There are a lot of forex brokers online but the best is a question to ask yourself. This article outlines the top 5 best forex brokers in Dubai.
Before we dive into the top 5 best forex brokers in Dubai, let’s first look at how to to choose a forex broker as a Dubai trader.
How to Choose a Forex Broker (as a Dubai trader)
General Regulation & Regulation
Regulation of forex trading in Dubai is carried out by the Central Bank of UAE, and licensing of brokers is performed by the Securities and Commodities Authority (SCA). The SCA was established in 2000 and has a collaborative reporting mechanism to several international regulatory and tax organizations.
Dubai has a number of local as well as offshore forex brokerage companies offering forex to citizens and residents of Dubai. There are also offshore brokers which maintain a presence in Dubai, either by operating full-fledged regional offices or by working with partner firms based locally.
Trading Platform & Software
What kinds of trading platforms and software will you have access to as a Dubai forex trader? Dubai forex brokers provide their clients with a range of turnkey and proprietary software for trading. Apart from the MT4, other software such as the NinjaTrader and JAVA-based trading software are provided. Some of these platforms come with mobile and web-based versions as well.
Commissions & Spreads
Dubai forex brokers who function as market makers do not charge commissions on forex trades. However, Dubai forex brokers who operate the ECN model charge commissions on forex trades. Both categories of forex brokers charge commissions on CFD trading. Traders are offered at least 50 forex pairs to trade with on many of the major brokerage platforms, with minimum spread of 1.5 pips. Spreads can be as high as 100 pips on exotic pairs such as the USD/MXN or USD/ZAR.
Account Types
Some Dubai forex brokers will provide trading account stratification to accommodate different types of traders. Traders will have access to beginner-level accounts, intermediate accounts as well as VIP account types.
Customer Service
Dubai is an international hub. Therefore, in addition to the locally spoken Arabic language, Dubai forex brokers offer highly efficient and knowledgeable customer service in different international languages such as English, French, Spanish, German, Portuguese, and Mandarin.
Additional Services
The competition among Dubai forex brokers is high, and many will provide extra services to traders such as managed account services, forex VPS services, social trading services and account funding bonuses.
After gaining the knowledge about the criteria of choosing a forex broker as a Dubai trader, take a look at the top 5 best forex brokers in Dubai.
5 best forex brokers in Dubai 2019
Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.
1. FXGLORY
Fxglory is a worldwide online broker founded in 2011 and now is among the largest and most respected companies in the world of the Forex market. Our company has succeeded and grown by listening to the clients and meeting their needs. Since our foundation, a team of professionals has been formed who are specialists in the currency and financial markets.
Fxglory gained a reputation as one of the most respected companies in the world of Forex market. It combines flexibility and ease-of-use with remarkable professionalism. What makes Fxglory outstanding among other brokers is their customer satisfaction, unique website design, competitive and fully transparent prices, cutting-edge trading tools, trustworthy trade execution, the highest leverage in the world, up-to-date, reliable, high quality services, multilingual 24 hour support center to help clients succeed in the global markets. They provide clients with an easy access to a safe and rich trading environment. Their financial transparency gives clients and partners confidence that the company is well-managed and well-organized.
You can easily and rapidly start trading with Fxglory. The registration process takes a few minutes and the initial deposit can be 1 USD which lets anyone to become a Forex market trader. The company gives an excellent opportunity to increase your deposit and make your trading profitable. Fxglory gives 50% bonus for each deposit automatically.
As a trader, you should first know what leads you to succeed in the world of Forex market. Your success depends on many factors such as your knowledge, Forex trading skills, experiences and the way that you monitor and analyze the market. Beside these factors, choosing the leading partner is very important. Fxglory will assure its clients with the safe and experienced trading environment and always follow the principles of successful trading.
2. FBS
FBS is an international broker with more than 190 countries of presence. 13 000 000 traders and 370 000 partners have already chosen FBS as their preferred Forex company.
To provide the best customer experience FBS organizes seminars and special events, providing its clients with training materials, cutting-edge trading technologies and latest strategies on the Forex market. Both newbie and professional traders will find these sessions useful.
FBS was founded in 2009 and since then received numerous international awards: the Best FX IB Program, Best FX Broker Indonesia, Best Forex Broker Southeast Asia, Best Forex Broker Thailand, Best International Forex Broker, Best Customer Service Broker Asia 2016, Top IB Program 2016, Highly Recommended Broker Insurance Company in Indonesia of the year, Best Forex Brand, Asia 2015, Best Safety of Client Funds Asia 2015, Best broker in Asia-Pacific region 2015, Best broker in the Middle East, Most Transparent Forex Broker – 2018, Best Forex Trading Account 2018, Best Copy Trading Application Global – 2018, Best Forex Broker Asia-2018, Best Investor Education – 2017, Best FX IB Program – China 2017, the Most Progressive Forex Broker Europe 2019, Best Forex Broker Vietnam 2019.
3. eTORO
Since 2007, eToro has consistently taken measures to ensure its platform makes online trading and investing accessible to anyone. By keeping a balance between giving easy access to beginners and improving upon important elements for more experienced traders, eToro has solidified itself as the world’s leading social trading platform. eToro offers both short-term options for day traders and long-term options for investors, such as our innovative CopyPortfolios™ – a fully managed thematic portfolio. We also acknowledge that different traders have different risk-appetites, and offer instruments varying from low to high risk. Our tools are easy to use, and we make all of the information on the platform accessible on both our web interface and in our mobile app. It is no wonder that more than 6 million people worldwide choose eToro as their preferred trading platform.
eToro takes great pride in its social trading features, enabling its clients to benefit from the collective wisdom of its vast network of traders. Our social newsfeed, CopyTrader™ system, and Popular Investor program utilise the full potential of our next-generation social trading platform. With numerous successful traders using our platform to share their strategies, eToro clients have everything they need to pursue their financial goals.
Since all trading involves risks, and eToro wants its clients to make smart investment decisions, our platform offers a wide range of responsible trading features. eToro is fully regulated, adhering to the strict guidelines of CySEC, FCA and ASIC. Beginner traders will receive guidance when making their first steps in online trading, and experienced traders will enjoy risk-management features to help them trade smartly and responsibly.
eToro takes every necessary precaution to keep its clients’ personal information and funds safe and secure. We employ the highest standards of cyber security, while the clients’ funds are kept safe in tier 1 European banks.
The only way to make sure our clients get the full benefits of our social features and have all the information they need to use them, is by operating in full transparency. On eToro, each client who can be copied has their profile available for all other users to see, including valuable information such as past performance, gain, risk score, portfolio diversity and much more. Additionally, eToro has no hidden fees or commissions, and all payments are explained in a clear and simple matter.
4. LIBERTEX
Operating since 1997, Libertex is an international, trustworthy brand with more than 20 years of financial market and online-trading experience. Each Libertex client is treated with special care and offered a variety of high-speed, reliable, cutting edge technology platforms to choose from.
By leading the customers into an engaging and compelling trading experience, we have built a long-term legacy of superior service to traders. Libertex is serving clients from more than 110 countries.
As one of the international leaders of the industry, the company has won over 30 prestigious awards worldwide. Each year, the leading position strengthens both in the markets where it has established presence and in the new markets where the company is entering with its innovative products and services.
5. FPMARKET
FP Markets is an established global CFD and Forex provider with over 14 years industry experience. Our vision was to create a one stop destination where traders could access a full suite of trading products in global markets. The convenience of being able to trade CFDs across equities, forex, indices, commodities, futures and Bitcoin from the one account is one of the key reasons traders choose FP Markets.
What sets us apart from our competitors is our deep understanding of what traders need. We’ve learnt that the combination of pricing, execution speed, platforms, product range, customer support and market analysis are the key ingredients that give our clients the confidence they need in their broker.
Trading futures CFDs at FP Markets uses real exchange data. You can choose the expiry you want by choosing the expiry contract month and get exposure to the real futures contract. With a large selection of contracts to choose from, including major commodity futures such as Crude Oil, Live Cattle, Corn, Platinum and SFE SPI 200 FP Markets Futures trading offers the exposure you need to get ahead with your trading.
A Futures contract is an agreement to buy or sell a specified commodity or financial instrument at a predetermined price in the future. Trading Futures CFDs gives exposure to the price movements of these contracts. Common Futures CFDs include index futures, speculating on the future price of a stock index; currency futures, used to lock-in the future price of currencies and commodity futures, commonly used to lock-in the future price of certain agricultural products, energy and metals.