Best Forex Brokers Jamaica 2022

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

We opened a real account and deposited between $4,000 and $6,000 with each broker. After that, we placed real trades in each popular market to get the actual picture. 

Afterward, we reached out to the customer support team to see if they were able to solve our issues. Finally, we withdrew our funds to check the withdrawal process.

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

Is Forex Trading legal in Jamaica?

Jamaica is an island country situated in the Caribbean sea. It is the third-largest country in the Caribbean after Hispaniola and Cuba. The current population of Jamaica is 2.961 million. Jamaica’s economy mainly relies on tourism and finance covering the country’s 70% of GDP. It also includes such major sectors as manufacturing, agriculture, petroleum refining, and mining.

The forex exchange market in Jamaica is legal is regulated by the Bank of Jamaica. In order to operate in the country, the brokers should be registered and authorized by the Bank of Jamaica. In 2017, the central bank introduced a new tool called the BOJ Foreign Exchange Intervention and Trading Toll (B-FXITT) to ensure the efficiency and transparency of the forex market.

The official web page of the Bank of Jamaica is – boj.org.jm.

🏦Regulator	The Bank of Jamaica
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	No
📊 Maximum Leverage	1:30

Best Forex brokers in Jamaica

Finding a well-regulated forex broker for Jamaican clients might be daunting. Some of the brokers are regulated by the local authorities, traders can also register with international brokers. We recommend choosing brokers wisely and registering only with trustworthy brokers since money protection goes first.

When choosing a broker, traders have to pay attention to several aspects. First of all, traders need to make sure that the broker is available to trade in their region, what payment method it offers to them, and if there is proper customer support. Also, before signing up, traders should check whether the broker provides help in their preferred language.

To come up with this list, we have tested several Forex brokers. Based on our research we chose the following Forex Brokers Jamaica:

• FxPro – Best Overal Forex Broker in Jamaica
• XM – Best Forex Broker in Jamaica for Beginners
• FP Markets – Best MT5 Forex Broker in Jamaica
• IC Markets – Best Forex Broker in Jamaica with Lowest Spreads
• XTB – Best CFD Stock Trading Broker in Jamaica

Best Online Broker Jamaica Overall

We picked FxPro as the best forex broker in Jamaica overall.

Founded in 2002, XTB is a global Forex and CFD broker with offices across Europe. The company offers both standard accounts as well as PRO trader options for those who want more control over their trading strategy or wants an advanced interface like the ones found on MT4 platforms such at MetaTrader 4 (MT4).

Its education section provides valuable resources including tutorials about how to use xStation platform; it also has weekly webinars where experts teach people all aspects of currency trading from basic principles right up to complex methods used by professional traders around.

Best forex brokers for beginners Jamaica

We picked XM as the best forex broker for beginners in Jamaica.

XM is a forex and CFDs broker that was founded in 2009, holds multiple licenses across Australia, the United Kingdom Cyprus UAE Belize to allow traders access to stocks commodities indices stocks exchange-traded funds (ETFs) on major exchanges around world such as London exempted optioned futures markets via XM’s proprietary trading platform that gives users 24/5 support through social media channels including Facebook Twitter LinkedIn YouTube channel.

With its educational resources Tradepedia videos available worldwide webinars weekly publications blog posts articles this company makes sure new XM is a forex and CFDs broker.

Best Broker for MetaTrader 5 Jamaica

We picked FP Markets as the best forex broker with MT5 in Jamaica.

FP Markets is a well-established forex broker that offers trading services with cryptocurrencies, stocks and commodities. The company has 9,000 instruments to trade on its platform; it also provides direct access for traders who want an edge over others while participating in public auctions held live through MT5 (Meta trader 5)

FP Markets was founded back when people were only just getting acquainted via phone calls or face-paced internet connections. They’re licensed both internationally in Cyprus, Australia as well St Vincent & The Grenadines.

Best Jamaican Lowest Spread forex broker

We picked IC Markets as the best forex brokers with lowest spreads in Jamaica.

IC Markets is an Australian-based brokerage that offers many trading options for clients. Clients can choose from four main account types: standard, cTrader raw spread trader platform experiences with index funds and cryptocurrency transactions on the market too.

The company has licenses in Australia, Cyprus Seychelles Bahamas which gives them access to some really exciting markets like forex pairs Stocks commodities stocks crypto coins. They even provide MT4 or MT5 depending what you prefer so there’s always something available no matter how much experience anyone may have already gained when it comes down.

We picked IC Markets as the best forex broker with lowest spreads since it offers Raw spread account with spreads starting from 0.0.

Best Stock Broker in jamaica

We picked XTB forex broker as the best stock trading broker in Jamaica.

Founded in 2002 XTB is a global Forex and CFD broker. The broker is headquartered in London and Warsaw. Also, it holds licenses in the UK, Cyprus, Poland, Spain, and Belize. The broker offers the following markets: Forex, Indices, Stocks, Commodities, ETFs, and Cryptocurrencies. XTB offers 2 main account types: the Standard, and PRO accounts, also a forex swap-free Account. The broker offers various payment methods including bank wires, credit and debit cards, and e-wallets such as Skrill and PayPal.

With XTB traders have access to the broker’s proprietary trading platform – xStation, and also to the popular MetaTrader 4 (MT4) platform. The education section of XTB is also excellent. It offers a demo account, webinars, ebooks, video tutorials, educational articles, and videos.

List of Forex Brokers in Jamaica

We have tested many regulated and trustworthy forex brokers in Jamaica. Based on our research, we have come up with a list of available forex brokers Jamaica.

Jamaica Forex Broker	Our Test Details	Broker Review
ICM Capital	Deposit Amount: Over €5,000 Total Trade: 12 trades	ICM Capital Review
eToro	Deposit Amount: Over $6,000 Total Trade: 18 trades	eToro Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Admiral Markets	Deposit Amount: Over €4,000 Total Trade: 12 trades	Admiral Markets Review
FP Markets	Deposit Amount: Over €6,000 Total Trade: 12 trades	FP Markets Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
ActivTrades	Deposit Amount: Over €5,000 Total Trade: 12 trades	ActivTrades Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FxPro	Deposit Amount: Over €5,000 Total Trade: 15 trades	FxPro Review
Dukascopy	Deposit Amount: Over €4,000 Total Trade: 15 trades	Dukascopy Review
IC Markets	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
Tickmill	Deposit Amount: Over $8,000 Total Trade: 12 trades	Tickmill Review

FAQ and More on Forex Trading in Jamaica

Traders usually have many questions and concerns related to forex trading in Jamaica. To be helpful we picked and answered some of the most essential questions related to forex brokers Jamaica.

How to Verify Jamaica Regulated Forex Brokers?

Verifying Ghana forex brokers is not really difficult. Traders can look for the information on the official website of the Bank of Jamaica. On the Bank’s official website it is possible to find information about the brokers operating in the country.

However, forex brokers Jamaica can also be verified on the broker’s website. Generally, all brokers provide information about their availability in certain regions and countries.

forex brokers with low deposit Jamaica

Brokers with low deposits considered minimum requirements below 100$, however, traders should check margin requirement for the instrument they wish to trade since 100$ or lower might be not enough and very risky to use leverage.

Here are some of the low deposit brokers in Jamaica:

• IC Markets
• XM
• Admiral Markets

Which broker offers welcome bonus in Jamaica?

Forex Welcome Bonus is a type of brokers’ promotion that awards a certain percentage of deposit increase. This bonus is credited to the clients when they make the first deposit on their account.

Here are some of the forex brokers Jamaica offering welcome bonus:

• XM
• IC Markets

Jamaica high leverage forex brokers

A high leverage offer in forex trading means that a trader can control a large amount of money for a comparatively small initial margin requirement.

Here are some of the forex brokers Jamaica:

• FXTM
• RoboForex

The best binary option broker for Jamaica

There is no best binary CFD broker in Jamaica, hence we do not recommend due to the high risks of the instrument itself.

Tax for Forex Trading in Jamaica

In Jamaica, forex trading is taxable. Gains from forex trading are taxed at the same rate as regular income. Taxes on international trade (% of revenue) in Jamaica was reported at 33.6 %.

Jamaica traders should be very careful and check the tax information with the relevant authorities. In the case of delays or tax avoidance, they may face penalties and fines.