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Best Forex Brokers in Qatar 2021

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If you are looking for a good forex broker is Qatar, you probably have your work cut out for you. FXEmpire are here to do all the legwork for you. In this article you will a list of the best and most reliable forex brokers for Qatar.

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

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BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotions
FP Markets
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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

1:500 (ASIC), 1:500 (CySEC)

MT4, MT5, IRESS, WebTrader

2005

DMA, ECN, No dealing desk, STP

Exinity
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Exinity ME Ltd, a Company limited by shares that is formed and registered under the Laws of the Abu Dhabi Global Market (“ADGM”) under license number 200015, authorized and regulated by the Financial Services Regulatory Authority (“FSRA”). The Company Registration Number is 000004692, with registered offices at 16-104, 16 Floor, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE. Exinity ME Ltd is a duly licensed Category 3A Firm authorized to provide financial products and services to persons who meet the qualifying criteria of a Professional Client as defined in the FSRA Financial Services License. The proposed financial services and/or the provided marketing material, promoted products, or communicated information is only available to Professional Clients and should not be distributed to Retail Clients or potential Retail Clients (as defined under the FSRA rules)

FSC

$20

1:3500 (FSC)

MT4, MT5, Proprietary

2021

ECN

Plus500
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72% of retail CFD accounts lose money.

FCA, ASIC, CySEC, FSB, ISA, MAS

$100

1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (FSB), 1:30 (ISA), 1:30 (MAS)

Plus500

2008

No dealing desk

FXTM
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82% of retail CFD accounts lose money

FCA, CySEC, FSC

$10

1:30 (FCA), 1:30 (CySEC), 1:30 (FSC)

MT4, MT5

2011

No dealing desk

eToro
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67% of retail CFD investors lose money

FCA, ASIC, CySEC, MiFID

$200

1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:30 (MiFID)

eToro Platform

2007

Market Maker, No dealing desk, STP

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.

Best Forex Brokers for trading in Qatar


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

FP Markets

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Australia

Min Deposit:$100

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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.

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

FP Markets also offers a range of education and market analysis resources through the Traders Hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

Exinity

Exinity

Regulated By:FSC

Foundation Year:2021

Headquarters:United Arab Emirates

Min Deposit:$20

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Exinity ME Ltd, a Company limited by shares that is formed and registered under the Laws of the Abu Dhabi Global Market (“ADGM”) under license number 200015, authorized and regulated by the Financial Services Regulatory Authority (“FSRA”). The Company Registration Number is 000004692, with registered offices at 16-104, 16 Floor, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE. Exinity ME Ltd is a duly licensed Category 3A Firm authorized to provide financial products and services to persons who meet the qualifying criteria of a Professional Client as defined in the FSRA Financial Services License. The proposed financial services and/or the provided marketing material, promoted products, or communicated information is only available to Professional Clients and should not be distributed to Retail Clients or potential Retail Clients (as defined under the FSRA rules)

Exinity is a Forex and CFD broker founded in 2021. It is authorised and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius and the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).

The broker offers clients the ability to trade on more than 10,000+ financial instruments covering Forex, Stock Indices, Currency Indices, Share Baskets, Commodities and Shares (CFDs and Non-CFDs), all through the broker’s Exinity World mobile app and the MetaTrader 4 and MetaTrader 5 trading platforms for PC and Mobile.

Pros: Cons:
  • Commission-free trading is available with competitive spreads.
  • 10,000+ financial instruments.
  • Good customer support and availability.
  • MetaTrader 4 and MetaTrader 5 available.
  • Limited education material.

Plus500

Plus500

Regulated By:FCA, ASIC, CySEC, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Israel

Min Deposit:$100

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72% of retail CFD accounts lose money.

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK. 

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors
  • No phone support offered

FXTM

FXTM

Regulated By:FCA, CySEC, FSC

Foundation Year:2011

Headquarters:Cyprus

Min Deposit:$10

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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. 

 Pros:  Cons:
  • Support for 250+ products to trade across global markets, including Forex, commodities, shares, indices and cryptocurrency CFDs
  • Competitive spreads
  • MetaTrader 4 and MetaTrader 5 platform support
  • Low maximum order size
  • No native Mac desktop app

eToro

eToro

Regulated By:FCA, ASIC, CySEC, MiFID

Foundation Year:2007

Headquarters:Cyprus

Min Deposit:$200

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67% of retail CFD investors lose money

eToro is another awesome platform for beginners. A standout feature here is the ability to view and copy other trader’s strategies. Dropping into a new platform for the first time can be intimidating. Etoro takes away some of that fear factor by showing you what other traders are doing that works.

The platform is intuitive and the site offers some useful education and news resources for new traders as well. But if you are truly a “noob” in foreign exchange, looking at real examples in a live setting can teach you what’s going on much faster than piecing it together on your own.

Pros: Cons:
  • 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
  • Spreads are higher than average
  • Does not have the MetaTrader platform

General Regulation & Qatar Regulation

Qatar is a gulf country in the Middle East that has a relatively wealthy population. Therefore, there is a teeming population ready to invest some of their money. Forex trading is however, not regulated in Qatar. Two issues confront forex traders in Qatar:

  • Whether or not forex conforms to Sharia principles of investment.
  • Absence of local regulated brokerage firms.

However, these issues have not deterred Qatari forex traders, many of whom have decided to take the plunge by trading with offshore forex brokers based in Asia or with locally-based Introducing Broker agents of foreign brokerages.

The local currency, the Qatari Riyal, is maintained at a fixed peg by the Qatari Central bank. Qatari forex traders usually fund their accounts using the Riyal, exchanging it for US Dollars directly with the local introducing brokerages who represent foreign firms, or buying foreign currency for trading purposes from designated exchange banks. At the moment, the economic sanctions imposed by countries led by Saudi Arabia have made foreign currency transfers difficult and created some difficulty in funding and withdrawing offshore forex trading accounts.

Trading Platform & Software

The trading platform that will be encountered will depend on the broker. Brands covered include the MT4/MT5, NinjaTrader, JForex, ActTrader, cTrader ECN platforms, etc.

Commissions & Spreads

Qatar forex brokers charge commissions on CFD trading, but only charge spreads on regular currency pairs. The spread typically starts at 0.5 pips for the most liquid currency pairs. There is no information on the spreads charged by the few banks that offer spot forex and forex forward investment services to high net-worth clients.

Account Types

A few of the Qatar forex brokers will offer account types that reflect the various needs and status of their clientele. Accounts are usually of the following types, even though the nomenclature differs from one broker to another:

  1. Starter accounts (also known as Mini or Bronze accounts)
  2. Gold account
  3. Premium/VIP/Executive accounts

Customer Service

The customer service of forex brokers servicing the Qatari market provide English and Arabic language services to customers. Efficiency in customer service helps bridge the divide between traders and brokers.

Additional Services

The commonest additional service provided by Qatar forex brokers is access to forex VPS services. The banks involved in retail forex brokerage also offer trading in other types of forex contracts such as FX swaps and FX futures.

FAQ’s

Yes, forex trading is legal in Qatar.

  • Does Qatar regulate forex trading?

Qatar does not regulate forex trading meaning someone based out of Qatar can trade with any broker they like.

  • Can Qatar forex traders trade with brokers in other EU countries?

Yes, there are no restrictions on forex trading and this opens the door for Qatari forex traders to trade with offshore brokers.

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

Conclusion

Presently, the impasse between Qatar and the Saudi-led Gulf state coalition has made it very difficult for local traders who trade with offshore brokers to source foreign exchange to be able to fund their forex accounts. We have a list of brokers with local agents who can assist Qatari forex traders bypass this hurdle and continue to trade like before.

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