1. Trading Platforms

The actual trading platform that each broker offers is not usually considered before an investor makes their choice. This can often be a mistake. It’s true that almost all platforms will include similar functions, however the User Interface, along with the look and feel of each platform will be a matter of personal preference.

Certain platforms, such as MT4 and MT5 are designed for more advanced traders. Others however are better suited beginners that are just starting out. It’s not uncommon for traders to make hefty mistakes when trading on a platform that doesn’t suit their taste and experience level. But don’t let this deter you. All of the platforms listed here offer Demo accounts- try them before you trade for real.

2. Assets Available

In the financial markets, your investment opportunities go way beyond the cliques of Bitcoin, Tesla and Apple. Rather, you will find hundreds of assets available to trade across a handful of markets- including Forex, Cryptocurrency, Stocks, Bonds, Commodities, Metals and more.

Before signing up to a broker, you should have at least some idea of which markets (or more specifically- which assets within those markets) you are looking to trade with. This will not only refine your choice when choosing a broker, but it will also form the start of your trading strategy when you’re ready to invest.    

3. Deposits & Withdrawals

Not often a trader’s first thought. But it’s certainly worth checking the methods your potential broker has set up to allow you to move money in and out of your trading account. Most credible brokers will give you the option to deposit and withdraw with your credit/debit card, along or popular eWallets such as Neteller or Skrill. Note that the fee for withdrawals will differ depending on your chosen method.

Another aspect linked to deposits and withdrawals is the minimum amount required to move money in and out of your trading account. Brokers each set their own requirements for their minimum deposit or withdrawal amount.

4. Spread/ Commission

The spread/ commission is one of the ways a broker generates its revenue. It is essentially the cost of placing a trade on the broker’s platform. So for you, as a trader, this is an important factor to consider.

The spread/commission will not only differ between brokers, also between asset. A single broker may set different spread/commission rates for each asset class they offer. For example, it might be cheaper to trade Forex as opposed to Indices with one particular broker, simply because the spread on Forex is lower. You should therefore consider your broker based on the asset class you’re looking to trade the most.

5. Client Support

 In times of trading accidents or technical difficulties, it’s important to feel reassured that your broker has a reliable, dedicated customer service support network to solve your problem. The top brokers will naturally offer a high standard support service, either via telephone call center or a quick-response ticketing/email system.  

6. Educational Resources

Most brokers will offer educational trading content to their clients. This might be in the form of eBooks, webinars, trading blogs or regular market updates. Some brokers might even offer one to one training sessions upon client requests. Once again, this point will be more important to some rather than others. Although, a high quality arsenal of educational content can be the difference between the successful and successful traders.

7. Regulation

Our broker review will speak specifically about which regulator is responsible for each broker. In the UAE, the financial regulatory bodies are the Dubai Financial Services Authority (DFSA) and CBUAE (Central Bank of the United Arab Emirates). 

The DFSA is an independent regulatory body that oversees all the relevant services of financial companies taking place in the region’s free zones. These services include; securities, commodities future trading, Islamic finances, collective investment companies and international commodities derivatives exchange.

Regulation can assure traders about the legitimacy and trustworthiness if a broker. They can provide the latest regulatory news to consumers and help consumers avoid scam companies. 

8. Additional Resources

Some other aspects that can help you to compare between brokers might be in the finer details of the broker. Does the broker have its own mobile application for you to trade away from your desk? As always, trading on the go might be important for some- but others will be not miss the absence of a trading app.

Research and Analysis tools are another important extra that is not often considered. When conducting your trading research and analysis, you want to make sure that the best tools are at your disposal. Amongst brokers, charting standards can differ significantly.

Some brokers will offer excellent charting resources, including a range of technical analysis tools. Other platforms may assume traders have analysed their trades elsewhere, offering more basic graphs analytical tools. If this is an important checkbox for you, then ensure your potential broker satisfies this need.