In this guide, we go over the best trading platforms in Algeria. 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 Algeria
- Interactive Brokers – Best trading platform overall
- XTB – Ideal for users looking to trade forex and CFDs
- Capital.com – Broker with great educational content and resources
- OandA – Low risk CFD and forex broker
- CMC Markets – Broker known for its award winning trading experience
Best Online Trading Platforms Algeria
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||Interactive Brokers||4.9||Best trading platform overall||$0|
|#2||XTB||4.5||Ideal for users looking to trade forex and CFDs||$250|
|#3||Capital.com||4.7||Broker with great educational content and resources||$20|
|#4||OandA||4||Low risk CFD and forex broker||$0|
|#5||CMC Markets||5||Broker known for its award winning trading experience||$0|
Below section breaks down the best trading platforms in Algeria, beginning with the highest rated…
01. Interactive Brokers: Best trading 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. 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.
03. Capital.com: Broker with great educational content and resources
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. OandA: Low risk CFD and forex broker
OandA is a low risk CFD and forex broker with an extensive market research section, daily market updates and social trading features. Authorized by 6 tier one regulators, it is considered low risk for traders all across the globe. Their trading platform is intuitive, automate-executing and offers multiple features for algorithmic and social trading. Mobile trading is available through fxTrade on industry leading research and charting tools.
For a low cost broker, their fees and commissions are above industry average across all accounts (core and default).
05. CMC Markets: Broker known for its award winning trading experience
CMC Markets is a reputable online broker known for its award winning trading experience, excellent selection of tradable instruments and industry leading pricing. With over 12.500 tradable instruments across all asset classes, CMC is among industry leaders in market coverage.
Their proprietary trading platform called Next Generation is reliable, fast executing and fully packed with useful trading tools and indicators. It features an impressive education and research section full of quality in-house and third party content.
CMC Market offers the lowest commissions and fees in the industry. Low spread fees (0.73 pip on EUR/USD) are available for traders at all levels and accounts. Additional bonuses and rebates for active traders makes CMC Markets a market leader in costs and fees.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Algeria 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 Algerian 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. Algerian 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 Algeria
Algeria is among the biggest countries in Africa and their great reserves on petroleum and minerals make them open for foreign exchange and online trading. Despite the big potential and interest in retail forex and equity markets, are Algerians facing heavy limitations accessing different markets and investment opportunities. One of the biggest is Sharia Law, which defines excludes a significant part of the Algerian population in the ability to take part in online trading and online money processing.
Commission d’Organisation et de Surveillance des Opérations de Bourse (COSOB) is the main financial regulation authority in Algeria for online trading and brokerage services. All companies that offer online trading and brokerage services in Algeria are required to have a valid license issued by the COSOB.
Algerians are allowed to use offshore brokerage accounts without a valid COSOB license, but in this case the government does not guarantee any protection of their investment.
Online Trading Regulation
Online trading regulations in Algeria are tight and strict. The Algerian government has adopted a rigid legal environment for companies offering online trading services in Algeria. As of now there is not a single company meeting their high standards of regulation and therefore Algerians are using international services to trade online.
As an Algerian citizen you will need to relay on offshore brokerage services and international top tier regulators to ensure the safety of your investments.
There is currently no online trading company registered in Algeria with a valid license from the COSOB. Algerian citizens can use offshore brokerage services which are regulated by top-tier global financial authorities and ensure safety of their online trading activity.
Offshore broker verification is done through comparison of their license and registration numbers available at the brokers official website with the data available at the countries regulation authority web page.
If the broker does possess a valid licence the data on the regulators website will match with the data shown on the brokers website.
Based on our review, we consider Interactive Brokers as the best trading platform for Algerian residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
XTB is the second best trading platform for Algerian residents, because of their low fees, advanced trading tools, copy trading features and a responsive customer support. Capital.com, OandA and CMC Markets are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Algeria?
There are trading platforms in Algeria offering 0% commission trading, especially for CFD. eToro is a top choice.
How Much Should I Invest When Trading Online in Algeria?
Brokers in Algeria have minimum deposit rate that users need to deposit in order to open a trading account. The average minimum deposit is is $50.
Is Crypto Trading Available In Algeria?
Yes, crypto trading is available to Algerian 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 COSOB 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 Algeria
- 2 Best Online Trading Platforms Algeria
- 2.1 01. Interactive Brokers: Best trading platform overall
- 2.2 02. XTB: Ideal for users looking to trade forex and CFDs
- 2.3 03. Capital.com: Broker with great educational content and resources
- 2.4 04. OandA: Low risk CFD and forex broker
- 2.5 05. CMC Markets: Broker known for its award winning trading experience
- 2.6 How To Pick The Right Platform?
- 2.7 Online Trading In Algeria
- 2.8 Online Trading Regulation
- 2.9 Licence Verification
- 3 Conclusion