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Best Forex Brokers Romania 2022

To come up with this list, we have tested forex brokers Romania.

After opening a real account and depositing between $4K to 6K with each broker we placed trades in each popular market to get an accurate picture.

We also contacted customer support to see their dedication and the ability of solving problems. At last, to check the withdrawal process we withdrew our funds.

We handpicked the best forex brokers Romania based on our trading data and experience as a trader.

Is Forex Trading available in Romania

With a population of about 20 million, Romania is considered one of the largest economies in Eastern Europe. The country joined the European Union in 2007. Since then Romania has been trying to catch up with other member countries in terms of productivity. As of today, Romania is still using its national currency (Leu), though the currency is scheduled to be replaced by the euro in 2024.

Forex trading in Romania is available and is regulated by the National Bank of Romania, under Regulation No. 4/2005.

The National Bank of Romania’s website is www.bnr.ro.

According to the country’s legislation, everybody has access to forex trading in Romania. However, brokers that offer their services in the country have to hold licenses from the local regulatory body.  Forex brokers Romania are authorized by the Financial Supervisory Authority.

Being a member of the EU, Romania follows all the regulations of the European MiFID financial harmonization law. According to the latter, all the European brokers are available in the country. Also, the country follows certain restrictions set by the ESMA (European Securities and Markets Authority). According to these restrictions, there are no available bonuses or promotions for CFDs in the country.

🏦RegulatorThe National Bank of Romania
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Romania

Finding a reliable forex broker is one of the most important decisions in forex trading. When choosing a forex broker Romania, traders should take into account that in the country there are brokers that fall under the local regulations, also, Romanians can trade and open account with all European Regulated Broker.

However, before signing with a certain broker, it is important to make sure that the broker is trustworthy and properly regulated. Traders should pay attention to the offerings of the broker, and see whether they meet their trading needs. Traders are encouraged to check what payment methods the broker supports. Also, whether the broker provides customer support in the preferred language.

To select the best forex brokers Romania, we have tested and reviewed various brokers. Based on our tests, we recommend trading with the following brokers that we have selected as the best forex brokers Romania:

  • eToro
  • ThinkMarkets
  • Plus500
  • XM

Best Online Forex Broker Romania Overall

We picked Plus500 as the best overall forex broker Romania.  

Plus500 was founded in 2008 and is headquartered in Israel. The broker holds licenses in the United Kingdom, Cyprus, Seychelles, Singapore, and Australia. Plus500 offers trading instruments in the following categories: forex pairs and CFDs of stocks, indices, cryptocurrencies, ETFs, and options. Plus500 is suitable both for retail and professional traders. 

Based on our tests, Plus500 fees are built into the spreads. Generally, the broker’s spreads for forex and ETFs are on the lower side. On the other hand, spreads on indices, commodities, stocks, and cryptocurrencies are slightly higher.

Both deposits and withdrawals on Plus500 are fast and easy. The broker offers a number of options for deposits: credit/debit card, ApplePay, and PayPal, bank transfers. With Plus500 traders can conduct their trading on the brokers’ proprietary platform. The platform is quite clear and user-friendly. 

Best Forex Broker for Beginners in Romania

We picked XM as the best forex broker Romania for beginners.

XM is a Forex and CFDs broker that offers traders favorable conditions for trading. The broker holds licenses in Australia, the United Kingdom, Cyprus, UAE, Belize. With XM a variety of tradable instruments are available: forex pairs, indices, stocks, and commodities.

XM has many benefits and advantages as a broker. One of them is its excellent education. We have picked XM as the best forex broker Romania for its favorable offerings in this respect. The broker offers Tradepedia videos that provide high-quality and prompt instructions for beginners all over the world. Besides, traders can join the broker’s weekly webinars available in different languages.

Best MT4 Forex Broker in Romania

We picked ThinkMarkets as the best MT4 forex broker Romania.

ThinkMarkets was founded in 2010. It is a forex and CFDs broker based in Australia. The broker holds licenses in Australia, the United Kingdom, South Africa, and Seychelles. ThinkMarkets offers a number of instruments in different categories: forex, indices, commodities, cryptocurrencies, and shares CFDs.

The broker offers attractive spreads in almost all categories. Generally, the spreads are below the industry benchmark. The broker has two main account types: Standard and ThinkZero. 

We have chosen Think Markets as the best MT4 forex broker Romania, as the broker enables traders to conduct their trades both on MT4, and MT5 platforms. Also, the broker has its proprietary market. However, the MT4 platform is rather favorable for trades, including the best tools and features. 

Lowest Spread Forex Broker for Romania

We picked eToro as the best low-spread forex broker Romania.

Founded in 2006, eToro is headquartered in Tel Aviv, Israel. The broker is licensed in several jurisdictions: the UK, USA, Australia, and Cyprus. With eToro traders can conduct their trading in multiple markets: forex, indices, commodities, stocks, ETFs, and cryptocurrencies.

For real stocks, eToro offers commission-free trading.  However, for CFDs, the commission is included in spreads. Based on our tests, we have picked eToro as the best low-spread forex broker Romania. This is due to the fact that eToro’s spreads proved to be lower than the industry average in almost all the markets. Only for cryptocurrencies, the spreads are slightly on the higher side.

Top Forex Brokers Romania List

Besides the best forex brokers provided above, here is an extended list of the forex brokers Romania.

Forex Broker RomaniaAbout Our TestOur Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
Plus500Deposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
INFINOXDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
DarwinexDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades

FAQ and More on Forex Trading in Romania

There are many questions that may interest Romanian traders. We tried to choose and answer some of the most essential queries related to the forex brokers Romania.

How to Verify Romania Regulated Broker?

Taking into consideration that Romania is an EU member, almost all the European brokers are available for trades. To verify a forex broker Romania, traders should first check whether it falls under the ESMA regulation. This information can easily be confirmed on the ESMA website. However, to be completely safe, it is also advisable to look for the information on the broker’s website. Generally, brokers list the available countries for forex trading and the countries with restrictions to trade.

Make sure, that the forex broker Romania is properly licensed by a trustworthy regulator, as in forex trading money safety goes first. It is advisable to avoid offshore brokers, no matter how attractive their offerings may seem.

Forex brokers Romania

Forex Brokers with Demo Accounts

Forex demo accounts are a great way to learn how trading works and practice on different platforms. They are also good for experienced traders who want an environment where they can test strategies without risking any real money.

Based on our tests, we have come up with some of the forex brokers Romania with the best demo accounts:

  • Pepperstone
  • Plus500
  • AxiTrader

Cent Forex Brokers Romania

Cent forex accounts calculate and maintain balance in the lowest fungible form of a currency.  They are commonly used by beginner traders, however, professional traders also prefer using them when testing new strategies.

Based on our data, we picked XM as one of the best forex brokers Romania with a cent account.

Top Forex Brokers with High Leverage

Generally, in the country, there are some restrictions on the maximum leverage forex brokers Romania can offer when trading CFDs. For major currency pairs, the leverage is limited to 30:1. However, for minor forex pairs, such as gold, the leverage is limited to 20:1, for commodity CFDs it is 10:1. 

Tax in Romania for Forex Trading

The tax system in Romania is based on worldwide income and not just domestically sourced ones. This means that residents are responsible to pay taxes even if those earnings come about through services performed entirely outside of the borders. However, non-residents pay taxes only for the income gained from Romanian sources. The tax rate at present is 10%.

Traders are recommended to keep track of regulations and be aware of their tax responsibilities. Tax avoidance or delay in paying can result in fines and unnecessary complications.

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Best Forex Signals Providers 2022

For this list, we have searched and tested several trading signal providers available on Forex market.

In our research, we selected the best free and paid trading signal providers in 2022. We have also researched Forex signal providers across South Africa, Australia and The UK.

What Are Forex Signals?

Forex Signals are indicators or combinations of factors that may suggest entering a trade on a currency pair, usually at a specific price and time. The signals are generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service and might be sent as online platforms notifications, push notifications, email notification etc. for either manual or automatic execution, based on the preferences trader chooses.

By using trading signals, it becomes possible to enhance the results of the trades, since traders get to know when to enter or exit trading positions based on observations like price action or volume, avoiding emotional decisions.

The majority of Forex brokers offer Trading Signals either as push notifications or as alert systems inbuilt into the platform. However, most often only simple trading signals or available popular trading tools are available free of charge and others might be available for a fee on a marketplace.

Most of Forex Signals are based on popular Technical Analysis Tools and Price Action:

Trading SignalsTools
Based on Technical Analysis Tools📊 Moving Average (MA)
📈 Bollinger Bands
📉 Average True Range (ATR)
📰 Moving average convergence/divergence or MACD
📍 Fibonacci
💻 Relative Strength Index (RSI)
📱 Pivot Point
Based on Price Action 📈 Price Chart
📉 Charting Tools

What Makes Good Forex Signal Provider?

Good Forex signal provider should be a reliable source first of all. However, we recommend checking carefully whether the trading signal provider is a reliable source and better to test strategies before applying it for live trading.

  • There are various signals available for trading purposes, some are inbuilt into the brokers’ trading platform, while the majority are offered by providers.
  • This can include Market leaders and platforms like ZuluTrade or Social Trading, or some individuals or companies may create their own patterns and systems for signal providing which can be free or paid signals.
  • Trading signals available via groups, Telegram Signal Channels, WhatsApp, email, etc. should be treated very carefully since most of the individual falls to none of the regulations so you won’t be able to recover money, and risks are very high.

Trading signal providers typically charge a subscription fee for their service. There are also some trading signal providers offering a free trial period. Trading signal providers can be useful for both beginners and experienced traders: new traders can use signals to learn about the market, while experienced traders can use trading signals to confirm their own analysis or to help them find new trading opportunities.

It is important to remember that trading signals should not be the only source of information used when making trading decisions. Other factors such as fundamental analysis and technical analysis should also be considered.

Best Free Forex Signal Providers

Forex trading signals are essential for beginning traders, so it is important to consider both brokers with Trading Signals and Free Trading Signal Providers offering Signal Services.

A broker with trading signals or any trading signal provider might be a better option for beginners as it is a one-go place where traders can find education, support materials, and signals, suitable for beginners’ trading platforms.

To pick the best free trading signal providers, we searched and tested several signal providers on market that have free signals, in most cases they are either simple or based on social trading.

Here is the list of the best Free Trading Signal providers:

  • PipChasers – Best Free Forex Signal Provider Overall
  • WeTalkTrade – Best Free Forex Signal App
  • Bull Signals – Best Free Daily Forex Signals
  • Learn2Trade – Best Free Forex Signals Service
  • eToro – Best Free Copy Trading Signals

Top Free Forex Signals Providers

There are a variety of different trading signals available to traders, and it is important to choose trading signal providers that offer the right mix of features and complexity for your needs.

We recommend using only reliable trading signal providers or brokers for signals, as this will help ensure that you receive accurate and timely information. With the right trading signal providers, you can help maximise your potential investment success.

Here we selected a few of the Top Free trading signal providers, including some Brokers with good signals:

Forex Signal ProvidersFeesTrading Signals
PipChasersFreeOffering between 5 and 9 signals each week
WeTalkTradeFree lifetime access2000+ profit pips every month
Bull SignalsFreeDaily trading Forex signals
Learn2TradeFree or Premium at £35/monthTelegram signals app
Algo SignalsFree, but need to deposit $250 into a partnered broker1-6 signals a week or less
FXLeadersFree service but not entry price90-100 free forex signals per month
Forex Signal FactoryFreeTelegram signals app
eToroFreeDaily tips (top trades and posts)

Best Paid Forex Signals Providers

There are a lot of trading signal providers out there, and sometimes it can be hard to know which ones to trust. That’s why we have compiled a list of some of the best-paid trading signal providers. Each of these trading signal providers has a proven track record of success, and they offer a variety of different services that can suit the needs of any trader.

As a result of our research, we picked 1000pip Builder as the Best Paid Forex Signal Provider Overall. 1000pip Builder is founded by Bob James who worked for one of the leading financial services institutions in London and has over 10 years of experience as a skilled Forex trader and mentor.

1000pip Builder offers expert advice directly from a professional trader. Designed to offer additional insight to traders who want to improve their profits, this platform offers signals and guidelines directly to your inbox to improve your trading and reduce any losses in the process.

Here is the list of the Top Paid Forex Signals Providers that we have tested and reviewed:

Forex Signal ProvidersFeesTrading Signals based on
1000pip BuilderA month/$97, 3 month/$227, 12 month/$397Price Action/ Technical Analysis
Zero to Hero FX Signals$95/month, $195/3 month, $295/6 month, $395/12 month Price Action/ Technical Analysis
Bull Bear ForexBasic/€10 per month, Standard/€50 per month, Advanced/€100 per month, Professional/€150 per month, Elite/€200 per month, Ultimate/€250 per monthPrice Action/ Technical Analysis
Profit Forex SignalsProfessional 2000/$99 per month, Ultimate 5000/$249 per month, Pearl 9000/$499 per month, Premium FX Account Money Management/$999 per monthPrice Action/ Technical Analysis
MQL5$30/month on averagePrice Action/ Technical Analysis
ForexSignals.com €52/per month, €31/6 months, €20/12 monthsPrice Action/ Technical Analysis
Learn2TradeStart costs $25/per month, automated service costs $150/per monthPrice Action/ Technical Analysis
FXPremiere.comBasic FX Signals $37/monthly, Standard FX Signals $97/4 Months, Premium FX Signals $199/12 Months, LifeTime Forex + Gold/Oil Signals/$500Price Action/ Technical Analysis

FAQ and More on Forex Trading Signals Providers

Usually, there are many Forex trading signals-related questions traders have either about providers or which one is the best for the practice. Here we answer some of the common questions related to Trading Signals.

Forex Signals Providers in South Africa

There are a number of trading signal providers in South Africa, each offering its own unique services. Some of the most popular providers include 24 Forex, AvaTrade, Johannesburg Forex Signals, etc. Each of these trading signal providers offers a different set of features and services, so it’s important to choose one that meets your specific needs.

When choosing a trading signal provider, it’s important to consider the quality of the signals they provide. A good provider will offer signals that are accurate and timely, giving you the information you need to make successful trades.

Forex Signals Providers in Australia

There are many trading signal providers in Australia that can help you make better forex trading decisions. These providers offer a variety of services, including real-time alerts, trading recommendations, and automated trading systems.

It’s important to select a provider that has a good reputation and meets your trading needs. In Australia, you can find some Forex brokers that offer access to the best signals providers. Among them are Pepperstone, IC Markets, FP Markets, etc.

Forex Signals in UK

Forex trading signal providers in the UK can offer you a range of different services. Before choosing a provider, it is important to do your research and make sure that they are reputable and have a good track record. There are a few factors to consider when selecting a trading signal provider, such as the types of signals they offer, the frequency of the signals, and the accuracy of the signals. It is also important to choose a provider that offers a money-back guarantee in case you are not satisfied with their service.

Among some UK-based reputable forex signal providers are Learn2Trade, IG Group, Daily Forex Signals, etc.

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Best NDD Forex Brokers 2022

For this review, we have tested several NDD forex brokers.

We opened real accounts and deposited between $4000 – $8000 with each broker. We placed real trades in each popular market to get the full image of spreads. We also contacted the customer support to resolve the issues we had encountered. Eventually, we withdrew our funds to see if there’s any issue with the withdrawal process.

We have picked the best NDD forex brokers based on our knowledge and experience as a trader.

What is NDD in Forex?

In the forex market, Non-Dealing Desk or NDD means a form of trade execution where forex brokers play the part of the mediator between the trader and the interbank market meaning that the trader directly deals with several liquidity providers at the same time to get the best bid and ask prices, while broker mainly acting as an execution venue. Read about NDD on NASDAQ.

In contrast to Non-Dealing Desk providers, Dealing Desk providers, also known as market makers, control the bid and ask prices since creating the offering of buy and sell positions themselves while using quotes Market Maker gain from either institution, National Banks or larger liquidity providers or also can act as liquidity providers themselves. Read more about Market Making Brokers here.

Different trading execution forms don’t make brokers better or worse, it’s just different ways of trading, and your choice should depend on the trading strategy you take and the instruments used.

Best Non Dealing Desk Forex Brokers

To compose this list, we have reviewed and tested several NDD forex brokers by opening real accounts and depositing real money with each broker. Also, we placed live trades in each market to get the full image of the spreads, commissions, trading platforms, deposit and withdrawal conditions, education as well as customer support.

  • FP Markets – Overall best NDD forex broker
  • IC Markets – Best NDD forex broker for beginners
  • Tickmill – Best MT4 NDD forex broker
  • Pepperstone – Best NDD Broker with the lowest spreads

All brokers must be licensed and authorized by trustworthy regulators. Make sure that the broker is well-regulated with the applicable law across all jurisdictions.

Overall Best Non-Dealing Desk Forex Broker

We have picked Trading 212 as the best Non-Dealing-Desk forex broker.

Trading 212 was founded in 2004 in London UK. The broker holds several licenses from industry-leading regulatory entities such as FCA. The broker offers trading opportunities with indices, forex, commodities, stocks, cryptocurrencies.

Great trading conditions and excellent educational materials, also relatively low spreads make Trading 212 the best overall NDD forex broker.

Best NDD Broker for Beginners

We have chosen IC Markets as the best NDD forex broker for beginners.

Founded in 2007 in Australia, IC Markets is a global CFD provider offering the ECN pricing model. The broker offers trading options with forex pairs, indices, stocks, commodities and cryptocurrencies.

The broker provides excellent educational materials for traders of all levels to hone their trading skills. The educational materials include different in-depth articles, video guides, webinars, etc., which makes it the best fit for newbies.

Best MT4 NDD Broker

We have chosen XTB as the best NDD forex broker offering the MT4 platform.

Founded in 2002, XTB is a global forex and CFD broker with dual headquarters in London and Warsaw and holds several top-tier licenses from industry-leading regulatory entities. The broker offers good trading conditions with forex, indices, stocks, commodities, ETFs, cryptocurrencies.

XTB offers the best trading conditions for MT4 traders. MT4 platform operates on the web, desktop, and mobile.

Best NDD Broker with Lowest Spread

We have picked Pepperstone as the best NDD forex broker with the lowest spreads.

Founded in 2010, Pepperstone is a forex and CFD broker headquartered in Australia. The broker is well-regulated by world-class regulators. The Broker offers trading with forex pairs, indices, stocks, commodities, cryptocurrencies and a currency index.

Pepperstone is a Non-Dealing Desk broker offering straight-through processing. The broker has one of the lowest spreads charged on most market instruments which makes it the best offer for traders preferring low spreads.

No Dealing Desk Brokers List

Apart from the list of best NDD Forex Brokers, here is the list of highly reliable NDD forex brokers that we have tested:

Forex BrokerTest DetailsBroker Review
TickmillDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
BlackBull MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
BlackBull Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review

FAQ and More on No Dealing Desk Forex Brokers

Traders often raise trading-related questions. We tried to find answers to most frequently asked questions related to NDD forex brokers.

ECN STP NDD Forex Brokers

All brokers fall under two main categories – DD and NDD. In contrast to DD, NDD forex brokers use technologies to route trade orders directly to liquidity providers creating a bridge between clients and providers. There are no requotes on orders when trading with an NDD forex broker. There are two types of NDD forex brokers, you can also come across the combination of these two execution models.:

  • Straight-through Processing (STP)
  • Electronic Communication Networks (ECN).

STP is an execution model where brokers send clients’ orders directly to the liquidity providers like hedge funds, large banks, counterparty investors, etc. with no external intervention. So the liquidity provider becomes a broker of the brokers and takes the other side of your trade. The fact that traders have full access to the real market and the ability to execute the orders instantly without interference from the broker makes the system extremely appealing to the traders. Read more about STP on Wikipedia.

In ECN, brokers rely on a system that matches buy and sell automatically. The traders’ orders are routed to a liquidity network of multiple brokers and banks. The other side of your trade can be taken by any other party connected to the same network. Find out more about ECN on Wikipedia. There’s also the hybrid type of STP+ECN that offers the best features of both execution models.

Best US Regulated Forex Brokers NDD

In order to operate in the US, NDD forex brokers have to be regulated and authorised by the Commodity Futures Trading Commission (CFTCand be a member of the National Futures Association (NFA) to legally operate in the United States.

Here’s a list of US forex brokers with NDD:

  • Interactive Brokers
  • IG
  • TradeStation

Best Forex Broker for Scalping NDD

Scalping is a trading strategy where traders profit from small price changes by opening and closing trades within a short period of time. For more info read our article on Scalping.

Here are some of the NDD forex brokers allowing scalping:

  • Pepperstone
  • Dukascopy
  • Axi

It should be noted that scalping is often associated with high risks hence there are a number of well-regulated brokers that do not allow scalping:

  • eToro
  • Trading 212
  • Plus500
  • GKFX
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Best Forex Brokers Moldova 2022

To come up with this list, we have tested forex brokers Moldova.

After opening a real account and depositing between $4,000 to 6K with each broker we placed trades in every popular market for an accurate picture.

We also contacted customer support to solve issues that we had encountered. To check the withdrawal process we withdrew our funds.

We handpicked the best forex brokers Moldova based on our trading data and experience as a trader.

Is Forex Trading available in Moldova?

Moldova is located in Eastern Europe, while Moldova’s economy declined significantly after the breakup of the USSR in 1991, with its attempt to save the economy, Moldova took multiple actions. It introduced a convertible currency, removed export controls, and also, attempted to liberalize interest rates. To ensure economic growth, the government entered into agreements with World Bank, International Monetary Fund.

As to forex trading in Moldova, it is available in the country and is even growing in its popularity.

Forex trading in Moldova is regulated by the National Bank of Moldova. It is a public legal entity and is responsible to the Parliament. The bank has one primary objective which is to ensure and maintain price stability in the country. The NBM is committed to providing the most up-to-date, accurate information on financial market evolution, balance of payments, and the foreign exchange market.

The National Bank of Moldova’s website is www.bnm.md.

🏦RegulatorThe National Bank of Moldova
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeNo

Best Forex Brokers in Moldova

Finding a reliable forex broker is one of the most important decisions to make. When choosing a forex broker Moldova, there are a number of important aspects to pay attention to.

In Moldova, there are brokers based in the country, that fall under the local regulation. There are also brokers that accept traders from the country. Traders should be very careful in picking a broker. It is advisable to stay away from offshore brokers, no matter how attractive their offerings seem. 

Nowadays, that the market is full of fraud, it is essential to sign with a reputable and heavily regulated forex broker Moldova, as money safety in forex trading goes first. Check that the broker’s accounts are supported by the main payment methods. It is also advisabe to pay attention to customer support and whether it is available in your preferred language. 

To select the best forex brokers Moldova, we have tested and reviewed various brokers.

Based on our tests, we recommend trading with the following brokers that we have selected as the best forex brokers Moldova:

  • IC Markets
  • Vantage FX 
  • FP markets
  • CMC Markets

Best Forex CFD Broker Moldova Overall

We picked CMC Markets as the overall best forex broker Moldova.  

CMC Markets offers financial trading services with CFDs and spread betting. The brokerage was founded in 1989. The broker is regulated in the United Kingdom, Germany, Australia, Singapore, New Zealand, Canada, and the United Arab Emirates. It offers trading instruments in the following categories: forex, indices, stocks, commodities, and cryptocurrencies.

CMC Markets offers good trading conditions. It allows both hedging and scalping strategies. With the broker traders can choose from different options of account types based on their preferences: Spread betting account, CFD account, and Professional account.

The broker supports multiple payment methods: bank transfers, credit and debit cards, and PayPal. CMC Markets offer the traders two main trading platforms: the Next Generation platform, which is their Proprietary platform, and the popular MT4 platform.

Best Forex Brokers for Beginners in Moldova

We picked FP Markets as the best forex broker Moldova for beginners.

FP Markets is an Australia-headquartered forex broker. It was founded in 2005. The broker offers a wide range of trading instruments with forex, stocks, indices, commodities, and cryptocurrencies. FP Markets holds licenses in multiple jurisdictions: the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines.

The broker offers its clients MT4, MT5, and IRESS platforms. FP Markets accounts are based on their trading platforms. 

We have selected FP Markets as the best forex broker Moldova for beginners, as its educational section is rather good and designed especially for beginner traders. The section includes webinars, video tutorials, ebooks, a glossary, and a newsletter with thorough market data.

Best MetaTrader 5 Forex Broker Moldova

We have picked IC Markets as the best MT5 forex broker Moldova.

IC Markets was founded in 2007. It is a Forex and CFDs broker located in Australia. The broker is heavily licensed in Australia, Cyprus, Seychelles, and The Bahamas. With the broker, clients have access to hundreds of instruments in multiple categories: Forex pairs, indices, stocks, commodities, and cryptocurrencies. IC Markets offers 4 account types: the standard account, cTrader raw spread account, the raw spread account, and the Islamic account.

We have chosen IC Markets as the best MT5 forex broker Moldova, as its MT5 platform is rather favorable for successful and profitable trading. The platform is modern with all the necessary features and conditions. 

Best Zero Spread Forex Broker in Moldova

We picked Vantage FX as the best zero-spread forex broker Moldova.

Founded in 2009, Vantage FX is a forex and CFDs broker. The broker is headquartered in Sydney, Australia.Vantage FX is heavily regulated in the United Kingdom, Australia, Vanuatu, and The Cayman Islands. It offers trading instruments in the following categories: forex, indices, commodities, cryptocurrencies, and shares CFDs

Vantage FX fees depend on the account type. The broker offers Raw ECN, Standard STP, and Pro ECN account types.  Its fees are built into spreads for the Standard STP account. For Raw and Pro ECN accounts, the broker charges commission along with zero spreads or low spreads. According to our test, the broker’s forex spreads are much lower than the industry average. Spreads on commodities are also on the lower side.

Moldova Top Forex Brokers List

Finding a forex broker Moldova is a little difficult. However, we have tested many brokers and have come up with a list of reliable forex brokers Moldova.

Forex Broker MoldovaAbout Our TestOur Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
AXI (AxiTrader)Deposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Vantage FXDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
ICM CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
Capital.comDeposit Amount: Over €3,500
Total Trade: 15 trades
Capital.com Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
TickmillDeposit Amount: Over €8,000
Total Trade: 12 trades
Tickmill Review

FAQ and More on Forex Trading in Moldova

Moldova traders often have a lot of questions about forex trading in the country. We tried to choose and answer some of the most essential queries related to the forex brokers Moldova.

How to Verify Moldova Regulated Broker?

In the country, the National Bank of Moldova regulates forex trading. One of the first and most important things that traders need to do before starting trading is to find a well-regulated and trustworthy forex broker Moldova. Perhaps, traders will have to conduct their own small research to find the right broker favorable for their needs.

One of the first steps when starting with forex is to check with the regulatory body whether the broker is available in your county. Also, another option is to visit the broker’s official website and check the information there. All the brokers mention the available and restricted countries on their websites. 

Forex brokers Moldova

Best Offshore Forex Broker

Generally, there is no best offshore broker. If the trader wants to open an account with an offshore broker, it is better to use a reputable brand with multiple regulations. Also, it is important to open a trading account with an international entity-based offshore broker. 

Moldova Forex Broker Promotions

There are a number of Forex brokers Moldova that offer different promotions. Mostly, brokers offer bonuses on the initial deposit, which can be a great help in getting started with trading. However, it is important to read the terms and conditions carefully before choosing a broker and accepting any promotions.

Based on our experience and tests, we have chosen two forex brokers Moldova with promotions:

  • XM
  • Tickmill

Tax in Moldova for Forex Trading

If you are a trader in Moldova, it is important that your profits are taxed accordingly. Once they reach the level where tax must be paid on Forex trading, then traders should make sure all taxes owed for one financial year have been filed to authorities.

It is important for traders to be aware of their responsibilities when it comes to tax issues. Any avoidance or delay in paying could lead them to complications and fines. Thus, it is always recommended to keep up with all the regulations.

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Best Cryptocurrency Brokers 2022

For this Best Cryptocurrency Brokers review, we have reviewed and tested several cryptocurrency brokers.

We opened real accounts and deposited between $4,000 – $8000 with each of the brokers. For our tests, we placed trades in popular markets to get an idea of how things work for clients. We also reached out to customer support in order to solve some issues we had been experiencing. finally, we withdrew our funds to see if there is any issues with the withdrawal process itself.

We have chosen the best cryptocurrency brokers based on our knowledge and experience as a trader.

Regulated Cryptocurrency Brokers

Cryptocurrency, also known as crypto, is digital money based on blockchain – a distributed public database. Currency transactions are carried out securely through cryptography. The distinctive feature of cryptocurrencies is that they are not issued by any regulatory authority like Central Banks; instead, they operate on a decentralized system to record transactions, thus sparing them from governmental interference and control.

Cryptocurrency units are created through a process called mining. The process itself involves solving different mathematical puzzles that generate coins. Some of the most popular cryptocurrencies are Bitcoin and Ethereum. Read more about Cryptocurrency on Wikipedia.

  • Cryptocurrencies are usually traded on the crypto exchange where traders buy or sell tokens which means that they own the asset.
  • Whereas forex brokers offer traders CFD crypto trading which is nothing but a speculation on the price movement meaning that the traders do not own the assets.
  • Crypto CFDs are traded over-the-counter (OTC) by a network of OTC cryptocurrency brokers that organize the market demand and make prices respectively. Read our article about OTC forex brokers

Forex Brokers that Trade Cryptocurrency on Weekends

The financial market doesn’t operate on weekends, however, trading on cryptos is the only trading option available on a 24/7 basis.

Based on experience and data collected, here is the list of some brokers offering crypto CFD trading on weekends:

  • Eightcap
  • IG Markets
  • eToro
  • Pepperstone
  • Trading 212

Best Cryptocurrency CFD Brokers

To come up with this list, we reviewed and tested several cryptocurrency brokers. We opened live accounts and deposited real money with each broker, also place real trades in popular market instruments to get the full picture of spreads, commissions, trading platforms, deposit and withdrawal conditions, education as well as customer support.

The majority of forex brokers offer crypto trading on CFDs

  • Eightcap – Best Overall Cryptocurrency Broker
  • IG Markets – Best Crypto Broker for Beginners
  • OANDA – Best Crypto MT4 Platform
  • IC Markets – Best MT5 Crypto Broker

All Traders need to make sure that they are opening accounts under a reliable regulator. Your broker must be licensed and regulated with the applicable law across all jurisdictions.

Best Online Brokers for Cryptocurrency Overall

We have chosen Eightcap as the best overall crypto broker.

Eightcap is a forex broker established in 2009 with its headquarters in Australia. The broker offers a wide range of trading instruments with forex, indices, commodities, cryptocurrencies, spot metals, and stocks.

Excellent trading conditions and in-depth educational materials make it the best overall crypto broker.

Best Crypto Broker for Beginners

We have picked IG Markets as the best cryptocurrency broker for beginners.

IG Group was founded in 1973, in the UK. The broker is licensed by top-tier regulators offering trading opportunities with forex, indices, commodities, shares, cryptocurrencies, etc.

IG Group is rich with its comprehensive educational materials allowing traders of all levels to hone their trading skills. The broker also allows traders to open a demo account before making real deposits which might come in handy for beginners to learn trading before risking their money.

Best Cryptocurrency MT4 Brokers

We have selected OANDA as the best crypto broker with MT4 offering the MT4 platform.

OANDA was founded in 1996, in New York and holds licenses from the world-leading regulators across the globe. The broker allows CFDs and forex trading with currency pairs, commodities, indices, stocks, bonds, metals, futures, and cryptocurrencies.

OANDA offers its consumers the MT4 platform to trade with, industry-leading platforms developed by MetaQuotes Software. OANDA allows CFD trading with 4 major cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, and Litcoin – with a minimum deposit and margin of 10%. The MT4 platform is fully customizable and available on the web, desktop, and mobile platforms.

Best Metatrader 5 Cryptocurrency Brokers

We have picked Pepperstone as the best MT5 Crypto broker.

Pepperstone was founded in 2010 with its headquarters in Melbourne, Australia. Pepperstone offers tradable instruments in the following categories – forex pairs, indices, stocks, commodities, cryptocurrencies, and a currency index.

Pepperstone offers crypto CFD trading with a wide range of currencies on the MT5 platform with relatively low deposits making it the best MT5 cryptocurrency broker.

Top 10 Cryptocurrency Brokers List

Apart from the above-mentioned shortlist of cryptocurrency brokers, here is a Top 10 list of well-regulated and highly reliable brokers offering crypto trading.

Forex BrokerTest DetailsBroker Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
eToroDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
PepperstoneDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
Trading 212Deposit Amount: Over €5,000
Total Trade: 15 trades
Trading 212 Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
OANDAOANDA Website
IG GroupIG Website

FAQ and More on Global Cryptocurrency Brokers

Usually, traders have a lot of questions related to trading. In this article, we have covered some of the most frequently asked questions on cryptocurrency trading.

Best Cryptocurrency Brokers UK

There isn’t any broker offering cryptocurrencies trading in the UK since the speculations on price movements and crypto trading are forbidden since 2021.

Cryptocurrency Brokers Australia

All Australian Cryptocurrency Brokers must be authorized and licensed by the Australian Securities & Investment Commission (ASIC) to operate in Australia.

Based on our collected data and experience as a trader we have chosen these brokers as the best cryptocurrency brokers in Australia:

Cryptocurrency Brokers Canada

To legally operate in Canada cryptocurrency brokers must be authorized by the Investment Industry Regulatory Organization of Canada (IIROC).

Some of the best cryptocurrency brokers operating in Canada are:

  • Eightcap
  • CMC Markets
  • AvaTrade
  • Interactive Brokers

Best Cryptocurrency Brokers USA

To legally operate in the USA, all regulated cryptocurrency brokers must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA) to legally operate in the United States. 

  • Forex.com
  • eToro

Forex.com is the best choice for brokers preferring crypto CFD trading since this broker offers one of the best conditions for traders, whereas eToro is the best suit for crypto exchange.

eToro exchange platform offers a wide range of cryptocurrencies, you can buy eToro crypto directly from your eToro wallet. The broker offers in-depth educational materials on the eToro cryptocurrency exchange.

Cryptocurrency Brokers in Nigeria

To legally operate in Nigeria, cryptocurrency brokers must be authorized by the Central Bank of Nigeria (CBN) to operate in Nigeria. 

Here’s the list of some of the best cryptocurrency brokers operating in Nigeria:

  • FXTM
  • IC Markets

Best Cryptocurrency Brokers in India

Most cryptocurrency brokers are registered under the Securities and Exchange Board of India (SEBI).

Here’s the list of cryptocurrency brokers operating in India:

  • IG Market
  • Interactive Brokers

Best Cryptocurrency Brokers South Africa

To ensure the safety and security of clients’ funds, all Forex brokers must be registered with the Financial Sector Conduct Authority (FSCA), formerly known as the Financial Services Board (FSB).

Some of the forex brokers allowing cryptocurrency trading are:

  • IG
  • FXTM
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Uncategorized

Fortrade Review 2022

For this Fortrade review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 12 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is Fortrade?

Fortrade is a London-headquartered forex and CFD (contracts for difference) broker brand and was established in 2013.

The broker carries multiple licenses from regulators in the United Kingdom, Cyprus, Australia, Canada, and Belarus, and has operations globally.

Fortrade’s offerings include forex, indices, commodities, stocks and cryptocurrency CFDs.

Some of the highlights of Fortrade are:

🗺️ Authorised & Regulated inUK, Cyprus, Belarus, Australia, Canada
🛡️ Is Fortrade safeYes
💰 EUR/USD Spread1.83
💳 Minimum deposit€100
💰 Withdrawal fee0
🖥️ Trading PlatformMT4, Fortrade Platform
📈 Markets offeredForex, Indices, Stocks, Commodities, ETFs, US Treasuries, Cryptocurrenies
📉 Number of Products303 (depends on the jurisdiction)

Fortradee.com Review Licenses and Regulations

Fortrade holds licenses from regulators in 5 countries.

The broker is regulated in United Kingdom, Cyprus, Australia, Canada, and Belarus. The UK’s FCA, Australia’s ASIC, and Canada’s IIROC are deemed as top global financial regulators.

The full list of Fortrade licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
Fortrade LtdUnited KingdomFinancial Conduct Authority (FCA)609970United Kingdom£85,000
Fortrade Cyprus LtdCyprusCyprus Securities and Exchange Commission (CySEC)385/20European Union€20,000
Fort Securities Australia Pty LtdAustraliaAustralian Securities and Investments Commission (ASIC)493520AustraliaNo compensation scheme
Fortrade Canada LimitedCanadaInvestment Industry Regulatory Organization of Canada (IIROC)BC1148613CanadaNo compensation scheme
LLC “Fort Securities BLR”BelarusNational Bank of the Republic of Belarus (NBRB)193075810GlobalNo compensation scheme
Fortrade ASIC (Australian Securities and Investments Commission) Registration
Fortrade ASIC Registration

Is Fortrade Safe?

Yes, Fortrade is a safe broker for trading.

The broker is well-regulated with a total of 5 licenses. Additionally, the clients under the FCA and CySEC also receive a compensation scheme of £85,000 and €20,000, respectively, for the protection of their funds.

For our tests, we opened an account with Fortrade Cyprus Ltd which is regulated by Cyprus Securities and Exchange Commission (CySEC) in Cyprus.

Fees and Commissions

Trading fees on Fortrade are built into spreads.

Spreads on all of our trades were higher than the industry average benchmark.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Spreads for our trades in all asset classes remained stable with minor variations.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.5221.83
IndicesFTSE 1002.12.42.32.27
StocksApple2.62.62.62.6
CommoditiesGold4.54.54.54.5

Our testing finds that Fortrade spreads on forex, indices, stocks, and commodities CFDs are higher than the industry average.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.831.16
IndicesFTSE 1002.271.65
StocksApple2.61.75
CommoditiesGold4.53.53

Other Fees

Fortrade does not charge any deposit and withdrawal fees.

The broker also charges a $10 monthly inactivity fee after a dormancy period of180 days. There is no maintenance fee.

Account Types

Fortrade offers only one account type.

Fortrade Account
Trading PlatformsMetaTrader 4, Fortrade Platform
Account CurrencyUSD, GBP, EUR, TRY
Minimum deposit€100
CommissionNone
Order executionInstant Execution
SpreadFrom 0.02

Fortrade also offers a swap-free Islamic account.

Account Opening

Our overall experience of opening a new account with Fortrade was smooth and fast.

We opened a Fortrade Account for our tests under the Cyprus-regulated entity.

The process of registration of a new Fortrade account:

  1. Enter first name, last name, email, and mobile number on the initial registration page.
  2. Enter the country of residence, account currency, password, date of birth, and address.
  3. Provide details like country of citizenship, place of birth, employment status, the reason for trading, annual income, source of funds, and a few other fields.
  4. Answer a quick questionnaire on trading knowledge and experience.

We submitted the following documents to verify our Fortrade account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 6 minutesOur account was verified on the same day, in fact, it was done in 10 minutes.

Our account was registered on April 9, 2022, and approved on the same day.

Our overall account opening experience was smooth and without any issues from registration to verification.

Fortrade Account Opening
Fortrade Account Opening Page

Deposit and Withdrawal

Deposits on Fortrade are easy and fast, but withdrawal requests took more time than usual to complete.

The broker does not charge any fees for most of the deposit and withdrawal methods, with only the exception of wire transfers.

Minimum Deposit

Fortrade requires a minimum deposit of €100 or equivalent in other base currencies.

Traders only need to maintain the minimum deposit balance on their accounts.

Deposit

Fortrade supports deposits with bank transfers, credit and debit cards, and popular e-wallets like Neteller, and Skrill.

We tested the deposit process on Fortrade using a credit card, Neteller, and Skrill.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2022-04-142022-04-148 hours0
Skrill2022-04-142022-04-144 hours0
Neteller2022-04-142022-04-144 hours0

Fortrade required a transaction confirmation from our side when you made the deposit using Skrill.

PayPal funding option wasn’t available as the broker don’t provide a “continue” button to proceed with the transaction.

Fortrade Deposit Methods
Fortrade Deposit Page

Withdrawal

Fortrade allows withdrawals with bank transfers, credit and debit cards, and online wallets like Neteller and Skrill, same as deposits.

Overall, our experience with the Fortrade withdrawal process was okay, but the process took longer than usual.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2022-04-142022-04-202022-04-216 working day0
Neteller2022-04-142022-04-202022-04-205 working day0
Skrill2022-04-142022-04-202022-04-205 working day0

For withdrawals, we requested €3,000 to credit card, €1,950 to Skrill, and €50 to Neteller. The broker, however, transferred €3,000 to credit card, €1020.78 to Skrill, and €900 to Neteller.

Markets and Products

Fortrade offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrency instruments.

The complete list of Fortrade offerings are:

MarketsInstruments
Forex54
Indices17
Stocks200
Commodities25
ETFs3
US Treasuries3
Cryptocurrencies4

The markets and the number of offered instruments will depend on the account jurisdiction.

Cryptocurrency CFDs are only available under the ASIC and CySEC-regulated entities.

Trading Conditions

Trading conditions on Fortrade are decent. The broker allows hedging and scalping strategies but traders cannot change leverage levels.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageNo

Changing of leverage on Fortrade depends on market conditions. Though it is closed now, it might be opened in the future.

Leverage

Leverages offered by the various entities of Fortrade are detailed below:

MarketsFortrade LtdFortrade Cyprus LtdFort Securities Australia Pty LtdFortrade Canada LimitedLLC “Fort Securities BLR”
Major Currency Pairs30:130:130:134.4:1100:1
Non-Major Currency Pairs20:120:120:134.4:1100:1
Gold20:120:120:138:1100:1
Other Commodities (except Gold)10:110:110:138:1100:1
Indices5:15:120:118:1100:1
Stocks5:15:15:16:15:1
CryptocurrenciesNA2:15:1NANA

Trading Platform

Fortrade offers trading services on its proprietary platform and also on industry-standard MetaTrader 4, which is developed by MetaQuotes Software.

Fortrade Trading Platform
Fortrade Trading Platform

We executed all our trades on the MetaTrader 4 trading platform.

Research and Tools

Fortrade offers decent market research and analysis tools.

Tools offered by the broker include:

  • Good charting tools
  • Economic calendar
  • Signals using Trading Central
  • Market analysis
Fortrade Market Analysis
Fortrade Market Analysis

Education

Fortrade offers excellent educational resources to beginner traders.

The broker’s educational materials only include:

  • Webinars
  • eBooks
  • Tutorial videos
  • Courses for both beginner and advanced traders
  • Glossary
  • Demo account
Fortrade Educational Material
Fortrade Educational Resource

Customer Service

Fortrade offers excellent customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available only on weekdays.

Our experience with Fortrade customer support was excellent.

The support staff on both live chat and email was prompt with the response and provided accurate and detailed answers.

QuestionResponse TimeQuality of reply
Live ChatAsked if Fortrade require any docs after the trader submitting a withdrawal request1 minuteClear and accurate
EmailAsked several questions about their trading account, spread, and commissions1 hourClear and very detailed

A Fortrade account service manager contacted us once our trading account was opened successfully. We asked several questions about Fortrade in general and questions about trading to the service manager.

The service of the account service manager is better than the broker’s Live Chat as the Live Chat support staff has limited access to customer accounts. When we asked some trading account questions to Fortrade Live Chat support staff, the team said they will ask our account service manager to contact us and answer our questions.

We recommend traders contact the account service manager rather than Live Chat.

Fortrade Customer Support
Fortrade Customer Support

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with Fortrade was positive.

The spreads charged by the broker are on the higher side, but the trade execution speed was fast.

Our account opening experience was smooth and the broker does not charge fees for deposits and withdrawals. However, we are a bit disappointed with the speed of the withdrawals.

The customer support was also excellent, especially the account service manager.

We recommend Fortrade to forex traders who run EA and other trading strategies.

We recommend Fortrade for traders who are

  • Experienced traders
  • Beginners
  • Run Scalping
  • Hedging
  • Trading through MT4

Tickmill might not be a fit if you are

  • Real Stock / Futures Trading
  • Commission based trading
  • Looking for advanced instrument range

Categories
Uncategorized

ICM Capital Review 2022

For this ICM Capital review, we opened a live account and deposited over €5,000.

We traded the popular instrument in each market to discover the actual spreads and placed 12 trades in total.

We reached out to the broker’s customer support team to resolve the challenges we faced.

Finally, we withdrew our funds to determine whether the withdrawal process was smooth.

What is ICM Capital

ICM Capital is a global Forex and CFDs broker established in 2009 with its headquarters in London, United Kingdom.

The broker is licensed in the United Kingdom, Cyprus, Malaysia, St Vincent and the Grenadines, and Mauritius.

ICM Capital offers over 140 tradable instruments in the Forex, indices, stocks and commodities categories, which is not much compared to the industry leaders.

Here’s a summary of ICM Capital’s main features:

🗺️ Authorised & Regulated inUK, Cyprus, Malaysia, St Vincent and the Grenadines, Mauritius
🛡️ Is ICM Capital safeYes
💰 EUR/USD Spread1.4
💳 Minimum depositUS$200
💰 Withdrawal fee$0 charges once per calendar month
🖥️ Trading PlatformMT4
📈 Markets offeredForex, Indices, Stocks, Commodities
📉 Number of Products149

Licenses and Regulations

ICM Capital is licensed by 5 global regulators, including the top-tier UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and Malaysia’s Labuan Financial Services Authority (LFSA).

The broker is also regulated in St Vincent and the Grenadines and by Mauritius Financial Services Commission (FSC).

Here’s a full list of the licenses held by ICM Capital’s subsidiaries:

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
ICM Capital LimitedUnited KingdomFinancial Conduct Authority (FCA)520965United Kingdom£85,000
ICM Capital EUCyprusCyprus Securities and Exchange Commission (CySEC)367/18EU€20,000
ICM Trader LtdMalaysiaLabuan Financial Services Authority (LFSA)MB/18/0029Globally many countriesNo compensation scheme
ICM Capital VCSt Vincent and the GrenadinesFinancial Services Authority (FSA)23683 IBC 2016Globally many countriesNo compensation scheme
ICM Capital (Mauritius) Limited MauritiusFinancial Services Commission (FSC)C118023357Globally many countriesNo compensation scheme
ICM Capital FCA (Financial Conduct Authority) Registration
ICM Capital FCA License

Is ICM Capital Safe

Yes, ICM Capital is safe to trade. The broker is the top-tier FCA (UK Financial Conduct Authority) regulated, which has strict rules and enforcement procedures.

The UK’s FCA guarantees investors’ deposit compensation of up to £85,000 if the broker goes bankrupt.

The broker is also licensed by the Cyprus Securities and Exchange Commission (CySEC), which offers deposit compensation of up to €20,000 to eligible clients if the broker becomes insolvent.

We had a smooth experience when trading with ICM Capital.

For this review, we opened an MT4 ICM Direct account with ICM Capital Limited, regulated by the UK’s Financial Conduct Authority (FCA).

We recommend that you open your account with the UK or Cyprus entity if either is available to you.

Fees and Commissions

ICM Capital charges low fees for trading the main assets on offer. The fees charged for trading Forex pairs, indices, stocks, and commodities were lower than industry averages.

None of the broker’s average fees for the instruments tested was above industry benchmarks, which was impressive.

Spread Charged in our Trades

For our tests, we traded the most popular instrument in each segment. We placed 3 trades per instrument to get an accurate estimate of the average spread. We tested the MT4 ICM Direct Account, which charges a spread on all instruments.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. Spread
ForexEUR/USD1.41.41.41.4
IndicesFTSE 1000.90.90.90.9
StocksApple0.6150.6150.620.62
CommoditiesGold3.43.33.33.33

We executed all our trades via the MetaTrader 4 mobile app on our iPhone.

Comparing the spreads charged in our trades to the industry averages showed that the broker’s spreads on all instruments were much lower than industry benchmarks.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD1.401.16
IndicesFTSE 1000.901.65
StocksApple0.621.75
CommoditiesGold3.333.53

Other fees

ICM Capital does not charge any other non-trading fees such as deposit and withdrawal fees or account inactivity fees.

Account Types

ICM Capital offers 2 account types with slight differences. These are the ICM Direct Account and the ICM Zero Account (spread from zero).

The differences are outlined below:

ICM DirectICM Zero Account
Trading PlatformsMetaTrader 4MetaTrader 4
Account CurrencyUSD/ EUR/ GBP/ SGDUSD/ EUR/ GBP/ SGD
Minimum Deposit$/€/£ 200$/€/£ 200
CommissionZero$7/Round lot for FX and Metals only – No commission is charged on all other products
Order ExecutionMarket ExecutionMarket Execution
SpreadFrom 1.3From 0
Note

ICM Capital offers swap-free Islamic Accounts to clients of the Muslim faith only. Such accounts do not attract a swap fee or rollover interest for positions held overnight in line with Sharia Law.

For our tests, we chose to open an MT4 ICM Direct Account.

ICM Capital Login

ICM Capital account opening was quick and straightforward. We went through the entire process and completed it online.

Here are the 5 steps to opening an ICM Capital account:

  1. Enter your full names, email, password, phone number, country and preferred language.
  2. Provide your date of birth, home address, nationality, passport number and clarify if you are a US citizen.
  3. Answer questions regarding your trading experience if you have ever traded forex and futures including your years of experience and transactions made in the last two years.
  4. Confirm if you have ever worked in the financial services sector and choose your trading platform, account type and currency.
  5. Lastly, provide details about your employment status, annual income, net worth, liquid assets, and expected deposit in USD.
ICM Capital Account Opening
ICM Capital Account Opening

The registration process took 8 minutes only, and our account was approved in 3 working days.

We opened the account on 9 April 2022, and it was approved on 13 April 2022.

We provided front and back pictures of our ID to verify our identity and a utility bill to confirm our home address.

We opened an MT4 ICM Direct account with ICM Capital Limited, which is regulated by the UK’s Financial Conduct Authority (FCA) for this test.

Deposit and Withdrawal

ICM Capital offers fast deposits and withdrawals. Traders can deposit and withdraw from their accounts via bank transfers, credit and debit cards, and e-wallets such as Skrill, Neteller, and PayPal.

The broker charges different fees for each deposit method but does not charge fees on withdrawals, which is not very common in the industry.

ICM Capital Deposit Methods
ICM Capital Deposit and Withdrawal

ICM Capital Minimum Deposit

ICM Capital has a minimum deposit requirement of US$200 or its equivalent on all account types.

ICM Deposit

ICM Capital’s clients can deposit funds into their trading accounts via bank transfers, debit and credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

Credit/debit card deposits of $200 and above do not attract charges, which is the minimum amount you can deposit using this method.

Bank Transfers, Skrill, Neteller, and PayPal deposits above USD 500 or its equivalent also do not attract charges.

Skrill deposits below USD 500 attract a transaction fee of $0.32, a receive money fee of 1.9%, and a country surcharge fee of 1%.

Neteller deposits below USD 500 attract a 2.5% fee, or a minimum $1 fee, combined with a $0.29 transaction fee and a country surcharge fee of $1.

PayPal deposits below USD 500 have a transaction fee of 3.75% combined with a fixed currency fee of GBP 0.20/ EUR 0.35/ USD 0.30.

The table below shows the details of our deposits:

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Skrill29 April 202229 April 202240 mins€0.00
Neteller29 April 202229 April 202210 mins€0.00
PayPal29 April 202229 April 202230 mins€0.00

The broker processed our deposits quickly and with zero fees because we deposited amounts above the levels that attract fees. We did not test the bank wire and credit card options.

Our Credit card transaction was rejected, but ICM Capital advised us to contact our bank because the broker did not reject the transaction.

ICM Withdrawal

ICM Capital allows its clients to make withdrawals via the same payment methods available for deposits making it easy for investors to access their funds.

ICM Capital does not charge a fee on withdrawals.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFee
Skrill29 April 202230 April 202230 April 20221 working dayzero
PayPal29 April 202230 April 202230 April 20221 working dayzero
Neteller29 April 202230 April 202230 April 20221 working dayzero

We did not face any challenges when withdrawing our funds.

Markets and Products

ICM Capital offers various tradable instruments in the Forex, indices, stocks, and commodities markets.

Here’s the complete list of ICM Capital’s product offering:

MarketsInstruments
Forex34
Indices17
Stocks93
Commodities5
Cryptocurrencies0

The broker offers a decent number of tradable instruments but is way below industry leaders who offer thousands of products.

Trading Conditions

The trading conditions at ICM Capital are great. Traders can execute most trading strategies as the broker allows high-risk strategies such as hedging and scalping.

ICM Capital also allows traders to run automated strategies powered by Expert Advisors (EAs).

There are no time limits for how long traders can keep their hedging positions open.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes*

*Traders can request to change leverage by sending an email to their customer support.

Leverage

ICM Capital offers its clients various leverage levels depending on the entity under which their account is registered. For non-EU entities, ICM Capital offers high leverage up to 500:1 and 2000:1.

Traders are allowed to change their account’s leverage levels after registration.

The table below shows the different leverage levels available to clients:

MarketsICM Capital LimitedICM Capital EUICM Trader LtdICM Capital VCICM Capital (Mauritius) Limited
Major Currency Pairs30:130:1500:1500:12000:1
Non-major Currency Pairs20:120:1100:1400:1500:1
Gold20:120:1100:1100:1500:1
Other Commodities (except gold)10:110:1100:150:1200:1
Indices5:15:1100:1200:12000:1
Stocks5:15:110:120:110:1
CryptocurrenciesN/A2:12:15:1100:1

Bonus

ICM Capital offers a 10% deposit bonus to its clients up to a maximum of $1,000. Traders should deposit a minimum of $2,000 to qualify for the promotion.

Traders can only withdraw the bonus after trading a specific number of lots depending on the bonus amount.*

*Credit bonus / 5 = no of lots traded.

ICM Trading Platform

ICM Capital has a proprietary platform known as ICM Direct, which uses ECN technology to provide customers with direct market access, with liquidity from major Tier 1 banks and top liquidity providers. The platform also offers low latency bridging with the MetaTrader 4 platform.

The broker also offers the popular MetaTrader 4 (MT4) platform. Clients can access the platform via desktop, Mac and mobile applications.

ICM Capital MT4

ICM Capital MT4 Trading Platform
ICM Capital MT4 Trading Platform

The MT4 platform was our preferred choice because of its advanced functions, including 2,000 free custom indicators combined with 30 in-built indicators. The platform also has 24 inbuilt analytical objects used to predict future price movements.

We found the MetaTrader 4 platform to be best suited to all types of traders including manual traders and those who use automated strategies.

Research and Tools

ICM Capital provides market research via its partnership with Trading Central giving its clients access to live technical analysis that provides real-time trade opportunities.

Traders also have access to short market news pieces that summarise the price action of different assets. The pieces are short and could be more detailed.

The broker provides an economic calendar on its website under the ‘Trading tools’ tab but does not provide historical data. Traders can track various economic releases and plan their trading activities accordingly.

ICM Capital Trading Tools
ICM Capital Trading Tools

The broker’s research offering was quite underwhelming.

Education

ICM Capital offers several learning resources to its clients. The broker has an ‘Introduction to Forex’ course covering the basics of Forex trading, including how the financial markets work.

The course is found in the resources section of its website, but it could have been more detailed.

The broker also provides a trading glossary with definitions of key trading terms. The list could have covered more topics.

ICM Capital also has a section on trading rules that delves into the details of actual trading, including how to calculate profits and losses, contract sizes, and pip values, among others. We found this section very useful.

ICM Capital Educational Material
ICM Capital Education Centre

Customer Service

ICM Capital’s customer service team was helpful and gave us detailed and accurate answers to our questions. We first contacted the team via live chat and asked them whether they charge any deposit and withdrawal fees.

We received a fast response from the agent, saying that there are no charges for credit card deposits over 200 USD or equivalent in other currencies, which is also the minimum deposit. For Bank Transfer, Skrill. Neteller and PayPal, there are no charges for deposits over 500 USD or their equivalent.

ICM Capital Customer Support
ICM Capital Customer Support

You can also reach ICM Capital’s customer service team via email. We sent the team an email asking several general questions, including the minimum deposit, whether they charge any deposit and withdrawal fees, the licenses that ICM Capital holds, and whether they allow hedging, scalping and change of leverage.

We got a detailed response in one working day, clarifying that the minimum deposit for both ICM Direct & ICM Zero is 200 USD or equivalent in other currencies.

ICM Capital does not charge any fees on deposits and withdrawals. However, the broker waives the transfer fees for any Credit/Debit card deposit over USD 200.00 and deposits over USD 500 for other payment methods.

Here are the results of our test below:

QuestionResponse TimeQuality of reply
Live chatWe asked if they charge any deposit and withdrawal fees1 minuteIt was direct, fast and accurate.
Live ChatWe asked why our debit card deposit was declined?2 minutesThey asked for clarification, the gave us an answer
EmailWe asked several general questions, including what’s the minimum deposit, do they charge deposit and withdrawal fees, the licenses that ICM Capital holds, whether they allow hedging, scalping and change of leverage1 working dayIt was direct and detailed.

Conclusion

Overall, we had a smooth experience with ICM Capital from the account opening, to the deposit and trading processes.

Both the live chat and email support replies were fast and came with complete answers. We recommend traders use both methods to contact the broker’s team.

We deposited over 500 EUR for each of the tested payment methods, so there were no charges on our deposits. ICMCapital review found fees are normally passed on for deposits below EUR 500. Our debit card deposit was declined which we didn’t expect, and their support team suggested we contact our bank to investigate as their team didn’t reject our debit card deposit.

All our deposits weren’t instant; it took approximately 40 min for ICM Capital to credit all our deposits into our trading account. Withdrawals via Neteller, Paypal and Skrill, were fast. It took us less than 1 working day to receive all the withdrawn funds.

Tradable instruments were limited compared to the leading brokers. ICM Capital offers most of the popular instruments but only offers the MT4 trading platform.

We also recommend ICM Capital to all traders, from beginners to advanced traders.

We recommend ICM Capital for traders who are

  • Experienced traders
  • Beginners
  • Run Scalping
  • Hedging
  • EAs trading
  • Trading through MT4

ICM Capital might not be a fit if you are

  • Real Stock / Futures Trading
  • Looking for wide instrument range
  • Prefer other platforms rather than MT4

Categories
Uncategorized

Amana Capital Review 2022

For this Amana Capital review, we have opened a standard account with the broker and deposited over €5,000.

We traded the popular instrument in each market to get the real spreads and placed a total of 12 trades.

We also reached out to customer support to solve the issues we faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is Amana Capital?

Amana Capital is well-known forex and contracts for difference (CFDs) broker with offices in Dubai, London, Limassol, and Beirut.

The broker was founded in 2010 and operates globally. It is regulated in countries like the United Kingdom, the United Arab Emirates, Cyprus, Malaysia, and Mauritius.

The offerings of Amana Capital include trading with forex, indices, commodities, cryptocurrencies, and shares CFDs.

Some of the highlights of Amana Capital are:

🗺️ Authorised & Regulated inUK, Cyprus, UAE, Lebanon, Malaysia, Mauritius
🛡️ Is Amana Capital safeYes
💰 EUR/USD Spread1.43
💳 Minimum depositUS$50
💰 Withdrawal feeUS$0 (with many exceptions)
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products392 (depends on the jurisdiction)

Is Amana Capital Regulated

Amana Capital holds licenses from 6 regulators. 

The broker is regulated in the UK, the UAE, Cyprus, Lebanon, Malaysia, and Mauritius. The UK’s FCA and the UAE’s DFSA are considered as two of the top global financial regulators.

The full list of Amana Capital licenses is below:

Legal entityRegistered inRegulatorLicense numberAccepting clients fromCompensation scheme amount
Amana Financial Services UK LimitedUnited KingdomFinancial Conduct Authority (FCA)605070United Kingdom, Global£85,000
Amana Financial Services (Dubai) LimitedUnited Arab EmiratesDubai Financial Services Authority (DFSA)F003269Middle EastNo compensation scheme
Amana Capital Ltd
Cyprus
Cyprus Securities and Exchange Commission (CySEC)155/11European Union€20,000
Amana Capital SALLebanonLebanese Capital Markets Authority (CMA)26NANo compensation scheme
AFS GlobalMalaysiaLabuan Financial Services Authority (LFSA)MB/18/0025GlobalNo compensation scheme
ACG International LimitedMauritiusFinancial Services Commission – Mauritius (FSC)C118023192GlobalNo compensation scheme

Amana Capital is not accepting accounts through Amana Capital SAL anymore due to the banking crisis in Lebanon and the very tough rules of the central bank of Lebanon.

Amana Capital DFSA (Dubai Financial Services Authority) Registration
Amana Capital DFSA License

Is Amana Capital Safe?

Yes, Amana Capital is a safe broker.

The broker is well-regulated with a total of 6 licenses. It is also overseen by the UK’s FCA and the UAE’s DFSA, two well-reputed financial market regulators. 

The FCA and the CySEC also offer compensation schemes of £85,000 and €20,000, respectively, to protect clients’ funds. 

Amana Capital UK

For our tests, we opened an MT5 Amana Classic account with Amana Financial Services UK Limited, which is regulated by Financial Conduct Authority (FCA) in the UK.

We recommend you open an account with the UK or the UAE unit if their services are available in your jurisdiction.

Fees and Commissions

Amana Capital’s trading fees are mostly built into spreads. The broker charges commission on share CFDs trading and for all asset classes on its top-tier accounts.

Spreads for forex and stocks on our trades were much below the average industry benchmark.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market. We placed 3 trades for each instrument to get a picture of the average spread.

Our test is based on Amana Capital’s Amana Classic account. Spreads for our trades remained stable with minor deflections for all asset classes.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD1.451.451.41.43
IndicesFTSE 1001.81.81.81.8
StocksApple0.450.40.40.42
CommoditiesGold4.554.154.354.35

Our testing finds that spreads on forex and share CFDs are lower than the industry average. Spreads on indices and commodities are, however, on the higher side.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD1.431.16
IndicesFTSE 1001.81.65
StocksApple0.421.75
CommoditiesGold4.353.53

Other Fees

Amana Capital charges deposit and withdrawal fees on most of the methods. It does not have any account maintenance or inactivity fees.

Withdrawal and deposit fees on Amana Capital are detailed below:

Deposit feeWithdrawal fee
Wire Transfer£6None
Amana Prepaid Cards$31.5%
Credit/debit card
(Visa, Mastercard, Maestro)
1.5%None
Debit Card (Union Pay)None0.5%
Neteller3.9% + $0.292% Capped at $30
Skrill3.9% + $0.291%
E PayNoneNone
Perfect Money, Payeer, AdvCash5%None
WebMoney2.8%2.8%
Moneta4.95%4.9%
Qiwi6.5%2%
Fast Bank Transfer2.5% or €1 or €2None
FasaPayFree0.5% capped at $5

Account Types

Amana Capital offers four account types: Amana Classic, Amana Active, Shares Account, and Amana Elite.

Amana Active account is eligible to clients with a minimum funding of $25,000 and $100 million of volume per calendar month.

Details of all Amana Capital accounts are:

Amana ClassicAmana ActiveShares AccountAmana Elite
Trading PlatformsMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 5MetaTrader 5
Account CurrencyUSD, GBP, EURUSD, GBP, EURUSD, EURUSD, GBP, EUR
Minimum deposit$50$25,000NA$250,000
Commission0 Commission on FX,0 Commission on Cash CFDs,$10 / lot on Futures CFDs,0.02$ / Share on Share CFDs (min 15$/tx)$30 per 1M on FX, $0 on Cash CFDs, $5 per lot on Future CFDs0.02$ / Share ($15 minimum/transaction)Raw spread + 4 to 6 $ commission round trip
Order executionMarket ExecutionMarket ExecutionInstant ExecutionMarket Execution
SpreadFrom 1.4From 0.1From 0From 0

Amana Capital also offers swap-free Islamic accounts, joint accounts, and corporate accounts.

Account Opening

Our overall experience of opening a new account with Amana Capital was smooth and fast.

We opened a MetaTrader 5 Amana Classic account for our tests under the FCA-regulated entity.

The process of registration of a new Amana Capital account:

  1. Fill the initial registration form with details like account type, first name, last name, email, mobile number, and the preferred Amana entity. 
  2. Click on the link sent to the registered email to proceed with the registration process.
  3. Enter trading platform, base currency, nationality, passport number (optional), date of birth, address, employment type, and educational level.
  4. Answer questionnaires on trading knowledge and experience.
  5. Provide details on the source of funds, intended initial investment, funding method, estimated annual income, estimated net worth, TIN number.

We submitted the following documents to verify our Amana Capital account:

  1. Copy of national identification (both front and back)
  2. Copy of our bank statement

The registration process took around 14 minutesOur account was verified on the same working day, within 6 hours.

Our account was registered on March 25, 2022, and approved on the same day.

Our overall account opening experience was smooth and without any issues from registration to verification.

Amana Capital Account Opening
Amana Capital Account Opening

Deposit and Withdrawal

Both deposits and withdrawals on Amana Capital are easy and fast. All our funding and withdrawal requests were completed without any issues.

However, the broker charges high deposit and withdrawal fees on most of the methods.

Minimum Deposit

The minimum deposit on Amana Capital varies with the account types.

  • Amana Classic account: $50
  • Amana Active account: $25,000
  • Shares account: None
  • Amana Elite account: $250,000

Traders only need to maintain the minimum deposit balance on their accounts.

Deposit

Amana Capital supports deposits with bank transferscredit and debit cards, online wallets like Neteller and Skrill, and many other popular regional methods.

The broker charges heavy fees on deposits.

The deposit methods also depend on the account jurisdiction.

We tested the deposit process on Amana Capital using a credit card, Neteller, and Skrill.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card2022-03-312022-03-311 hour1.5%
Neteller2022-03-312022-03-315 minutes3.9% + $0.29
Skrill2022-03-312022-03-316 minutes3.9% + $0.29
Amana Capital Deposit Methods
Amana Capital Deposit

Amana Capital Withdrawal

Amana Capital allows withdrawals with bank transfers, credit and debit cards, online wallets like Neteller and Skrill, and many other popular regional methods, same as the deposit methods.

Though a few key withdrawal methods are free, the broker charges fees for most of the methods.

Overall, our experience with the Amana Capital withdrawal process was positive, except for the fees.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit card2022-04-012022-04-012022-04-021 working dayzero
Neteller2022-04-012022-04-012022-04-014 hous2%
Skrill2022-04-012022-04-012022-04-012 hours1%

Markets and Products

Amana Capital offers CFDs trading services with forex, indices, stocks, commodities, and cryptocurrencies instruments.

The complete list of Amana Capital’s offerings are:

MarketsInstruments
Forex64
Indices20
Stocks and ETFs286
Commodities18
Cryptocurrency4

The markets and the number of offered instruments will depend on the account jurisdiction.

Trading Conditions

Amana Capital offers excellent trading conditions, allowing both hedging and scalping strategies. Traders can change leverage levels as well.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes

Leverage

Leverages offered by Amana Capital on various asset class are standard, as per the regulatory requirements, and are detailed below:

MarketsAmana Financial Services UK LimitedAmana Capital LtdAmana Financial Services (Dubai) LimitedAFS GlobalACG International Limited
Major Currency Pairs30:130:1400:1500:12000:1
Non-Major Currency Pairs20:120:1400:1100:1500:1
Gold20:120:1200:1100:1500:1
Other Commodities (except Gold)10:110:150:1100:1200:1
Indices5:15:1200:1100:12000:1
Stocks5:15:110:110:110:1
CryptocurrenciesNA2:120:12:1100:1

Bonus

Amana Capital offers three promotional offers to traders under its Malaysia-regulated entity (Read about no deposit bonus Malaysia).

  1. Bonus of $200 on deposits of $1,000
Maximum payout$1000
Minimum deposit$1000
Available instrumentAll CFDs (excluding CFDs on shares, cryptocurrencies and cash indices), forex, precious metals, and commodity futures

Requirements for the bonus:

DepositBonusMinimum lots required
$1,000$20014
$2,000$40028
$3,000$60042
$4,000$80056
$5,000$1,00070

2. Rebate Bonus

Maximum payout$1000
Minimum deposit$1000
Available instrumentAll CFDs (excluding CFDs on shares, cryptocurrencies and cash indices), forex, precious metals, and commodity futures

Details on the rebate:

Consecutive trading days30 days (Tier 1)60 days (Tier 2)90+ days (Tier 3)
Rebates per lot$1 per lot$1.5 per lot$2 per lot
Max cap payout$500$750$1,000

Amana Capital clients are entitled to a rebate bonus once and it is applicable to all tiers.

3. 50% money back on lossing trades

Amana Capital clients are entitled to receive a 50% of their losses, up to $1,000, for the first month of trading, which starts from the date of the initial deposit.

Amana Capital Bonus
Amana Capital Promotions

Copy Trading

Amana Capital offers copy trading services with ZuluTrade, which is a third-party platform.

Amana Capital Copy Trading
Amana Capital Copy Trading

Trading Platform

Amana Capital offers MetaTrader 4 and MetaTrader 5 platforms to the traders. These are industry standard third-party platforms developed by the company MetaQuotes Software.

Both these platforms are available on the web, desktop, and mobile.

Amana Capital Trading Platforms
Amana Capital Trading Platforms

We executed all our trades on MetaTrader 5 platform.

Research and Tools

Amana Capital offers some excellent market research and analysis tools.

Tools offered by the broker include:

  • Impressive charting tools
  • Market research using RiskPulse
  • Trading signals using Autochartist and Trade Captain
  • Economic calendar
  • Forex VPS
  • Newsfeed
Amana Capital Analytics Tools
Amana Capital VPS

Education

Amana Capital offers decent educational resources.

The broker’s educational materials include:

Amana Capital Educational Material
Amana Capital Educational Material

Customer Service

Amana Capital has excellent customer support.

Traders can contact the broker via:

  • Live chat 
  • email
  • Phone

The support staff is available only on weekdays.

Our experience with Amana Capital customer support was very good.

The support staff on both live chat and email was quick enough to answer our query accurately and in detail.

QuestionResponse TimeQuality of reply
Live ChatAsked questions on withdrawal priority1 minuteClear and accurate
EmailAsked several questions on the trading account, spread, leverage, and their entities2 hoursClear and accurate
Amana Capital Customer Support
Amana Capital Customer Support Live Chat

The broker also has a detailed FAQ section for frequently faced issues.

Conclusion

Our overall experience with Amana Capital was positive.

The broker offers attractive spreads on forex and stock CFDs with fast execution.

Account opening, deposits, and withdrawals are also smooth and fast on Amana Capital. However, we did not like the fees on deposits and withdrawals. We recommend traders to use credit cards for deposits and withdrawals as the fees with this are the lowest.

Our experience with customer support was again excellent as the responses were fast, clear, and detailed.

We recommend Amana Capital to forex traders who run EA and follow strategies like scalping and hedging.

We recommend Amana Capital for traders who are

  • Experienced traders
  • Run Scalping
  • Hedging
  • EAs trading
  • Trading through MT4

Amana Capital might not be a fit if you are

  • Real Stock / Futures Trading
  • Commission based trading
  • Prefer other platforms rather than MetaTrader

Categories
Uncategorized

Best Forex Brokers by Country 2022

Up to March 2022, we have tested 33 Forex brokers by country opening 33 live accounts, depositing over US$150,000, placing 400+ trades and making over 120 deposits and withdrawals from 14 countries.

To create in-depth and unbiased Forex broker by country reviews, we

  1. Checked the broker licenses and status in each country
  2. Opened a real account with the brokers
  3. Made real money deposit between $4000-$8000
  4. Placed 3 trades in the popular instrument of each market to determine the average spread
  5. Reached out to the broker’s customer support team to resolve the issues we encountered
  6. Withdrew all our funds to see the withdrawal time and if there are any delays or issues with withdrawals
  7. Compared trading data and experience to pick the best brokers

Please see the brokers by country list below:

CountryRegulatorOur Review
InternationalTop tier regulators FCA, CFTC, FMABest International Brokers
USACommodity Futures Trading Commission (CFTC)
National Futures Association (NFA)
Best Forex Brokers in USA
UKFinancial Conduct Authority (FCA)Best Forex Brokers in UK
AustraliaAustralian Securities & Investment Commission (ASIC)Best Forex Brokers in Australia
New ZealandFinancial Markets Authority (FMA)Best Forex Brokers in New Zealand
CanadaInvestment Industry Regulatory Organization of Canada (IIROC)Best Forex Brokers in Canada
CyprusCyprus Securities and Exchange Commission (CySEC)Best Forex Brokers in Cyprus
UAEDubai Financial Services Authority (DFSA)Best Forex Brokers in UAE
SingaporeMonetary Authority of Singapore (MAS)Best Forex Brokers in Singapore
KenyaCapital Markets Authority (CMA)Best Forex Brokers in Kenya
IndiaSecurities and Exchange Board of India (SEBI)Best Forex Brokers in India
NigeriaCentral Bank of Nigeria (CBN)Best Forex Brokers in Nigeria
South AfricaFinancial Sector Conduct Authority (FSCA)Best Forex Brokers in South Africa
PhilippinesSecurities and Exchange Commission (SEC)Best Forex Brokers in Philippines
MalaysiaSecurities Commission of Malaysia (SCM)Best Forex Brokers in Malaysia
JordanJordan Securities Commission (JSC)Best Forex Brokers in Jordan
IndonesiaBadan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI)Best Forex Brokers in Indonesia
ItalyCommissione Nazionale per le Società e la Borsa (CONSOB)Best Forex Brokers in Italy
FranceAutorite des Marches Financiers (AMF)Best Forex Brokers in France
AustriaFinancial Market Authority (FMA)Best Forex Brokers in Austria
GermanyBundesanstalt für Finanzdienstleistungsaufsicht (BaFin)Best Forex Brokers in Germany
PolandKomisja Nadzoru Finansowego (KNF)Best Forex Brokers in Poland 
PortugalComissão do Mercado de Valores Mobiliários (CMVM)Best Forex Brokers in Portugal
SpainComisión Nacional del Mercado de Valores (CNMV)Best Forex Brokers in Spain
SwitzerlandSwiss Financial Market Supervisory Authority (FINMA)Best Forex Brokers in Switzerland
IranCentral Bank of Iran (CBI)Broker in Iran
CameroonThe Bank of Central State (BEAC)Brokers in Cameroon
CambodiaSecurities and Exchange Commission of Cambodia (SECC) Best Forex Broker in Cambodia
ZambiaZambia Securities and Exchange Commission (SEC)Forex Brokers Zambia
LuxemburgCommission de Surveillance du Secteur Financier (CSSF)Best Brokers Luxemburg
BelgiumFinancial Services and Markets Authority (FSMA)Brokers in Belgium
GreeceHellenic Capital Market Commission (HCMC)Forex Brokers in Greece
MoldovaThe National Bank of MoldovaForex Brokers Moldova
Romania National Bank of RomaniaForex Brokers in Romania
Afghanistan Da Afghanistan BankForex Brokers Afghanistan
Kuwait The Central Bank of KuwaitBest Forex Brokers Kuwait
MauritiusThe Financial Services Commission (FSC)Forex Brokers Mauritius
MoroccoThe Autorité Marocaine du Marché des CapitauxBrokers in Morocco
SyriaThe Central Bank of Syria (CBS)Forex Brokers in Syria
Qatar The Qatar Central Bank Brokers in Qatar
YemenThe Central Bank of YemenYemen Best Brokers
NorwayThe Financial Supervisory Authority of NorwayBest Brokers Norway
Czech RepublicThe Czech National BankBest Brokers in the Czech Republic
Hungary The National Bank of Hungary Best Brokers in Hungary
EstoniaThe Ministry of Economic Affairs and CommunicationsBest Brokers in Estonia
EgyptThe Financial Regulatory AuthorityBest Brokers Egypt
Ghana The Bank of Ghana Best Brokers in Ghana
Namibia The Bank of Namibia Best Brokers in Namibia
Sri LankaThe Bank of Sri LankaBest Brokers Sri Lanka
NepalThe Securities Board of Nepal Best Brokers Nepal
TanzaniaNot RegulatedBest Brokers Tanzania
South KoreaThe Bank of South KoreaBest Brokers South Korea
TurkeyThe Capital Markets Board of Turkey Best Brokers Turkey
SwedenThe Financial Supervisory Authority of SwedenBest Brokers Sweden
IraqNot RegulatedBest Brokers Iraq
RussiaThe Central Bank of RussiaBest Brokers Russia
BrazilThe Securities and Exchange Commission of BrazilBest Brokers Brazil
BotswanaThe Bank of BotswanaBest Brokers Botswana
IsraelThe Israel Securities AuthorityBest Brokers Israel

Categories
Uncategorized

Best Forex Brokers by Category 2022

Up to March 2022, we have tested 33 Forex brokers by opening 33 live accounts, depositing over US$150,000, placing 400+ trades and making over 120 deposits and withdrawals by various trading accounts type and conditions.

To create in-depth and unbiased Forex broker by Category reviews offering, we

  1. Checked the broker licenses and status in each country
  2. Opened a real account with the brokers
  3. Made real money deposit between $4000-$8000
  4. Placed 3 trades in the popular instrument of each market to determine the average spread
  5. Reached out to the broker’s customer support team to resolve the issues we encountered
  6. Withdrew all our funds to see the withdrawal time and if there are any delays or issues with withdrawals
  7. Compared trading data and experience to pick the best brokers

Please see the Best Forex Brokers categorized list below:

CategoryOur Review
Way to Trade Best ECN Forex Brokers
Way to Trade Best ECN Forex Brokers UK
Way to Trade Best OTC Forex Brokers
Way to Trade Best Market Maker Forex Brokers
Way to Trade Best NDD Forex Brokers
Account TypeBest Forex Brokers Offering ZAR Account
Account Type Best Zero Spread Forex Brokers
Account Type Best Islamic Forex Brokers
Account Type Swap-Free Forex Brokers
Account Type Best Forex Brokers Offering Nano Lot Trading
Account TypeBest Forex Brokers Offering Cent Account
Account Type Best Brokers Offering Micro Account
Account TypeBest Brokers for Professionals
Account Type Best Forex Brokers for Large Accounts
Account Type Best Forex Brokers for Small Accounts
BonusNo Deposit Bonus Forex
BonusMalaysia Best Deposit Bonus Forex
BonusIndia No Deposit Bonus Brokers
Bonus No Deposit Bonus in Canada

Best Forex Trading Conditions

We tested Brokers and found those who truly offer various conditions like high leverage or micro trading, and covered review of popular Forex trading Platforms, Trading Strategies and Trading Conditions.

CategoryOur Review
Trading Platform Best Forex Trading Platforms
Trading PlatformBest MT4 Forex Brokers
Trading PlatformBest MT4 Forex Brokers South Africa
Trading Platform Best MT4 Forex Brokers India
Trading PlatformBest MT5 Forex Brokers
Trading Platform Best cTrader Forex Brokers
Trading PlatformBest Forex Trading Platform for Windows
Trading Platform Best Forex Trading Platform for Mac
Trading Platform Best Forex Trading Platform for Linux
Trading PlatformBest Forex Trading Apps
Trading PlatformBest Demo Forex Trading Apps
Trading Platform Best Forex Trading Platform for Android
Trading PlatformBest Forex Trading Platform for iOS
Copy TradingBest Social Trading Platforms
Copy TradingBest Forex Copy Trading Platforms
Copy TradingBest Forex Brokers with ZuluTrade
Best Forex Trading Platforms
CategoryOur Review
Trading StrategyBest Day Trading Platforms
Trading Strategy Best Forex Brokers with Automated Trading
Trading Strategy Best Hedging Forex Brokers
Trading Strategy Best Forex Broker for Scalping
Best Trading Strategies
CategoryOur Review
Trading ConditionBest High Leverage Forex Brokers
Trading Condition High Leverage UK
Trading Condition High Leverage Brokers in India
Trading Condition High Leverage in Australia
Trading Condition High Leverage Forex Brokers Malaysia
Trading Condition High Leverage in Canada
Trading ConditionBest Lowest Spread Forex Brokers
Trading Condition Best Fixed Spread Forex Brokers
Trading Condition Best Floating Spread Forex Brokers
Trading ConditionBest Raw Spread Forex Brokers
Trading Condition Best Guaranteed Stop Loss Brokers
Trading Condition Best Negative Balance Protection Forex Brokers
Trading Condition Best Weekend Trading Brokers
Trading ConditionBest Rebate Forex Brokers
Best Trading Conditions

Best Forex Trading Tools

Here we gather the most used, popular and effective tools suitable for various traders including a common review of trading Analysis, Robots, signals and additional tools to enhance trading capabilities.

CategoryOur Review
Trading ToolBest Forex Trading Tools
Trading Tool Best Technical Analysis for Forex Trading
Trading Tool Best Forex Indicators for Swing Trading
Trading Tool Best Forex Brokers with Trading Signals
Trading Tool Best Forex Broker for EA
Trading Tool Forex Brokers with Algorithmic Trading
Trading Tool Top Forex Brokers with API
Trading Tool Forex Trading Robot for Android
Trading ToolForex Brokers with Autochartist
Best Trading Tools

Best Forex Brokers by Products

In the Best Forex Brokers by Products or Trading Instruments list you can select Broker by the trading instrument or product, we tested various Brokers to choose the best for each product.

CategoryOur Review
Products Best CFD Brokers
ProductsBest Forex Pair to Trade
Products Best Spread Betting Platforms
Products Best Binary Options Brokers
ProductsBest Indices Trading Brokers
Products Best Cryptocurrency Brokers
ProductsBest Brokers with Nasdaq
Products AppBest Ethereum Trading App
Best Forex Trading Instruments

Best Forex Brokers for Beginners

To support Beginners in trading these are essential topics with points to consider including Education and Learning topics.

CategoryOur Review
For BeginnersBest Forex Brokers for Beginners
For BeginnersForex Trading for Beginners PDF
For BeginnersForex Trading for Beginners Video Tutorials
Education Forex Trading Courses
EducationForex Trading Webinars
Forex Trading For Beginners

Best Forex Brokers by Payment

Best Forex Brokers by Payment Method list defines brokers we tested that accept payment methods or deposit options suitable for you.

CategoryOur Review
Payment MethodBest Credit Card Forex Brokers
Payment Method Best Debit Card Forex Brokers
Payment Method Best Broker Instant Deposit
Payment Method Best Western Union Forex Brokers
Payment Method Neteller Forex Brokers
Payment MethodSkrill Forex Brokers
Payment MethodPayoneer Forex Brokers
Payment MethodMoneyGram Forex Brokers
Best Trading Deposit