Best Forex Brokers in Kuwait 2019

FX Empire Editorial Board
Last Update:
At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make 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.
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

FBS

Regulated By:

CySEC, IFSC

Foundation Year
2009
Headquarters:

N/A

Min Deposit
$1
Visit Broker

Your capital is at risk

eToro

Regulated By:

ASIC, CySEC, FCA

Foundation Year
2007
Headquarters:

N/A

Min Deposit
$200
Visit Broker

76% of retail investor accounts lose money

ATFX

Regulated By:

FCA

Foundation Year
2014
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your Capital is at Risk

FP Markets

Regulated By:

ASIC

Foundation Year
2005
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your capital is at risk

AvaTrade

Regulated By:

ASIC, BVI, FSA(JP), FSB

Foundation Year
2006
Headquarters:

N/A

Min Deposit
$100
Visit Broker

Your capital is at risk

Forex Brokers in Kuwait Comparison Table

Scroll for more details
Broker
Rating
Regulations
Headquarters Country
Foundation Year
Min Deposit
Max Leverage
Trading Platforms
Publicly Traded
Restricted Countries
Trading Desk Type
Currencies
Commodities
Indices
Stocks
Cryptocurrency
ETFs
Bonds
Futures
Options
Mutual funds
Deposit
Withdrawal
Commission on trades
Fixed spreads
OS Compatibility
Mobile trading
promotions
Visit Broker
CySEC, IFSC

Russian Federation

2009

$1

1:3000

MT4, MT5

No

Russian Federation, United States

ECN, No dealing desk, STP

Yes

No

No

No

Yes

No

No

No

No

No

Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer

Cash-U, Credit Card, Moneybookers, Neteller, PerfectMoney, QIWI, Skrill, Wire Transfer

No

Yes

N/A

N/A

No
Open Account

Your capital is at risk

ASIC, CySEC, FCA

Cyprus

2007

$200

1:30

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, ZuluTrade

No

Canada, Indonesia, Iran, Isle of Man, Israel, Jamaica, Japan, Niger, North Korea, Sweden, Syria, Trinidad and Tobago, Turkey, United States

Market Maker, No dealing desk, STP

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer

Credit Card, Moneybookers, Neteller, PayPal, Skrill, Webmoney, Wire Transfer

Yes

No

N/A

N/A

No
Open Account

76% of retail investor accounts lose money

FCA

United Kingdom

2014

$100

1:200

MT4

No

Bosnia and Herzegovina, Canada, Cuba, Ethiopia, Iran, Iraq, Japan, Mexico, North Korea, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Turkey, United States, Vanuatu, Yemen

No dealing desk, STP

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Credit Card, Neteller, Skrill, Wire Transfer

Credit Card, Neteller, Skrill, Wire Transfer

Yes

No

N/A

N/A

No
Open Account

Your Capital is at Risk

ASIC

Australia

2005

$100

1:500

MT5

No

Japan, New Zealand, Niger, North Korea, United States

DMA, ECN

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

No

Cash-U, Credit Card, Neteller, PayPal, QIWI, Skrill, Webmoney, Wire Transfer

Credit Card, FasaPay, Neteller, PayPal, Skrill, Wire Transfer

No

No

N/A

N/A

No
Open Account

Your capital is at risk

ASIC, BVI, FSA(JP), FSB

Ireland

2006

$100

1:400

ActTrader, MT4

No

United States

Market Maker

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer

Credit Card, Moneybookers, Neteller, PayPal, Union Pay, Webmoney, Wire Transfer

No

Yes

N/A

N/A

No
Open Account

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:

  1. 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.
  2. 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.