5 Best United Arab Emirates (UAE) MetaTrader 4 (MT4) Brokers List

By Stefano Treviso, Updated on: Aug 21 2023.

Here’s our selection of the 5 Best United Arab Emirates (UAE) MetaTrader 4 (MT4) brokers for the year 2023:

Broker	Reason
Pepperstone	Best overall choice
AvaTrade	Best for currency options traders
XM	Best for low volume traders
IG	Best in most assets offered
City Index	Best in spread betting

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.

1. Pepperstone - Best overall choice

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74-89% 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
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.

2. AvaTrade - Best for currency options traders

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71% 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
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.

3. XM - Best for low volume traders

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74.89% 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
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.

4. IG - Best in most assets offered

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79% of retail CFD accounts lose money.

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.
Minimum Deposit	From $10 to $450.
Financial Regulators	ASIC, FMA, NFA, ADGM, FINMA, MAS, FFAJ, FSCA, BMA.
MT4	Yes
MT5	No
cTrader	No
TradingView	No
Proprietary Platform	Yes

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.

5. City Index - Best in spread betting

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69% of retail CFD accounts lose money.

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.