Best Forex Brokers in Kuwait 2022
The brokers below represent the best forex brokers for trading in Kuwait.
| Broker | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | offers promotions |
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 | Visit Broker> DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations. | ASIC, CySEC | $100 | 1:30 (ASIC), 1:30 (CySEC) | MT4, MT5, IRESS, WebTrader | 2005 | DMA, ECN, No dealing desk, STP | |||||||
 | Visit Broker> 82% of retail CFD accounts lose money | FCA, CySEC, FSC | $10 | 1:30 (FCA), 1:30 (CySEC), 1:3500 (FSC) | MT4, MT5 | 2011 | No dealing desk | |||||||
 | Visit Broker> 68% of retail CFD investors lose money | FCA, ASIC, CySEC, MiFID | $199 | 1:-2 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (MiFID) | eToro Platform | 2007 | Market Maker, No dealing desk, STP | |||||||
 | Visit Broker> 77% of retail CFD accounts lose money. | FCA, ASIC, CySEC, ISA, MAS | $100 | 1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:100 (ISA), 1:20 (MAS) | Plus500 | 2008 | No dealing desk |
FP Markets
Regulated By:ASIC, CySEC
Foundation Year:2005
Headquarters:Australia
Min Deposit:$100
DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
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.
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FXTM
Regulated By:FCA, CySEC, FSC
Foundation Year:2011
Headquarters:Cyprus
Min Deposit:$10
82% of retail CFD accounts lose money
FXTM, short for ForexTime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. CFDs are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.
Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in Cyprus and licensed by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission, and other regulators in and out of the EU. A free demo account is available.
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eToro
Regulated By:FCA, ASIC, CySEC, MiFID
Foundation Year:2007
Headquarters:Cyprus
Min Deposit:$199
68% of retail CFD investors lose money
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.
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Plus500
Regulated By:FCA, ASIC, CySEC, ISA, MAS
Foundation Year:2008
Headquarters:Israel
Min Deposit:$100
77% of retail CFD accounts lose money.
Plus500 is a publicly traded company that was founded in 2008 and is the main sponsor of football club Atlético Madrid. The Plus500 trading platform is offered by Plus500 UK Ltd which is authorised and regulated by the UK Financial Conduct Authority and is also a subsidiary of Plus500 Ltd which is a publicly-traded company listed on the London Stock Exchange.
The broker’s trading platform is available in more than 50 countries and is authorised and regulated around the world by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS) and the Israel Securities Authority (ISA), among others.
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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
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Is Forex trading legal in Kuwait?
Yes trading forex is considered legal in Kuwait
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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.
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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.
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