This page lists the best forex brokerages for online trading of foreign exchange. Forex trading is a popular investment style adopted by thousands of people living in Qatar.
This section lists online forex trading brokers that accept clients from within the country. These names also include binary options trading platforms.
|Olymp Trade - Recommended|
|GCI Online Trading|
|Windsor Brokers (BZ)|
|Oanda - FXTrade|
|XTB Online Trading|
|TMS Brokers Europe|
Forex trading activities are not regulated in Qatar. However, as a general rule, the Qatar Central Bank is responsible for formulating policies around foreign exchange movements processed through licensed banking institutions in the country.
For regular investment companies, Qatar Central Bank has the following forms that need to be filled and submitted:
Investment Companies Licensing in Qatar
(License requirements p. 9-15 of the Instructions to Investment Companies up to December 2010 - Arabic Version) -Licensing Applications :
1- License Application Form
(Form (A) National Investment Company Arabic Version)
2- License Application Form
(Form (B) Branch - Foreign Investment Company in Qatar Arabic Version)
3-License Application Form
(Form (C) Branch Local Investment Company in Qatar Arabic Version) |
Yes, forex trading is legal in Qatar. Since no law exists for online retail forex trading in the country, and the Qatari government hasn't issued any notification regarding its legality, it's safe to trade forex as a means of valid investment in the financial markets.
Forex trading is allowed in Sharia. It is permitted in Islam to trade forex. In fact, Qatar is one of the biggest banking and financial centers in the world. Each day, billions of dollars worth of natural gas contracts are traded. These activities require dealing with foreign currencies that include the US Dollar, British Pounds, Euros, Yens, Yuan etc. The truth is that forex trading is at the core of all GDP produced by Qatar in terms of its energy exports to the rest of the world.
All forex brokers offer cent, standard, pro accounts for trading forex online. Minimum deposits on such accounts can start from 36 QAR ($10) with certain brokers, while the usual deposit is 730 QAR ($200). The spreads on these accounts are between 2 to 10 pips per trade.
ECN stands for Electronic Communication Network; these accounts connect directly with the liquidity suppliers (big banks). Their main feature are low spreads, with most forex deals going as low as 0.1 pip or even zero. They require larger deposits and are popular among traders looking to invest large amounts of money in the forex markets.
Social trading is very popular in Qatar. Many brokers such as Olymp Trade, IQ Option, Zulutrade, and eToro have made their way into this space. In this type of trading, a Qatari forex investor passes on the trading decisions to a community of professional forex signal providers, who have proven profitable track record in the forex markets. No action is needed to be taken from the investor's side, as the social trading platform takes care of all the buying and selling and final end of day settlement.
Automatic robot scripts (forex auto robots) are also used by thousands of traders in the country. There are many suppliers of such scripts. At this time, BinaryOptionsAutoTrading is quite popular on the internet, as a leading platform for auto robot forex trading.
There's been a surge of Bitcoin and crypto-currencies brokers in the past few years. Following is the list of best crypto trading platforms for Qatar:
|Crypto Trading Platform|
|Crypto Auto Trade - Very popular in Qatar|
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