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).
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 targetting 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.
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.
