If you want to trade Forex in the United Arab Emirates, you should know the legality of it. Obviously, with your investment at risk, the last thing you want is difficulty with law enforcement. Fortunately for you, done the research, and determined that it is completely legal for you to trade Forex in the UAE.
Forex trading in the UAE is regulated by the Dubai Financial Services Authority, or DFSA. This regulator defines its role as the following:
"The DFSA’s regulatory mandate includes asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange, and an international commodities derivatives exchange."1
The Dubai International Financial Centre (DIFC) is a major finacial hub for the region.2 Many Dubai financial companies have licences there. It heps the DFSA with administration of the rules.
There is no mention of 'Forex' on either the DFSA or DIFC websites. This means that there are no specific laws we know of that are related to it. The UAE is a major trading centre, and it is unlikely that there are any major rules against trading Forex there.
Now that you have more knowledge about trading in the UAE, it's time for you to choose a Forex company to make an investment with. We have created a list of the best brokers in UAE. Take a look there, and let us know if you have any questions or concerns.
Sources:
1. About Us | DFSA
2. DIFC official website
Last updated: 03/02/2019 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
