Choosing the best CFD broker in the UAE requires some serious skills. In this guide we offer you technical explanations and opinions about the best CFD brokers for trading online. Each forex CFD in Dubai has been thoroughly tested by our team of experienced forex traders.
We compared: range of offerings, regulation, cost, and customer service.
Best CFD Brokers in Dubai
Regulation is the most important element to define the reliability of a broker and in Dubai. In order to operate in the sector, in addition to being regulated, a broker must also be registered in the register of the Dubai Financial Services Authority (DFSA) in the UAE, the institutional body responsible for monitoring financial markets in Dubai
If a broker does not show data relating to this aspect, he cannot legally operate in Dubai. Since it is not always easy to recognize licensed Forex brokers from those who are not, we decided to write this guide that includes the best regulated Forex brokers in Dubai.
Do you want to immediately find out which ones are the best? Here is the Dubai CFD broker list for 2024:
It should also be said that almost all these Forex brokers have offices abroad and only branches in Dubai. In any case, it is not so important where a broker is based, but as long as they are regulated and authorized, they can offer the right guarantees to traders. When it comes to your money, make sure you only invest it with 100% reputable CFD brokers.
What is the best Dubai CFD broker?
After presenting our selection of CFD brokers in Dubai, let's now see which the best is.
Pepperstone
Pepperstone is a wholly-owned company to Pepperstone Group Limited, an Australian-based business founded in 2010 and has rapidly grown into one of biggest Forex brokers.
image credit: Pepperstone
Pepperstone Limited launched in Dubai in 2020 while expanding its services to meet the needs of UAE customers through local access. In general, the group has offices in the main financial destinations of Melbourne, Dallas, Bangkok and London.
Pepperstone offers traders rapid trade execution across various trading platforms comprising cTrader, MetaTrader 4, and MetaTrader 5.
Over the last one year, the firm has seen a significant increase in its customer base. The rapid growth was possible by the low commissions and spreads along with a wide array of tools.
In actual fact, Pepperstone strives to propose the most beneficial options to traders and has been recognized with many awards that Pepperstone regularly won as well as glowing reviews from traders themselves.
Products Offered
Clients have the option of choosing from over 150 tradable instruments in an array of asset classes in the financial market comprising more than 80 currency pairs CFDs in cryptocurrency as well as precious metals and stocks.
Read More: Best Forex Brokers in Dubai 2024
Regulations
Pepperstone is regulated by the Dubai Financial Services Authority (DFSA) in the UAE, the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC) in Australia.
Cost
Pepperstone earns the majority of its charges from its tight spreads and commissions that are low. This creates an unique, low-cost setting for traders to construct their portfolios. Fees for trading are affordable. The average spread for the currency pair EUR/USD for accounts with Razor accounts is 0.13 pip plus a fee of $7. The commissions for the Razor account for Forex trade are equal to 7 units of base currency in each round (out as well as in). The spread average on Standard accounts is 1.13 pip and the account is completely commission free.
Customer Support
Pepperstone provides support to customers via three channels:
Chat
Phone
In all three instances help is available in a variety of languages you prefer and is available all hours of the day between Monday and Friday.
Of the three channels available The fastest of them all is live chat. In a matter of seconds, you are connected to an operator, and you are able to get assistance or an answer to any of our questions.
Read Full Review of Pepperstone
Pros and Cons
- Well regulated
- Quick and easy account opening.
- Lower than average spreads and commissions.
- No minimum deposit.
- No downtime or hidden costs.
- Moderate number of tradable assets.
If you want to trade with Pepperstone, use the following link open a live account:
BlackBull Markets
According to our review, BlackBull Markets is a New Zealand based brokerage company.
image credit: BlackBull Markets
BlackBull Markets was founded in 2014 in Auckland, New Zealand by a team with a combined decade of institutional forex experience.
BlackBull Markets is experiencing rapid growth due to its premium trading tools and product offerings, as well as its ability to provide cutting-edge financial and technical services to clients.
As part of an overall exceptional customer experience, the company offers professional services such as personal account managers, daily market updates and analysis.
Products Offered
BlackBull Markets offers clients in Dubai the opportunity to trade Forex, CFDs, Commodities, Precious metals and Energies. This broker also provides institutional-grade trading conditions to their clients with exceptional customer service and support.
Regulations
BlackBull Markets is a New Zealand company registered with the Financial Services Providers Register (FSPR), registration number FSP403326.
Providing clients with an electronic registry to view information about FSP companies and assisting in meeting international AML/CFT obligations provides clients with increased transparency.
BlackBull Markets is also a member of the Financial Information Service (FSCL) and has a strict Anti-Money Laundering (AML)/Counter-Terrorist Financing (CFT) policy to ensure ethical business conduct.
ANZ Bank, one of the leading banks in Australia, is their banking partner.
Cost
Trading costs depend on various factors such as commissions, spread and margin. The standard BlackBull Markets account, when trading a currency pair, has a minimum cost in both directions, at least 0.8 pips without commission.
The main account, when trading EUR/USD, has a minimum cost in both directions, a minimum of 0.1 pips plus a commission equivalent to 0.6 pips. Thus, the owners of this type of account will never pay less than 0.7 points.
The institutional account has minimum and negotiable commission rates. This makes for a great deal for large depositors with at least $20,000 in cash. BlackBull Markets does not charge any account inactivity fees.
Customer Support
Have any question or complaints? You can contact BlackBull Markets for help through Live Chat, International Phone Lines and emails for support.
Read Full Review of Blackbull Markets
Pros and Cons
- Responsive Customer Support
- Regulated by FMA and FSA
- Commission-free trading accounts offered
- Access to prime liquidity providers
- Low Spreads and high leverage.
- Customer service is not available 24/7
If you want to trade with Blackbull Markets, use the following link open a live account:
XM
XM is the online forex trading platform of Trading Point of Financial Instruments Ltd based in Cyprus.
image credit: XM
Sponsor of Usain Bolt, XM has been present in the sector since 2009 and has never stopped growing and implementing the resources to offer to its customers.
XM boasts to have more than 350,000 active traders working in more than 196 countries.
Products Offered
The XM broker provides you with the option of trading across a variety of markets, including Forex, Commodities, Stock Indices, Precious Metals and Energy Products.
Trading Forex using the XM broker is a way to have more than 55 currencies available both the main and the exotic. The leverage on the Forex market can be as high as 30:1 and with spread that is low.
If you are also into Forex trading, we recommend you the following three forex brokers.
Regulations
XM is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), the Australian Securities and Investments Commission (ASIC 443670) and by the Financial Conduct Authority (FCA 705428).
Cost
The cost of trading with XM depends on the account you decide to open. The Micro and Standard accounts have an average spread of 1.5 pips, while the zero one of 0.7 pips. Deposits and withdrawals of money are always free, except in the case of wire transfers under $200.
Customer Support
XM offers assistance to customers in Dubai through the following channels:
- Via chat
- By email
- By telephone
Even before contacting customer support, it might be useful to consult the rich FAQ section on the broker's website: here you can find many useful answers to the most varied questions.
Pros and Cons of XM
- Regulated: CySEC , FCA, ASIC etc;
- Unlimited Demo Account;
- Live training;
- Free Trading Webinar;
- Minimum deposit of $5;
- Mobile platforms for iOS and Android;
- Suitable for beginners and advanced;
- US clients not accepted
If you want to trade with XM, use the following link open a live account:
AxiTrade
Axi, founded in 2008, is an Australian ECN broker domiciled in Sydney. It offers two accounts to choose from, Standard and Pro, both of which offer a selection of 61 currency pairs, metals and CFDs. It provides benefits for new and advanced traders, plus beginner traders can benefit from free training on Forex fundamentals. AxiTrade offers a demo account with a virtual cash balance of $50,000 that can be used for 30 days.
Products Offered
In addition to forex, Axi also offers options for trading gold, silver, oil, indices and CFDs.
Regulations
Axi is regulated by some of the well-known regulators: the FCA in the UK, and also by ASIC in Australia.
Cost
The cost of trading with Axi depends on the account type. There have only two accounts types: Standard, and Pro .
In the standard account, the minimum deposit threshold is $200 and the spread is 0.6 pips.
The Pro account needs a minimum deposit of $1000 and has a low spread starting at 0.1 pips. There is no commission charged on the standard account and the Pro account takes $7 round trip which is quite unusual in the Forex industry.
Customer Support
The broker's trading desk is open 5 days a week starting at 7:00am on Monday morning and ending at 07:00am on Saturday morning. With offices in Sydney, London, Dubai and Chisinau for 24/7 trading, support is available at almost any time. Customer assistance is available in six countries, and in 12 languages.
Live chat is available only during normal business hours. However, traders are able to request an appointment even if they're not registered as a member. Traders can also contact the toll-free phone number for the company from Dubai.
Pros and Cons
- Regulated
- demo-account
- Accept US Traders
- Choice of Different Platforms
- Low fees
- No Bonuses or Promotions
If you want to trade with AxiTrade, use the following link open a live account:
HYCM
The HYCM brand belongs to the international financial holding Henyep Group, which not only provides services in the Forex market, but also works in real estate, education and charity. The group itself was founded back in 1977, however, the HYCM broker began to function in 2007. Since then, he has served clients from many countries around the world, including Dubai.
image credit: HYCM
The company's head office is located in London at Throgmorton, 28, 3rd floor. The company's activities are controlled by several regulators.
The company has 15 different international awards, has been operating in the financial market for over 40 years, and has been providing Forex services for 11 years. Therefore, many traders speak of this broker only on the positive side, which also inspires confidence in them.
Products Offered
HYCM is a large forex broker offering over 100 financial instruments: a wide range of currency pairs, various CFDs on indices, commodities, stocks and precious metals, available on MT4 and its own web platform. The company also provides binary trading with its HY Options brand.
Regulation
HYCM is incorporated in the United Arab Emirates and regulated by the DFSA. This broker is also authorized and regulated by the UK's FCA, the CySEC the SFC in Hong Kong.
Cost
Customers need only an initial deposit of $100 before they can trade using HYCM free of charge. If the withdrawal amount is lower that $300, then the user is required to pay $30 for the transaction fee. This is only applicable only to Bank Wires. All other withdrawal method fees can be covered through HYCM.
In addition, on the Forex account they are charged fees of $4 with a floating spread of 0.2 pip. But, the traditional Fixed and Classic accounts do not charge any commissions.
Customer Support
To ask any question about trading, opening an account or withdrawing funds, the client can contact:
- in an online chat on the broker's website;
- by phone +44-207-330-90-21;
- at the address of the company: Great Britain, Throgmorton, 28, 3rd floor;
- write an email to info@hymarkets.com.
- Consultation is available 24/5 from Monday to Friday.
Pros and Cons
- Copy-trading
- MT4 and MT5 integration
- Good customer opinions online
- Regulated by multiple financial bodies
- No withdrawal fees
- Monthly inactivity fee
If you want to trade with HYCM, use the following link open a live account:
Conclusion
So, now you have the list of top 5 CFD brokers in Dubai. It is up to you to decide which one suits your needs and wants the best. Do your research, compare their features and make a decision that will benefit you in the long run. Remember, always go with a broker that offers good customer service and has a reliable trading platform.
Best CFD Brokers in Dubai 2024
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