Best CFD Brokers in the UAE

AvaTrade Has The Best Fixed Spreads

One of the best forex brokers in the UAE is AvaTrade but the service they offer is for a very different group of traders. Unlike Pepperstone and just about all the brokers, AvaTrade offers fixed spread trading, which means the broker sets prices with its own liquidity rather than using external providers.

There are 55 currency pairs, 15 cryptocurrency CFDs, 33 stock index CFDs, 625 share CFDs, and 30 commodities CFDs. Overall, it’s weaker than Pepperstone for currencies and cryptocurrencies, but fares a little better for indexes, shares, and commodities.

When trading forex, retail traders can trade with leverage up to 30:1, while professional traders can trade with 400:1.

To open an account, there is a minimum deposit of $100 and you can choose between seven funding methods, all with no fee. but, there’s an inactivity fee of $50 per quarter — this applies if you’re inactive meaning you have not traded for three months.

On the bright side, there are a variety of social trading tools, which you can carry out through third-party platforms DupliTrade and ZuluTrade or AvaSocial. You can also go for both standard and guaranteed stop losses, besides automated trading.

Trading Accounts

Unlike other brokers, AvaTrade doesn’t have a range of accounts, mostly because of its specialism being fixed spreads. It offers an Islamic account, a demo account, and a professional account, but these are the only options other than the default.

You’ll get plenty of choice over platforms, though. As with Pepperstone, you can trade on MT4 and MT5. You can’t trade on cTrader, but you can use Avatrade’s own platform, AvaTradeGo, to trade on the go through your smartphone.

Spreads

AvaTrade offers a great job at fixed spreads, with some going as low as 0.9 pips for some major currencies. While fixed spreads are wider than variable spreads, they are designed for different traders.

Top Fixed Spread Brokers	EUR/USDAUD/USDEUR/GBPGBP/USDUSD/JPYAUD/JPYEUR/JPYUSD/CAD	EUR/USDAUD/USDEUR/GBPGBP/USDUSD/JPYAUD/JPYEUR/JPYUSD/CAD	EUR/USDAUD/USDEUR/GBPGBP/USDUSD/JPYAUD/JPYEUR/JPYUSD/CAD	EUR/USDAUD/USDEUR/GBPGBP/USDUSD/JPYAUD/JPYEUR/JPYUSD/CAD	EUR/USDAUD/USDEUR/GBPGBP/USDUSD/JPYAUD/JPYEUR/JPYUSD/CAD
	0.90	1.10	1.50	1.60	1.10
	0.90	1.20	2.00	1.80	1.30
	4.00	4.00	3.00	5.00	4.00
	3.00	3.00	3.00	3.00	3.00
	1.50	1.80	2.00	2.00	1.80

Data taken from broker website. Accurate as at 01/12/2021

One thing to note is that AvaTrade spreads are not always truly fixed. These spreads can change when the market is volatile and even through the trading day. However, for the most part, the spreads are fixed rather than variable.

Products

AvaTrade offers fixed spreads for most of its trading products. Specifically, fixed spreads are available for forex pairs, forex options, bonds/treasuries and indices. Cryptocurrencies and single stock/shares use a fixed percentage while most commodities use a fixed mark-up.

While the spreads are fixed, they can widen at certain times. Certain metals and energies, for example, are wider during peak trading hours and narrower for the off-peak times.

Regulation

While most brokers on this list are regulated by the DFSA which is the Dubai free trade zone, AvaTrade is regulated by ADGM which is the Abu Dhabi free trade zone. As a trader from the UAE, you are unlikely to notice much difference.

Pros:

• Regulated by the DFSA and ADGM
• Great fixed-spread prices
• Good variety of shares and indexes

Cons:

• Not as good for trading with commissions
• Limited range of accounts

View AvaTrade Review >>Visit AvaTrade >>

IG Markets Has Low Minimum Deposit

IG is one of the most well-established trading brokers having been around since 1974. It’s now launched in 15 countries across the globe and expanded to have over 300,000 traders, including those in the UAE.

The broker’s standout offering is the low minimum deposit of just $0, meaning that beginners and advanced traders alike can test out the platform without having to put in vast amounts of capital upfront.

You can trade forex, shares, indices, and cryptocurrencies, with 17,000 markets available.

IG also has great customer service, with staff on hand 24 hours a day and seven days a week (except for 1 am to 11 am on Saturday in Dubai time). There’s also a helpful range of educational resources, and it’s won various awards — such as the best trading app (voted at the ADVFN International Financial Awards 2020).

You can make use of a variety of stop and limit orders and also benefit from responsive HTML5 charts, price and economic alerts straight to your device, and top-tier execution. Leverage is available up to 1:30.

Trading Accounts

You can choose between a live account or a demo account, which is great to use alongside the range of free resources on the site. This means there’s just one account option for trading CFDs that’s compatible with MT4, while the other account is for direct market access (which allows you to access market prices without intervention from liquidity providers).

There are a variety of platforms to trade on, such as MT4, L2 Dealer, and ProRealTime. The last two options are more advanced platforms, with L2 Dealer offering direct market access and ProRealTime more sophisticated tools for analysis and charting. However, you can’t trade using MT5.

Spreads

Spreads start from 0.6 pips, which is on the lower end of the spectrum, but they can go up to 1.5 pips for more unusual currency pairs.

Regulation

IG is regulated by the DFSA, along with other providers elsewhere in the world.

Pros:

• $0 minimum deposit
• Great customer service
• Can access advanced trading and charting tools

Cons:

• Can’t use MT5

View IG Markets Review >>Visit IG Markets >>

XTB Serves Clients Across All The Middle East

While all brokers on this list are great options for traders in the UAE, they’re not all as inclusive of neighbouring regions that fall under the same category. XTB is different since it accepts traders from Oman, Saudi Arabia, Bahrain, Qatar, and Kuwait, rather than solely focusing on the UAE.

XTB offers 57 currency pairs and over 1,800 share CFDs, making it one of the more varied on the list, but it doesn’t fare so well for trading other assets. It doesn’t offer any cryptocurrency CFDs, only 22 commodity CFDs, and 36 index CFDs. When trading forex, yhe leverage offered is 1:50.

You can fund your account using five methods, but some of them have fees involved — there’s a 2% charge for Skrill and a 1% charge for Neteller. However, there are no charges for inactivity.

XTB also offers a range of other tools, including automated trading, social trading, and standard stop losses. Plus, there are over 2,000 different instruments on offer.

Trading Account

There’s only one account type available (other than an Islamic account and a demo account), but there are a range of platforms you can trade on.

MT4 is one of them, but not MT5. This isn’t a major issue since MT4 is the most popular and largely viewed as the best trading platform, but it could be a limitation for some people.

Alternatively, you can trade on xStation 5, XTB’s own trading platform, which offers live data and commentary and greater transparency. It’s suitable for smartphones and desktops alike.

Spreads

Spreads start low, from just 0.5 pips with no commission fees.

They’re higher for Islamic Account holders, with spreads starting from 0.7 besides the commission of $10 per lot.

Regulation

XTB was recently given a license from the DFSA, meaning it’s joined the more established and successful brokers from the region as a major player.

Pros:

• Open to traders throughout the Middle East
• Good range of currency pairs
• Choice of trading platforms

Cons:

• Doesn’t offer cryptocurrencies
• Can’t use MT5

XTB Review >>Visit XTB >>

AxiTrader Has No Funding Fees

It’s not just the spreads and commissions you have to watch when trading — it’s also the pesky fees for things like inactivity and funding your account. Fortunately, this is where AxiTrader shines.

There are 26 methods of funding (including Skrill and Bitcoin), but none of them involve any fees. Plus, there’s no inactivity fee and no minimum deposit.

But this isn’t all that AxiTrader has going for it. The leverage you can access goes up to 400:1, and you can try automated trading or social trading and make standard stop losses.

There are 80 currency pairs, 6 cryptocurrency CFDs, 31 index CFDs, and 28 commodity CFDs. This is a lower selection than some other brokers, and there are no share CFDs either, but the other benefits more than compensate.

Trading Accounts

The two main account types to choose between are the Standard Account (with no commission) and the Pro Account (with a $7 commission but lower spreads). True to the general ethos of AxiTrader, neither account involves fees to set up.

You can also open an Islamic account or a demo account.

As for the platforms, you can trade on MT4, but there’s no MT5. However, you will get the option to use Autochartist (which helps you find trading opportunities across different markets automatically) and PsyQuation (made by Axi and gives tailored advice based on your mistakes).

Spreads

Spreads on the Standard Account start from 0.4 pips, while the Pro Account has spreads starting from 0.1 pips plus a commission of $3.50 each way. On the whole, the spreads are a little higher than the other brokers on this list, but they’re still competitive.

Regulation

Axitrader is regulated by DFSA, so if you like the sound of it, it’s a secure broker to go with.

Pros:

• No fees for funding or inactivity
• Lots of cryptocurrency pairs
• Trading platforms that help you improve your trading

Cons:

• No MT5
• Higher spreads

View AxiTrader Review >>Visit Axitrader >>

Saxo Bank Offers VIP Trading Account

Saxo Bank is a major player in the world of CFD trading, having been around for more than 25 years and counting 660,000 clients on its books.

Leveraged products with Saxo Bank are not just limited to CFDs but also include spot trading. Plus traditional investment options are also available.

These trading instruments come with powerful trading tools, including Saxo’s in-house developed trading platforms, trade signals, technical indicators, and tools for risk management.

However, you could face an inactivity fee of $150 if you’re inactive for 180 days, which is a lot steeper than the competition.

Trading Accounts

There are three account tiers: Classic, Platinum, and VIP. The Platinum and VIP accounts allow you to trade at lower spreads. You’ll also get access to high-quality customer service if you upgrade; all account holders can access 24/5 support, but only those with VIP accounts can rely on direct access to trading experts.

Each of the accounts have higher minimum funding requirements than other brokers, and they go up with each account type. The Classic account requires $10,000, the Platinum $25,000, and the VIP has minimum funding of $1,250,000.

On balance, opening an account with Saxo has many advantages thanks to the features and selection, but it might not be suitable for everyone because of the high funding requirements — it makes more sense for high-value traders.

You can trade on either the SaxoTraderGO or the more professional SaxoTraderPRO.

Spreads

Pricing starts from 0.4 pips, which is competitive for spreads. However, these vary between account types. Platinum Accounts have access to 30% lower prices, and VIP prices are even lower than this.

Trading Platforms

Saxo Bank gives you a choice of 3 trading platforms. Each platform is suitable for a different type of trader. Most retail traders will use SaxoTraderGO as this is designed for long-term investors and small or medium volume traders. This platform is available through your web browser.

SaxoTraderPRO is for high volume active traders as it contains a wealth of customisation features and tools to speed up your trading. This platform requires you to download software for PC or MAC.

Lastly, MetaTrader 4 is also an option but only for forex trading.

Trading Products

Saxo Bank differs from most other brokers on this list as they offer more than just CFD products. They also offer spot trading and investment choices.

You can trade 9,500 instruments as CFDs, including 8,000+ stocks, 675 ETFs, 29 indices, 35 commodities, five government bonds, and 15 indexes. However, there are only 7 FX pairs, which is less than other brokers on the list.

Besides CFD products, you can trade other leveraged instruments using spot pricing or invest in a range of other asset classes.

Regulation

Saxo is regulated by CBUAE, which is a top-tier regulator that ensures your investments will be safe.

Pros:

• Premium customer service
• Good for professional traders
• Lots of trading instruments

Cons:

• High minimum funding
• High inactivity fees

View Saxo Markets Review >>Visit Saxo Markets >>

XM Has A True Islamic (Swap-Free) Account

Unlike some other brokers that offer a swap-free account for Islamic traders, XM offers a sharia compliant swap-free account. The difference is the XM Islamic account does not use other charges to cover the absence of swaps. This means no administration charges, no service fees, no commission costs and the spreads themselves are not artificially widened.

As a trader, you are getting exactly the same spreads as a trader using an account with swaps.

Best of all the Islamic account is good for trading with all of XM’s 1,000 different trading instruments, including 55+ forex currency pairs, shares for 600+ companies, indices, metals, commodities, and energies.

As a winner of over 30 industry awards — including Best Retail Forex Broker in the Global Forex Awards 2021 — this is a broker that puts customer service and transparency as priorities. You can count on 24-hour customer service five days a week. Plus, you’ll get free access to forex market research, forex calculators, technical analysis, and webinars.

Plus, the minimum deposit to open an account is just $5.

Maximum leverage is 1:30, which is lower than most, and even lower for non-forex CFDs, which could be a potential drawback.

Trading Accounts

While most brokers on this list offer an Islamic Account, XM really stands out here. Its swap-free account offers 30:1 leverage and lets you hold positions with no time limit without charging interest. Basically, it offers the same trading conditions as all other accounts with no extra charges.

You can choose between an Ultra Low Standard account and a Professional Account. The Ultra Low account offers no commissions and instead offers low spreads that start from 0.6 pips, while the Professional Account offers commissions.

For trading, you can choose between XM Web Trader and MT5. Although MT5 is a great advanced trading option, it’s unusual for a broker to not also offer MT4.

You can access the platform on seven devices (PC, Mac, WebTrader, iPad, iPhone, Android, and Android Tablet).

Spreads

With an Ultra Low account, spreads start at 0.6 pips, but they’re higher for the Professional Account type.

Regulation

XM is regulated by the DFSA.

Pros:

• Great customer service
• Good selection of accounts available
• Low minimum deposit

Cons:

• Doesn’t offer MT4
• Low leverage

View XM Review >>Visit XM >>