The United Arab Emirates (UAE) has emerged as a hub for regulated cryptocurrency trading, licensing 13 crypto exchanges and brokers by early 2024. This growth reflects the maturation of Dubai’s and Abu Dhabi’s virtual asset regulatory frameworks, alongside rising interest in digital assets. This guide compares licensed platforms to help traders identify the best fit for their needs.
Key Licensed Crypto Exchanges in the UAE
OKX
👉 First globally licensed exchange in the UAE
- License: Granted by Dubai’s VARA in January 2024 (pending full operational status).
Offerings:
- 350+ crypto tokens for spot trading (AED deposits/withdrawals supported).
- Arabic-language platform for MENA users.
- Limitations: Currently only spot services are approved for UAE clients.
- Global Reach: 50M+ users across 100+ countries; pursuing Hong Kong licensing.
CoinMENA
- License: Operates under UAE and Bahraini regulations.
Offerings:
- 52 cryptocurrencies for spot trading.
- Bank transfers and card deposits/withdrawals.
- User Base: 900,000+ clients across GCC/MENA.
- Institutional Services: Partners with Onramp Bitcoin for custody solutions.
M2
- License: Abu Dhabi’s ADGM-regulated Multilateral Trading Facility (MTF).
Offerings:
- 50 tokens for spot trading; future AED fiat support.
- Bitcoin Earn product (up to 10.5% yield via Phoenix Group partnership).
- Backing: $300M equity investment.
RAIN
- License: First MENA-licensed broker (Bahrain/UAE via ADGM).
Offerings:
- 70 tokens with 0% trading fees.
- AED on/off-ramps via UAE bank partnerships.
Fasset
- License: Dubai VARA-approved broker (November 2023).
Offerings:
- 5 tokens; claims gold-blockchain investments (regulatory scope unclear).
Comparison Tables
Regulatory Status
| Exchange | License Type | Jurisdictions |
|----------------|--------------------|---------------------|
| OKX | Crypto Exchange | UAE, Hong Kong |
| CoinMENA | Crypto Broker | UAE, Bahrain |
| M2 | MTF/Custodian | UAE (ADGM) |
Fee Structures
| Exchange | Maker Fee | Taker Fee | Min Deposit (USD) |
|----------------|-----------|-----------|-------------------|
| OKX | 0.08% | 0.10% | $10 |
| M2 | 0.02% | 0.04% | $50 |
| RAIN | 0.15% | 0.30% | $20 |
Institutional-Focused Exchanges
- GCEX: $50K min deposit; 50 tokens.
- Matrix: $50K min deposit; 7 tokens.
- Venomex: Fees undisclosed (pending notice).
FAQs
1. Which UAE exchange has the lowest fees?
M2 offers competitive rates (0.02% maker/0.04% taker), while RAIN promotes zero trading fees.
2. Can I trade AED pairs?
Yes! OKX, RAIN, and M2 support AED transactions.
3. Are Binance or ByBit licensed in the UAE?
Not yet, but VARA plans to license 72 more entities soon.
Future Outlook
The UAE’s crypto market is expanding rapidly, with VARA expecting 72 new licenses soon. 👉 Stay updated on regulatory shifts. Increased competition will benefit traders through better services and lower costs.
Disclaimer: Verify regulatory statuses directly with exchanges, as offerings may evolve.
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