We do our best to offer a thorough annual trading platform review with the help of reliable research and testing strategies. Based on our studies, categories, and weightings, we found that trading is quite popular in Qatar.
Even though it’s recommended, Qatar brokers are not obligated to get authorisation from the Securities & Exchange Commission of Qatar (SECP) to let residents trade with them. Actually Qatar does not have any regulation of forex trading. This mean that Qatar residents are allowed to trade with any broker based in Qatar and outside of Qatar.
The financial and trading sector of Qatar falls under the regulation of several regulatory bodies, the Central Bank of Qatar (CBQ), the Qatar Financial Markets Authority (QFMA), and the QFC Regulatory Authority (QFCRA).
At the end of 2019 the QFCRA started to regulated the cryptocurrency market with lots of restrictions which were all following the same idea – to battle money laundering and financing terrorism.
Which Are The Top Trading Platforms In Qatar?
We put together a list with all trading platforms in Qatar that allow new customers to join. We used the Trust Score Ranking system to establish which brokerage firm is the best, as you can see down below:
- IQ Option is the number one online broker in 2020. Easy to use trading platform, lots of trading assets and Highly regulated.
- eToro is the leading broker for social trading offering a variety of tradable assets and great research tools. Easy to
- Saxo Bank is the newcomer – great trading platform and research resources. Rock solid background.
- Swissquote is the best overall trading platform not really showing any weakness. No inactivity fee
- Firstrade is placed number five – Free options, ETF, fund, and stock trading. Good research and educational tools.
- XM Trade is the best trading platform for forex trading offering lots of different trading pairs and analysis tools. Great mobile trading platform.
How We Classify Online Platforms For Qatar Citizens
In our opinion, a professional and reliable online platform must have a high trust score and fair fees. Besides, depositing money or opening an account must be a user-friendly process. We believe that a professional broker should provide access to a leading trading platform and a variety of instruments.
It is challenging to create a list of professional online brokers and platforms. But we do our best to review brokers based on more than 100 criteria with the help of real money and accounts. You can discover additional information about our ranking system in our methodology.
If you are not convinced about which broker or platform to use, you can check out our broker reviews. We classify everything based on the country and further criteria to determine which is the best broker for you. For additional details, you can look at our detailed “Top Forex Brokers” comparison list.
Keep reading to find out our review for the top international online brokers in 2020 for traders who live in Qatar. Let’s start with the top-ranking broker, IQ Option.
IQ Option: Best for Options trading
With almost 16 million accounts and 3,6 million trades per day IQ Options is a legit and transparent trading platform following the latest financial regulations, which enables users to trade a variety of different instruments and assets like forex, stocks, binary options, cryptocurrencies etc.
As it follows from our review the trading experience is pretty smooth. Based on the high level functionality the platform is a good fit for professional traders, but it is also a good fit for beginners as it is really easy to understand and navigate.
eToro: Best for Social Trading
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.
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.
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.
Firstrade – Best Banking Service
Firstrade is a discount stockbroker from the US, regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). It was founded in 1985 with the name First Flushing Securities.
It is considered a safe broker since it has top-tier licenses and a long track record.
In our review we chose Firstrade as the Top Broker for Funds in 2020 after analyzing 57 online brokers and testing their live accounts.
XM: Best for Forex Trading
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 as follows out of our review.
With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:
Be big, Be fair, Be human.
How We Identify A Reliable Platform
These are the top five Qatar platforms in our review. And to make everything simple to understand, let’s discuss some particularities. Below, you can find everything you need to know about what an platform is and how we rank them based on safety, specific factors, and several other features.
Definition Of An Online Platform
If you took the time to think about the stock market thirty years ago, you would discover that everything was rather elementary. The only way you could purchase stock was by calling a broker. He would manage the transaction for a commission and check the stock costs and price fluctuations by phone. But thanks to the internet, you can purchase Apple shares, create an online account, use a brokers’ online platform, or deposit money with one click. So, online brokers are the ones to aid you in selling or purchasing securities, similar to stocks. As soon as you place an order, the online broker completes that purchase almost instantly.
What Are The Safety Risks Of Using An Online Broker in Qatar?
There are some brokers out there that are not safe and are scams. The brokers that are regulated by top-tier authorities are not scams. Also, many online brokers are featured on an exchange or come with a banking history. But even with top-tier regulations and security, you should always take into account that brokerage firms might go down. Remember the Lehman Brothers? It is more than necessary to know everything about your cash and securities. As a general rule, cash and securities are kept in segregated accounts, meaning that your money is kept safe from the company’s money.
Still, in case things go very bad, the broker could take your assets. Your only option may be accessing a compensation fund of the country that offered your broker’s authorization.
How We Chose The Top International Online Trading Platforms For Pakistan Residents
We do our best to analyze trading platforms based on more than 100 features with real money and accounts. So that you have an idea of how we set up our research, here are the top five criteria we used:
- Fees – the standard trading fee for a US equity trade can turn out to be 50 times higher with a specific online broker compared to another. It is best to look carefully at a broker’s fees.
- Account Creation – some online brokers will have you invest with a minimum deposit. But not all brokers have a minimum deposit. We recommend verifying such details before settling upon an online broker.
- Withdrawal And Deposit – for some brokers, depositing money in your account can take five times longer, and it can turn out to be more expensive. Always verify your “all-in cost” before opening an account with a broker.
- Markets And Products – brokers come with distinct product coverage. As an example, some won’t let you invest in Bitcoin or Amazon. Make sure you know the markets and products you’ll have access to.
- Trading Platform – a straightforward trading platform can significantly boost your online trading experience. We recommend you opt for a trading platform that is both well-equipped and user-friendly.
If you like this article then you should also check:
- Best trading platform in Oman
- Best trading platform in Pakistan
- Best trading platform in Jordan
- Best trading platform in Saudi Arabia
- Best trading platform in Iraq
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.
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.
- 1 Which Are The Top Trading Platforms In Qatar?
- 2 How We Classify Online Platforms For Qatar Citizens
- 3 Saxo Bank – Best VIP client experience
- 4 Swissquote – Best Banking Service
- 5 Firstrade – Best Banking Service