A growing number of international Forex brokers have opened subsidiaries in Dubai, the financial center of the Middle East and the fastest-growing Forex market there excepting only Saudi Arabia.
We have extensively reviewed both Forex brokers with a local presence and those catering to residents of the U.A.E. to help you decide which brokers are worth considering for opening a Forex account from Dubai, or from outside Dubai where you are looking for an offshore broker in Dubai. We present our results below.
Top Forex Trading in Dubai
- Capital.com, Best choice of cryptocurrencies.
- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- CFI, Well-regulated long-established low spread broker.
- MultiBank Group, Deep liquidity with no trading restrictions.
- eToro, Best broker for social traders and crypto traders : 51% of retail CFD accounts lose money.
- Axi, Spreads starting from 0.0 pips + leverage up to 1:500.
Best Dubai Brokers Comparison
| | | | | |
Regulators | ASIC, CySEC, FCA, SCB | ASIC, CySEC, FCA, SCB | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | CMA, CySEC, FCA, FSA, FSC Mauritius, FSCA, VFSC | ASIC, AUSTRAC, BaFin, BVIFSC, CIMA, CySEC, ESCA, FMA, MAS, TFG, VFSC |
Year Established | 2016 | 2009 | 2006 | 2005 | 2005 |
Execution Type(s) | Market Maker | ECN/STP, Market Maker | Market Maker | ECN/STP, Market Maker | ECN/STP |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 0.6 pips | 1.0 pips | 0.9 pips | 0.4 pips ($4.00) | 0.1 pips |
Average Trading Cost GBP/USD | 1.3 pips | 1.2 pips | 1.5 pips | 0.4 pips ($4.00) | 0.5 pips |
Average Trading Cost Gold | $0.30 | $0.12 | $0.29 | $0.12 | $0.02 |
Trading Platform(s) | Other, MetaTrader 4, Proprietary platform, Web-based, Trading View+ | MetaTrader 4, MetaTrader 5, Trading View | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform |
Islamic Account | |||||
Negative Balance Protection | N/A | N/A | |||
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
Capital.com
In Summary Best choice of cryptocurrenciesI rank Capital.com among the best Forex brokers in the UAE for its competitive trading fees. Commission-free spreads start from 0.6 pips or $6.00 per 1.0 standard round lot. Swap-free Islamic accounts are also available upon request. The cutting-edge Capital.com infrastructure delivers average order execution speeds of 0.03 seconds and handles annual trading volumes exceeding $3 trillion. The MT4/MT5 trading platforms are ideal for algorithmic traders, and support upgrades via 25,000+ and 10,000+ custom indicators, scripts, and EAs. Capital.com also enables API trading. Beginners can start their education with online content at Capital.com before moving to the Investmate educational app for an interactive experience.
The well-balanced asset selection of 5,000+ trading instruments includes 140+ currency pairs and 540+ cryptocurrency CFDs. Capital.com connects social traders with 100M+ peers on TradingView, where scripts can automate strategies. The proprietary, web-based alternative features advanced charts from TradingView and market insights from Newsquawk.
Pros & Cons
- Excellent Forex and cryptocurrency CFDs selection
- A competitive commission-free pricing environment
- Award-winning proprietary trading platform alongside MT4
- High-quality educational section built around Investmate
- Limited deposit and withdrawal methods for many international clients
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsBased in Australia, EightCap is a leading forex and CFD broker with over ten years of experience in the industry. Also sometimes referred to as 8Cap, this broker was established in 2009, and is considered reliable and trustworthy, based on several factors including regulatory licensing. EightCap is licensed through several top regulators including the much-respected Australian Securities and Investments Commission (ASIC), with additional licensing via the Vanuatu Financial Services Commission. EightCap offers one of the lowest forex fees out of all Australian forex brokers. This is especially true for clients that open a Raw account. For example, USD/EUR account fees are low with a $3.5 commission: with an average spread during peak trading hours of 0.1 pips.
EightCap Pros & Cons
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade belongs among the best Forex brokers in the UAE due to its choice of trading platforms. Ava Options, Ava Social, WebTrader, and AvaTradeGO are available alongside MT4/MT5. WebTrader and AvaTradeGO have embedded Trading Central services, providing traders an edge. The Guardian Angel plugin upgrades MT4/MT5, while the fee-based Ava Protect insurance policy protects against losing trades.
Traders get a reasonably priced commission-free cost structure, and the well-balanced asset selection includes options, cryptocurrencies, and ETFs. AvaTrade offers VPS hosting for 24/5 low-latency trading. It serves the UAE from its Abu Dhabi Global Markets Financial Services Regulatory Authority licensed subsidiary.
Pros & Cons
- High quality educational offering via AvaAcademy
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Well-regulated and trusted broker with oversight from a central bank
- Trading costs competitive but nothing special
CFI
In Summary Well-regulated long-established low spread brokerCFI provides advanced trading infrastructure, including the in-house AI trading assistant Kaiana, powered by OpenAI, and Trading Transparency+, which help traders improve their market approach. Traders get MT5 with integrated Trading Central services. It also connects social traders to TradingView, where 50M+ peers interact, and traders can use its CFI Multi-Asset platform, available as a web-based platform and mobile app.
CFI handles $1T+ in quarterly trading volume, maintains a well-balanced asset selection of 15,000+ trading instruments, and features commission-free spreads from 0.4 pips. Therefore, I rank CFI among the best Forex brokers in the UAE.
Pros & Cons
- In-house AI trading assistant Kaiana, powered by OpenAI
- Quality trading tools, including TipRanks and Trading Central
- Excellent asset selection of 15,000+ trading instruments
- MT5, TradingView, and a proprietary trading platform
- Demo account valid for 30 days
MultiBank Group
In Summary Deep liquidity with no trading restrictionsI rate MultiBank among the best Forex brokers in the UAE, as it has a localized presence and services in Arabic with 24/7 customer support. Traders can use MT4/MT5, with algorithmic and copy trading support, while manual traders may opt for the two proprietary alternatives. A swap-free Islamic account is available, and for a $1,000 deposit, UAE-resident traders get reasonable trading fees, which decrease to ultra-competitive for a $10,000 deposit.
MultiBank educates beginners via twelve well-structured multi-lesson courses and eleven e-books. MAM/PAMM accounts support traditional account management, VPS hosting allows 24/5 low-latency trading and a cashback program is available.
Pros & Cons
- 20,000 assets offering broad coverage of financial markets
- Raw spreads from 0 pips and maximum leverage of 1:1000
- Regulated by 17+ financial authorities, including multiple Tier 1 bodies
- ECN trading with deep liquidity and no requotes
- Access to raw spreads requires a $10,000 minimum deposit on the ECN account
eToro
In Summary Best broker for social traders and crypto traders : 51% of retail CFD accounts lose moneyeToro was founded in the early days of the online retail Forex era, in 2007 – this broker occupies a unique space as the king of social and copy trading. eToro has a long track record and unique reputation to protect, although this image is more focused on its copy trading model than on any other individual feature, except maybe its special relationship with cryptocurrencies. eToro is regulated in Cyprus, the U.K., Australia, and the United States although its U.S. offering is firmly differentiated from its offering to the rest of the world. eToro is a leading cryptocurrencies CFD broker. Following its 2019 acquisition of Danish blockchain company Firmo and Belgian crypto portfolio tracker application Delta, it released its cryptocurrency wallet for mobile devices.CFD crypto is not available for users in the US and under FCA regulation.
Pros & Cons
- Active investment community ideal for social trading
- Dedicated tools for social trading
- Broad cryptocurrency selection
- Expanding educational offering for beginner traders
- Internal withdrawal fees
Axi
In Summary Spreads starting from 0.0 pips + leverage up to 1:500Pros & Cons
- No minimum deposit and high leverage for most international traders
- Autochartist plugin for MT4 and API trading for algorithmic traders
- Funded Allocation account : Axi Select
- Excellent trading costs and social trading plus educational resources in 24 languages
- Limited asset selection
One of the first choices anyone located in Dubai must make when looking for a new broker is whether to go for one which is located and regulated in Dubai or not. Forex brokers regulated in Dubai operate under the oversight of the Dubai Financial Services Authority (DFSA). While the DFSA has a reputation as a light regulator, it ensures a highly competitive as well as relatively secure trading environment for Forex trading in Dubai. It also serves as one of the best jurisdictions for Forex brokers to use as a gateway to the MEASA region, which represents one of the fastest-growing sectors for financial services. Therefore, when you see a Forex broker setting up in Dubai, you usually see one that wants to expand, and as such may be focusing on making a very competitive offering to clients.
Choosing a Forex Broker in Dubai
If you are going to choose a Forex broker physically located in Dubai, we think that an international Forex broker with a regulated subsidiary in Dubai will be likely to be the best choice. This can ensure a track record in other jurisdictions, as many local Dubai Forex brokers have not been in business for a very long time. The longer a broker has successfully conducted business, the better run it is likely to be. Longevity is a reliable heuristic here.
The best Dubai Forex brokers will also maintain deposit and withdrawal options via local payment processors or banks and Arabic language customer support.
Now you’ve got through important safety issues, you can consider what the broker has to offer. Is the cost of trading there competitive or not? Check spreads, commissions, and other incidental fees. Traders who are planning to keep trades open over the New York rollover at the end of the trading day there should also consider the overnight swaps typically offered. Unfortunately, some brokers abuse this typically “hidden” fee.
Finally, examine the “nice to have” elements, such as the range of tradable instruments, quality of customer support, and trading platforms. Going through the process in this order should ensure you end up opening an account with the best Dubai Forex broker for you.
Is Forex Legal in Dubai?
Forex trading is completely legal in Dubai, in fact its hard to think of a place where it is more legal, as Dubai has been a low tax, offshore, trade-friendly financial center for many years. The U.A.E. does not levy income tax on individuals, so if retail traders are able to generate a profit from Forex and CFD trading, they can keep it all. What may be illegal is taking deposits from other retail traders and trading on their behalf without having an appropriate regulatory license to do so.
UAE Forex Regulation
Forex Brokers in Dubai rank among the most trusted and well-regulated ones in the Middle East and have an expanding international footprint. The Central Bank of the United Arab Emirates (CBUAE) is the primary regulator for Forex / CFD brokers. Additionally, each emirate has its financial regulator, with the Dubai Financial Services Authority (DFSA) being the most established.
The CBUAE ensures brokers follow established guidelines, including Sharia law. Requirements for Forex / CFD brokers to obtain a license consist of having a UAE citizen as the intermediary Forex broker, a minimum of 60% of paid-up share capital with local banks and contributed by UAE citizens, and capital requirements between DH1 million and DH3 million, which is approximately $270,000 to $815,000, dependent on the scope of brokerage activities.
Dubai emerged as a global financial center, and many international Forex brokers chose it as their hub for the Middle East and North Africa (MENA), making the Dubai Financial Services Authority (DFSA) the financial regulator of choice. The DFSA maintains a well-trusted and competitive Forex trading environment.
How to Start Trading Forex in Dubai
Dubai serves as a gateway to the MENA region, as Forex brokers in Dubai expand their footprints.
The below steps are necessary to getting started successfully with Forex trading in Dubai:
1. Education remains the most vital aspect of Forex trading, as it is a high-skilled profession. Even traders who wish to copy others or use account management services must have in-depth education, which allows traders to spot scams and fraud.
2. Use this page as a resource to check out the most competitive choices for Dubai Forex traders, providing a competitive edge and a secure trading environment.
3. A suitable Forex trading strategy, annual goals with realistic expectations, and a risk management profile are paramount to successful trading.
4. Demo accounts are popular but can present a trap for beginners, as fully simulating Forex trading in a demo account is impossible as it lacks trading psychology. Demo trading is like playing a sports simulator, which won’t make you a great athlete. Beginners should learn in a live account with a smaller deposit and consider any trading losses as the price of education.
5. Analyzing daily economic, monetary, and political events allows traders to understand and profit from price action.
6. The placement of hard take profit and stop loss levels should be done with each order before entering a trade. This helps protect against impulsive, emotional trading decisions and allows for a more “set and forget” trading approach.
Conclusion
Forex brokers in Dubai provide a gateway to the MENA region, and benefit from a well-trusted regulator which maintains competitive business conditions. Following the regulatory changes in Europe and Australia, namely by the CySEC, the FCA, and the ASIC, the Dubai Financial Services Authority emerged as one of the more preferred jurisdictions for Forex brokers. An increasing number of the best Forex brokers acquire a DFSA license, and the UAE continuously improves business friendliness.
Dubai Forex traders rank among those with higher deposits, making them a core market for many international Forex brokers. The large foreign population in the UAE makes Forex trading an essential part of everyday life.
Beginner traders in Dubai should avoid the rush to trade Forex but focus on in-depth education, which will form the foundation for successful trading. The Forex brokers in Dubai listed here can ensure Dubai Forex traders get a innovative trading environment, competitive costs, Islamic trading accounts if desired, and a secure and trustworthy partner.
