The United Arab Emirates has been widely known as a major international financial center for quite a while now, so it is not surprising that there are many traders in the country looking for reliable brokers with convenient trading conditions. If you’re one of such traders, read on: in this Traders Union article, we’re going to analyze the top 3 best options and explain all their pros and cons to help you find what best fits your needs and preferences.
Trading in the UAE
The UAE’s financial market is thriving: there are lots of opportunities supported by a friendly economic environment, political stability, and beneficial legislation. Traders from the UAE seem to prefer trading stocks, currencies, and commodities, but you can buy and sell any other assets here as well. The two largest exchanges in the country are DFM (Dubai Financial Market) and ADX (Abu Dhabi Securities Exchange), but there are numerous other platforms you can choose.
Of course, there are many brokers operating in the UAE, so you should be very careful when trying to choose the best of them. The most essential thing to check out is how a broker is regulated. The main regulatory organization in the country is the Central Bank of the UAE, and each legit broker must have a license issued by the regulator. However, there are many other aspects you should consider as well, so let us present to you our own choice of the top 3 most convenient UAE brokers.
eToro is a well-known international broker that’s widely considered a great choice for novice traders. It has an extremely convenient copy trading service that allows you to replicate trades of expert traders, potentially earning significant money without having to trade actively. You can choose among so many different assets here, and the minimum deposit is just $50. The broker also has a demo account and a special Islamic account.
IC Markets is another reputable broker with a great choice of tradable assets. With a minimum deposit of $200, it’s not that convenient for complete beginners, but experienced traders can benefit from tight spreads and high leverage rates.
RoboForex is one of the leading brokers in the world. It allows you to start trading with $10 and offers many different assets, including Forex pairs, ETFs, lots of CFDs, and so on.