Best forex brokers: how to compare before you open an account
Most "best forex broker" lists rank brokers with scores you cannot check. Here are the comparison criteria themselves, then a table of the commissions UAE-licensed brokers publish.
What makes a forex broker good
Safety of your money (a UAE dealing licence or a strong regulator, segregated client money), the cost of each trade (spread plus commission plus swap), and execution quality, especially around news.
Work out the full cost
Commission-free accounts usually have wider spreads; raw-spread accounts charge a fixed commission per lot. Price a round-turn lot on the pair you trade most in each account. The Invvex calculator gives you the pip value.
ECN, raw spread and zero-commission accounts
"ECN" and "raw spread" usually describe accounts where you see spreads close to the interbank market and pay a separate commission per lot. "Zero commission" or "standard" accounts build the broker's charge into a wider spread. A low spread alone is not the full picture: a low-spread account with a commission can cost more or less than a zero-commission account depending on the pair, your trade size and how often you trade. Brokers also use these labels loosely, so read the account's published spread, commission and execution model rather than relying on the name.
Swaps and swap-free accounts
Overnight swaps can exceed the spread if you hold trades for days. Swap-free terms vary: some brokers waive swaps for a set number of days and then charge an admin fee. Read the written terms.
Commission as each broker publishes it for the named account. Add spread and swaps for the full cost.
| Broker | UAE licence | Commission | Account | Source |
|---|---|---|---|---|
| XTB | CMA CP-0001283 (Dealing licence) DFSA F006316 (Dealing licence) | $0 on CFDs | Standard | Source ↗ |
| Capital.com | CMA CP-0000937 (Dealing licence) | None | All accounts | Source ↗ |
| Plus500 | CMA CP-0001317 (Dealing licence) DFSA F005651 (Arranging or promotion only) | None | CFD | Source ↗ |
| Equiti | CMA CP-0000791 (Dealing licence) | $0 (Classic, Standard) · $3.5 per lot per side (Premier) | Classic / Standard / Premier | Source ↗ |
| CFI | CMA CP-0000894 (Dealing licence) | $0 (Zero Commission) · low, volume-based (Dynamic Trader) | Zero Commission / Dynamic Trader | Source ↗ |
| Century Financial | CMA CP-0000038 (Dealing licence) | FX & commodity CFDs: $0.00015 per unit, min $1.50 per side | CFD (schedule of charges) | Source ↗ |
| Daman Markets | CMA CP-0001473 (Dealing licence) | 0% (DM Classic) · from $17 per $1 million traded (DM Pro) | DM Classic / DM Pro | Source ↗ |
| Exness | CMA CP-0001100 (Dealing licence) | $0 (Standard) · up to $3.50 per lot per side (Raw Spread) | Standard / Raw Spread | Source ↗ |
| ADSS | CMA CP-0000786 (Dealing licence) | $0 | Classic | Source ↗ |
| IG | DFSA F001780 (Dealing licence) | None on FX CFDs | CFD | Source ↗ |
| HFM | DFSA F004885 (Dealing licence) | $0 | Premium | Source ↗ |
| Swissquote | DFSA F001438 (Dealing licence) | None on forex | All accounts | Source ↗ |
| eToro | FSRA FSP 220073 (Dealing licence) | None on CFDs | CFD | Source ↗ |
| Pepperstone | CMA CP-0001424 (Arranging or promotion only) DFSA F004356 (Arranging or promotion only) | $0 (Standard) · $3.50 per lot per side (Razor) | Standard / Razor | Source ↗ |
| Interactive Brokers | DFSA F008423 (Arranging or promotion only) | 0.20 bp × trade value, min USD 2 per order (spot FX) | IBKR Pro (spot currencies) | Source ↗ |
Using the table
The table lists UAE-licensed forex brokers with their regulator, licence type and the commission they publish for a named account, with the date we last checked. It is a starting point, not a recommendation.
Frequently asked questions
Which forex broker is best for beginners?
One with a UAE dealing licence, a demo account, a low minimum deposit and an easy platform. Start on demo, then with an amount you can afford to lose.
Is forex trading legal in the UAE?
Yes, through firms licensed by the CMA, the DFSA or the FSRA.
Is an ECN broker better?
Not automatically. An ECN or raw-spread account suits frequent traders who can price spread plus commission; check the broker's licence and published terms first.
Is a commission-free account cheaper?
Not necessarily; the cost is usually in a wider spread. Compare spread plus commission plus swap.
Risk warning: CFDs and leveraged trading are high-risk. This content is educational, not investment advice.