Here at Business24-7.ae, we take great pride in having established the premium broker comparison site for residents of the Gulf region. Every year, we carry out periodic analyses of the best forex brokers available to traders in this part of the world. Now, after years of painstaking research, our reputation for providing the best and most accurate information precedes us. Today we will focus our attention on Bahrain.
Which Are the Top Forex Brokers in Bahrain?
The vast majority of international brokers accept Bahraini customers. However, the CBB suggests that Bahrain residents opt for a broker which falls under the jurisdiction of the UKFCA (UK Financial Conduct Authority), the ASIC (the Australian Securities and Investment Commission) or another suitably reputable regulator.
Here at Business24-7.ae, our analysts support the guidance issued by the CBB, and so do everything our power to help Bahraini forex traders choose the right broker for them. Believing that thoroughness and detail are crucial to achieving this goal, we have compiled 272 criteria to help make our rankings as reliable as possible. Not only do we take account of Shariah-compliant platforms, we also focus on regulatory standing, fee schedules, security, the range of products and services available, ease of deposits and withdrawals, education tools, and a host of other factors.
We are also fortunate to have long-standing relationships with all of the world’s top forex brokers, which means we are kept up to date with any changes or amendments to their products and services.
This Are Our Top 7 Forex Brokers For Bahrain in 2021
- eToro – Best overall offer
- Pepperstone – Low trading fees
- Saxo Bank – Best VIP client experience
- Swissquote – Best banking services
- Interactive Brokers – Best for professionals
- XM – Best for forex trading
- XTB – Best for beginners
Best Forex Brokers in Bahrain 2021
|RANK||BROKER||GENERAL||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||eToro||Best overall offer||4.9/5||Best overall offer||Official website|
|#2||Pepperstone||Low trading fees||4.8/5||Best for beginners||Official website|
|#3||Saxo Bank||Best for CFD trading||4.8/5||Best VIP client experiance||Official website|
|#4||Swissquote||Best UX||4.7/5||Best banking services||Official website|
|#5||Interactive Brokers||Best for professionals||4.6/5||Low fees||Official website|
|#6||XM||Best for forex trading||4.6/5||Forex trading||Official website|
|#7||XTB||Best for beginners||4.5/5||Best platform for beginners||Official website|
Our TOP 7 Forex Brokers in Overview:
01. eToro: Best Overall Offer
eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.
02. Pepperstone: Low Trading Fees
Since opening its doors in 2010, Pepperstone Group has become one of the best brokerages in the Australian financial industry. They have built a full-featured trading portal with highly competitive benefits that focuses on indexes, Forex, and commodity instruments.
A wide variety of web-based, desktop, and mobile trading platforms accessible by multiple account types is attractive to novice traders. Open Demo Account
03. Saxo Bank – Best VIP client experience
If you are a trader that can afford a minimum deposit of USD 10,000 (or GBP 500 for the UK), an excellent forex broker for you is Saxo Bank. Saxo Bank stands out since it provides a unique trading platform, competitive prices, professional research, more than 40,000 trading instruments, and outstanding customer service.
04. Swissquote – Best Banking Service
Swissquote is a trustworthy and well-regulated online broker, operating with two units. Its Swiss unit offers, among others, stock, features, funds and options while the London-based unit is specialized in Forex and CFDs trading.
05. Interactive Brokers: Best For Professionals
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.
06. XM: 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.
With over 1.5 million clients in 196 countries, the XM forex global company focuses on three core principles:
Be big, Be fair, Be human. Open Demo Account
07. XTB: Best For Beginners
XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.
We would recommend this platform to users looking for fast deposit and withdrawal + great research tools. Open Demo Account
Is Forex Trading Legal in Bahrain?
The establishment of a regulated forex market in Bahrain began in July 2011. This was when the Central Bank of Bahrain (CBB) approved XO Bahrain’s application to become a licensed forex broker. A local market participant, this move represented the starting point for Bahrain’s attempts to build itself up as a financial centre to rival Dubai.
Financial Services in Bahrain
A collection of islands with a total population of just over 1.5 million inhabitants, Bahrain is home to over 400 licensed financial institutions. These include a selection of local, regional and global companies, and deal with all aspects of financial services. Generating over 27% of the country’s GDP and employing over 80% of the total working population, the financial sector is critical to the national economy.
Central Bank of Bahrain
The Central Bank of Bahrain is responsible for encouraging the Kingdom’s growth as a key international financial hub. This is in addition to its other responsibilities, which include managing Bahrain’s cash, gold, and foreign currency reserves, monitoring and regulating the banking industry, and implementing monetary policy. We recommend following the CBB’s social media channels to stay completely up to date with all forex trading developments.
Which Forex Broker Is Best for Bahrain Residents?
Take a moment to get familiar with our broker tool. It’s perfect if you’d like to compare the forex brokers available to traders living in Iraq in more detail. Each broker we assess is ranked according to our methodology, where you can find out more about our the systems and approach used by our analysts.
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.
If you liked this article than also read:
- Saudi Arabia
- 1 This Are Our Top 7 Forex Brokers For Bahrain in 2021
- 2 Our TOP 7 Forex Brokers in Overview:
- 2.1 01. eToro: Best Overall Offer
- 2.2 02. Pepperstone: Low Trading Fees
- 2.3 03. Saxo Bank – Best VIP client experience
- 2.4 04. Swissquote – Best Banking Service
- 2.5 05. Interactive Brokers: Best For Professionals
- 2.6 06. XM: Best For Forex Trading
- 2.7 07. XTB: Best For Beginners
- 2.8 Is Forex Trading Legal in Bahrain?
- 2.9 Financial Services in Bahrain
- 2.10 Central Bank of Bahrain
- 2.11 Which Forex Broker Is Best for Bahrain Residents?