The UAE has one of the biggest financial markets in the world and the leading center in the Middle East and Gulf area. What are the best brokers to trade in the UAE?

Broker in Emirates

With the GDP per capita reaching $43,103 (2019) according to World Bank, UAE is undoubtedly one of the biggest financial centers in the world and the main leading center in the Middle East and Gulf region. Consisting of seven emirates, the most important hubs are the capital Abu Dhabi and Dubai, which host the two main financial exchanges in the country.

Over the years, the advanced development of the UAE has created many opportunities for trading and investment. The high-income population of UAE then began to diversify their investment to various markets, including forex. That is why many forex brokers are entering the UAE market.

Here is our list of the best brokers in the UAE:

  1. XM: Excellent all-rounder broker.
  2. Swissquote: Reputable bank and bokerage firm.
  3. AvaTrade: Multilingual broker for novice traders.
  4. ADSSOffers instant deposit for UAE traders.
  5. Plus500: Best for commission-free trading.
  6. Axi: Trusted low-cost forex broker.
  7. Admiral Markets Jordan: Best for beginner traders.
  8. FP Markets: Regulated broker with various trading platforms.
  9. FBS: Offers various promotional campaigns.
  10. easyMarkets: Great multi-regulated forex broker

But before we explore each broker, it's important to know the legality of their situation and what you should be looking for in their services.

 

Is Forex Trading Legal in UAE?

First of all, forex trading is 100% legal in UAE. In fact, since forex trading became entirely legal in the country, more and more retail investors living in the Emirates have started investing their money in this highly dynamic field, creating a solid base for online forex trading activities.

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, whereas Dubai has its own regulatory authority called the Dubai Financial Services Authority (DFSA).

All brokers that operate in the UAE must be regulated and obtain a license either from the SCA, Central Bank, or other regulatory authorities. They should also comply with Sharia law, which means that certain operational requirements must be fulfilled.

In addition, any non-resident international entity or forex broker that wishes to offer its service within the Emirates should have a local or domestic representative in the country, either in the mainland or in any financial zone. So before they can operate, they must be listed under the SCA or DFSA and gain approval from either of them.

 

Things to Consider When Choosing a Broker in the Emirates

If you are in the process of selecting a broker in Emirates, make sure to follow these criteria so you don't end up in a broker that is not ideal for you:

 

1. Regulated in the UAE

As mentioned before, the regulation for forex trading in the Emirates is pretty strict compared to other countries. Therefore, it is highly recommended to choose a broker who has been regulated by at least one of the financial authorities in the UAE. This ensures that the broker is allowed to operate legally within the country's borders and is able to meet the standard imposed by the regulator.

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.

 

2. Sharia Law Compliant Account

Brokers who operate in the Mainland are basically brokers who aim to do business with the locals. They must comply with certain rules, such as having a local office and having at least 51% local ownership. Thus, these brokers are usually safer for UAE-based traders

As a Muslim-majority country, the country mainly uses the Sharia law. Consequently, regulators also need to ensure that financial activities such as forex trading that take place in the Mainland are Sharia compliant. This means, brokers must offer a swap-free account for clients in the UAE.

 

3. Local Deposit and Withdrawal

Another factor to consider is whether the broker offers 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.

 

4. Support for Local Language

The official language of the UAE is Arabic, but in the court, there are five other official languages used namely English, Chinese, French, Hindi, and Russian. It would be great if you choose a broker that provides at least one of these languages on their website as a form of customer support and care. Also, find out if the customer service and mobile apps are available in your local language.

 

5. Bonus Promotions for UAE Traders

Last but not least, some brokers may provide bonus promotions for UAE clients. These bonuses can be exclusive to UAE clients only or available in other countries as well. This can be a great opportunity to earn extra money or practice trading without risks. The latter is particularly beneficial for beginner traders or any trader who wants to try out different strategies on live markets for free.

 

Best Forex Brokers in UAE

Based on the criteria and the conditions of forex trading in the Emirates, here are some recommended forex brokers to choose:

 

1. XM

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English, French, Italian, German, Korean, Portuguese, Vietnamese, Tagalog, Indonesian, and more
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

Since it was founded in 2009, XM has matured into a massive forex broker with more than 1,500,000 clients worldwide. With clients from well over 190 countries, XM supports more than 30 languages and claims to process most of the orders instantly with no re-quotes and no rejections. XM is regulated by two top-tier regulators, CySEC and ASIC. In the Emirates, XM is under the regulation of DFSA with license number F003484 and has a local office in Dubai.

The broker offers various instruments including forex trading, CFDs on equity, indices, precious metals, and energies. The broker also offers more than 25 secure payment methods across 16 full-feature trading platforms. The minimum deposit to open a trading account in this broker is $5.

For Muslim traders, XM offers a swap-free account with no additional fees. The service is available by request to the broker's support. As for deposit and withdrawal payments, traders can choose between cryptocurrencies, debit/credit cards, local banks, Apple Pay, and Google Pay.

🌐 Website
www.xm.com
Leverage
1:1000
💼 Regulation
💲 Min Deposit
$5
Year Established
2009

Bonuses
Personal manager
Segregated accounts
Free education
Trading by phone
Compensation scheme
Negative balance protection
VPS
Affiliate program
Copy trading
Webinar
WebMoney
Skrill
Wire transfer
Neteller
CashU
QIWI
FasaPay

XM Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under XM Group have significant experience as financial services providers worldwide.

Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia, XM Global Limited was established in 2017 with headquarters in Belize and Trading Point MENA Limited was established in 2019 with headquarters in Dubai.

XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) - Trading Point of Financial Instruments Ltd, FSC (Financial Services Commission) – XM Global Limited, the ASIC (Australian Securities and Investments Commission) - Trading Point of Financial Instruments Pty Ltd and DFSA (Dubai Financial Services Authority) - Trading Point MENA Limited.

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and EN Live Edu that is instructed by 16 global experts.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Crypto, Stock CFDs, Turbo Stocks, Commodities, Equity Indices, Precious Metals, Energies, & Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. Minimum deposit of $5 applies to Standard, Micro, and also Ultra-Low Accounts. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing services in more than 30 different languages across the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.

For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.

 

2. Swissquote

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, French, Russian, Chinese (Simplified), Chinese (Traditional), German, Italian, Spanish, Czech
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

Swissquote Bank Ltd is an online forex, CFDs, and derivatives trading broker that was founded in 1996. It is a part of the Swissquote Group Holdings Ltd and represents the swiss-based trading division of the company. It is a low-risk regulated entity that operates under the jurisdictions of four tier-1 regulatory bodies: SFC, MAS, FINMA, and the FCA. In UAE, Swissquote MEA Ltd is headquartered at the DIFC and has obtained 3A licenses from the DFSA.

Swissquote offers a comprehensive and highly diversified asset base consisting of more than 400 forex and CFD instruments suitable for almost any kind of trader. They also provide an excellent education suite for beginners who want to learn forex trading as well as an insightful Newsroom that provides daily reports and market analysis. The customer support is very supportive and available in more than 10 languages.

🌐 Website
en.swissquote.com
Leverage
1:100
💼 Regulation
💲 Min Deposit
$1000
Year Established
1996

Free education
Trading by phone
Wire transfer

As a leading Swiss banking group, Swissquote is considered one of the most well-known online financial and trading services providers. The company is listed on the SIX Swiss Exchange since May 2000, but their story originated back in the 1990s, where Marc Bürki and Paolo Buzzi set up a business in financial software.

Swissquote's main vision is to enable private investors to access real-time prices free of charge. They follow a mission of "democratizing banking" by upholding the values of transparency, integrity, and unbiased information for the benefit of clients, in turn allowing them to make independent decisions.

Today, Swissquote is a global financial services provider with official branches in several major areas in the world like the European area, Middle Eastern, and Asian financial centers. From 2017 to 2018, it claims as the first online bank to offer crypto trading and participation in Initial Coin Offering (ICO).

Trading in SwissQuote guarantees a regulated environment, as the broker is licensed in some of the most well-known jurisdictions in the financial industry, including the Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA) from the UK.

The broker also has local regulations for other branches in other jurisdictions such as the Malta Financial Services Authority (MFSA), the Dubai Financial Services Authority (DFSA), and the Securities & Futures Commission (SFC) from Hong Kong to enable non-EU traders to register under its account with regulated services.

SwissQuote is notable for its wide variety of trading instruments, such as 8,500+ stocks and more than 800 ETFs. Forex pairs, cryptocurrencies, government bonds, and a range of commodity CFDs are also provided to clients.

The company presents a special deposit protection scheme that amounts to CHF100,000 in the event of bankruptcy proceedings. Traders from other countries are offered many choices of base currencies like EUR, USD, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, and CZK.

Opening an account in SwissQuote for forex trading is available in 3 different choices:

Standard

  • Spreads: from 1.7 pips
  • Commission: none
  • Minimum deposit: $1,000
  • Minimum trade: 0.01 lot
  • Leverage: 1:100

 

Premium

  • Spreads: from 1.4 pips
  • Commission: none
  • Minimum deposit: $10,000
  • Minimum trade: 0.1 lot
  • Leverage: 1:100

 

Prime

  • Spreads: from 1.1 pips
  • Commission: none
  • Minimum deposit: $50,000
  • Minimum trade: 1 lot
  • Leverage: 1:100

Dubbed as the most popular account, Swissquote put Premium account as the recommended choice for forex traders, as it balances a competitive spread and affordable minimum deposit according to their standard.

For the trading platform, traders can choose between MetaTrader or Sawissquote's proprietary product called Advanced Trader. To provide traders with the best experience in trading, the company also puts complementary analytical tools such as Autochartist and Trading Central signals.

For MetaTrader fans with a desire to trade in an advanced trading environment, Swissquote offers the MetaTrader Master Edition.

As the company is more suitable to experienced traders with a medium deposit capability, they do not have a complete educational package to offer to new traders. However, they arrange free webinars for everyone who would like to continually upgrade their trading knowledge. This program is managed by professional figures in the financial industry and is available in 4 languages: English, German, French, and Arabic.

All in all, Swissquote is an ideal broker for traders with enough experience to trade with more than $1,000 as their starting deposit. Its long-standing history and qualified background as a member of a Swiss banking group provide high credibility and a guaranteed trading environment that not many can offer.

However, it is also important to note that Swissquote does not offer various deposit and withdrawal methods, as they mainly focus on bank transfer and credit card payments that they revolutionized in 2018 by launching a multi-currency credit card.

 

3. AvaTrade

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, UAE, English-UAE, English, French, Chinese (Simplified), Chinese (Traditional), German, Spanish, Portuguese, Turkish, Indonesian Malaysian, Mongolian, South African, and more  
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

AvaTrade is a well-known broker that has been around since 2006. With no less than 200,000 registered clients worldwide, AvaTrade has become one of the best brokers worldwide that has won many awards in the past few years. The broker offers quite a wide range of more than 1000 trading instruments including indices, commodities, forex, bonds, etc. The broker is regulated by several trusted regulators, including the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA).

AvaTrade aims to offer multilingual services for international traders, making it an excellent broker for UAE traders. The website is available in a wide number of languages, including Arabic, UAE, English-UAE, and more.

Clients in the UAE can open an Islamic account that is mainly similar to a regular account except that it is not subjected to any special fees or interests. Using this account, clients may keep their positions open for a maximum of 5 consecutive days without incurring any overnight fees or swaps. On top of that, AvaTrade offers access to Islamic halal trading of gold, silver, oil, and indices.

🌐 Website
www.avatrade.com
Leverage
1:400
💼 Regulation
💲 Min Deposit
$100
Year Established
2006

Bonuses
PAMM
Personal manager
Trading contests
Segregated accounts
Managed accounts
Free education
Compensation scheme
Negative balance protection
Swap
Low spread eur/usd
Islamic account
VPS
Affiliate program
Copy trading
Webinar
WebMoney
Skrill
Wire transfer
Neteller

Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.

AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.

In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.

Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.

The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.

Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.

In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).

Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.

With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).

AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.

New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.

There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.

If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.

 

4. ADSS

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

ADSS is a global broker that was established in 2010. It offers a wide access to various instruments and is fully regulated by two top-tier regulators, namely FCA in the UK and SCA in the UAE. Additionally, ADSS has a local office in Abu Dhabi to assist and support the local market.

In ADSS, there are many interesting features specifically intended for the Emirates and Middle East traders. First, you can open a swap-free Islamic account which allows you to hold positions overnight without having to worry about swaps. You can also enjoy the same spreads as regular accounts as long as your equity level exceeds $30,000. The swap-free feature is available to any account type, including Classic, Elite, and Elite+.

Secondly, ADSS offers easy deposit using various payment methods. For UAE traders, there is an option to make instant deposit via UAEPGS, which is a transfer payment gateway introduced by the Central Bank of the UAE. With this method, you can fund your account in less than 30 minutes.

Lastly, the company also allows traders to open an Elite/Elite+ account with AED as one of the available base currencies. This makes it easier to fund your account and helps you avoid conversion fees. 

 

5. Plus500

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, German, Italian, Spanish, French, Chinese, and more.
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

Plus500 was founded in 2008 and is authorized by the CySEC, ASIC, MAS, as well as the Israel Securities Authority (ISA). In the Emirates, Plus500 operates under the regulation of DFSA with license number F005651. Plus500 offers commission-free trading for more than 2,500 leveraged CFD instruments covering forex, commodities, indices, shares, cryptocurrencies, and others.

The company has a separate entity for UAE customers called Plus500 UAE. It also provides all services and tools fully in the Arabic language, particularly convenient for non-English speakers.

🌐 Website
www.plus500.com
Leverage
1:300
💼 Regulation
💲 Min Deposit
$100
Year Established
2008

Bonuses
PayPal
Skrill
Wire transfer

Plus500 is a UK-based company with its main offices located in the city of London. The company is authorized and regulated by FCA. For traders who are looking for a broker with top-tier regulators, Plus500 can be the right choice.

Plus500 offers 2,000 instruments to over a million clients. List of instruments available for trading with their CFD service include forex currency pairs, indices, cryptocurrencies, commodities, shares, and ETFs. Traders can choose instruments suitable for their needs.

Regardless, beginners should be extremely cautious while choosing their assets, as it can get daunting, confusing, and inherently risky.

When traders open an account, Plus500 will hold traders' funds on a segregated basis, following FCA's client money rules. Traders do not need to worry about Plus500 using their funds for hedging, as it is strictly prohibited to use clients' funds for this purpose.

Other advantages when trading in Plus500 are tight spreads and no commissions. The company only offers a single type of account, but traders can update the account from Retail to Professional by following some standards.

To apply Professional Accounts, traders have to fulfill at least 2 of the following 3 criteria eligible, such as sufficient trading activity in the last 12 months, financial instrument portfolio of over 500,000 Euro, and relevant experience in the financial services sector.

Plus500 is well-regarded for its services through the market spread, leverage up to of 1:30 for Retail Accounts, and leverage up to of 1:300 for Professional Accounts. Plus500 tries to give a sensible choice of leverage, which not only controls the risk but also helps novice traders to exercise more control over their trading emotions.

Founded in 2008, Plus500 provides almost the same features to both Retail and Professional account, including clients' money protection, negative balance protection, best execution for orders, clear and transparent information, as well as financial services compensation scheme. Still, Professional account is more advanced as it has access to FOS.

Based on the statistics, 76.4% of Retail account owners in Plus500 lose money when trading CFDs. Because of that, Plus500 always warns traders to consider their understanding of how CFDs work and their affordability to take high risk of losing money, before starting a trade in Live Account.

Even so, Plus500 has gained the trust of traders throughout the world. They have around 39 million positions opened, 304,000 active customers, and billions of volume trading processed by their system.

Plus500 always tries to give the best services to their clients. One of the ways to reach their goals is by making clients feel confident in their trading activity. They have a simple and easy-to-use trading platform, with an especially well-designed mobile platform. Traders can access the Plus500 platform via web-trader, iPhone/iPad, and Mobile App.

In their platform, traders will get advanced tools such as stop limit, guaranteed stop, free email and push notifications on market events, and alerts on price movements. All of these tools can help traders to navigate the market with better understanding.

As for payment methods, Plus500 provides various choices like Visa or MasterCard, electronic wallets (PayPal and Skrill), and bank transfer (direct bank to bank funds transfer).

For any concerns, troubles, or trading issues, traders can contact Plus500's customer service that is available 24 hours a day and 7 days a week. The official website of Plus500 can be accessed in 24 languages.

Overall, Plus500 has some advantages and disadvantages. As it has a license from an elite regulator, traders can feel safe when trading in Plus500. It also provides a 24/7 support team to help traders. But, offering leverages up to 1:300 is not suitable for high-risk traders, such as scalpers, who indulge in high-frequency trading that holds positions in the market for a brief period and typically use high leverage.

 

6. Axi

  • Regulated in the UAE: Yes
  • Local Office: Yes
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, Spanish, Chinese, French, Indonesian, Italian, Korean, Portuguese, Chinese, and more
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

Axi is an Australian-based broker that was established in 2007 and is regulated by FCA and ASIC. In the Emirates, Axi is regulated by the DFSA with license number F003742. The broker has grown to be one of the largest forex brokers in the world with traders from all across the countries, including the UAE.

Axi's web-based trading platform is available to use for free, along with the desktop version and mobile apps. Trading fees are low compared to other brokers, and the deposit and withdrawals are free of charge. Customer support can easily be reached via phone, email, or live chat using various languages to communicate with people all around the world.

To open a live trading account, you only need to deposit at least $1. Swap-free Islamic accounts are also available for Muslim traders. The deposit methods vary starting from credit cards to bank transfers. Interestingly, some methods allow you to deposit in AED, so you don't need to worry about conversion fees.

🌐 Website
www.axi.com/int
Leverage
1:500
💼 Regulation
💲 Min Deposit
$0
Year Established
2007

Bonuses
PAMM
Personal manager
Trading contests
Segregated accounts
VPS
MAM
Free education
Trading by phone
Skrill
Wire transfer
Neteller

If traders are looking for brokers with elite class regulations, Axi can be the right choice. Axi is an Australian broker registered under ASIC and FCA. This is the main point because the two regulators are widely recognized to have strict regulations.

"Created by traders, and for traders" is a mission carried by Axi since its foundation in 2007. They continue to strive to accommodate the needs of traders. Axi had the strongest brand association with being "trustworthy" among current FX Traders in December 2014.

In addition, Axi also received other awards, including the most reliable Forex Broker 2017, Highest Overall Client Satisfaction Investment Trend 2017, Commenced back-office operations in Philippines, Cyprus & Singapore 2018, Best MT4 Broker 2018 by the UK Forex Awards, and the Most Trusted Forex Brokers by the 2018 Forex Forex Awards. With the various achievements that have been obtained, Axi seeks to build the confidence of traders from all over the world.

Traders can monitor the movements of spreads on Live Spreads, which are provided by Axi on its official website. These floating spreads are beneficial for traders when price volatility is not high.

In addition to spreads, the difference is also seen in the commission on each account. There is a commission of around USD7 for Pro Accounts, whereas, for Standard Accounts, traders do not need to spend funds for commission.

Meanwhile, the minimum trade size is 0.01 lots and leverage is up to 1:400. Traders can choose their deposit amount because Axi does not specify a minimum amount. Instead, traders have the opportunity to profit when trading on Axi with a 20% deposit bonus. Opportunities to open positions thus increase, accompanied by deposit bonuses that can be withdrawal easily and quickly.

There are around 80 currencies and CFDs traded on Axi. Besides, the company also offers traders looking for diversified investments in other assets like gold, silver, oil, and 11 indices. To attract the attention of traders from various countries, Axi also provides a variety of currencies that can be used by traders as base currency, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD.

Traders at Axi can enjoy free VPS provided by third parties by depositing a certain amount. The Virtual Hosting Service uses an external server to ensure the platform stays running 24 hours a day and prevents Downtime. Of course, this service is very useful for those who use Expert Advisors.

When trading forex, chart analysis becomes an unavoidable activity. Traders do not need to worry about that when trading with Axi. Because one of the advantages of the Axi broker is Autochartist signals. This facility is useful for following market movements precisely. For traders who use MT4 Standard Account and MT4 Pro Account, they will get Autochartist signals for free.

Besides being able to easily understand the pattern of price movements through Autochartist, Axi also provides easy access to sophisticated trading tools under the name of MT4 NexGen. The advantage of this platform is to find out trading sentiments, Market Insights, Correlation Traders, and Alarm Managers. With this technology, traders can easily access super-fast networks and can handle any high-frequency inflows to scalping.

Traders can also add knowledge about forex trading with the Webinar facility, which is provided by Axi for free. Professional traders and experienced analysts will provide traders with a variety of new trading knowledge in this education program.

Not only that, opening an account in Axi can lead to other experiences such as copying trading strategies from professional traders, with tools like as DupliTrade, Myfxbook, and ZuluTrade. Traders are free to copy trading strategies from professional traders and apply them to their own trade.

If there are still other questions, traders can contact Axi support that is active 24/5. Their staff comes from all over the world, so they got a global team that speaks traders' language from various countries in the world.

 

7. Admiral Markets Jordan

  • Regulated in the UAE: No
  • Local Office: No
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, French, Dutch, Italian, Romanian, Spanish, Portuguese, Indonesian, and more
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: Yes

Founded in 2001, Admiral Markets is a leading forex and CFD broker that now operates in no less than 130 countries worldwide. The company is quite popular in the UAE as well.

Admiral Markets Jordan provides access to various tradable instruments, namely forex CFDs, share CFDs, indices CFDs, bonds CFDs, and commodity CFDs. you can easily choose a trading account type based on the trading platform that you use. To open an account, you must complete the registration process and deposit at least 100 AED. Moreover, the broker offers many beginner-friendly features such as educational content and frictional shares.

The swap-free option is only available for Trade.MT5 accounts. It basically has the same trading conditions as regular accounts, except that it charges administration fees instead of overnight swaps.

🌐 Website
admiralmarkets.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$1
Year Established
2001

Bonus offers
Trading contests
Free education
Trading by telephone
PAMM
MAM
Segregated accounts
Affiliate program
Islamic accounts available
Compensation scheme
Negative balance protection
Swap
Low spread eur/usd
VPS
Copy Trading
Neteller
PayPal
Skrill
Wire transfer

 

8. FP Markets

  • Regulated in the UAE: No
  • Local Office: No
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, Spanish, Chinese, Italian, German, Russian, Indonesian, Greek, Dutch, Korean, and more
  • UAE-based Customer Support: Yes
  • Bonuses for UAE clients: None

First Prudential (FP) Markets was first established in 2005 and headquartered in Sidney, Australia. The broker is regulated by the main regulator in Australia, ASIC, and already has a long track record.

Traders can choose to trade on the famous MT4 or its predecessor MT5. Aside from that, there is also an option to use copy trading and social trading platforms.

In FP Markets, there is an Islamic account for Muslim traders that follows four main principles: the prohibition of gambling, prohibition of Riba, risk and benefits distribution, and immediate exchange. So, instead of overnight fees, traders will be charged an administration fee on positions which is automatically deducted from the account balance.

🌐 Website
www.fpmarkets.com
Leverage
1:500
💼 Regulation
💲 Min Deposit
$100
Year Established
2005

Free education
Personal manager
Trading by telephone
PAMM
MAM
Segregated accounts
Affiliate program
Islamic accounts available
Hedging
Negative balance protection
Low spread eur/usd
VPS
Copy trading
FasaPay
Neteller
Skrill
Wire transfer

Keeping positions open overnight won't result in the overnight/rollover fee reducing your earnings, so you don't have to worry about it. FP Markets offers the most competitive swap rates in the industry by introducing Swaps Points in the form of a live swap rates list on the MT4 and MT5 platforms. Here are some examples:

  • ACWI: -5.00 for long positions and -2.50 for short positions.
  • ADAUSD: -20.00 for long positions and -20.00 for short positions.
  • AGG: -5.00 for long positions and -2.50 for short positions.

 

9. FBS

  • Regulated in the UAE: No
  • Local Office: No
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Korean, Chinese, and more
  • UAE-based Customer Support: No
  • Bonuses for UAE clients: Yes

FBS is a highly reputable broker that was established in 2009 and is regulated by the IFSC in Belize and the CySEC in Cyprus. Over the years, the company has developed into one of the biggest brokers in the world with advanced technology and capability, supporting over 12 million traders from 190 countries, including the UAE. The broker offers a wide variety of trading assets including forex, commodities, metals, cryptocurrencies, and more.

With only $100, you can open a live trading account in FBS and get a flexible margin of up to 1:500. Islamic account is also available for Standard, Demo, and Cent accounts.

In addition, FBS offers many interesting contests and bonus programs from time to time. For instance, to celebrate the holy month of Ramadan, FBS held an event called Trade & Aid Charity Promo. During the event, traders can open a special account and get a 300% bonus for making a deposit of at least $100. After the event ended, the broker donated half of the spread and commissions earned to various charities.

🌐 Website
fbs.com
Leverage
1:3000
💼 Regulation
💲 Min Deposit
$5
Year Established
2009

Bonus offers
Trading contests
Free education
Affiliate program
Islamic accounts available
Compensation scheme
Negative balance protection
VPS
Education
Webinar
Low spread eur/usd
FasaPay
Neteller
Skrill
Wire transfer

Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.

FBS is regulated by FSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.

Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.

FBS spread begins from 0.5 pips for Pro account type and from 0.7 pips for Standard and Cent accounts. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.

Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading instruments: 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs.

Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.

FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.

MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.

Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of FSCing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.

Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.

Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.

Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.

In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.

 

10. easyMarkets

  • Regulated in the UAE: No
  • Local Office: No
  • Swap-free Account: Yes
  • Local UAE Banks for Deposit and Withdrawal: No
  • Supported Languages: Arabic, English, Chinese, Spanish, Japanese, German, Italian, Portuguese, and more
  • UAE-based Customer Support: No
  • Bonuses for UAE clients: Yes

easyMarkets was founded in 2001 with a mission to provide favorable trading conditions that anyone could access. Users should deposit at least $25 to open an account and can fund their money via credit card, bank wire transfer, e-wallets, or crypto deposits.

The broker is under the regulation of several top regulators such as ASIC and CySEC. There are several trading accounts to choose from, and a demo account is available for beginner traders. easyMarkets offers MetaTrader 4 as their main trading platform, which can be accessed from PC, tablet, and mobile apps. To top it off, the broker offers a number of promotional campaigns such as the 50% first deposit bonus of up to $2000, refer a friend, and affiliate program.

🌐 Website
easymarkets.com
Leverage
1:400
💼 Regulation
💲 Min Deposit
$25
Year Established
2001

Bonuses
PAMM
Personal manager
Trading contests
Segregated accounts
MAM
Free education
Trading by phone
WebMoney
Skrill
Wire transfer
Neteller
FasaPay

Since 2001, easyMarkets have been writing their stories in financial markets. Simple, Honest, and Transparent, become three values that are carried on easyMarkets. The company has tried to make the process of trading as simple as possible.

They rebranded from easy-forex to easyMarkets in 2016. Over the years, easyMarkets expanded their CFD offerings to include global indices, options, metals, forex, commodities, and cryptocurrencies. The company is licensed by CySEC and ASIC.

Another privilege when trading in easyMarkets is its own platform. easyMarkets platform is simple and versatile. Based on reviews from traders, it's friendly to new clients and hosts a lot of features for experienced traders. Clients also receive free guaranteed stop loss, no slippage, fixed spreads, and no funding or withdrawal fees from easyMarkets.

There are three uniques features in the platform. Firstly, dealCancellation gives traders the ability to "undo" their trade. easyMarkets is the only broker that offers a way to close trade before it reaches 60 minutes duration only with a small fee.

Furthermore, traders can enjoy the Inside Viewer. This tool gives traders a deeper understanding of market sentiment by showing them percentage of buying and selling executed in the platform. The third unique feature is Freeze Rate. traders can pause a rate and place their trade at the "frozen" rate using this tool.

easyMarkets also includes financial calendar, market news, trading charts, and trading signals as the platform's perks. They also offer the technology on the mobile interface via iOS and Android devices. Traders can access markets anywhere and at any time.

MetaTrader 4 is also provided by easyMarkets. When using this popular trading platform, traders will get negative balance protection and fixed spreads. Besides that, Vanilla Options is available in this broker.

Because of those innovations, easyMarkets is an award-winning broker, receiving Forex Broker 2019 by The Forex Expo-Dubai, Most Innovative Broker 2018 by World Finance Markets Awards, Best APAC Region Broker 2018 by ADVFN International Financial Awards, Most Transparent Broker 2017 by Forex-Awards, Best Forex Service Provider 2017 by FXWord China, and many more over the years.

Moreover, easyMarkets offers three account types, such as VIP Accounts, Premium Accounts, and Standard Accounts. All of them can be accessed by the Web/App and MT4 platform. easyMarkets provide maximum leverage at 1:200 when using easyMarkets Web/App platform, and maximum leverage of 1:400 when using MT4.

Fixed spreads start from 1.0 pips in forex trading. Traders can become easyMarkets VIP clients with some benefits, such as trading via telephone, access to the tightest fixed spreads, personal analyst, and real-time market updates via SMS.

Traders do not need to pay additional fees whethere it is for commission, account fees, or deposit withdrawal. Account currencies are available in 18 options including EUR, CAD, CZK, JPY, NZD, USD, SGD, and many more. The company offers multiple ways to deposit and withdraw funds, some of them are credit/debit cards, bank transfers, and a ion of eWallets like Neteller, Skrill, and Fasapay.

For any questions or assistance, traders can contact the company directly at one of their local offices or at their headquarters in the Marshall Islands. Besides, traders can chat with their customer service by email, Facebook, WhatsApp, Viber, and Live Chat.

Based on the review above, easyMarkets provides easy-to-use platforms with some unique tools and it can be accessed by traders anytime and anywhere. Besides, traders do not need to pay extra fees for trading commission and deposit/withdrawal fees. Traders who register in easyMarkets can enjoy low spreads in EUR/USD pairs from 0.9 in the MT4 platform.

 

Conclusion

UAE has a large financial market that can present a huge opportunity for many investors, as well as a great destination for many forex brokers to operate and offer their services. Trading in the UAE market is relatively safe because it is well-regulated and consistently monitored by legal authorities. The list above can provide a good preference if you're interested in trading within the area.