Best Islamic Accounts Broker – Exness UAE

Exness UAE is a leading online broker in the United Arab Emirates (UAE). It is a part of the Exness Group, a global financial services provider with offices in more than 10 countries. Exness UAE offers a wide range of services, including Forex trading, CFDs, and commodities trading. Exness UAE is regulated by the UAE Central Bank and is a member of the Dubai Financial Services Authority. The broker provides a secure and reliable trading environment, with competitive spreads and low commissions. It also offers a range of educational resources and customer support to help traders get the most out of their trading experience. Exness offers Islamic trading accounts by default to all their clients from Islamic countries.

In this Exness UAE review, we will take a closer look at the broker’s features, services, and customer support.

READ: Forex Trading in the UAE Review

Financial Assets

Exness UAE is a trading platform that offers a diverse range of assets to cater to the needs of traders. The platform provides access to the global financial markets, allowing traders to invest in Forex, metals, cryptocurrencies, energies, stocks, and indices.

• Forex is the most popular asset traded on Exness UAE, with a variety of currency pairs to choose from. Forex trading involves buying and selling currencies, and traders can profit from the fluctuations in exchange rates.
• Metals like gold and silver are also popular trading assets on Exness UAE. These precious metals are seen as a safe haven during times of economic uncertainty, and traders can invest in them to diversify their portfolio. The platform offers competitive spreads on metal trading, making it an attractive option for investors.
• Cryptocurrencies are another asset that has gained popularity in recent years, and Exness UAE offers trading in major cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The platform provides real-time price updates, allowing traders to take advantage of the volatility in the crypto market.
• Energies like oil and gas are also traded on Exness UAE, with a range of contracts available for traders. The platform offers access to both Brent and WTI crude oil, and traders can take advantage of the price fluctuations in these assets.
• Stocks and indices are other popular assets on Exness UAE, with a range of global stocks and indices available for trading. Traders can invest in popular companies like Apple, Google, and Tesla, as well as trade on indices like the S&P 500 and NASDAQ.

Overall, Exness UAE offers a diverse range of trading assets, making it an attractive option for traders looking to invest in a variety of markets. The platform provides access to a range of tools and resources to help traders make informed decisions, and offers competitive pricing and low spreads.

Fees & Commissions

Exness UAE is a leading online forex trading platform that offers a range of trading instruments to traders worldwide. The platform operates on a commission-free model, which means that traders can enjoy trading without having to pay any additional fees or commissions on their trades. However, there are certain fees and charges that traders need to be aware of when using the Exness UAE platform.

One of the main fees associated with trading on the Exness UAE platform is the spread. This is the difference between the buying and selling price of a currency pair, and it is how the platform earns its revenue. The spread can vary depending on the currency pair being traded and the market conditions at the time of the trade. Exness UAE offers some of the tightest spreads in the industry, which can help traders save money on their trades.

Another fee that traders need to be aware of is the overnight swap fee. This is a fee that is charged for holding a position open overnight, and it can vary depending on the currency pair being traded. The overnight swap fee can be positive or negative, depending on whether the trader is buying or selling the currency pair.

In addition to these fees, traders may also be subject to deposit and withdrawal fees when using the Exness UAE platform. The platform offers a range of payment options, including bank transfers, credit/debit cards, and online payment systems. While some payment methods may be free, others may incur a fee, so it is important for traders to check the fees associated with each payment method before making a deposit or withdrawal.

Overall, Exness UAE offers competitive fees and commissions, making it a popular choice for traders looking for a reliable and cost-effective trading platform. With its user-friendly interface, advanced trading tools, and excellent customer support, Exness UAE is a great option for traders of all levels of experience.

Leverage & Margin Requirements

One of the key features of Exness UAE is its leverage and margin requirements. Leverage is a tool that allows traders to increase their buying power by borrowing funds from the broker. Leverage is expressed as a ratio, such as 1:100, which means that for every $1 invested, the trader can control $100 worth of assets. Exness UAE offers leverage up to 1:500, which is one of the highest in the industry.

The margin requirement is the amount of money that a trader must have in their account to open a position. Exness UAE requires a minimum margin of 0.5%, which is one of the lowest in the industry. This means that traders can open a position with just 0.5% of the total value of the position.

Deposit & Withdrawal Options

Exness has a strong presence in the UAE and offers several deposit and withdrawal options that are convenient, easy to use, and secure.

• Deposit Options – includes bank transfers, credit/debit cards, and e-wallets. Bank transfers are the most common deposit method, and Exness UAE supports local bank transfers as well as international wire transfers. The platform also accepts deposits via Visa, Mastercard, and Maestro debit/credit cards. E-wallets such as Skrill, Neteller, and WebMoney are also available for deposits.
• Withdrawal Options – offers traders a variety of withdrawal options, including bank transfers, e-wallets, and debit/credit cards. Withdrawals are typically processed within 24 hours, and traders can withdraw their funds back to the same method that they used to deposit funds. Bank transfers are the most common withdrawal method, and Exness UAE supports both local and international bank transfers. E-wallets such as Skrill, Neteller, and WebMoney are also available for withdrawals.
• Fees – Exness UAE does not charge any fees for deposits or withdrawals. However, traders may be subjected to fees by their respective banks or payment providers. It is important to note that some withdrawal methods may have a minimum withdrawal amount, and traders should check the platform’s terms and conditions before initiating a withdrawal.

In conclusion, Exness UAE offers a range of deposit and withdrawal options that are convenient, easy to use, and secure. The platform does not charge any fees for deposits or withdrawals, and traders can choose from various payment methods to suit their needs.

Exness Account Types

Standard Accounts

Standard Cent – This account type is designed for beginners. Trade with micro lots to start.

• Minimum Deposit – Depends on payment system
• Spread – from 0.3
• Commission – no commission
• Leverage – 1: Unlimited
• Instrumental – Forex, Metals

Professional Accounts

This account types are recommended for experienced traders. They come with raw spreads or even spread-free. These accounts have execution to suit scalpers, day-traders, and algotraders.

Pro – instant execution account, with zero commission & low spread.

• Minimum deposit – $200
• Spreads – from 0.1
• Commission – no commission
• Leverage – 1: Unlimited
• Assets – forex, metals, cryptocurrencies, energies, stocks, indices

Exness UAE Islamic Account

The Exness UAE Islamic Account is a specialized financial product that is designed to cater to the needs of Muslim traders who wish to engage in online trading activities while adhering to Islamic finance principles. As per the Islamic finance rules, any form of interest or usury is prohibited, which makes traditional trading accounts unsuitable for Muslim traders. Therefore, the Exness UAE Islamic Account is structured in a way that complies with the principles of Shariah law and allows traders to engage in online trading activities without compromising their religious beliefs.

The Exness UAE Islamic Account operates on the basis of a profit and loss sharing (PLS) system, which means that the account holder and the broker share the profits and losses of each trade. Instead of charging interest on trades held overnight, the broker charges a commission fee, which is agreed upon at the time of opening the account. This commission fee is fixed and does not fluctuate based on market conditions, ensuring that traders always know the exact cost of their trades.

To ensure transparency and fairness, the Exness UAE Islamic Account is audited by independent Shariah scholars, who ensure that all trading activities are compliant with Islamic finance principles. Additionally, the account holder is provided with regular reports that detail the profits and losses of their trades, ensuring that they are always aware of the financial performance of their account.

Trading Platforms & Tools

Exness UAE offers a range of trading platforms to suit the needs of different traders. The most popular platform is the MetaTrader 4 (MT4) platform, which is a powerful and user-friendly platform that is suitable for both beginner and experienced traders. The platform offers a range of features, including advanced charting tools, automated trading, and a range of technical indicators.

The platform also offers the MetaTrader 5 (MT5) platform, which is a more advanced version of the MT4 platform. The MT5 platform offers a range of features, including advanced charting tools, automated trading, and a range of technical indicators.

In addition to the MT4 and MT5 platforms, Exness UAE also offers the cTrader platform, which is a web-based platform that is suitable for both beginner and experienced traders. The cTrader platform offers a range of features, including advanced charting tools, automated trading, and a range of technical indicators.

Research & Education

Exness UAE offers a comprehensive suite of educational and research resources to help traders make informed decisions.

Exness UAE provides traders with access to a range of educational materials, including webinars, tutorials, and e-books. These materials are designed to help traders understand the basics of trading, as well as more advanced topics such as risk management and technical analysis. The platform also offers a range of research tools, including market analysis, economic calendars, and news feeds. These tools can help traders stay up to date with the latest market developments and make informed decisions.

Customer Support

Exness UAE offers top-quality customer support services to its clients. Its customer support team is available 24/7 to assist clients with any queries or concerns they may have. Clients can reach the team through various channels, including live chat, email, and phone. The team is well-trained and knowledgeable about the company’s products and services, ensuring that clients receive prompt and accurate assistance. Additionally, Exness UAE has a comprehensive FAQ section on its website, which provides answers to commonly asked questions. Overall, Exness UAE’s customer support services are reliable, efficient, and geared towards providing exceptional customer experience.

Exness UAE Regulation

In the United Arab Emirates, Exness is regulated by the Dubai Financial Services Authority (DFSA). The DFSA is responsible for regulating financial services conducted in and from the Dubai International Financial Centre (DIFC). As a regulated broker, Exness UAE is required to comply with strict regulations and standards set by the DFSA to ensure the protection of its clients’ interests. This includes maintaining proper risk management procedures, providing transparent pricing, and ensuring the security of clients’ funds. With the DFSA regulation, Exness UAE has gained the trust and confidence of traders in the region, making it a top choice for traders looking for a reliable and secure forex broker.

Exness UAE Pros & Cons

Cons

1. Limited Payment Options: only accepts payments via bank transfer and credit/debit cards. This limits the payment options available to traders and may be inconvenient for some.

2. Limited Customer Support: offers customer support via email and telephone. However, the broker does not offer live chat support, which may be inconvenient for some traders.

3. Limited Education Resources: does not offer a wide range of educational resources for its clients. This may be a disadvantage for traders who are new to the markets and are looking for guidance.

Is it Legal to Trade with Exness in UAE?

Yes, Exness is a legal and regulated forex broker in the UAE. The company is authorized and regulated by the Financial Services Authority (FSA) in Seychelles and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. It is also registered with the Financial Conduct Authority (FCA) in the UK.

Exness Review UAE | Conclusion

In conclusion, Exness UAE is a reliable and trustworthy broker that offers a wide range of services and features to its clients. The broker is regulated by the UAE Central Bank and is compliant with all the necessary regulations. The broker also offers competitive spreads, fast execution, and a wide range of trading instruments. The customer service is also excellent and the broker provides a secure and safe trading environment. All in all, Exness UAE is a great choice for traders looking for a reliable and trustworthy broker.