![]() ![]() ![]() The SCA has put out numerous warnings for investors to avoid dealing with brokers that aren’t licensed in the UAE, and has taken action against regulated brokers in the case of violations. What protection does the SCA provide forex traders?įorex traders in the UAE benefit from a variety of Securities and Commodities Authority (SCA) protections. Unfortunately, the SCA does not provide a list of authorized forex brokers however, residents can contact the SCA directly to verify authorisation. Zoom_in zoom_in zoom_in zoom_in zoom_in zoom_in zoom_inīrowse a gallery of screenshots from Saxo Bank's trading platforms, taken by our research team during our product testing. Here is our list of the best forex brokers in the United Arab Emirates: We then ranked brokers by their Overall ranking. To find the best forex brokers in the United Arab Emirates, we created a list of all brokers that accept residents of the United Arab Emirates as new clients. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Between 74% and 89% of retail investor accounts lose money when trading CFDs. For a historical breakdown, here's a link to the Securities and Commodities Authority webpage on Wikipedia.ĬFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The SCA was established in 2000 and is responsible for supervising and monitoring the markets in the United Arab Emirates. We recommend that United Arab Emirates residents also follow the SCA on Twitter. The Securities and Commodities Authority is the financial regulatory body in the United Arab Emirates. While recommended, forex brokers are not required to become authorised by the Securities and Commodities Authority (SCA) to accept residents of the United Arab Emirates as customers. Forex markets lack instruments that provide regular income, such as regular dividend payments, which might make them attractive to investors not interested in exponential returns.Trading forex (currencies) in the United Arab Emirates is popular among residents.The extent and nature of regulation in forex markets depend on the trading jurisdiction. ![]() The decentralized nature of forex markets means it is less regulated than other financial markets.A currency trader needs to have a big-picture understanding of the economies of the various countries and their interconnectedness to grasp the fundamentals that drive currency values. Trading currencies productively requires an understanding of economic fundamentals and indicators.Nevertheless, leverage must be used cautiously because many inexperienced traders have suffered significant losses using more leverage than was necessary or prudent. Leverage in the range of 50:1 is common in forex, though even greater amounts of leverage are available from certain brokers.Banks, brokers, and dealers in the forex markets allow a high amount of leverage, meaning traders can control large positions with relatively little money. ![]()
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