Compare Brokers
Vs.
By Stefano Treviso , Updated on: Dec 30 2022.
Here’s our selection of the 5 Best United Arab Emirates MetaTrader 5 (MT5) brokers for the year 2023:
| Broker | Reason |
|---|---|
| Pepperstone | Best in lowest commissions |
| IC Markets | Best in most competitive commissions |
| XM | Best for low volume traders |
| Swissquote | Best in most trusted regulatory framework |
| AvaTrade | Best for currency options traders |
The majority of the above brokers are required to possess a financial license from ADGM (Abu Dhabi Global Market) or DFSA (Dubai Financial Services Authority). This grants UAE traders a great layer of protection in the event of any dispute as complaints can be dealt with locally.
Each one of these brokers was analysed using our proprietary methodology prior to being ranked using our comparison tool.
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 |
|
| 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 financial licenses from which 4 belong to high value financial regulators (including DFSA). Their biggest selling points are providing an execution speed under 30ms, a multi-platform environment and a great account offering.
| The Good | The Bad |
|---|---|
|
|
Pepperstone offers the option to trade with no commissions and competitive spreads or to trade with low commissions and RAW spreads from 0 pips. The above offering paired with MetaTradr 5 and an execution speed below 30ms, make Pepperstone one of the best choices for intermediate to experienced traders.
IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.
| Key data | |
|---|---|
| EUR/USD Spread | Dynamic - From 0 to 0.6 Pips |
| Commissions | No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn. |
| Minimum Deposit | $200 |
| Financial Regulators | ASIC, CySec, FSA. |
| MT4 | Yes |
| MT5 | Yes |
| cTrader | Yes |
| TradingView | No |
| Proprietary Platform | No |
IC Markets holds 3 financial licenses from which only 1 belongs to a high value regulator (ASIC). Despite them not being regulated in the United Arab Emirates, they are quite a popular choice in the country due to their competitive spreads and account types.
| The Good | The Bad |
|---|---|
|
|
IC Markets offer is quite similar to Pepperstone’s. The main difference is that IC Markets counts on less financial licenses and they provide more stocks and no ETFs whereas Pepperstone provides a smaller number of stocks accompanied by ETFs and has a stronger regulatory framework. The choice ultimately boils down to each trader’s preferences.
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 financial licenses from which 2 belong to high value regulators (including ADGM). Their specialty is providing a low-cost entry option for currency traders looking for a MetaTrader option.
| The Good | The Bad |
|---|---|
|
|
XM has an account called “Micro account” which has a lot size of $1,000 and a minimum deposit of $5. This option can be extremely attractive for new traders getting started on MetaTrader 5 while on a budget.
Swissquote is a global broker and investment bank headquartered in Switzerland that offers traditional securities and CFD trading along with advanced research tools.
| Key data | |
|---|---|
| EUR/USD Spread | Dynamic - From 0 to 1.3 Pips |
| Commissions | For CFDs there are no commissions as the spreads are the cost. For other assets from $9 up to $210 based on transaction volume and depending on the exchange. |
| Minimum Deposit | 0 |
| Financial Regulators | FCA, ADGM, FINMA, MFSA, HKMA. |
| MT4 | Yes |
| MT5 | Yes |
| cTrader | No |
| TradingView | Yes |
| Proprietary Platform | Yes |
Swissquote holds 5 financial licenses from which 4 belong to high value regulators (including ADGM). They have been around since 1996 and are one of the most powerful brands in the trading arena.
| The Good | The Bad |
|---|---|
|
|
Swissquote offers more than 30,000+ tradable assets and from all United Arab Emirates brokers, they have one of the strongest regulatory frameworks. On the other hand, their commission structure is quite costly and if you’re not a high net worth trader, you may find them quite expensive.
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 8 financial licenses from which 6 belong to high value regulators (including ADGM). Their specialty is definitely currencies trading via their proprietary platforms and via MetaTrader 4 & 5.
| The Good | The Bad |
|---|---|
|
|
If you’re an experienced trader and you’re looking to access a wide variety of currencies and options on currencies via MetaTrader 5, AvaTrade's offer may be a great fit for you.
Apr 19 2022
Our ranking of the 5 best United Arab Emirates (UAE) MetaTrader 4 (MT4) brokers after carefully evaluating their trustworthiness, capabilities, fees and more using our proprietary methodology.
Apr 16 2022
Our ranking of the 5 best United Arab Emirates (UAE) Stock brokers after carefully evaluating their trustworthiness, capabilities, fees and more using our proprietary methodology.
Apr 16 2022
Our ranking of the 5 best United Arab Emirates Forex brokers after carefully evaluating their trustworthiness, capabilities, fees and more using our proprietary methodology.
