In this guide, we go over the best forex brokers in UAE and Dubai. We have analysed and evaluated 174 forex brokers in 8 different categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education and customer support.
Forex brokers that reached the highest scoring are considered in the following list:
Best Forex Brokers United Arab Emirates
- AVAtrade – Best forex broker overall with a high trust score
- Forex.com – Best trading tools and forex trading features
- XM – Best forex broker for beginner and intermediate traders
- Saxo Bank – Best forex broker for advanced users and research
- Interactive Brokers – Best forex broker for advanced users
- Pepperstone – Best forex broker with low trading fees and customer support
Best Forex Brokers for citizens in United Arab Emirates
| BROKER | GENERAL INFO | SCORE | BEST FOR | MIN. DEPOSIT | |
| #1 | AVAtrade | Best overall offer | 4.9/5 | Low spreads | $100 |
| #2 | Forex.com | Best features | 4.9/5 | Tools and features | $100 |
| #3 | XM | Best for forex trading | 4.8/5 | Different assets | $5 |
| #4 | Saxo Bank | Best for premium traders | 4.8/5 | Forex trading | $10,000 |
| #5 | Interactive Brokers | Best Overall Broker | 4.8/5 | Overall trading experience | $0 |
| #6 | Pepperstone | Lowest trading fees | 4.7/5 | Low fees | $0 |
Find below a breakdown of the best forex brokers in UAE, beginning with the best – AVAtrade.
01. AVAtrade: Best Forex Broker Overall
AVAtrade takes the first place as the best forex broker for UAE forex traders. They have a intuitive and sophisticated trading platform and mobile trading app that supports over 50 different forex currency pairs.
Deposits and withdrawals are free of charge. The minimum deposit is $100. Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs as CFD’s with a authorised forex broker.
Key Takeaways:
- Great variety of proprietary platforms MT4,MT5 AVATradeGO, AVASocial, WebTrader
- Access to 1400+ Forex CFDs and 44 Forex options
- Advanced mobile trading features
- Great variety of social-copy trading tools
02. Forex.com: Best Forex Trading Platforms and Features
Forex.com finishes up on second place with the best forex trading platform. Their multi-asset, features-rich trading platform offers a wide range of proprietary platforms, advanced social trading features and great asset coverage. Forex.com offers trading on over 4500 different CFDs as stock, cryptos, currencies and access to 5500 tradable symbols overall.
Their overall great offer makes this forex and CFD broker a good choice for traders at all levels.
Key Takeaways:
- StoneX is publicly traded on NASDAQ: SNEX
- Access to 5500 tradable symbols and a wide range of markets
- Advanced charting and customisation tools
- Award winning mobile trading app
03. Saxo Bank: Best Selection Of Tradable Assets
Saxo Bank finishes up on third place as the forex brokers with the best asset coverage. They offer a superb trading platform offering all the industry leading trading features, tools and research materials. Their offer of over 40.000 tradable symbols and 30.000 securities makes them an industry leader in forex trading assets coverage.
If you can afford the minimum deposit of $10.000 for United Arab Emirates, this is the go to forex broker for traders and investors at all levels.
UAE based forex traders who want to trade in accordance to the Sharia Law can open up an islamic account. Saxo Bank also offers a great customer support in Arabic language via phone, email or in person in their local UAE office.
Key Takeaways:
- Licensed by 6 tier one regulators + operates 3 banks
- Access to 40.000 tradable symbols
- Great variety of proprietary platforms (SaxoTraderGo)
- Complex order types, advanced charting and full customisation
- Extensive education section
- Competitive fee structure
04. XM.com: Best UAE Forex Broker For Market Research and Education
XM finished on third place as the broker with the best selection of market research and educational materials. They are a MetaTrader-only forex broker offering auto-trading, fast order executions, multiple order types, and no hidden commissions. We recommend this brokers for beginner traders, because of their low entry level and great educational content.
This broker offers limited regulatory protection.
Key Takeaways:
- Access to 1200 CFDs and 54 forex currency pairs
- Great education section including podcasts, videos, research articles
- Extensive research section and tools including courses and webinars
- Additional add-ons including MT4, MT5 and Analyzzer
05. Interactive Brokers: Lowest Trading Fees
Interactive Brokers is a great overall pick for UAE traders. It is a high trusted company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders from UAE and Dubai.
Key Takeaways:
- Industry lowest commissions and margin rates across all assets
- Access to a 137 markets across 35 countries
- 57 different order types
- Excellent research and education section
- Advanced technical analysis and charting tools
06. Pepperstone: Best MetaTrader and cTrader Forex Broker
Pepperstone is a trusted Forex and CFD broker well know for its support of multiple copy trading platforms, great variety of tradable assets and a enormous research and education section. The combined offering of cTrader, MetaTrader and various social trading features makes this broker s great fit for copy traders and algorithmic traders.
Pepperstone is available through 24/5 phone and online chat support plus offers an extensive FAQ web section, and e-mail.
Key Takeaways:
- Great for algorithmic traders (includes cTrader and MetaTrader)
- Education and research section are above industry average
- Access to social copy trading features
- Competitive pricing for day traders and active traders
- Multiple platform feature add-ons
How To Choose a DFSA Regulated Forex Broker?
The main criteria to consider when choosing a DFSA regulated forex brokers in UAE include: trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education and customer support.
- Fees: Avoid brokerage accounts with high fees on trades, overnight fees and hidden fees.
- Trading platforms: Look for intuitive, easy to use and fast executing forex trading platforms.
- Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions.
- Deposit & Withdrawal: Choose an broker that offers your preferred deposit and withdrawal option with low fees.
- Assets: Look for the best coverage of asset classes and currency pairs. Forex broker who does not offer major currency pairs should be voided.
- Regulation: Only choose tier one, DFSA regulated forex brokers.
- Research & education: Beginner and average forex traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.
- Customer support: Beginner forex traders should look out for responsive and professional customer support available in their language.
- Islamic Accounts: All of the brokers from our list of the best forex brokers in UAE offer an islamic account option. This gives the user to trade forex in compliance to the Sharia law.
Top 6 Forex Brokers Compared Side by Side – Overall Summary
| AVATrade | Forex.com | Saxo Bank | XM | IBKR | Pepperstone | |
| Overall Score | 4.9 | 4.8 | 4.7 | 4.7 | 4.6 | 4.4 |
| Platform Score | 5.0 | 5.0 | 4.9 | 5.0 | 4.6 | 5.0 |
| Fees Score | 4.9 | 4.9 | 4.5 | 4.7 | 4.5 | 4.3 |
| Mobile App Score | 4.9 | 4.9 | 4.9 | 5.0 | 4.4 | 4.7 |
| Deposit & With. Score | 4.9 | 4.7 | 4.6 | 5.0 | 4.4 | 4.8 |
| Assets Score | 4.9 | 4.9 | 4.6 | 5.0 | 4.6 | 4.6 |
| Regulation Score | 4.9 | 5.0 | 4.4 | 4.7 | 4.5 | 5.0 |
| Research & Edu Score | 5.0 | 4.7 | 5.0 | 4.8 | 4.7 | 5.0 |
| Support Score | 4.8 | 4.5 | 5.0 | 4.3 | 4.4 | 4.4 |
Forex Trading Regulation in UAE
Regulation is split up into two local regions: Dubai International Financial Centre (DIFC) and the rest of the UAE. The main regulation authority in UAE is the Central Bank of United Arab Emirates (CBUAE). Dubai is additionally accountable to its own regulatory body called Dubai Financial Services Authority (DFSA). Forex brokers who offer their services in United Arab Emirate are not required to be authorised by the Securities and Commodities Authority (SCA) to get UAE customers signed up.
How to Check SCA Authorisation
UAE forex traders and investors need to contact the SCA directly in order to verify authorisation for forex brokers in UAE
Summary
We have compared 174 forex brokers in 8 major categories including: trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education customer support and sharia law compliance.
According to our research, AVAtrade is the best forex broker for UAE and Dubai residents. Beside its great overall offer, it has a competitive fee structure , advanced trading tools, copy trading features and a responsive customer support in Arabic language.
Forex.com is the best UAE forex broker for high volume traders based on their reliable trade execution, overall low fees and big variety of tradable assets.
FAQ
Who Owns Forex?
No one. A person or entity doesn’t own forex. It is an addition to the traditional banking system. Transactions happen between two parts in a specific atmosphere. Read our in-depth reviews to discover the best forex brokers in the UAE.
How Do You Trade Forex?
Traders access forex pairs in three main markets. Spot markets, forwards markets, and futures markets are places where forex is tradable. The spot market is the biggest, as it is the underlying market for the other two.
Why Should You Consider Trading Forex?
Speculation and hedging are the main reasons people trade forex. It is a great approach to make money from the sale. The difference between selling and buying currencies is called the spread. Check our in-depth reviews to learn more about forex trading and fees.
Is Forex Volatile?
Online trading is risky, and you should learn more about the best strategies. Forex isn’t as volatile as real estate or digital coins. But it remains unpredictable and unstable. It might experience a downfall unexpectedly. Read our in-depth reviews to learn more about online trading and risks.
What Is A Pip?
A pip is a percentage in point. It is the smallest gain of trade in FX. Prices have a quote set to the fourth decimal point. The only exception to this rule is the Japanese yen.
What Is A Bid?
The bid represents the price you are willing to sell a currency. It is a lower price than in the case of ask prices. But when the demand is higher, bid prices might get higher than ask prices.
What Is The Ask Price?
The “ask price” refers to the lowest price you are willing to buy the currency. The ask price is greater than the bid price.
What Is The Forex Commission?
Traders use a broker to trade stocks, futures, or options. The broker acts as an agent in the transaction. It takes the order to an exchange and aims to execute it as the customer said. The broker receives a commission when the customer buys or sells the tradable instrument.
The FX market does not use commissions. It is a principals-only market. They act as dealers and make money through the bid-ask spread. Forex traders have to overcome the bid/ask spread, making scalping difficult.
How Do I Know If A Forex Broker Is Trustworthy?
We recommend you use an online broker with top-tier licenses. It will help you avoid forex scams. The brokers listed in this review have licenses from leading forex regulators. Check our in-depth reviews to read more about the best forex brokers in the UAE.
What Is The Difference Between A Dealing Desk And An Agency Broker?
A dealing desk means a forex broker he’s operating as a dealer. This broker will oversee its client trades. An agency broker is the one that routes the trade to another dealer. Keep in mind there are also hybrid desks. These operate as a dealing desk and agency. Read our in-depth reviews to learn more about forex brokers available in UAE.
How Do I Estimate Forex Trading Costs?
The all-in cost to open or close a trade is the spread, any round-turn commission, and overnight fees. If you want to keep trading costs at a minimum, you should trade major forex pairs. These offer the tightest spreads.
Which Forex Broker Has The Best Fee Structure?
Tickmill has a competitive fee structure with three account tiers. It is a top choice for VIP and active traders. The average spread data in its pro account is 0.13 for the EUR/USD spread. Our in-depth reviews offer more information on forex brokers and fees.
Which Forex Broker Has The Best Portfolio?
Saxo Bank has a versatile portfolio with 9,000+ CFDs and 170 tradeable currency pairs. The downside is that it has a high minimum deposit fee for non-UK residents.
Which Broker Has The Best Customer Support?
We review online brokers with real accounts. We reach customer support to test their services. Based on our findings, XTB has the best phone service. The average connection time is less than one minute. Read our in-depth reviews to discover which forex brokers have the best customer service.
What Currencies Trade In Forex?
Most online brokers offer access to the seven most liquid currency pairs in the world. These are:
– EUR/USD (euro/dollar)
– USD/JPY (dollar/Japanese yen)
– GBP/USD (British pound/dollar)
– USD/CHF (dollar/Swiss franc)
– AUD/USD (Australian dollar/dollar)
– USD/CAD (dollar/Canadian dollar)
– NZD/USD (New Zealand dollar/dollar)
Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. Trading platform, fees, mobile trading, payments, assets, regulation,
education and research are all part of our six-month evaluation of a broker’s account.The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were 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.
Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Contents
- 1 Best Forex Brokers United Arab Emirates
- 2 Best Forex Brokers for citizens in United Arab Emirates
- 2.1 01. AVAtrade: Best Forex Broker Overall
- 2.2 02. Forex.com: Best Forex Trading Platforms and Features
- 2.3 03. Saxo Bank: Best Selection Of Tradable Assets
- 2.4 04. XM.com: Best UAE Forex Broker For Market Research and Education
- 2.5 05. Interactive Brokers: Lowest Trading Fees
- 2.6 06. Pepperstone: Best MetaTrader and cTrader Forex Broker
- 2.7 How To Choose a DFSA Regulated Forex Broker?
- 2.8 Forex Trading Regulation in UAE
- 2.9 How to Check SCA Authorisation
- 3 Summary
- 3.1 FAQ
- 3.2 Who Owns Forex?
- 3.3 How Do You Trade Forex?
- 3.4 Why Should You Consider Trading Forex?
- 3.5 Is Forex Volatile?
- 3.6 What Is A Pip?
- 3.7 What Is A Bid?
- 3.8 What Is The Ask Price?
- 3.9 What Is The Forex Commission?
- 3.10 How Do I Know If A Forex Broker Is Trustworthy?
- 3.11 What Is The Difference Between A Dealing Desk And An Agency Broker?
- 3.12 How Do I Estimate Forex Trading Costs?
- 3.13 Which Forex Broker Has The Best Fee Structure?
- 3.14 Which Forex Broker Has The Best Portfolio?
- 3.15 Which Broker Has The Best Customer Support?
- 3.16 What Currencies Trade In Forex?
