In this guide, we go over the best trading platforms in Azerbaijan. We have analysed 174 brokers and evaluated their platforms in 8 major categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education, customer support and islamic account options.
Trading platforms that reached the highest scoring are considered in the following list:
Top 5 Trading Platforms in Azerbaijan
- Interactive Brokers – Best trading platform overall
- eToro – Best for Social and Copy Trading
- Capital.com – Best in research and education
- Saxo Bank – Best for Advanced Traders
- XTB – Ideal for users looking to trade forex and CFDs
Best Online Trading Platforms Azerbaijan
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||Interactive Brokers||4.9||Best trading platform Overall||$0|
|#2||eToro||4.9||Best For Copy Traders||$200|
|#3||Capital.com||4.7||Best Broker for Algorithmic Traders||$0|
|#4||Saxo Bank||4.9||Best For High Volume Traders||$10.000|
|#5||XTB||4.5||Ideal for users looking to trade forex and CFDs||$250|
Below section breaks down the best trading platforms in Azerbaijan, beginning with the highest rated…
01. Interactive Brokers: Best Platform Overall
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
02. eToro: Best Broker For Social Trading
eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.
As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.
eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
03. Capital.com: Best For Research and Education (Discount Broker)
Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.
Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.
Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
04. Saxo Bank: Best For High Volume Traders and Investors
Saxo Bank is a reputable global brand known for its complete overall offer and exclusive conditions for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.
If you can afford the minimum deposit of $10.000, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers and a diverse portfolio of investment options.
Investors who are looking to trade in accordance with Sharia Law can open an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local office with guaranteed satisfying answers.
05. XTB: Ideal for users looking to trade forex and CFDs
XTB is a trusted online broker ideal for users looking to trade forex and CFDs on a great performing proprietary platform (xStation 5). Traders like the minimalist design, extensive selections of features, powerful trading tools and great order execution. As a multi-asset broker, XTB offers a vast selection of tradable instruments spread across all markets. They provide CFDs on stocks, commodities, ETFs, cryptos, Indices and forex currency pairs. XTB pricing is industry average across all accounts.
Beginner traders will like the outstanding customer support, excellent research + education section and the easy to use proprietary platform. With an overall great offer, it should be considered by any trader looking to trade forex and CFDs.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Azerbaijan include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Fees: Choose a broker with a transparent fee structure and avoid brokerage accounts with high fees on trades, overnight fees and hidden fees. Commission and spread fees are common with Azerbaijan brokerage accounts. Spreads should vary between 0.03% to 0.5% depending on your trading volume.
Trading platforms: They should be user friendly, grant access to trading tools and indicators and suitable to traders at all levels. We recommend you opt for a platform with a technical charting interface and built-in market data. A comprehensive market news feed and access to advanced features are a must.
Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions. Choose mobile platforms with full-screen charting options and social feeds.
Deposit & Withdrawal: Deposit and withdrawal needs to be fast and simple. Choose an broker that offers your preferred payment method and industry leading commission and fee structures.
Assets: Look for coverage of preferred assets. Azerbaijan traders are allowed to access all tradable asset classes including forex, stocks, indexes, options, FOPs, commodities, futures, indices, bonds, swaps, mutual funds, hedge funds, spot gold, ETFs and cryptos.
Regulation: Brokers with top-tier licenses follow strict rules enforced by a trustworthy regulators and offer high security standards. We recommend users to choose platforms with FCA, CySEC, and ASIC licenses and tier one regulations.
Research & education: Beginner and average traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.
Customer support: Beginner traders should look out for responsive and professional customer support available in their language.
*Islamic Accounts: All platforms from our list offer islamic account options. This gives users the chance to trade online in compliance to the Sharia law.
Online Trading In Azerbaijan
All stock and bond trading in Azerbaijan is done through the Baku Stock Market, which is regulated by The Central Bank of the Republic of Azerbaijan. The Baku Stock Market monitors the market infrastructure of the country. The Azerbaijani foreign exchange markets are flexible. Users can swap currencies at the right price.
Cryptocurrency trading is still unregulated. This means cryptocurrencies don’t have their own legal framework, and that the Central Bank of Azerbaijan cannot guarantee the safety of investors’ funds. Azerbaijani traders and investors are allowed to trade at both Azerbaijani brokerage firms and brokers and exchanges based elsewhere.
The Belarusian Universal Commodity Exchange (BUCE) is currently attracting local businesses to commodity exchange trading. The BUCE also wants foreign investors to take part, to increase the exchange of commodities between Azerbaijan and other countries.
Online Trading Regulation
Online trading is regulated by The Central Bank of the Republic of Azerbaijan. This means that any Azerbaijani company that wants to offer trading and investment services has to have a valid license. These licenses are issued by the ministry of economy of Azerbaijan through ASAN service centers. They can be issued to both Azerbaijan and foreign companies.
You can verify the validity of the license from an Azerbaijani broker by searching their license number in the government’s e-service center. If an international broker isn’t based in Azerbaijan, we recommend checking if they are licensed by regulatory bodies like the FCA, ASIC, FINRA, CYSEC, or BaFIN. All our recommended brokers are licensed by top-tier 1 regulators.
Based on our review, we consider Interactive Brokers as the best trading platform for Azerbaijani residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
eToro is the second best trading platform for Azerbaijan residents, because of their low fees, advanced trading tools, copy trading features and a responsive customer support. Capital.com, Saxo Bank and XTB are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Azerbaijan?
Yes, there are trading platforms available in Azerbaijan that offer 0% commission trading like eToro.
How Much Should I Invest When Trading Online in Azerbaijan?
You should always invest at least the minimum deposit amount Azerbaijan and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Azerbaijan?
Yes, crypto trading is available to Azerbaijani citizens. The leading trading platforms offer Bitcoin trading via CFDs.
How To Check If A Trading Platform Has a Valid License?
You can check if a broker has a valid operating license on the ASAN service center’s official website.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were 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 brokers 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.
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 then also read:
- Saudi Arabia
- 1 Top 5 Trading Platforms in Azerbaijan
- 2 Best Online Trading Platforms Azerbaijan
- 2.1 01. Interactive Brokers: Best Platform Overall
- 2.2 02. eToro: Best Broker For Social Trading
- 2.3 03. Capital.com: Best For Research and Education (Discount Broker)
- 2.4 04. Saxo Bank: Best For High Volume Traders and Investors
- 2.5 05. XTB: Ideal for users looking to trade forex and CFDs
- 2.6 How To Pick The Right Platform?
- 2.7 Online Trading In Azerbaijan
- 2.8 Online Trading Regulation
- 2.9 Licence Verification
- 3 Conclusion