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Trading Forex in UAE

Find a UAE-based forex broker or an international broker that accepts UAE traders in our table below. Start your forex trading journey as a UAE forex trader.

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Forex Brokers UAE

4.1
Pros
  • A Well-established name in the industry with over a decade of operation
  • Excellent trading conditions with deep liquidity to ensure fast and efficient trades
  • Open and transparent pricing structure
Cons
  • Only two main account types
  • Selection of instruments not particularly extensive
  • Spreads on crypto CFDs are not the most competitive
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • A Well-established name in the industry with over a decade of operation
  • Excellent trading conditions with deep liquidity to ensure fast and efficient trades
  • Open and transparent pricing structure
Cons
  • Only two main account types
  • Selection of instruments not particularly extensive
  • Spreads on crypto CFDs are not the most competitive
Take Me Broker Read Full Review

3.2
Pros
  • Secure broker regulation by CySEC and the IFSC
  • Low deposits for account opening
  • Comprehensive research tools and education options
Cons
  • Spreads are higher than average
  • High amount of negative reviews regarding money withdrawal
  • Lacks regulatory status in major jurisdictions
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Secure broker regulation by CySEC and the IFSC
  • Low deposits for account opening
  • Comprehensive research tools and education options
Cons
  • Spreads are higher than average
  • High amount of negative reviews regarding money withdrawal
  • Lacks regulatory status in major jurisdictions
Read Full Review

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What to look for when choosing a forex broker in UAE

When looking for regulated forex brokers in UAE, try to find one with a good reputation that offers the features that are important to you as a trader. This might include things such as offering deposit protection, low trading fees, a great trading platform, an easy sign-up process and a reasonable minimum deposit.

 

Fees and commissions

 

UAE forex brokers may take their profits exclusively from the spreads, or charge a per-trade commission. Look for a broker with a fair and transparent pricing policy that suits your trading aims and style. If you are a resident of UAE, you will naturally want to find a UAE broker that offers local-currency accounts, as well as payment methods that are easily available locally.

 

Regulation – are they safe?

 

Forex brokers in UAE are required by law to be fully regulated and are therefore generally considered safe. The Securities Commodities Authority (SCA) of UAE is the regulatory authority that oversees non-banking financial activities, including forex trading, along with the Central Bank of UAE. The SCA issues forex trading licences, so all regulated forex brokers in UAE should be registered with them. 

 

Within UAE, there are two financial free zones: Dubai International Financial Centre (DIFC) in the Emirate of Dubai, and Abu Dhabi Global Market (ADGM) in Abu Dhabi. Dubai Financial Services Authority (DFSA) in DIFC regulates forex brokers and other companies performing non-banking financial activities, if they are incorporated in DIFC.

 

Forex trading platform

 

UAE forex brokers offer a variety of trading platforms, including MT4, MT5, their own proprietary platforms and mobile apps. Choose a broker that offers the platform you prefer, and consider looking for a broker with a demo account to allow you to try out the platform.

 

Customer service

 

Make sure that the customer service of any broker you consider meets your needs. If trading from UAE, you will want to look for a broker that has a local office, preferably with a local phone support helpline. You can also avoid any language barriers by selecting a broker with a website and customer service channels that are available in your language.

 

FAQS 

 

Is forex trading legal in UAE?

 

Yes, trading forex and CFDs is legal in UAE, as long as the broker is fully regulated and has been granted a trading licence from the SCA.

 

Is forex trading halal or haram?

 

Forex trading can be either halal or haram, depending on how it is conducted. Trading with an Islamic, swap-free account that does not pay interest is halal. Trading with a regular interest-charging account is considered gambling and is haram.

 

Can you use MetaTrader in UAE?

 

Yes, many UAE forex brokers offer MT4 and MT5, including WebTrader and Mobile. Always check exactly what an individual broker offers before signing up, as not every broker in UAE offers MT4 and MT5.