Best DFSA Regulated Forex Brokers 2020 | FxScouts

By Jeffrey Cammack

Updated: April 28, 2020

While there is no single Middle Eastern regulatory agency, there are respected organisations in individual countries. The best-known regulator in the Middle East is the Dubai Financial Services Authority (DFSA).

While traders residing in Dubai are required to use DFSA regulated brokers, residents of other Middle East nations don't have a restriction on using foreign regulated Forex brokers. These are the best Forex brokers that Sharia-compliant accounts have strong international regulation and client support in Arabic.

FxPro - Best DFSA Regulated Forex Broker
HYCM - Most Trusted Broker
Axitrader - Best Overall Broker
Amana Capital - Best Trading Conditions

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Broker

FxPro - Best DFSA Regulated Forex Broker

REGULATED BY

FCA

CySEC

FSCA

DFSA

SCB

Trading Desk Type

Market Maker NDD

Trading Conditions

Visit Broker Read Review

77% of retail investor accounts lose money when trading CFDs with this provider

Visit Broker Read Review

77% of retail investor accounts lose money when trading CFDs with this provider

Minimum Deposit

GBP 100

Customer Support

Website Language: English
Support Language: English

Trading Platforms

cTrader
FxProEdge
MT4
MT5

One of the most respected Forex brokers in the industry, well regulated by the FCA and CySEC, and with over 870,000 client accounts in 173 countries. FxPro is a powerhouse in the industry and very well respected among traditional brokers.

With MT4, MT5, cTrader and a browser-based platform, a reasonable 100 USD opening deposit and outstanding customer service, FxPro also offers competitive spreads - often as low as 0.6 pips - to match profitability with security.

Pros

Well regulated
Great platform choice
Tight spreads

Cons

Limited education

Account	Spread From	Commission	Execution	Min. Deposit
FxPro cTrader	0.45 pips	$4.50	Market	USD 100	Account Details
FxPro MT4	1.2 pips	None	Market	USD 100	Account Details
FxPro MT5	1.52 pips	None	Market	USD 100	Account Details
Islamic	1.2 pips	Variable	Market	USD 100	Account Details

Broker

HYCM - Most Trusted Broker

REGULATED BY

CySEC

FCA

DFSA

Trading Desk Type

Market Maker

Trading Conditions

Visit Broker Read Review

74% of retail investor accounts lose money when trading CFDs with this provider

Visit Broker Read Review

74% of retail investor accounts lose money when trading CFDs with this provider

Minimum Deposit

GBP 100

Customer Support

Website Language: English
Support Language: English

Trading Platforms

MT4

HYCM's parent company has been involved in asset trading for over 40 years and its various subsidiaries are regulated by the FCA, CySEC and the DFIC. Primarily a market-maker broker, HYCM still offers attractive trading conditions, and has a market-execution account for those who prefer commission over wider spreads. Support for both MT4 and MT5 is offered alongside a comprehensive market education suite that will be beneficial for all traders.

HYCM offers its clients an opportunity to trade on more than 300 financial instruments including a number of currency pairs, commodities, stocks and cryptocurrencies.

Pros

Well regulated
Wide range of assets
Good range of accounts
Fast and free withdrawals

Cons

Limited currency pairs

Account	Spread From	Commission	Execution	Min. Deposit
Classic	1.2 pips	None	Instant	USD 100	Account Details
Fixed	1.8 pips	None	Instant	USD 100	Account Details
Islamic Fixed	1.8 pips	None	Instant	USD 100	Account Details
Raw	0.2 pips	$4.00	Instant	USD 200	Account Details

Broker

Axitrader - Best Overall Broker
REGULATED BY
FCA
ASIC
DFSA
Trading Desk Type
ECN/DMA
Trading Conditions

Visit Broker Read Review
67.7% of retail investor accounts lose money when trading CFDs with this provider
Visit Broker Read Review
67.7% of retail investor accounts lose money when trading CFDs with this provider
Minimum Deposit
GBP 5
Customer Support
- Website Language: English
- Support Language: English
Trading Platforms
- MT4
- MT5
AxiTrader is an ASIC and FCA regulated ECN broker for serious traders. While the trading platform choice is limited to MT4, Axitrader has received industry recognition for their setup including Best MT4 Broker 2018 (Compare Forex Brokers Australia) and Best MT4 Provider 2018 (UK Forex Awards).
Both accounts at AxiTrader require no minimum deposit, though a minimum of 200 USD is recommended. Spreads are tight, commission on the Pro Account is competitive, and educational and analytical support is good for beginners.
Pros
Low minimum deposit
Wide range of assets
Well regulated
Tight spreads
Cons
Poor customer service
Limited demo account
Account Spread From Commission Execution Min. Deposit
MT4 Pro Account 0.1 pips $7 Market USD 5 Account Details
MT4 Standard Account 1.0 pips None Market USD 5 Account Details
Broker

Amana Capital - Best Trading Conditions
REGULATED BY
CySEC
FCA
DFSA
Trading Desk Type
Market Maker
Trading Conditions

Visit Broker Read Review
N/A
Visit Broker Read Review
N/A
Minimum Deposit
GBP 200
Customer Support
- Website Language: English
- Support Language: English
Trading Platforms
- MT4
- MT5
Amana Capital is a very well-regulated broker with a strong focus on new traders; beginners will find a helpful and well-structured education section and relatively tight spreads on its cheapest account - though trading conditions do improve substantially on the more expensive accounts.
We also like that both MT4 and MT5 are supported and that traders have free access to both AutoChartist and Trade Captain - two excellent third-party analysis applications.
Pros
Well regulated
Tight spreads
Great customer support
Cons
High minimum deposit
Limited education
Account Spread From Commission Execution Min. Deposit
Classic 1.4 pips None Market USD 50 Account Details

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Our business model never influences our opinion of any partner, and the partner selection and review processes are separate. The compensation we receive from partners may affect how our lists are arranged, but the reviews are genuine, and the data is accurate. Our opinion can not be bought, and we always put our readers and their financial livelihoods first.

Dubai & The DFSA

The principal goal of the DFSA is only to regulate businesses enough to prevent unnecessary risks. In a letter dated July 24 2017, the CEO of the DFSA, Ian Johnston, issued new rules for OTC Derivate brokers accepting retail clients following an increase in the numbers of the cross-border companies targeting the region.

These new rules mandated margin requirements dependent on the leverage used, outlawed using credit cards for making deposits (debit cards are still allowed), and requiring that all educational and marketing material is clear, fair, and not misleading.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.