Discover the best regulated brokers in KSA, UAE and Other Gulf Countries!
We provide a comprehensive guide for you to select the best regulated brokers confidently
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How we rate FOREX brokers ?
The Regulation and the Safety
The regulation is the most significant selection criteria as it determines the legitimacy of the broker and the level of government monitoring of the brokers’ operations.
Among the most reputable regulations are:
- The American The National Futures Association (NFA) and The Commodity Futures Trading Commission (CFTC).
- The Financial Conduct Authority (FCA) in the UK,
- The Australian Securities and Investments Commission (ASIC) in Australia,
- The Swiss Financial Market Supervisory Authority (FINMA) in Switzerland.
- The Central Bank of UAE.
The Spreads and Commissions
The spreads are the second most important feature to consider when selecting a FOREX broker. The spreads determine the difference between the actual price and sale price، which is offered by the broker.
Generally speaking, higher spreads are higher profits for the broker and more losses for you. Thus, it is also beneficial for the traders to select the broker with the lowest spreads. However, you have to be mindful that some brokers have very low spreads but they charge commissions.
The available trading instruments
The available trading instruments is a significant factor when considering the next trade as it will widen and diversify your investment opportunities.
What we look at in terms of the trading instruments is basically the diversity. Good brokers will offer the following instruments:
- Forex Pairs (Major and minor)
- Commodities trading such as Gold, Silver, Platinum, Palladium, oil and gas.
- Indices and Shares trading such as trading US shares and the global markets indices.
- Cryptocurrencies such as Bitcoin and Ethereum.
- Binary options (Not available everywhere).
If you have all the above options, you have a great variety of investment opportunities that will foster your chances of landing on a profitable investment.
The Trading Platforms
The trading platforms are vital parts of the trading process, and thus , they should be really good to enrich the trading experience.
What to look at in the trading platforms?
- The easiness of use. Simpler trading platforms such as Meta Trader 4 and 5 are preferable among the traders since they are easy to use and handle. Also, they have huge support in the trading community.
- The consistency with the global markets. Some platforms always have delays when it comes to broadcasting the current prices of the financial instruments. This is acceptable to a particular limit where after that it will degrade the trading experience. Thus, if your trading platform is significantly lagging the current prices, you should consider finding a different one.
- The technical capability of the trading platform which indicates how advanced is the trading platform in terms of the technical indicators and the charting functionalities.
- The ability of the platform to support the automatic trading such as using experts and trading robots to trade on behalf of the user.
The Technical Support
The technical support and the customers’ service are the backbones of any broker, and thus, they should be considerably taken into consideration when a broker is rated.
- Excellent customer service is quick in response and knowledgeable in the brokerage matters.
- Typically, technical support in the trading brokers operates five days weekly and 24 hours daily.
- Further, customer service should be reachable throughout the chat, phone and emails.
- Some FOREX brokers offer call-back service where you only need to fill in your phone and they will call you soon after.
The Deposit and Withdrawal Methods
The deposit methods usually are much more than the withdrawal methods and that is fine. The only concern in this sense is if the broker delays the withdrawals without proper justification.
- Most of the brokers offer withdrawal and deposit using bank transfers and bank cards.
- Other brokers offer Neteller and Skrill for deposits and withdrawals.
- Be mindful of the withdrawal/deposit fees to be reasonable if there is any.
- Brokers with more withdrawal and deposits methods are ranked higher.
The Learning Resources and the Analytics
Most of the top rated FOREX brokers offer the users training materials free of charge. These materials are meant to help the new traders to get into the trading market easily. Also, some brokers offer higher levels of training for more advanced traders to improve their skills and knowledge.
The majority of the trading brokers provide analysis of the trading markets usually on a daily basis while the market is open. These analytics are usually technical in nature and they provide market insights to the traders. Some brokers go further and they provide trading signals in the form of prediction and analysis.
Additional Features
The additional features here are referred to as the extra features that are provided by the brokers, such as the scalping, hedging, bounces, and the robotic trading. These features generally are helpful to the traders to improve their trading experience.
- Scalping, for instance, is helpful for day traders who have limited time to trade throughout the day.
- Hedging is a useful strategy to protect the equity if you opened a position in the wrong direction.
- Algorithmic or robotic trading can be useful sometimes to generate a passive income from trading.
Our Best Rated Forex Brokers in KSA, UAE and the other Gulf Countries.
- Regulated and trusted broker
- Wide range of trading instruments
- Modern trading platforms
- Cooperative technical supports
- Support is slow sometimes
- Regulated and trusted broker
- Range of trading instruments
- Modern trading platform
- Very cooperative technical supports
- Spreads are a little bit high
- Regulated and trusted broker
- Wide range of trading instruments
- Modern trading platforms
- Cooperative technical supports
- Trading commissons
Frequently asked questions
FOREX stands for the trading of foreign currencies using dedicated trading platforms and throughout forex brokers.
Spreads are the differences between the selling and buying (Ask and Bid) prices offered by the broker.
Hedging in terms of FOREX/CFD trading means opening two opposite trades (short and long) at the same time and with the same value.
Scalping in terms of online trading is a process of trading multiple short term trades repeatedly and making small profits from each one.
Automatic/algorithmic/expert advisors (EA) are software that can automate the trading process using particular trading algorithm or rules. It might take some indicators, such as Moving Average (MA), as inputs and then produce a trading order.
