10 Best
Forex Trading Platforms and Brokers in
The United Arab Emirates

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the stock
Markets

with 1:2 leverage
on the world's
leading stocks

The United Arab Emirates is a sovereign state situated in Western Asia, classified as one of the world’s most wealthy states.  As impressive as economic growth has been in the UAE, the total population has steadily increased from just around 550,000 in 1975 to close to 10 million potential Forex Traders in 2020.  The oil and gas sector plays an important role in the UAE economy, contributing to 26% of the country’s overall GDP. Tourism in turn, acts as a growth sector for the entire UAE economy, making Currency Exchange an integral part of how business is conducted, which in turn, makes Forex Trading a legalized activity.

 

Traders can make their choice of Broker from 10 of The Best Globally Regulated Forex Brokers and Trading Platforms who accept local investors.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Exness review

Exness

Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

 

Exness is authorised by several reputable regulatory bodies, including the Financial Services Authority (FSA), the Cyprus Securities and Exchange Commission (CySEC), and the particularly stringent Financial Conduct Authority (FCA).

 

In terms of its FSA regulation, the broker’s Nymstar Limited division is a Securities Dealer authorized and regulated by the Seychelles Financial Services Authority (FSA) with license number SD025.  In terms of its CySEC regulation, Exness (Cy) Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12.  And in terms of its FCA regulation, Exness (UK) Ltd is an Investment Firm, authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the Financial Services Register number 730729.

 

Under these regulatory authorities, particularly the FCA and CySEC, the broker operates legitimately in the EEA, which is well-known for its stringent regulatory safeguards, including the provision of a compensation scheme in the unlikely event of broker insolvency.   As evidenced by its broad regulatory status, Exness is an authorized broker which is able to provide its clients with a highly safe and secure trading environment.

 

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-free accounts are also available.  Exness offers over 105 different instruments to trade, including over 103 currency pairs.

 

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

Swissquote best broker

Swissquote

Swissquote Bank offers traders the ability to trade in Forex, CFDs and Options on a variety of asset classes which includes Currency pairs, FX Options, Metals, Indices, Commodities and BondsTraders can choose to trade on a variety of trading platforms including the bank’s own Advanced Trader platform and MetaTrader 4 and 5.  Swissquote Bank Ltd holds a banking licence issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.

 

Swissquote Bank offers traders four different trading accounts to choose from including Standard, Premium, Prime and Professional, as well as access to both an Islamic and free demo trading account.  Users can deposit funds via bank wire transfer or via Visa or Mastercard.  Customer support is offered in ten different languages via Live Chat, Telephone, Email and an Online Contact Form.

Saxo Bank

Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.  The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.

 

Deposits can be made via credit and debit cards, bank transfer and stock transfer.  Saxo Bank does enable its clients to identify and trade Islamic compliant stocks and ETFs on more than 25 exchanges worldwide.  Customer support is available in nearly 30 different languages via phone, email and an FAQ section.

xtb best broker

XTB

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe.  XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

 

XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

 

  • xStation 5
  • MT4

 

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

 

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Offers STP 

Mini account 

PayPal

Low min deposit 

Standard account 

Skrill

Guaranteed stop loss 

Islamic account

Payoneer

Offers Negative Balance Protection

 

Neteller

 

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

FBS

FBS

FBS is a Forex and CFD broker offering to trade on Forex, Indices, Stocks, Metals and Energies on the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms for PC, Mac, Web, Android and iOS with a maximum 1:3000 leverage.  FBS is regulated by CySEC and IFSC.

 

FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro lots in Cent accounts for more precise risk management.

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage

Spreads

Cent

$1

0.01 lot

1:1000

from 1 pip

Standard

$100

0.01 lot

1:3000

from 0.5 pips

Zero Spread

$500

0.01 lot

1:3000

0 pips + $20/lot

Micro

$5

0.01 lot

1:3000

fixed, from 3 pips

ECN

$1000

0.1 lot

1:500

from -1 pip + $6/lot

 

FBS also provides traders with swap-free accounts (also known as Islamic accounts), that do not contradict with the teachings of IslamFBS offers customer support 24 hours a day, 7 days a week via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

HotForex

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

 

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  With HotForex, there is no “Islamic Account Type” available to choose from, but traders can have an Islamic swap free condition with either Micro, Premium, Currenex, VIP or Fix account.

 

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

 

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

 

Key features include:

 

  • Supports:  MT4, MT5 for desktop, web & mobile
  • Minimum deposit:  $5
  • Leverage:  1:1000
  • Trading Instruments:  Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities,

metals

 

Customer support is available via phone and email.

easyMarkets

EasyMarkets

EasyMarkets is one of the most popular choices for Beginners and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

 

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy to use forex trading platform

 

EasyMarkets offers traders three key risk management tools which are ideal to those new to currency trading:

 

  • Deal Cancellation
  • Guaranteed Stop Loss Orders
  • Negative Balance Protection

 

Standard, Premium, VIP and SuperVIP accounts are available, their minimum opening deposits are $100, $1 000, $2 500, $50 000 respectively. Demo and Islamic accounts are also on offer.  The available trading platforms offered are MT4 and the EasyMarkets web platform.

 

Customer Support is available 24/5 via  various chat channels, email, phone and web forms.

pepperstone best broker

Pepperstone

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA)Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –

 

Boasts three top forex trading platforms:

 

  • MetaTrader 4: Most Popular for Forex Trading
  • MetaTrader 5: Most Popular CFDs Trading Platform
  • cTrader: Best Automated Trading Platform

 

All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.

 

Platform enhancements available for Pepperstone include: 

 

  • MetaTrader 4 smart trader tools
  • cTrader Automate
  • Autochartist and
  • API trading

 

A range of options for depositing funds are available, including: Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill and QIWI.

 

Pepperstone offers 24/5 multiple language support via email, phone and live chat.

 

With Islam being the largest and official state religion of the UAE an Islam Trader must choose a broker which offers users the opportunity to trade according to Sharia Law. With this being sad – Here is an overview of 7 more of The Globally Regulated Forex Brokers who offer Islamic or Swap-Free options.

FP Markets

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

 

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

 

FP Markets Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

 

Customer Service is available via email, phone and live chat.

eToro best brokers

eToro

eToro is a leading social trading platform for trading major financial markets including stocks, forex and cryptocurrencies. eToro is regulated by FCA, CySEC and ASIC.

 

eToro only offers one account type with over 1,083 different instruments to trade, including over 47 currency pairsIslamic accounts in accordance with Sharia law is also made available. The minimum deposit for said account differs by country.  eToro offers traders a proprietary trading platform which allows both individual and social trading.

 

eToro supports a wide range of languages including English, German, Spanish, French, and Italian via phone and support ticket.

HYCM

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS. HYCM Ltd is regulated under CIMA, reference number 1442313. The company’s European operations, HYCM (Europe) is regulated by the CySEC (licence number 259/14) and is authorised to operate as a Cypriot Investment Firm (CIF) to provide investment services.

 

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

a wide variety of instruments and currency pairs are available for trade:

 

  • Over 100 instruments
  • Over 40 currency pairs

 

HYCM Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Low min deposit

 

HYCM Trading Accounts on offer include Demo, Micro, Mini, Standard and Islamic and the minimum and maximum trade requirements will vary depending on the trader and the instrument.  HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

Tickmill

Tickmill

Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.

 

Three main trading accounts called the Pro Account, Classic Account and VIP Account is on offer, each which offers different minimum balances, maximum leverage, spreads and commissions respectively. Demo trading and Islamic swap-free accounts are also made available.

 

Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.

BlackBull Markets

BlackBull Markets

BlackBull Markets is a forex & CFD brokerage which is fully regulated by the New Zealand’s Financial Service Providers Register (FSPR). Trading instruments on offer include more than 20 foreign currency pairs, six major stock indices, and the popular commodities gold, silver, as well as WTI & Brent oil which can all be traded across either  the classic MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) platforms.   BlackBull Markets have created a swap free account that operates in full compliance with Sharia Law and are offered as a variant of the Standard, Prime and Institutional Accounts, with all the great features of the regular account types.

 

Customer support is available via phone or live chat, both of which are open 24 hours on all trading days.

OctaFX

OctaFX

OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account. 

 

OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

 

OctaFX Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

 

OctaFX Trading Accounts Offered:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • STP account
  • Islamic account

 

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.  Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

 

And last, but not least –

IQ Option logo

IQ Option

IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and the Seychelles, and regulated by the FCA and CySECIQ Option offers traders three trading account to choose from, Retail, Professional and Demo.  Clients who follow the Islamic faith will get a special Islamic Account which was specially designed for their needs.

 

IQ Option offers the following underlying assets for FX trading.

 

90+ Currency Pairs

Based on major and minor world currencies.

17 Crypto Pairs

Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.

5 Indices CFDs

Based on baskets of different blue-chip stocks.

3 Metal CFDs

Based on Gold, Silver and Platinum.

2 Energy CFDs

Based on Crude Oil (WTI, Brent).

1 Soft CFD

Based on Wheat.

130+ Stock CFDs

Based on shares of US, UK and EU companies.

28+ ETF CFDs

Based on exchange-traded funds containing various tradable assets.

 

IQ Option offers the following underlying assets for Binary Options trading (unfortunately, not available for EU residents).

 

30+ Currency Pairs

Based on major and minor world currencies.

2 Indices BOs

Based on DFMGI, TelAviv-25.

2 Metal BOs

Based on Gold and Silver.

20+ Stock BOs

Based on shares of US companies.

 

Payment methods accepted include all the usual options like VISA, MasterCard, Skrill and Neteller, plus a range of other online money transfer services, including AstroPay, Qiwi, and WebMoney.  IQ Option’s trading platform is web-based and supports both binary options and forex & CFD trading within the same user interface. 

 

Customer support is available 24/7 via email and local phone numbers in 13 countries.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

In Conclusion

The first and foremost characteristic of a good broker is a high level of security and regulation. After all, no true trader will simply hand over their investments to a broker who simply claims they are legit.

EXNESS is this month's #1 Broker