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24 Best Forex Brokers in Qatar

24 Best Forex Brokers in Qatar

 

Forex Brokers Qatar

 

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

Qatar is a country which is located in Western Asia with a population of 2,782 Million Potential Forex TradersQatar has the fourth-highest GDP per capita in the world with an economy based on multiple avenues, including oil, energy, and transport.

 

Here are our 10 Best Handpicked Forex Brokers in Qatar

For Business to be successfully conducted, Currency Exchange, and therefore Forex Trading is 100% legal within the country.  Qatari Traders can make their choice of Broker from 24 of the Best Forex Brokers and Trading Platforms that accept local investors.

 

eToro broker review

 

eToro

 

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.

 

XM broker review

 

XM Group

 

XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).

There are four account types on offer – Micro, Ultra-Low, Standard, and Zero which all allow for up to 200 open/pending positions per client.  XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDsForex trading is available on over 55 pairs, including the major USD, GBP, EUR, and JPY pairs.  Traders must take note that XM does not offer binary options or futures.

Customer Service is available via live chat, phone, and email support.

 

Alpari broker review

 

Alpari

 

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.

 

IC Markets broker review

 

IC Markets

 

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.

 

Feature IC Markets
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.

 

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.

 

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 which 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 to phone, email, online chat options – WhatsApp, live chat, Viber, Telegram, or Messenger.

 

HotForex broker review

 

HotForex

 

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.

 

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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FxPro broker review

 

FXPro

 

FXPro is an online broker which 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.

 

BDSwiss broker review

 

BDSwiss

 

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 – BasicRaw, 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.

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.

 

BlackBull Markets broker review

 

BlackBull Markets

 

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 chat, both of which are open 24 hours on all trading days.

 

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.

 

HYCM broker review

 

HYCM

 

HYCM is an online broker which 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.

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Olymp Trade broker review

 

Olymp Trade

 

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 materialsCustomer Support is available via phone, email, and their website.

 

Trading 212 broker review

 

Trading 212

 

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:

 

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.

 

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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 which 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.

 

XTB broker review

 

XTB

 

XTB is a European broker which was founded in 2002 and has offices in 13 countries across the globe.  XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

 

XTB is a fintech company that combines financial services with innovative technology and it offers clients two platforms to choose from:

  • xStation 5
  • MT4

 

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3 am Saturday to 9 pm Friday). Traders can buy or sell digital coins with 2:1 leverage and a 365-day expiry.

 

Trading Features: Accounts offered: Funding methods:
Allows scalping Demo account Credit cards
Allows hedging Micro account Bank Transfer
Offers STP Mini account PayPal
Low min deposit Standard account Skrill
Guaranteed stop loss Islamic account Payoneer
Offers Negative Balance Protection Neteller

 

XTB supports a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

 

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.

 

FBS broker review

 

FBS

 

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.

 

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.

 

RoboForex broker review

 

Roboforex

 

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.

 

Admiral Markets broker review

 

Admiral Markets

 

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized, and has a head office based in the UK.  Traders will need a minimum deposit of US Dollar 200 to start and can sign up for a demo account in over 148 instruments and over 40 currency pairs.

Admiral Markets is authorized and regulated by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Estonian Financial Supervision Authority (EFSA).

 

Admiral Markets Trading benefits include:

 

Admiral Markets Trading Accounts Offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • STP account

 

Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOSAdmiral Markets offers multilingual customer support via Telephone, Live Chat, and Email.

 

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OctaFX broker review

 

OctaFX

 

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.

 

Conclusion

There are thousands of Forex brokers around the world, and Qatar 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.

 

FAQ’s

 

Is forex trading legal in Qatar?

Yes, it is

Which is Qatar’s most used forex broker?

XTB

Is forex trading a gamble in Qatar?

Forex trading anywhere is always a gamble.

How many forex traders are there in Qatar?

The estimate is around 150 000 monthly forex traders.

Can you make money with forex trading in Qatar?

75% of all traders lose money*

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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FINEXO Review

Overall, FINEXO is regulated by two tier-1 regulators, two tier-2 regulators, and four tier-3 regulators respectively. It has a high trust score of 97 out