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20 Best Forex Brokers in Cuba

20 Best Forex Brokers in Cuba

 

Forex Brokers Cuba

 

Finding the list of the Best Forex Brokers in Cuba and worldwide can be a difficult process, especially finding a list of trustworthy brokers who accept Cuban traders and who allow these traders to invest in their currency, the Cuban(CUP).

Cuba is a country that comprises the island of Cuba as well as Isla de la Juventud and several minor archipelagos which boasts a population of 11,34 Million Potential Forex Traders.

The Cuban economy is largely based on natural resources, important mineral resources, and Tourism, which makes currency exchange a daily occurrence.

 

Here are our 10 Best Handpicked Forex Brokers in Cuba

Forex Trading is both safe and legal, and Cuban Forex Traders can make their choice of Broker from 20 of the Best firms that accept local investors.

 

IQ Option broker review

 

IQ Option

 

IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and Seychelles, and regulated by the FCA and CySECIQ 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.

 

You might like: Learn more about online forex courses.

 

Olymp Trade broker review

 

Olymp Trade

 

Olymp Trade was Established in 2014 and boasts over 25k active traders each day.  Olymp Trade is regulated by the International Financial Commission (IFC) and headquartered in St. Vincent and the Grenadines.

Apart from the demo account, there are two different accounts on offer – Standard and VIP.  The Olymp Trade platform is the only trading platform on offer and can be accessed via the web, a dedicated desktop application (available for Windows and Mac), and a smartphone/tablet app (available for Android/iOS).

 

Olymp Trade offers users the opportunity to trade in the following markets:

  • Stocks
  • Commodities
  • ETFs
  • Currencies
  • Cryptocurrency

 

Customer Service is available 24/7 via phone, email, and their website.

 

avatrade Broker review

 

AvaTrade

 

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.

 

Expert Opinion Broker Review

 

Expert Option

 

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.

 

XM broker review

 

XM

 

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.

 

eToro Broker Review

 

eToro

 

eToro is an online broker that 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.

 

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OctaFX broker review

 

OctaFX

 

OctaFX is an online broker that was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.

OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

 

OctaFX Trading benefits:

 

OctaFX Trading Accounts Offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • STP account
  • Islamic account

 

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.  Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp, and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

 

FxPro broker review

 

FXPro

 

FXPro is an online broker that was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals, and Spot Energies tradingFXPro 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 brokerFxPro 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: 

 

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.

 

Read 27 Best Forex Brokers in Zimbabwe

 

Exness Broker Review

 

Exness

 

Exness is authorized by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks, and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS, and the Exness Web Terminal.

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro, and Zero. Demo accounts and Islamic swap-free accounts are also available.  Exness offers over 105 different instruments to trade, including over 103 currency pairs.

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

 

Alpari Broker Review

 

Alpari

 

Alpari International is the business name of Exinity Limited which is by the Financial Services Commission (FSC) of the Republic of Mauritius and offers traders more than 250 tradable assets across Forex, Stocks, Indices, Metals, Cryptocurrencies, and Futures, across the MetaTrader suite of trading platforms.

Four main types of trading accounts are on offer: Standard MT4, Micro MT4, Pro MT4, and ECN MT4/5. A Stocks Trading account, as well as a swap-free account, the use of a free demo trading account, and an Alpari Invest account, are also made available.

Customer support is available 24/5 via Live Chat, Telegram, Email, and phone.

 

Interactive Brokers Review

 

Interactive Brokers

 

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.

 

OANDA Broker Review

 

OANDA

 

OANDA is a globally regulated Forex and CFD broker that also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities, and Bond CFDs on the broker’s own proprietary trading platform for desktop, web, and mobile, as well as on MetaTrader 4.

 

OANDA is the most Regulated Forex Broker and operates across six of the most credible authorities including:

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority Of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

 

OANDA has 2 accounts on offer: a Standard Account and Premium Account. Each account comes with its own unique features and benefits. A free demo trading account is also on offer.

Customer support is available via a FAQ section, an OANDA Virtual Assistant, and phone.

 

You might also like: BEST FOREX BROKERS IN CYPRUS

 

Pepperstone broker review

 

Pepperstone

 

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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Swissquote Broker Review

 

Swissquote

 

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 BondsTraders 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.

 

HYCM Broker Review

 

HYCM

 

HYCM is an online broker that was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Traders starting with HYCM will need to make a minimum deposit of at least US Dollar 100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

 

A wide variety of instruments and currency pairs are available for trade:

  • Over 100 instruments
  • Over 40 currency pairs

 

HYCM Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit

 

HYCM Trading Accounts on offer include Demo, Micro, Mini, Standard, and Islamic, and the minimum and maximum trade requirements will vary depending on the trader and the instrument.  HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat, and Phone – 24/5.

 

Tickmill Broker Review

 

Tickmill

 

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.

 

Read 27  Best Forex Brokers in Tanzania 

 

easyMarkets Broker Review

 

EasyMarkets

 

EasyMarkets is one of the most popular choices for Beginners and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy to use forex trading platform

 

EasyMarkets offers traders three key risk management tools that are ideal for those new to currency trading:

 

Standard, Premium, VIP, and SuperVIP accounts are available, 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 available trading platforms offered are MT4 and the easyMarkets web platform. 

Customer Support is available 24/5 via various chat channels, email, phone, and web forms.

 

FP Markets broker review

 

FP Markets

 

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:

 

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.

 

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FXTM Broker Review

 

Forex Time (FXTM)

 

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different account types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker that offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

 

FXTM offers traders the opportunity to trade in the following markets:

  • Forex
  • Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc) Please take Note: FXTM offers crypto trading via Exinity Limited, and Instruments on offer are based on a trader’s country of residence.
  • CFDs for Indices and Commodities (FTSE, DAX, Nasdaq, etc)
  • Spot metals (Gold, Silver)
  • Shares CFDs (Apple, BP, Google, etc)

 

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Customer Service is available telephonically email, online chat options – WhatsApp, live chat, Viber, Telegram, or Messenger.

 

Nord FX Broker Review

 

NordFX

 

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.

 

Read 27  Best Forex Brokers in Namibia 

 

In conclusion

 

There are thousands of Forex brokers around the world, and South African residents can register and trade with each of them. Traders are advised to stick to brokers regulated by the FSCA – Financial Services Conduct Authority of Cuba formerly known as the FSB.

Many Forex brokers may appear similar but there are understated differences that make each broker uniquely suitable for a different type of trader.

 

FAQ’s

 

Is forex trading legal in Cuba?

Yes, it is

Which is Cuba’s most used forex broker?

XTB

Is forex trading a gamble in Cuba?

Forex trading anywhere is always a gamble.

How many forex traders are there in Cuba?

The estimate is around 150 000 monthly forex traders.

Can you make money with forex trading in Cuba?

75% of all traders lose money*

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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