Top Forex Brokers in Dubai | UAE Top Forex Brokers List

Best Forex Brokers in Dubai

In recent years, Forex trading has established a prominent position among traders and investors in Dubai, owing to its numerous appealing features. These include continuous trading opportunities, high liquidity, substantial leverage, the potential to earn profits from both rising and falling markets, low trading costs, and various trading account options.

In this article, you will discover a comprehensive list along with evaluations of the best forex brokers in Dubai, all of which are licensed and regulated by esteemed regulatory bodies worldwide. Furthermore, you will gain insights on how to select the top Forex trading brokers in the UAE that offer the best trading products tailored to your trading needs.

What is the Potential of Forex Trading in Dubai?

Dubai has become a significant center for forex trading in the Middle East and North Africa (MENA) region, providing a vibrant and profitable atmosphere for traders and investors through top Dubai-regulated Forex Brokers. Various elements play a role in Dubai’s increasing importance in the forex trading arena:

  • Location: Dubai’s advantageous position at the intersection of Asia, Europe, and Africa grants traders continuous access to global markets. This strategic location enables traders to take advantage of market fluctuations across various time zones.
  • Supportive Regulatory Framework: The Dubai Financial Services Authority (DFSA) plays an important role in regulating the forex trading industry in Dubai. The DFSA’s comprehensive regulatory framework guarantees transparency, equity, and investor protection, creating a reliable environment for forex trading operations.
  • Advanced Infrastructure and Technology: Dubai boasts a state-of-the-art telecommunications system and rapid internet connectivity, enabling smooth and effective forex trading. Traders are able to connect to global markets with minimal latency, allowing them to make timely and informed trading decisions.
  • Growing Investor Base: Dubai’s status as a prominent financial hub has drawn an increasing number of investors, encompassing individuals, institutions, and hedge funds. The influx of investors has played a significant role in the growth of the forex trading market in Dubai.
  • Positive Business Environment: The Dubai government has implemented policies and initiatives that support business growth, with the goal of attracting foreign investment and promoting economic diversification. As a result, these policies have positioned Dubai as a desirable location for forex brokers and trading companies.

Top Forex Brokers in Dubai & UAE

1. Exness

Exness

Established in 2008, Exness is a trusted global forex broker specializing in forex and CFDs, offering trading options in currencies, cryptocurrencies, stocks, indices, and commodities. As one of the top-rated forex brokers in Dubai, Exness boasts an active client base exceeding 400,000 and employs over 2,000 individuals across Asia and Europe (as stated on the broker’s website).

With 15 years of operational expertise, Exness is overseen by multiple regulatory bodies, including the esteemed CySEC and the UK FCA.

Regional Characteristics

  • Dubai entity: Exness (SC) Ltd., governed by the Seychelles FSA
  • Available leverage: Up to 1:2000
  • Islamic accounts: Yes
  • Trading platforms available in Arabic: MetaTrader 4, MetaTrader 5
  • Arabic version of the website: Yes
  • Customer support provided in Arabic: Yes
  • Base currency in UAE dirham (AED): Yes

Exness offers a user-friendly Trading Terminal platform in addition to MetaTrader 4 and MetaTrader 5. Due to its intuitive proprietary platform and comprehensive educational and research resources, Exness is one of the best forex brokers for novice traders. At the same time, the presence of substantial leverage, narrow spreads, and sophisticated tools renders it attractive to experienced traders.

Customers of Exness, regardless of their experience level, have the option to select from various account types that align with their requirements, from cent accounts to raw spreads accounts. Additionally, minimal swap fees and the availability of social trading features make it one of the best Dubai forex brokers.

Pros of Choosing Exness

  • Narrow spreads in foreign exchange pairs
  • User-friendly interface
  • 5 account types are available
  • Round-the-clock support in Arabic
  • Minimal fees

Cons of Choosing Exness

  • The spreads on CFDs related to indices can be more competitive

2. Plus500

Plus500

Plus500 was established in 2008 and has developed into one of the foremost forex and CFD brokers worldwide. Plus500 Ltd is currently an FTSE 250 entity listed on the London Stock Exchange (LSE). This Dubai regulated forex broker is regulated by several authorities around the globe, including the Dubai Financial Services Authority (DFSA).

Regional Characteristics

  • Dubai entity: Plus500AE Ltd is authorized and regulated by the DFSA
  • Available leverage: Up to 1:30
  • Islamic accounts: Yes
  • Trading platforms: WebTrader, Plus500 Mobile App
  • Platforms offered in Arabic include: WebTrader and the Plus500 Mobile App
  • Arabic version website: Yes
  • Customer support in Arabic: Yes
  • UAE Dirham (AED) as base currency: Yes

Plus500 is an excellent option for traders seeking an intuitive and dependable platform that offers a wide variety of instruments and competitive trading fees. Its premier WebTrader platform includes advanced functionalities, such as comprehensive charting tools and complex order types.

Additionally, the broker incorporates +Insights, a research tool that delivers exclusive data on trading activities, illustrating what traders at Plus500 are purchasing and selling.

Residents of Dubai have the opportunity to explore an extensive array of over 2,800 CFDs, which include forex, commodities, indices, global stocks, ETFs, and cryptocurrencies. Furthermore, Plus500 provides a wealth of educational resources, such as ebooks, webinars, and platform tutorials, aimed at assisting traders of all experience levels.

Pros of Selecting Plus500

  • Arabic localized website
  • A trading platform with extensive features
  • Chat support is available 24/7
  • Over 2,800 tradable instruments

Cons of Selecting Plus500

  • Does not provide telephone assistance

3. Moneta Markets

Moneta Markets

Moneta Markets was founded in 2019 and is based in Johannesburg, South Africa. This broker offers competitive pricing and a diverse selection of tradable instruments. Furthermore, Moneta Markets provides a substantial array of lower-risk securities, such as bonds, which facilitates the execution of long-term trading strategies.

Regional Characteristics

  • Dubai entity: Moneta Markets Ltd, regulated by the FSA Seychelles
  • Available leverage: Up to 1:1000
  • Islamic accounts: Yes
  • Trading platforms offered in Arabic: Pro Trader, MetaTrader 4, MetaTrader 5
  • Arabic version of the website: Yes
  • Platforms accessible in Arabic: Yes
  • Bonuses: 50% cashback bonus

The Prime ECN account with the broker provides raw spreads beginning at 0.1 pips and a commission of $6 for each round-trip per traded lot. Traders calculated that trading a full-sized EUR/USD position would incur a cost of $7 (0.1 pips spread x $10 pip value + $6 commission). Considering that the industry average ranges from $10 to $11, traders determined that the fees at Moneta Markets are quite low.

Traders were impressed by the functionality of Moneta Markets’ proprietary Pro Trader platform, which is enhanced by the seamless integration of TradingView. The platform accommodates over 100 analytical tools and offers significant flexibility.

Price action can be easily adjusted, providing the trader with a detailed perspective on price action behaviour. The mobile application version of the platform, AppTrader, maintains the same level of functionality.

Pros of Choosing Moneta Markets

  • Extremely low spreads and commissions
  • A broad selection of tradable instruments
  • Appropriate for both high-frequency and long-term trading
  • A versatile array of platforms

Cons of Choosing Moneta Markets

  • Delayed assistance from customer support

4. ADSS

ADSS

ADSS is a prominent entity in the online trading sector of the Middle East, founded in 2011 and headquartered in Dubai. This regulated forex broker in Dubai provides more than 1000 tradable instruments, a robust trading platform, and in-depth market research.

Regional Characteristics

  • Dubai entity: ADSS Securities LLC, which is licensed and regulated by the SCA of the UAE
  • Available leverage: Up to 1:500
  • Islamic accounts: Yes
  • Trading platforms: ADSS Web Trader, MetaTrader 4
  • Platforms available in Arabic: Yes
  • Arabic version website: Yes

Standard account offers commission-free trading and floating spreads starting from 1.4 pips. This account has a relatively low entry requirement of $100, although its spreads differ across various asset classes.

ADSS enhances its offerings with a seamless web platform that boasts a sleek, user-friendly interface and sophisticated charting features. Day traders can utilize numerous tools to analyze price movements from various perspectives and easily identify potential trading opportunities.

The platform includes over 150 analytical tools and chart configurations, and it facilitates one-click trading along with an option for setting alerts.

Another significant advantage for day traders is ADSS’s comprehensive market research. The broker supplies a news screener powered by Dow Jones, daily trading analyses, and in-depth market insights.

Pros of going with ADSS

  • Services tailored for clients in Dubai
  • Extensive range of tradable instruments
  • A robust trading platform provided by ADSS
  • Minimal deposit requirement

Cons of going with ADSS

  • Irregular distributions

5. Vantage Markets

Vantage

Established in 2009, Vantage is a distinguished multi-asset brokerage based in Sydney, Australia. As a prominent entity in the CFD brokerage sector, Vantage serves more than 50,000 active clients globally, engaging in trading across forex, commodities, indices, shares, and cryptocurrencies. The forex trading platform in Dubai, UAE, is regulated by the leading ASIC and the offshore CIMA, undergoes routine audits, and ensures that all client funds are maintained in a segregated trust account.

Regional Characteristics

  • Dubai entity: Vantage Global Limited, which is authorised and regulated by the VFSC
  • Available leverage: Up to 1:500
  • Islamic accounts: Yes
  • Trading platforms available in Arabic: MetaTrader 4, MetaTrader 5, TradingView, ProTrader
  • Arabic version of the website: Yes
  • Customer support provided in Arabic: Yes

Vantage offers above-average CFD spreads in forex, commodities, shares, and indices. For instance, traders encountered spreads of 26 pips for gold and 1 pip for the Dow 30.

The Arabic version of the website allows traders in the UAE to easily follow the site in their native language. Moreover, 24/7 customer support in Arabic is available via live chat, phone, and email.

Pros of Choosing Vantage Markets

  • Narrow spreads
  • Elevated trust rating
  • No charges for deposits or withdrawals
  • Outstanding educational resources

Cons of Choosing Vantage Markets

  • Before accessing a live support agent, one must navigate through the chatbot

6. FP Markets

FP Markets

FP Markets, established in 2005 and located in Sydney, Australia, operates under the regulation of esteemed authorities such as CySEC and ASIC. Offering more than 800 instruments that span stocks, indices, forex, commodities, and cryptocurrencies, traders have the opportunity to engage with a diverse array of markets.

Regional Characteristics

  • Dubai entity: FP Markets LLC, registered with the FSA of St. Vincent and the Grenadines
  • Available leverage: Up to 1:500
  • Islamic accounts: Yes
  • Trading platforms available in Arabic: MetaTrader 4, MetaTrader 5, cTrader
  • Customer support provided in Arabic: Yes
  • Deposits and withdrawals in AED: Yes

Clients of FP Markets can anticipate exceptionally low trading costs. There are two primary account options: the commission-free Standard Account and the commission-based Raw Account, which offers tighter spreads. The Standard Account has highly competitive spreads, with instances as low as 14 pips for spot gold (XAU/USD).

The trusted forex trading platform in UAE facilitates market access through MT4/5, WebTrader, IRESS, and its own FP Markets mobile application. The FP Markets mobile app is user-friendly, offering complete account access, standard order types, charting capabilities with technical indicators, superior liquidity, and convenient customer support access.

Deposits and withdrawals are handled swiftly, and FP Markets imposes no fees, even for bank wire transactions. Customer support is available around the clock in Arabic, and clients have the option to utilize swap-free Islamic accounts.

Pros of FP Markets

  • Exceptionally narrow spreads
  • A thoughtfully crafted mobile application
  • More than 10,000 stocks are available from international exchanges
  • Real-time webinars

Cons of FP Markets

  • No exclusive web platform

Choosing a Forex Broker in Dubai

If you are considering selecting the best Forex broker that is physically based in Dubai, we believe that opting for an international Forex broker with a regulated subsidiary in Dubai is likely to be the most advantageous decision.

This choice can provide a proven track record in other jurisdictions, given that numerous top local Dubai Forex brokers have not been operational for an extended period. The greater the duration a broker has effectively managed its business, the more efficiently it is likely to operate. Longevity serves as a dependable heuristic in this context.

The best Forex brokers in Dubai will provide deposit and withdrawal methods through local payment processors or banks, along with customer support in the Arabic language. Having addressed crucial safety concerns, you can now evaluate the offerings of the broker. Are the trading costs competitive? It is important to review spreads, commissions, and any extra fees.

Traders intending to maintain positions beyond the New York rollover at the close of the trading day should also take into account the overnight swaps that are generally provided. Regrettably, some brokers exploit this often “hidden” charge.

Lastly, assess the “nice to have” features, including the variety of tradable instruments, the caliber of customer support, and the trading platforms available. Following this sequence should guarantee that you ultimately establish an account with the top Forex broker in Dubai, UAE for your needs.

How to Start Trading Forex in Dubai?

Dubai serves as a gateway to the MENA region, with best forex trading platforms in Dubai expanding their footprint.

Education is the most crucial element of Forex trading, as it is a highly skilled profession. Even those traders who intend to replicate the strategies of others or utilize account management services must possess comprehensive education, enabling them to identify scams and fraudulent activities.

An appropriate forex trading strategy, annual objectives with achievable expectations, and a risk management profile are essential for successful trading.

While demo accounts are widely used, they can pose a risk for novices, as they cannot fully replicate the psychological aspects of Forex trading. Engaging in demo trading is akin to using a sports simulator, which will not develop you into a proficient athlete. New traders should practice in a live account with a minimal deposit and view any trading losses as an investment in their education.

By analyzing daily economic, monetary, and political events, traders can gain insights and capitalize on price movements.

It is essential to establish hard take-profit and stop loss levels for each order before entering a trade. This practice safeguards against impulsive and emotional trading decisions, facilitating a more “set and forget” trading strategy.

Conclusion

Forex traders in Dubai are known for their substantial deposits, positioning them as a key market for numerous international Forex brokers. The significant expatriate community in the UAE renders forex trading a vital aspect of daily life.

Novice traders in Dubai are advised to refrain from hastily engaging in Forex trading and instead concentrate on comprehensive education, which will establish a solid foundation for successful trading.

The top Dubai forex brokers mentioned here can provide forex traders with an innovative trading environment, competitive pricing, Islamic trading accounts if preferred, and a reliable and secure partnership.

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