Forex Trading in the UAE
Trade more than 50 forex markets, 24 hours a day from Sunday night until Friday night with FXOpen
Begin forex trading in the UAE with FXOpenFXOpen: Expert forex brokers in the UAE
Forex trading – also known as foreign exchange or FX trading – refers to the conversion of one currency into another. It’s one of the most frequently traded instruments in the world, with individuals, companies and banks executing trillions of dollars’ worth of transactions every day. The forex market enables experienced traders to test their skills and their judgement.
Advantages of forex trading in the UAE with FXOpen
One platform with multiple instruments and markets
With us as your forex broker in the UAE, you can use one platform for foreign exchange as well as for indices, commodity CFDs and cryptocurrency CFDs*.
You're trading with a true ECN technology broker
based in the UK and your funds are fully protected up to £85,000 by the FSCS.
Highly customisable
to your individual trading style and strategies, meaning you have total control over your forex trading.
Access to automated trading
You can download and use ready-made scripts and expert advisors or create a custom indicator or script, based on your very own forex trading strategy.
Access anytime, anywhere
via the desktop, web-based or mobile version of the MT4 and MT5 forex trading platforms.
Access to a wide range of analysis
50+ built-in indicators and graphic tools for technical analysis, quotes history centre, strategy tester and news, all designed to help you increase your forex trading knowledge.
Forex
Trade over 50 FX markets, 24 hours a day from Sunday night until Friday night.
As an ECN technology broker we connect with major banks and other liquidity providers to provide
the
best pricing with deep liquidity and spreads from 0.0 pips.
Setting measurable goals in a volatile market
The majority of trades are undertaken by specialists seeking to earn a profit. Price movements can be extremely volatile because of the volume of transactions on a daily basis, which is something to be aware of when forex trading in Dubai and the rest of the UAE.
Whether you’ve been trading for a year or have decades of experience behind you, it’s vital to set quantifiable goals. That could be achieving a 20% annual return on your investment or getting a total of 100 pips a month. Whatever your objective, it should be easily measured.
How does forex trading work?
Forex trading works much the same as any other transaction in that you purchase one asset using
currency. The major difference is that the asset you’re buying is another currency.
The market price indicates to a trader how much of one currency is required to buy another. Each
currency has its own code which makes it identifiable as part of a pair. For example, using a forex
calculator to view the GPB/USD pair would show how many US Dollars it would take to buy one pound.
For example: If you’re buying a currency pair, you’d expect to see the price rise, indicating that the base currency is strengthening relative to the quote currency. If you’re selling a currency pair, you’d expect to see the price fall. This would happen if the base currency has weakened against the quote. For example, you would buy a GBP/AUD currency pair if you think the pound will strengthen against the Australian dollar, or sell if you think the pound will weaken.
The risks and rewards of the forex market
There are risks and rewards when trading forex in the UAE or anywhere else.
Understanding both sides of the equation will increase your chances for success. Forex is the most-traded financial market in the world and with prices that are constantly shifting, there is an abundance of opportunities to trade.
Anyone forex trading in the UAE should also consider that some currency pairs are much more volatile than others. For example, those that include USD are often in high demand, which gives them greater liquidity.
The forex market can be rewarding. However, to achieve the success you may be looking for, you need to have a full understanding of all the risks involved and take steps to mitigate them.
Forex trading in the UAE with FXOpen
FXOpen is your forex broker in the UAE. Trades are matched with the best available price on the
Electronic Communication Network (ECN). With tight variable spreads, low commissions and an NDD model,
we want all our clients to be successful traders so there is no conflict of interest. With UK-based FCA regulation and FSCS protection of
£85,000, FXOpen is the ideal choice for forex trading in the UAE.
FXOpen is proud of its reputation as one of the leading global forex brokers, maintaining a strong
presence as a forex broker in Dubai and Abu Dhabi, with a range of major, minor, and emerging currency
pairs for you to go long or short on. We also offer live forex charts and other useful tools like an economic
calendar. Why not
get in touch with our team or open your account today. We offer you the opportunity to trade in over
50 markets, 24 hours a day from Sunday night until Friday night. Discover for yourself why so many
experts use FXOpen for forex trading in the UAE.
Why do people trade forex?
What is a forex broker?
A forex broker provides a link between the trader and the market, offering quotes via its various liquidity providers, while its trading platform reflects the best possible conditions available to its customers. For this service, a forex broker charges a fee or a commission and its interests align with those of the trader.
Forex brokers can be categorised as either a dealing desk (also known as market makers) or a non-dealing desk. A dealing desk creates a market by mirroring the quotation from the interbank market and deals the prices to its clients. In non-dealing desks, forex brokers route their clients’ orders to the liquidity provider, and the best quote is offered to retail clients from the liquidity pool.
Brokers organised like non-dealing houses often offer ECN or STP (Straight-Through Protocol) execution. However, there are some forex brokers that mix dealing with non-dealing conditions and operate as hybrid entities.
Depending on the type of the brokerage house, different account types exist. ECN accounts and STP accounts are just a couple of examples.
What factors move the forex market?
It’s also important to remember that prices move up and down based on supply and demand, just like any other financial market. As a trader, you’re likely to either put your money into an economy that has strong growth potential or a short market.
How to define success when forex trading in the UAE
These objectives should be easy to measure while it’s recommended to set targets over a longer timeframe – for example annually as opposed to monthly. Once you’ve established these parameters, you’ll be able to put your plan into action.
It’s important to always manage your expectations throughout the forex trading process and control your emotions. To become a successful trader, you must understand the mechanics of the forex market, trust your analysis and stick to your strategy.
*Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients.