Dubai Financial Market (DFM) brokers offer access to one of the three stock exchanges in the UAE alongside the Abu Dhabi Securities Exchange and Nasdaq Dubai. The first two are mostly made up of UAE companies, while the latter was created for trading international stocks. This investing tutorial explains listing requirements and rules, the top brokers with access to the Dubai Financial Market, trading tips and more. Find out how to compare the best DFM brokers in 2023.
Dubai Financial Market Exchange Brokers
These are the 10 best brokers for trading on the Dubai Financial Market:
#1 - Forex.com
Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
Forex.com is excellent for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score.
- DayTrading Review Team
- Instruments: Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options
- Regulator: CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO
- Platforms: MT4, MT5, TradingView
- Min. Deposit: $100
- Min. Trade: $1
- Leverage: 1:200
Stock Exchanges
Forex.com offers trading on 13 stock exchanges:
- Australian Securities Exchange
- Borsa Italiana
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- IBEX 35
- Japan Exchange Group
- Nasdaq
- S&P 500
- SIX Swiss Exchange
CFD Trading
Go long and short on a range of popular financial markets with intuitive platforms and reliable execution. 99.76% of trades are executed in less than a second with an average speed of 0.02 seconds.
Forex Trading
Forex.com is a leading FX broker. The brand offers a huge range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.2 with a $5 commission per $100k.
Stocks Trading
Forex.com offers access to thousands of US, EU and UK stocks, with spreads of just 1 point. Speculate on household names as well as new IPOs. US stocks are available from just 1.8 cents per share.
Crypto Trading
Trade major cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet is required, just a trading account. Cryptos are not available in the US, UK or Canada.
Pros
- VPS hosting for automated strategies
- TradingView integration
- Multiple account currencies including USD, EUR and GBP
Cons
- Tools and platform access varies between countries
- No copy trading tool
- $15 inactivity fee
#2 - eToro USA Securities
eToro is a social investing platform that offers stocks, ETFs, options, and crypto. eToro securities trading is offered by eToro USA Securities, Inc.
- Instruments: Stocks, Options, Cryptos, ETFs
- Regulator: SEC, FINRA
- Platforms: Own
- Min. Deposit: $10
- Min. Trade: $10
- Leverage:
Stock Exchanges
eToro USA Securities offers trading on 3 stock exchanges:
- Dow Jones
- New York Stock Exchange
- S&P 500
Stocks Trading
Trade US stocks from the country's largest exchanges.
Crypto Trading
eToro US leads the way in cryptocurrency trading. 1% fee for buying or selling crypto added to the spread (from 0.75% for BTC), with their own wallet service and the largest number of cryptos to trade in the market. eToro copy trading is only for cryptos. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
Pros
- Strong regulatory oversight
- Copy trading
- Low minimum deposit
Cons
- No MT4 integration
#3 - NinjaTrader
NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
We recommend NinjaTrader for high-volume futures traders looking for low fees and premium analysis tools.
- DayTrading Review Team
- Instruments: Forex, Stocks, Crypto, Futures, Options, Commodities
- Regulator: NFA, CFTC
- Platforms: Own
- Min. Deposit: $50
- Min. Trade: Varies by asset
- Leverage:
Stock Exchanges
NinjaTrader offers trading on 2 stock exchanges:
- Chicago Mercantile Exchange
- New York Stock Exchange
Forex Trading
NinjaTrader supports the trading of popular currencies including the EUR/USD. The trading software also offers unique features tailored to forex trading, including specific order and market windows.
Stocks Trading
Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. You can then take positions on large public companies and household names via advanced trading software.
Crypto Trading
Trade micro Bitcoin futures with low fees and leading charting tools. Get exposure to Bitcoin through CME Group's centralized exchange with robust risk management tools.
Pros
- Low fees with $50 day trading margins & commissions from $.09 per micro contract
- Free platform access and trade simulation capabilities
- Easy account opening that takes a few minutes
Cons
- Withdrawal fee on some funding methods
- Premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
#4 - OANDA
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
We recommend OANDA for traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick for US traders with authorization from local regulators and a secure trading environment.
- DayTrading Review Team
- Instruments: Forex
- Regulator: CFTC, NFA
- Platforms: MT4, TradingView
- Min. Deposit: $0
- Min. Trade: $0
- Leverage: 1:30 EU, 1:200 Global
Stock Exchanges
OANDA offers trading on 10 stock exchanges:
- Australian Securities Exchange
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- London Stock Exchange
- Nasdaq
- Russell 2000
Forex Trading
OANDA offers over 70 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
Stocks Trading
Over 1600 shares are available from leading stock exchanges. There are also no commissions on US stocks and traders benefit from free expert insights and market reports.
Crypto Trading
Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Users can also trade digital currencies in a few taps through the iOS and Android mobile app.
Pros
- US clients accepted
- API facilitates access to 25 years of historical data and rates from 200+ currencies
- Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles
Cons
- Stock trading not available in all countries
- Customer support not available on the weekend
#5 - Webull
Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
Webull is best for traders looking to buy and sell stocks on a user-friendly app with zero commissions.
- DayTrading Review Team
- Instruments: Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
- Regulator: SEC, FINRA
- Platforms: Own
- Min. Deposit: $0
- Min. Trade: $5
- Leverage:
Stock Exchanges
Webull offers trading on 2 stock exchanges:
- Dow Jones
- Nasdaq
Forex Trading
Webull offers a modest collection of 17 currencies, including majors like EUR/USD. Forex can be traded on the feature-rich investing app with real-time quotes and low spreads.
Stocks Trading
Webull offers a fantastic list of 2000+ US stocks, fractional shares, options, ETFs, OTC, and ADRs. There is no commission on stocks, ETFs, and options. Full extended trading hours is available while custom screeners and watchlists aid the decision making process.
Crypto Trading
Webull offers trading on popular cryptos like Bitcoin against the US Dollar. With 35+ tokens and premium analysis tools, traders can review market trends and identify opportunities in a few taps.
Pros
- Respected brand with strong regulatory oversight
- No commission or inactivity fees
- Promotions with free stocks
Cons
- Day trading is limited for customers with less than $25,000 deposited
- Sometimes sudden changes in trading conditions
- High deposit and withdrawal wire fees for non-US residents
#6 - IG Group
IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
IG offers a superb all-round package. Beginners will appreciate the user-friendly web platform and secure trading environment while established investors will rate the 18,000+ markets and top-tier market research.
- DayTrading Review Team
- Instruments: Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting
- Regulator: FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
- Platforms: MT4
- Min. Deposit: £250
- Min. Trade: 0.1 lots
- Leverage: 1:30
Stock Exchanges
IG Group offers trading on 20 stock exchanges:
- Australian Securities Exchange
- Bombay Stock Exchange
- Borsa Italiana
- Deutsche Boerse
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Stock Exchange
- National Stock Exchange Of India
- Russell 2000
- S&P 500
- SIX Swiss Exchange
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
- Tadawul
- Taiwan Stock Exchange
- Toronto Stock Exchange
CFD Trading
IG offers an impressive suite of 18,000+ CFD instruments. Negative balance protection ensures accounts cannot drop below zero while custom price alerts and the IG Academy enhance the trading experience.
Forex Trading
IG offers currency trading on its award-winning web platform and mobile app. Comprehensive charts and forex analysis tools are also available through ProRealTime.
Stocks Trading
IG offers 13,000+ shares, with more listed firms than most competitors. Fees are low with no commission on US stocks. Extended hours trading is also available alongside ultra-fast execution speeds of 0.014 seconds.
Crypto Trading
11 popular cryptos are available, plus two crypto crosses. A crypto index is also offered, following the value of the top 10 digital currencies by market cap. All cryptos are available via CFDs.
Pros
- 24/5 customer support is available
- Over 18,000 assets are available spanning stocks, forex, commodities, baskets, futures, options and more
- IG offers great educational materials including an extensive library of training and support on how to day trade successfully
Cons
- No copy trading platform
- Inactivity charge
#7 - Pocket Option
Pocket Option is a global binary options broker with a sleek proprietary trading platform and competitive range of assets.
- Instruments: Binary Options, Currencies, Commodities, Stocks, Indices
- Regulator: IFMRRC
- Platforms: MT5
- Min. Deposit: $50
- Min. Trade: $1
- Leverage:
Stock Exchanges
Pocket Option offers trading on 11 stock exchanges:
- Australian Securities Exchange
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- IBEX 35
- Japan Exchange Group
- Nasdaq
- New York Stock Exchange
- S&P 500
Forex Trading
Binary and OTC options can be purchased on over 30 foreign exchange pairs.
Stocks Trading
Trade major company stocks and take positions on popular indices.
Crypto Trading
Pocket Option supports popular cryptocurrencies on a beginner-friendly app.
Pros
- Low minimum deposit
- Demo account
- Multiple payment methods
Cons
- No MT4 integration
- Weak regulatory oversight
#8 - IQCent
IQCent is an offshore binary options and CFD broker with 10+ payment methods and a $50 minimum deposit. Clients benefit from copy trading tools and in-depth market analysis.
- Instruments: CFDs, Binary Options, Forex, Stocks, Indices, Commodities, Cryptocurrencies
- Regulator: IFMRRC
- Platforms: TradingView
- Min. Deposit: $50
- Min. Trade: $0.01
- Leverage: 1:500
Stock Exchanges
IQCent offers trading on 5 stock exchanges:
- DAX GER 40 Index
- Dow Jones
- FTSE UK Index
- Nasdaq
- S&P 500
CFD Trading
Trade leveraged CFDs on popular markets including stocks and commodities.
Forex Trading
IQCent offers major, minor and exotic currency pairs with tight spreads.
Stocks Trading
IQCent offers trading on four German stocks alongside several established indices.
Crypto Trading
Trade popular crypto tokens via leveraged CFDs.
#9 - Moomoo
Moomoo is an app-based stock broker that offers trading in US, Hong Kong and Chinese shares. Clients can get started with a sign-up bonus and $0 minimum deposit.
- Instruments: Stocks, Options, ETFs, ADRs, OTCs
- Regulator: SEC, FINRA, MAS
- Platforms: Own
- Min. Deposit: $0
- Min. Trade: No minimum
- Leverage:
Stock Exchanges
Moomoo offers trading on 4 stock exchanges:
- Chicago Mercantile Exchange
- Hong Kong Stock Exchange
- Nasdaq
- New York Stock Exchange
Stocks Trading
Moomoo offers online US and Hong Kong stocks, and China-A shares trading across options, ETFs, ADRs, OTC, US, plus IPOs on a proprietary trading platform.
Pros
- Low minimum deposit
- Strong regulation
Cons
- Few payment methods offered
- No MT4 integration
- No copy trading
#10 - Nadex
The leading US trading Exchange. Nadex offer genuine exchange trading to global clients on Binary Options. Fully regulated by the CFTC.
- Instruments: Binary Options, Knock Outs™, Call Spreads
- Regulator: CFTC
- Platforms: Own
- Min. Deposit: $250
- Min. Trade: $1
- Leverage:
Stock Exchanges
Nadex offers trading on 7 stock exchanges:
- DAX GER 40 Index
- Dow Jones
- FTSE UK Index
- Japan Exchange Group
- Nasdaq
- S&P 500
- Shenzhen Stock Exchange
Forex Trading
Speculate on the price movement of 11 currency pairs with binary options contracts.
Stocks Trading
Speculate on 8 global indices via binary options contracts.
Pros
- Free demo account
- Proprietary mobile app
- Extensive educational resources
Cons
- No welcome bonuses or financial incentives
- No MT4 or MT5 platform integration
How To Choose Dubai Financial Market Brokers
The key factors to consider when comparing brokers that support trading on the Dubai Financial Market include:
Regulation
Dubai Financial Market brokers must hold relevant licensing to offer DFM securities to retail investors. All Dubai Financial Market brokers registered within the United Arab Emirates must comply with the guidance of the Securities Commodities Authority (SCA) and the Central Bank of UAE.
You should research whether your chosen brokerage is licensed to operate with a top-tier authority and verify this by visiting the website of the financial watchdog.
Tools
Look out for Dubai Financial Market brokers that provide access to educational content, intuitive trading platforms, mobile apps and additional features such as copy trading.
Integrated economic calendars and live news streams are also ideal for staying in the loop with UAE company publications and local economy health, which may influence your decisions when it comes to investing in the Dubai Financial Market index.
Customer Support
The best Dubai Financial Market brokers will provide reliable and responsive customer support options. This may include via email, live chat or toll-free telephone number available within the market’s operating hours.
Language flexibility should be a key consideration, especially if you are not of Arabic nationality. Tailored contact options should be available regardless of your country of residency.
Payment Methods
Look out for Dubai Financial Market brokers that offer local deposit and withdrawal solutions as well as internationally recognized payment methods. Global credit cards may be the most suitable so you can fund a trading account and begin investing right away.
Remember, the majority of Dubai Financial Market brokers may only offer account denominations in the UAE Dirham, so take currency exchange fees into consideration if this is not your local money.
Commission-free payment solutions should be top of your list, with third-party charges covered by the broker particularly advantageous. Fast withdrawal times are also important to look out for. Don’t be kept waiting to withdraw your hard-earned profits from DFM brokers.
Dubai Financial Market Background
The Government of Dubai owns 79.63% of the Dubai Financial Market through Borse Dubai Limited. The DFM conducts business in full compliance with the Islamic Sharia laws and is regulated by the Securities and Commodities Authority. In terms of capitalization, which is the total value of all of the shares of all of the securities traded on the Dubai Financial Market, the exchange comes in at around $119 billion USD.
Importantly, the DFM is a major stock market in the region, attracting local and global investors. Traders can speculate on leading real-estate companies, financial services providers, plus telecommunications via registered Dubai Financial Markets brokers.
A Brief History
The Dubai Financial Market Company (DFM PJSC) was founded on the 26th of March 2000. It was created as a public institution with an independent legal entity via the Government of Dubai and operated this way for six years.
Up until November 2006, the Dubai Financial Market was fully owned by the Government of Dubai, but at this point, it turned into a public shareholding company through an IPO and was divided into 8 billion shares. This led to 20% of shares (equating to 1.6 billion shares) going to the public and 80% being subscribed by Borse Dubai which the Dubai government owns. The public offering received unprecedented demand with subscriptions coming to AED 201 billion, meaning that DFM’s IPO was oversubscribed by 118 times.
In 2007, the Dubai Financial Market became the first regional exchange to be publicly listed, and in 2010, the Dubai Financial Market consolidated operations with Nasdaq Dubai. This means that investors can now access listed securities via online brokers for both DFM and Nasdaq with just one Investor Number.
In 2013, the United Arab Emirates was upgraded to Emerging Market Status by MSCI and some stocks were included in the MSCI Emerging Markets Index in May 2014.
In 2015, the Dubai Financial Market redesigned and launched an application called DFM Market Watch, allowing traders to check investments and markets more seamlessly.
Today, the number of listings comes to 66 companies, around three-quarters of which are in the financial (60.7%) and real estate (17.1%) sectors, with other firms in telecommunications, transportation, and industrials, among others. Most of these companies are operating within the UAE, but the market is receiving more interest from outside investors and foreign ownership is on the rise since 2019. The majority of foreign companies listed on the Dubai Financial Market are from the MENA region, including countries such as Bahrain, Sudan, Kuwait and Oman. The top DFM brokers offer access to all companies listed.
There has not been an IPO listed on the DFM since the year 2017, but the DFM is continuously trying to bring in local companies and encouraging them to list there rather than abroad. Efforts include letting companies in Dubai’s free zones list and letting family companies list.
How Does The Dubai Financial Market Work?
The Dubai Financial Market was established with the goal of offering securities trading services. With Dubai being a financial hub, the DFM has seen much success since it was established. The stock exchange is currently open to investors of any nationality based in any country via online DFM brokers. In addition, any individual or institution can apply for an Investor Number (NIN) with the Dubai CSD.
The DFM takes several measures to prevent unfair treatment of investors by regulating trading activity on securities. Therefore, the prices of the securities on DFM are determined by supply and demand, rather than by an individual entity. Stakeholders are given all relevant statistics and facts about securities in the form of reports. This is to ensure that investors have all of the information that is necessary to make informed decisions.
Listing Requirements
In order for the shares of a company to be traded on the DFM, there are specific listing requirements and rules that must be met. Firms must provide a description of their operations and company history. Importantly, the performance of the company must be strong if they are to attract investors looking to buy shares through brokers that support trading on the Dubai Financial Market. If the performance of the company is deemed to be good enough, then a certain number of shares will be made public.
Listed companies on the Dubai Financial Market will also be required to maintain either their market value or share turnover higher than a level determined by DFM. The company is at risk of being delisted if this requirement is not met.
The Dubai Financial Market General Index
The DFM General Index is a tool that traders can use to see how the market is performing. This means that investors do not have to look through all 66 stock charts for every company listed. This index tracks the general market performance for the entirety of the DFM. Several top DFM brokers offer insights and access to the index.
In terms of performance in recent years, the DFM General Index had its worst year in more than a decade in 2018 with a loss of nearly 25%. This rose again the following year by around 10%. The current outlook remains uncertain in the wake of Covid-19 and the Russia-Ukraine war.
Growth
Despite the above, the DFM has one of the most steady growth rates in the world. During the 2008 financial crisis, most companies were experiencing decreases in performance and growth, and for many companies, this has remained the same ever since. And unsurprisingly, when companies are performing poorly, this tends to have a negative effect on the financial market of the country they are listed in.
However, this hasn’t applied to the Dubai Financial Market, which has seen the number of traded shares routinely increase since it was conceived in 2000. Since its launch, the exchange has moved from having only 11 companies listed to the 66 that it has now.
How To Invest In The Dubai Financial Market
Investing in the DFM is straightforward. The stock exchange makes specific efforts to ensure the process is efficient for all investors, including through the development of a Dubai Financial Market app, which allows traders to monitor their investments. To get started, individuals need to open a trading account with registered Dubai Financial Market brokers. They also need to obtain a Dubai Financial Market Investor Number.
As is the case with any kind of stock trading, it is wise to look into the company and sector that you are investing in and be aware of the level of risk that you are willing to take prior to taking a position. See our stock trading guide for strategy tips.
Final Word On DFM Brokers
Since its conception, the Dubai Financial Market has been one of the best-performing exchanges in the United Arab Emirates. It has seen fairly steady growth since it was established and was able to maintain relative success even during the global financial crisis of 2008. See our list of top brokers with access to the Dubai Financial Market to start investing today.
FAQ
What Timezone Do Dubai Financial Market Brokers Operate?
The Dubai Financial Market uses the Asia/Dubai timezone, also known as Gulf Standard Time. Currently, this timezone is GMT+04:00 and uses the abbreviation +04. This timezone does not follow Daylight Saving Time.
What Currency Is Used When Trading With Brokers Offering The Dubai Financial Market Index?
The Dubai Financial Market trades in Emirati Dirhams, using the currency code AED. The symbol for this currency is د.إ. You may need to exchange your local currency to AED when trading with Dubai Financial Market brokers.
What Are The Dubai Financial Market Trading Hours At Online Brokers?
The Dubai Financial Market is open Monday – Friday from 10:00 until 14:45 Gulf Standard Time (GMT+04:00). The best DFM brokers offer uninterrupted market access during this period.
Who Owns The Dubai Financial Market?
Until 2006, the DFM was fully owned by the Government of Dubai, but after this, it was turned into a public joint-stock company through an IPO. From this point onwards, 20% of the shares were sold to the public and 80% were subscribed by Borse Dubai, which is owned by the Government of Dubai.
Where Is The DFM located?
As the name suggests, the Dubai Financial Market location is Dubai, United Arab Emirates. Global investors can still speculate on listed stocks if they meet eligibility requirements. Note, leading DFM brokers may be based elsewhere in other major investing hubs.
Are DFM Brokers Regulated?
The best DFM brokers and platforms are regulated by the Central Bank of UAE or trusted international agencies, such as the UK Financial Conduct Authority. The DFM is also regulated by the Securities and Commodities Authority (SCA). This helps ensure that investors receive a degree of security and have channels to raise issues.