Best UAE Forex brokers 2022

Best Forex Brokers in the UAE

 As it stands, the UAE is already a major center for forex trading. The country's regulations, which are overseen by the Dubai Financial Services Authority (DFSA) and Abu Dhabi Global Market (ADGM), are designed to attract foreign investment. The UAE central bank has taken steps to ensure that its currency, the dirham, is fully convertible. This makes the UAE an attractive destination for both individual and institutional investors. Considering all these factors, it is no wonder that the UAE is one of the leading centers in the world for forex trading

The best UAE forex brokers offer a variety of features and services. These can include tight spreads, regulation, low commissions, and advanced trading platforms

Best Forex Brokers in Dubai and Abu Dhabi 

When choosing a forex broker for Dubai and Abu Dhabi, it's important to consider factors such as the broker's spread (the difference between the bid and ask prices), regulation, and Islamic accounts (accounts that comply with Sharia law).

Finally, traders should make sure that the UAE forex broker offers a trading platform that's user-friendly and packed with features. 

Choosing a broker can be daunting, but by keeping these things in mind, UAE traders can narrow down their options and find the best forex broker for their needs. 

Please find below our UAE forex brokers list to help you find the right broker.

  1. FXTM - Sponsored Broker
  2. HYCM Best Forex Broker and CFD Trading 
  3. AvaTrade Best Overall Broker in UAE (Abu Dhabi regulated Broker)
  4. Oanda Best Broker for Beginners
  5. eToro Best Broker for Social Trading and Crypto Investing
  6. PuPrime  Best platform, Support and Deposit Bonus
  7. Pepperstone  Best Regulated Broker in Dubai 

#1. HYCM Best Forex Broker and CFD Trading 

HYCM

HYCM is a multi-licensed platform that has been around for decades. They were established in 1998 and their services come highly recommended because they have had one of the most rigorous regulations during this time period, which are still applicable today!
You'll find over 300 trading instruments across six asset classes including cryptocurrencies with raw spreads average at 0 .2 pips on everything you invest; not only do we offer excellent customer service but also 24/5 support whether it be in Arabic or English language too, so your needs will always get met with HYCM.

HYCM charges and spreads

EURUSDUSDJPYGoldBitcoin
0.1 + $4 per round *0.2 + $4 per round *17 + $5 per round *76.5 *
*RAW account
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Pros

  • HYCM office in Dubai
  • Low spreads
  • Provide a free demo account
  • Long history of transactions since 1998
  • licensed broker
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Cons

  • No promotions
Your capital is at risk

#2. AvaTrade Best Overall Broker in UAE (Abu Dhabi regulated Broker)

avatrade

 AvaTrade is one of the oldest and most reputable brokers in the industry, with over ten years of experience. They offer about a thousand different asset classes to choose from including forex (which has been available since 2006), bond commodities or cryptocurrencies – making it an excellent choice for traders who want complete control of their investments without being restricted to traditional markets like Bitcoin! 

AvaTrade offers the most competitive tight spreads in town, fast execution speeds, and powerful tools like Trading Central to help you trade wisely. 

They also have plenty of resources available for copy traders who want an easier life when it's time to take risks in the markets! in review AvaTrade We will consider everything that is good about this broker - from the 24/5 superb customer service as well as the office and regulations here in Abu Dhabi.

AvaTrade fees and spreads

EURUSDUSDJPYGoldBitcoin
0.6*0.6*0.23*0.20%
*Pro account
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Pros

  • Deposit Bonus up to $10,000
  • Cryptocurrency trading
  • Islamic account
  • More than 1250 financial instruments
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Cons

  • High inactivity fees
Trading CFDs and Forex Options involves risks and may result in the loss of your capital

#3. Oanda Best Broker for Beginners 

Oanda

With a low minimum deposit of $1, Oanda is the ideal place for traders looking to trade large contracts simultaneously. With its variety of platforms and services offered such as security from regulations with Metatrader 4 / MT5 on boards specially designed for beginners or experienced investors who need more options depending on how well they know the trading markets – there is no better broker for beginners than this one!

OANDA Fees and Spreads

EURUSDUSDJPYGoldBitcoin
1.6*1.8*2565.37
*average spreads last 3 months
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Pros

  • 50% Welcome Bonus! Special Offer!
  • Cryptocurrency trading
  • Spreads as low as 0.0 pips
  • Islamic account
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Cons

  • Their website is not in Arabic
Your capital is at risk

#4. eToro Best Broker for Social Trading and Crypto Investing

etoro

 eToro is a social trading platform that offers over 100 crypto assets, ETFs, and stocks to trade. The minimum deposit for the account starts from 200 USD with no commission on stock trades; However, there may be some restrictions depending on your location (some countries do not allow investing money in financial products like this). In addition, e-toro also offers a demo account so you can test different strategies before risking any real money!

eToro Fees and Spreads

EURUSDUSDJPYGoldBitcoin
1 pip*1 pip*45 pips *0.75%
*variable spreads
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Pros

  • Practice trading with $100K
  • Popular social trading platform
  • exchange and wallet
  • More than 65 different cryptocurrencies
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Cons

  • High spreads.
Your capital is at risk

#5. PuPrime Best platform, Support and Deposit Bonus

PuPrime

If you’re looking for the best offshore broker that offers a range of products and services, then PuPrime is your go-to place. With their minimum deposit set at just $20 dollars with 50% bonuses on top! They also have options like Islamic forex accounts or even CFDs which can be traded up 1:500 depending on what type suits YOU more!!

PuPrime Fees and Spreads

EURUSDUSDJPYGoldBitcoin
1.28 *1.78 *2.39 *12.9 *
*Standard account
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Pros

  • Practice trading with $100K
  • Popular social trading platform
  • 50% Welcome Bonus! Special Offer!
  • Spreads as low as 0.0 pips
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Cons

  • Their website is not in Arabic
Your capital is at risk

#6. Pepperstone Best Regulated Broker in Dubai 

Pepperstone

Pepperstone, one of the largest forex brokers in global trade with operations across multiple continents and under various licenses from Australia to UAE, has achieved another milestone. The company processed a huge order worth $125 billion in the last year, which makes it popular and profitable too! In honor of their success, they have chosen this location for future developments - Dubai Financial Center will soon become the main base when it comes to electronic devices or anything related to trade related business such as US currency transactions etc, so if you want better rates than anywhere else around city, then look no further for it here at Pepperstone.

Pepperstone fees and spreads

EURUSDUSDJPYGoldBitcoin
0.4 *1 *0.28 *30 *
*variable spreads
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Pros

  • Broker regulated by ASIC, FCA and DFSA (Dubai)
  • Cryptocurrency trading
  • Spreads as low as 0.0 pips
  • Award-winning broker
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Cons

  • No bonuses or promotions.
Your capital is at risk

UAE Forex brokers Comparison 

Compare here the top regulated CFD and forex brokers that accept residents from the UAE

Sponsored Broker
5.0/5
Founded: 2011
Regulatory Bodies: CySEC, FCA, FSCA, CMA, and FSC
Min. Deposit: $10
Islamic account:
Promotions: Free demo accounts
Trading platforms: MT4, MT5, Mobile
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.1 points
Maximum leverage: 1:2000 / 1:30 (EU-UK)
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer
Your capital is at risk
Best Broker 2022
4.8/5
Founded: 2006
Regulatory Bodies: ASIC, CySEC, FSCA, FSA, ADGM, Central Bank of Irealand
Min. Deposit: $100
Islamic account:
Promotions: New Customer Bonus up to $10,000
Trading platforms: webtrader and MT4- MT5, AvaOptions, AvaTrade Go, Duplitrade
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.9
Maximum leverage: 1:400
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer
Trading CFDs and Forex Options involves risks and may result in the loss of your capital
4.8/5
Founded: 1996
Regulatory Bodies: BVIFSC
Min. Deposit: Not applicable
Islamic account:
PromotionsWelcome Bonus 50 % Special Offer!
Trading platforms: fxtrade mobile app and MT4- MT5
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.2
Maximum leverage: 1:200
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer
Your capital is at risk
5.0/5
Founded: 1998
Regulatory Bodies: CySEC, FCA, CIMA, DFSA
Min. Deposit: $100
Islamic account:
Promotions: Free demo accounts
Trading platforms: MT4, MT5
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.1 points
Maximum leverage: 1:200
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer
Your capital is at risk
4.8/5
Founded: 2007
Regulatory Bodies: ASIC, FCA, CySEC
Min. Deposit: $50 - $200
Islamic account:
Promotions: Free demo accounts
Trading platforms: eToro platform
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 3 points
Maximum leverage: 1:30
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer, iDeal, Sofort, Paypal
Your capital is at risk
Founded: 2010
Regulatory Bodies: ASIC, FCA, DFSA
Min. Deposit: $200
Islamic account:
Promotions: Free demo accounts
Trading platforms: ctrader, MT4, MT5
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0 points
Maximum leverage: 30:1
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer, Paypal
Between 74-89 % of retail investor accounts lose money when trading CFDs
Founded: 1998
Regulatory Bodies: CySEC, FCA, DFSA, JSC, Banque du Liban, FSC
Min. Deposit: $250
Islamic account:
Promotions: Free demo accounts
Trading platforms: MT5 and CTrader
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.3
Maximum leverage: 1:500
Deposit options: Wire Transfer, VISA, Mastercard, Skrill, Neteller
Your capital is at risk
Founded: 2005
Regulatory Bodies: ASIC, CySEC
Min. Deposit: $100
Islamic account:
Promotions: Free demo accounts
Trading platforms: Iress, WebTrader, MT4, MT5
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0 points
Maximum leverage: 500:1
Deposit options: Credit Card, Skrill, Neteller, Bank Transfer, SticPay, FasaPay, Dragonpay, PerfectMoney, XPay
Your capital is at risk
Founded: 2009
Regulatory Bodies: CySEC, FCA, IFSC, ASIC
Min. Deposit: $5
Islamic account:
PromotionsGet started with 30$ Trading Bonus. No deposit required
Trading platforms: MT4, MT5, XM WebTrader
Available markets: Forex Stocks Indices Commodities Cryptocurrencies
Trading conditions:
Spreads from: 0.6
Maximum leverage: 1000:1
Deposit options: Credit Card, Skrill, UnionPay, Neteller, Bank Transfer, Webmoney
Your capital is at risk

 About the Dubai Financial Services Authority

 Dubai is a bustling metropolis in the United Arab Emirates (UAE) that is known for its luxury hotels, towering skyline, and sunny beaches. It is also home to the Dubai Financial Services Authority (DFSA), which is the regulator for financial services in the Dubai International Financial Centre (DIFC).

 The DFSA's mission is to safeguard and enhance the reputation of Dubai as a leading international financial centre. The DFSA regulates banks, insurers, investment firms, and other financial institutions in the DIFC. It also enforces rules and regulations to ensure that these companies operate in a fair, transparent, and efficient manner. The DFSA is committed to protecting investors and promoting market confidence. 

Dubai Financial Services Authority (DFSA) website: www.dfsa.ae

 About the Abu Dhabi Global Market (ADGM)

Abu Dhabi Global Market (ADGM), located in the capital city of the United Arab Emirates, is a free zone and an international financial centre meant to boost Abu Dhabi's economy and establish the city as a regional financial hub.

The ADGM was established in 2013 by Abu Dhabi's ruler, Sheikh Khalifa bin Zayed Al Nahyan, with the goal of attracting foreign direct investment and promoting Abu Dhabi as an international finance centre. To achieve this, the ADGM offers a number of benefits to businesses, including tax-free status, 100% foreign ownership, and a liberal visa regime.

 In addition, businesses can choose to be regulated by either the Abu Dhabi UAE Financial Services Regulatory Authority or the UK Financial Conduct Authority.

 The ADGM is also home to a number of prestigious financial institutions, such as HSBC and Citigroup. With its many advantages, it is no surprise that the ADGM is quickly becoming a leading financial centre in the Middle East.

AGDM website: www.agdm.com

FAQs

Is forex trading legal in the UAE?

Forex trading is indeed legal in the UAE. There are a number of licensed brokers where you can trade forex currency pairs, commodities, and CFDs. You can find more information on the website of the UAE Central Bank. However, before you start trading, it is important to educate yourself about the risks involved and to have a solid trading plan. Otherwise, you could end up making some costly mistakes.

Is forex halal in Islam?

There is a debate among Muslim scholars about whether forex trading is riba (usury or prohibited interest). Most scholars say that it is not because the exchange of currencies does not involve the lending and borrowing of money. However, there are some scholars who argue that forex trading is riba, because it involves the taking of risk in order to make a profit.
Whether or not forex trading is haram (prohibited) depends on your interpretation of Islamic law. Some Muslims believe that any form of gambling or speculation is haram, while others believe that only certain forms of gambling are haram. So it's up to each individual trader to decide what they believe and to abide by their own personal interpretations of Islamic

What is the minimum trading amount in the UAE? 

There are a few different answers to this question, as it depends on the broker you choose and the type of account you open. For example, Oanda requires a minimum deposit of $1 to open an account, while bdswiss requires a minimum deposit of $10. Overall, the average minimum deposit required to trade forex is around $100-$200