What Are The Best DFSA Regulated Forex Brokers?

We recommend Pepperstone as the best DFSA-regulated broker overall based on its excellent selection of trading platforms, top execution speeds and extensive range of currency pairs and CFD products to trade.

We particularly like that Pepperstone offers a trading platform for virtually any trading style of experience level. Forex traders can access an upgraded MetaTrader 4 experience with the Smart Trader Tools add-on package. Algorithmic traders have the option to trade with cTrader. For advanced charting, there’s TradingView.

Pepperstone is our top pick for the best forex broker in UAE and is our highest-rated forex broker scoring an impressive 97/100 based on our testing methodology.

PEPPERSTONE HAS THE FASTEST EXECUTION SPEED

Of the DFSA-regulated brokers we tested, Pepperstone has the fastest execution speeds.

Using a third-party script on a demo account to test the average execution speeds, we found that Pepperstone finished 3rd overall (and 1st of the DFSA-regulated brokers) with an average limit-order execution speed of 77 ms, and a market order speed of 90 ms.

PEPPERSTONE HAS 0 PIPS SPREADS 100% OF THE TIME

We tested 15 brokers to find out how often spreads are 0 pips and were surprised to discover that when you exclude the rollover period, you have a high chance of getting a 0 pip trade for the most popular currency pairs. In our tests, Pepperstone has the closest spreads to zero more of the time than any other with this being just about 100% of the time.

LOW FEE TRADING ACCOUNTS

Offering both a Standard spread-only trading account and a commission-based Razor account, Pepperstone offers competitive spreads from 0.1 pips for EUR/USD.

To further reduce your trading costs, we recommend using cTrader on the Razor account as you’ll only pay $6 commissions round-turn compared to $7 using MT4/MT5.

DIVERSE FOREX TRADING PLATFORMS

Pepperstone offers a diverse range of 5 key platforms for UAE traders: MT4, MT5, TradingView, cTrader and Capitalise.ai.

From our testing, we think Pepperstone stands out with its MetaTrader offering, which combines an easy-to-use interface with customizability.

We particularly like the fact that can pre-set your lot size, take profit and stop loss levels in pips, so you don’t have to manually fill the order form. Then, once you have confirmed the one-click execution settings, all you have to do is click the buy or sell button on the chart, and it will execute your orders instantly.

Pepperstone ReviewVisit Pepperstone

We recommend HF Markets for cost-conscious traders looking for tight spreads and controlled trading costs. If you opt for a Raw spread account, you’ll pay US $3.00 in commissions on top of average spreads of 0.32 pips.

We also like that HF Markets offers a wider selection of account types than most brokers. Traders can choose between a Micro, Premium, VIP, Zero Spread, Fixed Spread and Islamic account. The Fixed Spread account stands out particularly as a great option for new traders.

Another DFSA-regulated top forex broker is HF Markets, which offers one of the lowest commissions on this list. If you are an active trader, then a commission-based trading account will be ideal for you due to the benefits of having spreads from 0.0 pips and overall lower trading costs.

COMPETITIVE COMMISSION-BASED SPREADS

HF Markets offers a spread-only Premium account and a commission-based Zero account for retail traders.

Paying $6 per one-lot round trade, you’ll receive the best value on the Zero account, which also has low average spreads of 0.1 pips for EUR/USD.

We analyzed 18 brokers to find which brokers had the lowest commission trading accounts and found that HF Markets offers one of the lowest commissions for a DFSA-regulated broker.

The Premium account, meanwhile, (which is the broker’s standard account) has spreads from 1.2 pips on EUR/USD, which is a little wider than other DFSA forex brokers on this list.

LOW SPREADS ON OVER +1800 PRODUCTS

While HF Markets offers a relatively low range of forex pairs (38) and other products, we like that you can trade almost 2000 physical stocks as a UAE trader. This is a unique broker offering compared to other UAE-regulated brokers.

METATRADER SPECIALIST

Offering both MT4 and MT5, HF Markets also gives you access to Premium Trader Tools, which, combined with Signals via the Autochartist plugin, enhances the default MetaTrader suite.

We also like HF Markets’ mobile app, which combines advanced charting, easy account management and a user-friendly, customizable interface. From our testing, the highlights included an inbuilt calculator and the ability to switch from landscape to portrait mode seamlessly.

We recommend AvaTrade for its fixed spread account. It’s a great choice for new traders, offering price stability and predictability. At 0.9 pips, spreads are slightly wider than for the typical Standard account, but the absence of volatility helps control trading expenditures.

We also appreciate that AvaTrade offers access to high leverage. Traders can expand their positions at ratios of 400:1, the maximum allowed by the DFSA. Its range of products also stands out – 1,466 total products, including 55 forex pairs and 44 forex options.

While most DFSA-regulated forex brokers offer variable spreads, AvaTrade offers competitive fixed spreads, which are ideal so you can avoid price spikes during volatile trading times.

COMPETITIVE FIXED SPREADS

Offering fixed spreads from 0.9 pips for EUR/USD on the broker’s Standard account, AvaTrade provides consistently low spreads.

When we tested the top brokers that offer fixed spreads, we found that AvaTrade had the lowest fixed spreads available. Surprisingly, the spreads on the majors are competitive to brokers that provide variable spreads like HF Market’s Premium account discussed earlier, which was 1.4 pips.

Fixed spreads are typically marked up at a higher price to negate the average daily financial market movements, so it is exceptional value for it to be as low as 0.9 pips.

GREAT TRADING PLATFORM RANGE

We scored AvaTrade an 8/10 for its excellent range of trading platforms. Alongside the popular MT4 and MT5, AvaTrade offers its own proprietary AvaTradeGO platform and AvaOptions platform.

From our testing, we liked the simplicity of AvaTradeGO’s mobile app, which has similar features to its web platform. What stood out for us, however, was AvaProtect, a volatility protection feature allowing you to reduce the risk on an open trade by partially hedging your position with a forex market option.

We were also impressed with the broker’s copy trading platforms, which include ZuluTrade, Duplitrade and MetaTrader’s Signals, as well as its own, excellent, AvaSocial platform.

We recommend IG Group for its low indirect trading trading costs. This broker doesn’t require a minimum deposit to begin trading or charge fees to fund your account or withdraw profits. Muslim traders needn’t worry about interest fees – IG Group offers a swap-free account option.

We also like IG Group for its excellent proprietary trading platform. In addition to many of the same functionalities as the popular MetaTrader platforms, it incorporates additional signals, alerts and charting tools.

IG Group is a reputable and trusted broker, with a wide range of trading products, a beginner-friendly trading platform, and competitive spreads.

LOW MINIMUM DEPOSITS + COMPETITIVE SPREADS

One huge benefit we found when opening an account with IG Group is the broker doesn’t require a minimum deposit if you are funding your account via a bank transfer (it’s $300 using a debit card).

To further lower your trading costs, IG Group’s CFD account has competitive spreads of 1.38 pips for the 5 major currency pairs, from our spread testing analysis of UAE-regulated brokers. This makes IG Group our third-most competitive broker in the UAE.

EASY ACCOUNT OPENING PROCESS

We found IG Group had one of the easiest account opening processes out there. Based on our account opening test, our results show:

• The account opening process was immediate
• It took under 5 minutes to fill in five sections of information
• You can get started with no deposit
• Low minimum deposits via bank transfer

Using a large broker like IG Group means onboarding is fast because they have a solid infrastructure to help with the verification details. Once you have processed your account, you can deposit your funds immediately to start trading.

EXCELLENT PLATFORMS

IG offers the popular MT4 and its own excellent proprietary trading platforms (IG, L2 Dealer, ProRealTime).

We particularly liked the ability to save multiple custom layouts using IG’s Web-based platform. You can display everything from live market prices to news headlines to indicator alerts, in one window.

We recommend Axi for traders looking for fast execution. This broker placed in the top 10 overall when we tested independently, with limit order speeds of 90ms and market order speeds of 162 ms. If you’re a scalper or high-volume trader who relies on micro-movements in the market to profit, it’s a solid choice.

Axi focuses its efforts on MetaTrader 4, offering an enhanced MT4 enhancement tool to give you a superior platform experience, combined with fast execution speeds and low spreads.

FAST EXECUTION SPEEDS

Our testing confirmed Axi has some of the fastest execution speeds for a UAE broker.

The broker clocked speeds of 90 milliseconds for limit orders, putting it as the 4th quickest on our list. When testing Virtual Private Servers (VPS) speeds, Axi was the second fastest broker overall, achieving execution speeds of 107 ms for limit orders.

Axi can achieve these speeds by using its own pricing engine, which allows them to directly connect to 20+ liquidity providers to provide the fastest executions with the best price.

COMPETITIVE COMMISSION-FREE SPREADS:

Based on Axi’s published spreads, the broker has competitive spreads of 1.24 pips across the major USD-backed currency pairs for its Standard account (commission-free). Axi didn’t fair as well with its Pro account, as one of the least competitive commission-based accounts out there.

ENHANCED MT4 FEATURES

Overall, Axi’s MT4 user experience was up there with the best we’ve ever tested, on par with Pepperstone. When testing Axi’s MT4 enhancement tool, we particularly loved utilizing the Alarm Manager, which alerted us when our stop loss and take profit orders were approaching.

We recommend TickMill for traders in the UAE looking for tight spreads. In our independent tests, it beat out over 50 other brokers to take the top spot. TickMill averaged a low 0.16 pips across the major currency pairs, with an ultra-low 0.1 pips for the EUR/USD currency pair.

TickMill is another popular DFSA-regulated forex broker with an excellent range of trading platforms and tools. However, what stands out is that TickMill has some of the industry’s tightest spreads. If you are a high-frequency trader, then you’ll benefit from the tight spreads with TickMill.

TIGHT SPREADS FROM 0.0 PIPS

Many brokers can offer spreads from 0.0 pips, but on average, only a few maintain those spreads. We analyzed TickMill and 14 other brokers that offer ECN/RAW trading account with spreads from zero pips to find which brokers had the tightest spreads.

For the test, we took the total average of all the major currency pair spreads so that we could find the average spread overall for each broker. We found that, on average TickMill offered its RAW pricing spreads at 0.47 pips based on the six major pairs tested. In particular, we found that TickMill had the joint average tightest spreads on EUR/USD at 0.15 pips.

METATRADER-ONLY BROKER

Offering both MT4 and MT5, Tickmill offers a good platform experience, if fairly run-of-the-mill for a MetaTrader-only broker.

While you can’t trade on it, you can also utilise the broker’s, Tickmill app for account management purposes.