Forex Trading Broker
Please note that it is important to do one's own due diligence before committing to forex or day trading with forex or stocks.
Currency trading broker decisions should not be made without a thorough investigation. We have provided a broker forex list for you to consider as you make your decisions.
Leading Forex Brokers for the Middle East
Who are considered the best forex brokers around the globe including the Middle East? The following list of forex brokerage firms should be helpful for people with different knowledge levels (beginners, advanced), trading strategies (day trading, scalping, short selling) and nationality (EU, USA, UAE)
IC Markets - Top Choice For Day Traders and Scalpers
IC Markets offer the lowest fees in the industry, clocking in at 0,0 pips and $3,50 fixed commission per lot. They additionally offer traders up to 500:1 leverage and the availability to trade forex in micro lots. On top of this, all traders have access to a free Equinix NY4 VPS Server which reduces latency and guarantees order execution speeds of under 40 ms.
Saxo Bank - Top Choice For Professional and High-Volume Traders
Saxo Bank is by far the leading forex broker for professional and high-volume traders as it allows traders to trade over 200 forex pairs with up to 500:1 leverage. Spreads start at 0,7 pips (EUR/USD) and are further reduced when trading volume increases. If you’re a professional trader looking to trade forex in large volumes and at competitive fees, Saxo Bank is a top choice.
Forex.com - Best MetaTrader Broker for US Citizens
Forex.com is the best MetaTrader broker according to Nerdwallet, and it is not difficult to see why. It is a publicly-traded company on the NASDAQ and is regulated by four tier-one financial regulators. It offers fast trade executions of under 50 ms and is compatible with TradingView, Trading Central, and the full MetaTrader suite. Forex.com also offers STP Pro accounts for institutional traders that want to trade lightning-fast with up to 400:1 leverage.
AvaTrade - Best Forex and CFD Brokers for UAE Residents
According to business24-7, AvaTrade is the top choice for forex and CFD traders in UAE based on their low fixed spreads starting from 0,9 pips (EUR/USD) and 8 different trading platforms. The broker allows trading techniques like shorting, hedging, and scalping, and is fully compatible with both MetaTrader 4 and 5. Apart from that, algorithmic and high-frequency traders are able to use Expert Advisors, trading bot scripts, and other forms of automated trading software.
eToro - Top Choice For Beginners
eToro offers social trading services that allow beginner traders to copy the trades of professional traders automatically with their own accounts. Users can allocate percentages of their capital to top-performing traders and don’t have to trade the markets themselves to enjoy a healthy return on investment. For those that want to take a stab at trading forex themselves, eToro features a beginner-friendly trading platform that almost looks like a computer game.