Author:
Alexander Foster
Last Updated:
15/11/2022
Table of Content
- Who should make use of our forex trading Dubai comparison?
- Is online forex trading in Dubai legal?
- Top five steps for a secure and fair experience for forex trading in Dubai
- This is how our experts test the best forex brokers in Dubai
- Checklist: This is how you find your perfect forex broker in Dubai
- What else can you trade online in Dubai?
- Forex trading Dubai – The conclusion
- Best Forex Broker in Dubai FAQ
Who should make use of our forex trading Dubai comparison?
If you are at all interested in finding a forex broker in Dubai, or you simply want to find out more about trading forex in Dubai, then our comparison tool is for you. It doesn’t matter if you’re completely new to the subject and need a full introduction, or if you’re an experienced trader who’s looking to shake things up a bit. The primary purpose of the comparison tool here at TradersBest is to help you to find the best forex broker for you, no matter what your previous experience is.
How we can help beginner and advanced traders alike
As said above, our comparison tool can help you to find your ideal broker, regardless of your experience level or trading volume. For new traders, this comparison tool will help you get to grips with forex trading and the basics of doing it online in Dubai. Then, we will help you to find the right newcomer platform for you, that’s complete with demo accounts and an easy-to-use trading platform. Additionally, we are also of the belief that a good forex trading platform for beginners should provide free tools and guides to help with your learning process.
When it comes to helping intermediate and advanced forex traders in Dubai, there are plenty of functions that our comparison tool serves. If you feel you have exhausted all of the available possibilities on your current platform and want to level up, then we can help you do just that. Or, if you just relocated to Dubai and are looking for the forex trading options here, our comparison tool contains reviews to help. Whatever it is that you might be looking for, we firmly believe that the best online trading platform is out there for you, and we’re 100% confident that we can help you find it.
Is online forex trading in Dubai legal?
Yes, forex trading in Dubai is completely legal, and there are many online forex brokers that are actually based in Dubai or elsewhere in the UAE. The Securities and Commodities Authority (SCA) is responsible for regulating all non-banking financial activities in Dubai and the rest of the UAE. Forex brokers based in Dubai must be registered in order to operate, even from within the Dubai International Financial Centre (DIFC), which is a financial free zone.
Contrary to popular belief, overseas forex brokers do not need to be authorised by the SCA in order to offer accounts to Dubai and UAE residents. However, it is strongly recommended that they do so, and we wouldn’t advise using a non-SCA-approved broker when trading in Dubai. Overall, Dubai is one of the main financial centres in the middle east, and the forex trading industry is very well-established and regulated. As a result, you have plenty of opportunities to trade forex in Dubai both safely and securely.
Top five steps for a secure and fair experience for forex trading in Dubai
Before you start trading forex in Dubai or elsewhere in the world, it’s important to take the necessary precautions to ensure that your experience will be both safe and fair. That’s why our team of trading experts has put together these five steps that, if followed, should help you to have the best possible experience.
This is how our experts test the best forex brokers in Dubai
All of the operators found within our forex broker list for Dubai have undergone a rigorous testing process at the hands of our experts. When it comes to testing brokers, there are multiple criteria that we consider, all of which contribute to our final ratings. Whether we’re looking for the best forex broker in the Philippines, Dubai, or elsewhere in the world, the process remains the same. Below, we’ve run you through the top criteria for testing brokers.
Usability
A broker is worth absolutely nothing if the website itself doesn’t function properly. The minimum requirement for a site is to be easy to use and navigate and to have a design that is easy on the eye. Messy websites that are confusing to the user just don’t wash with us.
Trading platforms
While the best forex platform in Dubai should suit users of all experience levels, we’re aware that different traders require different platforms. That’s why ideally we like to see brokers with a variety of different platforms to suit different types of traders and scenarios.
Account types
Traders come in all shapes and sizes, especially in terms of experience and trading volume. As a result, it’s important to us that the best forex broker in Dubai reflects this by having at least three different types of account available.
Payment options
In the modern era, there should be more than just one or two payment options available when making any online purchase or deposit. As well as bank cards, the modern broker should offer users the option to use e-wallets, ACH and more.
Customer support
Online live chats and email have become the two staple customer service channels today. Call us old fashion, but we still believe that the best forex broker in Dubai should still be reachable via phone. It’s also important to be able to locate the broker’s headquarters at a physical address.
Our recommended forex brokers in Dubai
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
All investments involve risks, including the possible loss of capital.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Checklist: This is how you find your perfect forex broker in Dubai
Whether you’re looking for the best forex platform worldwide, or right here in Dubai, our comparison tool can help. First of all, though, you need to help us to help you by figuring out what type of trader you are. That’s why our experts have created this checklist of questions to ask yourself before choosing a new broker for forex trading in Dubai.
What experience do you have?
No matter what type of trading or location we’re looking at, this is always the first thing that we advise our readers to consider. Some of the top-rated forex brokers might be too complex for beginners, while others might lack the features that an advanced trader needs.
What trading platform do you like?
This question is only really applicable if you have previous experience in trading forex. Some downloadable trading platforms, such as the MT4 and MT5 traders are available across multiple brokers and are extremely popular.
Do you like to trade on the move?
Traditionally, forex trading was done at the desk, but now many users are favouring trading apps. If you want to trade on the move, then you can use our comparison tool to find the best brokers with mobile trading apps.
What currencies do you want to trade?Â
Are you happy with just a small selection of the most commonly traded pairs, or do you want a wide selection that allows you to find some niche currencies? Either way, we’ve got a broker for you!
Do you travel a lot?
Many people based in Dubai often travel in and out of the country on a regular basis. If you fall into this camp, then we recommend choosing a broker from our comparison that’s available in multiple jurisdictions.
What else can you trade online in Dubai?
As you can imagine, most instruments and assets can be traded legally online in Dubai. When it comes to CFDs, platforms that are authorised by the CBUAE (Central Bank) can legally offer trading products in a massive selection of markets outwith forex. You can find the current top CFD broker list for the Dubai traders right here at TradersBest. Crypto trading is also legal in Dubai and is regulated by the recently-formed Dubai Virtual Assets Regulatory Authority (VARA).
Interactive Brokers Review
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Forex trading Dubai – The conclusion
The time has no almost come for you to go on ahead and start using our comparison tool to find the best forex broker in Dubai for you. Before you do so though, take the time to consider what type of trader you are, as that will help you to make better use of each forex broker review for Dubai that we have available here at TradersBest. Additionally, don’t forget to use our top five tips to have a fair and secure experience.
Best Forex Broker in Dubai FAQ
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