Which Are The Best Trading Platforms In Afghanistan?
Given the fact that the Afghani regulatory situation is still developing, and the trading scams in operation are ever present, we have redoubled our efforts to help Afghani traders avoid the pitfalls.
Our team of analysts have decades of experience at their disposal to help the traders in the country get the best possible information on which platform to choose. We are determined to put our research to the best possible use. As is the case every year, we have once again updated our methodology to take account of our readers’ feedback on what matters most to them. This has resulted in us including new categories and criteria in our evaluations, which will better reflect our readers’ needs.
Now, having spent the last six weeks carrying out last minute checks and comparisons on all the trading platforms that accept Afghani customers, the results are finally in.
It gives us great pleasure to reveal our final rankings for the best trading platforms available to Afghani residents in 2020!
- IQ Option is the number one online broker in 2020. Easy to use trading platform, lots of trading assets and Highly regulated.
- AVAtrade is the best overall trading platform not really showing any weakness. Great for beginners and professional traders.
- eToro is the leading broker for social trading offering a variety of tradable assets and great research tools. Easy to use.
- XM Trade is the best trading platform for forex trading offering lots of different trading pairs and analysis tools. Great mobile trading platform.
- Pepperstone is an Australian based forex broker with a great overall performance and low trading fees. Great tools for beginner traders.
TRADING PLATFORM | BENEFITS | ASSETS | ||
|---|---|---|---|---|
#1 |  | Highly sophisticated platform: | - Forex, Metals | |
#2 |  | Highly regulated and safe platform: | - CFDs | |
#3 |  | - Dublin based forex broker | - Forex | |
#4 |  | Best for copy trading: | - Forex | |
#5 |  | Quality platform: | - Forex | |
#6 |  | Solid platform: | - Forex, Indices | |
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.
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.
Plus500: Best For CFD Trading
Plus 500 is a quality CFD's provider and operates around the world via its subsidiaries: Plus500AU, AFSL #417727 issued by ASIC, Derivatives issuer licence in New Zealand for NZ clients, FSP No. 486026; Financial Services Provider # 47546 in South Africa. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
EASIEST TO USE: AVA Trade
For a start, Avatrade boasts some pretty impressive business statistics, facilitating over two million transactions every month, with total values regularly exceeding $60 billion in value. These transactions aren’t only limited to forex trading, but extends to other financial instruments such as digital currency, bonds, different binary options and CFDs.
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.
eToro has been awarded as the best social trading platform - social trading means you can follow other traders and copy their investment strategies.
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.
With over 1.5 million clients in 196 countries, the XM global company focuses on three core principles:
Be big, Be fair, Be human.
Online Trading Regulation in Afghanistan
As you would expect from a country with such a turbulent recent history, Afghanistan’s regulatory framework is relatively weak. However, there has been strong leadership exhibited by the Ministry of Finance, which has been a rock in the country’s fiscal recovery.
There is a central bank in place, too, which is Da Afghanistan Central Bank. Formed in 1939, its prime objectives are to create and implement the country’s monetary policy, manage its forex reserves, ensure a strong payment, clearing and settlement system, and oversee the licensing and regulation of its money service providers, payment system operators, and banks.
Trading Scams
Although encouraging efforts are being made to provide Afghani residents with a regulatory framework to protect them in their financial dealings, there have been several trading scams in operation. The most notable of these was the Vision Financial Services scandal, which caused widescale protests last year from those who had fallen victim to their empty forex promises.
Here at Business24-7, it is our hope that Afghani traders ensure they carry out proper due diligence and make 100% sure the trading platform they choose has a robust record on safety and security before signing up. It is unfortunate events just like this that we have been established to prevent.
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Our Mission
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.
Disclosure
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.
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