Regulated forex brokers in the United Arab Emirates
Forex traders from United Arab Emirates account for a sizable proportion of the whole Middle East forex community. It can be uneasy to know which forex brokers to put your money with. We have compiled a list of the finest regulated fxbrokers for UAE forex traders to use based on our research. Our study is based on various crucial variables, including the firm’s assets offerings, trading platform quality, customer service, local UAE money depositing methods, Islamic accounts etc.
List of regulated forex brokers in UAE:
Now without further ado, let’s jump into the list of regulated forex broker in UAE:
- XTB
As a reputable multi-asset DFSA Dubai regulated broker, XTB provides exceptional customer service, a diverse range of FX and CFDs, and an overall positive trading experience. Its xStation five trading platform is well-designed and packed with innovative features, and XTB’s extensive instructional content and research contributed to the broker’s Best in Class for Research in 2022.
Pros:
- XTB, founded in 2002, is publicly traded and regulated in one tier-1 country, making it a low-risk (safe) broker.
- The station platform suite from XTB offers exceptional usability and a complete set of trading tools and features.
- XTB has a fantastic selection of detailed educational videos and written content, as well as over 200 lessons through its Trading Academy.
Cons:
- XTB does not give daily video updates in English, save from its weekly webinars (but does so in other languages).
- MetaTrader 4 (MT4) is no longer advertised at XTB’s branches in the United Kingdom, Poland, and Cyprus, while it can be requested manually from select global XTB offices.
- The custom investment basket function has been removed from the xStation five platforms for the time being.
- In the EU, cash equities are exclusively available through XTB’s Polish office.
- eToro
Israeli fintech company eToro was founded in 2007 and offered social trading. eToro provides UK clients through a unit regulated by the Financial Conduct Authority (FCA) and UAE Dubai and whole Asia plus Australian clients through an entity regulated by the Australian Securities and Investment Commission (ASIC). Customer service for all other customers is provided by the Cyprus Securities and Exchange Commission (CySEC), a government agency in Cyprus. The company does not have a stock exchange listing, publishes its annual report on its website, and have a bank parent. Due to its top-quality FCA and ASIC regulation, eToro is a good choice for its security.
Pros:
- Popular coins that aren’t available on other major exchanges
- Users can mimic the trading of other investors.
- An app that is simple to use
- The fee structure is simple.
- Offer a Demo Account
Cons:
- Some digital currencies have exorbitant fees.
- Only in 43 states is it available.
- A scarcity of stocks as well as other investment opportunities
- Pepperstone
Forex broker Pepperstone offers CFDs as well as forex in Australia. The company was founded in 2010, and in 2015 it opened a London office to serve its European clientele better. Pepperstone is regarded safe since three top-tier financial authorities regulate it: the UK’s Financial Conduct Authority (FCA), the BaFin of Germany, and the Australian Securities and Investments Commission (ASIC) + DFSA Dubai of course.
Pros:
- Account opening is quick and entirely digital.
- Deposit and withdrawal are simple and free.
- Excellent client service
Cons:
- The MetaTrader platform is typically used for trading CFDs.
Conclusion
It is advised that Emirates traders only deal with brokers regulated within the UAE by the CBUAE Central Bank of UAE or ADGM or SCA in Abu Dhabi, Dubai DFSA or . As these brokers are subject to very strict guidelines, Dubai traders will enjoy the same degree of protection as they would with a tier 1 regulated FCA or ASIC-regulated broker. This includes broker security standards, separate customer accounts from broker accounts, and a remuneration structure for the trader. This means that if the broker becomes insolvent, the trader’s deposits will be safeguarded!
