Best CFD Brokers & CFD Trading Platforms Dubai/UAE

Disclaimer: General information only. All kinds of investment (particularly trading CFDs, commodities, and FX) involve significant risk, including the possibility of losing more than the amount invested, as well as market volatility and liquidity hazards. Past performance does not guarantee future results. Most investors will find such operations unsuitable.

Quick Takeaway:

👉 Avatrade

👉 Etoro

👉 XTB Trading

👉 Forex.com

👉 CMC Markets

👉 Saxo Bank

👉 Pepperstone

👉 IG Trading

Dubai is known as a hub for innovation and finance, is also a prime location for CFD trading. However, with numerous platforms available, choosing the right one can take time and effort. Dubai offers a variety of options, but the best platform will depend on your experience level, investment goals, and preferred asset classes.

We will explore platforms offering a wide range of tradable instruments, advanced features for experienced traders, tight spreads for cost-effective trading, and all while prioritizing secure trading through regulatory oversight.

8 Best CFD Trading Platforms & Brokers in the UAE & Dubai April 2024 (Comparison)

AvaTrade

AvaTrade is an online forex and CFD broker, offering a wide range of instruments for trading including currencies, stocks, indices, commodities, and even cryptocurrencies. They cater to both beginners and experienced traders by providing various account types and educational resources.

AvaTrade serves over 400,000 global clients with a focus on user satisfaction and financial stability. They are committed to regulatory compliance, ensuring a secure trading environment for clients.

AvaTrade potentially offers competitive fees, with some account types featuring spread-based commissions. However, inactivity fees and potential withdrawal charges can add up. AvaTrade also uses spreads to make money on the difference between the buy and sell price.

Therefore, AvaTrade can be a good option for traders looking for a platform with a variety of instruments and low fees. However, it’s important to consider all associated fees, including spreads and inactivity fees, before you invest with AvaTrade

Ava Trade Middle East Ltd is regulated by the Financial Services Regulatory Authority (FRSA) of the Abu Dhabi Global Market (ADGM). This makes them a legitimate forex and CFD broker for Dubai residents.

AvaTrade fees

• Commissions: Generally, no commissions on trades; they profit from the spread. However, some account types may have commissions depending on the instrument

• Spreads: AvaTrade’s bread and butter. Spreads vary by instrument and market conditions; they can be competitive but widen during volatility

• Inactivity Fee: A $50 quarterly fee kicks in after 3 months of inactivity. Can add up for occasional traders

• Other Fees: There may be fees for currency conversion (0.5%) and potential withdrawal fees depending on the withdrawal method

Pros

• Low CFD fees and average forex fees

• Negative balance protection

• Offers popular MetaTrader platform and proprietary platform AvaTradeGO

• Wide array of trading instruments, with over 19,000 traded assets such as stocks, currencies, commodities and indices
  

• Dedicated account manager for deposits over $1000 to help you trading

Cons

• Inactivity fees kick in after 3 months
  

• Some assets are only available for trading through the MetaTrader platform

• No support for the US at this stage

Etoro

eToro is a trustworthy, user-friendly platform for traders looking for a secure, stable, and user-friendly platform with a diverse range of assets and reasonable fees. It accepts both cryptocurrency and regular stocks and is regulated and licenced by the European Securities and Markets Authority (ESMA), CySEC, and the Financial Conduct Authority (FCA). eToro has extensive functionality, including a unique “copy trading” feature that allows users to replicate the trades of other users. It also has social networking capability, allowing users to communicate and learn more. However, eToro has certain disadvantages, such as being complicated and intimidating for novice users, making it difficult to find the correct trader, incurring fees for foreign currency on AED deposits, offering a limited amount of cryptocurrencies, and potentially increased fees however compensates for this with its trusted brand and diverse features.

eToro has a license for the Middle East via the Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority

Pros

• Provides lots of powerful functionality for traders
• Has a unique “copy trading” feature that allows you to copy trades of other users on the platform
• Has social networking functionality built in to enable you to interact with other users and learn more
• Supports copy trading for crypto and stocks
• Very recognized trusted brand globally

Cons

• Can be complicated and overwhelming for new users
• It can be challenging to choose the appropriate trader to copy
• Fees and spreads may be higher than those found on crypto exchanges

XTB MENA

XTB MENA is a forex and CFD broker with a strong reputation, operating for almost 20 years, with operations spanning over 13 countries. They offer a variety of instruments including stocks, commodities, indices, and cryptocurrencies.

One of the key advantages of  the platform is 0% commissions on stocks and ETFs with monthly transactions of up to £85,000 (Pounds). It makes them an attractive option for low-volume stock traders. However, CFDs and high-volume stock trading may incur commissions.

Overall, XTB MENA can be a good choice for traders looking for a platform with a wide range of instruments, potentially low fees, and educational resources. Known for outstanding customer service, XTB ensures clients receive comprehensive support.

1. XTB MENA Limited acquired a license from the DFSA, allowing it to operate in Dubai and the GCC region

2. The license granted to XTB MENA Limited by the DFSA is a category three license, enabling the provision of FX and CFDs products to retail and professional clients

3. XTB MENA Limited commenced its Middle East operations under the Dubai license, extending its services not only in the UAE but also to other regions

4. XTB is a publicly listed company headquartered in Poland with licenses across the globe

XTB Fees

Account opening and maintenance

Free to all active clients, regardless of balance.

Deposits

(Free) Payment providers may impose additional fees for certain deposit methods. XTB does not charge fees
Free

In addition there is no minimum deposit amount

Withdrawals

Withdrawals over 50 USD are free.

Investment Conditions

Commission for trading CFDs

0%

Minimum order

0.01 lot.

Maximum leverage

1:30 Margin Table

Minimum spread

0.00009 Instrument Specifications

Other features

Negative balance protection is available

Segregated funds are available

Investing platform availability

Mobile, Desktop, and Tablet

Pros

• Low trading fees and non-trading fees, including no withdrawal fee and free stock and ETF trading

• Outstanding customer service

• wide variety of forex and CFD offerings

• Trusted multi-asset broker catering to professional traders

• Positive feedback on trading experience, professionalism, and reliability

Cons

• The demo account is accessible for four weeks only.

• The broker prioritizes European clients.

Forex.com

Forex.com, a reputable CFD broker with a strong presence in Dubai, caters to various experience levels. Reviews highlight their competitive pricing, particularly for high-volume traders, with tight spreads starting at 0.0 pips. They offer a wide range of tradable instruments, including over 80 currency pairs for forex trading. However, some reviews mention that stock CFD fees might be higher than some competitors.

Overall, Forex.com is a good option for forex traders, especially those who trade frequently. They might be less ideal for those focused on stock CFDs due to potentially higher fees. However, with 24-hour live support and quality executions, it remains a top choice for traders worldwide

In Dubai, forex trading offers security and regulation under the oversight of the Dubai Financial Services Authority (DFSA). This authority not only grants licenses but also actively monitors market activities, ensuring strict adherence to legal standards.

FOREX.com only charges commissions on our RAW Pricing account, which offers trading with spreads as low as 0.0, with a $7 commission per $100,000 USD exchanged see more on their fees page.

Pros

• Low forex fees

• User-friendly platform

• Good for beginners

• Robust platform for day trading

Cons

• High stock CFD fees

CMC Markets

CMC Markets is a well-established, global provider of online CFD and forex trading, founded in 1989. They are headquartered in London with a presence in Dubai, UAE. CMC Markets is regulated by various authorities around the world, including the Dubai Financial Services Authority (DFSA).

Their user-friendly platform offers a wide range of financial instruments for trading, including forex, shares, indices, and commodities. They are known for competitive spreads and cater to various experience levels, with features that might appeal to both beginners and active traders.

CMC Markets is licensed to operate in Dubai, United Arab Emirates. CMC Markets Middle East Limited is regulated by the Dubai Financial Services Authority (DFSA) since October 28, 2019. This allows them to offer financial services to retail clients in the UAE.

CMC Markets CFD Fees

Type of asset	Amount of instruments	Minimum spreads from the platform	Margins rates
Forex	330+	0.7 points	3.3%
Indices	80+	0.3 points	5%
Cryptocurrencies	21	0.5 points	50%
Commodities	100+	0.3 points	5%
Shares	10,000+	0.10%1	20%
Exchange-traded funds (ETFs)	1,000+	0.10%1	20%
Treasuries	50+	1 point	20%

Source: https://www.cmcmarkets.com/en/cfds

Pros

• Competitive forex fees

• Innovative web and mobile platforms

• Advanced research and educational tools

• It comes with advanced tools and an excellent mobile app

Cons

• Higher CFD fees

• Some users reported a complex account creation process

Saxo Bank

Saxo Bank stands out as a premier CFD trading platform, offering a wide array of financial instruments and global market access. With over 71,000 instruments, including stocks, ETFs, bonds, mutual funds, options, and futures, Saxo Markets provides extensive trading opportunities for investors in Dubai and beyond.

As a fully licensed and regulated Danish bank, Saxo Bank ensures security and reliability for traders, empowering them to invest confidently across various asset classes. The platform’s intuitive interface and expert insights, such as those provided by the SaxoStrats team, assist traders in making informed decisions.

Saxo Bank’s commitment to lowering trade minimums, along with its excellent trading platform layout, further solidifies its position as one of the top choices for CFD trading in Dubai. The platform caters to both novice and experienced traders alike.

Saxo Bank A/S is licensed by the Danish FSA and operates in the UAE under a representative office license issued by the Central bank.

Saxo Bank Fees

• Saxo Bank does not charge for online deposits or withdrawals, but intermediary banks or other institutions may impose charges

• Custody fees typically range from 0.06% to 0.12% for stocks, ETFs/ETCs, and bonds, depending on whether the client opts into securities lending

• No inactivity fee

Pros

• Regulated and secure platform

• Wide range of tradable assets

• Advanced trading tools and research

Cons

• May be complex for beginners

• Fees may be higher compared to some other platforms

Pepperstone

Pepperstone is a forex and CFD trading platform whose reputation has been built on providing a wide range of tools and support that enables traders to navigate financial markets with confidence. Pepperstone, in its quest to empower traders, offers access to numerous tradeable markets accompanied by robust research resources as well as connections to different social copy trading platforms. It is important to mention about the fact that Pepperstone’s execution systems are lightning-fast, therefore ensuring quick order placement for its customers.

Although a trusted and feature-laden platform, Pepperstone stands out because of the combination of user-friendly design elements, range of market reach as well as advanced trading technology which appeals to most traders who want an all-inclusive trading experience at once.

Pepperstone Trading License

To operate in the UAE, Pepperstone is regulated by the Dubai Financial Services Authority (DFSA) under license number F004356. This license authorizes Pepperstone to conduct trading activities in Dubai, United Arab Emirates.

Pros

• Competitive FX and CFD fees

• User-friendly platform

• Low FX spreads

• Wide range of tradable instruments

Cons

• Focuses primarily on forex and CFDs

• Limited account protection for non-U.K./E.U. consumers.

IG Trading

IG is regulated by multiple authorities, ensuring the safety of client funds and adherence to industry standards. Traders can access over 16,000 markets, including indices, forex, shares, and commodities, providing ample trading opportunities.

CFD trading allows users to speculate on both rising and falling markets, enabling potential profits in various market conditions. IG offers a well-designed trading platform, accessible via desktop or mobile devices, ensuring ease of use for traders. The platform provides educational resources to assist traders in making informed decisions and enhancing their trading skills.

IG Trading Licensing

The license issued by DFSA permits IG to offer financial services to retail clients in Dubai

Pros

• Extensive product variety

• Deep liquidity

• Established reputation

Cons

• May not be the most competitive in fees

• Higher platform fees for lower-valued portfolios

What features should I look for in a Dubai CFD Platform?

Regulation:

Ensure the platform is regulated by a reputable authority like the DFSA (Dubai Financial Services Authority)

Trading Instruments:

Consider the variety of CFDs offered (forex, stocks, commodities etc)

Trading Platform:

Choose a user-friendly platform (web or app) with the features you need (charting tools, order types)

Risk Management Tools:

Look for features like stop-loss orders and margin requirements to manage risk

Educational Resources:

Platforms with tutorials and market analysis can be helpful for beginners

Curated opinions from Reddit.com

Reddit is home to many passionate traders and advanced users, here are some curated opinions from Reddit users weighing in on the topic:

Depends on the type of trade you perform. If you are familiar with the MetaTrader or CTrader platforms, check out Pepperstone; their commissions are reasonable, and they offer 0 spread on a variety of forex pairings. I would also recommend giving ICMarkets a try. Similar to Pepperstone, although I believe they do not have a local office in Dubai, which is a requirement for you. However, I utilise eToro. I do not utilise any of their gamified tools. They may not have zero spreads, however I discovered that for my trading style, eToro saves me more money than Pepperstone.

(Paraphrased)

 

I’m using Capital.com; the UI needs development, but the fees are straightforward, and they have an API you can use.

(Paraphrased)

 

Consider looking into AVA Trade, Pepperstone, IC Markets, TMGM, Blueberrymarkets, and EightCap.

(Paraphrased)

 

I day trade full-time, primarily in forex, commodities, and indices. So I haven’t used Oanda, but it’s a solid regulated broker with lower leverage. I use offshore brokers for more leverage. If you dislike equities such as IBKR, Sarwa offers its own trading platform that you might look into. However, if you look at the fees closely, IBKR is better. Tradestation is a solid option for integrating IBKR with a clean UI.

(Paraphrased)

 

Simply visit any Emirates NBD Branch with the relevant paperwork. Yes, it is difficult to be honest. Compared to DFM/IBKR/Sarwa/Upstox (India), you can do it with a few mobile/web clicks. Never needed to visit a bank.

(Paraphrased)

 

You can consider checking out the Sarwa trade platform it’s not bad to use (Paraphrased)

Conclusion

Choosing a CFD platform in Dubai depends on your goals. If you’re a new trader, look for an online broker with a user-friendly trading app that offers educational resources and demo accounts to practice with. For experienced traders, consider platforms with advanced charting tools to analyze price movement and develop your own Trading Strategy. Remember, CFDs are leveraged products so utilize risk management tools like stop-loss orders to manage potential losses. Don’t confuse CFD trading with investment strategies; CFDs are for short-term speculation, not long-term investing.

FAQ (Frequently Asked Questions)

Is CFD trading legal in Dubai?

Yes, CFD trading is legal in Dubai. However, it’s essential to note that trading regulations may vary depending on the specific jurisdiction within Dubai. It’s crucial to use regulated and authorized CFD trading platforms to ensure compliance with local laws and regulations.

What are the advantages of using a CFD trading platform in Dubai?

Using a CFD trading platform in Dubai offers several advantages, including access to a wide range of financial instruments such as stocks, commodities, indices, and currencies. Additionally, CFD trading allows traders to profit from both rising and falling markets, offers leverage to amplify potential returns, and provides flexibility with trading strategies.

Is CFD Trading different from Investing?

Yes, CFD trading is for short-term speculation on price movements. You don’t own the underlying asset, unlike traditional investing. CFDs involve leverage, which can magnify both profits and losses.

How do I develop a Trading Strategy for CFDs?

Many platforms offer educational resources on technical analysis using charts and indicators. Consider factors like market trends, news events, and risk tolerance when forming your strategy. Remember, successful trading requires practice and discipline.

Can I use a Mobile App for CFD Trading in Dubai?

Yes, many CFD brokers offer mobile trading apps for convenient trading on the go. These apps typically offer core functionalities like order placement, price monitoring, and account management.

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