Best Forex Trading Platform in Jordan 2022
To come up with this list, we have tested over 5 forex brokers holding JSC licenses in Jordan.
We opened a real account and deposited between $4,000 and $8,000 with each broker. We placed real trades in each popular market to get the real spreads.
We also reached out to customer support to solve issues that we had encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best forex brokers in Jordan based on our trading data and experience as a trader.
JSC Regulations for Forex Brokers
Forex brokers in Jordan are locally regulated by the Jordan Securities Commission (JSC), which oversees all the capital market activities in the country. It is one of the reputed financial markets regulators in the Middle East.
JSC was established in 1997 as a public institution. It has the financial and administrative autonomy to regulate all Jordan’s capital market players and implement secure investment practices. The scope of the regulator covers the Amman Stock Exchange, the Securities Depository Center, financial services companies, public shareholding companies, investment funds, and also all certified financial professionals.
The official website of the JSC is jsc.gov.jo, which is available in two languages, Arabic and English. We recommend investors and traders follow JSC on Twitter, @JSC_Securities, and Facebook, @Jordanian.Securities.Commission, to receive all regulatory updates.
JSC has tight regulations for forex brokers or any other financial services firms operating within its jurisdiction. It mandates the separation of the company’s funds and clients’ deposits, and requires regular regulatory updates.
Forex brokers regulated by the JSC can offer a maximum leverage of up to 500:1, which is considered among high levels (for comparison, UK and EEA brokers can offer leverage of only up to 30:1).
On the downside, however, the broker does not require mandatory negative balance protection or offer any compensation scheme.
JSC is also very strict in enforcing the regulatory framework and has the right to suspend or revoke the licenses of any regulated entity for serious compliance violations.
Some of the key highlights of trading with JSC-regulated brokers:
|Jordan Securities Commission (JSC)
|🛡️Is It safe to trade
|🔒Negative Balance Protection
Best Forex Brokers in Jordan
To select the best Jordanian forex brokers, we have tested and reviewed several forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. With our test, we got a picture of the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and customer services.
- Admiral Markets – Best Overall Forex Broker in Jordan
- Windsor Brokers – Best Forex Broker for Beginners in Jordan
- Equiti – Best MT4 Forex Broker in Jordan
- CFI – Best Forex Trading Platform in Jordan
- ICM.com – Best Forex Broker with Lowest Spread & Trading Fees in Jordan
Best Overall Forex Broker in Jordan
We picked Admiral Markets as the overall best forex broker in Jordan.
Admiral Markets is a multi-regulated broker which secured a JSC license in mid-2021. The broker is headquartered in Estonia and is also regulated in Estonia, UK, Cyprus, and Australia.
Admiral Markets offers trading services with forex and CFDs of indices, stocks, commodities and cryptocurrencies, listing more than 3,300 instruments. Additionally, our tests found that the spreads charged by the broker are much lower across all asset classes. It provides services on two industry-standard platforms, MT4 and MT5.
The Jordanian subsidiary of Admiral Markets offers maximum leverage of 1:500 on major currency pairs, along with negative balance protection of $50,000.
Best Forex Broker for Beginners in Jordan
We picked Windsor Brokers as the best forex broker for beginners in Jordan.
Windsor Brokers is an excellent forex and CFDs broker when it comes to offering trading services to beginner traders. It offers an excellent library of educational resources with both in-depth guides and well-explained videos. Newbie traders can also execute trades on the demo account without risking real money.
Windsor Brokers’ offerings include trading instruments of forex and CFDs of indices, stocks, and commodities. The broker also has an impressive customer support team that answered all of our queries promptly and accurately.
Best MT4 Broker in Jordan
We picked Equiti as the best MT4 broker in Jordan.
Equiti is another forex and CFDs broker that is regulated locally in Joran. The broker offers services on the industry-standard MetaTrader 4 (MT4) platform, which was developed by MetaQuotes Software. It provides MT4 on devices of all form-factors: web, desktop and mobile.
The offerings of the broker include the currency pairs and CFDs of several other asset classes like indices, stocks and commodities. The broker lists derivatives trading instruments of popular stocks listed on exchanges in the United Kingdom, United States and other European Union countries.
Best Forex Trading Platform in Jordan
We picked CFI as the best forex trading platform in Jordan.
Credit Financier Invest or CFI is a good brokerage regulated in Jordan for trading currency pairs. The broker lists 38 currency pairs that include both major and some of the minor currencies. There is also no restriction on trading strategies, meaning traders can run both scalping and hedging.
Apart from forex, CFI offers trading services with CFDs of indices, equities, commodities, ETFs and cryptocurrencies. Furthermore, it offers two industry-leading trading platforms: MT5 and cTrader.
CFI offers services globally and is also licensed in the United Kingdom, Cyprus, Lebanon, the UAE and Mauritius.
Best Forex Broker with Lowest Spread & Trading Fees in Jordan
We picked ICM.com as the best forex broker with the lowest spread & trading fees in Jordan.
ICM.com is another global brokerage that offers regulated services in Jordan. It expanded to the Middle Eastern country in 2020 and offers services locally to forex and CFDs traders. When it comes to spreads and fees, ICM.com has excellent offerings.
According to our tests, the broker charges 1.4 pips spread on EUR/USD pair, whereas the industry average spread for the pair is 1.6 pips. Spreads on the CFDs of FTSE 100, Apple stock and Glod are also much lower than the industry average. Additionally, ICM.com does not have any non-trading fees.
Regulated Jordan Forex Brokers List & Review
Here is a complete list of regulated forex and CFDs brokers operating in Jordan we have tested.
|Visit Admiral Markets
|Visit Windsor Brokers
FAQ & More on Jordan Brokers
Traders usually have many questions related to trading generic trading-related queries. We tried to pick and answer some of the most important queries related to JSC-regulated brokers.
How to Verify a JSC-Regulated Broker?
Though JSC has an English version of its website, it is a bit tricky to navigate the website. It does not maintain a proper database like other regulators of all licensed brokers and financial services firms.
ECN Forex Brokers in Jordan
None of the locally regulated Jordinian brokers offers ECN connection. However, some global brokers offering ECN accounts onboards traders from Jordan under oversees licenses. Some of the True ECN brokers offering services in Jordan are:
MT4 Forex Brokers in Jordan
MT4, developed in 2005 by MetaQuotes Software, remains the most popular platform for trading forex and CFDs. It offers some excellent indicators and charting tools for market analysis and further allows third-party developers to build custom tools. Some of the MT4 forex brokers offering services in Jordan are:
- Admiral Markets
Low Spread Forex Brokers in Jordan
Spread is the difference between the bid and ask quotes and critically impacts the cost of trading. A lower spread drastically takes down the cost of trading, and traders can book much higher profits. Some of the low-spread brokers in Jordan are:
- Admiral Markets
High Leverage Forex Brokers in Jordan
Jordan’s JSC allows regulated brokers to offer leverage of up to 500:1 on major currency pairs. This leverage level is considered very high as regulators of some developed countries significantly capped maximum leverage levels recently. Some of the high leverage brokers in Jordan are:
- Admiral Markets
Best Forex Broker in Middle East
We picked Admiral Markets as the best forex broker in the Middle East.
The broker offers thousands of instruments on Forex pairs, indices, stocks, and commodities.
Among other advantages, Admiral Markets offers a great beginners course titled Forex 101. It includes nine in-depth lessons that show new traders the Forex markets’ dynamics.
Tax in Jordan for Forex Trading
Many forex traders in Jordan wonder whether forex trading in their country is subject to taxation. In truth, there is next to no information about that, however, we have been able to come up with certain information about the taxation rules in the country in general.
Foreign income is not subject to taxation unless it has some relation to Jordanian deposits and funds. In this instance, it is taxable at the rate of 15%. The income from the local sources is 20% in the country.
However, residents of Jordan should remember that the responsibility of filing tax forms to the county’s relevant institution is solely theirs. In case of any delays or tax avoidance, there may be fines and different penalties.
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