Gulf Brokers DMCC Review 2019 | Is Gulf Brokers DMCC a Scam or Legit Forex Broker?
Rating breakdown
Gulf Brokers DMCC Overview
Gulf Brokers is a financial investment firm that offers futures and derivatives for trading over the internet. The broker is located in Dubai, UAE and has been in operation since 2007.
| # | Broker's Features | GULF BROKERS DMCC Availability |
|---|---|---|
| # | Commissions | ✔ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ❌ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ❌ |
| # | Swaps | ❌ |
| # | Demo account | ❌ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ✔ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Gulf Brokers DMCC.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Gulf Brokers DMCC offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Stocks, Futures, Options.
Tradable Products: Gulf Brokers offers 14 currencies pairs, 6 Hydrocarbons, 7 Metals, 18 stocks and 1 option. The number of assets offered by Gulf Brokers is quite low when compared to other regulated entities.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Gulf Brokers DMCC is Dealing Desk, DMA.
Features: The only trading feature of note is the market news, which is provided to traders on the Gulf Brokers’ website.
As a market maker, Gulf Brokers DMCC may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Gulf Brokers DMCC recommended minimum capital is $500.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Gulf Brokers DMCC is regulated by ESCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: Investor protection on Gulf Brokers is via regulation with ESCA in the UAE, segregation of funds in top rated banks and via strict compliance with KYC procedures. The broker uses modern security technologies to protect investors.
Languages Available: Next lets have a look at each broker's different Language options. Gulf Brokers DMCC offers Arabic, English.
Payment methods: Next lets have a look at each broker's payment options. Gulf Brokers DMCC offers Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: Gulf offers debit/credit cards and wire transfers as the payment systems used for funding trading accounts. The two methods can also be used for withdrawals.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Gulf Brokers DMCC makes MT5 available to clients.
Web & Desktop Trading Platforms: The only trading platform offered by Gulf Brokers is the MT5. The platform is available as WebTrader, windows desktop application and as mobile apps.
Mobile Trading Platforms: The MT5 mobile apps are available for download on the Android and iOS stores. The app can be used to manage orders, trader accounts and perform technical analysis.
Trader Education
No trader education is provided.
Promotions
There are no bonuses or promotions on the Gulf Brokers platform.
Support
The customer support team works on a 24/5 time schedule. The support team can be reached via phone and email. Support is offered in English and Arabic.
Recup
Gulf Brokers began operations since 2007 in the UAE. The broker promises clients’ fund security, speedy trade executions and excellent customer service. It is regulated by the ESCA which monitors all its operations ensuring conformity to standards. The MT5 platform provided is modern, versatile and very flexible.
Final Thoughts
Unfortunately we can not credit Gulf Brokers for their Seychelles license, because it does little to guarantee the safety of their clients' funds and as we already noted, it can not be compared with a license issued by well respected financial watchdogs like FCA in the UK, CySEC in Cyprus or ASIC in Australia. On top of that starting spreads as high as 3 pips are far form attractive.
Trading Experience
Gulf Brokers’ services are best for intermediate traders. It does not favour beginner traders neither will it satisfy expert traders.