Which Is The Best Broker For Forex Trading in Dubai?
This is our list of the 5-best DFSA licensed online forex trading platforms in Dubai. We compared trusted brokers based on: traders score, commodities you can trade, trading platforms, funding methods, minimum deposit and welcome bonus and regulation.
01. IQ Option: Best For Binary Options
IQ Option is the best online broker for options trading, known for low spreads, a sophisticated trading platform, free demo account options, and responsive customer support. It is a great platform for traders looking to invest in options on a feature-rich and easy-to-use trading platform.
The trading experience on their proprietary web, desktop, and mobile platforms is smooth. It is an easy to learn and navigate platform suitable for professional and beginning traders. Their trading platform offers a great variety of charting tools that help traders predict future market movements.
IQ Option is a trustworthy online broker subject to the highest standards of regulation and safety in the industry. It is a CySEC authorized company with a 100% clean history.
02. eToro: Best For Social Trading
eToro is a safe online broker regulated by top-tier financial regulators. It is known for its multi-asset, features-rich trading platform, and advanced social copy trading features. This lets users copy trades and portfolios from other traders. Built in a forum-like way, it allows engagement between peers through a comment section.
eToro offers a range of CFDs over stocks, currencies, crypto, indices, and commodities. Trading spreads are wide, deposits are free. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat.
03. Pepperstone: Lowest Trading Fees
Based in Melbourne, Pepperstone is a reliable Forex and CFD broker, known for its diversity of trading platforms, industry-leading pricing, fast account opening, and great support. Pepperstone users can trade many assets including forex, CFDs, cryptocurrencies, indexes, shares, and commodities. This broker is excellent for traders at all levels, from beginners to advanced.
Pepperstone offers MetaTrader and cTrader trading platforms with multiple self-developed add-ons. They do not have a proprietary mobile platform, instead use MT4 and cTrader mobile apps. It has a low minimum deposit, great customer support, and an above-average research section, and an award-winning set of educational tools.
Beginner’s Guide to Forex Trading in Dubai
This article explains UAE forex regulation, the Dubai International Finance Centre (DIFC) and Dubai Financial Services Authority’s (DFSA) regulatory role. We help investors understand security and other issues
The Importance of Regulation for Forex Trading in Dubai
Globally the forex trading industry deals with increasingly sophisticated methods of
Exential Investments Scam
A disaster that lingers in Dubai’s forex memory is the Exential Investments scam. Established in spring 2012, Exential Investments, Inc. was a money management company claiming to provide forex investment services that would double an investors’ deposits. 7,000 of th
Dubai authorities learned many lessons. The UAE put stringent regulations in place. These only cover licensed brokerages.
Dubai International Finance Centre (DIFC)
A better approach is to use
This special economic area, established in 2004, provides a location where local standards align with international counterparts. The purpose was to broaden the range of financial assets on offer and help Dubai become an investment magnet. Since its creation the DIFC became one of the world’s leading financial hubs.
To encourage the DIFC business growth and development, 3 independent bodies were created:
Figure 1: Bodies of the DIFC
Each body has a crucial part to play in the forex regulatory situation. The focus is on the Dubai Financial Services Authority (DFSA) the independent regulator of financial services conducted in or from the Dubai International Financial Centre (DIFC).
Dubai Financial Services Authority (DFSA)
The DFSA is the focus of global
Searching for the right forex broker in Dubai and the DIFC requires research and caution. It is often easy to confuse security with credibility. Regulated brokers are not immune from hacks. Despite
Essential license check
If you find a preferred broker for forex trading in Dubai, a vital step is to check its DIFC license status. The best way to do this is:
- Go to the DFSA website
- Type in the name of the broker you want to check and
- Click “search”
If your preferred broker for forex trading in Dubai does not appear, either it does not have a DFSA license or operates under a different name than its trading name. Take the necessary steps and do your research.
Forex Trading in Dubai – Conclusion
Having learned from experience and thanks to the stringent DFSA regulation, Dubai forex traders have good reason to be confident. While unregulated brokerage firms exist, there is a wealth of educational material on safer brokerages to use. Competition among regulated and licensed brokerages is increasing. This means there is less reason to increase trading risks for forex trading in Dubai.
If you have used any of the forex brokerages mentioned in this article, please let us know your experiences. We are keen to hear direct user feedback to align it with our research. We want to provide the best information possible.
If you liked reading about forex trading in Dubai than you might be interested in these:
- 1 Which Is The Best Broker For Forex Trading in Dubai?
- 2 Beginner’s Guide to Forex Trading in Dubai
- 3 The Importance of Regulation for Forex Trading in Dubai