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Trading forex (currencies) in the United Arab Emirates is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Commodities Authority (SCA) to accept residents of the United Arab Emirates as customers.
The Securities and Commodities Authority is the financial regulatory body in the United Arab Emirates. Website: https://www.sca.gov.ae. We recommend that United Arab Emirates residents also follow the SCA on Twitter: https://twitter.com/sca_uae.
The SCA was established in 2000 and is responsible for supervising and monitoring the markets in the United Arab Emirates. For a historical breakdown, here's a link to the Securities and Commodities Authority webpage on Wikipedia.
Best Forex Brokers United Arab Emirates
To find the best forex brokers in the United Arab Emirates, we created a list of all brokers that list the United Arab Emirates as a country they accept new customers from. We then ranked brokers by their Trust Score Ranking.
Here is our list of the best forex brokers in the United Arab Emirates.
- IG - Best Overall Broker 2020
- Plus500 - Best for beginners overall
- Swissquote - Best banking services
- Saxo Bank - Best VIP client experience
- FOREX.com - Great platforms and pricing
- City Index - Excellent all around offering
- XTB - Best customer service, great platform
- HYCM (Henyep Markets) - 3.5 Stars
- Pepperstone - Numerous copy trading platforms
United Arab Emirates Forex Brokers Comparison
Compare United Arab Emirates authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Trust Score.
| Forex Broker | Accepts AE Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Visit Site |
|---|---|---|---|---|---|---|
| IG | Yes | 0.700 | £250.00 | 99 | Visit Site | |
| Plus500 | Yes | 0.600 | €100 | 99 | N/A | |
| Swissquote | Yes | N/A | $1000.00 | 99 | N/A | |
| Saxo Bank | Yes | 0.600 | $10,000.00 | 98 | N/A | |
| FOREX.com | Yes | 1.00 | $50.00 | 93 | Visit Site | |
| City Index | Yes | 0.800 | £50.00 | 93 | N/A | |
| XTB | Yes | 0.780 | $0.00 | 92 | N/A | |
| HYCM | Yes | N/A | $100 | 84 | N/A | |
| Pepperstone | Yes | 1.130 | $200.00 | 83 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 81 | N/A | |
| easyMarkets | Yes | 0.900 | $100.00 | 81 | N/A | |
| ThinkMarkets | Yes | N/A | $250.00 | 79 | N/A | |
| Vantage FX | Yes | 1.400 | $100 | 79 | N/A | |
| IC Markets | Yes | 1.100 | $200 | 73 | N/A | |
| ForexTime | Yes | 0.80 | $100 | 70 | N/A | |
| Alpari | Yes | 0.92 | $100.00 | 69 | N/A | |
| Instaforex | Yes | N/A | $1 | 69 | N/A | |
| UFX | Yes | 3.00 | $100 | 66 | N/A | |
| iTrader | Yes | 0.700 | $250 | 66 | N/A | |
| FX Choice | Yes | N/A | $100 | 54 | N/A |
How to Verify SCA Authorisation
Unfortunately, the SCA does not provide a list of authorized forex brokers; however, residents can contact the SCA directly to verify authorisation.
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Methodology
For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.
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"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
