Why Invest in Forex in the United Arab Emirates? [Best forex brokers UAE in 2022]

Dubai is a city in the United Arab Emirates known for its luxurious commerce, ultra-modern architecture and lively nightlife. One of the fastest growing regions in the world, it is now considered a financial centre of the Middle East, where the population has a high purchasing and economic level and continues to seek investment ideas.

Choosing a UAE Forex broker today is a very responsible decision before creating an account and making your first deposit. This type of decision can have a great impact on the investor's success in Forex trading, hence the importance of choosing the best forex brokers in the Arab market, otherwise, the investor could lose all his investment. One of the ways to protect our money is to choose a licensed or regulated broker, preferably regulated by the official body of the country where it is located, as one of the common requirements set by the regulatory bodies is that the deposited funds are kept in separate or segregated accounts, offering the guarantee that your capital is kept apart and should not be used to pay internal or external debts of the company.

In the United Arab Emirates, Forex brokers, whether they are local or foreign companies, are required to obtain a license from the Central Bank of the UAE, as this is the main regulatory body in the UAE without taking into account the Dubai International Financial Center, which has an internal regulatory body. Brokers who are under the regulation of the CBUAE are authorized to sell and trade local and foreign shares. They are also allowed to trade in financial instruments if they pay the appropriate commission.

Below you will find a list of the four best forex brokers of 2022 in this area of the Middle East:

EXNESS

EXNESS is a Russian online broker founded in 2008 where you can invest in more than a hundred financial instruments, with a great reputation for professionalism and transparency.

Thanks to its sophisticated software it is able to coordinate orders executed by clients at the best market prices. Its growth rate has reached 300,000 active monthly clients, which means a large volume of operations, reaching no less than a trillion dollars!

Exness is not a fraud; rather, it functions in accordance with local laws.

The isso 90.01 2.2008 certification, endorses the Exness quality management system at the international level.

MAIN CHARACTERISTICS

Unlimited leverage from 1:2 to 1:2000 and above.
Over 30 commission-free deposit and withdrawal methods.
Access to different platforms depending on your needs.
Reimbursement in case of insolvency.
Quick cash withdrawal.
Specialized technical support.
Exclusive affiliate program.
Daily study and analysis.
Has a free demo account
Uses Greenwich Mean Time

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XM GROUP

In 2009, XM Group broker was founded and launched on the market with accounts with different and complete platforms, such as MT (metatrader) developed by metaquotes corporation.

As a multi-line broker it has a wide range of classes covering 16 trading platforms, 7 types of assets and 1300 financial instruments, more than 5 cryptocurrency CFDs, covering some of the most famous cryptocurrencies such as Bitcoin or Ethereum.

Standing out for its advanced trading platform, offering flexible trading conditions to reach any type of investor globally, and not forgetting its industry expertise that differs from years of in-depth examinations and analysis of financial markets around the world.

MAIN CHARACTERISTICS

This broker offers services of the highest quality, including trading in energy, currency pairs, precious metals, CFDs and stock indices.
Its business philosophy is based on loyalty, thus ensuring investor satisfaction already, because for XM Group reputation and credibility are intimately linked.
They offer a wide range of learning opportunities for investors of all levels, including educational workshops around the world to train clients with more efficient and effective skills, so that in the not too distant future they will be able to make better decisions in the markets.
Works with the MT4/MT5 trading platform, as well as more than 15 types of platform terminals.
24 hours customer support 5 business days a week.
Demo account for investors to experience the platform first hand.
Leverage up to a total of 1:800.
Negative balance protection policy.
Zero deposit and withdrawal handling fee

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FP MARKETS

Fp Markets was born in Australia in 2005, it is formed as a group of companies that includes parties prudential markets pty Ltd, for operations, foreign exchange and derivatives is handled by a provider that is regulated by ASIC and FP markets LLC, whose company is registered in St. Vincent and the Grenadines with a license number assigned as a matter of course.

The one that is licensed by the Cyprus Securities and Exchange Commission is first prudential markets Ltd.

The feature of Fpmarkets is that it does not accept applications from residents of the country or jurisdictions where the laws and regulations are contrary to the local ones.

MAIN CHARACTERISTICS

One of the characteristics of this broker is that its income is generated through commissions and fees associated with the trading method.

The fees and commissions that this broker contains can be divided into two types:

Operational Commissions: These are generated when the investor trades with either currency pairs, incidents or shares among others (financial assets of the platform).
Non-Operating Commissions: These are other services not associated with the operation that the broker charges to the client, such as withdrawals or currency exchange.

As for withdrawal and deposit fees with FP Markets you will not have any problems as there is no additional charge, even if you deposit with international wire transfer an amount over $10,000, they will take care of the fees up to $50! But, if it is a withdrawal they will charge a commission of 10$.
If you want to use another method, like Skrill (1% commission), FastPay or Perfect money (0.5% commission), with DragonPay (1.5% commission) and Neteller (2% up to 30$ commission).
If we talk about Fees IressTrader has a membership fee of 55$ per month, the ASX of 20$ + taxes. It should be noted that they do not charge any inactivity fees.
FP Markets has a course on its platform aimed at beginners, and for those who already have more experience they could use it to learn a few more things, as they teach you from the basics of trading and currencies to how to interpret the market, as well as a demo account for beginner investors.
Retail leverage reaches 1:30 and wholesale leverage 1:500
The minimum deposit is 100 dollars and has a multitude of financial instruments on currencies, commodities, stocks, cryptocurrencies and even indices.
Multilingual customer service is available in twelve languages, 24 hours a day, 7 days a week.
FP Markets offers several withdrawal and deposit options for clients to choose from. These deposit and withdrawal methods include VISA / MASTERCARD MT4 / MT5, NETELLER or Skrill among others.

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BLACKBULL MARKETS

BlackBull markets is fully licensed under New Zealand law, it joined the group in 2014 and is registered as a financial services provider with FSP, since 2020 licensed under the Financial Markets Authority.

It is worth noting that in order to be a member of FSPR each company must be a member of an independent dispute resolution scheme.

If we get into the history of Blackbull markets, we can appreciate that it was launched in 2014 before the introduction of New Zealand's new formal regulatory regime.

This company undertook its business as a financial services provider on a registered basis, until it was licensed by the FMA in 2020.

BBG limited also purchased a license from the Seychelles financial services authority, as this famous destination has been regulated by dozens of CFDs and brokers, providing an international investment service.

Deloitte fast 50 has been able to count Blackbull on its lists at various times, as it is one of the fastest and fastest growing New Zealand companies in the technology sector. What makes this company unique is that its managers and owners are seen as village figures and brand ambassadors in local New Zealand fintech.

MAIN CHARACTERISTICS

The financial instruments offered by the broker include indices of the main markets, precious metals such as gold and silver, more than 64 currency pairs and commodities such as energy, gas and oil.
There are three account types (Standard, Prime and Institutional). For the Institutional account the minimum deposit is US$20,000 and commissions are negotiable from 0 pips. For the Standard account the minimum deposit is US$50 and no commissions with spread from 0.8 pips. As for the Prime account the minimum deposit is $2,000 and a commission of $6 per lot, with a spread from 0.1 pips.
The maximum leverage for all the above-mentioned accounts is up to a total of 1:500.
The broker offers beginner traders a demo account that expires after 30 days, in order for them to put their financial tactics into practice.
The platforms offered are MT4 and MT5. Both platforms are developed by MetaQuotes, a classic in the trading industry.
The customer support service works 24 hours a day, 6 days a week, to provide the investor with the necessary assistance.
Offers high liquidity and fast execution.
It has VPS hosting trading for MT4 and expert advisors, as well as an affiliate service.
Its payment methods are Skrill bank transfer, credit card, Neteller, and UnionPay among others.

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