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Best Forex Broker UAE/Dubai | Top 5 Forex Trading Platforms Reviewed 2021


If you live in Dubai or anywhere else in UAE, you perhaps know that there is a huge variety of forex brokers nowadays. But, which one is the best one for you? In this article, we’ve done our due diligence to select the best forex trading platforms in UAE and Dubai and introduce you to the world of forex trading. The next sections break down several important concepts and help you choose the best forex trading platform for your needs.

#1 Forex Broker UAE – eToro

Best Forex Broker UAE – Our Top 5 Best UAE Forex Trading Platforms

Without further ado, here are our top five picks for the best forex brokers in UAE. We have selected them according to cost, features, and ease of use:

  • eToro – Best Overall Forex Broker UAE
  • AvaTrade – Best Forex Broker UAE for MT4 Trading
  • IG Markets – Best Forex Broker UAE for a Customizable Experience
  • FP Markets – Best Forex Broker UAE for Competitive Pricing
  • Plus500 – Best Forex Trading Platform UAE for Technical Traders

67% of retail investor accounts lose money when trading CFDs with this provider.

Best Forex Brokers UAE – In-Depth Reviews

In this section, we will dive deep into details and present you all the main aspects regarding each forex broker, why you may want to consider it for your forex trading needs, and how to benefit from its offerings.

3 Providers that match your filters

for $ 100 you get

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What we like

  • Trade real cryptos and crypto CFDs
  • Licensed broker with deposit insurance
  • Integrated wallet

for $100 you get

0.0019 BTC

CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

for $ 100 you get

0.0019BTC

What we like

  • Amount of withdrawal fee: $0
  • Large amount of cryptocurrencies for CFD trading
  • Minimum deposit: $20

for $100 you get

0.0019 BTC

CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

for $ 100 you get

0.0019BTC

What we like

  • Careful selection of cryptocurrencies
  • Regulated by CBI and MiFID in Europe
  • No commissions and low spreads

for $100 you get

0.0019 BTC

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

1. eToro – Best Overall Forex Broker UAE

eToro was established in 2007 in Tel Aviv, Israel. Since then, it has grown into one of the most popular brokers on a global level, providing a broad range of assets. As of this writing, eToro has 49 currency pairs available for trade, such as EURUSD, GBPUSD, but also minor pairs like NZDCAD and GBPAUD.

To start trading on eToro, you need at least US$50 – this is both the minimum deposit and the minimum amount required to trade forex. Buying and selling currencies on this trading platform is done via CFDs – which means that you don’t own the actual assets, but rather you use agreements based on the underlying asset (contracts-for-difference). These are a type of derivative that allows you to speculate on the price movement of different currencies and you can use up to 20x leverage.

eToro is popular due to its low-cost structure, too. There is no trading commission charged. However, in the case of trading forex, you should keep in mind that you need to cover the spread – this is a fee built into the price you will see on the trading platform and is as low as 1 pip (0.0001 units of a currency) for most popular currencies, and up to 20-50 pips for less popular pairs, such as USDTRY.

Also, eToro boasts social trading features. This means you can copy successful traders’ portfolios, invest in ready-made portfolios, and keep in touch with other users on the platform, similar to any other social media platform.

eToro Fees

Forex Pair Spread Amount 
EURUSD 1 Pip
USDJPY 1 Pip
GBPUSD 2 Pips
USDCHF 1.5 Pips
NZDUSD 2.5 Pips

 

Pros

  • Only $50 required to place forex orders
  • Up to 49 forex pairs, including majors, minors, and exotics
  • Other assets available, such as stocks and ETFs
  • Social trading features
  • Ready-made thematic portfolios

Cons

  • Experienced traders may prefer more tools and indicators
  • $1,000 minimum required to open an Islamic account

67% of retail investor accounts lose money when trading CFDs with this provider.

2. AvaTrade – Best Forex Broker UAE for MT4 Trading

If you want a forex broker that provides access to the world’s most famous forex trading platform, AvaTrade is perhaps the best choice. It is a trusted forex broker with a one-size-fits-all approach to forex trading. It has one of the most competitive trading platform offerings: apart from MetaTrader 4, you can also sign up with ZuluTrade and DupliTrade (for social copy trading), the proprietary platform known as AvaTrade WebTrader, the proprietary options platform known as AvaOptions, and the mobile trading platform AvaTradeGO.

The price is also highly competitive within the industry. For instance, the EURUSD pair comes with a spread of only 0.9 pip. However, some of the less popular pairs like EUR/ZAR or EURRUB come with quite high spreads of 90 or even 700 pips.

AvaTrade does not score very high on educational content, but the wide array of trading platforms does help to choose the best one according to your skills and knowledge.

The proprietary platform, AvaTrade web platform, comes with “Trading Central”, a section that features analyst views, market buzz, and an economic calendar. Depending on your chosen trading platform provided by AvaTrade, you have access to more or less trading tools and analysis features.

AvaTrade Fees

Forex Pair Spread Amount 
EURUSD 0.9 Pips
USDJPY 1.1 Pips
GBPUSD 1.6 Pips
USDCHF 1.6 Pips
NZDUSD 1.8 Pips

 

Pros

  • Multiple forex trading platforms available
  • Competitive cost structure
  • Ideal for both beginners and experienced traders
  • Multiple forex pairs to choose from
  • Great news section within its proprietary platform (Trading Central)

Cons

  • Lack of a robust educational section
  • 1-2 business days required to open an Islamic account

67% of retail investor accounts lose money when trading CFDs with this provider.

3. IG Markets – Best Forex Broker UAE for a Customizable Experience

IG Markets is a trusted global forex broker with about 20,000 CFDs and approximately 100 forex pairs, making for one of the broadest offerings on the market. Although there is no minimum deposit required for a bank transfer, other payment methods like cards require you to deposit at least US$300, which is significantly higher than the other brokers.

IG comes with a user-friendly proprietary trading platform. It boasts many practical features, endless trading tools,…



Read More : Best Forex Broker UAE/Dubai | Top 5 Forex Trading Platforms Reviewed 2021

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