The global Forex (foreign exchange) market is the most actively traded and largest financial market in the world. What are the main benefits and features that both experienced traders and beginners generally look for when deciding on the option for forex
trading? While there are many factors to choosing a broker, some of the most important ones are:
In this article, we will cover global forex brokers allowing islamic accounts that we consider as thebest forex brokers in UAE and Dubai.
Here is a recap of some of the best forex brokers in the world:
is best for Forex and Binary Options Trading with great UE.
best for Copy Trading with low trading fees and mobile app.
is the best platform for CFD trading with a long standing tradition.
is the Best broker for technical analysis and tools.
offers the most currency pairs and analysis tools.
All of the brokers we took into comparison are considered as safe as they are all regulated by the top tier regulators like the FCA and ASIC and also have a long standing trading tradition.
Considering all of the many factors, we think that the most important ones are trading fees and a user friendly platform. The trading fees should be reasonable and the trading platform should be easy to understand and use.
What all of the compared best forex brokers in UAE also have in common are the free demo trading accounts. If you are just starting out with forex trading we highly recommend you to start trading with a demo account where you cant loose any money as you probably know, forex trading is highly risky and you can loose money in matter of seconds.
All of the best forex brokers in UAE also enableCFD trades. This are high risky and complex contracts and are not suitable for beginners traders you can loose all of your investment in seconds.
Plus 500 is a quality CFDs provider and operates around the world via its subsidiaries: Plus500AU, AFSL417727issued by ASIC, Derivatives issuer licence in New Zealand for NZ clients, FSP No. 486026; Financial Services Provider 47546 in South Africa. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500 CY Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1).
Client Money is held on trust, separated from Business Money. Should Plus500 go into liquidation client money would attract all the legal protections afforded to trust money.
Plus 500 has one of the most user-friendly platforms that allow instant access to variousmarkets, including commodities, indices, shares, andoptions. Every asset is availableto buy or sell as CFDs, with leverage up to 1:300, commission-free.
Many other featuressuch as stop, limit, andtrailing stop are all present on the platform. Customers can also enjoy trading in a free unrestricted demo account that imitates real action. The platform has a lot of news, market information, training tools and comes with solid customer support. Everything is available in the Arabiclanguage, including customersupport.
With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocksbinary options, cryptocurrencies etc.
The trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate. If you sign up you can be sure to interact with an intuitive platform that enables access to a a big amount of resources, and trading options.
The platforms comes with a few drawback as well. The customer support is still being upgraded and at this time it can happen that you will need to wait for more than 24 minutes in order to have your queries processed. If you are just starting out and you will need to interact with a customer support agent on a daily basis, than you need to pay an fee of $3000 in order to secure a consistent communication. USA, Japan and Canada based traders are not allowed to register withIQ options
eTorois an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.
eTorois considered to be a trustworthy platform as it is regulated by an established regulator while being a well-recognized startup as well. Its main operation is based around CFDs. CFDs are complex instruments that include leverage, so they come with a higher risk.
eToro has been awarded as the best social trading platform social trading means you can follow other traders and copy their investment strategies.
Great support in Arabic language: Monday till Friday 24h/day
Copy trading feature copy the best trading secrets
Safe and fast deposit options and withdrawals
Strong regulations and security by FCA (UK)/ ASIC (AUS)/CySEC (EU)
Trade: FX, Stocks, Cryptocurrencies, Commodities, Indices, ETFs
eToro AUS Capital Pty Ltd, ABN 66 612 791 803 AFSL 491139. CFDs are highly leveraged and risky, and may not be suitable for all investors.You may lose more than your initial investment.Trading CFDs does not result in ownership of the underlying assets. You should obtain your own advice and refer to our FSG and PDS before deciding whether to trade with us.
We would recommend this platform to active and mid active traders as they will benefit from slightly lower trading fees and spreads.
There are no major downsides on this platform. What we could lay out as a downside is the fact that the MT5 trader did not rolled out yet.
In a nutshell, as a trustworthy global player, Forex.com offers plenty of trading options for Forex and CFD traders. With all of the major trading platforms, diverse trading tools and research tools FOREX.com is suitable for almost all traders at all experience levels.
OandA has won many awards this year as the best overall pick for forex and CFDs trading. It is a well trusted company regulated by the top tier regulators like FCA and ASIC.
We would recommend this platform to users who are looking for a user friendly trading platform including high end research tools.
+On the positive side OandA offers one of the most user friendly and easy to use platforms including fully digitalised account opening and powerful research tools including the best API in the industry.
On the flip side you can only trade forex and CFDs with a pretty high withdrawal rates. Their support would need some improvement as well..
Forex trading for new investors what you need to know and how to choose your broker.
FXCM is a UK based forex broker which offers some CFDs as well and is regulated by some top tier regulators like FCA and ASIC.
We would recommend this platform to users looking for great technical research tools.
+What we found best on this platform is thefast account opening options,low trading and finance feesand thehigh end technical research tools.
On the downside, FXCM only offers forex, CFDs and some crypto trading options. Their platform needs and update as it is outdated and not user friendly.
No minimum deposit required so feel free to give it a shot inactivity fees charged only after a year.
XTBis primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.
We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.
+What we found best about this platform are the fast deposits and withdrawals and also the hassle free account opening. The platform is easy to use and has a lot of research tools as well.
On the negative side trading assets are limited to forex, CFDs and real stocks in some limited countries. The support is a standard solution, but the employees can be a bit pushy some times.
In a nutshell, XTB is recommendable for clients who want to trade forex and CFDs and are looking for a hassle free account opening, low withdrawal fees and great research tools. Demo account option available.
IG market Ltd. is one of the worlds leading provider of online services and a world leader in the field of CFDs provision (contracts for difference).
They have many accomplishments under their belt. They were the first online trader in 1998 and the first to enable iPhone trading in 2008. IG enables traders to access many different assets, such as FX, indices, various equities and commodities, and ETFs. All in all, they are connected to more than 15,000 worldwide markets.
The company is regulated by one of the most renowned regulatorson the planet Financial Conduct Authority (FCA). They also have a local oversight of their Dubai part of the business in the Dubai Finacial Services Authority.
IG is chosen by many traders because their website is availablein Arabic, and include excessive market information and educational content. They provide quality customer service, that includes a Dubai-based telephone line and Arabic email support.
They also offer some of the most powerful trading tools and many device apps, along with MetaTrader 4.
Pepperstone is based in Melbourne, Australia, and offers competitive trading capabilities through multiple platforms such as mobile devices, MetaTrader 4, and web-based tools. With a broad range of account types, Pepperstone customers have more than 80 tradeable financial instruments across more than 72 asset classes, including forex, commodities, metals, cryptocurrencies, and index CFDs. It also provides comprehensive educational and research resources.
CMC Markets is committed to their professional and institutional clients which can be seen by their careful maintenance of their dedicated sites for each of these client groups. Despite these benefits, CMC Markets falls behind other brokers as it does not offer a free API interface or any rebate for high-volume traders. The most attractive perks that CMC Markets offers, such as free bank wire withdrawals and guaranteed stop losses, are available to all account holders. These are a major benefit to beginning traders and experienced traders alike.
Best For Forex and CFD Trading 4.9 Stars
Best for Binary Options Trading 4.8 Stars
Best for Social, Copy Trading 4.6 Stars
Best Technical Tools 4.5 Stars
Best Forex and CFD Broker 4.8 Stars
Best for CFDs, Most Trusted 4.5 Stars
What are the most important criteria to look for when choosing a broker?
There are lots of criteria to look after when choosing the best forex brokers, but we can simply split them into this three categories:
Almost all of the best forex Brokers in UAE listed above offer a large selection of currency pairs available to trade, almost all have pretty low account minimums and the highest legal leverage ratio of 50:1. They also provide the choice between commission accounts and spread markup accounts. Commission accounts have a fixed commission fee but will in turn offer lower bid-ask spreads.
As mentioned before, figuring out and comparing the costs of forex trading is not always straightforward. Low-volume traders might fare better and cut costs with brokers that offer reasonable spread mark-ups rather than charging commission.OandAconsistently offers lowest bid-ask spreads on the main currency pairs and reports the spreads on the website.
High-volume traders, on the other hand, may have lower costs with brokers that offer tight, competitive spreads and charge a flat commission rate.
ATC Brokersscores high in both categories. They charge a 1 US dollar commission per 10,000 traded and 10 US dollars per 100,000, but their commission is charged round turn, which means a full completed trade (both buying and selling) and not each side separately.
If you like to get technical and use advanced tools to assist your trading,TD AmeritradeorForex.commight be the broker of your choice.
makes quite a few appearances on our list and deservedly so. Besides the advantages making them one of the top overall picks, the broker offers a variety of platforms for the user to choose from. In addition to the popular choices like Ninja Trader, MetaTrader4 and MT4 Mobile, Forex.com also offers its own desktop, web and mobile platforms. Currency charting and analytic tools needed to make an efficient plan are provided with access to TradingView.
has its very own popular platform called thinkorswim that offers a range of different investment products besides currency trading. The platform is on par with professional trading tools, enables you to create your own custom currency pairs and offers advanced technical analytics. The only possible shortcoming of the platform is that new users might find it difficult to navigate the complexities of the advanced environment. The company also offers a trading mobile app called Mobile Trader.
Trading for New Investors What You Need To Know and How to Choose Your Broker?
Foreign exchange market, usually abbreviated asForex, is a decentralised global market for international currency trading. This market sets the exchange value of different currencies and because the trading is always done in pairs, this means the value of a specific currency is not absolute, but relative compared to another specific currency (e.g. 1 US dollar is worth X euros). It is the largest market in the world by volume and it is by no means suitable for easily intimidated traders.
Every investment carries a certain risk, but forex trading exposure is higher than most.
One of the reasons is the fast pace of the game, currency trades happen continually, 24 hours a day, except on weekends. When one market closes, another one opens in a different country, so prices vary constantly.
The other reason which is considered high risk is the fact that forex trading offers high leverage ratios, meaning that you can hold positions much higher than your initial capital. Combine the leverage with the rapid pace and you can easily see the allure of forex trading for the investors significant profits in no time, but beware, your losses can also quickly exceed your initial investment and you might end up in the red.
When choosing your broker there are a number of things to consider like:
These factors differentiate brokers and you should review and compare what they offer to find what best suits your needs. Brokers usually charge their costs in two different ways either they charge a brokerage commission per trade or they pocket the difference between the bid price (the price for selling a currency) and the ask price (the price at which you buy a currency), also known as the spread. Brokers that claim no commissions are charged usually widen the spread and basically earn a commission that way. Taking these two different methods into account means that a direct costs comparison between brokers is not totally straightforward. The fact that there are numerous brokers across different countries, who may or may not be regulated, only makes the choice more complicated. To simplify the decision-making process, we have chosen to only focus on the brokers regulated by theCommodity Futures Trading Commissionand theNational Futures Associationfor the purposes of this list.
So, if you understand the risks and complexities of forex trading and are still willing to give it a go, here are our top forex brokers in UAE.
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The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online brokers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their
platforms are all part of our six-month evaluation of a brokers platform.
The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed.Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
Disclaimer:By trading with securities you are taking a high degree of risk. You can loose all of your investment money. You should start trading only if you are aware of this risk. Business24-7 is not providing any investment advice, we only help you find the best broker based on your needs and preferences.Business24-7 is free for everyone, but earns commission from some of the brokers. We get commission with no additional cost for you.
1. Plus 500 (Recommended for experienced traders looking for an easy-to-use platform, with great user experience)
2. IQ Option (Best Binary Options Trading Company)
5. OandA (Most user friendly trading platform + best API)
8. IG Trading (Recommended for traders aiming for a great and easy-to-use trading platform)
9. Pepperstone (best for Australian citizens)
Top forex trading tools and platforms: TD Ameritrade / m
Stefan Grasic(Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.
Disclaimer: Business24-7 is your go to source when it comes to forex brokers reviews, insights and latest trading news. Our mission is it to compare the best brokers based on several factors, to make your decision less complicated. The results are objective and unbiased reviews showing real user experiences on the most trusted trading platforms. Business24-7 is free for everyone, but earns commission from some of the brokers. We get commission with no additional cost for you. By trading with securities you are taking a high degree of risk. You can loose all of your investment money. You should start trading only if you are aware of this risk. Business24-7 is not providing any investment advice, we only help you find the best broker based on your needs and preferences.