Forex trading in UAE is the best option as the state provides suitable conditions for trading. The brokers are not required to be authorized by the Securities and Commodities Authority (SCA), a financial regulatory body in UAE. SCA supervises all the markets in UAE.
Best forex brokers in UAE were listed after research and criteria for finding the best forex broker.
They are the following:
Interactive Brokers: Minimum deposit required is $0, which is very attractive for beginners. Regulated by SEC in US and FCA in the UK. UAE regulatory bodies do not regulate them.
eToro:
A minimum deposit of $50 is required. Regulated by CySEC and FCA but not by any UAE regulatory bodies.
RoboForex:
The minimum deposit required is $10. They have the best swap-free accounts for Muslim traders. CySEC regulates them,
FCA and FSC.
Admiral Markets:
Not regulated by any UAE regulatory bodies but by CySEC, FCA, and ASIC.
AvaTrade:
It is considered the most reliable broker, which is regulated by UAE regulatory and other regulatory bodies across the globe too. They require a high minimum deposit of $100.
Best Dubai forex trading platforms
● Interactive Brokers- they use interactive brokers as a trading platform with average spreads of 0.7 pips.
● RoboForex- use MT4 and MT5 trading platforms with spreads of 1.4 pips
● Admiral Markets- they have spreads starting from 0.6 pips and use MT4 and MT5 trading platforms.
● AvaTrade- spreads start from 0.9 pips and use MT4 and MT5 trading platforms
● IG – spreads from 1.0 pips and uses MT4 trading platform
FBS Review
FBS broker is operating in 190 countries. The broker received many awards due to its role in forex trading worldwide. CySEC regulates them. They have an account currency of EUR, requiring a minimum deposit of €10, and high leverage of 1:3000 is offered. The spreads start from 1.0 pips. The broker provides quick withdrawal services.
They provide necessary educational and research tools for trading. The brokers provide an opportunity for trading forex, indices, stocks, and metals. They have 16 million traders around the globe.
Expert Reviews of FBS
FBS reviews show that they fulfil obligations to the partner of the traders union. They provide appropriate trading conditions for traders. The broker provides the traders with demo accounts and real accounts for trading. Demo accounts are important as they let traders trade for free, allowing them to learn a trade and get knowledge for a profitable trade without loss.
The broker has the trading conditions and features that allow the traders to make strategies for beneficial trading. These features make it suitable for novice traders too.
Trading conditions for FBS users
Minimum deposit: €10
Spreads: from 1 pip
Leverage: 1:3000
Order: 0.01 lots
No PAMM Accounts
Accounts: Demo, Standard, Cent
Replenishment or withdrawal: cards- Visa, MasterCard, e-wallets: Skrill, Neteller
Instruments: Forex, indices, metals, futures
Liquidity provider: Currenex
Advantages of FBS:
The advantages of trading through FBS are as follows:
They have good liquidity.
They have regulatory bodies.
Good trading conditions for traders.
Availability of demo accounts and two real accounts for trading.
Good financial instruments.
Protection against negative balance.
Automated trading is another feature of beneficial trading.
Withdrawal options and fees
It is very important to consider the withdrawal options and fees of a broker. Withdrawal can be made through cards: Visa and MasterCard. Withdrawal to electronic wallets, Skrill, Neteller, rapid, and wire transfer are also available. Forty-eight hours are given as maximum time for withdrawal requests. The time taken by the bank to process a withdrawal is 5 to 7 working days. The currency used for withdrawal is the euro. The broker does not charge any withdrawal commissions.
Conclusion
Forex trading in UAE is the best option worldwide as there are many trading facilities in UAE, and they have no restrictions on trading or the amount of money earned. They also do not put a tax on money earned by forex trading. SCA is the regulatory body of brokers in Dubai, but brokers are not required to be authorized by the Securities and Commodities Authority. Traders Union researched the best forex trading options in UAE and listed them to make it easier for you to find the best forex broker. FBS, an online broker, provides good trading instruments worldwide and ensures safe trade.
