Best Dubai Forex Brokers for 2022

Investors in Dubai are very active in the forex market. In fact, there are a lot of foreign investors who are also setting up Dubai-based accounts in order to avail of the vast benefits that Dubai forex brokers can give, primarily because the UAE does not charge taxes from forex trading profits.

Top Brokers That Accept Dubai Clients

Broker
Rating
Regulated
Min. Deposit
Demo
Max. Leverage
1.
easyMarkets

CySec, ASIC, BVI

Min $100 Deposit

1:30

Review » Visit » Visit
Terms & conditions apply
Your capital is at risk.
2.
LegacyFX

CySEC, VFSC, NBRB, FCA

Min $250 Deposit

1:200

Review » Visit » Visit
Terms & conditions apply
Your capital is at risk.
3.
FXCC

CySEC, FCA

Min $100 Deposit

1:500

Review » Visit » Visit
Terms & conditions apply
Your capital is at risk.
4.
Admiral Markets

FCA, CySEC, ASIC

Min $100 Deposit

1:500

Review » Visit » Visit
Terms & conditions apply
Risk warning: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Before using Admiral Markets UK Ltd, Admiral Markets Cyprus Ltd, Admiral Markets AS Jordan Ltd or Admiral Markets Pty Ltd services, please acknowledge all of the risks associated with trading.
5.
Deriv

VFSC, FSC, IBFC

Min $5 Deposit

1 000:1

Review » Visit » Visit
Terms & conditions apply
CFDs are considered complex derivatives and may not be suitable for retail clients. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The products mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
6.
ActivTrades

FCA

Min $100 Deposit

50:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
7.
Vantage FX

FCA, ASIC, CIMA, SIBL

Min $200 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
8.
XM Broker

ASIC, IFSC, DFSA, CySEC

Min $5 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.28% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
9.
Blackbull Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
10.
Fusion Markets

ASIC, VFSC

Min $100 Deposit

500:1

Review » Visit » Visit
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What to Look for in a Forex Broker

By nature, forex trading is a very risky business, not only in Dubai but in any other place in the world. For this reason, it is extremely important to consider your options very carefully when picking from the best Dubai forex brokers so as to minimize the risks and to get the most profits out of your trades. Here are some of the most crucial factors at which you should take a look.

Trustworthiness and Security

The best way to determine whether a broker is trustworthy or not is by checking their regulation. If they are licensed under the top forex regulatory bodies in the world, then that would be a good indication that you can trust them and that your funds and transactions would be safe under them.

Fund Transfer Methods

Ease of transferring funds is crucial especially during crunch time. You don’t want to look at precious minutes of trading time because the transfer is taking too long.

Fees and Commissions

Naturally, you want to save as much as you can on fees and pour your funds on your actual trades instead. Compare the spreads and fees charged by each broker to find out the most competitive one.

Customer Support

Having 24/7 customer support is very helpful especially if you encounter crucial problems outside of office hours. Dubai forex brokers have customer support in both Arabic and English but if you need a different language, you should check this before signing up with them.

5 Best Dubai Forex Brokers Reviewed

All of the Dubai forex brokers that we are recommending are duly licensed under the DFSA, but many of them are also regulated under some of the other top-tier forex regulatory bodies in other countries, which further increases their trustworthiness and reliability.

eToro

eToro Logo

Rated by experts as the best social trading platform in Dubai for 2021, eToro has consistently shown the best performance when it comes to copy trading. With more than 56 currency pairs to choose from and a minimum deposit requirement of only $50, it is certainly the most highly recommended broker for forex newcomers.

eToro has been around since 2007 and has since grown into one of the favorite brokers in international forex trading. They are known for their hassle-free fund transfers and very easy to use trading platforms, both on the web and on mobile. Aside from the DFSA, eToro is also regulated by CySEC, FCA, and ASIC.

eToro Logo

Min $200 Deposit

Regulated By: FCA, ASIC, CySEC

Foundation Year: 2006

Headquarters: London, ‎United Kningdom


Terms & conditions apply
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

XM

XM.com Logo

The standout feature of XM is their very competitive spreads that start at 0 pips and generous leverage of as much as 888:1. This makes them one of the most desirable Dubai forex brokers for traders in the country. XM offers a swap-free Islamic account and international quality Arabic and English support, as well as more than 20 other languages

The minimum deposit at XM is only $5 and they also offer competitive bonuses for subscribers. Forex traders will have more than 56 currency pairs to choose from, which they can buy and sell on feature-rich MT4 and MT5 trading platforms. XM is regulated by FCA, CySEC and ASIC.

XM.com Logo

Min $5 Deposit

Regulated By: ASIC, IFSC, DFSA, CySEC

Foundation Year: 2009

Headquarters: Limassol, Cyprus


Terms & conditions apply
Risk Warning: Forex and CFD trading involves a significant risk to your invested capital.

OANDA

OANDA Logo

OANDA is a non-dealing desk broker, which translates to faster trade executions and less hassle for the trader. They offer more than 45 currency pairs to their traders at very competitive spreads that start at 1 pip. They also offer high leverage of up to 200.

OANDA is definitely one of the most trustworthy Dubai forex brokers, being regulated in more than 6 jurisdictions in different countries, including the US, Canada, the UK, Singapore, Australia and Japan.

OANDA Logo

Min $0 Deposit

Regulated By: ASIC, IIROC, JFSA, MAS, FCA, CFTC

Foundation Year: 1995

Headquarters: New York, United States


Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Pepperstone

Pepperstone Logo

Consistently touted as one of the best Dubai forex brokers across the different areas of brokerage, Pepperstone has more than 80 currency pairs, very competitive spreads starting at 0.0 pips, and multiple deposit and withdrawal options. They certainly have an Islamic account and excellent customer support in Arabic and English, plus a support team that is actually based in the UAE. The minimum deposit is somewhat higher than the others at $200.

XTB

XTB Logo

Another standout DFSA-regulated broker, XTB only requires traders to deposit $1 to begin trading. Spreads across the more than 49 currency pairs that they offer are all very competitive. In addition to DFSA, XTB is also regulated by the FCA of the UK and FSCA of South Africa. They are notable for being one of the fastest Dubai forex brokers when it comes to trade execution, and they also have a superior demo account with 10,000 virtual dollars that you can use for practice.

XTB Logo

Min Deposit: N/A

Regulated By: FCA, CySEC, CNMV, KNF, IFSC

Foundation Year: 2002

Headquarters: Poland


Terms & conditions apply
77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Conclusion

As one of the more active countries in the business of forex trading, Dubai certainly has its share of really good forex brokers that investors like you can choose from. But if you want to maximize your chances of trading successfully, it is strongly advised that you choose only from the top Dubai forex brokers. By making the right choice and practicing solid trading skills, you can definitely have a very profitable forex trading experience.

Before forex brokers can accept the United Arab Emirates based cleints, they must become authorised by THE INDEPENDENT REGULATOR OF FINANCIAL SERVICES(DFSA) and the Securities and Commodities Authority(SCA) United Arab Emirates financial regulatory body. We recommend United Arab Emirates traders to follow the SCA twitter page, @sca_uae to stay updated. Also check out the SCA webpage on Wikipedia.

FAQs About Dubai Forex Brokers

Forex trading in Dubai comes with a lot of benefits and opportunities. Before you start buying and selling though, here are the answers to some of the questions that may be in your mind as you contemplate this exciting financial venture.

Is forex trading legal in Dubai?

It is perfectly legal to trade forex in all the emirates of the UAE, which includes Dubai.

Who regulates the activities of Dubai forex brokers?

The Dubai Financial Services Authority or DFSA is the primary regulatory body for all forex trading within the Dubai International Financial Centre or DIFC. Outside this economic zone, forex trading is regulated by the UAE’s Securities and Commodities Authority.

Is it necessary for Dubai forex brokers to be licensed under the DFSA?

Traders in Dubai can only buy and sell foreign currencies in the country under a DFSA regulated broker. Therefore, brokers need to secure their license if they wish to operate properly in Dubai.

Are forex profits in Dubai taxable?

The United Arab Emirates currently does not charge any taxes on profits from online trading, which includes forex trading.

When can you trade forex in Dubai?

Dubai has an open forex market during the weekdays. Thus, Dubai forex brokers are always available to provide service to traders 24 hours 5 days a week.

About James Johnson
About James Johnson

Expert in Economics, Trading, Investments and Personal Finance. Graduated in 2001 in Business Economics and Management at Harvard University. After several years of working in the foreign exchange trading industry, I co-founded Forex Online Brokers in 2015 with the aim of distributing my personal knowledge and professional experiences in the field of trading and investments in general.