Best Forex Brokers in UAE 2020
Choosing the right broker for forex trading in UAE may not come as a simple job for many, especially those who are new to the market. Before you begin to browse through the lists of forex brokers, you must know the different types of brokers there are – i.e.
ECN brokers and market makers – to handle your forex transactions.
TOP 5
The Best and Most Trusted Forex Brokers in June 2020
The below top rankings have been assigned by our Forex Experts Team’s tested methodology
| Broker Name | Min. Deposit | Trading Platforms | Deposit Methods | Bonus | Min. Spread | Max Leverage | Regulated By | Open Account |
 | 100$ | MT5, Mobile App, Webtrader | Visa, Master Card | No Bonus | 0 pips | 1:30 | CySEC, FSCA, ADGM (FSRA) | Open Account |
 | 100$ | Mobile App, Webtrader | Bank Transfer, Visa, MasterCard | $3000 bonus | 1 pips | 1:300 | Seychelles Financial Services Authority | Open Account |
 | 100$ | Mobile App, Webtrader | Visa, Master card, Pay Pal, Skrill, Netller, Union Pay, Web Money, Yandex | 50% Bonus | 0 pips | 1:50 | CySEC, FCA, ASIC | Open Account |
 | 10$ | MT4, MT5, XM WebTrader | Visa, Master Card, Union Pay, Nettler, Skrill, Cash U, Bitcoin, Bank Transfer | $30 bonus | 0.6 pips | 1:500 | CySEC, IFSC, FCA, DFSA Dubai, Asic | Open Account |
FOREX
Brokers
ECN or Electronic Communications Network brokers are those who match your trades with other traders by passing your orders on to liquidity providers like banks or other financial institutions.
On the other hand, the market makers act as middle-men who continuously buy and sell a currency at an openly quoted price in the OTC market.
This is an important decision because the type of broker you choose can directly impact the quality of service you receive, as well as your transaction fees and dealing spreads. Choosing the right ones among the sea of brokers can be tough as some of them are legitimate while others are illegal and deceptive.
Stories of traders falling victims to scams by illegal forex traders are not unheard of. This usually happens when new or aspiring forex traders enter the market and make decisions that are impulsive and unwise. This can be voided by studying the market, types of brokers, as well as doing a comparative analysis.
FAQ
Frequently Asked Questions
How Profit is Generated in Forex?
We buy and sell items daily in normal market and we buy at lower price and sell at higher price with a good margin, same in forex we buy a currency at lower price waits for price to go high and we sell the currency pair goes high, i.e we buy 100,000 (1 lot) EUR/USD 1.13810 and price moves up to 1.13910 so it moves 10 Pip that means after closing EUR/USD you earn 100$.
What is Forex Trading?
Forex stands for foreign exchange market or currency market, it’s a market where we trade one currency against other. If you wish to buy British pounds so you will go to currency exchange and i.e give US Dollars and get British Pounds in return this is called Forex or currency exchange or foreign exchange market.
How to Start Forex Trading?
We have a list of the top Forex brokers, listed on our website, you can choose one of them to open your 1st Trading account. The brokers we list are Trusted Brokers, we only list the Best and the most Trusted brokers out there for you.
How Much Money Do I Need to Start Forex Trading?
Different brokers have different limits to start Forex trading starting from 10 $ to Millions but we recommend to start starting from 250$ and if you have good money you can go up to as much you like.
What Are Long and Short Positions in Forex?
Long means Buy Position and when currency pair goes up investor makes profit. Short position is called Sell position means when currency pair goes down investor get profit.