traders.

Every investment carries a certain risk, but forex trading exposure is higher than most.

1. One of the reasons is the fast pace of the game, currency trades happen continually, 24 hours a day, except on weekends. When one market closes, another one opens in a different country, so prices vary constantly.
2. The other reason which is considered high risk is the fact that forex trading offers high leverage ratios, meaning that you can hold positions much higher than your initial capital. Combine the leverage with the rapid pace and you can easily see the allure of forex trading for the investors – significant profits in no time, but beware, your losses can also quickly exceed your initial investment and you might end up in the red.

When choosing your broker there are a number of things to consider like:

• platforms,
• leverage ratios
• number of currency pairs on offer
• customer service and support
• costs of doing business

These factors differentiate brokers and you should review and compare what they offer to find what best suits your needs. Brokers usually charge their costs in two different ways – either they charge a brokerage commission per trade or they pocket the difference between the bid price (the price for selling a currency) and the ask price (the price at which you buy a currency), also known as the spread. Brokers that claim no commissions are charged usually widen the spread and basically earn a commission that way. Taking these two different methods into account means that a direct costs comparison between brokers is not totally straightforward. The fact that there are numerous brokers across different countries, who may or may not be regulated, only makes the choice more complicated. To simplify the decision-making process, we have chosen to only focus on the brokers regulated by the Commodity Futures Trading Commission and the National Futures Association for the purposes of this list.

So, if you understand the risks and complexities of forex trading and are still willing to give it a go, here are our top forex brokers in UAE.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website.

Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online brokers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their
platforms are all part of our six-month evaluation of a brokers platform.

The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

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Disclaimer: By trading with securities you are taking a high degree of risk. You can loose all of your investment money. You should start trading only if you are aware of this risk. Business24-7 is not providing any investment advice, we only help you find the best broker based on your needs and preferences. Business24-7 is free for everyone, but earns commission from some of the brokers. We get commission with no additional cost for you.

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This is the list of our brokers in review:

• eToro in review
• Olymp trade in review
• Avatrade insights and full review
• Plus500 in review
• IQ Option UAE in review
• Q8 Trade review
• XM Forex review