Uae Licensed Forex Brokers

The UAE economy has seen strong growth, which has pushed it to the top of some economic indicators, such as per-capita income and per-capita energy consumption. It helps to understand Trusted Forex Brokers in Saudi.

Much of that growth comes from the country’s heavy reliance on natural resources such as oil, the main source of the national economy, alongside returns from investment in both tourism and foreign investment.

This is why many brokers seek to obtain a licence from the Central Bank of the UAE or from the UAE capital-market regulator.

What is a broker?

A broker is the entity that connects the trader to the financial market. Through this entity, the trader can execute trades, whether buying or selling.

These companies must obtain licences from regulatory authorities to organise and control their work. These licences differ from one country to another, but there are certainly some licences that raise confidence in the company an individual trades with.

As for whether trading in the UAE is legal: the answer is yes. Individuals and investors can trade online in the UAE, and they can also trade in all global financial markets.

These include the Saudi stock market, the UAE stock market and US stocks. Residents of the UAE can also trade cryptocurrencies and gold.

What are the regulatory authorities in the UAE trading and investment market?

There are several regulatory bodies in the UAE that organise trading. They fall into two groups: one local and one international.

Local regulators in the UAE financial market

1. Dubai Financial Services Authority (DFSA).
2. Abu Dhabi Global Market (ADGM).
3. Securities and Commodities Authority.

International regulators in the UAE financial market

1. FINMA — the Swiss Financial Market Supervisory Authority.
2. ASIC — the Australian Securities and Investments Commission.
3. MiFID — the Markets in Financial Instruments Directive.
4. FCA — the UK Financial Conduct Authority.
5. CySEC — the Cyprus Securities and Exchange Commission.

Brokers licensed in the UAE financial market

Amana Capital

The company is licensed by several leading global regulators, including the Dubai Financial Services Authority.

It offers a range of instruments covering forex, indices, stocks, CFDs, spot metals and commodities.

It offers desktop and mobile trading through the MetaTrader 5 and 4 platforms, and it also provides an education broker and premium trading tools including Autochartist and TradeCaptain.

Amana Capital features

The platform lets both experienced and beginner traders adapt its features to suit their different strategies, which include:

• A large database of forex quote history.
• Features for automated trading and trading algorithms.
• An unlimited number of charts across different timeframes.
• A full set of technical analysis tools.

Amana Capital markets

The company offers many financial markets, such as:

1. Gold and silver markets in spot and futures contracts.
2. Energy markets including crude oil and commodity futures such as coffee and wheat.
3. Various foreign-exchange markets, offering more than 54 pairs, plus a range of popular futures and cash stock indices such as the Dow Jones and the FTSE 100.
4. More than 280 US company stocks such as Facebook, Apple and McDonald’s.

Commissions at Amana Capital

Spreads at the company are moderate, starting from 1.4 pips on EUR/USD, while GBP/USD is 1.9 pips and cash indices such as the Dow Jones are 1.5 pips.

No commissions are charged on foreign-currency pairs, but fees are charged on indices, metals, commodities and energies at $10 per lot.

Commission on US stocks is about $0.02 per share. The company also charges overnight financing or swap fees, which are interest on trades left open overnight.

XM

The company was founded in 2009 and is a safe, medium-risk broker for trading foreign currencies and CFDs. It employs more than 300 professionals with experience in the financial sector.

XM is a broker for the MetaTrader platform, and it has been ranked among the best licensed brokers in the UAE.

The company offers social copy-trading services, and it took seventh place in a competition for the best broker for deep, varied research offerings.

The company has attracted around a million clients since it launched, operates in 196 countries, and supports 30 languages, including Arabic.

XM features

The company lets all its clients choose between the world’s two most popular forex and CFD trading platforms: MetaTrader 4 or MetaTrader 5.

There is no minimum deposit at the company, though its system sets a minimum deposit of around $5 for electronic funding such as Moneybookers, Skrill and Neteller, in addition to credit cards and bank transfers.

As for fees, withdrawals of amounts under $200 cost up to $15.

The company works with all client strategies without complication while accounting for the factors that can affect a client’s performance, so it offers small spreads and is considered to have among the better trade execution available in the forex market.

The platform provides research, news and market analysis, including technical analysis carried out on various price charts, and it covers foreign currencies, commodities and stocks.

XM markets

1. The company lets the trader access many financial markets such as forex, indices, stocks, precious metals, commodities and raw materials.
2. The company offers trading through interest-free Islamic trading accounts, meaning no added commissions or fees on trades.

Commissions at XM

The Ultra Low account offers a lower average spread down to just $50, and it offers fewer base currencies, excluding the Japanese yen and the Russian ruble from the currencies available to trade.

There are no trading bonuses offered to holders of these accounts.

The company offers both the Micro account and the Standard account, which are very similar; each requires a minimum deposit of $5, a low and competitive minimum compared with other companies.

Read also: Trading precious metals — how to trade gold and profit from it.

Equiti

Equiti was founded as Divisa Group in 2008, but in 2018 it renamed its subsidiaries in the UK, the US and Jordan to Equiti Group. The company currently operates as a broker across various regions of the world, including Europe, America, Africa and the Middle East, and has achieved considerable success over the past period. It currently has around 300 employees worldwide and holds high-level regulation in many of the countries where it operates. In the UK it is regulated by the Financial Conduct Authority (FCA), while in Jordan it is regulated by the Jordan Securities Commission.

Equiti features

Equiti has a set of features that make it suitable for both beginner and professional traders:

• The company is licensed and regulated by several strong regulators, such as the UK Financial Conduct Authority.
• The company offers leverage up to 1:500.
• The company has offices in several Arab countries, such as the UAE and the Hashemite Kingdom of Jordan.
• The company offers instant-execution accounts, known as ECN accounts.
• It offers various deposit and withdrawal methods, such as credit cards, e-wallets and others.

Equiti markets

Equiti offers trading in many markets, which we can group into:

• Currency pairs: it offers trading on 62 major, cross and exotic currency pairs.
• Precious metals: the company supports trading on 6 precious metals, most notably gold and silver.
• CFDs: the company supports trading these, allowing you to benefit from a financial asset’s movements without owning it.
• Stock market: the company allows trading on more than 240 shares of global companies, such as Apple, Facebook, Microsoft and others.

Equiti commissions

As for commissions at Equiti, they differ between accounts. It charges no commission on trades in the execution account but charges a spread starting from 1.4 pips. In the premium account it charges no spread, starting from 0.0 pips, but charges a commission starting from $70 per million dollars when trading currency pairs, and seven US dollars per contract — equal to 100,000 trading units — when trading precious metals.

Equiti also charges a 1% commission on deposits and withdrawals via Skrill and Neteller, while it charges no fees on the rest of the deposit and withdrawal methods, such as credit cards or bank transfer.

ADSS

ADSS is one of the leading companies in financial brokerage worldwide, covering many financial markets around the world, including the Middle East and the UK.

ADSS operates under official, fully regulated licences. Its activities are regulated by the Securities and Commodities Authority in the UAE and by the Financial Conduct Authority (FCA) in the UK. This ensures traders are offered distinguished financial services and products and guarantees transparency and credibility.

ADSS features

ADSS has a set of features, most notably:

• Holds licences from the UK financial regulator.
• It has a good track record going back to 2010.
• It offers distinguished educational content and market analysis to its clients.
• It offers three types of accounts to suit all types of traders.

ADSS markets

The company offers trading in many global markets, which can be summarised as:

• Forex: the forex market is one of the largest financial markets, where foreign currencies are traded against each other.
• Indices: ADSS allows trading financial indices that contain many stocks, such as the industrial index that holds the 30 largest companies in the United States.
• Stocks: ADSS allows trading on stock markets such as Apple, Amazon and Microsoft shares.
• Digital currencies: ADSS lets its clients trade digital currencies such as Bitcoin and others.
• Commodities: the commodities ADSS offers include gold, silver, oil and others.

ADSS commissions

ADSS charges no commission on trading accounts, but the spread size differs between account types. The account with the lowest spread is the Elite Plus account, and the account with the highest spread is the Classic account.

AvaTrade

AvaTrade is one of the prestigious companies in the trading field, with a history going back more than fifteen years, operating in financial brokerage in more than 151 countries.

The company holds a number of strong licences, including a licence from the Cyprus securities regulator (CySEC) and a licence from the Australian securities regulator (ASIC), in addition to other licences.

The company offers trading on more than fifty-five currency pairs, a number of indices, commodities and metals, plus ETFs and digital currencies.

AvaTrade features

AvaTrade has many features, most notably:

• Holds multiple licences worldwide, most notably a licence from the Cyprus Securities and Exchange Commission.
• The company has several offices worldwide, most notably in the UAE and Singapore.
• Offers a minimum deposit starting from $100.
• Offers an interest-free Islamic trading account.
• Offers many trading platforms, such as MetaTrader 4, MetaTrader 5, AvaOptions and others.

AvaTrade markets

AvaTrade offers trading on many markets, which can be summarised as:

• Currency pairs: AvaTrade offers 55 major, cross and exotic currency pairs.
• CFDs: AvaTrade lets its clients benefit from a financial asset’s movements without truly owning it, through CFDs.
• Stocks: AvaTrade allows trading on many global stocks, such as Microsoft and Tesla shares.
• Indices: an index gathers many stocks, such as the Standard & Poor’s 500, which includes more than 500 of the most active companies in the United States.
• Precious metals: AvaTrade lets its clients trade precious metals such as gold, silver and others.
• Digital currencies: AvaTrade lets its clients trade 20 digital currencies such as Bitcoin, Litecoin and others.

AvaTrade commissions

AvaTrade charges no commission on withdrawals and deposits, and it offers an interest-free Islamic trading account with no overnight interest or the like. The company offers a spread starting from 0.9 pips in the trading account it provides.

Admiral Markets

Admiral Markets, now under its new name Admirals, is a trusted financial services provider licensed by five financial regulators. Founded in 2001, it is one of the pioneers in providing online financial services. The company’s rebrand marks an important step in its history and its position as an integrated financial hub.

Admirals has a distinguished team with broad experience in financial markets and modern technology, aiming to provide the best services to its clients. The company is also known for transparency and immediate response to questions about trading and investment conditions.

Admiral Markets features

There are many features that place Admiral Markets on the list of strong brokers, including:

• Licensed by five strong bodies, most notably the Cyprus Securities and Exchange Commission and the Jordanian Securities Commission.
• Supports deposits from just $25.
• Has offices in the UK, Cyprus, South Africa and others.
• Offers an interest-free Islamic account without overnight riba interest.
• Offers many trading platforms, most notably MetaTrader 4, MetaTrader 5 and its own trading app.
• Supports many deposit and withdrawal methods.

Admiral Markets markets

Admiral Markets offers a wide range of financial markets that investors can invest in. These markets include:

• Base and counter currencies, including exotic currencies that may not be available in other trading markets.
• Investment funds and bonds — financial markets offering varied investment opportunities ranging between government and corporate bonds and exchange-traded funds.
• Commodities, such as gold, silver, crude oil and natural gas — essential materials in the global economy that are affected by global and economic changes.
• Major stock indices reflecting the performance of stocks on specific exchanges, such as the S&P 500, Dow Jones, Nikkei 225 and others. Opportunities to invest in precious metals such as gold and silver are also available, which are affected by global changes and represent a stable, safe investment.
• Energy, such as crude oil, natural gas and fuel — markets affected by developments in global policy and geopolitical and economic events.
• Stocks, investment funds and bonds, which offer varied investment opportunities.

Admiral Markets commissions

Admiral Markets charges fees on withdrawals, which are free if you withdraw only twice a month.

Admiral Markets also offers interest-free Islamic accounts free of riba interest and the corresponding overnight fees. The company offers a low spread starting from zero pips on some accounts, and on other accounts from 0.5. In addition, the company charges a fee when trading stocks estimated at $0.02 per single share.

How do you choose the best licensed brokers in the UAE?

There are many brokers in the UAE that want to attract a large number of traders, since the UAE is among the best countries economically in the world.

So we have summarised the best criteria to help you choose the best brokers in the UAE.

1. Choose a well-reputed, licensed broker

The main purpose of these regulatory bodies is to monitor how the forex market works on these platforms and companies, protect investors’ trades and safeguard their money.

There is a set of local and international licences that back the dealings of brokers in the UAE, which we mentioned at the start of the article.

So when choosing a broker, the trader should make sure the company has a branch inside the UAE, which confirms it is subject to a trusted local or international regulator.

2. Trading platforms and smartphone apps

Most investors prefer to trade through a platform suited to a mobile phone or a computer.

So when choosing a trading platform, make sure it supports smartphone apps and also gives you the various indicators to identify market price trends.

3. Customer service

When choosing a trading platform, the trader should choose a broker with good customer service that works 24 hours a day.

You should also choose a company that responds to client requests within a short time.

4. Deposits and withdrawals

When choosing a broker, the trader should choose a company that offers different deposit methods, such as credit card, bank transfer and e-wallets; some also offer deposits via digital currencies such as Bitcoin.

The trader should choose a platform that confirms the withdrawal automatically; as for the money reaching the trader’s bank account, the maximum time should be up to 5 days only.

At the end of the article, you should be cautious when getting into forex trading, since it is fraught with risk due to the volatility of stock and currency prices. You should also consult specialists and learn which trusted, licensed trading platforms operate in your country.

Frequently asked questions

What are brokerage firms?

Brokerage firms are companies that provide trading services to clients, whether in the stock market, the currency market or any other markets. These companies make it easier to buy and sell financial instruments such as stocks, bonds, commodities and currencies.

What are the trusted platforms for trading?

There are many trusted trading platforms, some free and some paid. Among them are the MetaTrader platform and the TradingView platform.

What are the best brokers in the UAE?

There are many brokers in the UAE. The companies mentioned in this article are among the trusted, strong companies with a good reputation in the UAE.

How do I know a company is licensed?

You can verify a company’s licences through the official bodies responsible for regulating capital markets in each country. In the UAE, for example, you can verify licences through the Securities and Commodities Authority. It is always advised to choose licensed, trusted companies to avoid fraud and scams.

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