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Choosing a good trading broker begins with determining your investing style

On sites like Reddit, Quora, and Trustpilot, the brokers listed below have received above-average ratings.

Here is a list of the best online brokers in the UAE to establish an account with if you want to trade FX, CFDs, stocks, bonds, or purchase cryptocurrency online:

  1. Olymp Trade: People simply love this one

  2. Binance: The world's largest cryptocurrency e-wallet and exchange.

  3. IG Markets: UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC.

  4. City Index: A London-based broker having a branch in the United Arab Emirates.

  5. eToro: Despite the fact that this is a social trading platform, there are better options available.

  6. Swissquote: It is a Swiss bank that offers an online FX and CFD trading platform.

  7. easyMarkets: Israeli brand that is well-known worldwide.

  8. OANDA: A broker headquartered in the United States which is currently broadening its scope.

  9. Forex.com: Google ranks them in the top 10 for the term "forex."

  10. Plus500: A UK brand with its own platform that is suitable for CFDs, with mediocre ratings.

  11. AvaTrade: ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi is in charge of its regulation.

  12. FXCM: This is the most established brand in retail online FX trading.

  13. Mashreq Neo: Mashreq Bank provides an online trading platform.

  14. ForexTime: Andrey Dashin of Alpari broker fame owns the company.

  15. Noor Capital: The UAE Central Bank and the SCA have licenced and regulated the company.

  16. XM: This broker is currently aggressively marketing themselves in the UAE.

  17. Saxo Bank: Danish investment bank having a long history of catering to high-end FX traders.

  18. Pepperstone: Originally from Australia, but licenced in Dubai by the Financial Services Authority.

  19. ADSS: The Central Bank of the United Arab Emirates regulates the company, which is based in Abu Dhabi.

  20. CMC Markets: Broker situated in the United Kingdom that is well-known among CFD traders.

  21. Orient Finance: Local online trading broker specialising on inexperienced traders wishing to invest in foreign exchange markets.

  22. Alfa Financial: Their office is located on Port Saeed Road in City Centre Deira.

  23. One Financial Markets: Local forex broker has an office in the Index Tower of the Dubai International Financial Centre.

  24. Amana Capital: A broker based at Dubai International Financial Center's Central Park Towers.

  25. ETX Capital: A broker based in the United Kingdom with a high reputation among Arab investors.

  26. Century Financial: An old internet trading broker with a downtown Dubai office on Level 6, Building 4, Emaar Square.

  27. IFCM: IFC Markets is nothing spectacular, although it does have a devoted. AE webpage for clients in the UAE.

  28. EARNEX: This one may be seen in Jumeirah Lakes Towers and is SCA-licensed.

  29. Interactive Brokers: American trading firm that is now growing into Asian and Arab markets.

  30. Rakuten Securities: Japanese broker who mostly serves huge institutional investors.

  31. Dukascopy: A Swiss bank that provides online FX trading with its own proprietary platform.

  32. Gulf Brokers: This broker is just like any other out there. There is nothing special about this company.

  33. IQ Option: It is a popular broker with no presence in Dubai, but does have a toll-free virtual number for UAE: 800 032 0891.

  34. Windsor Brokers: This broker provides traders with access to a wide range of trading instruments.

  35. MultiBank FX: It offers the popular MetaTrader platform and is mainly serving UAE residents.

  36. BDSwiss: An international brokerage business based in Zurich, Switzerland.

  37. IronFX: This broker has a tiered structure that offers variable vs. fixed and commission and no-commission fee schedules.

  38. FXPrimus: A multi-asset trading platform that offers over 130 different tradable assets.

  39. Axiory: Provides access to over 60 currency pairs as well as CFDs on energy.

  40. FXCC: An Electronic Communication Network broker that has been in business since 2010.

  41. TMGM: A MetaTrader broker, it also provides the more restricted IRESS platform.

  42. Blueberry Markets: An Australian-based forex broker that was established in 2015.

  43. Global GT: It was founded in the year 2020 in the country of South Africa.

  44. LegacyFX: Its headquarters is in Larnaca, Cyprus, and is regulated by CySEC, MiFID, VFSC, BaFin, FCA, and NBRB.

  45. InstaForex: This broker has been recognized with a number of prestigious awards.

  46. Nadex: This broker enables trading in binary options, knock-outs, and call spreads among other financial instruments.

  47. Skilling: Since 2016, it has been operating successfully as a broker.

  48. Trade Nation: This broker takes an innovative approach to internet trading.

  49. Fortrade: Fortrade makes available for trading a wide variety of assets and financial instruments.

  50. TopFX: A worldwide brokerage platform that has been in business since 2010.

  51. GO Markets: This foreign exchange broker is well-known for providing clients in over 150 countries with great financial products.

  52. VT Markets: An international online CFD broker with headquarters in Sydney, Australia.

  53. Trade360: An online forex broker firm that was established in 2013.

  54. Infinox: This broker offers highly competitive specifications for its equity CFDs.

  55. Naga: This broker has a diverse range of traders with access to a comprehensive selection of trading products.

  56. Just2Trade: Just2Trade is a discount brokerage service that was established in 2010.

  57. JustForex: A well-known retail forex broker that was established in Saint Vincent and the Grenadines.

  58. MEX Exchange: This broker is licensed and controlled by the Australian Securities and Investments Commission.

  59. Xtrade: Foreign exchange (Forex) and contracts for difference (CFD) broker that is regulated by the CySEC.

  60. TriumphFX: Minimal costs, the fast trade execution speeds is something this broker offers.

  61. LiteFinance: This broker provides an extensive array of financial instruments suitable for professional trading.

  62. ROinvesting: One of most successful FX and CFD brokers out there.

  63. ETFinance: The Spanish basketball team Real Madrid has tapped the financial services firm ETFinance as its official sponsor.

  64. Charterprime: It provides a comprehensive selection of trading services and speculative portfolios.

  65. Goldwell Capital: This broker is known for expert customer-service agents who are accessible around the clock.

  66. TIO Markets: Traders have access to a wide selection of assets in a number of different marketplaces.

  67. JP Markets: They run their business out of a number of different nations around Africa.

  68. FXFlat: This broker is intended to be used for trading a wide variety of CFD derivatives.

  69. Global Prime: MT4 broker that offers a low-cost trading environment.

  70. Fullterton Markets: This broker boasts superior services and unrivaled protection for traders' funds.

  71. IC Markets: The broker's primary operating licenses come from the Australian Securities and Investments Commission (ASIC).

  72. Lirunex: Traders from all around the world may take advantage of this broker's exceptional trading services.

  73. FIBO Group: One of the most established companies in the field of marginal online trading

  74. Binomo: One of the most well-liked trading platforms available to investors.

  75. Equiti: A broker that focuses mostly on doing business in the Middle East.

  76. ICM Capital: This broker makes available for trading a diverse array of financial assets.

  77. Admiral Markets: The firm has offices in Australia, UK and Cyprus, and it was established in Estonia.

  78. FXDD: It provides customers with the ability to select their own latency for market movements.

  79. Accuindex: A relatively new player in the foreign exchange (Forex) and contract for difference (CFD) markets.

  80. Kraken: A cryptocurrency trading platform that was established in the year 2011.

  81. BitMEX: The platform continues to see an increase in the number of users on a daily basis.

  82. Bybit: One of its most significant benefits is that users are exempt from paying any financing fees.

  83. Huobi: One of the cryptocurrency trading exchanges that has a high level of liquidity.

  84. Deriv: This broker has over a million traders from all over the planet.

  85. Bitmart: It offers several services that are finely tailored to meet the needs of both entry-level traders and professional investors.

  86. CEX.IO: This exchange has been instrumental in promoting the goals of the cryptocurrency trading industry.

  87. PrimeXBT: It has had exponential growth, and it now provides services to customers in more than 150 countries.

  88. Bitpanda: It has become one of Europe's largest retail brokers.

  89. Deribit: Traders may trade Bitcoin and Ethereum with 100x leverage.

  90. Coinbase: It is widely regarded as one of the most reliable cryptocurrency exchanges in the world.

  91. Coinmama: It is a cryptocurrency exchange with headquarters in Israel.

  92. Poloniex: One of the most prominent and largest cryptocurrency exchanges in the world.

  93. Phemex: It has developed one of the quickest systems in the world for trading cryptocurrency derivatives.

  94. FBS: It is a worldwide forex and CFD brokerage firm that was established in 2009.

  95. ExpertOption: It has developed a reputation as one of the premier brokerages on the market.

  96. OctaFX: It is a well-established and regulated STP broker that offers trading on a limited number of financial assets.

  97. FxPro: They are currently well known all over the world and have their headquarters in the UK.

  98. HotForex: It is constantly regarded as one of the top 10 most influential brokers in the world.

  99. BlackBull Markets: A foreign exchange and CFD brokerage firm with headquarters in New Zealand.

  100. Gemini: Cryptocurrency exchange that was established in 2014 in the United States by the Winklevoss twins.

  101. Uphold: New York-based Uphold has been in the industry since 2015.

  102. Currency.com: It has been approved by the Financial Crimes Enforcement Network (FinCEN) to operate as a Money Service Provider.

  103. Margex : Privacy, trading safety, and openness are three of their primary benefits.

  104. KuCoin: It has more than 540 supported currencies and over 960 trading pairs.

  105. Bittrex: It is appropriate not just for individuals but also for institutions.

  106. Eightcap: They are regulated locally by the Australian Securities and Investments Commission (ASIC).

  107. Tickmill: This broker provides its customers with a number of different incentives.

  108. Uniswap: It is the de-facto decentralized exchange for any Ethereum network-based coin.

  109. PancakeSwap: A decentralized exchange for exchanging BEP20 tokens on the Binance Smart Chain.

  110. SushiSwap: It was motivated entirely by the need to make it easier for users to establish liquidity pools.

  111. Quickswap: To begin using and trading on QuickSwap, you will first need to link your MetaMask wallet to Polygon.

  112. Nexo: Michael Arrington, a well-known investor and the creator of TechCrunch, is behind the platform for cash-based lending.

  113. Crypto.com: It provides the opportunity to earn interest on cryptocurrency at a rate of up to 6.5 percent per annum.

  114. Alvexo: It provides its very own unique mobile trading software that is compatible with mobile devices running Apple iOS and Google Android.

  115. Bitstamp: One of the most venerable and the most established cryptocurrency exchanges currently in business.

  116. AQRU: An app that is both encrypted and secure. The interest is paid out each day.

  117. 1Market: It provides trading and investment services in a variety of markets.

  118. Zebpay: A well-known cryptocurrency exchange that has more than 3 million customers.

  119. WazirX: It is a cryptocurrency exchange company based in India.

  120. Midas Investments: Midas.Investments provides clients with a variety of investment opportunities.

  121. CoinLoan: It's mission is to improve borrowers' and lenders' access to financial services.

  122. FXOpen: Their products and services, in addition to their technological advancements, have been acknowledged several times.

  123. CoinTiger: It is a well-known cryptocurrency exchange in Southeast Asia.

  124. OKX: It is among the most significant cryptocurrency exchanges in the entire globe.

  125. DexGuru: It is a permissionless and decentralized exchange that intends to assist users in analyzing real-time data for all on-chain marketplaces.

  126. Dsdaq: It has locations in Hong Kong, Singapore, Bangkok, Vienna, Barcelona, Buenos Aires, and Nigeria, among other places.

  127. Tokenize: This trading platform is marketed as having the ability to link fiat currency with cryptocurrencies.

  128. SimpleFX: An offshore company with its headquarters in St. Vincent and the Grenadines.

  129. Atani: It has swiftly established itself as one of the most promising blockchain related firms in Europe.

  130. CoinSmart: A well-known digital currency exchange that began operations in 2018 in the city of Toronto.

  131. Hodlnaut: It opens up a wealth of options for its customers, allowing them to make more effective use of the crypto assets.

  132. Bitfinex: Its trading fees are far lower than the industry standard.

  133. Swyftx: It has a straightforward and transparent option to purchase, trade, and sell more than 290 different cryptocurrency projects.

  134. Independent Reserve: It is a cryptocurrency exchange based in Australia.

  135. CoinSpot: It is a cryptocurrency exchange that was established in 2013 and is situated in Australia.

  136. Digital Surge: This platform places a strong emphasis on instructional features, individualized client service, and user friendliness.

  137. YouHodler: This cryptocurrency lending company offers an annual interest rate of 12% on stablecoins and 4.88% on bitcoin.

  138. CoinJar: One of these prominent cryptocurrency trading platforms in the crypto ecosystem.

  139. Finblox: It's an effective alternative is to hold your cryptocurrencies in order to generate income on them.

  140. EagleFX: It's a STP/ECN broker that offers incredibly cheap costs and spreads.

  141. AdroFx: It is a worldwide finance broker that serves customers in over 200 countries.

  142. ActivTrades: This broker has more than two decades of experience working in the financial technology industry.

  143. Gate.io: The platform supports close to 200 different currencies.

  144. Upbit: Headquartered in South Korea and is backed by one of the largest digital firms in the world.

  145. bitFlyer: It is a well-known cryptocurrency exchange based in Japan.

  146. BTC Markets: One of the cryptocurrency exchanges available that has some of the lowest trading fees.

  147. Bitoasis: It offers a variety of services, including storage and trading of cryptocurrencies.

  148. Finq: The brand was first introduced with the sole intention of serving the Asian market.

  149. Rain.bh: It's headquartered in Bahrain.

  150. Easy Crypto: It's a cryptocurrency platform that has been around for a while and is situated in New Zealand.

  151. Cointree: It is a cryptocurrency exchange that is based in Australia.

  152. Bibox: This Singapore-based cryptocurrency exchange has evolved rapidly.

  153. ZB.com: Chinese cryptocurrency exchange ZB.com is regarded as one of the best.

  154. HitBTC: This cryptocurrency exchange started operating in 2013.

  155. Paxful: It is widely regarded as the premier peer-to-peer cryptocurrency exchange.

  156. LocalBitcoins: It is a peer-to-peer cryptocurrency trading business that is situated in Finland.

  157. LocalCoinSwap: A highly regarded peer-to-peer (P2P) platform that offers multi-custodial cryptocurrency trading options.

  158. CoinMarketCap: It focuses on cryptocurrencies and other non-traditional assets and is packed full of features.

  159. TradingView: It is a robust stock screener, charting platform, and research powerhouse.

  160. B2Broker: For entrepreneurs and wealthy investors looking to open up their own Forex Brokerage House or a Cryptocurrency Exchange.

 

Choose a broker that works great for you

Choosing a broker is akin to choosing an investable asset in terms of complexity

Online Trading Platforms and Apps for UAE

 

Inspect the Broker's Platform

While each brokerage should offer a pretty full summary of the tools and resources available on their trading platform, testing the platform is sometimes the most effective approach to determine its overall quality.

If you can open a free trading account with a broker, it may be worth your time to go through the registration process only to get access to the trading platform, rather than paying for it afterwards.

 

Broker-provided Education

While a user-friendly and intuitive trading interface is crucial, you should also look at the brokerage's instructional programmes and play around with the search tool to see how well it works.

 

Deposits and Withdrawals Processing

Transferring money into and out of your brokerage account should be as straightforward as possible, particularly if you're investing to supplement your regular income.

  • Having the ability to withdraw cash may not be as vital if you choose to employ a more "set-it-and-forget-it" approach.
  • Although life might be unpredictable, it's a good idea to familiarise yourself with the deposit, withdrawal, and money settlement policies of any brokerage you're contemplating.

 

Supreme Customer Service is extremely essential

You've most likely narrowed your choices down to one or two brokerages that stand out above the others in terms of resources, features, and usability, respectively.

 

The reality is that the vast majority of people have accounts with forex brokers that are not licenced in the UAE.

The utilisation of leverage is the fundamental explanation behind this.

  • Local legislation prohibits the use of high margins, but brokers registered in Cyprus, Saint Vincent and the Grenadines, and Curacao, for example, are significantly more lenient.
  • Few brokers in Israel, Bulgaria, Russia, and Ukraine provide leverage of up to 1:2000 on popular currency pairs.
  • As a result, foreign brokers are significantly more appealing to local UAE citizens.

 

Many forex brokers provide apps for both Android and iOS devices

Online Trading in the UAE

Smartphones have the potential to be used to trade FX. MetaQuotes' MT 4 and MT 5 FX trading software programmes are well-known. The abbreviation for MetaTrader is MT. It is also available on mobile devices such as Android and iPhone variants.

The majority of brokerage businesses provide an online trading platform, such as MetaQuote's MetaTrader (MT4, MT5).

 

The Securities and Commodities Authority generally regulates online forex or CFD trading brokers in Diera and Bur Dubai, however the Dubai Multi Commodities Centre (DMCC) regulates those in the JLT area.

As a result, the great majority of them are unquestionably legal and genuine.

 

Social trading platforms are also quite popular in the UAE for the same reason.

On a social trading platform, a person can deploy funds to a large number of his or her peer traders.

  • They trade on your behalf and divide the profits and losses with you.
  • People keep scouring Google or eToro's own website for great traders to emulate, but they have no knowledge that the vast majority of traders on their platform lose money over time.
  • This means that just imitating a top trader on eToro will not result in a profit. If they were actually lucrative, they would not be selling signals.

 

The UAE is thought to have around 600,000 active forex, cryptocurrency, and stock traders. There are now roughly 3,000 professional investors in Dubai.

The Central Bank of the UAE, the Dubai Gold and Commodities Exchange (DGCX), and the Dubai Financial Market (DFM) oversee and control the issuance and management of licences for forex, stocks, bonds, and cryptocurrency brokerage houses and banks in the nation.

 

Contact Regulatory Bodies

Central Bank of the UAE

King Abdullah Bin Abdulaziz Al Saud St - Al BateenW34 - Abu Dhabi

Dubai Gold & Commodities Exchange (DGCX)

Floor 37, Gold Tower, Cluster I, Jumeirah Lake Towers, Dubai
Telephone Number: +971 4361 1600
For Compliance related queries: Email - compliance@dgcx.ae

Dubai Financial Market (DFM)

World Trade Centre (Rashid Tower)
Sheikh Zayed Road
T: +971 04 305 5555
E: mc@dfm.ae

International Regulatory Bodies

Here is a list of all known Regulatory Bodies that oversee trading and investment activities in Forex, Crypto, CFDs and Stocks both for local and foreign brokers:

 

Final afterthoughts on how you should choose a broker

As much as we realise how appealing it is to just signup for a brokerage firm that has the most aggressive advertising strategy, we believe that good investing requires careful consideration even before you make your first transaction.

To make trading a long-term passion, a future profession, or just an additional source of income for your retirement, it's vital that you use the tools and resources that will ensure you have a successful and enjoyable trading experience.

 

 

Written by Arpita Singh

Arpita SinghArpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.