Page Summary
Copy trading is a popular forex trading strategy in UAE, allowing users to copy trades and portfolios of professional traders. It is commonly used by traders and investors lacking the time or expertise to pick their trades. With the growing number of online brokers offering copy trading, finding the best forex broker for their needs can be difficult.
To guide users through the selection process, we have assessed and evaluated the different providers and their services in UAE to create a list of top choices. To satisfy the needs of new traders searching for intuitive copy trading features or investors looking for a wide range of markets, our analysis considers fees, trading platforms, copy trading features, number of forex pairs, deposit and withdrawal method, research & education, and customer support.
This guide rates 35 online brokers available in UAE to help users find the top options for their needs. A list of the best copy trading forex brokers in UAE is shared below to make a choice easier.
Top 4 Copy Trading Forex Brokers in UAE
- eToro – Best Copy Trading Forex Broker for Beginners
- AVAtrade – Top Copy Trading Forex Broker Overall
- Pepperstone – Ideal for CFDs
- IC Markets – Best For Low Spreads
Best Copy Trading Forex Brokers in UAE Reviewed
The 4 highest rated copy trading forex brokers in the UAE are reviewed below including pros, cons, and key features.
1. eToro – Best Copy Trading Forex Broker for Beginners
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro is an international brokerage company, based in Israel. They offer access to a wide range of assets including 49 forex pairs, stocks, commodities, ETFs, indices, and cryptocurrencies.
The eToro trading platform has an intuitive design for beginners. It offers various trading tools including CopyTrader (for social copy trading), simple order types and watchlists.
eToro users have access to a wide variety of trading tools, including watch lists, 13 drawing tools, and 66 technical indicators. eToro features a vast range of educational materials, including the eToro Academy video series, blog posts, tutorial guides, and podcasts.
eToro charges low spreads of 0,9 pips (EUR/USD). The broker charges inactivity, withdrawal, and currency conversion fees.
The minimum deposit required to open a live eToro account is $100. Deposits and withdrawals are available through PayPal, bank wire transfer, and e-wallets (Neteller and Skrill).
eToro’s customer support is available via email, phone, and live chat in English and Arabic.
eToro Key Features for Forex Traders:
- Broad Selection of Tradable Instruments – access to over 3,400 financial instruments, including 49 forex pairs, stocks, ETFs, commodities, indices, and cryptocurrencies.
- Beginner-friendly Trading Interface – eToro’s trading interface is beginner-friendly, intuitively designed, and easy to understand for all sorts of traders.
- Proprietary Copy Trading Features – access to proprietary copy trading features, which include detailed portfolio overviews, trading performance stats, and the ability to earn money when other traders copy them.
- SmartPortfolio Investment Opportunities – pre-made thematic portfolios such as biotech, marijuana, and sustainable energy for long-term investing.
- Vast Library of Educational Material – access to webinars, tutorial videos, and trading guides.
- Wide Variety of Research and Analysis Tools – news and analysis section, eToro Plus, and the eToro Academy. Added to this, users have access to research tools provided by Trading Central.
Pros
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
Cons
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2. AVAtrade – Best Copy Trading Forex Broker Overall
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
AvaTrade is an online brokerage firm with a license from the ADGM. They offer access to 1,200 CFDs, including 55 forex pairs and 44 forex options. Their trading platforms are accessible through web, desktop and mobile apps. The trading interface has a great user experience.
Copy trading platforms available at Avatrade are listed below.
- AvaSocial (proprietary platform) – allows users to see performance of the best traders, including their realized and unrealised profits and losses, amounts of followers, and monthly drawdowns and gains.
- DupliTrade (third party integration)
- ZuluTrade (third party integration)
All platforms support the usage of third party integrations through APIs including Expert Advisors, Robo-Advisors, and other automated trading software.
AvaTrade charges low spreads of 0,9 pips (EUR/USD). The maximum leverage offered by AvaTrade is 400:1. They allow micro-lot trading.
AvaTrade’s customer support is available around the clock in both English and Arabic via email, phone, and live chat.
AvaTrade Key Features for Forex Traders:
- Great Selection of Tradable Assets – access to 55 forex pairs, 44 forex options, and over 1,200 other financial instruments.
- Great Variety of Copy Trading Tools – AVAsocial, DupliTrade and ZuluTrade
- Compatible With Third-Party Integrations – MetaTrader 4, MetaTrader 5, TradingView, DupliTrade, ZuluTrade, and Capitalise.ai
- Accessibility – web version (WebTrader), desktop app (for Mac), and on mobile app (AvaTradeGO).
- Islamic Account Availability – Islamic swap-free account availability for Muslim traders.
- Vast Library of Educational Materials – users have access to tutorial videos, walkthrough guides, and podcasts.
- Market Research and In-depth Analysis Tools – access a wide range of market research and in-depth analysis tools, including technical indicators, extensive daily blog posts, market commentary, and economic calendars.
Pros
- Great Research and Educational tools
- Great Customer support
- Good choice of social trading options
Cons
- Comparing others relatively few trading instruments are offered; offers Forex, CFDs and Binary Options
71% of retail CFD accounts lose money
3. Pepperstone – Best Copy Trading Forex Broker for CFDs
Min Deposit: $0
Fees: 4.9
Assets available: 4.8
Total Fees:
Pepperstone is a global brokerage company, founded in 2010. Its headquarters are in Limassol, Cyprus. They offer access to over 1,200 financial instruments, including 61 forex pairs, stocks, commodities, indices, and cryptocurrencies. The maximum leverage offered by Pepperstone is 500:1.
Copy trading platforms available at Pepperstone are listed below.
- DupliTrade – is a popular trading strategy marketplace. Users with deposits above $5,000 (20k AED) get access to DupliTrade’s portfolio of leading strategy providers.
- MyFxbook – is an automated analytical tool that allows copying trades of other traders.
- MetaTrader Signals – allows users to copy trading operations in real-time.
All platforms allow a variety of third party integrations including: cTrader, MetaTrader 4, and MetaTrader 5 and TradingView.
Pepperstone charges low spreads of 0,12 pips (EUR/USD) and a $3,50 commission.
The minimum deposit required by Pepperstone is $200 (720 AED).
Pepperstone’s customer service is available via email, phone, and live chat in English and Arabic.
Pepperstone Key Features for Forex Traders:
- Broad Selection of Financial Instruments – access to over 1,200 different financial instruments, including 61+ forex pairs, stocks, commodities, indices, and cryptocurrencies.
- Professional Copy Trading Services – Myfxbook, MetaTrader Signals and DupliTrade
- MetaTrader and cTrader Compatibility – Pepperstone is compatible with MetaTrader 4, MetaTrader 5, and cTrader.
- Extensive Selection Of Trading tools – SmartTrader Tools for MetaTrader, which consist of 28 tools, including technical indicators and expert advisors.
- cTrader Automation – allows automated trading robots and custom indicators with the cTrader API.
- Multiple Market Research and Analysis Tools – AutoChartist, TradingCentral, and TradingView.
- Free VPS Hosting – access ultra-low latencies of under 1 millisecond with ForexVPS
Pros
- Great for algorithmic and copy traders
- Multiple platform add-ons
- Competitive fees and commissions
- Advanced social trading features
- Excellent education and research section
- Competitive fee structure for day
Cons
- Lack of video educational resources
- Advanced order types missing
- Customer support not in Arabic
74-89% of retail CFD accounts lose money
4. IC Markets – Lowest Spread Forex Broker
Min Deposit: $200
Fees: 4.7
Assets available: 3.6
Total Fees:
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IC Markets is an Australian brokerage company, founded in 2007. The broker offers access to a vast range of assets including 65 forex pairs. The broker charges low spreads of 0,1 pips (EUR/USD) and a commission of $3,50.. The maximum leverage offered by IC Markets is 500:1
IC Markets has 3 different trading platforms: MetaTrader 4, MetaTrader 5, and cTrader.
The cTrader platform offers copy trading possibilities including mirroring of top-performing trading strategies.
The platforms support multiple forex trading tools such as risk management tools, detailed analytics and insights, and comprehensive strategy profiles of each member. Users are allowed to deploy different forex trading strategies including Expert Advisors, custom technical indicators, and algorithmic trading. They also have access to free research and backtesting tools.
The minimum deposit required by IC Markets is $200 (780 AED). Deposits and withdrawals are available through bank (wire) transfers, debit/credit cards and e-wallets (Paypal, Neteller, Skrill)
IC Markets’s customer support is available via email, live chat, and by phone 24/7.
Key Features for Forex Traders:
- Wide Range of Financial Instruments – access to CFDs on forex, stocks, indices, commodities, and cryptocurrencies.
- Support for Multiple Trading Platforms – MetaTrader 4, MetaTrader 5, and cTrader.
- Access to Forex Copy Trading Platform – through cTrader
- Access to Automated Trading – users can deploy Expert Advisors, Robo-advisors, and custom technical indicators through IC Markets’ APIs.
- Extensive Research Tools – access to exclusive advanced research tools, including an alarm manager, market manager, and correlation trader.
- Free VPS Hosting – All users are provided with a free Equinix NY4 VPS, which greatly reduces latency and optimizes Expert Advisors.
Pros
- Multiple account types and trading platforms
- Trade with up to 1:500 leverage
- Unlimited demo account
- Free access to Equinix NY4 VPS server
Cons
- No educational material
- Only CFD, forex, and crypto trading
- No research and analysis tools
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
How To Select the Ideal Copy Trading Forex Broker in UAE?
The criteria for finding the ideal forex broker for copy trading in UAE are listed below.
- Availability of Forex Currency Pairs – forex pairs, forex CFDs, micro lots
- Trading Fees and Spreads – the cost of trading forex, including spreads, commissions and non-trading fees
- Copy Trading Platforms and Features – availability of trading platform and features for copy trading (proprietary or third party integrations)
- Mobile Trading Features – trading platform and general broker features available on mobile devices.
- Quality of Customer Support – available channels, times, and languages spoken, including email, phone, live chat in English and Arabic.
- In-depth Security Research And Education – market research, daily news updates, in-depth security market analysis, and high-quality trading signals must be offered.
- Available Deposit and Withdrawal Methods – the broker has to accept a wide range of payment methods to allow for easy deposits and withdrawals.
- UAE Availability – UAE residents must be able to sign up and open an account.
Top Brokers For Copy-trading Compared
Key features of the highest ranked copy trading forex brokers in UAE are compared in the table below.
| Broker | eToro | AVAtrade | Pepperstone | IC Markets |
| Nr. of Forex Pairs | 49 | 65 | 60+ | 61 |
| Spreads on EUR/USD | 0,9 pips | 0,9 pips | 0,6 pips | 0,6 pips |
| Leverage | 1:400 | 1:400 | 1:400 | 1:400 |
| Trading Platforms | eToro app | MT4, MT5, WebTrader, AvaGo | MT4, MT5, TradingView, cTrader | MT4, MT5, cTrader |
| Copy Trading Tools | CopyTrader | Ava Social, DupliTrade, mql5.com | Mql5.com | IC Social, ZuluTrade, Myfxbook Autotrade, Mql5.com |
| Regulators | ASIC, CySEC, FCA, FSCS | ASIC, FSA, FSCA, CBI, FFAJ, ADGM | FCA, ASIC, CySEC, FSA | ASIC, CySEC |
| Educational Resources | eToro Academy | FAQ Section, Videos, Education blog | Trading Glossary, Videos, Education Blog | Webinars, Videos, Education Blog |
| Customer Support | Email, phone, Live chat | Email, Phone, Live Chat | Email, Phone, Live Chat | Email, Phone, Live Chat |
| Swap Free Account | Yes | Yes | No | Yes |
| ECN Account Commission | – | – | – | $3,00 |
| Scalping | Yes | Yes | Yes | Yes |
| EA Trading | No | Yes | Yes | Yes |
| VPS | No | Yes | No | Yes |
What is Copy Trading?
Copy trading is a trading strategy that uses technology to copy trades of other traders.
Copy trading tools use trading signals from live traders and copy their traders to the respected account.
What Are The Best Trading Platforms in UAE for Forex Copy Trading?
The best trading platforms for forex copy trading in the UAE are listed below.
- cTrader
- DupliTrade
- MetaTrader Signals Market
- MyFxbook
- ZuluTrade
Is Copy Trading Legal in the UAE?
Copy trading in UAE is legal if the broker offering copy trading services is regulated.
When signing up for a live trading account at a regulated broker, users are asked to provide documentation, such as a form of identity and provide Proof of Address, in order to pass the KYC procedure.
Pros and Cons of Copy Trading for Forex Trading
The pros and cons of forex copy trading are listed below.
Pros
- Access to Expert Traders – Copy trading allows beginner traders to copy trades of experienced traders.
- Time-saving – it saves time as copy traders don’t need to scan the markets themselves
- Diversification – Copy trading allows investment portfolio diversification when multiple traders are copied.
- Transparency – Most copy trading platforms are transparent by giving traders access to the performance of the traders to copy
Cons
- Risk – copy traders are still at risk of losing money
- Fees – Copy trading platforms usually charge fees for their services, including management and performance fees, which reduce your overall profit potential.
- Limited Control – copy trading requires to transfer part of their control over their investment
What Are Some Of The Most Common Forex Trading Strategies Used With Copy Trading?
The most commonly used trading strategies in forex copy trading are listed below.
- Trend Following Strategy – traders identify and follow the trend of a specific currency pair. The goal is to enter trades in the direction of the trend.
- Breakout Strategy – involves identifying key support and resistance levels and entering trades when the price breaks through these key areas. The goal is to catch the price movement at the right time and profit from the momentum gained.
- Swing Trading Strategy – entails holding on to positions for multiple days or weeks to capture medium-term price volatility.
- News Trading Strategy – surrounds following economic news releases and publications of economic data that can affect forex currency pairs. Traders can decide to trade ‘’with the news’’ or against it.
Conclusion
The variety of brokers in UAE makes it difficult to research and compare their services to find the perfect match for individual trading goals. To make the optimal choice for their needs, traders need to asses key data and analyze them considering relevant criteria.
This guide does the hassle for you by comparing and evaluating the top choices for different types of traders and trading goals. The results of our review of the best forex brokers in UAE are summed up in the table below.
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
| RANK | BROKER | BUSINESS24-7 SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | eToro | 4,9/5 | Beginners | Official website |
| #2 | AVAtrade | 4,2/5 | Overall | Official website |
| #3 | Pepperstone | 4,1/5 | CFDs | Official website |
| #4 | IC Markets | 4,9/5 | Low spreads | Official website |
FAQ
Is it possible to make profit with forex copy trading in UAE?
Yes, it is possible to generate profit with forex copy trading. It is important to keep in mind that as any other investment strategy, copy trading involves risk of losing money even when copying or mirroring best performing traders.
Is copy trading legal in UAE?
Yes, copy trading is legal in UAE.
What is the difference between copy and social trading?
While copy trading focuses on directly copying trades of other traders, social trading focuses on building a community where traders share their trading ideas, strategies, and performance information without directly copying each others trades.
It is still possible to trade manually when copy trading?
Yes, most copy trading platforms combine and allow traders access to copy trading and manual trading.
Are there any extra costs associated with forex copy trading?
Common costs associated with forex copy trading include performance fees, subscriptions fees, commissions & spreads and other non-trading fees.
What are the most common third-party integrations used for copy trading in UAE?
The most common third-party integration tools for copy trading include Zulutrade, Duplitrade, MetaTrader’s MQL5 Signal Service, Myfxbook’s AutoTrade and Tradeo.
How to select the ideal trader to copy in UAE?
When searching for a trader to copy its trades from the following factors need to be considered: trading style, trading goals, risk tolerance, long-term success rate, and consistency of trading history.
What are major drawbacks of forex copy trading?
The biggest drawbacks of forex copy trading include limited control, potential losses due to the traders performance, and extra fees or commissions for copy trading.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Stefan Grasic is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level.