Page Summary
This guide helps you compare and find the best forex brokers in UAE for day trading. Day trading became popular among UAE forex traders when online brokers introduced low spreads on ECN/STP accounts with $0 commission trading. However, the variety of brokers in UAE that allow day trading makes it challenging to find the ideal platform for users’ individual needs.
To help traders make the right choice, the services of available providers have been assessed considering: range of forex currency pairs, fees & spreads, automated trading options including algorithmic trading, advanced charting tools and demo account options.
This guide compares 56 providers for users to review and find the optimal forex broker for their needs. To help them make an informed decision, a list of the best forex brokers in UAE for day trading is shared below, followed by in-depth reviews and comparisons.
Best Forex Brokers in UAE for Day Trading
- IC Markets – Best Overall
- FP Markets – Lowest Fees Broker
- AVAtrade – Top Trading Platforms
- Eightcap – Ideal For Automated Trading
- Saxo Bank – Best For High Volume Traders
Top 5 Day Trading Forex Brokers in UAE Reviewed
Forex brokers with the best trading platforms for day trading are reviewed below.
IC Markets – Best Overall Forex Broker in UAE for Day Trading
Min Deposit: $200
Fees: 4.7
Assets available: 3.6
Total Fees:
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% 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.
IC Markets is an Australian forex and CFD broker founded in 2007.
Users can trade on various assets, including 61 forex pairs, 25 indices, 28 commodities, 2,100 stocks, 9 bonds, 13 cryptocurrencies, and 4 futures CFDs.
IC Markets’ trading platforms include MetaTrader 4, MetaTrader 5, cTrader, cTrader Automate, and the cTrader app for mobile devices. Users can choose between three account types: Standard, Raw Spread, and cTrader Raw Spread.
IC Market’s forex day trading features are listed below.
- Automated Forex Trading – via Expert Advisors
- Free Forex VPS – access to a Forex VPS server based on the Equinix NY4 data center in New York. It reduces latency and improves trade execution speeds.
- Advanced Trading Tools – access to an Advanced Trading Toolkit for MetaTrader featuring advanced trading tools. These include the Alarm Manager, Correlation Matrix, Session Map, and a wide range of pre-built indicators, including the Bar Changer Indicator, Candle Countdown Indicator, and Donchian Indicator.
- Real-time News and Data – All users have access to real-time news through a built-in economic calendar. Additionally, traders can use advanced forex calculators and extensive glossaries to enhance their trading experience with IC Markets.
- Risk Management Tools – including stop-losses and take-profits, negative balance protection, and advanced order types.
- 30-Day Demo Account – allows advanced traders to backtest their trading strategies or Expert Advisors.
IC Market charges low spreads starting at 0,1 pips EUR/USD plus commissions of $3 to $3,50 per lot, depending on the trading account type (Raw Trader or cTrader Raw Trader).
IC Markets users can trade with a maximum leverage of 500:1. Additionally, the broker allows micro-lot forex trading.
The minimum deposit required at IC Markets is $200. IC Market’s customer support is available via email, live chat, and phone in English, Arabic, and over ten other languages.
IC Market’s Key Features are listed below.
- Wide Range of Available Assets – access to over 3,000 financial instruments, including 61 forex pairs, stocks, futures, commodities, cryptocurrencies, indices, bonds, and CFDs.
- Automated Trading Supported – users can deploy Expert Advisors and make use of algorithmic trading and other automated trading software on its MetaTrader and cTrader trading platforms.
- Multiple Trading Platforms and Account Types – users have access to a wide range of different trading platforms and account types, including the Raw Spread, cTrader Raw Spread, and Standard trading accounts and the MetaTrader 4, 5, and cTrader trading platforms.
- Advanced Forex Trading Tools – access to over 20 advanced trading tools, including the Market Manager, Tick Chart Trader, and Correlation Trader. Additionally, users have access to pre-built indicators, such as the Gravity, Period Converter, and Keltner technical indicators.
- 30-Day Free Demo Trading Account – free 30-day demo forex trading account with a balance of $100,000.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% 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.
FP Markets – Lowest Fees Forex Broker
Min Deposit: 0
Fees: 5.0
Assets available: 3.1
Total Fees:
FP Markets is an Australian forex and CFD brokerage firm founded in 2005.
The broker provides users access to 60+ forex pairs, 650+ stocks on global exchanges, CFDs on 9 major indices, commodities, precious metals, cryptocurrencies, and ETFs.
FP Markets’ trading platforms include MetaTrader 4, MetaTrader 5, cTrader, a proprietary WebTrader, and the FP Markets mobile trading app. Users can choose between two account types: a Standard MT4 or MT5 account and a Raw Spread trading account.
FP Markets charge low spreads of 1,0 pips EUR/USD on its Standard accounts and 0,0 pips on its Raw Spread accounts. Standard account holders benefit from a 0% commission, while Raw Spread account holders are subject to a $3 commission per lot per side.
FP Markets allows users access to a free forex VPS (virtual private server) to decrease latency and increase trade execution speeds. Additionally, all users can access a free Forex demo paper trading account to test day trading strategies with virtual money.
The maximum leverage offered by FP Markets is 500:1 (on the FP Markets Pro Account) and 30:1 (on the Standard and Raw Spread accounts). Besides high maximum leverage, traders can access advanced features like the Correlation Matrix, Tick Chart, and Session Map. FP Markets also provides access to real-time forex news and data delivered via the economic calendar. Users can also access a full-fledged forex calculator to determine their potential forex trading profits and associated risks carefully.
FP Markets also offers extensive risk management tools to mitigate risk, including stop-loss, take-profit, and advanced order types. Additionally, users can apply custom and pre-built indicators and deploy Expert Advisors and other trading automation software.
The minimum deposit at FP Markets is $50. FP Markets customer service is available by email, phone, and live chat in English, Arabic, and three other languages.
FP Markets Key Features for Forex Traders:
- Broad Selection of Forex Pairs – access to over 60 forex pairs, stocks, cryptocurrencies, indices, ETFs, commodities, and precious metals.
- Multiple Trading Platforms – MetaTrader 4, MetaTrader 5, cTrader, and its own proprietary WebTrader and FP Markets Trading app.
- Tight Spreads and Commissions – FP Markets charges tight spreads, starting at 0,0 pips on EUR/USD and competitive commissions of $3 per lot per side.
- Fast and Reliable Trade Execution – Access to free forex VPS server that reduces latency
- Real Time News and Data – access to real-time forex news and data, delivered via the economic calendar
- Advanced Forex Trading Tools – forex calculator, economic calendar, and risk-free demo trading account.
- Automated Forex Trading Supported – through Expert Advisors and other forms of automated trading software.
- Low Minimum Deposit & High Maximum Leverage – FP Markets is accessible for all sorts of traders with a low minimum deposit requirement of $50. Additionally, the broker allows forex traders to place trades with up to 500:1 leverage (on the professional account).
75.31% of retail CFD accounts lose money
Avatrade – Most Available Trading Platforms
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AvaTrade is an Irish-based forex brokerage firm founded in 2006.
The broker offers access to 55 Forex pairs, 44 Forex options, and over 1,200 CFDs on stocks, commodities, cryptocurrencies, ETFs, indices, and ETFs.
Trading platforms available on Avatrade are listed below.
- WebTrader – proprietary web trading platform
- AvaTradeGO – proprietary mobile trading app available on iOS and Android.
- MetaTrader 4 – Popular forex trading platform for beginner and advanced traders that allows access to Expert Advisors and other automated trading software.
- MetaTrader 5 – Upgraded version of MetaTrader 4, offering more technical analysis tools, order types, tradable timeframes, and drawing tools and objects.
- AvaOptions – proprietary options trading platform allowing users to place call and put forex options on 44 different forex pairs. Additionally, users can maximize their returns and hedge their long positions by trading vanilla options.
- MacTrading – AvaTrade’s desktop trading platform optimized for Mac users and the Mac interface. Also usable as a WebTrader version.
- AvaSocial – AvaTrade’s social trading mobile app allows users to copy professional forex traders’ trades.
Day trading features available on Avatrades platforms are listed below.
- Dynamic charting features
- Advanced order types, including OCO orders, one-click execution, push notifications, and mobile alerts
- AvaProtect feature, which protects traders’ positions for a set time period.
- Real-time forex news and analytics, delivered by Trading Central
- Forex calculator
- Economic calendar
AvaTrade charges fixed spreads of 0,9 pips EUR/USD without additional commission. However, AvaTrade charges high non-trading fees, including $50 inactivity fee after 3 months, and a $100 administration fee after 12 months of trading inactivity.
Avatrade allows users to deploy Expert Advisors for trade automatization. They offer fast trade execution of under 40ms through the free Forex VPS (virtual private server). Users have additional access to a free demo account to test their day trading strategies with virtual money.
The minimum deposit at AvaTrade is $100. Deposit and withdrawals are available through credit/debit cards, bank wire transfers, and e-wallet services like PayPal, Neteller, and Skrill.
AvaTrade’s customer service is available via email, live chat, and by phone in English, Arabic, and over 10 other languages.
AvaTrade’s key features for forex day traders are listed below.
- Wide Range of Trading Instruments – AvaTrade users have access to over 1,300 financial instruments, including 55 forex pairs, 44 forex options, and CFDs on stocks, futures, commodities, indices, bonds, and cryptocurrencies.
- Access To Expert Advisors – AvaTrade allows the usage of Expert Advisors, trading bots, scripts, and other forms of automated trading software on its MetaTrader 4 and MetaTrader 5 trading platforms.
- Broad Selection of Trading Platforms – proprietary WebTrading platform, AvaTradeGo, MetaTrader 4, MetaTrader 5, AvaOptions, MacTrading, and AvaSocial.
- Low Trading Fees – fixed spreads of 0,9 pips EUR/USD and 0% commission
- Free VPS & Demo Account – All AvaTrade users have access to a free forex VPS (virtual private server) and $100k demo paper trading account.
- Advanced Trading Features – Including dynamic charting, advanced order types, including OCO orders, one-click execution, and AvaProtect.
71% of retail CFD accounts lose money
Eightcap – Ideal For Automated Trading
Min Deposit: $100
Fees: 4.9
Assets available: 2.8
Total Fees:
Eightcap is an ASIC-regulated forex and CFD broker, founded in 2009.
It provides access to over 40 forex pairs and 800 commodity, index, share, and crypto CFDs. The broker features a proprietary WebTrader platform and allows users to trade directly from TradingView’s charts.
Eightcap’s FlashTrader feature allows users to manage their risk automatically as it dynamically reacts to market movements. Additionally, traders can control risk through equal-weighted positions, and activate One-Click trading.
Eightcap has two trading accounts: the Standard and the Raw account. Standard account holders can trade with spreads from 1,0 pips EUR/USD and 0% commission, while Raw account holders benefit from tight spreads, starting at 0,0 pips on EUR/USD. However, Raw account holders are charged a $3,50 commission per lot per side trading fee. Eightcap charges no inactivity or other non-trading fees.
Other Eightcap day trading features are listed below.
- Low minimum deposit of $100
- Micro-lot trading availability
- 30-day demo trading account
- Advanced trading tools including AI-powered economic calendar, Capitalise.ai (code-free trade automation)
- Free forex VPS
- Access to over 100,000 community-built technical indicators and the possibility to create their own using Pine-Script language.
The minimum deposit at Eightcap is $100. Deposit and withdrawal methods include bank wire transfer, credit/debit cards, and e-wallets.
Eightcap’s customer service is available through email, live chat, and by phone.
Eightcap’s key day trading features are listed below.
- Wide Range of Tradable Assets – 40 forex pairs and over 800 CFDs on stocks, commodities, ETFs, indices, and cryptocurrencies.
- TradingView & One-Click Trading – Users can trade directly from their TradingView charts. Additionally, the broker supports one-click trading on its proprietary WebTrader and mobile trading platforms.
- Advanced Risk Management Tools – Including the FlashTrader, which dynamically adjusts stop-losses and take-profits to market movements and equal-weighted positions.
- Low Trading Fees – Eightcap offers 0% commission forex trading on its Standard account and charges a commission of $3,50 per lot per side on its Raw accounts. Spreads are competitive and start at 1,0 pips and 0,0 pips, respectively.
- AI-based Trading Features – Including an AI-based economic calendar, the Captitalise.ai trading script tool, and access to trading signal and idea provider Crypto Crusher.
- Demo account option Availability – 30-day demo trading account
- Fast and Reliable Trade Execution – Access to a Free forex VP
74-89% of retail CFD accounts lose money
Saxo Bank – Best For High Volume Traders
Min Deposit: $5000
Fees: 4.7
Assets available: 4.9
Total Fees:
69% of retail investor accounts lose money when trading CFDs with this provider.
Saxo Bank is a Danish investment brokerage, founded in 1992.
It allows users to trade on over 185 spot forex pairs, 130 forwards, and over 71,000 other financial instruments, including shares, ETFs, commodities, precious metals, and bonds.
Saxo Bank has two proprietary trading platforms: SaxoTraderGO and SaxoTraderPRO.
Both trading platforms feature advanced trading features including an Option Chain for FX options, enhanced trade tickets, fundamental and technical analysis tools, news and expert research, over 40 indicators and drawing tools. Additionally, all traders are allowed to use over 50 technical indicators and innovative risk management tools, such as advanced order types and price notifications.
Saxo Bank charges low spreads starting at 0,6 pips EUR/USD and no extra commission. The broker’s tier-1 liquidity provides quick fill rates and fast trade execution speeds of under 30 ms.
The minimum deposit at Saxo Bank is $2,000. Available funding methods include bank wire transfer, debit card deposit, and stock and portfolio transfers from other brokers.
Saxo Bank’s customer service is available through email, live chat, and by phone.
Saxo Bank’s key day trading features are listed below.
- Vast Selection of Forex Pairs – 185 spot forex pairs and 130 forwards
- Retail and Professional Accounts & Platforms – access to retail and professional accounts and platforms
- Advanced Trading Features – enhanced trade tickets, option chains, technical and fundamental analysis tools, news and expert research, pre-built indicators, and drawing tools.
- Fast and Reliable Trade Execution – Connectivity with tier-one liquidity providers allows quick fill rates and execution speeds of under 30 ms
- Low Spreads and Commissions – spreads from 0,6 pips EUR/USD and 0% commission
- Demo Paper Trading Account – 30-day free available demo account with $100k virtual money
69% of retail investor accounts lose money when trading CFDs with this provider.
How To Select The Optimal Forex Broker in UAE For Day Trading?
Criteria to consider to select the ideal forex broker in UAE for day trading are listed below.
- Low spreads and Commission (access to ECN/STP accounts)
- Fast and reliable trade execution (access to a VPS server)
- High maximum leverage
- Availability of automated trading features and algorithmic trading
- Day trading tools (advanced charting tools, real time news and data, risk management tools, demo account options)
- Wide range of forex pairs
- Responsive customer support
Top Day Trading Forex Brokers Compared
The key features of the highest rated forex brokers for day trading in UAE are compared in the table below.
| Broker | IC Markets | FP Markets | AvaTrade | Eightcap | Saxo Bank |
| Available Assets | Forex, CFDs (Indices, Commodities, Bonds, Cryptocurrencies, Futures, Stocks) | Forex, CFDs (Indices, Commodities, Metals, Bonds, Cryptocurrencies, Futures, Stocks) | Forex, CFDs, Options | Forex, CFDs, Commodities, Indices, Shares, Cryptocurrencies | Forex, CFDs, Stocks, ETFs, Bonds, Mutual Funds, Futures, Options, Derivatives |
| Margin Rates | 1:500 | 1:500 | 1:400 | 1:500 | 1:30 |
| Trade Execution | Fast and Reliable | Fast and Reliable | Fast and Reliable | Fast and Reliable | Fast and Reliable |
| Customer Service | Phone, Email, and Live Chat | Phone, Email, and Live Chat | Phone, Email, and Live Chat | Phone, Email, and Live Chat | Phone, Email, and Live Chat |
Automated Trading Features Compared
Automated trading features of the highest rated forex brokers for day trading in UAE are compared in the table below.
| Automated Trading | IC Markets | FP Markets | AvaTrade | Eightcap | Saxo Bank |
| Trading Platforms | MT4, MT5, cTrader | MT4, MT5, WebTrader, FP Markets Trading App | MT4, MT5, AvaOptions, WebTrader, AvaTradeGO, AVASocial, | TradingView, Capitalise.ai | SaxoTraderGO, SaxoTraderPRO |
| Advanced Charting | Yes | Yes | Yes | Yes | Yes |
| Algorithmic Trading | MT4, MT5, cTrader | MT4, MT5 | MT4, MT5 | TradingView | SaxoTraderGO, SaxoTraderPRO |
| Copy Trading | IC Social, ZuluTrade, Myfxbook AutoTrade, Mql5.com | No | AVASocial, ZuluTrade, DupliTrade, Mql5.com | No | SaxoTraderPRO |
| VPS | Yes | Yes | Yes | Yes | Yes |
Fees Compared
Fees of the top rated online brokers for day trading in UAE are compared in the table below.
| Fees | IC Markets | FP Markets | AvaTrade | Eightcap | Saxo Bank |
| Forex Commission | $3 | $3 | – | $3,50 | – |
| Forex Spreads (in points) | From 0 | From 0 | From 6 | From 0 | From 6 |
| Inactivity Fee | – | – | $50 after 3 mo of non use | – | – |
| Funding Fees | – | – | – | – | – |
What Is Forex Day Trading?
Forex day trading is a trading strategy where the trader opens and closes forex currency trading positions within the same trading day. The goal of forex day trading is to gain multiple smaller profits from price fluctuations between currency pairs.
Professional day traders avoid keeping their positions open overnight.
What Are The Most Common Forex Day Trading Strategies in UAE?
The most commonly used day trading strategies by UAE traders are listed below.
- Scalping – This is a forex day trading strategy where traders enter and exit many trades on the same trading day with the aim of capturing as many little price movements as possible. Typically, scalpers use a large amount of capital to profit multiple times from tiny price fluctuations.
- Pivot Points – These are commonly used technical indicators for forex trading that aim to predict the future price movements of specific forex pairs.
- News Trading – Refers to trading forex markets around economic news events and releases regularly during increased volatility. News traders try to capture the opportunities created by these events.
- Trend Trading – Refers to a day trading strategy that carefully determines and identifies a market trend (downwards or upwards) to profits from its movement.
- High-Frequency Trading (HFT) – High-Frequency trading is an automated trading strategy that uses specific algorithms to enter and exit large amounts of orders at very high speeds to profit from the slightest price fluctuations.
What Are The Best Currency Pairs For Forex Day Trading?
Forex day traders most commonly prefer major forex pairs with the highest liquidity. The best suited forex currency pairs are listed below.
- EUR/USD (Euro/US Dollar): Is the most traded forex pair in UAE and globally. Because of its high liquidity, brokers charge the lowest spreads on this pair. Additionally, most daily news (economic, business, and political) will affect this currency pair.
- USD/JPY (US Dollar/Japanese Yen): Is the second most liquid forex pair and, therefore, commonly traded by day traders. The Japanese Yen is known as a ”safe haven” currency by forex day traders during economic instability.
- GBP/USD (British Pound/US Dollar): Also called ”the Cable”, represents the current economic situation between the US and the UK, offering forex day traders many lucrative opportunities.
Conclusion
To find the ideal option, it requires time and effort to compare and review the services of different online brokers in the UAE. Users need to gather and evaluate relevant information to make the optimal choice for their needs.
This guide does the tough grind for our readers, comparing and evaluating the top choices for day traders. The results of our analysis of the best forex brokers in UAE for day trading are wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | IC Markets | 4,5/5 | Best Overall | Official website |
| #2 | FP Markets | 4,3/5 | Lowest Fees Broker | Official website |
| #3 | AVAtrade | 4,9/5 | Top Trading Platforms | Official website |
| #4 | Eightcap | 4,2/5 | Ideal For Automated Trading | Official website |
| #5 | Saxo Bank | 4,9/5 | Best For High Volume Traders | Official website |
FAQ
Is forex day trading legal in UAE?
Yes, day trading is a legal trading strategy in UAE.
Can forex day traders use multiple trading platforms at the same time?
Yes, day traders commonly use multiple trading platforms with different brokers at the same time.
Which Is The Fastest Forex Day Trading Platform?
Forex trading platforms with the fastest trade execution in UAE are IC Markets and FP Markets.
Is Day Trading Recommended For Beginners?
Forex day trading is a trading strategy that requires deep understanding of macroeconomic indicators, interpretation of market movement and usage of advanced charting tools and is therefore not recommendable for beginners.
What are the most common ways for forex day traders in UAE to manage risk?
The most common risk management tools used by forex day traders include position sizing, stop-loss orders, risk-reward ratios, writing a trading journal and diversification.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and crypto assets, 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.
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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.
Stefan Grasic is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level.