is committed to the highest ethical standards and reviews services independently. Learn How We Make Money.

Best Forex Brokers in UAE for Beginners 2023 (UPDATED)

Page Summary

This guide helps users to find the best forex brokers in UAE for beginners. Trading with foreign currencies is a popular way among unexperienced investors to achieve financial returns. With the rising number of online brokers (local & international) offering different trading conditions, it is difficult to select the ideal option for beginners needs.

To guide new traders safely through the selection process, we have researched, compared and evaluated the different services in UAE to create a list of top choices. To satisfy the needs of beginners searching for intuitive trading tools, copy trading options and educational materials, our assessment considers range of forex trading instrumentsfeeslow deposit minimums, easy to use trading tools & platformsresearch & education materials  and responsive customer support.

This guide compares 55 providers for users to review and find the ideal forex broker for their needs. To help new traders make an informed decision, a list of the best forex brokers in UAE for beginners is shared below. 

Top 5 Forex Brokers in UAE for Beginners

  1. eToro – Best for Beginners Overall
  2. IG Trading – Best in-person Seminars
  3. XM – Top Educational Resources
  4. AVAtrade – Ideal for Forex Social Trading
  5. – Best for Mobile Trading

Best Forex Brokers in UAE for Beginners Reviewed

The 5 top forex brokers in UAE for beginners are reviewed below, considering pros, cons, key features.

1. eToro – Best Forex Broker for Beginners Overall

eToro logo

Rating: 4,9/5

Min Deposit: $100

Fees: 4.8

Assets available: 4.8

Total Fees:

Open account Read review

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro is the best forex broker in UAE for beginners because of their easy-to-use trading platform, simple buy/sell order types and extensive social copy trading features.

eToro additionally provides beginners with a broad range of educational materials that helps them enter the markets confidently including a video series called eToro Academy and a premade portfolio feature called SmartPortfolio. Besides that, beginners are allowed to start out small on eToro to limit their risk exposure. Their minimum deposit to open a trading account is only $50.

Beginners are also allowed to test their trading strategy with a free demo account and virtual money before investing their own money. In case of possible questions they have 24-7 access to a responsive customer support team in English and Arabic.

When it comes to trading, eToro offers a high ease of use level, simple buy and sell options and a copy trading feature that allows beginners to copy experienced traders.

eToro Key Features for Beginners:

  • Broad Range of Forex Pairs –  50 major, minor and exotic tradable forex pairs
  • Proprietary eToro Trading Platform – beginner-friendly trading platform available on multiple devices
  • Proprietary Copy Trading Features –  allows beginners to copy trades of professional traders
  • SmartPortfolio – allows beginners to invest in pre-made portfolios 
  • Educational Webinars – allows beginners to attend a broad range of educational webinars covering all sorts of forex trading topics
  • Market Research and in-depth Analysis – allows beginners to gain valuable insights through eToro’s news and analysis section, the eToro Academy, and eToro Plus. Additionally, users have access to Trading Central research tools.
Open account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

2. IG Trading – Best Beginner Broker for In-person Education

IG Trading logo

Rating: 4,2/5

Min Deposit: $5500

Fees: 3.7

Assets available: 4.5

Total Fees:

Open account Read review

75% of retail CFD accounts lose money

IG Trading is a great choice for forex beginners, because they offer one-on-one personal training, live educational webinars and a great set of educational tools and features.

IG allows beginners to practice forex trading and to get familiar with the trading features using the free demo account preloaded with $20,000 in virtual money.

The minimum deposit at IG is low ( $300) which allows beginners to get started small and they also provide access to micro-lot trading and high-quality trading signals.

IG Trading Key Features For Beginners:

  • Trading Signals – offer access to free real-time trading signals
  • Educational Webinars – allow users to watch pre-recorded and live trading webinars hosted by experts
  • In-person Seminars – offers in-person forex trading training for beginners
  • Market Research and In-depth Analysis – provides users with both technical and fundamental analysis reports on a daily, weekly, and monthly basis.
  • MetaTrader 4 and ProRealTime – are beginner friendly platforms offering access to over 100 indicators and a wide range of simple trading features
  • Proprietary Web and Mobile Trading Platform – offer easy simple order types, trade execution and layout for beginners
  • Broad Selection of Forex Pairs –  users have access to 90 different forex pairs, including all major and minor currency pairs.
Open account

75% of retail CFD accounts lose money

3. XM – Best Broker For Educational Resources

XM logo

Rating: 4,1/5

Min Deposit: $5

Fees: 4.1

Assets available: 2.8

Total Fees:

Open account Read review

75.59% of retail CFD accounts lose money

XM is a great forex broker for beginners looking for a broad range of educational resources including market overviews and analysis,webinars and live forex trading rooms. Users also get access to trade ideas, technical summaries, and forex calculator tools which are all supportive tools for new traders.

XM offers beginners access to cent accounts, which allow trading on positions smaller than 1 pip (micro lot) to reduce risk of loosing money. Beginners can alternatively open a free demo account and use the preloaded virtual money to test their trading strategy up front.

XM is a low-entry forex broker with a low minimum deposit requirement of just $5. Users can fund their accounts with credit/debit cards, Neteller, Skrill, UnionPay, WebMoney, and bank wire transfer.

XM Key Features For Beginners:

  • Micro Lot Account – Offers beginner forex traders a cent account with micro-lots and no minimum deposit requirement
  • Trading Rooms & Ideas – supplies forex traders with both live trading room access and trade ideas.
  • Educational Webinars – allows users to attend educational webinars for free on a weekly basis.
  • Market Research and in-depth Analysis – are updated hourly on their official website, and allow visitors access to valuable insights.
  • MetaTrader 4 and MetaTrader 5 – XM allows traders to use both MT4 and MT5
  • Broad Range of Forex Pairs – XM offers over 50 forex pair
Open account

75.59% of retail CFD accounts lose money

4. AVAtrade – Best Beginner Forex Broker for Social Trading

AVAtrade logo

Rating: 4,9/5

Min Deposit: $100

Fees: 4.9

Assets available: 4.9

Total Fees: 0.9 pip

Open account Read review

71% of retail CFD accounts lose money

AvaTrade is a great forex broker for beginners who are looking for extensive social copy trading options. AvaTrade offers a proprietary social copy trading platform and two third party interactions (ZuluTrade and DupliTrade) which allow traders to make use of the full spectrum of social trading possibilities.

Beginner traders at AvaTrade have access to 65 forex pairs and 44 forex options, which can be traded as CFDs. Traders also have the option to start with micro-lot trading or practice their trading strategy with a free demo account.

AvaTrade also offers beginners a broad range of educational tools and well-organized tutorials. AvaAcademy allows users to take courses on all things trading-related, including forex trading.

Beginner traders can start trading with AvaTrade from $100 minimum deposit.

AvaTrade Key Features

  • Broad Range of Forex Pairs – AvaTrade offers beginner traders over 50 forex pairs to trade.
  • MetaTrader Support – AvaTrade is compatible with both MetaTrader 4 and MetaTrader 5.
  • Proprietary Web Trading Platform – AvaTrade has its own beginner-friendly and easy-to-use proprietary web trading platform.
  • Islamic Account Available – Muslim traders that want to trade according to Sharia law can use Avatrade’s special Islamic swap-free account.
  • AvaTrade Academy – Beginners can learn the basics of forex trading with AvaTrade’s educational tutorials located in the AvaTrade Academy.
  • Market Research and in-depth Analysis – AvaTrade provides its users with a broad range of market research and analysis tools, such as economic calendars, technical indicators, daily blog posts, and market updates.
Open account

71% of retail CFD accounts lose money

5. – Best Beginner Broker for Mobile Trading logo

Rating: 4,8/5

Min Deposit: $20

Fees: 4.8

Assets available: 4.7

Total Fees:

Open account Read review

79.17% of retail CFD accounts lose money is a top choice for beginner traders looking to trade forex through mobile. The app allows users access to 138 forex pairs, 70 technical indicators, and features an extensive education section. The broker also charges low overnight fees and applies tight spreads.

Beginners will appreciate ‘s vast range of analysis, insights, and explainers that offer valuable forex trading insights. In addition users also have access to trading ideas, based on a patented AI bias detector. is a low-entry broker with a low minimum deposit of $20. The broker also offers a $100,000 free forex demo account for beginners to test their strategies before investing real money. Key Features for Beginners:

  • InvestMate app – the InvestMate app allows beginner forex traders to step into the markets confidently
  • Educational Webinars – access to a wide variety of educational webinars.
  • Market Research and in-depth Analysis – access to analysis, insights, explainers, and economic calendar
  • Broad Selection of Forex Pairs – access to over 130 different forex pairs.
  • MetaTrader 4 Support – access to MetaTrader 4 in conjunction with their account.
  • TradingView Integration – Both’s WebTrader and trading apps have TradingView integration, granting users access to extensive and dynamic charting features
Open account

79.17% of retail CFD accounts lose money

How to Choose the Right Forex Broker for Beginners?

Criteria that need to be considered to select the ideal forex broker in UAE for beginners are listed below.

  • Low Minimum Deposit – beginners should favourise brokers with low minimum deposit requirement which allows them to test their trading strategies and familiarize themselves with the broker’s trading platform and features.
  • Micro Lot Availability – allows beginners to trade with smaller position (micro lots) to limit their risk of loosing money on their first steps
  • Demo Account Availability – allows beginners to test their trading strategy with virutal money before investing real money.
  • Great Educational Materials – Beginners should look out for brokers that offer a broad range of educational materials in the form of tutorial videos, educational articles, and webinars.
  • Copy Trading Features – make it easy for beginners to enter the forex markets by copying trades from seasoned investors with a proven record.
  • Trading Signals and Ideas – help beginners to make the rigfht moves and to increase their overall profitability.
  • Professional Customer Support – makes it easy for beginners to get their questiones answered by experienced traders

Top Beginners Forex Brokers Compared

Key features of the highest rated forex brokers in UAE for beginners are compared in the table below.

BrokerMinimum DepositEducational MaterialsSpreads on EUR/USDCopy Trading FeaturesCustomer Support
eToro$50Yes, including video tutorials, webinars, and a blog0.9 pipCopyTrader24/5 via live chat, ticketing system
IG Trading$250Yes, including webinars, seminars, and online courses0.6 pipsNo24/7 via phone, email, live chat
XM$5Yes, including video tutorials, webinars, and educational articles0.1 pipsNo24/5 via live chat, phone, email
AvaTrade$100Yes, including video tutorials, webinars, and an educational blog0.9 pipsAvasocial, DupliTrade, ZuluTrade24/5 via phone, live chat, email$20Yes, including video tutorials, webinars, and educational articles0.6 pipsNo24/7 via live chat, email

How To Get Started as a Forex Beginner?

Forex trading beginners keep a few things in mind before choosing a forex broker to trade with. Remember that choosing the right broker with the right features and fees can make the difference between making a profit and constantly losing money.

Start With a Demo Account

We recommend beginner forex traders open a demo account with a forex broker first. Trading with a demo account allows traders to familiarize themselves with the trading platform and trading in general and to test out their trading strategies before putting their hard-earned money on the line.

Choose A Fixed Spread Instead of a Variable Spread Broker

Beginners should keep in mind that knowing how much a position cost is key to their success, and therefore, they should prefer brokers that offer fixed spreads.

Stay Away From Leverage!

It is not recommendable for beginners to trade with leverage as it significantly increases their risk of losing money. As promising as it sounds to trade with borrowed money, it’s something that we only recommend for experienced traders


With the wide range of available brokers, it is difficult to compare and evaluate their service to find the ideal option. To make an optimal choice for their needs, traders need to research essential data and compare them considering certain criteria. 

This guide does the hard work for you by comparing, reviewing and evaluating the top choices for different types of traders and trading goals. The results of our analysis of the best forex brokers in UAE for beginners are examined in the table below.

Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk.

#1eToro4,9/5Best for Beginners OverallOfficial website
#2IG Trading4,2/5Best in-person SeminarsOfficial website
#3XM4,1/5Best Educational ResourcesOfficial website
#4AVAtrade4,9/5Best for Forex Social TradingOfficial website
#5Capital.com4,8/5Best for Mobile TradingOfficial website


Is forex trading recommended for beginners?

Forex trading requires a deep understanding of global macroeconomic movements, analysis of market sentiment and quick decision making from the trader. Beginners regularly lack expertise to be profitable with forex trading and it is recommended for them to start with micro lot or cent accounts gain knowledge and confidence.

What are the most suited forex accounts for beginners?

The best suited account for beginners are trading account with low risk exposure for the trader. These include demo accounts (paper trading accounts), cent accounts and micro-lot accounts.

Which brokers in UAE have the lowest minimum deposits?

Brokers with the lowest minimum deposits for UAE clients are CMC markets ($0), XM ($5), ($20), eToro ($50) and Avatrade ($100).

What trading tools should be offered by a beginners broker?

The most important beginners trading tools that should be offered by brokers include wide range of educational materials, copy trading features, demo account, responsive customer support, low minimum deposit and easy to use interface.

Is $100 enough to start trading with forex?

$100 is a decent amount for beginners to get started with forex trading and allows them to make profit by using the right trading strategy.

Can you use the same broker after expending knowledge and trading experience?

Brokers commonly offer trading tools and conditions for beginner and advanced traders, making it possible to use the same broker after developing in knowledge.

Is it possible to trade forex without a broker?

Institutional traders and high-net worth individual are able to trade forex on the OTC markets, while retail traders can trade forex only through brokers and online brokers.


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


Please enter your comment!
Please enter your name here

This site is registered on as a development site.