Here’s our selection of the 5 Best United Arab Emirates MetaTrader 5 (MT5) brokers for the year 2022:
| Broker |
Reason |
| AvaTrade |
Best for currency options traders |
| Pepperstone |
Best in lowest commissions |
| XM |
Best for low volume traders |
| Swissquote |
Best in most trusted regulatory framework |
| IC Markets |
Best in most competitive commissions |
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 along with the TTBTrust score (our proprietary safety scoring system) prior to being ranked using our comparison tool.
1. AvaTrade - Best for currency options traders
Visit71% of retail CFD accounts lose money.
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 |
| Total Asset Offering | 800 |
| EUR/USD Spread | Dynamic - From 0.9 Pips |
| Commissions | No |
| Minimum Deposit | $, €, £ - 100 |
| Financial Regulators |
- ASIC (Australia)
- FFAJ (Japan)
- CBI (Ireland)
- IIROC (Canada)
- CySec (Cyprus)
- FSCA (South Africa)
- ADGM (United Arab Emirates)
- ISA (Israel)
|
| 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 |
|---|
- 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
|
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.
2. Pepperstone - Best in lowest commissions
Visit74-89% of retail CFD accounts lose money.
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 |
| Total Asset Offering | 1650 |
| 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 (Germany)
- FCA (UK)
- ASIC (Australia)
- DFSA (United Arab Emirates)
- CySec (Cyprus)
- SCB (Bahamas)
- CMA (Kenya)
|
| 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 |
|---|
- 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
|
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.
3. XM - Best for low volume traders
Visit74.07% of retail CFD accounts lose money.
XM is an international broker headquartered in Cyprus which offers MetaTrader 4 & 5 and over 1500 + tradable assets.
| Key data |
| Total Asset Offering | 1500 |
| EUR/USD Spread | Dynamic - From 1.7 Pips |
| Commissions | Yes on Zero accounts ($7 per lot round turn). |
| Minimum Deposit | €, £, $ - 5 |
| Financial Regulators |
- ASIC (Australia)
- CySec (Cyprus)
- ADGM (United Arab Emirates)
|
| 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 |
|---|
- 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 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.
4. Swissquote - Best in most trusted regulatory framework
Visit79% of retail CFD accounts lose money.
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 |
| Total Asset Offering | 100000 |
| EUR/USD Spread | From 0 Pips 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 | Varies per account type and selected trading platform. From $0 up to $5,000. |
| Financial Regulators |
- FCA (UK)
- ADGM (United Arab Emirates)
- FINMA (Switzerland)
- MFSA (Malta)
- HKMA (Hong Kong)
|
| 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 |
|---|
- Outstanding asset offering with more than 60 exchanges across the world
- Amazing research and analysis tools for all trader levels
- Thematic investments with preconfigured product baskets
- Offers banking services along with debit card
|
- Their proprietary platform lacks many features and is not user friendly
- Their commissions are extremely high
- Overall everything feels complicated to use
|
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.
5. IC Markets - Best in most competitive commissions
Visit73.59% of retail CFD accounts lose money.
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 |
| Total Asset Offering | 1800 |
| 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 (Australia)
- CySec (Cyprus)
- FSA (Seychelles)
|
| 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 |
|---|
- Customisable leverage per asset before opening trades
- Interbank rates and low commissions
- Great platform variety
|
- Avaliable assets are limited (Also No ETFs)
- No ability to purchase real stocks or cryptocurrencies, only CFDs
|
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.
