We’ve put together this list of what we feel are the best CFD brokers in Dubai for 2024. Each broker has been carefully chosen to offer a range of services and features, designed to help you choose the account that best suits your trading needs.
We will only include reputable companies on the site. Each of the CFD brokers featured here are authorised and regulated by a respected tier one international regulatory body.
Choose from our selection of the best CFD brokers in Dubai
| CFD Brokers | The Armchair Trader says: |
|---|---|
|
|
With a strong focus on the trading experience, industry leading technology, low costs and award-winning client support, we feel that Pepperstone is a good option for the more established high volume day trader.
|
|
|
FP Markets is an established ASIC, CySEC and FSP regulated broker. They offer access to the industry leading MetaTrader platforms. There’s a copy trading service and they provide pricing directly from the market. That means fast execution and transparent pricing. A 24/7 multilingual client support service has won recognition through the highly respected Investment Trends awards.
|
|
|
Capital.com’s easy-to-use platform, first-rate client support, and seamless integration with MT4 and TradingView make it a worthy contender for beginner and experienced CFD traders alike. Capital.com’s awards include ‘Best CFD Provider (2023)’ at the Online Money Awards, with the broker boasting an ‘Excellent’ Trustpilot rating. 84.01% of retail investor accounts lose money. |
|
|
With deeper pockets to invest in their services than most brokers, IG’s platform suite and trading support tend to lead the way. IG is a good all-rounder for novice through to experienced traders and investors.
71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
|
|
Interactive Brokers is one of the world’s leading futures brokers. They offer direct market access to a range of securities. The broker offers excellent platform stability, huge range of markets, and solid customer support. |
Choosing from the best CFD brokers in Dubai
If you are a beginner to trading Contract for Differences (CFDs), feel free to access our comprehensive range of free trading resources to get you started on the right track.
When it comes to selecting the best CFD broker in Dubai, you will need to ask yourself some important questions before you fund your account. While it is important that you select the best broker, it is critical that you choose the best broker for you. Ask yourself the following questions as you look for a CFD broker:
- Will you require educational tools to enhance your learning? If so, would you prefer in-person education or online?
- Can you explore the platform with a demo account before depositing funds?
- How frequently do you plan to trade, and how long do you plan to hold these positions for? What are the associated costs for trading or holding positions overnight?
- Does the broker provide access to all of the markets you plan to trade?
- Do you prefer Direct Market Access (DMA) to trade directly with the market, or are you comfortable trading on pricing provided by the broker?
- Is your broker regulated by a reputable tier one global authority such as FCA, SEC, ASIC, BaFIN, or a similar body?
Keep in mind that CFDs are leveraged products, which means your trades are magnified. This can be beneficial when your trades are working for you, but bear in mind that this may be costly when a trade is going against you. Even if you trade with one of the best CFD brokers in Dubai, inadequate product understanding can lead to significant losses. Make sure you have a solid trading strategy and understand leverage before you begin to trade with real money.
Opening an Islamic account with a CFD broker in Dubai
If you’re a Muslim looking to trade with one of the best CFD brokers in Dubai, many brokers provide an Islamic account that follows Shariah principles. Islamic accounts, also called swap-free accounts, are interest-free and deemed to be halal. These accounts avoid futures and forward contracts, ensuring all transactions, including transaction costs, are conducted appropriately.
We have written a short guide on whether trading is Halal or Haram which will help you to decide if trading is right for you.
Is CFD trading legal in Dubai?
CFD trading is legal in Dubai, Financial services and trading activities are regulated by the Dubai Financial Services Authority (DFSA), which oversees the Dubai International Financial Centre (DIFC). The DIFC is a financial free zone in Dubai where many financial institutions operate. To engage in CFD trading legally in Dubai, firms typically need to adhere to the regulations set forth by the DFSA and comply with any licensing or registration requirements imposed by the authorities.
If you are considering CFD trading in Dubai, it’s advisable to seek advice from a qualified financial advisor or legal expert who is knowledgeable about the specific regulations and requirements applicable to CFD trading within the UAE and the DIFC. Keep in mind that regulatory landscapes can change, and it’s essential to stay informed about any updates or developments in the legal status of CFD trading in Dubai or the wider UAE.
