Qatar’s best platforms in 2021 are IQ Option, eToro, Saxo Bank, AVATrade, Pepperstone, and XM. Many traders prefer social trading with eToro, while others opt for the lowest trading fees at Pepperstone. This article reviews these brokers to help you choose the best brokerage for you.
Top 6 Online Brokers for Qatar in 2021:
- IQ Option is the best binary options broker in 2021.
- eToro is the best social trading broker.
- Saxo Bank is the best broker for asset variety and research tools.
- AVAtrade is the best broker for beginner traders.
- Pepperstone is the best broker for the lowest fees in Qatar.
- XM is the best forex trading broker overall.
Best Online Brokers Qatar 2021
|RANK||BROKER||PLATFORM SCORE||BEST FOR||WEBSITE|
|#1||IQ Option||4.9/5||Options, stocks, forex and crypto||Official website|
|#2||eToro||4.9/5||Social Trading||Official website|
|#3||Saxo Bank||4.9/5||Different assets||Official website|
|#5||Pepperstone||4.7/5||Low fees||Official website|
|#6||XM||4.7/5||Forex trading||Official website|
Our TOP 6 Trading Platforms in Overview:
1. IQ Option: Best For Binary Options Trading In Qatar
IQ Option is a great online broker for options trading, know for its fast trade execution, low spreads, intuitive trading platform and great customer support.
IQ Option trading platform is intuitive and easy to use for traders at all levels. Both, mobile and desktop platform offer traders a variety of different tradable assets. These include cryptocurrencies, forex, stocks ETF’s, commodities, digital and binary options. Spreads and fees are competitive. Deposits and most withdrawal methods are free of charge. Smallest deposit is $10.
IQ Option offers excellent customer support in many different languages including Arabic. Traders from the UAE use their online trading platform without any restrictions.
2. eToro: Best For Social Trading For Qatari Residents
eToro is a safe online broker regulated by top-tier financial regulators. It is known for its multi-asset, features-rich trading platform, and advanced social copy trading features. This lets users copy trades and portfolios from other traders. Built in a forum-like way, it allows engagement between peers through a comment section.
eToro offers a range of CFDs over stocks, currencies, crypto, indices, and commodities. Trading spreads are wide, deposits are free. 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.
3. Saxo Bank: Best For Asset Variety And Research Tools
Founded in 1992, Saxo Bank is a low risk, well-regulated bank by the FCA (UK), FINMA (Switzerland), ASIC, FSC (Australia), and JFSA (Japan). They are an excellent forex and CFD broker known for their intuitive SaxoTraderGO platform, competitive pricing, and more than 40,000 trading instruments. The overall user experience is great. The opening deposit is USD 10,000 ( GBP 500 for the UK, SGD 500 for Singapore).
Saxo Bank provides a unique platform and competitive pricing. They combine high-quality in-house research with top-tier third-party providers to offer an outstanding research experience. Their customer service is outstanding. UAE citizens are offered the ability to trade in compliance with Sharia law using an Islamic account. Support is available in the Arabic language by email or directly in the local offices.
4. AVATrade: Best For Beginner Traders In Qatar
Founded in Dublin in 2006, AvaTrade offers average-to-competitive fee spreads and several tradable currency pairs and CFD’s over stocks. They provide several platforms, each aimed towards traders with different experience and skill levels.
Deposits and withdrawals are free of charge. The minimum deposit is $100. There are fees for inactivity and overnight financing. A dedicated educational and research site offers several free courses, videos, and market analysis. Customer support is responsive and available through phone, email, and live chat. AvaTrade is regulated in six jurisdictions and available since 2021 in the UAE. They are regarded as a trusted broker with a long operational history.
5. Pepperstone: Best Broker For The Lowest Trading Fees
Based in Melbourne, Pepperstone is a reliable Forex and CFD broker, known for its diversity of trading platforms, industry-leading pricing, fast account opening, and great support. Pepperstone users can trade many assets including forex, CFDs, cryptocurrencies, indexes, shares, and commodities. This broker is excellent for traders at all levels, from beginners to advanced.
Pepperstone offers MetaTrader and cTrader with multiple self-developed add-ons. They do not have a proprietary mobile platform, instead use MT4 and cTrader mobile apps. It has a low minimum deposit, great customer support, and an above-average research section, and an award-winning set of educational tools.
6. XM: Best For Forex Trading
XM.com is the best broker for forex and CFD trading. They offer the best Social Copy Trading opportunities through their full suite of MT4 and MT5 web, desktop, and mobile platforms. XM Forex tools and accounts are suitable for both beginning and experienced traders. They have more than 1.5 million clients in 196 countries.
Their minimum opening fees range from $5 to $100 based on account type. XM Forex supports clients wanting to sample their platform with a Demo account. They provide auto-trading, fast order executions, multiple order types, and no hidden commissions. Their research group Tradepedia offers courses aimed at all levels. XM Forex customer service group is highly rated with e-mail, phone, and live chat 24/5. XM Forex Global Web-trade is regulated by CySEC (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investment Commission), IFSC and is considered a safe broker for trading forex and CFDs.
IQ Option, eToro, Saxo Bank, AVATrade, Pepperstone, and XM are the best trading platforms in 2021. Each Qatari broker mentioned in our list has a high trust score and transparent fees.
All brokers included in our review have excellent offerings for Qatari residents. Before selecting a trading platform, you should read our in-depth broker reviews.
Frequently Asked Questions For Qatari Citizens
Creating a useful online broker list is all about attention to detail. We review each brokerage firm with 105 data points and we use live accounts and real money in all our tests. Our Methodology section explains everything you need to know about our ranking system.
How We Identify A Reliable Platform
We rank trading platforms according to advanced analysis and broker reliability. These top six brokers received the highest Trust Scores, and all have a 100% clean working history.
Safety Risks For Qatari Citizens
Qatari traders need to analyze safety risks before trading. Not all brokers are trustworthy, and this exposes you to scams and financial loss. Our reviews focus on brokers with top-tier licenses, helping you start from a safe position.
Remember to consider the possibility of a broker failing. Our in-depth reviews on each broker will help you understand the safety risks of trading.
What Is The Financial Regulatory Authority In Qatar?
The financial and trading sectors of Qatar fall under the regulation of:
- The Central Bank of Qatar (CBQ)
- The Qatar Financial Markets Authority (QFMA)
- The QFC Regulatory Authority (QFCRA)
Authorization and regulation by these organizations isn’t mandatory for Qatari online brokers. However, it improves the reliability and trustworthiness of Qatari trading platforms.
How Did We Choose The Top International Trading Platforms For Qatar Residents?
We analyze 105 distinct criteria before recommending trading platforms for Qatari residents. Each review uses real accounts and real money. The main criteria are:
- Fees: Fees are the largest expense you will face when trading, and each broker has different trading fees. The basic trading fee for a US equity varies as much as 500% between brokers.
- Account Creation: Some Qatari brokers request a higher initial deposit. It would be best if you read about “all-in costs” before choosing a Qatari broker.
- Withdrawal And Deposit: Some brokers have a fee for depositing money, while others charge a fee when withdrawing. We recommend you check the “all-in costs” before creating an account with any broker.
- Markets And Products: Each broker has different asset coverage. Financial product offerings vary from one brokerage firm to another. Always verify that the broker offers access to the equities you want to trade.
- Trading Platform: Every online trader needs a comprehensive trading platform. It is best to opt for a straightforward and professional trading platform.
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 provided a detailed profile and offered 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 detail. 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 Top 6 Online Brokers for Qatar in 2021:
- 2 Our TOP 6 Trading Platforms in Overview:
- 2.1 1. IQ Option: Best For Binary Options Trading In Qatar
- 2.2 2. eToro: Best For Social Trading For Qatari Residents
- 2.3 3. Saxo Bank: Best For Asset Variety And Research Tools
- 2.4 4. AVATrade: Best For Beginner Traders In Qatar
- 2.5 6. XM: Best For Forex Trading
- 2.6 Final Verdict
- 2.7 Frequently Asked Questions For Qatari Citizens
- 2.8 How We Identify A Reliable Platform
- 2.9 Safety Risks For Qatari Citizens
- 2.10 What Is The Financial Regulatory Authority In Qatar?
- 2.11 How Did We Choose The Top International Trading Platforms For Qatar Residents?