Forex Brokers in the UAE

Richard Montana | November 22, 2022

Forex trading in the United Arab Emirates is very popular, with many forex brokers accepting UAE clients. It can be considered beneficial for residents to choose a broker that is regulated by the Securities and Commodities Authority (SCA) to provide forex brokerage services in the United Arab Emirates. The SCA of UAE is the regulatory authority for governing all non-banking financial activities including but not limited to forex trading, CFD and other online activities. However, this is not a requirement and there are many other forex brokers that are regulated in other top tier jurisdictions who welcome traders from the UAE.

Best forex brokers United Arab Emirates

To find the best forex brokers in United Arab Emirates (UAE), we created a list of all forex brokers that state they can accept traders and investors who are based in the UAE, then ranked them according to their overall rating. You can see the list we compiled of our top forex brokers in UAE below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, CIMA, CFTC, FCA, FSA, IIROC, JFSA, NFA, SFC

$100

2001

1:50

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

DFSA, FCA, FINMA, MFSA, SFC

$1,000

1996

1:100

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Securities and Commodities Authority (SCA) forex brokers in the UAE

The Central Bank of the UAE has created regulations for its licensed financial institutions to ensure the adequate organisation, supervision and development of all financial services companies in the UAE.

The UAE Securities and Commodities Authority (“SCA” or sometimes referred to as “ESCA”) is tasked with monitoring and regulating the UAE’s financial markets including the Dubai Financial Market (“DFM”), the Abu Dhabi Securities Exchange (“ADX”) and the Dubai Gold & Commodities Exchange (“DGCX”).

Founded in 2000 as part of a federal decree, there are a number of aims that power the SCA, but for traders and investors the most important is its supervision and monitoring of UAE financial markets.

  • Putting procedures in place to develop a stable economy for the country, and to attract investment from all over the world
  • Supporting good practices of all participants in the financial markets
  • Offering the best service as regards quality, transparency and efficiency
  • Ensuring that investor rights are protected along with those of other market participants.

SCA is to administer the required legislative framework so the UAE-based capital markets can develop without a hitch, promote transparent practices in all aspects of the markets, secure different layers of the markets against fraudulent activities, and put into effect all the innovative approaches that could enhance the traders’ experience.

The SCA collaborates with the Central Bank of the UAE, Ministry of Finance, Ministry of Economy, Abu Dhabi Global Market, Dubai Financial Market, and Abu Dhabi Securities Exchange, amongst others.

In parallel with SCA, UAE also has two financial free zones namely Dubai International Financial Centre (DIFC) in the Emirate of Dubai and Abu Dhabi Global Market (ADGM) in Abu Dhabi offering activities of Forex Trading, CFD and other online non-banking financial trading. Dubai Financial Services Authority (DFSA) in DIFC is an authority explicitly established to regulate forex brokers or companies performing non-banking financial activities incorporated in DIFC.

How to verify SCA regulated brokers in UAE

UAE is home to some of the largest high-net-worth individuals in the world, and Forex trading is proving to be an extremely attractive proposition to traders from the UAE. The SCA UAE changes its regulations and provides new legislations to ensure that the UAE financial markets can keep with the current trends in the global financial markets.

To check if a forex broker is regulated in the United Arab Emirates by the SCA, you will need to contact them directly to verify the registration as they do not provide a readily available list of forex brokers that are SCA regulated.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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