The Best DFSA Regulated Forex Brokers For Dubai And UAE Traders:

  • Pepperstone - Best Forex Broker in UAE
  • AvaTrade - Top Broker For Day Traders
  • IG Group - Most Trusted Brokers In UAE
  • eToro - Good Social Trading Broker
  • XM - Top Swap Free Islamic Account
  • FXTM - Great Micro Account
  • HYCM - Best Fixed Spreads
  • Saxo Bank - Good For Professional Traders
  • TickMill - Top Broker With Lowest Commission
  • Axi - Great MetaTrader 4 Forex Broker
Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
98 ASIC,DFSA, FCA,CySEC
BaFin,CMA,SCB
1.12 1.69 1.22 0.17 0.59 0.24 $3.50 77ms $0 62+ 12+ 30:1 500:1 Visit Site
64 ASIC, FSCA
CBI, KNF, CIRO
ADGM, FSC-BVI
- - - - - - - 160ms $100 55+ 15+ 30:1 400:1 Visit Site
71 ASIC, FCA, BaFin
FINMA, NFA/CFTC, MAS
CySEC, DFSA, FMA
JFSA, BMA, FSCA
1.13 1.66 1.01 0.16 0.59 0.29 $6.00 174ms $450 100+ 12+ 30:1 200:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
55 ASIC, FCA
CYSEC, DFSA, IFSC
1.6 1.9 1.6 0.10 0.20 0.40 $3.50 148ms $5-$100 57+ - 30:1 400:1 Visit Site
62 FCA, FSCA, CySEC
FSCM, CMA
1.9 2 2 0.0 0.0 0.5 $2.00 160ms $500 63+ - 30:1 300:1 Visit Site
61 DFSA, FCA
CySEC, CIMA
1.2 1.3 1.3 0.1 0.4 0.3 $4.00 170ms $100 69+ 14+ 30:1 500:1 Visit Site
64 FCA, CYSEC, DFSA, FSA-S, Labuan FSA, FSCA 1.6 1.6 1.6 0.1 0.3 0.1 $2.00 125ms $100 60+ - 30:1 500:1 Visit Site
54 ASIC, FINMA
FCA, MAS
1.20 1.8 0.9 - - - - 135ms $2000 209+ 9+ 50:1 50:1 Visit Site
67 ASIC,FCA
,DFSA,FMA
1.2 1.3 1.3 0.44 0.85 0.42 $3.50 90ms $0 72+ 11+ 30:1 400:1 Visit Site

1. Pepperstone Best Forex Broker In UAE

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 1.12
GBP/USD = 1.69
AUD/USD = 1.22

Trading Platforms

MT4, MT5, cTrader, TradingView, Capitalise.ai

Minimum Deposit

$0

Why We Recommend Pepperstone

From our analysis of various forex brokers, Pepperstone is undeniably one of the best forex brokers in the UAE.

From ultra-low spreads to fast execution speeds and robust tier-1 regulation, Pepperstone has many attractive features that make it a competitive option for traders of all experience levels.

The broker offers a wide range of financial instruments and CFDs, particularly in equities, and boasts a range of platforms including MetaTrader 4, MetaTrader 5, cTrader and TradingView.

These platforms are enhanced with advanced tools which are ideal for forex traders looking to undertake comprehensive technical analysis.

Pros & Cons

  • MT4, MT5, cTrader and TradingView
  • Top customer service
  • Fast order execution
  • No deposit fees
  • Limited e-wallet deposit options
  • No credit card option for retail traders
  • No spot shares (CFD only)
  • No proprietary platform

Broker Details

best dubai forex brokers awardPepperstone is an Australian-based CFD and forex broker with a global reach and headquarters based in Melbourne.

While there are many things we like about the broker, it’s their ultra-tight spreads and low commissions that make them such an attractive option for traders of all experience levels.

Competitive Spreads

Once a month we capture the average spreads from brokers and we found that with an average spread of 1.12 pips for the EUR/USD pair,  Pepperstone has some of the the lowest no-commission spreads of any broker we’ve reviewed.

You can choose between commission-free spreads on the Standard account or commission-based spreads on the Razor account.

In our opinion, we think the Razor Account will be more suitable for you as an experienced trader, especially if you are trading with larger volumes as this will help to keep trading costs down.

Execution Speed

As Pepperstone aggregates price quotes from 22 tier-one liquidity providers, it can ensure lightning-fast execution of market orders, with an execution speed of 77 ms. Fast order execution speed is helpful to scalpers and social trading (copy trades).

To get a more accurate reading of the ECN order execution speed, we used a MetaTrader 4 script to verify the quality of trade execution for various brokers. The results of our testing revealed that Pepperstone records an impressive execution speed of 100 milliseconds.

Below you can view a full trade execution speed comparison among Dubai forex brokers using limit orders.

Swap-Free Account

Importantly, Pepperstone offers a Swap Free Account which is available for Muslim traders who aren’t able to pay or receive interest.

The Islamic Account offers the same spreads as the standard account but with swap-free brokerage. You will however need to pay an administration fee every 10th overnight.

Discounts For Traders

Another aspect we like about Pepperstone is that they have an active trader program for high-volume traders. This means that if you’re trading actively, you will likely receive rebates and/or discounts on trading fees and commissions.

Education

Additionally, Pepperstone’s extensive online educational resources are invaluable for traders of all experience levels. This means that regardless of whether you’re just starting your trading journey or you’re a veteran, there will be plenty of materials for you to get stuck into.

pepperstone account types brief uae

 

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Pepperstone ReviewVisit Pepperstone

2. AvaTrade Top Broker For Day Traders

AvaTrade

Forex Panel Score

64

Average Spread

EUR/USD = 0.9
GBP/USD = 1.5
AUD/USD = 1.1

Trading Platforms

MT4, MT5, AvaTradeGo, AvaOptions

Minimum Deposit

$100

Why We Recommend AvaTrade

In our view, AvaTrade is one of the most reputable and beginner-friendly online brokers available in the UAE.

Not only are they regulated by multiple tier-1 regulators across 6 different countries, but they also have a large product offering.

Ross Collins from the CompareForexBrokers team analysed how many markets each broker had available and found that AvaTrade has one of the most on offer with over 50 forex pairs, shares, indices, and a large collection of cryptocurrencies.

They have Islamic accounts available for Muslim traders, demo accounts and interesting social and copy trading features that provide you with access to DupliTrade (with MT4) and ZuluTrade.

Pros & Cons

  • Overseen by multiple tier-1 regulators
  • A large range of financial markets
  • Islamic accounts available
  • Social and copy trading functionality
  • Limited account types
  • Spreads aren’t overly attractive
  • No integration with TradingView

Broker Details

AvaTrade is a broker that operates under a market maker model. It is a trusted global brand that is best known for offering an extensive selection of markets and trading platforms for foreign exchange and CFD traders.

Education and learning

AvaTrade offers an exceptional range of educational resources to help you develop your trading skills, regardless of what level of trader you may be.

They have an online Academy that has trading courses and guides for trading specific markets including cryptocurrencies, forex, stocks and indices.

Courses have between 5 and 20 video lectures each, which provide a comprehensive and immersive experience for traders of all experience levels.

Platforms

We constantly check which platforms brokers are integrated with and AvaTrade performs well in this regard. We particularly like that AvaTrade has its own proprietary AvaTradeGO platform, in addition to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

Our testing of the platforms found AvaTrade to be great for copy trading, competitive for mobile, and generally in line with the industry average for pricing and research.

AvaProtect

AvaProtect is a unique feature that stands out to us and is worthy of mention. For a small fee, it provides you with the opportunity to protect your trades from losses for a specified period.

Customer Support

We think AvaTrade has a pretty good customer support team that provides multilingual assistance 24/5. This means you can quickly get the help you need.

avatrade account types UAE overview

3. IG Group Most Trusted Brokers In UAE

IG Group

Forex Panel Score

71

Average Spread

EUR/USD = 1.13
GBP/USD = 1.66
AUD/USD = 1.01

Trading Platforms

MT4, IG Trading Platform, L2 Dealer, ProRealTime

Minimum Deposit

$0

Why We Recommend IG

IG is one of the world’s largest DFSA-regulated forex brokers and ranks as the best forex broker for safety and security. This is important given there are numerous scams in the industry.

We conduct extensive research into each broker, including reading disclaimers, to determine which regulators they are regulated by. We can confirm that IG is regulated by several tier-one regulatory bodies and has been around for over 45 years with a global presence across 16 offices.

In this time, IG Group has managed to establish itself as a reputable and leading name within the industry. From our assessment, their proprietary trading platform is world-class and they boast one of the largest ranges of markets in the industry.

For this reason, we gave IG Group a score of 71/100.

Pros & Cons

  • Extensive range of markets
  • Regulated by numerous tier-1 regulators
  • 4 Trading Platforms
  • IG Platform has guaranteed stop-loss orders
  • Customer service isn’t top-notch
  • Inactivity fees are charged
  • No TradingView
  • No MetaTrader 5
  • No RAW spread account for retail traders

Broker Details

IG Markets boasts a user-friendly webtrader interface and trading app with an extensive range of markets. We think it offers an excellent product as far as UAE forex brokers go, despite the lack of integration with some third-party platforms like TradingView and MetaTrader 5.

Markets

IG Group offers over 10,000 markets to trade in the UAE spanning forex, crypto, shares, and options, placing it among the top-tier.

Additionally, you get automatic negative balance protection on standard IG trading accounts (not on the limited risk account) while you get automatic guaranteed stop loss orders on the limited risk account.

Accounts

There are various accounts for you to choose from including the IG limited risk account and the swap-free (Islamic) account which is Sharia law compliant.

Minimum Deposit

Another aspect we like about IG Markets is that there is no minimum deposit amount, meaning retail investor accounts can start with just a small amount.

Platforms

IG offers its proprietary trading platform which is robust and highly suitable for experienced traders. You can also connect IG with MetaTrader 4 if you’re more accustomed to this platform.

ig markets account types products uae

4. eToro Great For Social Trading

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

eToro is undeniably unique because of its social trading and copy trading functionality which allows you to browse traders and automatically copy their trading strategies.

You can use various filters to find the trading style you want to copy including by location, risk score, and strategy type.

Another unique aspect is eToro’s social trading feeds which create the ability for traders to interact with other traders.

Pros & Cons

  • Unique social and copy-trading
  • Intuitive and streamlined user interface
  • Negative balance protection
  • Regulated by numerous tier-one regulators
  • Beginner friendly
  • No MetaTrader 4 and 5
  • No TradingView
  • No stockbroking services
  • No guaranteed stop-loss order
  • Relatively high spreads and fees

Broker Details

There are many aspects we like about eToro including their social feed and copy trading functionality. However, the uniqueness of the offering also has some drawbacks which we discuss below.

Platform

eToro offers a simple and easy trading platform on mobile and desktop devices however, there is no integration with MetaTrader which might be an issue for those accustomed to the platform.

The other key issue is the lack of functionality and features such as guaranteed stops and customizable charting.

Fees

When trading stocks and ETFs on eToro there are no commission fees incurred, making it a desirable option. Additionally, there is no management fee when you copy other traders.

However, the cost of trading CFDs comes in the form of the spread and overnight fees. The spreads on the most popular currency pairs start from 1 pip, 2 pips on commodities, 100 pips on stock indices, and 0.75% on cryptocurrencies.

5. XM Top Swap Free Islamic Account

XM

Forex Panel Score

55

Average Spread

EUR/USD = 1.6
GBP/USD = 1.9
AUD/USD = 1.6

Trading Platforms

MT4, MT5, XM App/Tablet

Minimum Deposit

$5

Why We Recommend XM

XM offers various account structures including the best swap-free Islamic account we’ve seen in the market.

If you’re a trader of the Muslim faith, the account provides you with access to the markets with no interest charges on positions held open for longer than a day.

Additionally, XM doesn’t widen the spreads offered to Islamic account holders, and no commissions are charged.

Pros & Cons

  • Regulated by numerous tier-1 regulators
  • Offer exclusive technical indicators
  • $5 minimum initial deposit
  • Micro Accounts available for beginners
  • Negative balance protection
  • Inactivity fees charged after 90 days
  • Withdrawal fees on amounts less than 200
  • Expensive spread pricing

Broker Details

We think XM is a great all-round broker, particularly for beginners given they have a good range of account options including the best swap-free Islamic Account.

The main difference between each account is the allowable trading size. The micro account is designed for cent trading while the Standard Account is designed for conventional volumes.

Commission-free

XM has 3 types of commission-free accounts including the Micro, Standard, and Ultra-Low Accounts, although the Ultra-Low isn’t available if you’re in the UAE.

From our analysis, the spreads on both the Micro and Standard Accounts are fairly expensive, starting from an average of 1.72 pips on major pairs, offsetting some (if not all) of the benefit from having no commissions.

Markets

We like that XM offers a diverse range of markets that are accessible for all investor accounts with over 1,250 CFD trading products.

Whether you want to focus on the most commonly traded currency pair (EUR/USD) or develop strategies using minor and exotic FX pairs, the XM group offers great access to forex markets with no commission fees and low spreads.

6. FXTM Great Micro Account

FXTM

Forex Panel Score

62

Average Spread

EUR/USD = 1.9
GBP/USD = 2
AUD/USD = 2

Trading Platforms

MT4, MT5

Minimum Deposit

$10

Why We Recommend FXTM

FXTM is a global broker that is regulated by tier-1 financial authorities, including the UK’s FCA.

Unlike many other top brokers, FXTM offers a Micro Account, specifically designed for micro trading on MetaTrader 4.

Pros & Cons

  • Good range of account options
  • Great educational resources
  • Copy trading available
  • No funding fees
  • No integration with cTrader
  • Not regulated by DFSA
  • Inactivity fees charge
  • No guaranteed stop-loss option

Broker Details

A standout feature of FXTM is their impressive account offering. There are six account types to choose from, each providing access to different asset classes, pricing models, and commissions.

Platforms

FXTM is known as a specialist MetaTrader broker, focusing its CFD trading exclusively on the MT4 and MT5 platforms. Unfortunately, this means that if you’re looking to use cTrader, then you are unable to do so with this broker.

Copy trading

FXTM Invest is a copy trading service similar to the setup at eToro. You follow the FXTM traders, known as strategy managers in this case, with the risk management principles and system that align with your expectations.

If you’re a risk-tolerant trader, then choose a high-risk system. If you want short-term results, then choose a scalping system. The choice is entirely up to you.

7. HYCM Good For Fixed Spreads

HYCM

Forex Panel Score

61

Average Spread

EUR/USD = 1.2
GBP/USD = 1.3
AUD/USD = 1.3

Trading Platforms

MT4, MT5

Minimum Deposit

$100

Why We Recommend HYCM

HYCM is one of the oldest forex brokers in the industry and offers some of the best-fixed spreads available, starting from 1.2 pips on EUR/USD.

They have a worldwide presence and are regulated by numerous tier-1 regulators including the FCA, CYSEC, and DFCA in Dubai.

Pros & Cons

  • Attractive fixed spreads
  • Integrated with MetaTrader
  • Social and copy trading tools available
  • Automated trading allowed
  • No deposit integration with Paypal
  • Inactivity fees are charged
  • No integration with cTrader
  • No guaranteed stop-loss

Broker Details

HYCM provides access to a vast range of trading opportunities spanning forex, stocks, indices and commodities with fixed spreads that are attractively priced.

We like that no commissions are charged and the broker offers the choice of the MetaTrader 4 or 5 forex trading platform, numerous account types, and strong customer support.

Tight spreads

Dubai professional traders with sufficient trading experience can opt to open an HYCM Raw account. One notable feature of this account type is the tight spread, starting from 0.2 pips.

Similar to classic accounts, on a raw account, you can trade with the use of expert advisors and can set this account to run either on the MetaTrader 4 or the MetaTrader 5.

Proprietary platform

In addition to integration with both MetaTrader platforms, HYCM offers a proprietary platform that has a range of useful features and can be used on the move with their mobile app.

8. SAXO MARKETS Great For Professional Traders

SAXO MARKETS

Forex Panel Score

55

Average Spread

EUR/USD = 1.2
GBP/USD = 1.8
AUD/USD = 0.9

Trading Platforms

MT4, TradingView, SaxoTraderGo, SaxoTrader Pro

Minimum Deposit

$0

Why We Recommend Saxo Markets

Saxo is an advanced broker that we think is better suited for professional traders. It provides you with an extensive range of markets to trade on its proprietary trading platform which has social and copy trading features available.

Pros & Cons

  • No inactivity fees
  • No funding fees
  • Proprietary trading platform
  • Social and copy-trading
  • No swap-free account
  • No integration with MetaTrader
  • No guaranteed stop-loss

Broker Details

Saxo Markets operates as a market maker and therefore only offers fixed spreads which can vary from current market prices.

Accounts

If you want forex brokerage services with extra perks, Saxo Bank’s VIP trading account offers discounted pricing and exclusive benefits.

Range of markets

Saxo Capital Markets offers you more than just forex currency trading. They have more than 9,000 CFD instruments including stocks, ETFs, crypto, commodities, and more.

Regulation

Saxo Bank is a multi-regulated broker that operates in the UAE under DFSA oversight. It is also regulated by ASIC in Australia, the FCA in the UK, and many other tier-1 regulators.

9. TICKMILL Top Broker With Lowest Commission

TICKMILL

Forex Panel Score

64

Average Spread

EUR/USD = 1.6
GBP/USD = 1.6
AUD/USD = 1.6

Trading Platforms

MT4, MT5, CQG

Minimum Deposit

$100

Why We Recommend Tickmill

We like Tickmill for various reasons including the fact that they have the lowest commissions that we have seen for the UAE.

From our analysis, the average commission rate per side for each broker is $3.48, but TickMill comes in substantially lower at $2 for USD pairs, £2 for GBP pairs and €2 for euro pairs. This positions them very favourably as far as commissions go.

It’s important to note however that their markets outside of forex are somewhat limited, with only 2 metals, 4 bonds, and no crypto or shares.

Pros & Cons

  • Low commissions
  • Swap-free Islamic account available
  • Social and copy-trading
  • No funding fees
  • Charge inactivity fees
  • No integration with MetaTrader 5
  • No integration with TradingView
  • No automated trading

Broker Details

Tickmill is a suitable forex broker for traders of all levels of experience. The $2 commission per lot to open your position is some of the best in the market.

Accounts

Tickmill offers you the choice of three account types for trading forex and CFDs using a No Dealing Desk model with ECN-style pricing.

These include the Pro Account, the Classic Account, and the VIP Account. Each of these account types will suit a different level of trading experience. They also offer an Islamic account for traders of the Muslim faith.

Spreads

Tickmill offers competitive spreads across a range of 62 currency pairs, stock indices, oil, metals, and bonds. The Classic Account offers slightly higher average spreads on the range of currency pairs.

10. AXI Great MetaTrader 4 Forex Broker

AXI

Forex Panel Score

67

Average Spread

EUR/USD = 1.2
GBP/USD = 1.3
AUD/USD = 1.3

Trading Platforms

MT4

Minimum Deposit

$0

Why We Recommend Axi

We like Axi because they offer ECN-style tight spreads for a range of markets, making them a great MetaTrader 4 forex broker.

Via this platform, you can access 140+ currency pairs for forex trading, a $0 minimum deposit, fast execution, award-winning customer support and other CFD products including cryptocurrencies like Bitcoin.

Pros & Cons

  • Low spreads
  • Integration with MetaTrader 4
  • Extensive range of forex markets
  • No inactivity fees
  • No integration with MetaTrader 5
  • No guaranteed stop loss available
  • No proprietary platform

Broker Details

Axi has a simple-to-use forex trading platform with tight spreads (low fees) and an excellent training program supported by great educational resources. The forex broker is regulated by the DFSA which is critical due to the safeguards in place to protect currency traders.

Enhanced MT4 features

Axi has the MT4 enhancement tool which offers you several benefits including an Alarm Manager which alerts you when a trigger is reached, an economic calendar with RSS news, and market correlation tools.

Advanced Technology For Faster Execution and better Pricing

Axi’s MT4 offering is based on superior network technology, which allows for considerable latency reduction. This means the chance for traders to experience slippage is also reduced significantly, which ensures lower trading costs compared to a standard connection.

Servers for Axi are located in major financial centres and are connected directly to a pool of 20+ liquidity providers. The top-notch technological solution offered by Axi translates into fast order execution speed. Axi can boost the 130-millisecond execution speed of market orders.

Note: The below testings were conducted using a third-party MetaTrader 4 script on a demo account using market orders.

VPS

To reduce the risk of ‘gapping‘ Axi offers deals for Virtual Private Servers (VPS) which provide you with faster execution due to the extra processing power and higher speed internet connection.

AxiTrader Account types for UAE traders