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Best Forex Brokers in Qatar

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Here at Business24-7.ae, we have spent years building up our research base to become the leading broker comparison site for forex traders in Qatar. Every year, we carry out periodic assessments of the forex brokers in the country and have now become the first port of call for traders of all abilities in each market we cover.

Which Are the Best Forex Brokers Available to Qatar Residents?

It is our job to help forex trade in Qatar choose the right broker for them. To achieve our goal, we have analysed each broker available to traders in Qatar, using a variety of criteria. These include Sharia compliance, ease of using the trading platform, fee schedules, safety and security, deposits and withdrawals, the account opening process, education and learning tools, customer service, research standards, regulatory compliance, product portfolio, and the standard of information available.

Although we have long known that every forex broker with an international presence happily accepts traders based in Qatar, we wanted to make sure our country data was completely up to date before producing our final ranking. To this end, our team of researchers have spent the last 2 months conducting tests on features and services available to forex traders in Qatar.

Here are the 8 best forex brokers for Qatar residents:

  • eToro – Best overall offer
  • Swissquote – Best banking services
  • Saxo Bank – Best VIP client experience
  • Interactive Brokers – Best for professionals
  • FxPro – 4.0 Stars
  • XM Group – 4.0 Stars
  • XTB – 3.5 Stars
  • Pepperstone – 3.5 Stars
etoro-logo

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.

In our review eToro has been awarded as the best social trading platform - social trading means you can follow other traders and copy their investment strategies.

client-swissquote-landscape-image-2019-jul-12

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.

From the results in our review, we would recommend this platform to users looking for fast deposit and withdrawal + great research tools.

Saxo-bank-logo

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.

In our review we also liked the incredible pricing on the platform and the exclusive SaxoTraderGO flagship platform. You will get everything you need to perform well in the market.

Interactive-Brokers-logo

Interactive Brokers - Best For Professionals

In our 2020 review, Interactive Brokers has ranked second overall because of its vast array of tools for advanced investors that track global investing trends.

The firm can connect to any global electronic exchange, which means trading futures, equities, and options around the world is easy and straightforward, whether from your mobile device or your desktop.

Even though Interactive Brokers is an excellent advisory, new investors may find its extensive capabilities to be overwhelming and distracting, and we recommend that they start trading somewhere else.

fxpro-review-1

FxPro

Founded in 2006, FXPro operates in the United Kingdom and is in the spread betting and CFD market. In 2017, Global Brands Magazine voted FXPro as the most trusted Forex brand in the UK.

FXPro has more than 870,000 clients in 173 countries. The DFSA, FSCA, SBC, FCA, and the CySEC all participate in the regulation of FXPro.

  • Easy-to-understand pricing
  • News in Realtime
  • Large product offering
XM-logo

XM Trade

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.

xtb-trading

XTB Trading

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.

pepperstone-logo

Pepperstone

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.

TRADING PLATFORM

BENEFITS

ASSETS

PLATFORMS

FUNDING 

ISLAMIC 

BONUS

 DEPOSIT

avatrade-logo

- Dublin based forex broker
- Highly regulated and safe
- Multilingual support
- Lots of financial instruments
- 2Million transaction/month

- Forex
- Indices
- Stocks
- Cryptocurrencies
- Commodities
- ETF's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers
- Skrill

YES!

40%

$100

XM-logo

Quality platform:
Highly regulated
Beginners friendly
Arabic/english support
- Low spreads from 0 pips
- 57 Currency pairs
- 500:1 Max leverage
- 25% bonus on first deposit

- Forex
- Indices, Energies
- Stocks/ Live Stocks
- Cryptocurrencies
- Commodities
- ETF's, Bonds
- Precious metals

+ Mobile App
+ MetaTrader 4
+ MetaTrader 5
+ WebTrader

- Credit cards/debit cards
- eWallets
- Wire transfers

YES!

a$30 - No deposit required

$5

Highly sophisticated platform:
- easy to use
- perfect for beginners
- demo account for training purposes
- lots of different financial instruments
- Great research tools

- Forex, Metals
- Oil, Commodities
- Indices, Stocks
- ETF's, Gold
- Cryptocurrencies

+ Mobile App
+ Web Trader

- Credit Card
- Wire Transfer 
- Skrill, Qiwi
- WebMoney 
- CashU

/

$10

forex.com-logo

- Global forex and CFD broker

- over 84 currency pairs and 230 CFD's

- Part of the GAIN Capital holding

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

 - Credit /debit cards
- Bank transfers

YES!

/

/

olymp-trade-logo

Solid platform:
- Allows Hedging
- Offers MT4
- Offers social trading
Offers mobile trading apps
- Allows scalping
- Accepts credit cards

- Forex
- Indices
- Stocks
- Crypto
- Commodities
- ETF's

+ Mobile App
+ Web Trader

- Credit /debit cards
- Paypal
- Bank transfers

YES!

/

$1

- Global forex and CFD broker

- Easy to use trading platform

- Powerful research tools

- Fast account opening

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers

YES!

/

/

fxcm-trading

- UK Based forex and CFD broker

- Easy to use trading platform

- Powerful research tools

- Low trading fees

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers

YES!

/

/

xtb_logo-white

- Forex and CFD broker

- Easy to use trading platform

- Good research tools

- Fast account opening

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers

YES!

/

/

pepperstone-logo

Solid platform:
- AUD 200 account minimum
- from 0.0 peep fee
- Highest quality for Australian traders

- Forex, Indices
- Stocks/Live Stocks
- Cryptocurrencies
- Commodities

+ MetaTrader 4
+ MetaTrader5
+ Webtrader

- Credit cards/debit cards
- Bank transfer

YES!

5%

$100

Qatar’s Transformation into a Forex Trading Hub

Despite Qatar enduring economic sanctions from its neighbours in the Gulf region, it is the sixth wealthiest country in the world. Once known as a relatively impoverished country and famous for its pearl diving, the last 80 years have seen the country propelled into a petroleum and natural gas giant with one of the strongest per capital incomes on planet Earth. In 2022, Qatar will be the host nation for the football World Cup, the first time this will happen in the Arab world and in a predominantly Muslim country. Qatar’s transformation has been compelling to witness.

Forex Trading Regulation in Qatar

And with a strong economy and residents with considerable disposable income, it is no surprise to hear that its residents are increasingly interested in using forex brokers. Approximately 10% of the population already trades forex, and Qatari traders are internationally renowned for their skill. However, political tensions are still simmering, and this can make life difficult for residents of Qatar when making transfers in foreign currency. Although forex trading is not illegal in Qatar, it is not regulated. Despite the existence of several financial regulatory bodies in Qatar such as the Qatar Financial Markets Authority, among others, the regulations they have imposed have little bearing on forex traders. As a result, there are 2 key issues that Qatar residents are faced with if they want to trade. The first is whether the forex broker they are considering is Sharia compliant. The second is whether the offshore brokerage they choose is regulated.

Which Forex Broker Is Best for Qatar Residents?

If you’d like to dive deeper into which forex broker is best for your specific needs, take a look at our forex broker tool. You will see that we rank each broker in line with our new and updated approach, which has been constantly refined over years of research and analysis by the Business24-7.ae team.

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Our Mission

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

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