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 in Oman in 2020?
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:
- Swissquote – Best banking services
- Saxo Bank – Best VIP client experience
- Interactive Brokers – Best for professionals
- FxPro – 4.0 Stars
- eToro – Best overall offer
- XM Group – 4.0 Stars
- XTB – 3.5 Stars
- Pepperstone – 3.5 Stars
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 - 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.
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.
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.
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.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 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.
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.
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
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We took the time to analyze and compare the top 30 international trading platforms in 2020. 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.
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.
- 1 Which Are the Top Forex Brokers in Oman in 2020?
- 2 Which Forex Broker Is Best for Oman Residents?