Best Forex Brokers UAE & Dubai

Last Updated December 1st 2022
20 Min Read

Forex is one of the most liquid markets in the world. More than $1 trillion is traded every day. But while forex is a liquid and profitable market to be in, a lot depends on the broker you use. 

It would help if you had a broker with the tools to aid your decision-making and one that executes your trade fast. 

This article looks at the best forex brokers in UAE & Dubai for 2023. This article will also teach you how to create a forex account and start trading. 

The Top 9 Forex Brokers In The UAE & Dubai

While many forex brokers serve the UAE market, below are some of the best. 

  • eToro  The undisputed top forex broker in the UAE
  • AxiTrader  A top forex broker with zero deposit and withdrawal fees
  • EightCap  A regulated broker with low trading fees
  • VT Markets  Easy-to-use broker that is perfect for both newbies and pro-traders
  • Interactive Brokers  A globally renowned broker that has low spreads
  • Libertex  One Of The lowest cost brokers for trading forex
  • Pepperstone   Forex Broker That caters to both newbies and pro traders
  • XM  Broker that allows high-margin trading for potentially high ROI
  • HotForex  One of the most popular forex brokers to use in Dubai

 

trade forex

81% 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.

An In-depth Look At The Top Forex Brokers In UAE

This section looks closely at the top forex brokers in Dubai. The analysis focuses heavily on the broker's number of tradable assets, its trading fees, core features to aid in trading, and regulations. 

Ready? Let's get started. 

1. eToro – The undisputed top forex broker in the UAE

etoro forex broker

eToro is the world's leading social trading platform, allowing investors to trade various assets, including forex, stocks, commodities, and more. The eToro platform is available on both desktop and mobile, making it convenient for those who prefer to trade on the go. The eToro app is also one of the most user-friendly trading apps available, with a simple interface that makes it easy to monitor your portfolios and make trades. In addition, the app offers a variety of features, including live market data, price alerts, and push notifications. Whether you're a seasoned trader or just starting out, eToro is the perfect platform for all your trading needs.

You can also invest in cryptocurrencies through the eToro app. eToro provides a simple and convenient way for users to gain exposure to the crypto market. 

In addition, eToro offers a unique CopyTrading feature that automatically allows users to copy the trades of more experienced investors. This makes it an ideal platform for those new to investing in forex. 

Regarding forex trading platforms, eToro is one of the most regulated. It holds licenses from the FCA, SEC, ASIC, and CySEC. This regulatory oversight provides traders with peace of mind knowing that their trades are being conducted on a platform that adheres to strict financial standards. In addition, eToro's regulation ensures that client funds are segregated and protected. Overall, eToro's regulation helps to create a safe and secure environment for forex trading.

eToro also stands out as a top broker in thas the best forex broker in the UAE because it offers an Islamic account option for its Muslim clients. This is a major factor in the company's popularity in the United Arab Emirates, where Islam is the official religion. The Islamic account complies with Sharia law, prohibiting charging or paying interest. This makes it an attractive option for Muslim traders who want to avoid violating their religious beliefs. In addition, the account offers other features that are appealing to Muslim customers, such as no-fee withdrawals and a dedicated customer support team. eToro's commitment to meeting its Muslim clients' needs has helped it become one of the most popular online trading platforms in the UAE.

On top of that, eToro has something to offer everyone, regardless of their experience level. For beginners, the platform is easy to use and provides a wide variety of educational resources. Experienced traders will appreciate the low fees and full range of trading features. eToro also offers unique social features that allow users to follow other traders and copy their trades. Whether you're just starting in the world of investing or a seasoned pro, eToro is sure to have something for you.

Regarding forex trading, eToro offers one of the most comprehensive platforms available. With over 50 different currency pairs to choose from, all spread-only, eToro provides traders a huge amount of choice and flexibility. The starting spread from just 1 pip means that users can get started with very low costs, and the wide range of pairs available means that there is something to suit everyone. Whether you are looking to trade the major currencies or something more exotic, eToro has you covered.

eToro is also a popular forex broker because it allows retail clients to use the leverage of up to 1:30. For every $1 you invest, you can trade up to $30. This can significantly magnify your gains, even on a small investment. For example, if the market moves in your favor by 10%, you would make a return of $3 on your investment, compared to just $1 if you were trading without leverage. Of course, leverage also magnifies losses, so it is important to use it carefully. However, used wisely, leverage can be a powerful tool to help increase your returns.

For many people, investing in the financial markets can be daunting. There are so many options to choose from, and it can take time to figure out where to start. eToro is a company that offers a solution to this problem with its premium portfolio management product. Customers can diversify their investments into multiple stocks, forex pairs, and cryptocurrencies with a single click. This helps reduce risk and can lead to higher returns. The product also offers real-time market data and analysis and 24/7 customer support. 

eToro is also a popular forex broker in Dubai because it has a comprehensive set of tools to aid the trader. For example, you can set up price alerts to notify you when a particular asset reaches a certain price or access market updates and news feeds to stay up-to-date with the latest developments. Additionally, eToro provides access to in-depth charts that allow you to track your progress and performance over time. These tools come standard with an eToro account, making it a great platform for new and experienced traders.

Lastly, eToro is a popular forex broker in Dubai because of its low deposit minimums. With just $50, you can start trading forex on eToro in the UAE. 

To get started on eToro, create an account and make a deposit. Once your deposit has been processed, you can begin trading immediately. eToro offers a variety of payment methods, including credit/debit cards, bank transfers, PayPal, Skrill, and Neteller. Withdrawals are typically processed within 1-2 business days.

  • Tradable Assets 40+
  • Trading Commissions 0%
  • Spreads — Starts at 1 pip
  • Minimum Deposit — $50
  • Highlight Features Easy account opening, Copy trading, Low minimum deposit

trade forex

81% 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.

 

2. AxiTrader – A top forex broker with zero deposit and withdrawal fees.

AXI Trader forex broker

AxiTrader must be among the best forex brokers in the UAE for its low costs. One thing that puts AxiTrader among the best is that it is regulated. Axi is regulated by some of the best regulators in the world. In the UK, Axi is regulated by the Financial Conduct Authority (FCA). In Australia, Axi is regulated by the Australian Securities and Investments Commission (ASIC). And in Dubai, Axi is regulated by the Dubai Financial Services Authority (DFSA). These financial authorities ensure that Axi operates fairly, transparently, and compliantly. They also have the power to take action against Axi if they believe the company has breached any of their rules or regulations. As a result, Axi's customers can be confident that they are dealing with a reputable company.

When it comes to finding a broker that meets your needs, there are a lot of factors to consider. Fees are always an important consideration, and you'll want to ensure you're getting good value for your money. With Axi, you can rest assured that you're getting some of the lowest fees in the market. In addition, all deposits and withdrawals are free of charge. That means more money stays in your account, and you don't have to worry about any hidden costs. 

  • Tradable Assets A dozen plus
  • Trading Commissions From $3.5 per lot
  • Spreads — Starts at 0.1 pips
  • Minimum Deposit — No minimum
  • Highlight Features No minimum deposit, Easy to open an account, Low trading fees

trade forex

82.4% 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.

 

3. EightCap – A regulated broker with low trading fees. 

EightCap forex broker

Regarding forex fees, EightCap is one of the best brokers in the UAE. With a low commission of just 0.03% per side, EightCap lets you trade confidently knowing that you're not going to be nickel-and-dimed with hidden fees. What's more, there's no minimum deposit required to open an account, so you can start trading with as little or as much as you like. And if you need help along the way, EightCap's customer service team is available 24/7. EightCap is an excellent choice for forex trading in the UAE, whether you're a beginner or a seasoned pro.

Traders also love EightCap because opening an account is so easy that anyone can do. The first step is to visit the EightCap website and click on the "Open an Account" button. From there, you will be asked to provide some personal information, such as your name, address, and date of birth. You will also need to create a username and password. Once you have completed all the required fields, you can review the terms and conditions and submit your application. Within a few minutes, you will receive an email confirming that your account has been opened and that you are ready to start trading. EightCap makes it easy to start online trading, and its simple account opening process is just one more example of this commitment to customer satisfaction.

Another reason EightCap is a popular forex broker in the UAE is its regulation. EightCap is regulated by the Australian Securities and Investments Commission (ASIC). ASIC is a highly respected regulator that imposes strict requirements on its members, including financial stability requirements and the segregation of client funds. EightCap is also a member of the Financial Ombudsman Service (FOS), which provides dispute resolution services for customers of financial services providers. If you have a complaint about EightCap, you can complain to FOS, and they will investigate it on your behalf. Overall, these facts show that EightCap is a safe and reliable broker for forex trading.

  • Tradable Assets 20+
  • Trading Commissions Raw $3.5, Standard 0%
  • Spreads — Starts at 0.8 pips
  • Minimum Deposit — $100
  • Highlight Features Low trading fees, Free deposits, Easy account opening

trade forex

74-89% 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.

 

4. VT Markets – Easy-to-use broker that is perfect for both newbies and pro-traders. 

VT Markets forex broker

VT Markets is a popular forex broker in the United Arab Emirates, offering a range of account types to suit different traders. One of the company's key selling points is its Islamic Accounts, which are designed to comply with Shariah law. This means that no interest is charged on trades, and all transactions are made on a spot basis. VT Markets also offers a range of other features and benefits, such as low spreads, fast execution speeds, and a user-friendly trading platform. As a result, it is no surprise that the company has become one of the leading forex brokers in the UAE.

VT Markets also offers its traders bonuses and other attractive incentives. It is also one of the safest forex brokers in the UAE. That's because it is licensed and regulated by the Dubai Financial Services Authority (DFSA), making it a safe and reliable choice for online forex trading. In addition, VT Markets provides its clients access a wide range of currency pairs, CFDs, and other financial instruments. The company's trading platforms are also user-friendly and offer advanced features such as charting and analysis tools. VT Markets is a great option for those looking for a reputable forex broker in Dubai.

Newbie traders also love VT Markets due to its link-up with Zulu Trader. For those unfamiliar with the term, Zulu Trader simply refers to the ability to copy the trades of other successful traders on the VT Markets platform. This can be a great way to learn from more experienced traders and potentially generate profits without researching yourself. Of course, it is also important to remember that copy trading is not a guaranteed way to make money, and you could still end up losing money if the trader you copy is unsuccessful. However, VT Markets offers several tools and resources to help you choose which trader to copy, and you can always stop copying a trader at any time if you are not happy with their performance. Ultimately, copy trading can be a great way to get started in online trading or to diversify your existing portfolio.

  • Tradable Assets 230+
  • Trading Commissions Starts at 0 to $3 depending on account type
  • Spreads — Starts at 1.2 pips
  • Minimum Deposit — $200
  • Highlight Features Low spreads, Many tradable assets, Worldclass customer service

trade forex

74-89% 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.

 

5. Interactive Brokers – A globally renowned broker that has low spreads.

Interactive Brokers

Interactive Brokers easily ranks among the best forex brokers in Dubai for its wide range of tradable assets. With Interactive Brokers, you can trade in more than 100 forex pairs, amongst a host of other assets such as stocks and commodities.  

One of the main attractions of the platform is its deep liquidity, thanks to interconnectivity with different FX dealers. This means that users can trade currency pairs with confidence, knowing that they can execute their trades quickly and at favorable prices. In addition, the platform provides various tools and resources that traders can use to map out their strategies and track their progress. As a result, Interactive Brokers is an ideal choice for those who want to make the most of the forex market.

Interactive Brokers is also popular for the wide array of trading tools that it gives to investors. For instance, the up and down indicators are beneficial in identifying trend reversals, while the average price trends can give you a good sense of where the market is headed. Whether you're looking for a simple way to enter and exit trades or a more complex system for managing your positions, Interactive Brokers has the tools you need to succeed in the forex market.

Interactive Brokers is also known for its low commissions, which start at just 0.08 basis points. In addition to commission-free trades, Interactive Brokers also offers several other advantages, including low spreads, no hidden fees, and advanced trading technology. For example, the company's flagship platform, Trader Workstation, provides real-time market data and news and powerful tools for charting and analysis. Interactive Brokers also offers mobile trading apps for iPhone, iPad, and Android devices. Whether you're a casual investor or a professional trader, Interactive Brokers has the tools and resources you need to succeed.

  • Tradable Assets 230+
  • Trading Commissions Starts at 0 to $3 depending on account type
  • Spreads — Starts at 1.2 pips
  • Minimum Deposit — $200
  • Highlight Features Low spreads, Many tradable assets, Worldclass customer service

trade forex

81% 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.

 

6. Libertex – One of the lowest cost brokers for trading forex

Libertex

Libertex is a leading financial market scene provider in operation since 1997. The company offers a wide range of services, including forex, stocks, cryptocurrencies, indices, commodities like gold, oil and gas, and even agricultural products. Libertex is committed to providing its clients with the best possible service and innovative technology. The company has a team of experts who are always ready to help clients achieve their financial goals. Libertex is regulated by the Financial Conduct Authority (FCA) and is a member of the Investor Compensation Fund (ICF).

When it comes to trading forex, there is a lot to consider. From charting trends to understanding news reports, successful traders need a well-rounded understanding of the market. That's where Libertex comes in. Customers of Libertex have several tools at their disposal to help them devise their trading strategy. Among the tools that Libertex provides include: For instance, trading signals, up-to-date news, and of course, chart tools for customized entry and exit points. With all of these resources, traders can develop a comprehensive understanding of the market and make informed decisions about their trades. As a result, Libertex is a valuable resource for anyone looking to get serious about forex trading.

For many people, the appeal of online trading is the opportunity to make money quickly and easily. However, one of the downsides of online trading is the fees that are often charged for deposits and withdrawals. These fees can eat into profits and make it difficult to profit. Libertex is one of the few online brokers that offer zero-fee bank deposits. Customers can add money to their Libertex account without incurring any charges. The trade-off is that bank transfers can take two to five days to process, so customers need to be willing to wait for their deposit to clear. However, for those looking to trade without incurring any fees, Libertex is an excellent option. For those who don't care about fees and want to take advantage of trading opportunities fast, Libertex has several other deposit and withdrawal methods ranging from debit cards to e-wallets like PayPal and Skrill. 

When it comes to trading fees, Libertex does not charge a spread. Instead, it has a floating commission that changes with prevailing market conditions. This can be an advantage for traders who are looking to trade in stable markets, as the fees will be lower when markets are more stable. However, it is essential to note that the floating commission can also increase when markets are more volatile, so traders need to be aware of this before they open a position. Overall, Libertex is a competitive option for traders who are looking for low trading fees.

With Libertex, you can use high leverage when trading forex pairs via the MT4 platform. Leverage allows you to trade with more money than you have in your account, magnifying both your profits and losses. With a maximum leverage of 1:1000, Libertex allows you to trade with a much larger position than with other brokers. However, it's important to remember that high leverage comes with high risk, and you should only use it if you are confident in managing your trades effectively. If you're new to forex trading, or if you're not comfortable with using high leverage, it's best to stick with a lower ratio.

Another key feature that makes Libertex stand out from the crowd is its strong support team. The team is highly responsive and always available to help with any questions or concerns that users may have. In addition, the team is also very knowledgeable about the platform and its functions. As a result, users can be confident that they will receive the best possible service when needed.

For anyone just getting started in the world of online trading, Libertex is a great option. The platform is designed to be user-friendly and features a minimum deposit of just $25. This makes it accessible to a wide range of traders, and the low entry barrier means you can start trading with a small amount of capital. In addition, Libertex offers a demo account to practice trading without risking any real money. With all these features, Libertex is an excellent choice for beginner traders.

  • Tradable Assets 50+
  • Trading Commissions From 0.03% per trade
  • Spreads — 0.0 pips
  • Minimum Deposit — $20 (approximately 75 AED)
  • Highlight Features Access to MT4, MT5, over 50+ forex pairs, trading signals, and ideas

trade forex

81% 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.



7. Pepperstone – Forex brokers that cater to both newbies and pro traders.

trading on pepperstone

Pepperstone is one of the most respected forex brokers globally. As such, it cannot miss among the best forex brokers in the UAE. One of the best aspects to Pepperstone is that it is a regulated broker. Pepperstone is regulated by several financial authorities, including the Dubai Financial Services Authority (DFSA), the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, and the Seychelles Financial Services Authority (SCB). This regulatory oversight provides traders with peace of mind that their funds are safe and will be treated fairly. In addition, Pepperstone offers a wide range of trading products and services, making it a good choice for both beginner and experienced traders.

One of the things that makes Pepperstone such an attractive option for forex traders is that they support various trading platforms. In addition to the popular MT4 platform, they also offer support for the MT5 and CTrader platforms. This means that regardless of your preferred trading style or strategy, you'll be able to find a platform that's a good fit for you. And, if you ever decide to switch to a different platform, you won't have to open a new account – you can transfer your existing account over. This flexibility is one of the many things that sets Pepperstone apart from other forex brokers.

Concerning forex trading, Pepperstone gives you more choices than most other brokers. With over 60 currency pairs, among them 14 forex majors, you'll have no trouble finding the perfect pair to trade. And with Pepperstone's advanced trading platform and competitive spreads, you can trade confidently, knowing that you're getting the best possible value. 

Anyone who has ever traded knows that the markets can be volatile and unpredictable. As a result, even the most experienced traders can benefit from regular market analysis and insights. That's where Pepperstone comes in. By sending market analysis to its users regularly, Pepperstone helps traders stay ahead of the curve and make better trading decisions, regardless of market conditions. In addition, Pepperstone's market analysis is renowned for its accuracy and comprehensiveness. As a result, traders who use Pepperstone's market analysis can have confidence in their trading decisions.

Pepperstone is also popular among traders for its tailor-made accounts for different trading needs. Pepperstone offers its traders two types of accounts: the razor account and the standard one. The main difference between the two is the fees charged. The razor account has lower fees for spreads and commissions but charges a small fee for every trade that is made. The standard account has higher fees for spreads and commissions but does not charge any additional fees per trade. So, which type of account is right for you? It depends on your trading style and strategy. If you make many trades, the razor account will likely save you money in fees. However, the standard account may be a better option if you only make a few trades each month. Ultimately, it is up to each individual trader to decide which type of account best suits their needs.

Pepperstone is also one of the top forex brokers in Dubai, giving customers multiple options for deposits and withdrawals. Pepperstone offers its customers a variety of ways to deposit funds into their accounts, including Visa, Mastercard, and bank transfer. Each method has its own advantages and disadvantages, so choosing the one that best suits your needs is essential. For example, bank transfer is often the most convenient option for those with a bank account. However, it can take a few days for the funds to clear, so if you need access to your money immediately, there may be better choices.

On the other hand, credit cards are a good option for those who want instant access to their funds. However, there is usually a fee associated with this type of transaction. Ultimately, the best way to deposit funds into your Pepperstone account is the one that works best for you.

  • Tradable Assets 60+
  • Trading Commissions From $0.04  per trade
  • Spreads — 0.0 pips for razor, 0.6 pips for standard
  • Minimum Deposit — $0
  • Highlight Features Access to MT4, MT5, CTrader, direct market research updates, spread-free accounts

trade forex

81% 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.

 

8. XM – Broker that allows high-margin trading for potentially high ROI

XM broker

XM is, without a doubt one of the best forex brokers in the UAE. XM offers traders a comprehensive range of services for both beginner and experienced traders. One of the major benefits of trading with XM is the variety of currency pairs on offer. With more than 50 forex pairs on XM, traders have plenty of choices when finding the right market to trade. In addition, XM offers leverage that goes as high as 1:1000. This means traders can make large trades with a small amount of capital. It also makes XM an ideal choice for those seeking to maximize profits. Overall, it is clear that XM is one of the best forex brokers in the UAE and is worth considering if you are looking to start trading in the forex market.

XM is also one of the most popular forex brokers in the UAE for its low trading costs. If you're looking for a zero-commission forex broker that offers competitive spreads, XM is worth considering. They offer some of the tightest spreads in the market, starting at just 0.8 pips on EUR/USD. Moreover, they don't charge any hidden fees or commissions, so you know exactly how much you're paying. This makes it easy to compare their rates with other brokers. XM also offers a variety of account types to suit different trading styles, and their customer service is excellent. 

Another reason why XM is one of the best forex brokers in the UAE is that it offers an Islamic account. This account type is designed for people of the Muslim faith, and it comes with swap-free status. This means that no interest is charged on overnight positions, following Sharia law. As a result, XM's Islamic account is a popular choice for Muslim traders who want to trade without violating their religious beliefs. In addition to providing swap-free status, XM's Islamic account also offers several other benefits, including low spreads and leverage of up to 1:500. With such benefits, it is clear to see why XM's Islamic account is such a popular choice for Muslim traders in Dubai.

When it comes to forex trading, knowledge is power. Access to accurate and up-to-date market research can give you a considerable advantage in the forex market. XM offers free access to various market research tools, including expert webinars, high-potential trading signals, and more. With XM, you'll have everything you need to make informed decisions about your trades. 

One of the main attractions of XM is their very low minimum deposit of just $5. This makes XM an attractive option for those new to online trading or who need more capital to invest. In addition to their low minimum deposit, XM offers a free demo account so traders can practice trading without risking any real money. And, if you're ready to start trading for real, XM offers incredibly tight spreads on major currency pairs, making them one of the most competitive brokers in the forex market. 

  • Tradable Assets 55+
  • Trading Commissions 0% commission
  • Spreads — From 0.6 pips for standard
  • Minimum Deposit — $5
  • Highlight Features Islamic account, forex trading signals, leverage of 1:1000

trade forex

81% 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.



9. HotForex – One of the most popular forex brokers to use in Dubai.

HotForex

HotForex is a top forex broker in Dubai that is regulated by the Dubai Financial Services Authority (DFSA). The DFSA is a world-renowned regulatory body, and its licensing ensures that HotForex adheres to the highest standards of financial conduct. In addition to the DFSA, HotForex is also regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Financial Sector Conduct Authority (FSCA) in South Africa. It is also regulated by the Financial Services Authority (FSA) in Seychelles. These regulatory licenses provide peace of mind to HotForex clients, knowing their funds are held with a reputable and well-regulated company. With its commitment to safety and security, HotForex is a great choice for forex trading in Dubai.

Most forex brokers offer a limited selection of major currency pairs, with some also offering a handful of minors and exotics. HotForex goes above and beyond in this regard, listing over 50 different forex pairs. This gives traders a wide range of options when selecting which currencies to trade. In addition, HotForex offers leverage of up to 1:1000 on currency trades. This high level of leverage can benefit experienced traders looking to make large profits on small price movements. However, it is important to note that leverage can also increase losses, so it should be used cautiously. Overall, HotForex provides an impressive array of forex pairs and features that make it an ideal choice for both beginners and experienced traders alike.

HotForex also offers some of the industry's lowest spreads, which can go as low as 0.1 pip. This makes HotForex an ideal broker for scalpers and day traders who look to take advantage of small market movements. In addition to their low spreads, HotForex also offers several other perks, such as negative balance protection and flexible leverage of up to 1:500. With all these features, it's no wonder that HotForex has won numerous industry awards.

As a leading global forex broker, HotForex offers its clients a wide range of payment methods to fund their trading accounts. Whether you're looking to deposit via bank transfer, credit/debit card, or one of the many popular e-wallets, HotForex has you covered. Best of all, the broker charges no deposit fees on any of these methods. This makes it easy and affordable to get started with HotForex trading. 

This makes it an ideal choice for both beginner and experienced traders alike. If you're looking for a broker that can provide you with a wide range of funding options and low costs, HotForex is worth considering.

One of the key advantages of HotForex is its low minimum deposit requirements. While the initial deposit is $200, you can deposit anything from $5. This makes HotForex an accessible option for experienced traders and those just starting out. 

In addition to its low deposit requirements, HotForex also offers a variety of account types, including micro, standard, and VIP accounts. This allows traders to choose an account that best suits their needs. With its competitive pricing and comprehensive service offering, HotForex is an ideal choice for online trading.

As any trader knows, a good trading platform is essential for success. HotForex understands this, which is why they offer both MT4 and MT5 – the most popular platforms on the market. What's more, HotForex has made it easy to trade on the go, with mobile and desktop software that integrates seamlessly with the platform. And there's even an iPad app for those times when you can't be at your computer. So, whether at home or on the go, HotForex has you covered.

  • Tradable Assets 50+
  • Trading Commissions 0% commission
  • Spreads — $0.03 per 1K lot
  • Minimum Deposit — $200
  • Highlight Features Access to MT4 and MT5, 15 deposit methods, low spreads

trade forex

81% 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.

 

A Comparison Of The Best Forex Brokers In The UAE

Go through the table below to better understand how the different UAE forex brokers fare against one another. 

Forex Brokers Trading Pairs Commission Spread for EUR/USD Minimum Deposit Highlight Features
eToro 49 None 1 pip $50 (around 185 AED) Copy trading, access high leverage of 1:30, Islamic account
Axi Trader 10+ From $3.5 per lot 0.1 pips None No minimum deposit, Easy to open an account, Low trading fees
EightCap 20+ Raw $3.5, Standard 0% 0.8 pips $100 Low trading fees, Free deposits, Easy account opening
VT Markets 230+ Starts at 0 to $3 depending on account type 1.2 pips $200 Low spreads, Many tradable assets, Worldclass customer service
Libertex Over 50 From 0.03% per trade 0.0 pips $20 (approximately 75 AED) Access to MT4, MT5, over 50+ forex pairs, trading signals, and ideas
Pepperstone 60+ From $0.04 per slide 0.0 pips for razor accounts, from 0.6 pips for standard accounts $0, recommended minimum is around 500 AED Access to MT4, MT5, CTrader, direct market research updates, spread-free accounts
XM 55+ 0% commission From 0.6 pips $5 (around 20 AED) Islamic account, forex trading signals, leverage of 1:1000
HotForex 50+ 0% commission $0.03 per 1K lot $200 (around 750AED) opening deposit Access to MT4 and MT5, 15 deposit methods, low spread
Interactive Brokers 100+ 0% commission From 0.08 bps (basis points) $100 (around 360 AED) High liquidity, no spread, advanced FXTrader platform

 

trade forex

81% 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.

How To Choose The Best Forex Broker UAE

Choosing a forex broker that meets your needs takes work. Luckily you have to the right place. Besides the brokers we have analyzed above, let's now look at the steps you can follow to find the top forex broker in the UAE. 

Make sure it is regulated

Check out the regulations when looking for the best forex broker in the UAE. Make sure the DFSC, the FSRA or any major international body such as the SEC regulates the broker you use.

On this metric, eToro easily stands out as the best broker in the UAE. It is regulated by multiple bodies internationally.

Pay attention to the fees

All the top forex brokers in the UAE charge a fee in some way. You must find one with the lowest fees in the market. When deciding which forex broker to use, comparing commissions and spreads is important. Some forex brokers charge a commission, a percentage of the trade value, while others have a spread-only fee. 

The spread is the difference in the bid and ask price of the currency pair. The bid price is the price at which the broker is willing to buy the currency, while the asking price is the price at which the broker is willing to sell it. The spread can be either fixed or variable. A fixed spread means that the spread will be the same regardless of market conditions, while a variable spread will fluctuate in response to market conditions. A commission is more expensive than a spread, but it also offers protection against sudden market movements.

Available trading pairs

When it comes to Forex trading, the currency pairs that a broker offers can make all the difference. To get the most out of your trading, you need to be able to access a wide range of currencies. This will allow you to take advantage of opportunities and diversify your portfolio. When choosing a top Forex broker in the UAE, check the available currency pairs list. The more options that are available, the better. With a wide selection of currencies at your disposal, you'll be able to make the most of every trading opportunity.

Market analysis tools the broker offers

The best forex brokers in the UAE all have in-depth market analysis tools for their customers. For instance, eToro, one of the best brokers in the UAE, has a wide array of trading tools that traders can use to their advantage. 

Check out the minimum deposit amount

The overall best forex brokers in the UAE have a very low barrier to entry. This allows traders to experiment before making a big investment based on an already proven strategy.

Customer service

When looking for the best forex broker in Dubai and the wider UAE, check out the customer service. The more easily accessible the customer service is, the better, especially when you face trading issues.

How to trade forex in the UAE – A beginner's guide

Here is a simplified guide to creating an account with eToro – the top forex broker in the UAE. 

Step 1: Create an account

Visit the eToro website and click on signup. Then follow the instructions. Once your account is open, you will be asked to verify it, by uploading your photo and ID. 

Step 2: Fund your account

Once your account has been created, deposit money and start trading. It is as easy as that to become a forex trader on eToro.

Step 3: Start trading

Once your deposit lands in your account, look for a trading pair you like and start trading.

trade forex

81% 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.

Conclusion

From our analysis, while many good forex brokers in the UAE, eToro is the best. It is regulated, has a low deposit minimum, and has a lot of tools that are friendly to beginners and expert traders alike. 

eToro - The Best Trading Platform In UAE

etoro broker

start trading now

81% 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.

FAQs

Which is the best forex broker in the UAE?

While you can use many forex platforms, eToro is the best. It is regulated and has features that are easy to understand. 

How do you choose a good forex broker?

While there are many factors to consider, the most important one is regulation. Make sure the broker you are using is regulated.

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