27 Best Forex Brokers in the Bahamas
Finding the list of the Best Forex Brokers in The Bahamas and worldwide can be a difficult process, especially finding a list of trustworthy brokers who accept Bahamian traders and who allow these traders to invest in their currency, the Bahamian Dollar (BSD).
The Bahamas is a country which is situated within the Lucayan Archipelago of the West Indies in the Caribbean and boasts a population of 385,640 Potential Forex Traders.
Here are our 10 Best Handpicked Forex Brokers in The Bahamas
The Bahamas is one of the richest countries in the Americas and relies heavily on tourism to generate most of its economic activity. The second most important economic sector is banking and offshore international financial services, making the exchange of currency 100% legal.
Here is an overview of the 27 Best Forex Brokers and Trading Platforms that accept traders who are located in the Bahamas.
OctaFX is a Forex ECN broker registered by CySEC in St. Vincent and the Grenadines and offers the option to trade on Forex, Indices, Metals, and Cryptocurrencies via CFDs, across the MetaTrader and cTrader suite of trading platforms as well as their own OctaFX Trading App.
Three main types of trading accounts are on offer – MetaTrader 4 Micro, MetaTrader 5 Pro, and cTrader ECN. OctaFX also offers Copy Trading accounts, a swap-free account, and demo trading accounts. OctaFX offers 24/5 customer support via Live Chat, Email, Phone, WhatsApp, and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.
Alpari with its long-standing brand history, numerous offices, range of account types, and diverse managed account offerings are the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms. Alpari is regulated by the FSC.
Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker. The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.
Alpari offers traders more than 250 tradable assets to trade across Forex, Stocks, Indices, Metals, Cryptocurrencies, and Futures on the MetaTrader suite of trading platforms.
In addition to a demo account, 4 more accounts are on offer. These 4 accounts are divided into standard accounts and enhanced accounts, which are known as ECN types. The standard account options are available as a basic option and are known as the MT4 MicroAccount and the standard MT4 account. The accounts more suited to experienced traders are the standard ECN account and the ECN Pro Account, which offer instant execution.
Customer Service is available via live chat, email, and phone service.
FXPro is an online broker which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals, and Spot Energies trading. FXPro is a global broker with a head office located in the UK. FxPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated broker, FxPro is also a member of the Investor Compensation Fund scheme.
FXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of US Dollar 100.
What can be traded with FXPro?
- Over 250 instruments
- Over 70 currency pairs
FXPro is one of the few brokers in the market that offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.
FXPro Trading benefits include:
- Allows scalping
- Allows hedging
- Low min deposit
- Offers Negative Balance Protection
With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.
FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone, and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.
FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Trading and is a global broker with a head office in Cyprus.
- Regulated by: Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
- Used by over 10,000 traders
FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs. FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs.
|Trading Features:||Accounts offered:||Funding methods:|
|Allows scalping||Demo account||Credit cards|
|Allows hedging||Micro account||Bank Transfer|
|Offers STP||Mini account||Payoneer|
|Low min deposit||Standard account||Neteller|
Customer Support is available via email, webform, phone, and live chat.
AvaTrade is an online broker founded in 2006 offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading.
- Regulated by: Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI)
- Headquarters: The British Virgin Islands
- Foundation year:2006
- Used: by over 200,000 traders
Across all markets, MetaTrader 4 gives traders access to over 250 assets, 30 advanced charting tools, trading history, and other useful information. Customer support is available by email, phone, or live chat.
FBS is a Forex and CFD broker which is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC). FBS offers users the option to trade on Forex, Indices, Stocks, Metals, and Energies on the MetaTrader 4, MetaTrader 5, and FBS Trader trading platforms for PC, Mac, Web, Android, and iOS with a maximum 1:3000 leverage, copy trading services and a range of bonus promotions.
Five different trading accounts are available – Cent, Micro, Standard, Zero Spread, and ECN. Each account offers different features and benefits respectively. Demo trading and swap-free accounts are also available.
Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber, and Facebook Messenger.
Interactive Brokers was founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Interactive Brokers offers many account types, which fall into two big groups:
- accounts for individual traders and investors
- accounts for institutions
Traders can choose between two different web trading platforms: The Client Portal and Webtrader and IBKR Mobile, Interactive Brokers’ mobile trading platform, is available both for iOS and Android. Users can trade on Stock, Forex, Option, and Futures – to name but a few.
Customer Service is available 24/7 via Live Chat, Phone, and Email.
Tickmill is a Forex and CFD broker with licenses from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities, and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android, and iOS.
Three main trading accounts called the Pro Account, Classic Account and VIP Account are on offer, each which offers different minimum balances, maximum leverage, spreads, and commissions respectively. Demo trading and Islamic swap-free accounts are also made available.
Multilingual client service is available via Telephone, Email, Online Contact Form, and Live Chat.
Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO. The Saxo Group is regulated in 15 jurisdictions including authorization from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA), and many more.
Deposits can be made via credit and debit cards, bank transfers, and stock transfers. Customer support is available in nearly 30 different languages via phone, email, and an FAQ section.
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Swissquote Bank offers traders the ability to trade in Forex, CFDs, and Options on a variety of asset classes which includes Currency pairs, FX Options, Metals, Indices, Commodities, and Bonds. Traders can choose to trade on a variety of trading platforms including the bank’s own Advanced Trader platform and MetaTrader 4 and 5. Swissquote Bank Ltd holds a banking license issued by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.
Swissquote Bank offers traders four different trading accounts to choose from including Standard, Premium, Prime, and Professional, as well as access to a free demo trading account. Users can deposit funds via bank wire transfer or via Visa or Mastercard. Customer support is offered in ten different languages via Live Chat, Telephone, Email, and an Online Contact Form.
XTB is a trusted multi-asset broker regulated in several major financial centers and provides a well-rounded, competitive offering including excellent customer service and the xStation 5 trading platform. XTB was founded in 2002 and is regulated by CNMV in Spain, CySEC, FCA, IFSC, KNF.
XTB offers traders a Standard (for UK and Ireland residents only) and a commission-based Pro account and each account will come with its own execution method and spread model, in terms of commissions and fees. The xStation 5 is the primary platform offering alongside the full MetaTrader 4 suite. Since xStation 5 does not support automated trading, MT4 must be used. A Mobile trading option is also on offer.
Traders can reach customer service in multiple languages, including some minor ones like Hungarian or Romanian, via Live Chat, Telephone, and Email.
IC Markets was founded in 2007 and International Capital Markets Pty Ltd (IC Markets) was established in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009 and is considered average-risk.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||63|
|CFDs – Total Offered||41|
|Social Trading / Copy-Trading||Yes|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
IC Markets offers three account types in which trading costs vary from commission-free on the Standard account to commission-based pricing on the True ECN and cTrader accounts and IC Markets provides a mobile version of all the platforms it offers, including MetaTrader 4 and MetaTrader 5, and cTrader, all of which come standard for iOS and Android.
IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.
Customer Support is available via Phone, Live Chat, and Email.
FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offers Forex trading and has a head office situated in Australia. When starting with FP Markets traders will need to make a minimum deposit of US Dollar 100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.
Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.
FP Markets Trading benefits include:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Offers Negative Balance Protection
FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.
Customer Service is available via email, phone, and live chat.
eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK. eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.
eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of US Dollar 200 and the platform can accommodate various levels of traders from beginner to expert. Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.
eToro trading accounts on offer include Demo, Micro, Mini, Standard, STP, and Islamic. eToro supports a wide range of languages including English, German, Spanish, French, and Italian. 24/6 customer support is available via telephone and support ticket.
Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).
Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –
Boasts three top forex trading platforms:
- MetaTrader 4: Most Popular for Forex Trading
- MetaTrader 5: Most Popular CFDs Trading Platform
- cTrader: Best Automated Trading Platform
All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days.
Platform enhancements available for Pepperstone include:
- MetaTrader 4 smart trader tools
- cTrader Automate
- Autochartist and
- API trading
A range of options for depositing funds is available, including Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill, and QIWI.
Pepperstone offers 24/5 multiple language support via email, phone, and live chat.
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EasyMarkets is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner and established forex traders:
- Enhanced risk management tools as standard
- Fixed spreads on all forex pairings
- An easy to use forex trading platform
Risk Management Tools on offer include:
- Guaranteed Stop Loss Orders
- Negative Balance Protection
EasyMarkets offer traders a choice of 4 Account types, Standard, Premium, VIP, and SuperVIP. Their minimum opening deposits are US Dollar 100, US Dollar 1 000, US Dollar 2 500, US Dollar 50 000 respectively. A demo account is also on offer. The trading platforms on offer are the MT4 and the easyMarkets web platform.
EasyMarkets offers award-winning customer service during market hours via live chat, email, fax, or telephone. EasyMarkets customer service is available in four languages – including English, Polish, Chinese, and Arabic.
Leverage: 1:30 to 1:888 *Depends on the entity of the group
Regulation: CySEC, ASIC, IFSC
Min. Deposit: USUS Dollar 5
HQ: Cyprus, Australia, Belize
Platforms: MT4, MT5, XM WebTrader
Founded in: 2009
XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC. 1.5 Million Traders and investors choose XM and their wide range of XM trading products on offer. Four main account types are on offer – Micro, Standard, XM Ultra-Low Account, and Shares Accounts. Traders can select the base currency of their preference from a large selection on offer. This range includes South African Rand (ZAR), Singapore Dollar (SGD), and other global currencies.
Customer Support is available via live chat, email, and phone.
NordFX is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC). NordFX offers Forex trading with specific accounts for each type of trader, including Zero accounts which offer spreads from 0 pips, while the Crypto account offers optimal cryptocurrency trading. Types of trading accounts are – Fix, Pro, Zero, and Stocks.
Trading instruments on offer ranges from more than 30 currency pairs, the popular precious metals gold & silver, 11 major cryptocurrency pairs, plus CFDs based on Brent oil and stock indices such as Dow Jones 30, S&P 500, DAX 30, NASDAQ 100, and NIKKEI 225.
NordFX offers customer support via Email, Telephone, and a 24/5 Live Chat function plus an Online Contact Form available on their website.
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HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA, and SFSA.
The HotForex MT5 Terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging, and one-click trading, and 80+ technical indicators plus an in-built economic calendar.
The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.
Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.
Key features include:
- Supports: MT4, MT5 for desktop, web & mobile
- Minimum deposit: US Dollar 5
- Leverage: 1:1000
- Trading Instruments: Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals
Customer support is available via phone and email.
FXCM caters to multiple trader types including High-volume traders, algorithmic traders, and traders who appreciate robust trading tools and quality market research. FXCM is considered low-risk. FXCM’s parent company is publicly-traded, does not operate a bank, and is regulated by the UK’s FCA and the Australian ASIC.
FXCM offers a growing range of trading platforms and tools including:
- Trading Station desktop: FXCM’s flagship trading platform, caters well to forex traders of all skill levels.
- Trading Station web: The web version of Trading Station features includes news, videos, research, market data signals, and links to external resources.
- Ninja Trader: Features numerous trading tools, including automated trading capabilities.
- Algorithmic Trading: The FXCM App store provides various add-ons, technical indicators, and automated trading robots.
FXCM provides a wide variety of market research and related resources. A combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders. FXCM provides free phone support for the residents of 42 countries plus support via SMS, e-mail, and live chat. Support agents speak over 20 languages.
Trading 212 is an online broker which was founded in 2006 and offers Stocks trading, Forex trading, Commodities trading, and Indices trading. Trading 212 is a global broker and has a head office situated in the UK.
- Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
- Used by over 14,000,000 traders.
- Trading 212 are the UK’s number one trading and investment app with over 14,000,000 downloads, thus a large userbase but is not available in the following countries: US
Trading 212 Trading benefits:
- Allows hedging
- Offers STP
- Low min deposit
- Guaranteed stop loss
- Offers Negative Balance Protection
Trading 212 Trading Accounts Offered:
- Invest account
- ISA account
- CFD account
- Demo account
Trading 212 offers an outstanding, highly responsive customer service team available 24 hours a day across a variety of platforms and in 16 different languages.
Roboforex is an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading. RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.
When starting with Roboforex traders will need to make a minimum deposit of US Dollar 1 and there is an option available for a demo account for those who would like to get acquainted with the platform. Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs. Roboforex offers over 100 instruments and over 35 currency pairs in total.
Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders. Roboforex also offers mobile apps for Android and iOS.
Roboforex Trading benefits:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP, and Islamic.
Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email, and a call-back request.
IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and Seychelles, and regulated by the FCA and CySEC. IQ Option offers traders three trading account to choose from, Retail, Professional, and Demo.
IQ Option offers the following underlying assets for FX trading.
|90+ Currency Pairs||Based on major and minor world currencies.|
|17 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.|
|5 Indices CFDs||Based on baskets of different blue-chip stocks.|
|3 Metal CFDs||Based on Gold, Silver, and Platinum.|
|2 Energy CFDs||Based on Crude Oil (WTI, Brent).|
|1 Soft CFD||Based on Wheat.|
|130+ Stock CFDs||Based on shares of US, UK, and EU companies.|
|28+ ETF CFDs||Based on exchange-traded funds containing various tradable assets.|
IQ Option offers the following underlying assets for Binary Options trading (unfortunately, not available for EU residents).
|30+ Currency Pairs||Based on major and minor world currencies.|
|2 Indices BOs||Based on DFMGI, TelAviv-25.|
|2 Metal BOs||Based on Gold and Silver.|
|20+ Stock BOs||Based on shares of US companies.|
Payment methods accepted include all the usual options like VISA, MasterCard, Skrill, and Neteller, plus a range of other online money transfer services, including AstroPay, Qiwi, and WebMoney. IQ Option’s trading platform is web-based and supports both binary options and forex & CFD trading within the same user interface.
Customer support is available 24/7 via email and local phone numbers in 13 countries.
BDSwiss is a Forex and CFD broker which offers over 250 instruments to trade on covering Forex, Commodities, Cryptocurrencies, Indices, and Equities, from 3 account types on the MetaTrader 4 and MetaTrader 5 platform. BDSwiss is well regulated by CySEC and offers traders 3 types of accounts – Basic, Raw, and Black VIP. These accounts come with a minimum deposit of US Dollar 100 except the Raw account which has a monthly subscription fee of between US Dollar 1 and US Dollar 79.
BDSwiss offers both full demo and Islamic accounts are available and traders can fund their account through wire transfer deposits as well as through credit card and deposits which are fee-free in most cases.
BDSwiss offers multilingual customer support 24/5 via Live Chat, Telephone, Email, Call Back, WhatsApp, Telegram, and an FAQ section.
BlackBull Markets is a forex & CFD brokerage which is fully regulated by New Zealand’s Financial Service Providers Register (FSPR). Trading instruments on offer include more than 20 foreign currency pairs, six major stock indices, and the popular commodities gold, silver, as well as WTI & Brent oil which can all be traded across either the classic MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) platforms.
Customer support is available via phone or lives to chat, both of which are open 24 hours on all trading days.
Olymp Trade is a well-known online trading platform, which offers traders multiple different assets, including binary options. Olymp Trade is regulated by the IFC. Safety measures and precautions are put first by this platform and it is considered a financial organization that keeps the interests of its clients in mind at all times.
Apart from the demo account, a standard and VIP account is available respectively. To open a standard account, users only need to make a minimum deposit of £10 and to qualify for a VIP account, users need to deposit at least £2,000.
Traders are also offered access to educational resources and training materials. Customer Support is available via phone, email, and their website.
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Expert Option is a binary options broker and is regulated by the Vanuatu Financial Services Commission (VFSC) with license number 15014. Expert Option is focused exclusively on offering binary options for trading, and traditional CFD & forex trading is not on offer. Assets on offer include – all major and some minor forex pairs, a selection of 16 popular cryptocurrencies, stocks of US-based companies, as well as gold, silver, and oil. The trading platform offered by Expert Option is designed specifically for trading in binary options and is web-based.
Accounts on offer include a free demo account, a Basic account, Silver, Gold, and Platinum. Account funding can be done via a variety of payment methods, including common credit & debit cards, Neteller, Skrill, UnionPay, WeChat Pay, and AliPay. Customer support is available in English 24 hours per day, 7 days per week.
There are thousands of Forex brokers around the world, and Bahamas residents can register and trade with each of them.
Many Forex brokers may appear similar but there are understated differences that make each broker uniquely suitable for a different type of trader.
Is forex trading legal in the Bahamas?
Yes, it is
Which is the Bahamas’ most used forex broker?
Is forex trading a gamble in the Bahamas?
Forex trading anywhere is always a gamble.
How many forex traders are there in the Bahamas?
The estimate is around 150 000 monthly forex traders.
Can you make money with forex trading in the Bahamas?
75% of all traders lose money*