Analysis, education and company news from our Dubai desk — practical reading for anyone trading Forex, indices and commodities.
A forex account application can remain under review even after you upload your documents. The review time and required checks depend on the account provider, your application and the documents submitted. A pending status does not, by itself, explain what is delaying the review.
A pip is a standard unit used to measure how far a currency pair’s exchange rate has moved. For most pairs, one pip is 0.0001; for pairs quoted against the Japanese yen, it is usually 0.01. The number of pips shows the size of a price movement, while the monetary value of those pips depends on the currency pair, trade size and account currency.
Starting forex trading in the UAE involves more than opening an account and placing an order. First, understand whether you are trading currency or a leveraged forex/CFD product. Then verify the provider’s legal entity and permissions, review its costs and account terms, practice on a demo account, and decide in advance how much you can afford to risk. Forex and CFDs can lead to substantial losses, especially when leverage is used.
Global markets ended Friday, 9 October, on a mixed but generally firmer note. US shares rose, the US dollar recorded a fourth consecutive weekly gain, and gold futures rebounded after recent losses.
The company name shown on a website or trading platform may differ from the legal entity responsible for your account. Before opening a forex or CFD account, check your client agreement for the provider’s full legal name, regulator, permitted activities, and responsibility for handling orders and funds. A Dubai address or familiar brand name alone does not confirm who provides the service.
Trading gold through an online account commonly involves a contract linked to the gold price rather than ownership of physical bullion. Before placing an XAUUSD trade, confirm the product, ounces represented by each lot, minimum volume, margin and trading costs.
Choosing a forex broker in Dubai starts with identifying the legal entity that will provide your account and verifying its permission for the relevant activity. Then compare the complete trading costs, contract specifications, execution arrangements and withdrawal terms.
Oil advances on supply concerns as investors await further insight into the Federal Reserve’s policy outlook.
Forex trading can generate gains or losses, but it does not provide a dependable path to financial growth. A financial plan also considers savings, debt, liquidity, investment goals and the ability to absorb losses.
Please read these documents carefully before opening an account or trading.