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Best Forex Brokers in United Arab Emirates 2020?

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While trading forex in the United Arab Emirates is highly popular across residents, forex brokers are not required to become authorised by the Securities and Commodities Authority (SCA) to get UEA customers signed up.

The Securities and Commodities Authority is the financial regulatory body in the United Arab Emirates and can be found here: https://www.sca.gov.ae. More information can be found on: Wikipedia.

If you are a United Arab Emirates citizen we recommend to follow the SCA on Twitter: https://twitter.com/sca_uae.

The global Forex (foreign exchange) market is the most actively traded and largest financial market in the world and just in the United Arab Emirates. What are the main benefits and features that both experienced forex brokers 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. Customer 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.

Best Forex Brokers United Arab Emirates

We have created a list of the best forex broker in the United Arab Emirates, based on the fact that they accept UAE residents as new customers.

We have then evaluated all of the forex brokers based on our evaluation process and ranked them by their trust score.

Here is a recap of the best forex brokers in the United Arab Emirates:

  • XM – best technical analysis and tools
  • AVAtrade – best overall offer
  • IQ Option – best for Forex and Binary Options Trading
  • eToro – best for Copy Trading
  • Forex.com – best all-round offer
  • AVAtrade – best overall platform
  • OandA – best trading info API
  • FXCM -best research tools
  • XTB – most currency pairs and analysis tools
  • Saxo Bank – best crediting offer





– Dublin based forex broker- Highly regulated and safe- Multilingual support- Lots of financial instruments- 2Million transaction/month

– Forex- Indices- Stocks- Cryptocurrencies- Commodities- ETF’s

+ Mobile App+ Web Trader+ MT4

– Credit /debit cards- Paypal- Bank transfers- Skrill


Quality platform:- Highly regulated– Beginners friendly– Arabic/english support– Low spreads from 0 pips- 57 Currency pairs- 500:1 Max leverage- 25% bonus on first deposit

– Forex- Indices, Energies- Stocks/ Live Stocks- Cryptocurrencies- Commodities- ETF’s, Bonds- Precious metals

+ Mobile App+ MetaTrader 4+ MetaTrader 5+ WebTrader

– Credit cards/debit cards- eWallets- Wire transfers


Highly sophisticated platform:– easy to use– perfect for beginners– demo account for training purposes- lots of different financial instruments– Great research tools

– Forex, Metals- Oil, Commodities- Indices, Stocks- ETF’s, Gold- Cryptocurrencies

+ Mobile App+ Web Trader

– Credit Card- Wire Transfer – Skrill, Qiwi- WebMoney – CashU


– Global forex and CFD broker

– over 84 currency pairs and 230 CFD’s

– Part of the GAIN Capital holding

– Forex

– CFD’s

+ Mobile App+ Web Trader+ MT4

 – Credit /debit cards- Bank transfers


Solid platform:- Allows Hedging- Offers MT4- Offers social tradingOffers mobile trading apps- Allows scalping- Accepts credit cards

– Forex- Indices- Stocks- Crypto- Commodities- ETF’s

+ Mobile App+ Web Trader

– Credit /debit cards- Paypal- Bank transfers


– Global forex and CFD broker

– Easy to use trading platform

– Powerful research tools

– Fast account opening

– Forex

– CFD’s

+ Mobile App+ Web Trader+ MT4

– Credit /debit cards- Paypal- Bank transfers


– UK Based forex and CFD broker

– Easy to use trading platform

– Powerful research tools

– Low trading fees

– Forex

– CFD’s

+ Mobile App+ Web Trader+ MT4

– Credit /debit cards- Paypal- Bank transfers


– Forex and CFD broker

– Easy to use trading platform

– Good research tools

– Fast account opening

– Forex

– CFD’s

+ Mobile App+ Web Trader+ MT4

– Credit /debit cards- Paypal- Bank transfers


Solid platform:- AUD 200 account minimum- from 0.0 peep fee- Highest quality for Australian traders

– Forex, Indices- Stocks/Live Stocks- Cryptocurrencies- Commodities

+ MetaTrader 4+ MetaTrader5+ Webtrader

– Credit cards/debit cards- Bank transfer


All of the best forex brokers we took into comparison are considered as safe as they are all regulated by the top tier regulators in the United Arab Emirates 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 best forex brokers in the United Arab Emirates 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 United Arab Emirates 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.

United Arab Emirates Forex Brokers In Overview

1. AVAtrade (Best Overall Offer)

AvaTrade has been founded in 2006 (originally as AvaFX) in Dublin, Ireland.

The broker offers average-to-competitive spreads and a broad variety of tradable instruments, mostly currency pairs and Contract for difference over stocks. It also allows trades with a dozen of cryptocurrencies and a handful of options.

Deposits and withdrawals are free of charge. Users can open accounts for as little as $100. There are, however, fees for inactivity and overnight financing.

A dedicated educational and research site offers a broader variety of free courses, videos and market analysis.

The broker provides a number of trading platforms, each relevant for traders with different experiences and skills.

As per our analysis, the customer support is responsive and, equally important, available through phone, email and live-chat.

AvaTrade is regulated in six jurisdictions, since 2020 also in the United Arab Emirates. It is generally regarded as a trusted broker with a long history of operation.XM-logo


XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.

With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:

Be big, Be fair, Be human.

This has translated into excellent customer service, individualized support for each client, and global financial influence.


3. IQ Option (Best Binary Options Trading Company)

With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks binary options, cryptocurrencies etc.

The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate. If you sign up you can be sure to interact with an intuitive platform that enables access to a a big amount of resources, and trading options.


4. eToro (Best Social Trading Platform)

eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.

eToro is considered to be a trustworthy platform as it is regulated by an established regulator while being a well-recognized startup as well.

eToro has been awarded as the best social trading platform – social trading means you can follow other traders and copy their investment strategies.


5. Forex.com ( Great all-around offer)

FOREX.com is a forex broker offering over 84  currency pairs and 230 CFD’s across major asset classes. The brand is part of the GAIN capital holdings which operates in multiple countries holding licenses from many different regulatory hubs including UK, US, CA, Japan and Australia.

We would recommend this platform to active and mid active traders as they will benefit from slightly lower trading fees and spreads.

In a nutshell, as a trustworthy global player, Forex.com offers plenty of trading options for Forex traders. With all of the major trading platforms, diverse trading tools and research tools FOREX.com is suitable for almost all traders at all experience levels.


6. OandA (Most user friendly trading platform + best API)

OandA has won many awards this year as the best overall pick for forex trading. It is a well trusted company regulated by the top tier regulators like FCA and ASIC.

We would recommend this platform to users who are looking for a user friendly trading platform including high end research tools.

Forex trading for new investors – what you need to know and how to choose your broker.


7. FXCM (Best Technical Tools)

FXCM is a UK based forex broker which offers some contracts for difference s as well and is regulated by some top tier regulators like FCA and ASIC.

We would recommend this platform to users looking for great technical research tools.

No minimum deposit required so feel free to give it a shot – inactivity fees charged only after a year.

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 forex brokers in the United Arab Emirates 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 Personal Best Forex 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 best forex 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 best 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.

MethodologyThe mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on theirplatforms 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.

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.

This is the list of our brokers in review: