6 Best Forex Brokers in United Arab Emirates (UAE)

The 6 Best Forex Brokers in the UAE – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders from the United Arab Emirates.

In this in-depth guide, you will learn:

• Top Forex Brokers in UAE
• Brokers’ compliance with UAE laws
• Comparison of spreads and commissions
• Account types for different traders
• Available platforms and resources
• Support and assistance quality
• Advantages and drawbacks of each broker

and much, MUCH more!

6 Best Forex Brokers in UAE (2024)

1. ☑️ FP Markets – Overall, the Best Forex Broker in the UAE
2. ☑️ Plus500 – Impressive Proprietary Offering
3. ☑️ AvaTrade – High Level of Regulation
4. ☑️ FXTM – Low Minimum Deposit Required
5. ☑️ Vantage – Popular Broker for Beginners
6. ☑️ Pepperstone – Best Overall Trading Experience

1. FP Markets

FP Markets is a well-established forex broker, founded in 2005. It offers a wide range of trading accounts and features, including leverage up to 1:500. It is highly regulated in regions such as Australia, Cyprus, and South Africa, ensuring top-tier security and investor protection. In addition, the broker offers over 1,000 CFDs, competitive spreads starting from 0.0 pips, and supports multiple trading platforms like MetaTrader 4/5 and cTrader.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for FP Markets?

The minimum deposit is 100 AUD or equivalent.

Is FP Markets regulated?

Yes, FP Markets is regulated by ASIC, CySEC, FSCA, FSA, CMA, and FSC.

Does FP Markets offer an Islamic account?

Yes, FP Markets offers an Islamic account.

What are the trading platforms available at FP Markets?

FP Markets supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, TradingView, and cTrader.

Our Insights

FP Markets stands out as a reliable and secure choice for both beginners and professional traders, offering competitive fees, strong regulatory backing, and a wide variety of account types and platforms. Furthermore, with high-leverage options and an array of educational resources, it is well-suited for active traders and those looking to diversify their portfolios across forex, commodities, stocks, and indices.

2. Plus500

Founded in 2008, Plus500 is a publicly traded broker offering CFD trading on a wide range of instruments such as forex, stocks, commodities, and indices. With over 400,000 active traders, Plus500 is regulated by top authorities including the FCA, ASIC, and CySEC. Moreover, the platform offers competitive spreads from 0.8 pips, no commissions, and leverage up to 1:30 for retail clients.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for Plus500?

The minimum deposit is $100 or equivalent in other currencies.

Is Plus500 regulated?

Yes, Plus500 is regulated by the FCA, ASIC, CySEC, and several other authorities.

Does Plus500 offer an Islamic account?

Yes, Plus500 offers an Islamic account.

What trading platforms are available at Plus500?

Plus500 offers its proprietary WebTrader platform and mobile app.

Our Insights

Plus500 is a solid choice for both beginners and experienced traders due to its easy-to-use platform, competitive spreads, and wide range of tradable instruments.

3. AvaTrade

AvaTrade, established in 2006, is a highly regulated forex and CFD broker with a strong global presence. It is licensed by tier-1 regulators like the Central Bank of Ireland, ASIC, and CySEC, ensuring top-notch security. In addition, AvaTrade offers over 19,000 tradable assets, including forex, stocks, commodities, and cryptocurrencies. It provides various trading platforms such as MetaTrader 4/5, AvaTradeGO, and AvaOptions, with competitive spreads and leverage up to 1:400 for professional traders.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for AvaTrade?

The minimum deposit is 100 USD.

Is AvaTrade regulated?

Yes, AvaTrade is regulated by multiple authorities including the Central Bank of Ireland, ASIC, and CySEC.

Does AvaTrade offer an Islamic account?

Yes, AvaTrade offers Islamic accounts.

What trading platforms does AvaTrade offer?

AvaTrade offers MetaTrader 4, MetaTrader 5, AvaTrade WebTrader, AvaOptions, AvaTradeGO, and others.

Our Insights

AvaTrade is a reliable and well-regulated broker offering a wide array of trading instruments and platforms suitable for both beginner and professional traders. Its strong regulatory framework, high-leverage options, and diverse educational tools make it a great choice.

4. FXTM

Founded in 2011, FXTM is a well-regulated forex broker offering high leverage of up to 1:2000. It operates under the regulation of authorities such as the FSC (Mauritius) and the Capital Markets Authority (Kenya). Furthermore, FXTM provides a variety of account types, including Islamic and managed accounts, and offers over 250 CFDs across forex, commodities, stocks, and indices. The broker features competitive spreads starting from 0.1 pips, and commissions are often zero for standard accounts.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for FXTM?

The minimum deposit is 200 USD.

Is FXTM regulated?

Yes, FXTM is regulated by the FSC in Mauritius and the Capital Markets Authority in Kenya.

Does FXTM offer an Islamic account?

Yes, FXTM offers an Islamic account.

What trading platforms are available at FXTM?

FXTM offers MetaTrader 4, MetaTrader 5, and FXTM Trader.

Our Insights

FXTM is a highly versatile broker that caters to both beginner and professional traders. With its wide range of account types, educational resources, and high-leverage options, it stands out for active traders, scalpers, and those seeking a variety of trading instruments.

5. Vantage

Founded in 2009, Vantage Markets (formerly Vantage FX) is a well-regulated broker offering competitive spreads starting from 0.0 pips and leverage up to 500:1. In addition, the broker is regulated by authorities such as ASIC, FCA, and FSCA. Vantage Markets provides a wide range of trading instruments including over 300 CFDs, and offers multiple account types like Pro ECN, Raw ECN, and Standard STP.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for Vantage Markets?

The minimum deposit is 50 USD.

Are Vantage Markets regulated?

Yes, Vantage Markets is regulated by ASIC, FCA, and FSCA.

Does Vantage Markets offer an Islamic account?

Yes, Vantage Markets offers an Islamic account.

What trading platforms are available at Vantage Markets?

Vantage Markets offers MetaTrader 4, MetaTrader 5, ProTrader, and CopyTrading.

Our Insights

Vantage Markets is a strong broker for both professional and active traders, offering high leverage, tight spreads, and a broad selection of CFDs. Moreover, it provides excellent regulatory security, fast order execution.

6. Pepperstone

Founded in 2010, Pepperstone is an Australian-based broker regulated by ASIC, FCA, and other reputable authorities. It offers a wide range of trading options with spreads from 0.0 pips, leverage up to 1:500, and over 1,200 CFDs, including forex, indices, and commodities. In addition, Pepperstone supports multiple account types, including Islamic accounts, and provides a variety of platforms like MetaTrader 4, MetaTrader 5, cTrader, and TradingView.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit for Pepperstone?

The minimum deposit is AU$10.

Does Pepperstone offer an Islamic account?

Yes, Pepperstone offers an Islamic account.

What is the leverage offered by Pepperstone?

Leverage ranges from 1:200 for retail clients to 1:500 for professional traders, depending on the license.

What trading platforms are available at Pepperstone?

Pepperstone offers MetaTrader 4, MetaTrader 5, cTrader, TradingView, and its proprietary platform.

Our Insights

Pepperstone is a well-regulated and highly secure broker that caters to both beginners and experienced traders. With its low minimum deposit, competitive spreads, high leverage options, and robust trading platforms, it is a top choice for active traders.

Is Forex Trading Legal in the UAE?

Forex trading is legal in the UAE, but it is subject to regulation by local authorities. The UAE Central Bank oversees financial markets, while the Dubai Financial Services Authority (DFSA) and the Abu Dhabi Global Market (ADGM) regulate forex brokers operating in the Dubai International Financial Centre (DIFC) and ADGM.

Furthermore, to trade forex in the UAE, traders must use licensed brokers that comply with local regulations. Additionally, traders are advised to follow the rules around taxation and avoid unregulated platforms.

In Conclusion

Forex trading is legal in the UAE, with strict regulations in place to ensure a safe trading environment. Traders must use licensed brokers authorized by local financial authorities such as the DFSA and ADGM. Moreover, the UAE offers a well-regulated space for forex trading, making it a popular destination for both local and international traders.

You might also like: 

• AvaTrade Review
• Plus500 Review
• FP Markets Review
• FXTM Review
• Pepperstone Review
• Vantage Review