Forex trading is a legal tender in Kuwait with the two regulators overseeing the country’s financial brokers including the Capital Markets Authority (CMA) and the Central Bank of Kuwait. The country is rich in oil production, making it popular to speculate on oil and other commodities.
Kuwait does not impose income taxes on individuals, meaning profits made in financial markets will not be taxed.
There are plenty of reputable brokers to choose from when trading Forex markets from Kuwait. We have gathered the top brokers for 2024 in the list below, ranked by their safety, low fees, assets, and more.
A quick comparison of top-rated FX brokers in Kuwait
XM
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Visit broker 8.4 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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AvaTrade
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Visit broker 8.8 7.63 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Pepperstone
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Visit broker 8.2 7.75 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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HYCM
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Visit broker 8 7.97 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-76 % of retail investor accounts lose money when Trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. For more information please refer to HYCM’s Risk Disclosure. Additionally, the content of this website is for information purposes only and it is not intended as a recommendation or advice. Any indication of past performance or simulated past performance included in advertisements published by HYCM is not a reliable indicator of future results. The customer carries the sole responsibility for all the businesses or investments that are carried out at HYCM.
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HFM
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Visit broker 7 5.86 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.77% of retail investor accounts lose money when trading CFDs with HF Markets (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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| Regulated by CMA of Kuwait | No | No | No | No | No |
| Regulated in the UAE or Dubai | No | Yes | Yes | No | Yes |
| Offers accounts in Kuwait under | - | FRSA of Abu Dhabi | Dubai and UAE | - | DFSA of Dubai |
| Account entity for Kuwaiti residents | - | Ava Trade Middle East Ltd | Pepperstone Financial Services (DIFC) Limited | - | HF Markets (DIFC) Ltd |
| Accepts deposits in KWD | No | No | No | No (in AED) | No |
| The website supports the Arabic language | Yes | Yes | Yes | Yes | Yes |
| Accepts deposits in EUR or GBP | Yes | Yes | Yes | Yes | Yes |
| Spreads on oil | From 0.03 | From 0.01 | From 2.5 | From 4 | - |
| Spreads on Gold | From 1.5 pips | From 0.29 USD | From 0.05 | From 0.15 | - |
| Spreads on EUR/USD | From 0.6 pips | From 0.9 pips | From 0 pips | From 1.2 pips | From 0.6 pips |
| Maximum Leverage | 1000:1 | 400:1 | 400:1 | 500:1 | 2000:1 |
| Minimum Deposit | 5 USD | 100 USD | 0 USD | 20 USD/EUR/GBP or equivalent in AED | 5 USD/EUR/GBP |
| Deposits via KNET | No | No | No | No | No |
| Trading Platforms | MetaTrader 4 and 5 | MetaTrader 4 and 5, DupliTrade | MetaTrader 4 and 5, cTrader | MetaTrader 4 and 5 | MetaTrader 4 and 5 |
XM
XM is a global broker that offers trading services to the majority of countries, including Kuwait. XM has lower spreads on Gold than many other countries, making it suitable for Kuwaiti traders.
- 57 currency pairs
- 100 physical shares
- 31 cryptos
- 1261 share CFDs
- 31 commodity CFDs
- 14 indices
- 8 commodities
XM is not regulated in the UAE, Dubai, or Kuwait, but it is reputable enough to recommend residents of Kuwait for a safe and reliable trading environment.
XM offers Islamic accounts to Kuwaiti traders where all instruments are available including Gold, oil, cryptos, and currencies. Gold can be traded with 1.5 pips, while oil has 0.03 spreads. The website is available in a multitude of languages, including Arabian.
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8.4
8.34
| Micro Account | Standard Account | XM Ultra Low Account | |
|---|---|---|---|
| Spreads on EUR/USD | From 1.6 pips | From 1.6 pips | From 0.6 pips |
| Spreads on oil | From 0.03 | From 0.03 | From 0.03 |
| Spreads on Gold | From 1.5 pips | From 1.5 pips | From 1.5 pips |
| Minimum Deposit | 5 USD | 5 USD | 5 USD |
| Maximum Leverage | 1:1000 | 1:888 | 1:1000 (no leverage for Shares accounts) |
| Negative Balance Protection | Yes | Yes | Yes |
| Minimum Lot Size | 0.01 Lots (MT4)
0.1 Lots (MT5) | 0.01 Lots | Standard Ultra: 0.01 Lots
Micro Ultra: 0.1 Lots |
| Islamic Account | Yes | Yes | Yes |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
AvaTrade
AvaTrade is available in Kuwait and is regulated by several reputable authorities. Ava Trade Middle East Ltd is the legal entity operating accounts in Kuwait that is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA).
- 64 Forex pairs
- 629 shares as CFDs
- 19 cryptocurrencies as CFDs
- 30 indices
- 17 commodities
AvaTrade offers several oil products for trading including crude oil, Brent oil, and heating oil. Crude oil has a spread of $0.03 over market, Brent oil 0.01, and heating oil 0.003. Gold trading can be with a 0.29 USD spread. Crude oil comes with a maximum leverage of 1:100, while Brent oil CFDs can be traded with 1:200 leverage. Gold has 1:200 leverage similar to Brent oil CFDs for Kuwaiti and other Arabian traders.
Avatrade offers Islamic accounts for Kuwaiti and other Arabian countries residents. The website of AvaTrade is available in numerous languages to cover UAE and other Arabian countries.
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8.8
7.63
| Standard Account | |
|---|---|
| Spread on EUR/USD | 0.9 pips |
| Spreads on oil | From 0.01 |
| Spreads on Gold | From 0.29 USD |
| Minimum Deposit | 100 USD |
| Maximum Leverage | 1:400 |
| Negative Balance Protection | Yes |
| Minimum Lot Size | 0.01 lots |
| Islamic Account | Yes |
| Trading Platforms | MetaTrader 4, MetaTrader 5, DupliTrade |
Pepperstone
Pepperstone Financial Services (DIFC) Limited is regulated in the UAE and Dubai and offers its services to a multitude of Arabian countries. Pepperstone is available in Kuwait and offers very attractive trading terms to Kuwaiti traders.
The diverse asset classes and instruments offered by Pepperstone are numerous:
- 62 currency pairs
- 1,000+ share CFDs
- 23 crypto CFDs
- 32 commodities
- 23 indices
Spreads on Gold start from 0.05 (XAUUSD), and for oil, it is 2.5. Pepperstone offers Islamic accounts as well. The website is available in the Arabic language.
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8.2
7.75
| Razor account | Standard account | |
|---|---|---|
| Spreads on EUR/USD | From 0 pips | From 1 pip |
| Spreads on oil | From 2.5 | From 2.5 |
| Spreads on Gold | From 0.05 | From 0.05 |
| Commissions | AUD 3.50 (AUD 7 round turn) | No |
| Minimum Deposit | 0 USD | 0 USD |
| Negative Balance Protection | Yes | Yes |
| Maximum Leverage | 1:400 (1:200 for retail traders) | 1:400 (1:200 for retail traders) |
| Islamic Account | No | Yes |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4, MetaTrader 5, cTrader |
HYCM
HYCM is not regulated in any of the Arabian countries but is available for Kuwaiti traders. The broker offers Islamic accounts available in the Arabic language.
HYCM offers access to diverse markets, including:
- 71 Forex pairs
- 29 cryptos
- 28 indices
- 20 commodities
- 1000+ stocks (recently added)
HYCM has several account types, all with Islamic alternatives, which is critical for traders in Kuwait. These accounts have both fixed and floating spreads. The broker offers very attractive conditions for Kuwaiti traders with its educational resources as well.
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8
7.97
| Fixed | Classic | Raw | |
|---|---|---|---|
| Spreads on EUR/USD | 1.5 pips | From 1.2 pips | From 0 pips |
| Spreads on oil | 6 | From 4 | From 4 |
| Spreads on Gold | - | From 0.15 | From 0.15 |
| Minimum Deposit | 20 USD/EUR/GBP or equivalent in AED | 20 USD/EUR/GBP or equivalent in AED | 20 USD/EUR/GBP or equivalent in AED |
| Negative Balance Protection | Yes | Yes | Yes |
| Maximum Leverage | 1:500 | 1:500 | 1:500 |
| Islamic Account | Yes | Yes | Yes |
| Trading Platforms | MT4, MT5 | MT4, MT5 | MT4, MT5 |
HFM
HFM is a regulated broker that offers its website in a multitude of languages, including Arabic. While not regulated in the UAE, Kuwait, or Dubai, HFM still offers its services to Kuwaiti residents. HFM does not accept KWD or AED deposits but supports USD, EUR, and GBP. The broker charges no deposit fees.
- 53 currency pairs
- 2170 share CFDs
- 13 commodity CFDs
- 11 indices
- 40 cryptos
- 33 ETFs
HFM offers swap-free accounts targeting Arabian traders, including citizens of Kuwait. Support is also offered in multiple languages, including Arabic.
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7
5.86
| Cent | Zero | Pro | |
|---|---|---|---|
| Spreads on EUR/USD | From 1.2 pips | From 0 pips | From 0.6 pips |
| Spreads on oil | - | - | - |
| Spreads on Gold | - | - | - |
| Minimum Deposit | 5 USC | 5 USD/EUR/GBP | 5 USD/EUR/GBP |
| Negative Balance Protection | Yes | Yes | Yes |
| Maximum Leverage | 1:2000 | 1:2000 | 1:2000 |
| Islamic Account | Yes | Yes | Yes |
| Trading Platforms | MT4, MT5 | MT4, MT5 | MT4, MT5 |
Best choice of the broker in Kuwait per category
Best Broker in Kuwait for Forex Trading
| XM | AvaTrade | Pepperstone | HYCM | HFM | |
|---|---|---|---|---|---|
| Number of Forex pairs | 50 | 64 | 62 | 71 | 50 |
| Spreads on EURUSD | From 1 pip | From 0.9 pips | From 1 pip | From 1.2 pips | From 0.6 pips |
HYCM has the highest number of Forex pairs, while the HFM offers lowest spreads on EURUSD on standard accounts.
Best Broker in Kuwait for Gold and Oil Trading
| XM | AvaTrade | Pepperstone | HYCM | HFM | |
|---|---|---|---|---|---|
| Spreads on Oil | From 0.03 | From 0.01 | From 2.5 | From 4 | - |
| Spreads on Gold | From 1.5 pips | From 0.29 USD | From 0.05 | From 0.15 | - |
AvaTrade is the best broker for Kuwaiti traders who want to speculate on commodities markets, including oil and gold.
Best Broker in Kuwait for Crypto CFD Trading
| XM | AvaTrade | Pepperstone | HYCM | HFM | |
|---|---|---|---|---|---|
| Number of Crypto pairs | 31 | 19 | 23 | 29 | 40 |
| Spreads on Cryptos | From 0.0017. Spreads on BTC/USD start from 39 | From 0.20%. Commissions on BTC/USD start from 0.20% | From 0 spreads. 33.97 Avg spread on BTC/USD | From 100 pips | - |
The lowest spreads on BTCUSD are offered by Pepperstone while HFM offers the most number of cryptos. HFM is not clear about their exact spreads on BTCUSD unless the trader opens a trading account with them.
How to check if the broker is regulated by Kuwait CMA or any other Arabian authority?
The fastest way to detect whether your selected broker is regulated in Kuwait, UAE, or Dubai is to check our list. Another way is to first check the website of the broker and then visit websites for each regulator including CMA, and DFSA, and search in their registries.
All CMA-regulated Forex Broker Reviews
Below we present all the brokers who are regulated by the Kuwait CMA.
