Best Forex Trading Platforms In The United Arab Emirates In 2024
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The United Arab Emirates (UAE) has emerged as a significant forex trading hub, experiencing a 9% rise in the number of FX/CFD traders in 2023, alongside 18,500 retail investors placing their first trades. This expansion means the UAE’s chief federal regulator, the Securities and Commodities Authority (SCA), now oversees a growing number of forex trading platforms.
Explore our selection of the best forex brokers in the UAE to find the platforms that excel for their range of currency pairs, charting tools, trading fees, and convenient account funding, including e-wallets like Alipay which is rising in popularity among Emirati residents.
Top 10 Forex Trading Platforms In The United Arab Emirates
Our hands-on tests and exhaustive analysis of hundreds of brokers show these to be the top 10 platforms for forex traders in the UAE:
-
1FXTM30% up to $100 via Exinity Ltd
Ratings
$2000.01 Lots1:2000CySEC, FCA, FSCA, FSC, CNMVForex, CFDs, Indices, Commodities, StocksFXTM App, MT4, MT5Neteller, Skrill, Visa, WebMoney, Perfect Money, Western Union, Credit Card, Google Wallet, PayRedeem, Maestro, GlobePayUSD, EUR, GBP -
2Alpari30% up to $100 (terms apply)
Ratings
$50.01 Lots1:1000FSC, SEBI, JFSAForex, CFDs, Stocks, Commodities, Indices, CryptoMT4, MT5Mastercard, Credit Card, FasaPay, Volet, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, CZK, NGN -
3Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings
$500.01 Lots1:500FCA, ASIC, FSCA, VFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, BondsProTrader, MT4, MT5, TradingView, DupliTradeSkrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPayUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
4IC Markets
Ratings
$2000.01 Lots1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
5AvaTrade20% Welcome Bonus up to $10,000
Ratings
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
6FOREX.com20% Welcome Bonus Up To $5000
Ratings
$1000.01 Lots1:400NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMAForex, CFDs, Stocks, Indices, Commodities, Futures, Options, CryptoMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
7PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Ratings
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
8XM$30 No Deposit Bonus When You Register A Real Account
Ratings
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
9Eightcap
Ratings
$1000.01 Lots1:500ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
10PrimeXBT$100 Deposit Bonus
$00.01 Lots1:1000CFDs, Cryptos, Forex, Indices, Commodities, FuturesOwnBitcoin Payments, Ethereum Payments, Credit Card, Debit CardUSD, EUR, GBP
Here is a short summary of why we think each broker belongs in this top list:
- FXTM - FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for day traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot.
- Alpari - Alpari traders can access 60+ currency pairs and crosses via CFDs on the MT4 and MT5 platforms. The broker offers very competitive pricing, especially on the ECN Pro account which is commission free. Significant leverage up to 1:1000 is available.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
- AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
- XM - XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
- PrimeXBT - PrimeXBT offers 50 forex pairs, which is above the industry average and covers a good range of majors, minors and exotics. Traders can enjoy trading via margin with zero commissions. Additionally, the broker’s copy trading service allows you to explore various currency trading strategies.
Best Forex Trading Platforms In The United Arab Emirates In 2024 Comparison
FXTM
"FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies."
Tobias Robinson, Reviewer
FXTM Quick Facts
Bonus Offer | 30% up to $100 via Exinity Ltd |
---|---|
GBPUSD Spread | 0.2 |
EURUSD Spread | 0.1 |
EURGBP Spread | 0.6 |
Total Assets | 50+ |
Leverage | 1:2000 |
Platforms | FXTM App, MT4, MT5 |
Account Currencies | USD, EUR, GBP |
Pros
- The broker delivers an excellent charting environment for day traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
- FXTM offers free VPS hosting for active day traders looking for 24/7 uninterrupted connection with up to 99.9% uptime
- The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC
Cons
- There are limited e-wallet payment options compared to alternatives
- It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
- Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
Alpari
"Alpari will suit short-term binary options traders with a low $5 deposit, powerful charting terminals, and a rebate scheme. Forex traders also get very high leverage with tight spreads while the broker's PAMM service will appeal to hands-off investors."
Tobias Robinson, Reviewer
Alpari Quick Facts
Bonus Offer | 30% up to $100 (terms apply) |
---|---|
GBPUSD Spread | 0.7 |
EURUSD Spread | 0.4 |
EURGBP Spread | 0.6 |
Total Assets | 50+ |
Leverage | 1:1000 |
Platforms | MT4, MT5 |
Account Currencies | USD, EUR, GBP, CZK, NGN |
Pros
- There's an excellent choice of funding options with no fees
- The broker offers high leverage up to 1:1000 for experienced clients
- Cashback schemes are available for high-volume traders
Cons
- The market analysis and research tools are limited
- The lack of educational resources is disappointing compared to alternatives
- There are fairly high charges for strategy manager copy trading tools
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Jemma Grist, Reviewer
Vantage Quick Facts
Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
---|---|
GBPUSD Spread | 0.5 |
EURUSD Spread | 0.0 |
EURGBP Spread | 0.5 |
Total Assets | 55+ |
Leverage | 1:500 |
Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- It’s quick and easy to open a live account – taking less than 2 minutes
- The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
Christian Harris, Reviewer
IC Markets Quick Facts
GBPUSD Spread | 0.23 |
---|---|
EURUSD Spread | 0.02 |
EURGBP Spread | 0.27 |
Total Assets | 75 |
Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
Cons
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Jemma Grist, Reviewer
AvaTrade Quick Facts
Bonus Offer | 20% Welcome Bonus up to $10,000 |
---|---|
GBPUSD Spread | 1.5 |
EURUSD Spread | 0.9 |
EURGBP Spread | 1.5 |
Total Assets | 50+ |
Leverage | 1:30 (Retail) 1:400 (Pro) |
Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Day traders can access stable spreads and zero commissions with no hidden fees
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
Cons
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
Bonus Offer | 20% Welcome Bonus Up To $5000 |
---|---|
GBPUSD Spread | 1.3 |
EURUSD Spread | 1.2 |
EURGBP Spread | 1.4 |
Total Assets | 80+ |
Leverage | 1:400 |
Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
GBPUSD Spread | 0.4 |
---|---|
EURUSD Spread | 0.1 |
EURGBP Spread | 0.4 |
Total Assets | 100+ |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
Cons
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
William Berg, Reviewer
XM Quick Facts
Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
---|---|
GBPUSD Spread | 1.9 |
EURUSD Spread | 1.6 |
EURGBP Spread | 1.8 |
Total Assets | 55+ |
Leverage | 1:1000 |
Platforms | MT4, MT5 |
Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
- Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
Cons
- PayPal deposits are not supported
- There is weak regulatory oversight through the global entity
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
GBPUSD Spread | 0.1 |
---|---|
EURUSD Spread | 0.0 |
EURGBP Spread | 0.1 |
Total Assets | 50+ |
Leverage | 1:500 |
Platforms | MT4, MT5, TradingView |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
Cons
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
PrimeXBT
"PrimeXBT is good for beginners looking to trade crypto derivatives among traditional assets like forex and indices. There's also a proprietary copy trading solution for novices looking to learn from more experienced investors. With that said, the lack of regulation means traders will receive limited safeguards."
William Berg, Reviewer
PrimeXBT Quick Facts
Bonus Offer | $100 Deposit Bonus |
---|---|
GBPUSD Spread | Variable |
EURUSD Spread | Variable |
EURGBP Spread | Variable |
Total Assets | 45+ |
Leverage | 1:1000 |
Platforms | Own |
Account Currencies | USD, EUR, GBP |
Pros
- There’s a range of additional trading opportunities on offer, including demo contests and a copy trading solution
- Beginners can access a crypto trading Academy with bite-size resources and YouTube videos
- The broker offers 24/7 customer support via live chat, as well as an extensive help centre
Cons
- The lack of reputable regulatory oversight is a security concern, though this is common in the crypto trading industry
- It’s a shame that there are no popular third-party platforms on offer such as MT4
- The total selection of 110+ assets is far fewer than top competitors, including OKX with 400+
How We Rate Forex Trading Platforms In The United Arab Emirates
Trust
Our recommended forex brokers have earned our trust through a balance of their regulatory credentials, our direct experiences on their platforms, and their reputation among our experts, who have over 25 years of industry experience.
This helps protect traders from predatory forex fraudsters that the Emirati law firm Raya al Ameri warns “continue to pose a threat to investors” by luring them in with “aggressive marketing techniques”.
The Dubai Financial Services Authority (DFSA), a prominent regulator in the region, has also issued helpful advice on avoiding forex trading scams, including verifying the broker’s regulatory details on the agency’s website and ensuring emails match the company’s official website.
- AvaTrade is highly trusted with a long history spanning 15+ years – it fosters a transparent forex trading environment with robust safety measures (including SSL encryption to protect data and AvaTrade Protect to insure against losses), plus a long row of licenses, including from the Abu Dhabi Financial Services Regulatory Authority (FSRA).
Account Funding
Support for accessible, affordable payment methods is key, so we looked for platforms that make it easy to deposit using UAE dirhams (AED). Many forex platforms even offer AED accounts, ensuring a smooth trading experience while minimizing conversion fees.
Statista has also noted the rise in digital payments in the UAE, which they forecast to be fully cashless by 2030, so we highly rate brokers that support popular online payment methods in the region like Alipay and Klarna.
- Markets.com caters to forex traders in the UAE with an AED account, swap-free trading conditions, convenient payment options, plus an affordable starting deposit of 100 USD, around 370 AED.
Currency Pairs
Our analysis shows that the majority of online forex platforms do not offer trading on the AED (د.إ), despite it playing a vital role in facilitating economic development in the Middle East, especially in key industries like tourism, financial services, and oil.
That said, the top forex trading platforms offer at least 50 currency pairs, providing opportunities to speculate on the currencies of major countries.
Some brokers also excel with upwards of 80 currency pairs, notably many exotics with high volatility that can offer profit potential for skilled traders.
![Interactive Brokers Trader WorkStation platform with USD/AED chart](https://www.daytrading.com/wp-content/uploads/2024/03/uae-forex-brokers-IBKR-workstation-USDAED.png)
- Interactive Brokers stands out for forex traders in the UAE because it offers trading on 100+ FX pairs spanning 24 currencies, notably the AED, featuring pairs like the USD/AED with deep liquidity and quotes from the world’s 17 biggest forex dealers.
Platforms & Tools
We prioritize brokers that support high-quality trading platforms that deliver an optimal environment for forex traders, sporting intuitive interfaces and useful tools for analyzing foreign exchange markets, such as heatmaps and market sentiment.
After years of testing and reviewing forex brokers in the UAE, we’ve found the established MetaTrader 4 and MetaTrader 5 to be most popular among seasoned traders, which offer customizable interfaces with one-click trading, powerful charting tools with multiple timeframes and support for algorithmic trading.
However nowadays, more modern third-party options like TradingView as well as bespoke in-house platforms have made inroads thanks to slick and eye-catching designs that we’ve found appeal to newer forex traders while still delivering sophisticated tools.
![TradingView USD/AED pair](https://www.daytrading.com/wp-content/uploads/2024/03/uae-forex-brokers-emirates-tradingview-aedusd.png)
- IC Markets remains our top contender for forex trading tools with support for four excellent platforms – MT4, MT5, cTrader and TradingView. It also shines by providing useful extras like VPS hosting for algo traders and Autochartist for technical analysis and market scanning.
Pricing
Choosing a broker with excellent pricing is an important step towards profiting from the forex markets because trading fees can quickly pile up when you’re day trading in the UAE.
For short-term traders, the most significant expense often comes from the spread – the difference between the bid and ask price – so we evaluate a broker’s pricing by rating the spreads of the most popular currency pairs like the EUR/USD, EUR/GBP and GBP/USD.
Commission charges can also factor in, especially if you opt for a raw-spread account, though many top forex platforms offer commission-free trading with affordable spreads on currency pairs.
We also evaluate non-trading fees such as deposit and withdrawal charges, conversion costs when transferring in AED, plus additional fees for tools and data.
- Vantage maintains its place as one of the best-value forex brokers in the Emirates thanks to its ultra-tight spreads from 0 pips and low commissions of $1.50 in its Pro ECN account, alongside the chance to reduce fees through the Vantage Rewards program.
Methodology
To identify the top forex brokers for the United Arab Emirates, we shortlisted platforms accepting Emirate traders and evaluated them based on their comprehensive rating. This rating includes:
- Licensing by trusted regulatory bodies, if not by the SCA, DFSA and FRSA
- Support for convenient payment methods and swap-free accounts for Muslim traders
- Examination of the broker’s market offerings for currency pairs preferred by Emirate investors
- Support for advanced trading platforms and apps suitable for intraday forex trading
- Analysis of pricing on popular currency pairs in relation to service quality
FAQ
Is Forex Trading Legal In The UAE?
Forex trading is legal in the UAE and also on the rise, with an increasing number of retail investors speculating on currencies online.
Forex day traders in the UAE also have the advantage that capital gains aren’t taxed, so traders can keep 100% of any profits.
Who Regulates Forex Trading In The UAE?
The UAE is a federal state that includes several different Emirates with their own authorities. The federal regulators that oversee the financial markets, such as forex trading, include the Securities and Commodities Authority (SCA) and Central Bank of the UAE, while Dubai has its own Financial Services Authority (DFSA) and Abu Dhabi has the Financial Services Regulatory Authority (FSRA).
How Much Money Do I Need To Start Trading Forex In The UAE?
Our years of testing forex brokers accepting traders from the UAE show that platforms are becoming increasingly accessible, with minimum deposits typically ranging from 0 to 250 USD, around 0 to 920 AED.
Having said that, some forex trading platforms excel with no minimum investment, notably Pepperstone, making it an excellent option for budget traders.
Recommended Reading
Article Sources
- Securities and Commodities Authority (SCA)
- Central Bank of the UAE
- Dubai Financial Services Authority (DFSA)
- Financial Services Regulatory Authority (FSRA)
- Abu Dhabi Global Markets
- Statista Report on Digital Payments in the UAE
- Investment Trends Report on Retail FX/CFD Trader Population in the UAE
- Raya al Ameri Warning Against Forex Fraudsters
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com