Best Forex Brokers in United Arab Emirates for 2022

logomark Filippo Ucchino calendar Last Updated: December 2021 timer 12 min read
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At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

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.

Table of contents

Top 10 Forex Brokers in UAE (United Arab Emirates)

Here are the top 10 brokers that we have identified for your choosing as an Emirati forex trader:

Hotforex is a great broker within the United Arab Emirates. 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 region’s 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.

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71.64% of retail investor accounts lose money

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 funding amount 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.

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73.57% of retail investor accounts lose money

The next top broker in UAE to feature is FXPro. They are also a well-regulated forex company by some of the top names such as 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 funding 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.

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75.54% of retail investor accounts lose money

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.

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76% of retail CFD accounts lose money

Next in our collection of top UAE 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 amount required 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.

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74-89% of retail CFD accounts lose money

HYCM is next to feature as one of the best forex brokers in UAE. 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 requires $10,000 and both swap-free trading 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.

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72% of retail investor accounts lose money

This top UAE forex broker who originates in Ireland is one of the few to offer fixed spread trading and is 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.

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79% of retail investor accounts lose money

No conversation on the best forex brokers for Emirati traders would be complete without mentioning Pepperstone. They are one of the most well-known brokers in the industry around the world, and are known for their trusted reputation and positive treatment of traders. This extends to the United Arab Emirates as they are well-regulated by the DFSA under number F004356 and fully compliant.

The acclaimed and award-winning broker makes a leverage of forex trading of up to 50:1 available to you as a UAE trader. This can be increased to a maximum of 500:1 leverage if you are a professional trader. The AED is not a supported base currency but there are others available, and the trading costs are excellent, starting from a very low point. This point gets as low as 0 pips spreads on some assets with swap-free trading also available. These accounts allow you to be fully Sharia law compliant when trading. A final very attractive positive from Pepperstone is the access to their very beneficial active trader program. This can not only reduce your trading costs but also bring a host of other benefits such as advanced market insights and more.

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74-89% of retail investor accounts lose money when trading CFDs

Oanda is one of the most respected forex brokers in the world with excellent regulation in place that make it an extremely trustworthy place to trade. The broker originates from the US but now operates around the world having been founded in 1995. They are regulated by the FCA, ASIC, JFSA, MAS, NFA and IIROC and provide service in more than 100 countries.

While Oanda are not regulated by UAE authorities, they are allowed to operate in the country. Their excellent reputation is backed by a no minimum deposit requirement and low minimum lot size for trading. This makes them an excellent choice for new traders who are able to open positions from $0.01.

Though they do not offer the widest range of forex pairs for trading, and you will have to use another currency as no AED deposits or AED account base currencies are supported, they do offer competitive trading costs with a spread that starts from the industry average of only 1 pip.

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73.50% of retail investor accounts lose money

Go Markets is next to feature on our listing of the top forex brokers UAE has to offer. They are regulated by several different bodies including ASIC and CySEC, both top regulators in the industry. Their GO Markets MENA DMCC entity is also a Trade Member of Dubai Gold and Commodities Exchange and the UAE Securities & Commodities Authority.

The extremely well-trusted broker offers spreads from 1 pip with their standard account that has a $200 minimum deposit, and from 0 pips with a GO Plus+ account where the commission is $2.50 per side, and the minimum deposit is $500. In UAE, Islamic accounts are available on both types.

The broker supports AED as a base currency meaning no conversion fees, and a discount for new traders can also be offered depending on the asset traded and whether they meet set criteria.

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50% of retail CFD accounts lose money

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 United Arab Emirates 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 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.

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 within the Emirates.

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

1. Look for UAE regulated brokers

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 rollover-free 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 trading 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.

About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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