Dubai and other Emirates of UAE are the centers of many forex traders, brokers, and other online trading activities in the Middle East. Here are the top forex brokers in the area.

Forex Brokers in Dubai

The United Arab Emirates (UAE) is one of the fastest-growing online trading centers in the world. It may not be as significant as the 4 major financial centers consisting of London, New York, Tokyo, and Sydney, but in general, the advanced development in UAE and its high-income population has generated great potential for trading and investment growth.

A large segment of the population has diversified their investment in financial markets including forex. Hence, there are a variety of local and offshore brokers in these countries offering their services.

There are many forex brokers in UAE, especially Dubai. Most of them are regulated by regulatory organizations and manage millions of dollars in trades each day. Therefore, traders are advised to be wise when choosing to open an account with any forex brokers residing in this area.

Well, here's the list of top forex brokers in Dubai:

  1. XM: Meeting all the criteria of the best forex brokers in Dubai
  2. HFM: Offers swap free feature in all of its account types
  3. Plus500: Offers fast and commission-free trades with very low spread rates
  4. Axi: Has excellent and multilingual live chat customer service
  5. Swissquote: A Swiss-based trading company that holds 3A licenses from the DFSA
  6. FP Markets: Offers special Islamic accounts for Muslim traders to avoid potential gambling and usury

The five brokers above are recommended because they have met or nearly met several criteria required to be considered the best forex brokers in Dubai. What are those criteria?

 

Things to Consider When Choosing a Broker in the Dubai

If you're looking for the best forex broker in Dubai, make sure your chosen broker meets the following criteria:

 

1. Regulated by DFSA

It's important for you to know that while Dubai is indeed part of the UAE, Dubai has its own regulatory body called the Dubai Financial Services Authority or DFSA.

The DFSA is responsible for overseeing and regulating financial services conducted within the Dubai International Financial Centre (DIFC), which is a major financial hub located in Dubai.

The DFSA functions autonomously and is separate from the central bank of the UAE and the Emirates Securities and Commodities Authority. It has established its own set of regulations and guidelines customized to meet the unique requirements of the DIFC.

For forex brokers and other financial institutions desiring to conduct business within the DIFC, securing a license from the DFSA is a must. This licensing procedure includes a comprehensive assessment of the applicant's financial soundness, adherence to anti-money laundering (AML) and know-your-customer (KYC) prerequisites, and commitment to upholding market integrity regulations.

 

2. Sharia Law Compliant

Just like the Emirates, Dubai is also a country with a majority Muslim population. Therefore, brokers that adhere to Sharia principles would be the best choice for you. In other words, make sure the broker offers swap-free accounts for Muslim clients from Dubai.

With a swap-free account, there are no interest-based transactions involved. This means that traders do not incur or earn any interest on their open positions even for overnight trades. Swap-free accounts also prevent Muslim clients from doing riba, which is the act of earning or paying interest that is prohibited in Islamic principles. 

 

3. Local Deposit and Withdrawal

Another consideration in choosing the best forex broker in Dubai is to look at the availability of deposit and withdrawal options in local currency.

Just like all the countries in the United Arab Emirates (UAE), Dubai uses the dirham as its local currency, commonly abbreviated as AED. While it's not mandatory, selecting a broker that offers AED options will make your transactions more efficient because you won't need to convert to other currencies or incur additional expenses due to conversion fees.

Also, It would be even better if you could also deposit and withdraw using the local banks.

 

4. Support Dubai's Local Language

Besides the availability of the dirham currency, it would be even better if your chosen forex broker also supports the local languages of Dubai on their website, customer service, and mobile apps.

The primary official language used in Dubai is Arabic. Additionally, due to Dubai's diverse population, several other languages are used, including English, Urdu, Hindi, Filipino, Malay, Farsi, and Bengali.

Accessing services in the local language would make it more convenient to transact and communicate with the broker, especially when you have trading issues.

 

5. Have Local Offices in Dubai

While not mandatory, a good Dubai broker should have a physical office or branch in the area. This is because not all client issues can be resolved through live chat or email. Sometimes, a face-to-face meeting is needed to clarify matters.

Additionally, having an office in Dubai adds to client trust because seeing the physical presence of the office ensures the broker's operations are legal.

 

6. Bonuses and Promotions for Dubai Clients

Another thing that can be an advantage when choosing the best forex broker is the availability of bonuses for local clients. If you are in Dubai, make sure your broker offers attractive bonuses and promotions for Dubai clients as well.

Indirectly, this will make clients feel pampered, appreciated, and well-treated. Forex brokers often offer bonuses such as deposit bonuses, no deposit bonuses, welcome bonuses, and so on.

 

Best Forex Brokers in Dubai

Based on the factors mentioned above, you can now identify the criteria that should be present in your chosen broker. Now, here is a list of the best forex brokers that meet or nearly meet all the above criteria for Dubai clients.

 

1. XM

  • Regulated by DFSA: Yes
  • Swap-free Account: Yes
  • Local Dubai Banks for Deposit and Withdrawal: Yes
  • Local Currency for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English, French, Italian, German, Korean, Portuguese, Vietnamese, Filipino, Indonesian, and more
  • Dubai-based Customer Support: Yes
  • Local Office: Yes
  • Bonuses for Dubai clients: Yes

XM is a globally experienced broker with many licenses, including DFSA license number F003484. This broker has been operating since 2009 and has consistently provided various robust trading facilities for its clients. In Dubai, XM has a local office located at Emirates Financial Towers, South Tower, DIFC, Unit 1302, Dubai

The minimum deposit required to start trading with XM is just $5. XM offers three main account types, as well as Islamic swap-free accounts: Micro, Standard, and XM Ultra Low. XM also offers a unique leverage ratio of 1:888.

For deposit and withdrawal payment options, there are several methods available, including wire transfers, debit cards, credit cards, and cryptocurrencies. Don't forget to check XM's website to see the various bonuses offered by XM for Dubai clients.

One of the currently available bonuses is a $50 trading bonus for new clients. There are also promotions like free VPS and the XM loyalty program.

🌐 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. HFM

  • Regulated by DFSA: Yes
  • Swap-free Account: Yes
  • Local Dubai Banks for Deposit and Withdrawal: Yes
  • Local Currency for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English, Urdu, Indonesia, Hindi, Japanese, Korean, Spanish, French, Deutsch, and more
  • Dubai-based Customer Support: Yes
  • Local Office: Yes
  • Bonuses for Dubai clients: Yes

Next, there's the broker HFM, also known as HF Markets, which holds DFSA regulation with the license number F004885. This broker's criteria are on par with XM.

Established one year after XM, HFM has a local office in Dubai located at Central Park Towers Level 20, Office 20-53, Dubai. In terms of its trading conditions, the minimum deposit required to start trading with HFM is $5.

The minimum position size is 0.01 lots with leverage of up to 1:1,000. HFM offers 4 types of accounts: cent, zero, pro, and premium, all of which are swap-free, making them suitable for Dubai clients who adhere to Sharia principles.

Additionally, HFM also offers bonuses available to clients in Dubai and from around the world, including a 100% bonus for the first deposit and a 20% bonus up to $5,000 for each deposit.

🌐 Website
www.hfm.com
Leverage
1:2000
💼 Regulation
💲 Min Deposit
$
Year Established
2010

Bonus offers
Trading contests
Free education
Personal manager
Trading by telephone
PAMM
Segregated accounts
Managed accounts
Affiliate program
Islamic accounts available
Compensation scheme
Negative balance protection
VPS
Copy trading
FasaPay
Neteller
Skrill
WebMoney
Wire transfer

HF Markets is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HF Markets has around 1,500,000 live accounts opened and 200 employees globally.

Based on its services, HF Markets can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade with this broker. Also, there are various account types, trading software, and tools to facilitate individuals and institutional customers to trade forex and CFD online.

HF Markets is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:

  • HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (Europe), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
  • HF Markets SA (PTY), is authorized and regulated as a Financial Service Provider (FSP) by the Financial Sector Conduct Authority (FSCA) in South Africa, under license number 46632.
  • HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
  • HF Markets (DIFC) Ltd, authorized and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
  • HF Markets (UK) Ltd, authorized and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.

If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risks. For that reason, these kinds of clients are granted access to more favorable rates but afforded lesser regulatory protections than retail clients.

Trading with HF Markets can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.

HF Markets offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate pricing and the best possible spreads.

HF Markets receives numerous highly prestigious titles, including the huge honor of being ed to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.

After opening an account in HF Markets, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade on desktop or prefer to trade on-the-go, they can use MetaTrader 4 on desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).

Clients' funds are held in segregated accounts. Only major banks are used by Markets because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.

Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HF Markets ensures that traders make fast transactions 24/5 during the standard hours.

Traders can earn extra income by joining the affiliate program offered by Markets. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HF Markets can be obtained on their official website which is supported in 27 languages.

From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HF Markets, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.

 

3. Plus500

  • Regulated by DFSA: Yes
  • Swap-free Account: Yes
  • Local Dubai Banks for Deposit and Withdrawal: Yes
  • Local Currency for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English, German, Italian, Spanish, French, Chinese, and more
  • Dubai-based Customer Support: Yes
  • Local Office: Yes
  • Bonuses for Dubai clients: Yes

Plus500 was founded in 2008 and headquartered in Israel. It has a platform that supports real-time analyses in multiple markets like forex, stocks, indices, and cryptocurrencies.

This broker is also recommended for you, Dubai clients, because they support local banks and the dirham currency for deposit and withdrawal, just like XM.

Its platform offers fast and commission-free trades with very low spread rates. More than that, this company supports traders with negative balance protection and offers swap-free accounts.

Plus500 is recommended for Dubai clients because it is regulated by the DFSA with registration number 6224. This broker has its headquarters at Unit Office GV04/L01/109, Level 1, Gate Village Building 04, Dubai International Financial Centre, Dubai.

Plus500 also offers bonuses for Dubai clients, but it depends on the regulation you choose at the beginning of registration. Under Plus500SEY, the broker can offer bonuses, for example, for the first deposit.

🌐 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.

 

4. Axi

  • Regulated by DFSA: Yes
  • Swap-free Account: Yes
  • Local Dubai Banks for Deposit and Withdrawal: Yes
  • Local Currency for Deposit and Withdrawal: Yes
  • Supported Languages: Arabic, English, Spanish, Chinese, French, Indonesian, Italian, Korean, Portuguese, Chinese, and more
  • Dubai-based Customer Support: Yes
  • Local Office: Yes
  • Bonuses for Dubai clients: Yes

Another recommended broker for you is Axi. This broker has been operating since 2007 and holds a DFSA license with registration number 2758. Axi also has its headquarters at Unit OT 19-39, Level 19, Central Park Offices, Dubai International Financial Centre, Dubai.

Axi offers Islamic swap-free accounts with a minimum deposit of $0. Their website and customer service are available in various languages, including Arabic. In addition, Axi does support local banks for deposits and withdrawals in Dubai.

🌐 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.

 

5. Swissquote

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

Swissquote is a veteran forex broker that has been operating since 1996. This broker is a Swiss-based trading company operating under the name Swissquote Group Holdings Ltd.

In Dubai, Swissquote, also known as Swissquote MEA, is headquartered at the DIFC and has obtained 3A licenses from the DFSA. This broker also offers the option of swap-free accounts for Dubai clients.

However, Swissquote does not support local Dubai banks or local currency for deposits and withdrawals.

The minimum deposit required is also quite high, reaching $1000 for a standard account. Premium and prime accounts have even higher minimum deposits, at $10,000 and $50,000 respectively. This is something to consider if you plan to trade with a limited budget.

🌐 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.

 

6. FP Markets

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

First Prudential (FP) Markets was founded in 2005 and headquartered in Sydney, Australia. It is considered safe because it is regulated by the top-tier Australian Securities and Investments Commission (ASIC) and has a long track record.

This company offers transparent dealing across a wide ion of 10,000 plus assets with a variety of account types for forex and CFDs. Their clients are also able to trade with 0 pips spreads on their ECN trading. It has a MetaTrader 4 platform that you can leverage up to 1:500.

FP Markets offers an Islamic account designed for Muslim traders, adhering to four core principles: the avoidance of gambling, prohibition of Riba (interest), equitable risk and benefit sharing, and prompt transaction settlement.

🌐 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.

 

Conclusion

The business opportunities in Dubai are undoubtedly substantial since Dubai is renowned as "The City of Gold". Therefore, make sure you only engage in forex trading with brokers who genuinely support your endeavors.

Some of the brokers mentioned above may be suitable choices for you if you intend to trade forex in Dubai because they already meet or nearly meet all the criteria for the best brokers in Dubai.

From the list of brokers mentioned above, it appears that XM and HFM are the most recommended broker for Dubai clients because it meets all the criteria required to be the best broker in Dubai. Additionally, Plus500 and Axi should also be considered because their trading conditions are on par with the top two.

 

Many people mistakenly believe that Dubai is one of the cities in the United Arab Emirates (UAE). However, Dubai is one of the seven emirates that make up the UAE. Therefore, there are some significant differences between the criteria for brokers in Dubai and the best forex brokers in the UAE.