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HOW TO BUY BITCOIN ONLINE IN DUBAI. Dubai Forex Brokers  September 26, 2017. Share this: Popular Posts. How to Choose a Forex Broker in Dubai? helps you compare and choose your preferred Forex Brokers in Dubai. .We suggest keeping the following checklist in mind when making your decision about the best Forex broker in Dubai: Is the Forex Broker regulated in Dubai? Check, if Forex Broker is regulated by Central bank of UAE, DFSA or FCA UK etc. Account Details: Ideally, your Forex broker should offer either a selection of account types or some element of customizability. Competitive spreads and easy deposits/withdrawals are good indicators too. Trading instruments: The variety of currency pairs on offer, as well as the quantity, should be considered (the more of both, the better). Availability of Customer Service. What Capital Markets, Forex broker in Dubai is offering. Quality of the Trading Platform: look for a platform that is easy to use, straightforward and offers a collection of technical and analytical tools to enhance your trading experience. High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resourct. Retail FX. This exclusive report aims to serve as a manual, answering all of the questions on the Chinese multi-asset trading industry that you were always afraid to ask. 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The regulatory authority for the Dubai International Financial Center is set to allow retail brokers to acquire clients, with a. The Dubai Financial Services Authority (DFSA), the regulatory authority for the Dubai International Financial Center (DIFC) is set to allow retail FX brokers to set up shop in the affluent Emirate, according to a correspondent to senior executive officers seen by Forex Magnates. The regulator currently allows FX brokers to only acquire clients the DFSA deems to be professional investors, requiring that they have over $1 million in liquid assets. In order to take on retail traders the brokers had to get a specific “retail endorsement” from the regulator, but the only firm that actually seems to have received the endorsement is Henyep Investment Bank. The brokers that stand to be most affected initially by this change are SAXO Bank, OANDA and Alpari which already operating in Dubai. This development will also likely bring more firms to the Emirate looking for a base for the rich retail markets in the area. Bryan Stirewalt, the Managing Director of Supervision at the DFSA, writes that recently the DFSA has been receiving increased interest from authorized firms and from applicants to offer FX trading to retail customers in or from the DIFC. “The DFSA is minded to allow this activity, keeping in mind certain legal limitations and systems and controls requirements.” The said legal limitations revolve around United Arab Emirates Federal Law prohibitions on banking activity in the local currency as transactions in UAE Dirhams are strictly prohibited in the center. Other than Anti Money Laundering compliance and the already mentioned retail endorsement the FX brokers also need to have systems and controls such as intra-day and end-of-day counterparty and settlement limits, segregation of functions and other risk measures. The additional controls and measures to be required from retail FX brokers by the DFSA in order to start operations are: 1. A standard risk disclosure statement – The DFSA has developed a standard retail FX disclosure statement. This disclosure must be signed by each retail client prior to commencing any FX activity. 2. Verification of equivalent regulation in the jurisdiction(s) where the FX transactions are. conducted – Firms are required to confirm that the jurisdiction to which the DFSA clients are introduced or referred (and/or where the accounts are maintained) has equivalent or super-equivalent controls. The DFSA will only consider jurisdictions where the DFSA has a Memorandum of Understanding with the primary financial services regulator. Cyprus and the UK are among the approved jurisdictions. 3. A verified track record of the Firm or the group to which the Firm belongs and minimum. relevant experience thresholds on compliance and client facing staff – Firms proposing to offer retail FX products within the Center are required to demonstrate five years of experience in providing services in retail products under the supervision of a financial services regulator. 4. Segregation and monitoring of clients who are initially on-boarded through the DIFC. entity- Any Firm that introduces or refers clients to another jurisdiction must maintain a record of all introduced and referred clients from the DIFC. Further, the file must include all complaints and suspicious transaction reports lodged by each client. 5. Advertising file – Copies of advertising documents used in the UAE should be available on-site in each Firm. 6. Margin Requirements – a. Margin and Maximum Margin Limit (“MML”) requirements on margin deposits will be. applicable to those Firms operating in an agency or principal capacity. A minimum. margin of 2% and 5% (50 to 1 and 20 to 1 leverage) for major and other currency pairs. should apply to all margin deposits. b. Authorized Firms acting in an advisory capacity must adhere to the MML on margin. deposits. The MML requires Firms who engage clients from the DIFC to set a limit on the. maximum amount of margin deposit the clients will post. This will be based on the net. assets of the client at the time of the client on-boarding. This is determined to be 5% of. Related News. Asks Clients to Respond to ESMA Rules Proposals. B2Broker Extends Asian Expansion with Malaysian Office. Alpari Announces Changes to CFD Margin Requirements. Leave a Reply. 10 Comments on "Exclusive: Dubai Financial Services Authority to Allow Retail FX, Forex Magnates Confirms" This is good news for the development of the eastern region in the FX industry, which spans more sustainable market for the emergence of a new broker that enliven the market. Based on your article it would seem that at least one broker was able to get the retail endorsement in the past. Why weren’t others able to get it before? The rules to get a dfsa license are a bit odd, 5 years experience? Nonetheless this should create a new benchmark for the region. The HNW threshold is $500k not 1MM. @MC I totally agree, with your points and also DFSA keeps changing it rules every 3 months to acquire category 4 license to operate as FX broker in Dubai is 250,000$ but they want to have 1 M$ in liquid asset and more time consuming. Also the DFSA insists that for the on-boarding process firms meet all prospective clients face to face (i.e not over the phone or via email). margin of 2% and 5% (50 to 1 and 20 to 1 leverage) for major and other currency pairs should apply to all margin deposits….” Is that typed correctly So does this mean that client must be given a MINIMUM of 1:50 leverage? If so, that’s new. Usually regulators set maximum leverages.