Best Forex Brokers in UAE/Dubai

Best Forex Brokers in UAE/DubaiLooking 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.

Our List of the Best Forex Brokers in UAE/Dubai:

  • Best Forex Broker in the United Arab Emirates: eToro
  • Best Forex Broker in Dubai: Oanda
  • Best Forex Broker for Beginners in the UAE: eToro
  • Best Forex App for Android and iPhone in Dubai: AvaTrade
  • Highest Leverage CFD-broker in the UAE: CMC Markets

Which is the Best Forex Broker in the United Arab Emirates?

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

14 users gave the score of 4.6/5
Total score:
star-full star-full star-empty star-empty star-empty

83,244 users gave the score of 2.1/5

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro is a leading forex broker in Europe and most of the Middle East. And based on our in-depth review of the broker, as well as customer feedback from thousands, it’s clear that eToro is the best forex broker in the United ArabEmirates as well.

The broker is a multi-asset broker with an unparalleled copy trading platform, a varied selection of CFDs, and everything you need to trade forex on your mobile or computer.

The broker, however, does have a high lowest deposit limit and they do tend to keep their spreads quite high. In other words, eToro is amazing, but not necessarily the cheapest.

Which is the Best Forex Broker in Dubai?

Oanda

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.

What we like

Their unparalleled global reach

5 different platforms

What we don't like

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

Features

Fees: Commission, fees, and spread depending on the assets/securities
Demo Account: Yes
Min Deposit: 0
Assets: Thousands
Licenses: (CFTC), (FCA) & (IIROC)

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

3 users gave the score of 3.7/5
star-full star-full star-half star-empty star-empty

16,266 users gave the score of 2.58/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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 Best Forex Broker for Beginners in the United Arab Emirates?

eToro

No online broker does copy trading like eToro.

You can choose to trade on your own or copy other traders, and the social trading network is the perfect place to share experiences and learn new skills from other traders from all over the world.

What we like

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

What we don't like

Commission of CFD stocks.

High minimum deposit

Copy trading for convenience.

Fantastic app that runs smoothly on Android and iOS.

Commission of CFD stocks.

High minimum deposit

Features

Fees: 0% commission on stocks, although not on stock CFDs.
Demo Account: Yes
Min Deposit: £200
Assets: Hundreds of stocks.
Deposit Options: Credit/Debit Cards, Skrill, Neteller, PayPal, Wire, Rapid Transfer
License: FCA, CySEC, ASIC

Ratings:
star-full star-full star-full star-full star-full

Rating by our editorial team

14 users gave the score of 4.6/5
Total score:
star-full star-full star-empty star-empty star-empty

83,244 users gave the score of 2.1/5

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

In our honest opinion, eToro is the best forex broker for beginners in the United Arab Emirates, as well as the rest of the world. This is thanks to the innovative eToro copy trading platform that allows less experienced traders to track and copy more successful traders.

When used right, the eToro platform provides many shortcuts to succeeding as a forex trader in the UAE.

eToro is also one of the most well-established online brokers in the game, with several million active customers from the Middle East, all the way to the United States.

Which is the Best Forex App for Android and iPhone in Dubai?

AvaTrade

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.

What we like

Easily integrated trading robots

Commission-free trading

What we don't like

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

Features

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

Ratings:
star-full star-full star-full star-full star-half

Rating by our editorial team

4 users gave the score of 4.8/5
Total score:
star-full star-full star-full star-empty star-empty

8,392 users gave the score of 3.23/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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 platform in the world.

Which is the Highest Leverage CFD-broker in the United Arab Emirates?

CMC Markets

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.

What we like

Huge selection of assets

Well-established broker

Top-notch trading platform

What we don't like

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

Features

Fees: 0 commission on FX and CFDs
Demo Account: Yes
Min Deposit: Zero
Assets: 10,000+
License: CySEC, FCA, ASIC

Ratings:
star-full star-full star-full star-full star-empty

Rating by our editorial team

5 users gave the score of 4.6/5
Total score:
star-full star-full star-full star-empty star-empty

3,283 users gave the score of 2.88/5

Between 73-89% of retail investor accounts lose money when trading CFDs.

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.

forex brokers in UAE

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?


The highest legal leverage in the UAE is 1:500 and several brokers offer this to traders in the region.

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?


Yes, however, IQ Option is currently unregulated and so we do not recommend them to traders in Dubai and the UAE.

Note: Don’t hesitate to leave a comment below in case you have any questions regarding trading apps, safety, day trading, investments, financial systems, or anything else that might come to mind while spending time on our website. We promise to answer you as soon as possible.

Our Author:

Our editorAdam 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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