The majority of the above brokers hold a financial license from ADGM (Abu Dhabi Global Market) or DFSA (Dubai Financial Services Authority). This grants United Arab Emirates traders a great layer of protection in the event of any dispute as complaints can be dealt with locally. In the particular case of those brokers that don’t hold one, we still decided to include them due to being reputable choices amongst United Arab Emirates traders.
Each one of these brokers was analysed using our proprietary methodology.
Pepperstone is an Australian broker founded in 2010 with the aim of providing a professional trading experience with low fees and tight spreads. Currently Pepperstone counts with 7 financial licenses and operates in almost every country around the world.
Key data
EUR/USD Spread
Dynamic - From 0 to 0.77 Pips
Commissions
For Standard account : All fees included in the spread
For Razor account: From $7 per Lot round turn
Minimum Deposit
$200
Financial Regulators
BaFin, FCA, ASIC, DFSA, CySec, SCB, CMA.
MT4
Yes
MT5
Yes
cTrader
Yes
TradingView
Yes
Proprietary Platform
No
Pepperstone holds 7 licenses from which 4 belong to high tier financial regulators. They are one of the industry’s leaders when it comes to providing a multi-platform trading environment and RAW spreads with fast execution.
The Good
The Bad
Well regulated on several jurisdictions
Low latency, fast execution under 30ms
Competitive spreads and low commissions from 0.0 pips on their Razor account
Avaliable asset offering is not that comprehensive
No ability to purchase real stocks or cryptocurrencies, only CFDs
If you’re a MetaTrader 4 lover, Pepperstone has got you covered regardless of your level of experience. As a beginner you’ll be able to learn with their educational resources and if you’re a professional you’ll be able to jump right in with a RAW spreads account with low commissions.
AvaTrade is a top-tier multinational broker with more than 7 financial regulators specialising in FX and options trading with their own proprietary platforms.
Key data
EUR/USD Spread
Dynamic - From 0.9 Pips
Commissions
None
Minimum Deposit
$100
Financial Regulators
ASIC, FFAJ, CBI, IIROC, CySec, FSCA, ADGM, ISA.
MT4
Yes
MT5
Yes
cTrader
No
TradingView
No
Proprietary Platform
Yes
AvaTrade holds over 8 licenses from which 6 belong to high reputation financial regulators (being one of them ADGM). Their specialty was crafting a product offering based on currency options which professional traders find quite appealing.
The Good
The Bad
AvaProtect feature for negative trades payback
Great variety of platforms (proprietary ones, MT4 & MT5)
Smooth platform experiences and easy account management
Custom Options trading platform
Lack of variety in stocks, ETFs and bonds
Expensive inactivity fees
No multi-chart tools
High trade minimums in all assets except forex
AvaTrade's biggest selling point is providing currency options via their proprietary trading platform and also having the option to trade via MetaTrader 4.
XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.
Key data
EUR/USD Spread
Dynamic - From 1.7 Pips
Commissions
Yes on Zero accounts ($7 per lot round turn).
Minimum Deposit
$5
Financial Regulators
ASIC, CySec, ADGM.
MT4
Yes
MT5
Yes
cTrader
No
TradingView
No
Proprietary Platform
No
XM holds 3 licenses from which 2 belong to high tier financial regulators (being one of them ADGM). Their specialty was crafting a solid entry-level offer for beginner traders looking to trade on low volumes.
The Good
The Bad
Competitive commissions on their Zero account
Modest asset offering of 1500+ tradable instruments (similar to competitors in the same range)
No proprietary platforms or technology
Expensive spreads and trading fees
Lack of asset variety when compared to other brokers in the same range
XM offers an account called “Ultra Low” where the average spread on all major currency pairs is as low as 0.6 Pips with a minimum deposit of $5. All of these offers combined with MetaTrader 4 make them a very attractive choice for beginner to intermediate traders looking for a cheap option to get started.
IG is a global broker established in 1974 that holds 8 reputable financial licenses and provides CFD trading on stocks, commodities, ETFs, indices, cryptocurrencies, bonds, futures, options along with real stocks through their share dealing account.
Key data
EUR/USD Spread
Dynamic - From 0.6 Pips
Commissions
Yes, they charge depending on the client’s account base currency and exchange location of the shares being traded. For example, for some clients US shares can have a minimum charge of $10 in-and-out.
IG has been around since 1974 and holds 8 licenses from which 7 belong to high tier financial regulators (being one of them ADGM).
The Good
The Bad
Broad platform offering with high customisability and integrated news feeds
Comprehensive asset offering with more than 10,000 + CFDs or real stocks and ETFs
There are too many small costs such as custody, in-and-out-commissions in some cases, management fees, etc
Their standard contracts can be too large some times for low volume traders
IG offers over 10,000+ financial instruments with the possibility of adding more at the customers’ request by subscribing to different data connections from several exchanges over the world. If you’re an experienced trader with a decent capital, you won’t be scared by IG’s commissions when it comes to shares trading. On the other hand, if you’re a beginner or a low volume trader, you’re likely to find a much better option for you out there.
City Index is a global broker founded in 1983 that holds 4 financial licenses and offers advanced trading platforms, mobile apps, diverse market research tools and an extensive range of markets.
Key data
EUR/USD Spread
Dynamic - From 0.8 Pips
Commissions
Spread betting markets have no commission
CFDs or FX trading has no commission as well (except equities: shares & ETFs)
Equity commissions depend on the market’s location (eg: UK and Europe have a 0.08% of transaction value fee, US equities and Asian ones have different percentages as well)
The minimum equity commission rates are $10, £10 or 10€.
Minimum Deposit
$100
Financial Regulators
FCA, ASIC, MAS, ADGM.
MT4
Yes
MT5
No
cTrader
No
TradingView
Yes
Proprietary Platform
Yes
City Index is part of the StoneX Group, a publicly traded company. They have been around since 1983 and hold 4 licenses from high tier financial regulators.
The Good
The Bad
All assets are CFDs, there is no possibility to buy real stocks or ETFs
Cryptocurrency offering is below most of its competitors (only 5)
While easy to execute a trade, platform is difficult for a novice to navigate
All assets are CFDs, there is no possibility to buy real stocks or ETFs
Cryptocurrency offering is below most of its competitors (only 5)
While easy to execute a trade, platform is difficult for a novice to navigate
City Index provides over 5,000+ different instruments to trade including their spread betting options. If you’re an experienced trader looking for an interesting option when it comes to asset variety, spread betting and all via MetaTrader 4, City Index is definitely a great option to look at for you.