Forex Brokers in United Arab Emirates

UAE brokers should offer the ease of making deposits and withdrawals through local UAE-based banks. While it's not mandatory, such a feature can certainly help traders to reduce costs and trade more efficiently. It is even better if the broker allows traders to deposit or withdraw using United Arab Emirates Dirham (AED). This allows you to make payments without having to worry about conversion fees.

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Forex trading is 100% legal in UAE. In fact, compared to other countries, forex trading in the UAE is relatively safe and well-regulated. The financial regulation zone in UAE is divided into two central local regions: the Dubai International Financial Centre (DIFC) and the rest of the UAE.

The UAE has a regulatory system that consists of the Central Bank of Dubai, the Emirates Securities and Commodities Authority (ESCA), and the Ministry of Economy and Planning. Meanwhile, Dubai has its regulatory authority called the Dubai Financial Services Authority (DFSA).

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Since ADSS is the only forex broker supporting this payment method at the time of this writing, we'd use the broker's deposit steps to guide you:

1. Log in to your ADSS trading account and head over to the Client Portal. Click on "Deposit".
2. Scroll down and hit the "UAEPGS" button.
3. Enter the amount of deposit and click "Make Payment".
4. Check your payment details and click "Confirm".
5. The system will direct you to the UAE Central Bank Payment Gateway page.
6. Choose your bank and the product as "Retail Banking", then click "Submit".
7. Accept the terms and conditions and click "Submit".
8. You will be redirected to your online banking page. Then, log in using your internet banking user credentials.
9. Pick your preferred payment method, review the details, and click "Next".
10. Review your payment details once again and click "Confirm".
11. Enter the OTP codes sent by your bank to your mobile number or email address.
12. You will see the payment confirmation message from your bank. Please wait for the page to redirect back to your ADSS client portal.
13. You will see the payment details of your UAEPGS gateway transaction. Click "Close" to go back to your ADSS Client Portal main page.
14. In order to check the progress of your deposit, click "Accounts" from the top menu and choose the "Funding and Withdrawals" tab.
15. You may notice that your latest transaction's status is pending. Please check back within 30 minutes to ensure that the amount is successfully credited to your account.
16. Once the money is available in your account, you'll immediately be able to use it for trading on the broker's platform.

Continue Reading at Guide to Instant Deposit on ADSS for UAE Traders

Official regulators in the UAE are as follows:

• The Dubai Financial Services Authority (DFSA)
• The Abu Dhabi Global Market (ADGM)
• The Securities Commission Authority (SCA)
• Central Bank of the United Arab Emirates (CBUAE)

It is important to understand that the UAE is divided into two financial areas, namely the Mainland and Free Zones. Brokers who operate in the Mainland are regulated by the SCA or CBUAE. Meanwhile, DFSA and ADGM regulate brokers in the Free Zones, which are designated to encourage foreign investments and allow foreign-owned companies to be located.

Continue Reading at Best Forex Brokers in United Arab Emirates (UAE)