For this list, we have searched and tested several forex brokers Iran.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers, to be able to select the brokers that had the best offerings and were the most reliable for forex trading. Afterwards, we placed real trades in each popular market.

We also tested the work of the customer support team. It was essential to find out whether they are able to solve the problems that customers face.

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

Can you Trade Forex in Iran?

Iran is a country that has an enormous population, with the potential to be traders. The economy of Iran consists mainly from central planning and state ownership in oil, alongside other large enterprises like village agriculture or small scale private trading services.

As to forex trading in the country, forex brokers Iran are authorized and regulated by the Central Bank of Iran (CBI) CBI issued a statement saying that they will only register and authorize foreign exchange companies who have physical offices within its borders. You can also visit CBI website here.

The Central Bank also enacts specific laws concerning currency transactions which traders must follow according to the country’s banking regulations board. As a matter of fact, the process of finding a forex broker Iran can be daunting for beginners. 

The Iranian government has not made it easy for new investors to enter the Forex market. The country’s financial regulations are strict, driving international brokers out. 

🏦Iran RegulatorThe Central Bank of Iran (CBI)
📊Max. LeverageNo Max. Leverage
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo Negative Balance Protection
💰Compensation SchemeNo Compensation Scheme

Best Iran Forex Brokers

Finding a reliable forex broker Iran is not an easy task. Even though there aren’t many international brokers available, we recommend not to trade with offshore brokers due to the high risks involved. Since most off offshore and unregulated firms may target traders who do not have much information and good brokers in their jurisdictions, so traders should check well broker before signing in.

To be helpful, we have tested and reviewed a number of brokers to see how trustworthy they are and what offerings they have. We have opened real accounts with them and found data on their real spreads and commissions, deposit and withdrawal conditions, platforms, educational resources, and customer services.

Here are our top picks for forex brokers Iran:

  • HYCM – Best Broker for Iranian Overall
  • Alpari – Best Iran Broker for Beginners
  • FXTM – Best MT4 Forex Broker in Iran

Best Broker for Iranian Overall

We have picked HYCM as the best overall forex broker Iran.

HYCM, founded in 1977, is headquartered in London, UK. The broker is regulated in several jurisdictions: the United Kingdom, Cyprus, Dubai, and the Cayman Islands.

HYCM offers the traders three main account types: Fixed, Classic and Raw Spread Accounts with different model accounts. HYCM fees vary according to the account type. As to HYCM spreads, it uses either a fixed spread model or, for Classic account types,  it offers floating spreads

We have chosen HYCM as the best MT4 forex broker in Iran, as its MT4 platform is armed with the best tools and features, which makes the trading relatively favourable. However, HYCM also offers the MT5 platform, so the traders always have a choice. 

Best Iran Broker for Beginners

We have picked Alpari as the best forex broker Iran.

Alpari was founded in 1998. The broker is regulated by SVG FSC, FSC, but since operate for many years and in numerous contrires is considered safe. Alpari offers trading with Forex currency pairs, spot metals, CFDs along with Cryptocurrency trading.

The broker offers several account types, as well as PAMM accounts. Alpari clients can trade on the popular MT4 and MT5 platforms 

We have chosen Alpari as the best forex broker Iran for beginners as it provides a great amount of educational materials and analytical support.

Best MT4 Forex Broker in Iran

We have picked FXTM as the best MT4 forex broker Iran.

Founded in 2011, FXTM is headquartered in Cyprus. FXTM is strictly regulated by FCA, CySEC, FSCA, and FSC.

FXTM offers services with forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks. FXTM has several account types: Standard Account, Cent Account, and Stock CFDs Account. The broker’s fees are built into the spreads. On standard and stock CFDs accounts spreads are on the  higher side.

FXTM offers 3 main trading platforms: MT4MT5, FXTM Trader (proprietary mobile platform).

Top 10 Forex Brokers in Iran List

Actually, most of the recommended forex brokers do not accept Iranian clients. However, there are still some trustworthy brokers that are available in Iran. Here is a short list of the forex brokers Iran that we were able to come up with as a result of our tests, and they are not actually 10 only 4 we found available for Iranian traders.

Forex BrokerTest DetailsBroker Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
AlpariAlpari Website

FAQ and More on Iran Forex Brokers

There are many essential questions that may interest the traders, when it comes to forex brokers Iran. With an attempt to be helpful, we picked and answered some of the most important queries related to forex brokers Iran.

How to Verify an Iran Regulated Broker?

As has already been mentioned, the Central Bank of Iran oversees forex trading in the country. When looking for a reputable Iran regulated broker, there are a few things you can do to verify their legitimacy. With the right research, you can find a reliable and trustworthy broker that will suit your trading needs.

Be sure to confirm that the broker is properly regulated and is not an offshore broker. Unfortunately, majority of reccomended brokers do not accept Iranian brokers due to regulations. Just check in the broker’s website, whether it is available for your country.

Central Bank of the Islamic Republic of Iran

Best Forex Trading Apps that Allow Iranian Traders

We have taken a look at some of the best forex trading apps that allow Iranian traders to participate in the market. Whether you are a beginner or an experienced trader, a good app will provide you with all the tools and resources you need to succeed in forex trading. 

Here are the best forex trading apps for Iranian traders:

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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