{"id":896,"date":"2016-11-17T12:27:59","date_gmt":"2016-11-17T12:27:59","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=896"},"modified":"2020-09-23T09:32:23","modified_gmt":"2020-09-23T09:32:23","slug":"cb-uae-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/cb-uae-registered\/","title":{"rendered":"CB of UAE and Forex Brokers"},"content":{"rendered":"

The Central Bank of the United Arab Emirates (CB UAE) is, among other things, in charge of supervising Forex companies and their activities. The Central Bank is also in charge of the monetary policy, banking, and credits with the goal of boosting the national economic growth. One of the Bank\u2019s objectives is to stabilize the national currency Dirham by keeping the exchange rate fixed against the USD and ensure free convertibility of the Dirham into foreign currencies. The UAE Dirham was released in circulation in the 1970s, and it has been under the supervision of the Currency Board until the formation of the UAE Central Bank in 1980. The CB of UAE is authorized to grant licenses to brokerage companies dealing in currencies and commodities or intermediary companies in currency market transactions. <\/p>\n

The CB UAE and Forex Regulations<\/h2>\n

\"CBForex has become widely known even in the Islamic part of the world, assuming a dominant role in the UAE and most specifically in Dubai. Many broker companies from the West rushed to open a regional office in the attractive country to offer their services to the warm-hearted citizens of the UAE. If you are one of the adventurous traders who want to dive into the exotic world of the Middle East, then, there are several factors you should take into consideration. The first would be to find a licensed broker. The UAE market can sometimes seem unregulated, especially if you sign with an unregistered broker. Therefore, a CB or SCA registered broker is a must in the UAE. Those are the brokers with a professional attitude whose goal is to establish a long-term client-base. They offer professional services and walk the extra mile for their clients. The CB of UAE makes sure that registered brokers follow the law and abide by rules and regulations which emphasize costumer protection, healthy competition, fairness and transparency, and professionalism.<\/p>\n

Specific Provisions for UAE Forex Brokers<\/h3>\n

Getting a license from the Central Bank of UAE is no easy task, as there are multiple provisions in place, making sure those brokers who do get licensed offer high-quality services and conduct their business in a fair and transparent manner. The bank works closely with the SCA (Securities and Commodities Authority) to make sure all the prerequisites are fulfilled prior to issuing a license. The most important among these requirements are:<\/p>\n