Best Forex Brokers in Kuwait 2020

Last Update: Mar 19, 2020 01:15 PM GMT

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Finding a forex broker that you can rely on in Kuwait is not an easy task. However, FXEmpire have conducted in depth research in order to narrow down your options. Here you will find a list of the best forex brokers in Kuwait.

The brokers below represent the best forex brokers for trading in Kuwait.

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Rating	Official Site	Regulations	Min Deposit	Max Leverage	Trading Platforms	Foundation Year	Trading Desk Type	Official Site
4.8 By 10 User Reviews	Visit Broker> Your capital is at risk	ASIC, CySEC	$100	1:500	IRESS, MT4, MT5, webtrader	2005	No dealing desk	Visit Broker> Your capital is at risk
4.4 By 58 User Reviews	Visit Broker> Your capital is at risk	CySEC, IFSC	$1	1:3000	MT4, MT5	2009	ECN, No dealing desk, STP	Visit Broker> Your capital is at risk
3.2 By 34 User Reviews	Visit Broker> 62% of retail CFD investors lose money	ASIC, CySEC, FCA, MiFID	$200	1:30	cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade	2007	Market Maker, No dealing desk, STP	Visit Broker> 62% of retail CFD investors lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Here’s a list of The Best Forex Brokers for trading in Kuwait:

FP Markets
FBS
eToro
General Regulation & Kuwait Regulation

Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

FP Markets

4.8

By 10 User Reviews

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

Visit Broker

Your capital is at risk

FP Markets Review

A solid Australian broker, with sturdy ASIC regulation that offers transparent dealing, across a wide selection of 10,000 plus assets. A variety of account types across Forex and CFD’s and 0 pips spreads on their ECN trading. Leverage on the MT4 platform of up to 1:500 and trading of Bitcoin too.

Pros	Cons
DMA and ECN execution Over 10,000 trading instruments to choose from. Modern trading platforms. Low spreads on forex currency pairs.	Really none that we can see

FBS

4.4

By 58 User Reviews

Regulated By:CySEC, IFSC

Foundation Year:2009

Headquarters:N/A

Min Deposit:$1

Visit Broker

Your capital is at risk

FBS Review

FBS Markets Inc. is a Forex and CFD broker that offers its services across the globe. The company was established in 2009 and since then, the brand has grown in size, capacity and technology. It offers currency pairs, CFDs, stocks, metals and cryptocurrencies on MT4 and MT5 platforms.

FBS Markets offers 37 currency pairs, 4 metals, 3 CFDs, 4 cryptocurrencies and 32 stocks.

FBS provides the MT4 and MT5 trading platforms as WebTrader, desktop applications and mobile applications. For leverage accounts, this brokerage offers leverage of up to 3000:1.

Pros	Cons
Broker is regulated by CySEC and the IFSC Access to investor compensation in case of broker fraud Comprehensive trader education Good variety of research tools Low capital requirements for account opening	Spreads are higher than many retail brokers Regulation of global brand is not as robust as the EU brand Leverage offered on global brand is too high (careful risk management is a must)

eToro

3.2

By 34 User Reviews

Regulated By:ASIC, CySEC, FCA, MiFID

Foundation Year:2007

Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit:$200

Visit Broker

62% of retail CFD investors lose money

eToro Review

Known as one of the pioneers for social trading, eToro was established in 2007 to make financial markets more accessible to the average retail trader. The broker helped lead the way in social trading, when it introduced the revolutionary “OpenBook” trading platform to the online trading industry.

The broker has also been a forerunner in the introduction of innovative financial instruments such as ‘Copy Funds”. Likewise, eToro has not been slow in offering its clients a range of cryptocurrency assets to trade with. Regulated by the Cyprus Securities & Exchange Commission (CySEC), eToro’s traders can rest assured that their funds deposited with this broker will remain safe.

Pros

Highly regulated broker (FCA, CySEC and ASIC)
Innovative trading platform
Wide range of assets to trade with
Ability to earn 2% management fee as an Investor trader

Cons

Spreads are higher than average
Does not have the MetaTrader platform

General Regulation & Kuwait Regulation

The trading of forex as well as the regulation of forex brokers in Kuwait is provided by the Central Bank of Kuwait (CBK). The Central Bank of Kuwait also provides strict enforcement of laws that punish any wrongdoing on the part of the regulated brokers.

Apart from CBK-regulated forex brokers, offshore forex brokerage companies also offer their products to the Kuwaiti investing populace, either directly through adverts or using local agents/introducing brokers. Kuwaitis who trade forex with these offshore brokers and their agents do not enjoy the protections that investors who trade with CBK-regulated forex brokers enjoy.

Trading Platform & Software

As a Kuwaiti forex trader, you will be served with various turnkey and proprietary forex platforms to enable you trade forex and other CFD instruments. Some of the forex platforms represented within the Kuwaiti forex brokerage community include the AX1 platform and the MT4. Mobile trading apps unique to each brokerage are also available.

Commissions & Spreads

Kuwaiti forex brokers are allowed to charge nominal trading fees and commissions in addition to the spread. Some of the popular Kuwaiti forex brokers offer up to 50 currency pairs for trading, as well as other CFD assets. The CBK does not impose leverage limits. However, leverage of 1:100 is generally provided. No bonuses are awarded to traders. Spreads typically start from 0.5 pips.

Account Types

The account types offered by Kuwaiti forex brokers are not like the usual stratification of accounts found in brokerages in other parts of the world. Accounts are classified based on the offering of special services in addition to regular forex and CFD trading services.

Customer Service

The forex trading market in Kuwait boasts of a larger presence of expats than local traders. In order to appeal to the expat audience, most of the customer service channels offered by Kuwaiti forex brokers are rendered primarily in English language. Arabic is also used to serve the local trading populace.

Additional Services

Additional services that forex brokers in Kuwait offer their clients include the following:

Capital protection forex account: This is a fixed capital + forex trading account where the investor can park funds (minimum of $50,000) and allow the brokerage to use the funds for a return of 18% after a lock-in period of 18 months. Two varieties exist: a tradable and a non-tradable version. This is only offered by select brokers.
Extensive training and tutorials through offline trading academies.

FAQ’s

Is Forex trading legal in Kuwait?

Yes trading forex is considered legal in Kuwait

Does Kuwait regulate forex trading?

The Central Bank of Kuwait (CBK) regulates and licenses forex brokers and sets out guidelines under which the entire industry operates.

Can Kuwaiti forex traders trade with brokers in other EU countries?

Yes, they can. However, such traders will not enjoy any compensatory packages in case of financial loss arising from broker misconduct.

Here is a list of recommended Kuwaiti forex brokers that meet our conditions of reliability and service delivery.

Conclusion

It is highly recommended that Kuwaiti forex traders use CBK-regulated forex brokers as these are the brokers under whom maximum protection of funds is guaranteed. In addition, compensatory plans are only approved for traders who maintain accounts with CBK-regulated forex brokers.