So why you should trade with UAE Regulated Forex Broker?
Let us first see how DFSA regulate Forex Brokers in DIFC are operated. Forex Brokers regulated by DFSA under its jurisdiction are bound to oblige to certain parameters which make sure that client is aware of all risks of online trading and FX and spot trading could let them loss their all money. Typically most of DFSA regulated Forex brokers are obliged to meet their clients face to face and getting dully attested letter for risk warning. DFSA also regulate Forex brokers to give initially less leverage to the clients which is sometime client doesn't like to have. IF client persist to have higher leverage, they again need to sign one document regarding risks involved.
DFSA also made it mandatory for Forex brokers to have proper servers in place for call recordings so that they could monitor what client is been told, in case, their is any complaint from the client.
Also there are very strict audits by DFSA time to time to have strict check on Forex brokers in UAE, having offices in DIFC.
Similarly, UAE Central bank regulated Forex brokers are obliged to go through similar process but not as strict as DFSA. Both have quite strict compliance and traders
required to submit proper KYC as per the regulations.
You will find yourself confuse, there are two type of Forex brokers in UAE , regulated by two different authorities at the moment which are DFSA and Central bank of UAE. DFSA regulated brokers, are solely based
within DIFC for their operations and Central bank of UAE Regulated brokers can be any where in UAE. so always make sure you know this difference and also double check
the authority to whom they claim are been regulated.
Having said above, you must understand that lot of traders still not feel comfortable to trade with UAE regulated Forex brokers since trading conditions and atmosphere
is not friendly due to very strict rules for trading. This is up to you, who need to decide whether you want to secure yourself or looking more open room for trading.