Best Forex Brokers in Kuwait 2019
FBS
Regulated By:CySEC, IFSC
Foundation Year:2009
Headquarters:N/A
Min Deposit:$1
Your capital is at risk
Your capital is at riskeToro
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
75% of retail CFD investors lose money
75% of retail CFD investors lose moneyFP Markets
Regulated By:ASIC
Foundation Year:2005
Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia
Min Deposit:$100
Your capital is at risk
Your capital is at riskAvaTrade
Regulated By:ASIC, BVI, CBI, FSCA
Foundation Year:2006
Headquarters:Five Lamps Place, 77-80 Amiens Street, Dublin 1, DO1A742, Dublin, Ireland
Min Deposit:$100
Your capital is at risk
Your capital is at riskForex Brokers in Kuwait Comparison Table
| Broker | Rating | Official Site | Regulations | Min Deposit | Max Leverage | Trading Platforms | Foundation Year | Publicly Traded | Trading Desk Type | Currencies | Commodities | Indices | Stocks | Crypto | Commission on trades | Fixed spreads | offers promotions | Official Site |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4.4/5 | 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 | ||||||||||
3.2/5 | Visit Broker> 75% 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> 75% of retail CFD investors lose money | ||||||||||
4.7/5 | Visit Broker> Your capital is at risk | ASIC | $100 | 1:500 | IRESS, MT4, MT5 | 2005 | DMA, ECN | Visit Broker> Your capital is at risk | ||||||||||
2.8/5 | Visit Broker> Your capital is at risk | ASIC, BVI, CBI, FSCA | $100 | 1:30 | ActTrader, MT4, MT5, Proprietary, Zulutrade | 2006 | Dealing Desk, Market Maker | Visit Broker> Your capital is at risk |
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.