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Best Forex Brokers in UAE and Dubai in 2020?

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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

TRADING PLATFORM

BENEFITS

ASSETS

PLATFORMS

FUNDING 

ISLAMIC 

BONUS

 DEPOSIT

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

/

$10

avatradee-1

- 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

YES!

40%

$100


- CFDs

+ Mobile App
+ Web Trader

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

YES!.

/

$100

XM-logo

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

YES!

$30 - No deposit required

$5


- 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

YES!

/

/

olymp-trade-logos

Solid platform:
- Allows Hedging
- Offers MT4
- Offers social trading
Offers 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

YES!

/

$1

- 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

YES!

/

/

- 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

YES!

/

/

- 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

YES!

/

/

pepperstone-logos

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

YES!

5%

$100

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

XM-logo

1. BEST OVERALL: XM Trade

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.

plus500-logo

2. Plus 500 (Recommended for experienced traders looking for an easy-to-use platform, with great user experience)

Plus 500 is a quality CFD's provider and operates around the world via its subsidiaries: Plus500AU, AFSL #417727 issued by ASIC, Derivatives issuer licence in New Zealand for NZ clients, FSP No. 486026; Financial Services Provider # 47546 in South Africa. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).

Plus500 CY Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).

Client Money is held on trust, separated from Business Money. Should Plus500 go into liquidation client money would attract all the legal protections afforded to trust money.

iq-options

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.

etoro-logo

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. Its main operation is based around CFDs. CFDs are complex instruments that include leverage, so they come with a higher risk.  

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

Forex.com-trading-platform

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

FOREX.com is a forex and CFD 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 and CFD 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.

OandA-logo

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

OandA has won many awards this year as the best overall pick for forex and CFD’s 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.

fxcm-trading

7. FXCM (Best Technical Tools)

FXCM is a UK based forex broker which offers some CFD’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.

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: