Page Summary
In this guide, we go over the best trading platforms in Mongolia. 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 Mongolia
- Interactive Brokers – Best trading platform overall
- Tradestation – Zero commission stock and ETF trading
- Swissquote – For traders who are looking for high quality research
- XTB – Ideal for users looking to trade forex and CFDs
- Capital.com – Best in research and education
Best Online Trading Platforms Mongolia
| PLATFORM | SCORE | GENERAL INFO | MINIMUM DEPOSIT | |
| #1 | Interactive Brokers | 4.9 | Best trading platform Overall | $0 |
| #2 | Tradestation | 3.7 | Zero commission stock and ETF trading | $2000 |
| #3 | Swissquote | 4 | For traders who are looking for high quality research | $1000 |
| #4 | XTB | 4.5 | Ideal for users looking to trade forex and CFDs | $250 |
| #5 | Capital.com | 4.7 | Best in research and education | $20 |
Below section breaks down the best trading platforms in Mongolia beginning with the highest rated…
1. Interactive Brokers – Best Platform Overall
Min Deposit: 0 ($2000 for margin account)
Fees: 4.9
Assets available: 4.9
Total Fees:
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.
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).
Pros
- Best market coverage in the industry (100k+ assets on different instruments)
- Access to 16,500 shares and 8,000 stocks as CFDs
- Professional trading platform suitable for different types of traders
- Intuitive and easy to use mobile trading app
- Industry leading fee structure
- Compatible features for casual and professional traders
- Responsive customer support
Cons
- Few deposit and withdrawal options
- Research and education materials missing
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
2. TradeStation – Zero commission stock and ETF trading
Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.
Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO). Minimum deposit is $2000 and there are no monthly charges.
Pros
- Great choice of trading instruments offered
- Great mobile trading platform
- Very professional trading platform
Cons
- Research and education section could be better
Key features
- Access to over 20,000 stocks, ETFs, options, futures, mutual funds, bonds, and other financial instruments.
- Early-access to newly listed securities via TradeStation’s IPO trading platform
- Broad range of research and analysis tools for advanced traders like FuturesPlus, TSCrypto, Discover, and Insights
- Fully paid stock lending and margin trading available
- Low floating spreads, commissions, and other trading fees
- Perfect for both beginner and advanced traders
3. Swissquote – For traders who are looking for high quality research
Min Deposit: 0
Fees: 3.0
Assets available: 4.9
Total Fees:
84.5% of retail investor accounts lose money when trading CFDs with this provider.
Swissquote is a low risk forex and CFD online broker, regulated by 4 top-tier financial regulators. It is a great choice for traders who are looking for high quality research, daily market updates, a great variety of tradable assets and account security on a Swiss bank.
Their Advance Trader proprietary trading platform suite is available as desktop, web and mobile version. Together with the MetaTrader platform suite, it delivers an excellent trading experience for traders and investors at all levels. Minimum deposit is $1000 and trading fees are above industry average. Swissquote operates a bank.
Choose Swissquote if you are looking to trade physical cryptos with a highly trusted online broker that also offers great banking services.
Pros
- Great choice of trading instruments offered
- Very good research and education
- Great For Mobile Trading
Cons
- Few deposit and withdrawal option
Key features
- Access to over 3,000,000 financial instruments
- Cash dividends paid out monthly into your account
- Trade with a FINMA-regulated and Swiss stock exchange-listed broker (SIX:SQN)
- Receive the Swissquote magazine monthly for free
- Set up your own algorithmic trading bot with Swissquote Robo-Advisory services
- Low, fixed fees capped at 0,75% of your invested amount
4. XTB – Ideal for users looking to trade forex and CFDs
Min Deposit: $0
Fees: 3.7
Assets available: 2.9
Total Fees:
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.
Pros
- Low trading fees
- Multilingual support (Available in Arabic)
- Cashback rebates and free paper trading account
Cons
- Only CFD trading
- Charges inactivity fees
Key features
- Access to 2,100+ of CFDs on stocks, indices, and commodities and 48 FX pairs
- Commission-less Stock and ETF CFD trading
- Daily market analysis videos, price tables, and economic calendar
- Micro-lot trading available
- Beginner-friendly mobile app (xStation Mobile)
- Multi-lingual support in English, Arabic and over 10 other languages
5. Capital.com – Best For Research and Education (Discount Broker)
Min Deposit: $20
Fees: 4.8
Assets available: 4.7
Total Fees:
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.
Pros
- Newsroom grade educational videos and analysis
- Award winning education and research section
- New age mobile trading app
- Real time market updates and price alerts
- Hedging and risk management tools
Cons
- MT4 and MT5 not available
- Market access is industry average
Key features
- Access to 6.000 tradable symbols and 477 cryptocurrency CFDs
- High quality research and educational content
- Patented AI trade bias system
- $20 minimum deposit
- No inactivity fees
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Mongolia 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 Mongolia 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. Mongolia 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 Mongolia
Online trading in Mongolia is available through the Mongolian Stock Exchange (MSE). This is the only stock exchange in the country and it is based in Ulaanbaatar. It is government-owned and list over 218 Mongolian companies. If citizens from Mongolia want to trade or invest in international stocks, commodities, cryptocurrencies, or other financial instruments they will have to use a foreign broker, trading platform, or cryptocurrency exchange. It is legal for Mongolian citizens to have accounts with international brokers and use their services to invest in the financial markets.
Online Trading Regulation
The Financial Regulatory Commission of Mongolia (FRC) regulates the non-banking finance industry of the country and reports directly to the Mongolian Parliament. For this reason, every company that wants to offer trading and investment services in Mongolia will have to apply for a license with them. Overseas brokers, trading platforms, and cryptocurrency exchanges don’t need such a license. At the moment there is no legal framework in place for cryptocurrency trading.
Licence Verification
You can verify the validity of Mongolian-based broker licenses by going to the official website of the Financial Regulatory Commission of Mongolia and searching the ‘Capital Markets’ database for their name. If the broker has a license, all company details will show up. If nothing comes up, you might be dealing with an unregulated broker or trading platform. We recommend only trading with regulated brokers, trading platforms, and cryptocurrency exchanges like the ones mentioned in this guide.
Conclusion
IBKR, Tradestation, Swissquote, XTB, Capital.com
Based on our review, we consider Interactive Brokers as the best trading platform for Mongolian residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
Tradestation is the second best trading platform for Mongolian residents, because of their low fees, advanced trading tools, copy trading features and a responsive customer support. Suissquote, XTB and Capital.com are finishing up our list of top platforms with a great overall offer and above average ratings.
FAQ
Are There Commission-Free Trading Platforms In Mongolia?
Yes, there are trading platforms available in Mongolia that offer 0% commission trading.
How Much Should I Invest When Trading Online in Mongolia?
You should always invest at least the minimum deposit amount Mongolia and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Mongolia?
Yes, crypto trading is available to Mongolia 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 or trading platform has a valid license by checking the ‘Registered Entities’ databases on the official websites of regulatory bodies like the CySEC, FINRA, ASIC, BaFin, or FCA. For Mongolia-based brokers, you can check the website of the Financial Regulatory Commission of Mongolia instead.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.