Prop firm trading in UAE

[Thomas67]

Hi, is a license of a specific type needed to do prop firm trading (FTMO, etc..., i.e. virtual funds) in UAE, or is it allowed for natural persons?

 

[aniglo22]

No its not needed as long you are using demo accs only . If you need help with your prop firm you can dm me

 

[Thomas67]

aniglo22 said:
No its not needed as long you are using demo accs only . If you need help with your prop firm you can dm me
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Thank you for your view. Would you by any chance have a source about it, as a service is still provided

 

[aniglo22]

Thomas67 said:
Thank you for your view. Would you by any chance have a source about it, as a service is still provided
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Just look at the footer at every prop firm , no one uses real accounts. In every footer the page states that you are trading "simulated accounts". Most use eightcap or thinkmarkets(Proprietary trading | ThinkMarkets) .You can use one of these "ready-made" solution or just ask an broker of your choice for docs and let a dev implement it himself. If you need a dev with experience with prop firms or have other questions you can contact me . Examples :

Thomas67 said:
Thank you for your view. Would you by any chance have a source about it, as a service is still provided
Click to expand...

But watchout there are a lot of prop trading solutions providers that are shady .

They all use the metatrader broker api to monitor access & manage evals etc.. But be really cautious which provider you choose or if you want to do it on your own (which I recommend )

Last edited: Jan 25, 2024

 

[Thomas67]

aniglo22 said:
Just look at the footer at every prop firm , no one uses real accounts. In every footer the page states that you are trading "simulated accounts". Most use eightcap or thinkmarkets(Proprietary trading | ThinkMarkets) .You can use one of these "ready-made" solution or just ask an broker of your choice for docs and let a dev implement it himself. If you need a dev with experience with prop firms or have other questions you can contact me . Examples :View attachment 6050View attachment 6051View attachment 6052


But watchout there are a lot of prop trading solutions providers that are shady .

They all use the metatrader broker api to monitor access & manage evals etc.. But be really cautious which provider you choose or if you want to do it on your own (which I recommend )
Click to expand...

Thanks for your view and proposal. Yes I know these prop firms, how they work, and the fact that demo accounts are being used.

This thread is actually more about the regulations present in UAE (e.g. which decree), that could enforce traders to have a license for prop firms trading, given the remuneration they can receive from them; considering this is indeed on a demo account and there is no direct fund management.

 

[aniglo22]

Thomas67 said:
Thanks for your view and proposal. Yes I know these prop firms, how they work, and the fact that demo accounts are being used.

This thread is actually more about the regulations present in UAE (e.g. which decree), that could enforce traders to have a license for prop firms trading, given the remuneration they can receive from them; considering this is indeed on a demo account and there is no direct fund management.
Click to expand...

No they can't force someone to an license as your doing no wealth management .

 

[Thomas67]

aniglo22 said:
No they can't force someone to an license as your doing no wealth management .
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It's not my view, even if it's not wealth management. But the all point of the thread is to know if someone would have a source about it, not an opinion.

 

[01offshore007]

@aniglo22 is it doable to make the prop trading entity, or a contractor to multiple prop trading firms, as a legit UAE business entity ? Sorry for delayed bump, I found this in search, and found you the prop firm guru.

Since @Fred went off,and some tax rules coming in the UAE, I am not sure what are the issues and process in UAE banking setup nowadays. There are some prop firms in UAE itself, so it MIGHT not be a problem, but thats a different entity.


If a UAE expert wants to chime in, theyr'e welcome.