Forex trading in Dubai is a popular source of income among a lot of foreign entrepreneurs and investors. Like all industries in the UAE, forex trading in Dubai is also well regulated by the local authorities here.
In fact, the forex industry has adequate support from the government of the UAE.
Thanks to the foresight of the officials in the government Dubai has an enormous forex sector that traders from all around the world can enjoy.
The majority of the population in the UAE consists of ex-pats, which means there are more foreign residents in the country than local residents. These ex-pats have family back in their home country and these family members rely on the ex-pats to send money back home.
As a result, the forex industry in the UAE would be active even without the presence of forex traders in the market. This makes the forex market in the UAE very sustainable and profitable at the same time.
If you have the necessary skill to navigate the forex market in Dubai, then you can potentially make a lot of profit here. There are several free zones all over the UAE that support and cater to the needs of financial companies.
For example, the DIFC (Dubai International Financial Centre) is a popular choice for entrepreneurs who are looking to start a forex trading company in Dubai. Whatever the case, forex trading in Dubai provides a lucrative return on your investment if you have the necessary knowledge.
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Steps to Start a Forex Trading in Dubai, UAE?
To start a forex trading in Dubai, UAE, you need to acquire the forex trading license from the Dubai Financial Service Authority or the relevant free zone authority.
Please keep in mind that trading in the forex market without the forex trading license is illegal in Dubai. It is relatively easy to obtain a forex trading license and setup a forex trading company in Dubai.
However, if you need extra assistance, you can always rely on Company Setup Consultants to obtain it for you. Here are the steps you need to follow in order to obtain the forex trading license in Dubai:
1. Select a Reliable Broker
The first step is to select a reliable broker that has a legal affiliation with a government agency. Take your time to research the broker before opening your account with them. Most brokers provide a demo account where you can trade without investing any real money.
So, use the demo account to check whether the broker meets your needs or not.
2. Obtain a Forex Trading License
After you have selected a reliable broker, you need to obtain the forex trading license from the Dubai Financial Services Authority. The DFSA monitors all the financial trading activities in the country. The DFSC will run a company check to ensure that you are capable enough to run a forex trading company in Dubai.
3. Start Forex Trading in Dubai
After you have obtained the forex trading license from the DFSA, you can start forex trading in Dubai. Remember to devise a strong trading plan and stick to it. The forex market can be cruel to inexperienced and under-educated players.
What are the Benefits of Forex Trading in Dubai?
The forex industry has a few benefits that no other business sector can offer. This is because the forex industry is very unique and big. The forex industry has a daily turnover of approximately 6.6 trillion dollars, making it one of the biggest industries you can do business in.
As we will see, the size of the forex industry gives it some unique benefits that no other industry can replicate.
Here are the benefits of forex trading in Dubai:
1. Stability and Security
First and foremost, due to the size and high liquidity of the forex market, it is one of the most stable sectors in the business world. The market cannot be manipulated even by the big players, unlike the stock market which is easily influenced.
And since the forex industry in Dubai is well regulated by the authorities, it is a very secure business sector. You can easily start a forex trading company and perform your business activities legally in Dubai.
2. Flexibility
The biggest benefit of forex trading in Dubai is that you can do it anytime and from anywhere you want. All you need to trade in the forex market is an electronic device with an internet connection. You can do it from your laptop and even on your phone.
It gives you a lot of freedom so that you can find the perfect balance between your work life and personal life. Unlike the stock market, you can make a profit in the forex market even during bearish or recession periods.
3. Tax Benefits
Even though Dubai recently announced that it will introduce a corporate tax for the first time starting from next year. The company needs to have an income of USD 102,000 to be eligible to pay taxes.
On top of that, the company needs to be situated on the mainland. Companies located in the free zones will not be subjected to this corporate tax.
You can start a forex trading company in Dubai and enjoy the zero tax benefits, which will allow you to significantly boost your profits.
4. Easy to Enter
Last but not least, the forex industry is very easy to get in and out of. Since the industry has a huge number of transactions taking place every day. It is very easy to liquidate or convert your position in the market.
For example, if you plan to enter the real estate industry, you need to look for a property to buy or develop.
In the forex market, countless people are looking to exchange their money every second. As a result, you can enter the market whenever you want.
Similarly, you can exit the market whenever you want. Unlike in the real estate market, where you need to look for a buyer unless you want to sell for cheaper.
How can Company Setup Consultants help you?
If you are looking for professionals to help you start your very own forex trading company in Dubai, then you are in the right place. Company Setup experts have started numerous companies in various industries all over the UAE. Contact us today and hit the ground running.
For further information and assistance on How to Starting a Forex Trading Company in Dubai and the UAE. To Speak with our Experienced Business Consultants for further information and assistance, call us at +971582595164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at info@companysetup.ae.
