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We can say that the UAE has the best forex company in Dubai, as it is considered today one of the best and most powerful countries in the world that has been able to shift from relying entirely on natural resources, which are represented in oil as a major and important source for the country’s economy, in terms of achieving returns for investment in tourism as well as foreign investments. Where it constituted in the UAE more than what was provided by the oil trade.
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Best forex company in dubai
We can say that the UAE, as a country, is one of the first Arab countries to recognize trading (forex) through the Internet, and it is the best forex company in Dubai, which has prepared a list in which laws are regulated for all companies that worked in this field. Before that, brokers relied on the laws of financial control institutions which she was following.
Therefore, the UAE has become the best forex company in Dubai, with a reputation and popularity in all trading companies for the advantages it provides, especially the advantages of supporting foreign traders with Arab nationalities. trading.
Is currency trading legal or against the law?
In fact, it is difficult to say that currency trading in the UAE is legal, but at the same time, this does not mean that cryptocurrency trading companies in the UAE are prohibited or that they engage in illegal activities.
But what is meant is that the government in the UAE so far does not officially recognize these (encrypted) currencies and does not set up an organizational structure for them to govern and regulate the trading process, and this did not affect the rate of demand for digital cryptocurrencies, which are ranked among the financial tools and are the most popular among traders in the UAE .
Best forex broker in Dubai licensed for trading
Reliable trading platforms in the UAE always seek to obtain licenses from the UAE to regulate the work of the capital markets, as the UAE provides them with the necessary legal protection with which they can protect investors and citizens.
This is done through the Central Bank of the UAE or the Capital Market Regulatory Authority (Forex), so that all investors can trade with the best trading company in the UAE, in addition to the fact that these trading companies are licensed in the UAE and licensed by third parties, as well as trading with the best platforms It is easy, it only requires a mobile phone, and trading is reliable and licensed, as the UAE provides full protection for investors and citizens.
1- Ava Trade Company
Headquartered in Ireland, established in 2006 AD in Dublin, it has provided fixed trading models for securities dealers, and the organization headquarters was in the Bank of Ireland ASIC, FSA, FSCA, FSC, FSRA, IIROC.
The minimum deposit is $100, and one of the positives of dealing with it is that its global regulation is good, as well as the minimum deposit is low, the asset selection is wide and spans across 7 sectors, its educational tools are in-depth.
But it has some downsides which are that its quarterly fee is high for inactivity, its cost is not acceptable for protection, and the leverage is low for individual traders.
2- Exness Company
It has more than 12 years in the field of brokerage, and what distinguishes it is that it has support in multiple languages around the clock, seven days a week, local and international payment options, instant withdrawal transactions, fast and reliable execution, stable prices, Islamic accounts for all, and there are It has multiple regulatory licenses from FSA, FCA, FSCA, CYSEC.
3- Evest Company
It is one of the approved companies for trading in the UAE. Like its predecessors, it is distinguished by the fact that trading in it is available with Islamic accounts, and the minimum deposit amount is 100 dollars.
Are there legal penalties for trading or forex in the UAE?
After we reviewed the legal status of digital currency trading companies in the UAE, it appears to us that the UAE government does not object, but it gives warnings every period, and this means that the law in the UAE does not consider the trading of digital cryptocurrencies as a prohibited financial activity.
Also, the law does not impose any penalties on anyone who practices it, but the UAE always warns citizens repeatedly not to fall victim to fraudulent companies in the field of trading.
Although the warnings that the government puts in place for trading companies for digital cryptocurrency (forex) are in order, avoiding these risks has several ways, the most important of which is that we are keen to deal with licensed brokers from reliable and globally recognized regulators, as well as we can benefit from From a list of trading companies that we know are licensed and recommended.
Specifications of the best forex company in Dubai for trading
Most Emirati and Arab traders in general tend to trade currencies through international financial intermediaries. These companies do not necessarily have to be subject to local regulatory authorities, nor do they even work with specific laws and regulations set by the state regulating financial transactions within the financial markets.
Accordingly, when we want to differentiate between all the companies dealing in paper currencies in the UAE, or in other words, the companies that actually operate in the UAE, we must make sure that these companies are safe and reliable.
The only way to do that is to get acquainted with the licenses that the company has obtained and their issuers, and you can easily identify them by visiting the Arab Investors Union website.
Is there a minimum amount for trading in the UAE?
In fact, there was a minimum, but it was canceled on Wednesday, 1-9-2021 AD, and this was done within the framework of the initiative that he launched to enhance participation for individual investors, and this was done when the Abu Dhabi Financial Transactions Market began canceling the minimum fees in trading currencies in all securities in The previous day (Tuesday), when Abu Dhabi devalued its currencies by 50%, falling to 0.025%, which was previously 0.05%, which is the third decline in three years.
Can I buy digital currencies in the UAE?
The answer is yes we can, and this is done by opening an investment portfolio account that is compatible with a reliable and licensed cryptocurrency exchange that allows all UAE residents and all residents to open cryptocurrency wallets easily, but we must be careful when we choose a cryptocurrency exchange that we are chosen for licensed trading companies and exchanges Locally in the UAE or in other countries of the group of countries that are trusted in their licenses in the world of companies and platforms for trading digital currencies.