Changing or choosing a new forex broker in UAE can be a challenging task. This comes from the fact that you may have a lack of information about the possibilities when changing. Forex traders around the world are no different in this scenario.

For that reason we have collected a listing of the best recommended brokers in UAE along with some other useful information on forex trading there to keep you on the correct track.

Is Forex Trading legal in the UAE?

This is a commonly asked question, the answer to which is positive.

Yes, forex trading is legal and permitted in the UAE which is comprised of 7 independent Emirates.

Typically UAE forex brokers will register in Dubai since it is a special economic area within the UAE and home to some of the areas most respected regulators the DFSA. Outside of that, you can look for regulation by the SCA which is the UAE’s Federal and Securities Commission Authority, or the Central Bank of Dubai.

In any case, the most commonly found and trusted regulation for UAE brokers is from the DFSA.

How to trade forex in the UAE

Due to the common point of typically being registered in Dubai, you will have to follow these DFSA regulations when starting to forex trade in the UAE.

This is generally simple though and should only require proof of your identity and residence prior to funding your account.

Top 10 Best Forex Brokers in the UAE

Here are the top 10 brokers that we have identified for your choosing as a forex trader in the UAE:

1. HotForex

The first broker on our listing of the best in Dubai is HotForex. They are very well regulated by the FCA, CySEC, FSCA, and FSA, as well as the DFSA of Dubai and are known as one of the regions top brokers. They also have Arabic language support available.

Here you can choose from 3 account types which are the Premium account available for a 400 AED minimum deposit, Premium Pro for 2000 AED aimed at professional traders, and VIP account for 74,000 AED that comes with your own personal account manager. Islamic and demo accounts are available.

You can deposit through wire transfer, visa credit cards, Neteller, Skrill, or Bitcoin and most are fee-free. USD and EUR deposits are available though AED is not and only the USD is supported as a base currency. Trading is through MT4 and MT5 with spreads starting at 0 pips and 50:1 leverage on major currency pairs available that can rise to 400:1 for professional traders.

  • Regulations: CySEC, FSC, FSB
  • Minimum deposit: $50
  • Platforms: MT4
  • InvestinGoal rank: 3.9/5

72.21% of retail CFD accounts lose money

2. XM

Next on our top UAE broker listing is XM. They are again strongly regulated by a number of bodies including the IFSC, CySEC, ASIC, and the DFSA all of whom are well-respected. They are also known to offer a top Islamic account and Arab language support.

The accounts you will find on arrival are a Micro, Standard, Ultra Low, and Shares account. These start with a minimum deposit of $5 on the Micro and Standard accounts, $50 on the Ultra-Low account, and $10,000 for a shares account with both Islamic and demo accounts available.

Account funding can be completed through wire transfer, credit card, and eWallets and is in the most part fee-free. AED deposits may also be available through local bank transfer or credit/debit cards while USD, EUR, and GBP base currencies are all available. Trading takes place through both MT4 and MT5 trading platforms and the spread here starts from 0 pips.

  • Regulations: ASIC, CySEC, IFSC
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4/5

69.75% of retail CFD accounts lose money

3. FxPro

The next top UAE broker to feature is FXPro. They are also regulated by some of the top names in the forex sector in the form of the FCA, CySEC, FSCA, DFSA, and SCB and are a much decorated broker with dozens of awards to their name. Arabic language support is also available.

Here you can choose from 3 account types each with a $100 minimum deposit and Islamic accounts and a full demo account both available. You can fund your account through wire transfer, major credit or debit cards and USD, EUR, and GBP are all available as base currencies.

Trading here is completed through your choice of MT4, MT5, and cTrader with a spread starting from a very competitive 0 pips and 50:1 leverage available on major forex pairs.

  • Regulations: SCB, FCA, FSB, CySEC
  • Minimum deposit: $100
  • Platforms: MT4, MT5, cTrader
  • IG rank: 4.5/5

79% of retail CFD accounts lose money

4. IG Markets

IG Markets is next up in our listing of top UAE brokers. The broker is comprehensively regulated by the FCA, NFA in the US, MAS, and the DFSA and has thousands of assets available to trade. They also support Arabic language assistance.

In terms of accounts, both a direct market access and CFD account are available and the minimum deposit currently stands at $300 with a demo account available to try for free and Islamic accounts available on request.

You can fund your account through wire transfer, credit or debit card, and eWallet, many of these are fee-free. You can certainly deposit in USD or EUR and AED may be available to deposit but it is not as a base currency. Forex trading here is through MT4 or the proprietary trading platform while spreads start from 0.6 pips and leverage reaches 50:1.

  • Regulations: FCA, ASIC
  • Minimum deposit: $250
  • Platforms: MT4, L2 Dealer
  • InvestinGoal rank: 4.5/5

68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether can afford to take the high risk of losing your money.

5. ADS Securities

Next in or collection of top UAE forex brokers is ADS Securities. They are an all-round broker with a focus on both investing and trading services as well as Bitcoin. They are regulated by the FCA, SFC, and the UAE Central bank and Arab language support is available.

You can choose between 2 account types that are available. The classic account has a $100 minimum deposit and the Elite Account is aimed at professional traders and can also be turned swap-free where needed with a demo account available.

You can fund your account through credit cards and eWallet methods with most being fee-free and although there are no AED deposit methods, the USD base currency is supported with trading through MT4 and a proprietary platform starting with a spread of 0.1 pips.

  • Regulations: FCA, UAE, SFC
  • Minimum deposit: £200
  • Platforms: MT4, Orex Platform
  • InvestinGoal rank: 4.2/5

74-89% of retail CFD accounts lose money


HYCM is next to feature as one of our top UAE forex broker choices. They are comprehensively regulated by the FCA, CySEC, CIMA, and DFSA of Dubai and offer Arabic language support along with their excellent account choices.

There are a total of four account choices including a fixed spread, raw spread, standard, and VIP account with a minimum deposit that ranges from $100 to $200 depending on account type. The VIP account required a $10,000 minimum deposit and both Islamic and demo accounts are available.

Your account can be funded with wire transfer, major credit cards, and Skrill, Neteller, or WebMoney. Most deposits are fee-free and AED deposits are available through wire transfer or credit card with USD, EUR, and GBP base currencies supported. Spread start from 0.2 pips while trading is carried out on MT4 and MT5 with a 50:1 leverage on major forex pairs.

  • Regulations: FCA, CySEC, CIMA
  • Minimum deposit: $100
  • Platforms: MT4, MT5
  • InvestinGoal rank: 3.8/5

58% of retail CFD accounts lose money

7. AvaTrade

This top UAE forex broker who originate in Ireland are one of the few to offer fixed spread trading and are very well-regulated by the CBI, FFAJ, ASIC, and FSCA. They also support Arabic language options.

When it comes to account choices, a retail account as well as options trading and spread betting accounts are available. It is best to stay clear of spread betting as a UAE trader though for reasons you can see in a later section. The minimum deposit here is $100 with both Islamic and demo accounts available.

You can fund your account by wire transfer, credit card, and eWallet with most being free of charge. AED deposits are typically available through wire or card payments and the USD, EUR, and GBP are all base currencies.

Trading is carried out through MT4, MT5, and Webtrader with the fixed spreads on the platform beginning at 1.3 pips.

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.5/5

71% of retail CFD accounts lose money

8. FBS

FBS are the next broker to be featured on our list of top UAE forex brokers. They are well-regulated by the trusted CySEC and IFSC both. They are also well recognized as a great choice for the new trader and they do support Arabic language service.

You will find a cent, standard, and ECN account type available here with the minimum deposit ranging through $1, $100, and $1,000 respectively for each. A fixed zero spread account with a minimum of $500 is also available as are demo accounts to try, and Islamic accounts where needed.

Funding through wire transfer, credit cards and eWallets is all available and fee-free for the most part with AED available to deposit through local exchangers and USD, EUR, GBP, and more base currencies available.

Trading is done through MT4, MT5, and Webtrader and there is also a proprietary copy trading platform. Spreads start from 0 with the zero spread accounts but typically from 0.5 pips on others.

  • Regulations: IFSC, CySEC
  • Minimum deposit: $1
  • Platforms: MT4, MT5
  • InvestinGoal rank: 3.9/5

74-89% of retail CFD accounts lose money

9. OctaFX

Another top UAE forex broker we feature is OctaFX. Again they are well-regulated by both the FCA and CySEC. They also possess one of the top swap-free accounts in the sector although no Arabic language support is available right now.

3 account types are available though which are the Micro, ECN, and Pro accounts. The minimum deposit here is $100 or $500 for the Pro account and both demo and Islamic accounts are available when requested.

You can fund your account through Visa, Skrill, Neteller, and Bitcoin with the fees being free in many instances although no AED deposit methods are available. Once funded, you can trade through USD, EUR, and GBP base currencies with spreads from 0 pips on all the top platforms MT4, MT5, and cTrader.

  • Regulations: FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4/5

74-89% of retail CFD accounts lose money

10. Swissquote

Last but not least on our top UAE broker listing is Swissquote. They are regulated by the FCA, MAS, and DFSA in Dubai and offer a range of banking and investing services in the region rather than the regular broker style you would typically see. This means they do not offer forex assets but stocks, ETFs, and Bonds for trading. Arabic is not supported at the moment.

With this broker you can choose between the Standard, Premium, and Prime accounts and there on no minimum deposit on the Standard account. The minimum on the others is $1200 and $2000 respectively. The more you deposit here, the lower your spreads can become.

Swissquote also provide a “Robo advisor” service which suggests potential trades for you based on what you are interested in and your trading patterns.

  • Regulations: FCA, MFSA, DFSA, SFC
  • Minimum deposit: 0$
  • Platforms: MT4/5 Web
  • InvestinGoal rank: 4.0/5

80% of retail CFD accounts lose money

UAE trader? Here’s what to look for in a forex broker

As a UAE trader, there are a few country specific points to look out for when you are getting into forex trading here. It is also helpful to know that 50:1 leverage will typically be available unless you are a professional trader in which case 400:1 will be open to you.

You should also remember that although it may be offered, spread betting is probably considered Haram and thus not legal in the UAE.

Therefore, it would be a good idea to steer clear of this while taking on board the following tips:

1. Look for brokers regulated within the UAE

Regulation in forex is of course always a key issue. For this reason and to ensure you are with the most trusted brokers, you should always seek out the best approved regional regulation. In this case that means DFSA brokers or those regulated by the Central Bank of Dubai.

If you want to trade with an international broker under ESMA, CySEC, or FCA regulations, this may be available to you although depending where in the UAE you are based, it makes sense that you should verify with local authorities first.

2. Look for Sharia compliant accounts if you need it

As a muslim area, this point will be key. Paying overnight, or swap fees is considered to be interest and therefore against Sharia law. You should do everything you can to ensure the broker you choose provides for a fully compliant Islamic trading account.

If you want to know more about islamic accounts, which assets are halal, which ones are not, and more information about islamic trading, check out our post on the best swap-free brokers.

3. Look for brokers that make your trading life easier

Convenience is key. Since the AED is rarely supported as a forex broker base currency, this is one more thing you should check for. It is very likely then that you will be paying a conversion fee every time you deposit or withdraw cash from your account. You should try to make sure that these fees are at the very least competitive in order to bring down your cost of trading overall.

How to verify if a forex broker is regulated in the UAE

As mentioned, within the UAE, there are 3 specific regulators that could be used. These are the DFSA, the Central Bank of Dubai, or the SCA. With the DFSA, simply head over to their official website DFSA official website and use the search function to input the brokers business name (You will often find this at the bottom of the broker homepage).

In the case of SCA and the Central Bank, all you can do is contacting them through their official websites which we have conveniently linked above for you.

Is forex trading taxable in the UAE?

Although each Emirate acts independently when it comes to tax matters, this is one of the few tax-free regions in the world. Given that they do no apply any capital gains tax at all then, your forex trading should be tax free.

With that said, there may well be some other types of tax to consider like VAT or something else and given the UAE have a very strict approach in this regard, you would be well-advised to contact a tax professional on those issues.


DISCLOSURE may receive a monetary compensations from the brokerage companies listed above.