Top CBUAE Regulated Forex Brokers

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If you want to start trading in the United Arab Emirates, you’re probably looking for the best CBUAE regulated brokers. Fortunately, our industry experts are here to help – we’ll give you tips on how to find the best brokers regulated by the CBUAE, as well as a bit more background on what they actually do.

In the United Arab Emirates, brokers are required to obtain a license from the UAE Central Bank, whether they’re a foreign or local company. It is the main regulatory body in the UAE, apart from the Dubai International Financial Center which has its own regulatory body. CBUAE regulated brokers are permitted to market and sell foreign and local shares along with financial instruments for a commission.

Central Bank of UAE logo

This page will give you all the information you need on the best (and worst) CBUAE regulated brokers available today.

Best and most trusted forex brokers in July 2024

Fully automated MT4 trader, limited to 9 currency pairs.
Starting price: $199

5.0

Verified trading by Mislav Nikolic & Chris Svorcik.
Starting price: €199

5.0

FXTM’s Dow Jones news advisor comes with in-built calendar events.
Starting price: $10

5.0

Cryptocurrency Trading
60+ tradable instruments
Min Deposit: $5

4.8

Leverage Up to
1:200
Min Deposit: N/A

4.8

A quick way to find the best CBUAE regulated brokers

A fast, simple way to find out if a broker is regulated by the CBUAE is to take a look at their website. At the bottom of the page they’ll usually have their license details. If there’s nothing there, you can also check the CBUAE’s official website, which should contain a full list of all licensed brokers.

How CBUAE regulated brokers can keep you safe

Choosing a broker in the United Arab Emirates is a very important decision you will have to make before opening an account and making your first trade. And this decision can have a significant impact on your forex trading success. Pick the wrong one and at the very least you’ll experience an unsatisfactory trading environment. But at the very worst, you could end up losing everything.

One way you can protect yourself is to only choose a regulated or licensed broker, preferably regulated by the official body in your own country. A common requirement put in place by regulatory bodies is for client funds to be kept in segregated accounts. This means that, should the firm become bankrupt, your capital is kept separate and won’t be used to repay the firm’s debts.

A brief explanation of the Central Bank’s duties

The main responsibility of the Central Bank of United Arab Emirates is to formulate and implement banking, credit, and monetary policies. Its ultimate aim is the growth of the national economy in a balanced way. The Central Bank also works to maintain a fixed exchange rate for the dirham against the US dollar, and to enable free dirham conversions into other currencies. It is fondly known as the “Bank of Banks”, but it is also the Government’s bank and financial adviser.

What is a CBUAE regulated broker – and who are the best ones?

With regards to brokers in the United Arab Emirates, according to the Central Bank’s Board of Directors Resolution No. 126/5/95, the Central Bank is responsible for regulating any business intermediating in the sale and purchase of domestic and foreign stocks, commodities, bonds, and currencies. And this includes money market transactions.

The Resolution states a financial and monetary intermediary should be a UAE citizen and have a national shareholding of more than 60% of the total paid-up capital, in the case of a company. There is a minimum capital requirement of one, two or three million dirhams, depending on the scope of the intermediary’s activities. The actual license for a CBUAE regulated broker dealing in local, and foreign shares is the remit of the Securities and Commodities Authority of the UAE.

Only use licensed brokers

The Central Bank of the UAE is responsible for granting licenses to brokerage firms dealing in currencies and commodities as well as the intermediaries in currency transactions. The website of the CBUAE has a list of all firms licensed to act as intermediaries in currency and money market transactions. This is a great way to find the best CBUAE regulated brokers, although it may be in need of an update; when we checked, it was dated September 2014.

A brief history of the Central Bank of the United Arab Emirates

The Central Bank began life in 1973, back when it was known as the United Arab Emirates Currency Board. This beginning followed the creation of the UAE as an independent state. As you might expect, the purpose of the Currency Board was to issue the new currency for the independent state to replace those currently in use. The currencies which needed replacing were the Qatari/Dubai riyal and the Bahraini Dinar.

The currency which replaced them was the UAE dirham and it was put into circulation the same day the Board was created. The Currency Board didn’t have full central powers back then, but was left with managing the country’s currency and foreign exchange and gold reserves. It had no regulatory powers and was unable to manage the UAE’s monetary policy.

The new Central Bank was created following the passing of the Union Law No. 10 in 1980, and it replaced the Currency Board. The Central Bank of the UAE was given the following powers:

  • Issuing and managing the currency
  • Ensuring the currency’s stability
  • Managing the UAE’s credit policy
  • Acting as the Government banker
  • Overseeing and developing the UAE banking system
  • Providing financial and monetary support to the Government
  • Acting as the lender of last resort
  • Managing the UAE’s gold and currency reserves
  • Representing the UAE in international institutions such as the IMF, the Arab Monetary Fund, and the World Bank

What is the IMF?

IMF stands for International Monetary Fund and it is an international organization with its headquarters in Washington DC. It was originally formed in 1944 at the Bretton Woods Conference but came into formal existence in 1945. At this time there were 29 member countries and its goal was to reconstruct the international payment system. Today, however, it plays a central role in managing balance of payment difficulties and international financial crises. A quota system is used for a country’s contribution, and countries experiencing balance of payment difficulties are able to borrow from the fund.

Why you should choose a CBUAE regulated broker

Choosing a broker in the United Arab Emirates is a very important decision you will have to make before opening an account and making your first trade. And this decision can have a significant impact on your forex trading success. Pick the wrong one and at the very least you’ll experience an unsatisfactory trading environment. But at the very worst, you could end up losing everything.

One way you can protect yourself is to only choose a regulated or licensed broker, preferably regulated by the official body in your own country. A common requirement put in place by regulatory bodies is for client funds to be kept in segregated accounts. This means that, should the firm become bankrupt, your capital is kept separate and won’t be used to repay the firm’s debts.

What you can do if you have a complaint about a CBUAE regulated broker

Should you find yourself in dispute with a CBUAE forex broker the first step you make should be to try and reach a resolution with the company. If you fail to reach a satisfactory conclusion, it is possible to file a complaint with the Central Bank. Complaints can be made online, by fax, or by visiting one of the Central Bank’s branches. These are in Al Ain, Dubai, Sharjah, Ras Al Khaimah and Fujairah.

When the complaint is received it will be given a unique reference number which must be quoted in all communications. The Central Bank will notify you when a decision has been reached, either by email or SMS.

Other brokers by regulation authority

BDL forex brokersCBK forex brokersBCU forex brokersFSB forex brokers
BFSC forex brokersMFSA forex brokersCNMV forex brokersHCMC forex brokers
FCMC forex brokersCNB forex brokersMTR forex brokersMNB forex brokers

Frequently Asked Questions (FAQs)

What is CBUAE?

CBUAE stands for the Central Bank of United Arab Emirates. It was originally formed in 1973 as the United Arab Emirates Currency Board, before the creation of the UAE as we know it today.

What does CBUAE do?

The Central Bank of United Arab Emirates has a wide range of responsibilities to ensure safe trading in the UAE. This includes creating and distributing licenses, and making sure brokers keep client funds separate to company funds just as all the best brokers do.

Are CBUAE regulated brokers safe?

The CBUAE has developed a trusted reputation since it was created several decades ago. Experts feel comfortable using a broker after they see the CBUAE stamp of approval.

What is the best CBUAE regulated broker?

You can find a list of the best CBUAE regulated brokers on the official CBUAE website. In addition, we can recommend some excellent brokers both from the UAE and around the world. You’ll find some examples on the table at the top of this page.

What is a CBUAE regulated broker?

A CBUAE regulated broker is a company which has been reviewed and approved for business by the Central Bank of United Arab Emirates. If a broker is regulated by the CBUAE, it means you can enjoy a safety net while trading with them, as you know the CBUAE will help you if you’re wronged.

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