Here at Business24-7, we are proud to be known as the leading forex broker comparison site in North Africa. Otherwise known as the Kingdom of the West, there can be little doubt of the importance that Morocco plays in the region. If you are based in Morocco and would like to learn more about the top forex brokers available to you in 2021, we hope our detailed review will help you make the right decision.
As with all our country reviews, our team of analysts spent two months just prior to the publication of these results carrying out more detailed checks and comparisons between all eligible brokers. In this way, we are able to provide the most up-to-date and relevant data and conclusions possible. And so, without further ado, we are ready to reveal the results of our analysis. Here are the rankings for the forex brokers available to Moroccan residents.
This are Our Top 5 Forex Brokers of 2021 for Maroccan citizens:
- IQ Option is the number one online broker in 2021. Best for options trading, easy to use trading platform and lots of trading assets.
- AVAtrade is the best trading platform overall, not showing any weakness. Great for beginners and professional traders.
- XM is the best trading platform for forex tradin. It offers lots of different trading pairs and analysis tools. Great mobile trading platform.
- Pepperstone ranks number four. Sophisticated trading platform with low trading fees. Great tools for beginner traders.
- Interactive Brokers made it to our list of the top five brokers. Advanced educational and research tools. Low trading fees.
Best Forex Brokers in Marocco 2021
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||IQ Option||Best overall offer||4.9/5||Options, stocks, forex and crypto||Official website|
|#2||AVAtrade||Best web trading platform||4.9||Low spreads||Official website|
|#3||XM||Best for forex trading||4.9||Forex trading||Official website|
|#4||Pepperstone||Lowest trading fees||4.8/5||Low fees||Official website|
|#5||Interactive Brokers||Best overall offer||4.8/5||Low fees||Official website|
Our TOP 5 Forex Brokers in Overview:
01. IQ Option: Best For Binary Options
With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks, binary options, cryptocurrencies etc.
In our review we defined the trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate.
IQ Option index brand has been recently updated to make sure the UAE clients get the same advanced tools and platforms, internationally available to other customers. They provide an improved in-house advantage platform different from the most known Metatrader 4/5 platform.
02. AVA Trade: Best Web Trading Platform
For a start, Avatrade boasts some pretty impressive business statistics, facilitating over two million transactions every month, with total values regularly exceeding $60 billion in value. These transactions aren’t only limited to forex trading, but extends to other financial instruments such as digital currency, bonds, different binary options and CFDs.
The huge volume of transactions Avatrade deals with are facilitated by an international team that is spread out globally in key financial centers such as Shanghai and Tokyo in Asia, Milan and Paris in Europe and Nigeria and South Africa in Africa. As a multinational broker, Avatrade offers multilingual services backed by a support team that works round the clock five days a week. You can read more about it in our review.
03. XM Trade: Best for forex trading
XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.
XM is chosen by many traders because their website is available in Arabic, and include excessive market information and educational content. They provide quality customer service, that includes a Dubai-based telephone line and Arabic email support. More details in our review.
They also offer some of the most powerful trading tools and many device apps, along with MetaTrader 4.
04. Pepperstone: Lowest Trading Fees
Based in Melbourne, Pepperstone Group has added customer-facing features at an extremely rapid pace, causing the broker to increase the number of active accounts at an equally surprising rate.
With multiple layers of security, no dealing desk, and AUD 100 minimum opening deposit on new accounts, new traders find Pepperstone Group an attractive option. Additionally, there are many support paths, including 24/5 phone and chat support, an FAQ section with comprehensive answers and clearly stated policies regarding trade disputes, deposits, and withdrawals.
05. Interactive Brokers: Best Overall Offer
Interactive Brokers gives traders access to 135 global markets in 33 countries. Professional traders take full advantage of industry-leading low commissions and low margin rates across all balance tiers. They provide a winning platform solution for Day, Mobile, Options, and Futures traders.
They offer 68 different order types giving traders of all levels access to global investment options including stocks, options, futures, and bonds in 31 currencies.
Casual and novice investors benefit from their website and platform fundamental research and education offerings.
Moroccan Financial System
Morocco’s financial system is well developed by African standards, but the high cost of credit, delayed regulatory oversight, and slow government bureaucracy continue to pose problems. Although foreign investment is welcome, certain restrictions remain, especially where state-run monopolies are in place. Nevertheless, Morocco’s economy is ranked 5th in Africa in terms of GDP and the number of forex traders in Morocco is rising rapidly. And with all of the top forex brokers available to Morocco’s financially savvy population, they are vying to connect with a market full of potential.
Financial Markets in Morocco
The Foreign Exchange Office, otherwise known as the Office des Changes, falls under the remit of the Ministry of Finance and regulates the financial markets in Morocco. Established in 1944 and restructured pursuant to the Dahir of 22 January 1958, its focus is on regulating and overseeing all foreign exchange transactions and publishing all national statistics related to foreign trade. It is joined in governing the Moroccan financial sector by the Moroccan central bank – Bank Al-Maghrib.
Forex Regulation in Morocco
Although it is legal to trade forex in Morocco, it remains unregulated. In cases such as this, most traders in the country sign up with an overseas brokerage that is licensed under a well-respected jurisdiction. These include but are not limited to the FCA (UK), ASIC (Australia) and CySEC (Cyprus). Several brokers also now provide support in French and Arabic, including web pages and customer service, plus Shariah-compliant swap free services.
Top Forex Brokers Available to Moroccan Residents
Our aim is to help Moroccan residents make sense of the forex broker world. To achieve this goal, we publish annual reviews of the leading brokers available. Every year, the depth and breadth of the data provided on the brokers we review is enhanced, and this year is no exception. This process helps us to improve the precision and accuracy of our scoring, allowing us to better differentiate between the growing number of brokers available to traders in Morocco. To learn more about our evaluation process, please click here.
We took the time to analyze and compare the top 30 international trading platforms in 2021. So, each firm received its review based on 105 distinct variables and more than 50,000 words of research.
Keep in mind that broker involvement was optional. Each broker had the option to provide a detailed profile and offer adequate time for a yearly update meeting. This opportunity came with two possibilities: giving information over the web or live in person.
We checked all the information provided by brokers with a lot of attention to details. Our purpose was to offer you access to reliable, accurate, and well-researched data. Our validation process comes with less than a 1% error rate per year, as all the reviews we share come with a focus on quality and not quantity.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
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- 1 This are Our Top 5 Forex Brokers of 2021 for Maroccan citizens:
- 2 Our TOP 5 Forex Brokers in Overview:
- 2.1 01. IQ Option: Best For Binary Options
- 2.2 02. AVA Trade: Best Web Trading Platform
- 2.3 03. XM Trade: Best for forex trading
- 2.4 04. Pepperstone: Lowest Trading Fees
- 2.5 05. Interactive Brokers: Best Overall Offer
- 2.6 Moroccan Financial System
- 2.7 Financial Markets in Morocco
- 2.8 Forex Regulation in Morocco
- 2.9 Top Forex Brokers Available to Moroccan Residents