Dubai Financial Market
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 2024.
Dubai Financial Market Exchange Brokers
These are the 10 best brokers for trading on the Dubai Financial Market:
-
1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire TransferUSD -
3
eToro USAInvest $100 and get $10https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
4
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
5
DNA Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD -
6
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
7
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCashUSD -
8
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
9
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
10
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMAStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
Here is a summary of why we recommend these brokers:
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- 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.
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- OANDA US - 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 regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
- DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
- IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
- RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
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 | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Stock Exchanges
FOREX.com offers trading on 14 stock exchanges:
- Australian Securities Exchange (ASX)
- Borsa Italiana
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Nasdaq
- S&P 500
- SIX Swiss Exchange
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- 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.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Stock Exchanges
NinjaTrader offers trading on 2 stock exchanges:
- Chicago Mercantile Exchange
- New York Stock Exchange
Pros
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
Cons
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $10 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Stock Exchanges
eToro USA offers trading on 3 stock exchanges:
- Dow Jones
- New York Stock Exchange
- S&P 500
Pros
- The $10 minimum deposit and straightforward account opening process means beginners can get started quickly
- The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
Cons
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
- Average fees may cut into the profit margins of day traders
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
| Regulator | NFA, CFTC |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Stock Exchanges
OANDA US offers trading on 0 stock exchanges:
Pros
- The broker offers a transparent pricing structure with no hidden charges
- The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
- Day traders can enjoy fast and reliable order execution
Cons
- It's a shame that customer support is not available on weekends
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
DNA Markets
"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
DNA Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Stock Exchanges
DNA Markets offers trading on 14 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Japan Exchange Group
- Nasdaq
- New York Stock Exchange
- Russell 2000
- S&P 500
- SIX Swiss Exchange
- Toronto Stock Exchange
Pros
- DNA Markets offers top-rate platforms and charting tools for day traders with access to MT4 and MT5
- You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
- After a recent upgrade, there are now over 800 assets available to trade via CFDs, with a particularly impressive range of 120+ cryptos
Cons
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Stock Exchanges
IG offers trading on 20 stock exchanges:
- Australian Securities Exchange (ASX)
- 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
Pros
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
Cons
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Regulator | MISA |
| Platforms | Web, MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Stock Exchanges
Pocket Option offers trading on 11 stock exchanges:
- Australian Securities Exchange (ASX)
- 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
Pros
- Extremely fast and smooth sign-up process that takes less than 2 minutes
- Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
Cons
- The MISA is a weak regulator with limited investor protection for retail traders
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Stock Exchanges
IQCent offers trading on 0 stock exchanges:
Pros
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
- There's an accessible $0.01 minimum stake for new day traders with a small budget
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
Cons
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- There's no automated trading support for algo traders
- The broker is not overseen by a respected regulator, though this is common among binary options firms
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | CySEC |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR |
Stock Exchanges
RedMars offers trading on 15 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- London Stock Exchange
- Nasdaq
- National Stock Exchange Of India
- New York Stock Exchange
- S&P 500
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
Pros
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
Cons
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Stock Exchanges
Interactive Brokers offers trading on 15 stock exchanges:
- Borsa Italiana
- CAC 40 Index France
- Chicago Mercantile Exchange
- Euronext
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Metal Exchange
- London Stock Exchange
- Nasdaq
- Nasdaq Nordic & Baltics
- New York Stock Exchange
- Russell 2000
- Shenzhen Stock Exchange
- Toronto Stock Exchange
Pros
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
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 outlook remains uncertain in the wake of 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.
FAQs
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.