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Best Forex Brokers in the UAE

The forex brokers we have reviewed for UAE traders, ranked by score, with the company that would actually hold your account and whether it has a UAE license.

By The Spreadlog Editorial Team. Updated 7 Oct 2026. Ranked by score under our methodology; placement in this list is never sold.

Our ranking

  1. Pepperstone

    Regulated by ASIC, CMA (UAE), DFSA, FCA, SCB Bahamas. Minimum deposit USD 10 (no minimum for bank transfers).

    Pepperstone is one of the few big brokers with real licensing in the UAE, but even there the product issuer for retail clients is its Bahamas entity. Razor account costs are low and there are no inactivity fees. It is on the RBI Alert List in India.

    7.4/10
    Good

  2. Exness

    Regulated by CBCS (Curaçao), FSA Seychelles, FSC Belize, FSC BVI, FSC Mauritius.

    Exness serves Asian and Gulf traders through five offshore entities, all tier 3 in our model. Its automated withdrawals and low costs are real strengths, but it holds no license in any of our five countries and is on the RBI Alert List.

    7.4/10
    Good

  3. AvaTrade

    Regulated by ASIC, FSC BVI, FSCA, FSRA (ADGM).

    AvaTrade holds a tier-2 ADGM license that UAE residents can use, and one of the widest sets of licenses of any broker we cover. Traders elsewhere in our region are typically onboarded by its BVI company. It is on the RBI Alert List.

    6.7/10
    Average

  4. IC Markets

    Regulated by FSA Seychelles.

    Traders in our five countries deal with Raw Trading Ltd in Seychelles, not IC Markets in Australia. Raw pricing and platform choice are excellent, but leverage up to 1:5000, CySEC fines against the group and an FCA warning weigh on trust.

    6.7/10
    Average

  5. XM

    Regulated by FSC Belize.

    Traders in our five countries deal with XM Global Limited in Belize, a tier-3 regulator. Costs look low and the brand is huge, but XM has the longest list of regulator actions in this batch, including a Philippine cease-and-desist order with an asset freeze.

    6.3/10
    Average

  6. Axi

    Regulated by ASIC, DFSA, FCA, FSA St Vincent.

    Axi's international site is run by AxiTrader Limited in St Vincent, an unregulated company, and Axi says negative balance protection doesn't apply there. UAE clients are served by a DFSA-regulated branch instead. Axi is open about all of this, which counts in its favour.

    5.9/10
    Use with caution

  7. HFM

    Regulated by DFSA, FCA, FSA Seychelles, FSA St Vincent.

    HFM markets itself as a regulated broker, but its international site runs through HF Markets (SV) Ltd, a St Vincent company with no forex license. UAE traders get the DFSA-licensed entity instead, which is a real plus. Unlimited leverage and a run of profit-cancellation complaints count against it.

    5.8/10
    Use with caution

Four of the brokers we’ve reviewed hold a UAE license: Pepperstone, HFM and Axi through the DFSA in Dubai, and AvaTrade through the FSRA in Abu Dhabi Global Market. The rest serve UAE traders from offshore companies. The ranking above follows our overall scores; the table below shows what each broker means for a UAE resident specifically.

UAE comparison

Broker Our rating UAE license Company behind the account
Pepperstone 7.4 DFSA (DIFC) and onshore CMA Pepperstone Markets Limited, Bahamas (product issuer on UAE site)
Exness 7.4 None found One of five offshore entities; not stated per country
AvaTrade 6.7 FSRA (ADGM) Ava Trade Middle East Ltd for UAE residents
Axi 5.9 DFSA (DIFC branch) AxiCorp Financial Services, DIFC branch; Axi says client money rules don’t apply to its current business
IC Markets 6.7 None found Raw Trading Ltd, Seychelles
XM 6.3 None shown on xm.com XM Global Limited, Belize
HFM 5.8 DFSA (DIFC) HF Markets (DIFC) Limited for UAE residents

HFM’s overall score is pulled down by its unlicensed St Vincent business elsewhere. For UAE residents dealing with its DFSA company, the position is stronger than the headline number suggests.

How we picked

Every broker here has a full Spreadlog review and accepts UAE residents, based on its own published terms. They’re ordered by our overall score, which no broker can pay to change. Read how we review brokers.

Forex regulation in the UAE

Forex trading is legal in the UAE. Three regulators license brokers: the Capital Market Authority onshore (it replaced the SCA on 1 January 2026), the DFSA in the Dubai International Financial Centre and the FSRA in Abu Dhabi Global Market. A broker with one of these licenses is answerable to a UAE regulator. An offshore broker that simply accepts UAE clients is not. More on the UAE country page.

Common questions

Which forex brokers are regulated in the UAE?

Of the brokers we’ve reviewed, Pepperstone, HFM and Axi hold DFSA licenses, AvaTrade holds an FSRA license in Abu Dhabi Global Market, and Pepperstone also holds an onshore Capital Market Authority license for introduction and consultation.

Is a DFSA license better than an offshore one?

Yes. We rate the DFSA as tier 2, against tier 3 for Seychelles, Belize or The Bahamas, because of stronger capital rules, supervision and a local regulator you can complain to.

Can I trade forex in AED?

Some brokers offer AED accounts. Pepperstone, for example, supports AED for UAE clients and takes deposits through Mashreq Bank.