Best Gold, Forex, Stock & CFDs Trading Company in UAE | Cent Trading Account | GoDo CM (2024)

FAQs

Which platform is best for forex trading in the UAE? ›

The most popular Forex trading platforms in the UAE are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). In addition, many traders use cTrader and TradingView as well. The MT4 and MT5 are reliable platforms that support algorithmic trading and offer access to the widest range of custom-built algorithms.

Forex Trading in the UAE

The UAE has three regulators: the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) – both of which are categorized as Tier-2 – and the Central Bank of the UAE. Traders in the UAE also have the right to trade with brokers regulated abroad.

Dubai is a desirable destination for starting a Forex trading business because it provides a welcoming business atmosphere, a robust regulatory framework, and a strategic position.

UAE's top trading partners and trade activities

The country's main non-oil trade partners are China, India, KSA, USA, Iraq, Switzerland, Japan, Oman, Turkey and Hong Kong. Gold, aluminum, oils, and cigarettes are among the country's most prominent exports.

Ahmed bin Saeed Al Maktoum - The Visionary Trader

Ahmed bin Saeed Al Maktoum stands as a visionary in the Dubai forex trading landscape. Beyond his role in aviation, Al Maktoum has demonstrated an adept understanding of financial markets, positioning him as one of the wealthiest forex traders in the city.

Saxo Bank is a CFD broker regulated by the Central Bank of the UAE, offering users access to over 9,000 different CFDs across stocks, indices, commodities, forex, and cryptocurrency ETPs. Here is the breakdown of the CFDs offered: Over 7,800 CFDs on single stocks. Over 1,100 CFDs on global ETFs.

Is CFD trading legal in Dubai? Yes, trading CFDs Dubai is legal. The process whereby you can trade contracts for difference is pretty straightforward. The Central Bank of the UAE is the main body that regulates financial markets.

Well, we have the answer for you. If you plan to exchange the currency in India itself before leaving for Dubai, you must know the limit. You can carry up to 1,00,000 UAE Dirham with you to Dubai. However, if you are willing to get the Foreign exchange before going out from India, prefer a reliable source for the same.

Gold can experience more potent and more prolonged trends than forex, so traders who prefer to trend trade might have better trading opportunities. While range trading in gold can be highly profitable, forex is more suited to range trading than gold due to narrowed spreads and more liquidity.

Gold CFDs are also the cheapest way to trade the commodity. AvaTrade offers low, competitive spreads when trading gold, as well as other metals. There are no other hidden fees or commissions, and in some countries where CFD trading is taxed, the cost of gold trading may be tax-deductible.

What is the minimum amount to trade gold in forex? ›

The minimum tick size is 0.01. At Orbex, Gold is priced in two decimals, such as 1200.12 and so on. Each tick or 0.01 is $1 for a standard lot or $0.10 if you are trading the minimum trading size of 0.10 lots. The value of the tick size in gold is perhaps the most important.

While OctaFX operates under the regulatory umbrella of the DFSA in the DIFC, its status outside the DIFC warrants scrutiny. As of the latest information available, OctaFX does not appear on the list of licensed brokers regulated by the SCA.

Under current UAE law, there are no taxes imposed on capital gains or trading profits earned from Forex trading. This means any net profits made from trading currency pairs, cryptocurrencies, CFDs, commodities, stocks, or other financial instruments are completely tax-free for residents of Dubai.

Trade in 3 easy steps

You will first need to Apply for a DFM Investor Number (NIN), you can receive one through our DFM mobile app, or through a DFM licensed brokerage. There are 3 ways you can obtain an NIN: Select and appoint a licensed broker to carry out your buying and selling transactions.

The best time for forex trading in the UAE is the beginning of the London session and then the overlap window with the New York session. This period starts at 11.00 a.m. Dubai time, then the trading volume becomes lower to 1.00 p.m. and renews at 3.00 p.m. Dubai time when the trading session in New York begins.