By: Adma Dababneh
Dubai investors have turned to Forex following the downturn of the real estate market in Dubai and around the world. The number of Dubai forex brokers has increased as more and more investors seek profit-trading currency.
Dubai is a tax-free country; The benefits of trading forex in a tax-free country are amazing.
Many Companies in Dubai offer a trading with their partners in Switzerland or Dubai, they have a choice of either Dubai or Switzerland
The question is which Country to choose Dubai or Switzerland?
Those that prefer to use Dubai as a trading base can benefit from fixed spreads, no matter how volatile the market, as well as Dubai based banking facilities regulated by the Central bank of the UAE to conduct forex brokerage. Since Dubai is a tax free emirate, no tax is paid if staying in Dubai or using a Dubai company
While many new traders look within Dubai for the tax benefits, the benefits they seek are available and much more established in Switzerland. Trading in Switzerland also avoids the red tape required for foreign investors who choose to trade through a Dubai company while still providing the privacy and tax-free benefits. All Forex traders based in Dubai and in Switzerland pay no tax on the profits they make.
Choose between Dubai or Switzerland as your trading base
|Dubai based forex services||Switzerland based forex services|
|Tax free||Tax Free|
|Fixed spreads regardless of market conditions||Spread varies depending on conditions|
|Regulated by Central bank of UAE||Regulated by Swiss Financial Market Supervisor Authority (FINMA)|
|Dubai based offices||Offices in Switzerland and Dubai|
|Arabic speaking advisers available||Arabic speaking advisers available|
|Trade CFDs and other commodities||Swiss Banking services available|
|Choice of MT4 or proprietary trading platform||Choice of MT4 or proprietary trading platform|