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The Central Bank of the United Arab Emirates (CBUAE) is the regulatory body of UAE, which promotes financial and monetary stability, efficiency and resilience in the financial system, and the protection of consumers through effective supervision that supports economic growth for the benefit of the UAE and its people.
Forex brokers and other financial companies are required to follow Sharia laws while providing services to its investors. But there are no obvious advantages for traders to choose UAE-specific brokers unless they are looking for Sharia compliant trading accounts.
Requirement on Forex Brokers' Reports：
Audit Reports; Anti-money laundering Reports.
Generally speaking, CBUAE-regulated broker profile will be found at the Licensing page on CBUAE website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as below:
1. Find the name of the forex broker, which you can get from the broker's website;
2. Search the name at the CBUAE Register of Licensing page;
3. You need to check if the broker has been granted license of 'Monetary Intermediary' ; If no, the broker is unauthorized to provide forex trading service.
When you have disputes with a CBUAE-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact CBUAE, which helps to solve the disputes between the forex broker and the investor.
You can submit an online complaint after completing your registration: https://crm.centralbank.ae/en
3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in the United Arab Emirates.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.