Thursday, September 13, 2012

Starting Forex Trading in UAE-Forex Brokers Reviews

Here is list of Forex brokers if you are starting forex trading in UAE. You should be careful while choosing broker for online trading as all brokers are not regulated and trust worthy. Below list is my personal evaluation of forex brokers. When ever, you start trading, look for forex broker which is Regulated by any financial authority. For example, HY Markets is regulated by FSA UK.

UAE is becoming financial hub and more Forex brokers are moving here so there are lot of options but my advise is to be careful while dealing with unknown broker. Also you will find here lot of middle brokers so its better to directly trade with main forex broker rather than middle man.

Broker Name
       
Key Points
       
Rating
     
HY Markets Dubai

  • Regulated by DFSA and FSA-UK
  • In Market since 1977
  • Offices in Hong Kong , London , United Arab Emirates
  • Customer support available in English , Arabic , Chinese , Russian
HY Markets rating Dubai

PIP Trade Dubai


  • Regulation: FSA (UK)
  • Headquarters: London, UK
PIP Trade rating Dubai
Etoro Dubai

  • Regulation: FSA (UK)
  • Headquarters: London, UK
ETORO Dubai rating - Dubaiforexbrokers.blogspot.com
Oanda Dubai
  • Regulation: FSA (UK)
  • Headquarters: London, UK
OANDA Dubai rating - Dubaiforexbrokers.blogspot.com
FXCM Dubai


  • Regulation: FSA (UK)
  • Headquarters: London, UK

FXCM Dubai rating - dubaiforexbrokers.blogspot.com
Alpari Dubai - dubaiforexbrokersblogspot.com

  • Regulation: FSA (UK)
  • Headquarters: London, UK
alpari dubai rating


Please note that this is my personal rating for brokers according to my experience.

PipTrade

Perhaps the biggest advantage of PIP trade over other broker companies is that it allows for trading various investment vehicles in a single account. Unlike other brokers, PIP trade offer precious metals, commodities, oil, stocks and indices in addition to currencies. This is an ideal choice for traders who are looking to allocate their assets into different markets. With PIP Trade, you can go long and short on any of the products and you get the security of dealing with a regularized broker.

Alpari

Alpari initially started running in Russia but had then moved to UK. This is one of the most widely used brokers among Forex traders around the world. The dealer itself is well capitalized, therefore giving security to traders in investing their money. Another bonus of trading with Alpari is the ability to trade options.

Etoro

Etoro has been one of the few broker companies that have quickly adapted to the fast changing market circumstances. It has one of the easiest platforms to navigate and also has an interesting blend of social media. With eToro Openbook, traders can see what other traders are doing in real time. This makes it possible for them to find out which strategies work and are worth following.

FXCM

If you are looking for an absolutely credible broker, then FXCM is one of the best choices out there. The very fact that this is not only regulated but listed on the New York Stock Exchange indicates that it is indeed a serious company. With a minimum deposit of $50, you can get up and running in currency trading. The deposit process is also straightforward as you can use credit/debit cards, checks as well as ACH deposit to fund your account.

Oanda

Oanda is another trusted broker having established its credibility over the past years. In addition to the most traded pairs, it also offers exotic pairs and precious metals. Oanda’s website houses some of the best educational materials on Forex trading in general and there are lots of commentaries which can help traders in formulating ideas. There is no minimum deposit and funding your account can be done through bank wire, ACH and check.

Tuesday, August 7, 2012

Forex Industry in the Middle East Continues to Grow


The Forex trading sector in the Gulf Region will carry on in its meteoric rise. It’s expected to grow exponentially, doubling year on year as stated by Iskandar Najjar, CEO of Alpair ME DMCC (Alpari), at a recent Forex conference in Jeddah Saudi Arabia.
Alpari ME DMCC has seen an escalating demand from retail traders across the Middle East. The UAE, KSA and Qatar, most especially have demonstrated eagerness for currency trading opportunities, therefore emulating a larger trend not only in the Gulf region but across the world.
Around the world, the Forex industry has witnessed daily trading volumes shoot up from $3 trillion during 2007 to $5 trillion during 2012.
Among the various capital markets, the spots and futures have seen the best performance with an increase of over 10% over the same time period. Alpari has been one of the top brokers that catered to the trading needs of regional investors from the entire MENA region from their Dubai head office since 2010.
Alpari has recognized trends that show GCC based investors favoring oil trading, precious metals trading and currency trading. Moreover, investors across the GCC have been trading a wide range of commodities and currencies.

UAE to Become a Forex Trading Hub in the GCC Region


The UAE is undoubtedly regarded as a commercial hub in the Gulf Region and not, it also set to emerge as a foreign exchange trading hub in the region, said a senior official of ADS Securities, the Abu Dhabi based Forex and commodities and trading platform.
Claus Nouveau-Nikolajsen, ADS Securities, Head of Sales, GCC & MENA, states: “The UAE has been at the forefront of financial industry development in the GCC and offers the most conducive environment for the growth of the forex marketplace and infrastructure. Trading of both major and emerging market currencies in the UAE is on the rise, and with international trade growing rapidly, the need for currency management will only increase.  The expected upgrade of the UAE to emerging market status by index provider MSCI will have a significant impact on investment flows into the country, which in turn will also boost the country’s forex market.”
He states that as the markets continued to experience record instability, a number of investors had become cautious and stay away from traditional investment instruments like real estate and equities. This has made Forex trading a top choice among investors in GCC. With market volatility going at an all time, exchanging currencies is now seen as perhaps the only investment class that allows opportunities for investors to gain the returns they are aiming for.
 “Since the launch of our platform we have had a rapid rise in the number and range of investors trading forex. In particular, regional traders realise that they can create alpha with a local player offering some of the best prices and spreads in the world without the additional costs associated with overseas firms who only have sales operations based in the Middle East,” he added.
A number of driving elements, including economic uncertainties around the world, have led to the exponential growth of the Forex market which has a $4 trillion trade a day volume – this is three times as much as the rest of the financial markets combined.
Over the past few weeks, several major currency pairs have performed quiet exceptionally well. The most widely traded pair Euro/Dollar pair recently set its record of its highest volatility since the peak of the financial crisis in the late 2008. “Intra-day volatility today has grown to extremely high levels and as global economic worries show no sign of abating, this is expected to continue,” pointed out Nikolajsen.
Currency trading in the GCC region has responded well to global trends. The continuous downfall of the US dollar has caused businesses in the region to pay close and thoughtful attention to their exposure to currency risks. “Over the last few years, the US dollar has been comparatively stable, so there was little need for currencies pegged to the US dollar to manage their treasury positions.  Recent volatility and decline in liquidity across traditional markets have created a real need for sophisticated currency management,” Nikolajsen said.

Tuesday, July 31, 2012

Forex Trading in UAE – A brief look


Forex trading in UAE is evolving day by day. I remember before several years ago when I was searching for a Forex broker. It was indeed a time consuming and daunting task with the very limited choices available. But now, it is interesting to see several brokerage companies from USA, UK and Europe bringing their services into UAE with excellent features. This is not a surprise now as more and more people around the world are becoming aware of the potentials of Forex trading.
Although I am quite aware of the thriving Forex market in UAE, I was focused more on other investment opportunities including real estate, metal trading and precious metals trading. It is interesting to know that trading and investing are quiet active in UAE, basing from the community of traders in UAE sharing advices and strategies with one another. Traders in the UAE are quiet competent whatever the condition of the markets.
While doing my study, I was surprised to find out that the real estate market is no longer as lucrative as it used to be. A report reveals that property sales in Dubai have dropped to almost 70% from their peak in mid 2008. The Dubai real estate is currently at its lowest point and it seems that it will take a couple or more years before it recovers continuously.
After doing a lot of research about Forex, I am convinced that Forex trading is a good option for any traders in UAE as an alternative to real estate investing. There are a lot of considerations however that one needs to take before embarking on Forex trading. While this can be lucrative, this can also be very risky. Proper research, risk management and money management are important in this very volatile market.
Currency trading offers far more flexibility than other capital markets, but discipline and patience is the key to long term success. Risk management involves a combination of responsible use of the capital margin and leverage, appropriate contract size, use of stop loss order and a risk/reward ratio. When you make protecting your account balance a priority over making a profit, then you will find your account balance, slowly but steadily increasing in the long term even with several losses. 

ADS Joins hand with Online trading academy - Dubai


ADS Securities (ADSS) today announced a sponsorship agreement with the Online Trading Academy (OTA) Dubai to provide a range of benefits for existing and prospective Forex traders across the region as part of its efforts to raise awareness and educate the region on FX markets and trading. 
The agreement will see ADSS offer OTA Dubai students access to additional information, support and strategy advice as well as special trading rates, when they complete an OTA course. Furthermore, OTA Dubai will be running weekly workshops at ADSS's new, purpose built FX and commodities training centre to provide a free introduction to FX trading for anyone wishing to start their FX investment careers. 
Believed to be the first facility of its type to be opened in Abu Dhabi and based at the same location as ADS Securities International Headquarters, the ADS Securities Banking and Training LLC will be dedicated to providing international standards of trading support to investors across the UAE. It will provide instruction on how to trade a range of currency and commodities based investments. International trading gurus, partner companies and ADSS's own in-house trainers will all provide the information required to trade in global markets.

Standard Chartered Bank launched online Forex service


Standard Chartered Bank has announced the launch of enhanced online foreign exchange services through its secure banking platform Straight2Bank. 
It brings a choice of 130 global currencies to the bank's clients in Bahrain, the UAE, Oman and Qatar.
It is seamlessly accessible to all corporate clients through the platform. This added advantage allows clients to access international trade currencies within Straight2Bank - ultimately making currency payments for Middle East-Asia and intra-Middle East trade relationships faster and executed in a currency of choice.
The product innovation saves clients' unnecessary costs in currency conversions and avoids the inherent risks associated with fluctuating currency rates - a challenge most traders face when dealing with trade partners outside their economies.
Standard Chartered corporate clients can now access instantaneous foreign currency quotations within their secure corporate online banking portal Straight2Bank.
The request for quote feature allows customers to avoid the onerous process of calling for currency quotations from a bank's local treasury desk, to trade in a company's currency of choice.
By selecting their currency and volumes for conversion online, clients receive an almost instantaneous quotation, with the option to accept or decline within minutes.
"This value added service is a demonstration of our commitment to enable the burgeoning trade flow between our clients in Asia, Africa, the Middle East and the rest of the world, supporting our clients in their drive to connect with their trading partners in any part of the world," said Standard Chartered global corporate cash and trade product management head Ashutosh Kumar.
"Our corporate clients in Bahrain, Oman and the Levant as well as a number of other international markets in our footprint, will have immediate access to these product innovations without incurring set-up costs or installation delays through our secure online banking portal," said Bahrain, Oman and the Levant transaction banking head Hussain Shirazie.
"This move comes in line with our continuous efforts to leverage the benefits of electronic enhancements for our clients," he added.

Abu Dhabi Stocks Gain On Europe, Etisalat Bets; Dubai Retreats

Abu Dhabi stocks rose the most in a month on bets the government may permit foreigners to buy shares of Emirates Telecommunications Corp. (ETISALAT) and amid optimism Europe’s policy makers will take steps to ease the debt crisis.

Etisalat, as the phone company is known, advanced the most since June. First Gulf Bank PJSC (FGB), Abu Dhabi’s third-biggest bank, increased 1.3 percent. The ADX General Index gained 0.6 percent, the most since June 21, to 2,485.51 at the close in the emirate. Dubai’s DFM General Index (DFMGI) slipped less than 0.1 percent, while the Bloomberg GCC 200 Index (BGCC200) of stocks in the region gained 0.2 percent. State-controlled Etisalat will “soon” allow foreigners to own its shares, Al Khaleej reported, citing Group Chief Executive Officer Ahmad Abdulkarim Julfar. Etisalat is 60 percent owned by state-controlled Emirates Investment Co., according to data compiled by Bloomberg. European and U.S. equities rallied July 27 on bets the European Central Bank would begin a new round of joint-bond purchases to ease borrowing costs in Spain and Italy, while Germany and France pledged to do everything to protect the euro.

Wednesday, June 13, 2012

UAE Forex Trading - 3 Major mistakes

3 Major Forex Trading Mistakes That Will Wipe Out Your Account - UAE Forex Trading
So often, people talk about the many potentials of Forex trading but very few ever mention the things and choices that people allow to interfere with their trading business. This article will focus on some of the mistakes that traders commit while not realizing that their success will be limited or destroyed overtime and how to successfully do UAE forex trading




Not Using The Stop Loss and Limit Order Feature

The Stop Loss and Limit Orders are helpful tools in helping traders enhance their profitability and minimizing their risks. A limit order allows you to set a predetermined profit of level and get you out of a position once that level is achieved. A stop loss on the other hand works similarly but will get you out of a position once your loss reached a predetermined level. If used the right way, these tools can help avoid or minimize catastrophic losses when trading.

Letting Your Emotions Get in The Way

While all Forex traders have emotions as human being, there is a difference between a successful trader and a novice one when it comes to dealing with emotions when trading. Greed, impatience and fear are the most common emotions that can destruct one’s trading strategy so be careful with that. Controlling your emotions can be done more effectively if you have a sound money management in place...which brings us to the next major mistake:

Not Having a Disciplined Money Management Plan

Any wise trader will follow a disciplined money management plan consistently. While discipline is arguably one of the most overused terms in Forex education, it continues to be the most crucial traits that traders can master. Trading with sufficient capital, risking money that you can afford to lose, knowing when to withdraw and deposit – these are all essential things that you need to consider before you start trading.

Mistakes can be costly and when it comes to Forex trading - just like any other investments – this can never be truer.  By educating yourself and avoiding the mistakes done by numerous traders, Forex trading can not only be profitable but rewarding as well.
Please note that there are lot of Forex brokers in Dubai but you should be careful while choosing best forex broker.

Forex trading UAE - 3 facts you should know

Forex Trading - 3 Facts You Should Know - UAE Forex Trading
There are a lot of hype and myths surrounding Forex trading UAE today. This is not a surprise though. With the vast amount of information in the Internet created by people who are looking to make money from selling Forex trading products and services, it is quiet easy to get deceived. It’s vital to know that Forex trading is not as easy and quick as many people in the Internet would have us believe. And by keeping these things in mind, one should be able make an informed decision whether or not Forex trading is for him. 


Below are some facts that anyone should understand before trading UAE Forex:

Success in Forex Trading Is Not Easy

There are a number of Forex brokers around the Internet that promise too-good-to-be-true results without experience and knowledge in Forex. This however is not the case at all. Otherwise, all people would be doing this to make a living. Fact is, Forex trading involves hard work, patience, and discipline along with the right information in order to succeed. Although you don’t necessarily need to have a college degree to learn the basics, Forex trading is a totally learned skill that takes time.

It Is Fast to Lose Money as Much As It’s Fast to Make Money in Forex

In Forex trading UAE, one of the most improperly used elements is the leverage. Basically, this gives the trader the ability to conduct a large amount of trade for a small capital. Leverage can prove to be beneficial but it can also be your worst enemy if you don’t know how to use it the right way.


Forex Involves Psychology More Than Other Types of Investments

Forex psychology is one of the most pivotal elements in Online trading . These can greatly affect how the trader conducts his trades as a whole. The three most destructive emotions in currency trading are greed, impatience and fear. Whether the market is against or in favor of you, there is an emotion attached to that situation and that dictates how you do your trades. If you always give in to these emotions, you will likely lose everything. If you however learn to control your emotions while trading, you will get a higher chance of getting profits in the long run.

All in all, trading in the Forex market can be quiet profitable. However this will not be the case without properly educating yourself on the ins and outs of Forex trading in UAE. It is best to do your research, get advices from experts and learn as much as you can in trading to increase your chances of success.

Wednesday, May 2, 2012

Is Forex Trading For You? Ask Yourself These 3 Questions

Is Forex Trading For You? Ask Yourself These 3 Questions - UAE Forex Trading
Yesterday, I had talk with one lady who was interesting in Forex trading. She was excited about her friends who was doing Forex investment in Dubai gold trading but probably she is not aware of the risk evolve especially when you are new in UAE forex trading. With the Forex market being the largest financial market in the world having a $4 trillion trade a day volume, more and more people are becoming attracted to its potential as a money-maker.

While it is true that there had been thousands of people who are making off a living wage from Forex trading, this doesn’t mean that Forex trading is for everyone. Just like any other business, you need to devote a considerable amount of time and effort to realize profits from it.

After you have learned about the potential of Forex trading, you may be tempted to jump in the bandwagon, hoping that you’ll get a share from this massive financial market. But hold on! Resist the urge. Ask yourself a few questions first before you decide on undertaking this venture.

Question #1: Do You Have Trading Knowledge and Experience?

It’s no question that the Internet today is full of hypey offers of product and service. Several ads out there are good in making believe that they do not need a considerable amount of trading experience and knowledge to profit from Forex trading. This is not true however. Forex trading involves a lot of thorough analysis and strategies which take days to weeks before a trader can master them.
There are not too many UAE forex training center and i personally believe go for online resources to become good Forex trader.

Question #2: Are You Patient and Disciplined?

Forex trading is a never-ending learning process. It takes incredible patience both in entering and exiting trades. It also takes a lot of patience and discipline to continue trading even after a substantial amount of losses. Even the most experienced traders lose their capital from time. Losing money, even getting your account entirely wiped out is a common scenario in Forex trading especially for beginners. So take note of these before you decide trading with currencies.

Question #3 Are You Able To Beat Your Emotions?

The Psychology of Forex is one of the most important elements in Forex trading. This can certainly affect the way you trade as a whole. And while Forex trading is about speculation, it doesn’t entirely mean that traders should always rely on their instincts when conducting trades.

The two most destructive emotions when it comes to Forex trading are greed and fear. If the market is favorable to you, then you tend to get greedy and when it is going against you, you tend to get fearful. In both cases however, if you yield into these emotions, you will likely lose everything.

Expert traders know how to beat their emotions or at least minimize them when necessary. This is something that can’t be developed overnight but in months to years of trading

Forex trading has indeed a lot of benefits which cannot be obtained from other occupations. You need no special talents or skills to become a successful trader. Anyone who has a considerable amount of discipline, patience, determination and the right information can learn Forex trading in uae. The only thing one needs is a good trading system, a sound money management plan and the eagerness to learn.