Forex Trading in the Middle East

Why has Forex Trading in the Middle East Become so Popular?

While predictions have been made that the UAE will emerge as the fastest growing hub for forex trading in the Middle East and greater Gulf region, no body expected to see the vast amount of Muslim investors and traders all throughout the Middle East looking to get in on the action.

Previously ignored due to the stigma of it’s nature, Forex has been dismissed as a gambling venture, forbidden in Islam. This stigma is still some thing that exists, even though many Islamic Institutes, Authorities and scholars have shed light on the question of is forex trading halal, and not actually haram at all.

The vast majority of countries in the Middle East follow a code of Islamic Finance, the UAE and Iran’s Central bank have both successfully made Forex work for them without straying from that code by eliminating interest on long term trades. To encourage this trend, Forex brokers all over the world have followed suit and given the nod to Muslims who wish to trade while observing Sharia by giving them the option to open interest {link your open acc link here}and swap free accounts.

This has revolutionised the Middle Easts’ patterns of investing, as markets experience unprecedented volatility, investors are fast becoming savvy about their position in the markets. Traditional investment options such as equities and Real Estate are a thing of the past, forex is fast become the investment of choice in the Middle East. With high levels of volatility becoming the norm, rather than the exception, Forex is now seen as perhaps the only investment class that presents investors with opportunities to gain better returns.

Economic uncertainty and unprecedented currency fluctuations have led to exponential growth in the global forex market whose turnover is estimated at $5 trillion a day, that is three times as much as the rest of the financial markets combined.

Trading of both major and emerging market currencies in the Middle East is on the rise, and with international trade growing rapidly, the need for currency management will only increase.
Gulf Cooperation Council has responded to global trends and continues to work on financial industry development in the UAE, sighting it as the most conducive environment for the growth of the Forex marketplace and infrastructure.

Trading of both major and emerging market currencies in the UAE and the Middle East is on the rise, and with international trade growing rapidly, the need for currency management will only continues to increase. The expected upgrade of the UAE to emerging market status by index provider MSCI will have a significant impact on investment flows into the country, which in turn will also boost forex trading in the Middle East, allowing it to flourish even more

Make Sure Your Forex Trading is Sharia Compliant

If you’re forex trading in the Middle East, you simply must make sure that your forex broker is Sharia compliant. Make sure you use one of the buttons below to sign up to an account with our award winning, best Islamic forex broker and avoid any problems that you might possibly face with using another forex broker.


Make Sure you Only Trade with the Best Islamic Forex Broker

Islamic forex traders should choose the winner of our best Islamic forex broker award and trade with Orbex.

Orbex – Halal Forex Trading Here

Are you forex trading in the middle east? Trade with Orbex
Open Live Account Now with best Islamic forex broker, Orbex button
Open Demo Account Now with best Islamic forex broker, Orbex button

This post has been written as a guest post by Abu Ahmed, a forex trader and market analyst based out of the UAE.