How Binary Options Trading in United Arab Emirates Works
In recent years, many binary options traders are turning their attention to the United Arab Emirates. Although the Dubai market is still relatively new (established in 2000), the market has been providing some lucrative opportunities for traders. There are two financial regions in the UAE (United Arab Emirates). The Dubai International Financial Center is independent from the rest of the UAE. Outside of the DIFC, the UAE is regulated by its own authorities, which include the Ministry of Economy Planning, the Central Bank of the UAE and the Emirates Securities and Commodities Authority (ESCA).
arabic Traders at work.
The Dubai Financial Center
Part of what has made the UAE a topic of interest to traders is the establishment of the Dubai International Financial Center. The center was first launched in 2004 and has since grown to become a global contender in the financial marketplace. The goal of the DIFC is to help expand the development and growth of financial services in the UAE economy.
Members can enjoy the benefits of zero tax, no restrictions of repatriation of capital and complete foreign ownership. The DIFC is under independent jurisdiction under the UAE constitution. It follows primarily English common law rather than UAE civil law. Because of these benefits, many investors are taking a closer look at this new global contender.
Binary Options Trading in UAE
There are quite a few online brokers that offer trading in the Dubai Index as well as the Abu Dhabi Securities Exchange. Contrary to what you may have heard, the Dubai market is actually quite good when it comes to binary options. At the present moment, there are 57 companies listed, with most of them being UAE based. There are also some companies based in the MENA region.
One of the major benefits to trading in the UAE is that you have the opportunity to trade on the weekends. While most markets are open from Monday to Friday, the Dubai and Abu Dhabi Securities Exchange are open from Sunday through Thursday. In addition to being a little more convenient, UAE binary options trading can also prove to be quite profitable, particularly in Dubai. As you know, Dubai's economy is quickly expanding. The city itself is listed among the top tourist destinations in the world. Real estate, business and tourism opportunities are plenty, which is great news for the average binary options trader.
Getting Started
While the UAE market is still considered risky because of its wild fluctuations, it can be quite profitable. This market is really ideal for experienced investors who are willing to take a risk. Because interest in the market continues to grow, opportunities come and go quickly. Experts recommend getting into binary options trading in this unique market as soon as possible and while the conditions are still right. The first step in the process is to find a list of online brokers that offer trading in the UAE or Dubai Index. While trading in these markets is still relatively new, there are quite a few brokers that offer this type of trading.