Forex trading is not illegal and is not regulated in Qatar. The regulator that oversees brokers and financial trading in Qatar is the Qatar Financial Centre Regulatory Authority (QFCRA) which operates within the Qatar Financial Centre (QFC). If the broker is outside the QFC, no local regulator oversees the brokers.
The nearest reputable authority is Dubai’s DFSA or Dubai Financial Services Authority, which operates within the Dubai International Financial Centre (DIFC). The DIFC is a financial-free zone located in Dubai, United Arab Emirates.
Qatar does not impose income or capital gains tax on individuals for making profits in Forex or other financial markets. Forex traders in Qatar can trade without the fear of paying a portion of their profits to the government, creating an attractive FX trading environment in the country.
Quick overview of the best Forex brokers in Qatar
The list below contains the best brands to trade FX in Qatar.
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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Tickmill
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Visit broker 7.6 6.29 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 Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products 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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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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ICM
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Visit broker 8 0 Trade Responsibly: CFDs and Spot FX are complex instruments that come with a high risk of losing funds due to leverage. You should not engage in this form of investing unless you understand the nature of the transaction you are undertaking and the true extent of your exposure to financial loss. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based.
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| Offers accounts in Qatar under | Belize | DFSA in DIFC | DFSA in DIFC | DFSA Dubai | Financial Centre of Qatar |
| Account entity for Qatar | XM Global Limited | Tickmill UK Ltd | HYCM Capital Markets (DIFC) Limited | Pepperstone Financial Services (DIFC) Limited | ICM LLC (Qatar) |
| Accepts deposits in AED or KWD | No | No | Yes | Yes | Yes |
| Spreads on EUR/USD | From 1 pip | From 1.6 pips | From 1.2 pips | From 1 pip | From 1.3 pips |
| Spreads on Crude Oil | from 0.02 | - | From 2 pips | From 2.5 | From 2 pips |
| Spreads on Brent Oil | from 0.02 | From 0.04 | From 4 pips | From 2.5 | From 2 pips |
| Spreads on Gold | From 2.6 pips | From 0.09 USD | From 0.25 USD | From 0.5 USD | From 0.25 USD |
| Spreads on BTC/USD | From 46.00 | - | From 90 pips | From 17 pips | From 10 points |
| Maximum Leverage | 1000:1 | 1:30 for Qatari residents | 500:1 | 400:1 | 200:1 |
| Minimum Deposit | 5 USD, EUR, GBP | 100 USD/EUR/GBP | 20 USD or equivalent in AED | 0 USD | 200 USD or equivalent |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4 and 5, cTrader | MetaTrader 4, MetaTrader 5, cTrader, ICM Securities |
XM
Although not regulated in Qatar, XM is one of the most reputable and trustworthy brokers that can be used in Qatar. The country does not have its own regulator except for the QFC and XM is regulated by the Financial Services Commission (FSC) of Belize, and it also holds a license from the Cyprus Securities and Exchange Commission (CySEC). The main entity that offers trading services worldwide apart from the EU is XM Global Limited, regulated in Belize.
XM offers a multitude of trading assets and abundant trading instruments including
- 50 Forex pairs
- 58 Cryptocurrencies
- 1000+ stock CFDs
- 7 turbo stocks
- 8 commodities
- 20 indices
- 3 precious metals
- 3 energies
The website of XM is available in several languages including the Arabic language for Qatari and Arabian region. Spreads on both Brent oil and Crude Oil start from 0.02 which is very low, and for Gold average spread is 2.6 pips. The spread for gold on ultra low standard account is 1.5 pips.
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8.4
8.34
| Micro | Standard | XM Ultra Low | |
|---|---|---|---|
| Spreads on EURUSD | From 1 pip | From 1 pip | From 1 pip |
| Spreads on Crude Oil | from 0.02 | from 0.02 | from 0.02 |
| Spreads on Brent Oil | from 0.02 | from 0.02 | from 0.02 |
| Spreads on Gold | From 2.6 pips | From 2.6 pips | From 1.5 pips |
| Spreads on BTC/USD | From 46.00 | From 46.00 | From 35.00 |
| Minimum Deposit | 5 USD, EUR, GBP | 5 USD, EUR, GBP | 5 USD, EUR, GBP |
| Minimum lot size | 0.01 lots | 0.01 lots | 0.01 lots |
| Maximum leverage | 1:1000 | 1:1000 | 1:1000 |
| Islamic accounts | Yes | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
Tickmill
Tickmill is a regulated Forex and CFDs broker available in Qatar and worldwide. The entity that offers services in Qatar is regulated by the DFSA of Dubai in DIFC and is a Representative Office for Tickmill UK Ltd. Tickmill is not available in Arabic language as the company that operates within the Arabian region is based in the UK.
Tickmill offers access to diverse markets for Qatar residents including
- 62 Forex pairs
- 15 indices
- 7 commodities
- 500 stock and ETFs
- 15+ futures and options
Tickmill offers 1:20 leverage for commodities trading for citizens of the Arabian region and the UK. The leverage is the same for stocks. 1:5 leverage is for bonds and 1:20 for stock indices. Tickmill requires a minimum deposit of 1,000 USD or equivalent for futures and options trading. There are no cryptos for the UK and Arabia including Qatar.
As for the spreads, Tickmill has competitive conditions on Brent Oil from 0.04 and gold from 0.09. Islamic or swap-free accounts are available for all account types offering flexible choice for Qatari Forex traders.
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7.6
6.29
| Pro | Classic | VIP | |
|---|---|---|---|
| Spreads on EURUSD | From 0.0 pips | From 1.6 pips | From 0.0 pips |
| Commissions | 2 USD per side per lot | none | 1 USD per side per lot |
| Spreads on Crude Oil | - | - | - |
| Spreads on Brent Oil | From 0.04 | From 0.04 | From 0.04 |
| Spreads on Gold | From 0.09 USD | From 0.09 USD | From 0.09 USD |
| Spreads on BTC/USD | - | - | - |
| Minimum Deposit | 100 USD/EUR/GBP | 100 USD/EUR/GBP | - |
| Maximum Leverage | 1:30 for Qatari residents | 1:30 for Qatari residents | 1:30 for Qatari residents |
| Negative Balance Protection | Yes | Yes | - |
| Islamic accounts | Yes | Yes | Yes |
| Minimum Lot Size | 0.01 lots | 0.01 lots | 0.01 lots |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
HYCM
HYCM is a regulated Forex and CFDs broker that is available in Qatar. It accepts deposits in AED of UAE which is useful for traders in Qatar.
The number of tradable instruments is abundant for Qatari Forex traders, provided by HYCM
- 67 Forex pairs
- 8 metals
- 3 energies
- 4 commodities
- 28 index CFDs
- 212 stock CFDs
- 19 crypto CFDs
HYCM Capital Markets (DIFC) Limited which offers services to Qatari citizens is regulated in Dubai by the Dubai Financial Services Authority (DFSA) in Dubai International Financial Centre (DIFC). HYCM has competitive spreads for Qatar FX traders with 2 pips on Crude oil, 4 pips on Brent Oil, 0.25 USD on Gold, and 90 pips on BTC/USD. All accounts are available in a swap-free version for Qatari traders. The website of HYCM is available in Arabic language making it easy to understand for Qatar traders.
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8
7.97
| Fixed | Classic | Raw | |
|---|---|---|---|
| Spreads on EURUSD | 1.5 pips fixed | From 1.2 pips | From 0.1 pips |
| Spreads on Crude Oil | 4 pips | From 2 pips | From 2 pips |
| Spreads on Brent Oil | 6 pips | From 4 pips | From 4 pips |
| Spreads on Gold | 0.35 USD | From 0.25 USD | From 0.25 USD |
| Spreads on BTC/USD | 100 pips | From 90 pips | From 90 pips |
| Minimum Deposit | 20 USD or equivalent in AED | 20 USD or equivalent in AED | 20 USD or equivalent in AED |
| Maximum Leverage | 1:500 | 1:500 | 1:500 |
| Negative Balance Protection | Yes | Yes | Yes |
| Islamic accounts | Yes | Yes | Yes |
| Minimum Lot Size | 0.01 lots | 0.01 lots | 0.01 lots |
| Trading Platforms | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
Pepperstone
Pepperstone is available in Qatar, as it is regulated in DIFC by the Dubai DFSA. The entity that offers trading services to Arabian countries including Qatar is Pepperstone Financial Services (DIFC) Limited. The broker accepts deposits in AED which can be super useful for Forex traders in Qatar.
Trading instruments offered by Pepperstone in a wide range of asset classes include
- 62 currency pairs
- 1,000+ share CFDs
- 23 crypto CFDs
- 32 commodities
- 23 indices
Pepperstone provides swap-free accounts, targeting a wide range of Arabian countries, including Qatar. Pepperstone is an attractive Forex and CFDs broker for traders in Qatar because of its low spreads on commodities including 2.5 on Brent oil and Crude oil, 0.5 USD on Gold, and 17 pips on BTC/USD. The website of Pepperstone is available in 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 Crude Oil | From 2.5 | From 2.5 |
| Spreads on Brent Oil | From 2.5 | From 2.5 |
| Spreads on Gold | From 0.5 USD | From 0.5 USD |
| Spreads on BTC/USD | From 17 pips | From 17 pips |
| Commissions | AUD 3.50 (USD 7 round turn or equivalent in AED) | No |
| Minimum Deposit | 0 USD | 0 USD |
| Minimum lot size | From 0.01 lots | From 0.01 lots |
| 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 |
ICM
ICM is available and regulated in Qatar. The broker is regulated by the Qatar Financial Centre of Qatar and the legal entity operating under the license is ICM LLC (Qatar). ICM is one of few brokers that can be super useful for Qatari residents because of its full adjustment to local Forex traders and markets. The broker accepts deposits in Qatari Riyal making it cost-effective for local residents to deposit funds and start trading on various financial instruments across a multitude of asset classes.
ICM offers several asset classes and a multitude of trading instruments for clients from Qatar, including
- 51 Forex pairs
- 3 precious metals
- 89 US stock CFDs
- 3 energy futures including Brent Oil
- 11 index futures
- 1 OTC Palladium Future
- 11 cash CFDs on various assets
- 6 Cryptos including BTC/OIL pair
- 3 commodity futures
- 10 US Treasury & Currency Futures
As we can see, ICM offers a dedicated crypto pair to speculate on both oil and Bitcoin simultaneously (BTC/OIL). This pair is exclusive to the Arabian region offering great flexibility to Qatar Forex traders to trade on their preferred pairs.
EUR/USD comes with 1.3 pips and 0 pips depending on the trading account type, Gold has spread from 0.25 USD, Crude Oil comes with 2 pips spread, E-Mini Natural Gas with 3, Brent Crude Future with 2, BTC/OIL with 20 points, BTC/USD with 10 points, and US 10-Year Bond Future with 3.5 spreads.
ICM is available in Arabic language for Qatar FX traders.
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8
0
| ICM DIRECT (ECN) | ICM ZERO | ICM CENT | |
|---|---|---|---|
| Spreads on EURUSD | From 1.3 pips | From 0 pips | From 1.3 pips |
| Spreads on Crude Oil | From 2 pips | From 2 pips | From 2 pips |
| Spreads on Brent Oil | From 2 pips | From 2 pips | From 2 pips |
| Spreads on Gold | From 0.25 USD | From 0.25 USD | From 0.25 USD |
| Spreads on BTC/USD | From 10 points | From 10 points | From 10 points |
| Commission | zero | 7 USD round turn per 100k traded* | zero |
| Minimum Deposit | 200 USD or equivalent | 200 USD or equivalent | 200 USD or equivalent |
| Maximum Leverage | 1:200 | 1:200 | 1:200 |
| Negative Balance Protection | Yes | Yes | Yes |
| Islamic accounts | Yes | Yes | Yes |
| Minimum Lot Size | 0.01 lots | 0.01 lots | 0.01 lots |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, ICM Securities | MetaTrader 4, MetaTrader 5, cTrader, ICM Securities | MetaTrader 4, MetaTrader 5, cTrader, ICM Securities |
*only for Forex pairs and metals, all other assets have zero commissions on all three accounts and swap-free accounts
Best choice of the broker in Qatar by category
Depending on the trader’s preference different brokers might be more suitable. Some traders prefer trading cryptos while others prefer FX or commodities.
Best Broker in Qatar for Forex Trading
| XM | Tickmill | HYCM | Pepperstone | ICM | |
|---|---|---|---|---|---|
| Number of Forex pairs | 50 | 62 | 67 | 62 | 51 |
| Typical spreads on EUR/USD | From 1 pip | From 1.6 pips | From 1.2 pips | From 1 pip | From 1.3 pips |
XM and Pepperstone have the lowest spreads on major pairs of EUR/USD from 1 pip on standard accounts. It has to be noted that all brokers offer zero-spread accounts for small commissions.
Best Broker in Qatar for Gold Trading
| XM | Tickmill | HYCM | Pepperstone | ICM | |
|---|---|---|---|---|---|
| Typical spreads on XAU/USD | From 2.6 pips | From 0.09 USD | From 0.25 USD | From 0.5 USD | From 0.25 USD |
Tickmill has the lowest spreads when it comes to gold trading with spreads from 0.09 USD.
Best Broker in Qatar for Oil Trading
| XM | Tickmill | HYCM | Pepperstone | ICM | |
|---|---|---|---|---|---|
| Typical spreads on Brent Oil | from 0.02 | - | From 2 pips | From 2.5 | From 2 pips |
| Typical spreads on Crude Oil | from 0.02 | From 0.04 | From 4 pips | From 2.5 | From 2 pips |
For energy trading, XM has one of the best trading conditions with low spreads and commissions in the industry right now.
Best Broker in Qatar for BTC Trading
| XM | Tickmill | HYCM | Pepperstone | ICM | |
|---|---|---|---|---|---|
| Number of cryptos | 58 | - | 19 | 23 | 6 |
| Typical spreads on BTC/USD | From 46.00 | - | From 90 pips | From 17 pips | From 10 points |
While XM has the highest number of crypto CFDs for trading and average spreads, ICM offers BTC/USD for lower typical spreads from 10 points.
How to check if the broker is regulated by the Financial Centre of Qatar or DFSA
There are several ways to ensure your broker is either regulated in Qatar or the nearest regulator, which is Dubai’s DFSA in DIFC. The simplest way is to just read through our list of brokers that are best for Qatari Forex traders. However, traders who want to check for a specific broker will have to go through numerous steps.
Step One: Visit the regulator’s webpage
To check if the broker is regulated in DFSA Dubai visit the website of the regulator (dfsa.ae) and click on the public register button in the bottom menu.
Step Two: Navigate to the Public Register of Firms
You will be redirected to the public register of firms’ page where all the regulated and licensed companies can be found in the search bar.
Step Three: Search for the broker in the list
Write the name of the broker you are interested in and click on the search button. If there is a regulated firm under the name you entered it will be shown below. If there is nothing found probably your broker is not regulated by the DFSA. Some brokers might be licensed with different legal entity names, ensure to check their website to find the exact name of the entity that is licensed by the DFSA.
All Qatari Financial Centre of Qatar-regulated Forex Broker Reviews
Here is the list of all Forex brokers that are regulated and operating in Qatar. All these brokers hold a license from the Qatari regulator and are allowed to operate within the country.
