With increased online access, Omani citizens are gradually turning to the global forex market to trade. And even though forex trading is legal in the country, there are still no brokers with branches serving this market in the country. This however does not pose a problem since residents of Oman are accepted as customers by most brokerage firms.
Here at Business24-7.ae, we are proud to be the best broker comparison site for residents of Oman and the rest of the Middle East. To maintain our status as market leader, we conduct periodic assessments of the forex brokers that our customers are likely to find online. The Business24-7 testing methodology includes 272 different criteria, making it among the most detailed assessments available on the market.
Which Are the Top Forex Brokers for Oman in 2021?
Keen to assist our Omani readers, we have dug a little deeper than normal to provide as much detail as possible. Our years of research on brokerages around the world served as the foundation for our analysis of Oman. To ensure that our data was as up to date as possible, we repeated our analysis immediately before publishing these results. This involved significant time being spent by our team of analysists on checks and comparisons between each broker available to Omani residents.
So, without further ado, here is our list of the top forex brokers available to residents of Oman:
- eToro – Best overall offer
- Pepperstone – Low trading fees
- Swissquote – Best UX
- Saxo Bank – Best for CFD trading
- XM – Best for Forex trading
- XTB – Best for beginners
Best Forex Brokers in Oman 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||4.4/5||Best for low fees||Official website|
|#3||Swissquote||Best UX||4.8/5||Best banking services||Official website|
|#4||Saxo Bank||Best for CFD trading||4.8/5||Low fees||Official website|
|#5||XM||Best for forex trading||4.7/5||Forex trading||Official website|
|#6||XTB||Best for beginners||4.5/5||Best for beginners||Official website|
Our TOP 6 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. Swissquote – Best UX
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.
04. Saxo Bank – Best For CFD Trading
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.
05. XM – Best For Forex
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
06. 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
The Omani financial market is overseen by the Omani Capital Market Authority (CMA) and the Central Bank of Oman. The CMA was formed on 9 January 1999 for the purpose of setting and policing financial rules and regulations and developing the capital markets. More information is available on their website. The Central Bank of Oman has a good online resource too. However, even though a strong level of oversight is place, it is still possibly to fall prey to a scam. It is therefore vital to independently investigate any brokerage before signing up, and that you fully read and understand any terms and conditions you sign up to.
Which Forex Broker Is Best for Oman Residents?
If you would like to dive even deeper, why not take advantage of our forex broker tool to see the situation with the Omani forex market in more detail? You’ll see that our brokers are ranked in line with our revised methodology, which has been carefully built over years of meticulous research from our team of analysts.
Learn more about forex
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 Which Are the Top Forex Brokers for Oman in 2021?
- 2 Our TOP 6 Forex Brokers in Overview: