AED Forex Account

4.2 / 5

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85% of retail CFD accounts lose money

HYCM.com, formerly HY Markets, is an award-winning regulated online broker suitable for day traders as well as long-term investors. It's also an established broker, in business since 1999.

• Likes
• Trade CFDs or invest in over 1,000 "real" stocks.
• Trade on MetaTrader 4 or MetaTrader 5.
• Get free signals from Trading Central.
• Open a trading account in USD, EUR, GBP, CAD and AED.

• Dislikes
• Trading fees on its Fixed and Classic accounts are a little high.
• Monthly inactivity fees apply after 90 days.
• Copy trading isn't possible.

Our take on HYCM

Trade over 300 instruments across a wide range of markets, spanning currencies, cryptocurrencies, stocks, indexes, and commodities. HYCM offers a variety of trading accounts for beginners and more experienced traders, on the MetaTrader 4 and 5 platforms.

Of note, 'buy and hold' investors can now access over 1,000 'real' stocks, and earn dividends on their investments. It is possible to invest from as little as $10 through fractional ownership. This service includes American, Asian, and European stocks.

HYCM is an established broker, in business since 1999. It is also a safe place to trade, being overseen by regulators in the EU, the UK, the UAE, and other regions. HYCM provides a reliable trading environment. However, its trading fees are somewhat higher than the competition, unless you open a Raw account.

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Brokers that accept AED

HYCM

If you live in the UAE, you can open an AED trading account with HYCM.com and fund it in dirham. HYCM accepts a wide range of payment options, including local bank transfers from within the UAE, Visa and Mastercard. Bank transfers can take up to 7 working days to reach your account, but card payments are almost instantaneous. HYCM charges no fees on deposits.

In the UAE, Henyep Capital Markets (DIFC) Limited is authorised and regulated by the Dubai Financial Services Authority with license number 000048. HYCM is headquartered in the City of London and has won over 15 awards including Best Forex Broker Dubai and Best Mobile Trading Platform.

About the Emirati Dirham

The Emirati Dirham, abbreviated as AED, is the official currency of the United Arab Emirates. The Dirham was introduced in 1973⁽²⁾, in replacement of the Bahraini Dinar, the Qatari Riyal and the Dubai Riyal that had been in circulation at the time.

The Central Bank of the UAE intervenes automatically in the foreign exchange market in order to maintain the Dirham's fixed exchange rate against the US Dollar. 1 USD equals 3.6725 AED⁽³⁾.

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About the author

I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.