Looking for the best forex broker in Dubai and the United Arab Emirates? Then look no further.
In the following guide, we have listed all the best forex brokers in the UAE and Dubai, along with the reasons why they are the best.
In This Guide
Our List of the Best Forex Brokers in UAE/Dubai:
- Best Forex App for Android and iPhone in Dubai: AvaTrade
- Best Forex Broker in Dubai: Oanda
- Highest Leverage CFD-broker in the UAE: CMC Markets
Which is the Best Forex App for Android and iPhone in Dubai?
AvaTrade represents the top tier of online brokers.
With a combination of their own software and third-party platforms, you'll gain access to some of the best trading services and features.
✔ Easily integrated trading robots
✔ Commission-free trading
✔ A limited selection of assets
✔ Rather high spread on certain assets
✔ Easily integrated trading robots
✔ Commission-free trading
✗ A limited selection of assets
✗ Rather high spread on certain assets
Fees: 0% commission but spread on each trade
Demo Account: Yes
Min Deposit: £100
Deposit Options: Debit & Credit Cards, Skrill, Neteller, Webmoney
Assets: 1,000 assets
License: Central Bank of Ireland, ASIC, FSCA, FSA
AvaTrade is an online broker that, for many years, has focused a lot of resources into developing an outstanding mobile trading platform. Today, they’re proud to have an incredibly intuitive trading app.
When trading forex with AvaTrade’s app, you gain access to a wide range of trading robots and automated trading tools that allow you to be actively trading even when you’re not looking at your phone.
In addition, your AvaTrade account is also linked to MetaTrader 4 – a platform that’s widely regarded as the best forex trading platform in the world.
Which is the Best Forex Broker in Dubai?
Oanda is one of the world’s most elite online brokers based in New York and with a global reach that few brokers can compete against.
✔ Their unparalleled global reach
✔ 5 different platforms
✔ High fees and commission
✔ A limited selection of assets in some jurisdictions
✔ Their unparalleled global reach
✔ 5 different platforms
✗ High fees and commission
✗ A limited selection of assets in some jurisdictions
Fees: Commission, fees, and spread depending on the assets/securities
Demo Account: Yes
Min Deposit: 0
Assets: Thousands
Licenses: (CFTC), (FCA) & (IIROC)
Oanda is a global online forex broker with a fantastic selection of trading tools for every skill level; from the most experienced trader, to complete beginners. Even though Oanda is based in the United States, the broker has established themselves around the world. And today, we believe that this is the best forex broker in Dubai.
Unfortunately, it can be a little more expensive to use Oanda due to their higher fees. Although, for the price, you gain access to one of the most tightly regulated brokers in the world, with licenses from IIROC (Canada), CFTC (U.S), and the FCA (UK), amongst others.
Which is the Highest Leverage CFD-broker in the United Arab Emirates?
CMC Markets is a global trading service based in the UK but with customers and offices all around the globe.
A combination of great trading tools, tons of assets, and long experience in the industry make CMC Markets an excellent choice for most traders.
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✔ Complicated registration
✔ High spread on stocks
✔ Fees on many transactions
✔ Huge selection of assets
✔ Well-established broker
✔ Top-notch trading platform
✗ Complicated registration
✗ High spread on stocks
✗ Fees on many transactions
Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC
CMC Markets are known for a couple of things. Firstly, for their massive selection of available assets, including a range of forex pairs. Secondly, the broker is tightly regulated and extremely safe. Lastly, CMC Markets have good leverage limits on the UAE market.
Trading with CMC Markets is very easy and all the tools have been optimised for use on both smartphones and desktop computers.
FAQ:
Is forex trading legal in Dubai?
Yes, forex trading is legal in Dubai. In fact, all forms of regulated online trading and investments are allowed in the United Arab Emirates and Dubai.
The forex market in Dubai and the UAE is overseen by two regulatory agencies, namely the Securities and Commodities Authority (SCA) in Abu Dhabi and the Dubai Financial Services Authority (DFSA) in Dubai.
Moreover, all the brokers we recommend are regulated and licensed in multiple jurisdictions, further ensuring that they are safe and reliable to use.
Is Plus500 legal in the UAE?
No, unfortunately, Plus500 is no longer available in Dubai. This is based on regulatory reasons and the fact that Plus500 has chosen to focus on other markets.
Now, even though Plus500 is a great broker, there are several alternatives to it, which we’ve listed in this guide.
If you want to invest in stocks, we suggest picking a stockbrocker that is regulated in Europe.
But don’t fret, there are several other great stockbrokers in Europe and you can read more about them on this site.
Which forex broker has the highest leverage in the UAE?
With that being said, trading with 1:500 leverage is extremely risky and could potentially result in massive losses, especially if you don’t have protection against negative account balance. Therefore, we recommend that you trade using much lower leverage, at least while getting started.
Is Olymp Trade legal in the UAE?
Yes, however, we do not recommend Olymp Trade as we do not consider them to be one of the best forex brokers in the UAE.
But there are also a few Pan-European exchanges, such as Euronext, consisting of exchanges from Belgium, France, Ireland, the Netherlands and Portugal.
And Nasdaq Nordic comprises countries from Scandinavia, the Balkans and the Caucasus, for example, Sweden, Denmark, Finland, Iceland, Estonia, Latvia, Lithuania and Armenia.
Is IQ Option legal in the UAE?
Note: No information, nor financial advice related to online trading is offered through the comment.
Our Author:
Adam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.
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