Best Forex Brokers Morocco 2022

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

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

Also, we reached out to customer support to solve the problems that we had encountered. At last, we withdrew our funds to check the withdrawal process.

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

Is Forex Legal in Morocco?

Morocco is a country in North Africa that borders Western Europe to the north, and Southern France across the Mediterranean Sea to its south. The main resources of the country’s economy are agriculture, phosphate minerals, and tourism.

Forex trading in Morocco is legal and is gaining popularity. In the last decade, there has been a major shift in legislation around retail forex trading. Nowadays brokers are able to provide their online services without any restrictions.

Morocco’s financial industry is regulated by the Autorité Marocaine du Marché des Capitaux (AMMC). The government of Morocco has given the AMMC a mandate to regulate financial sector activities to ensure that it is fully compliant with Moroccan law.

The official website of the Autorité Marocaine du Marché des Capitaux is www.ammc.ma.

 

🏦Regulator	The Autorité Marocaine du Marché des Capitaux
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	No

Best Forex Brokers in Morocco

In Morocco, there are brokers that are based in the country, falling under local regulation. Also, there are brokers that accept Moroccan traders. We recommend signing only with reliable firms with tight regulation as money safety in trading goes first.

When choosing a forex broker Morocco, it is advisable to pay attention to the benefits the broker can provide. Some of the most important aspects to consider are deposit methods available in the country. Also, customer support availability is another important thing to regard.

In Morocco, the availability of brokers with Islamic accounts (swap-free accounts) is very important. Islamic accounts enable Muslim traders to trade forex, without breaching the Shaira law.

It is advisable to avoid offshore brokers. Their offerings can be attractive and favorable, yet it is better to avoid signing with them.   

To select the best forex brokers Morocco, we have tested and reviewed many forex brokers. For our tests, we opened a live account, deposited real money, and placed real trades with each broker.

We have come up with the following best forex brokers Morocco:

• XTB
• IC Markets
• FXTM
• ThinkMarkets

Best Online Broker Morocco

We picked IC Markets as the best overall online forex broker Morocco. 

IC Markets is an Australian Forex and CFDs broker. It was founded in 2007 and is headquartered in Sydney, Australia. The broker is heavily regulated and holds licenses in Australia, Cyprus, Seychelles, and The Bahamas. IC Markets offers multiple instruments in Forex pairs, indices, stocks, commodities, and cryptocurrencies.

IC Markets mostly charges low fees. The fees charged for trading Forex pairs, indices, commodities, and cryptocurrencies are lower than industry averages.

IC Markets offers 4 account types: the standard account, the cTrader raw spread account, and the raw spread account. The broker also offers Islamic accounts for its Muslim traders. IC Markets offers free and fast deposits via bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller. With IC Markets clients can conduct their trades through MT4, MT5, and cTrader platforms.
IC Market’s customer support is really helpful. Traders can contact the team via email and live chat.

Best Forex Brokers for Beginners in Morocco

We picked FXTM as the best forex broker Morocco for beginners.

FXTM or ForexTime was founded in 2011. It is headquartered in Cyprus. The broker has several licenses in the United Kingdom, Cyprus, South Africa, and Mauritius. With FXTM traders have access to multiple instruments: forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks.

FXTM offers fast and easy deposits through international wire transfers, credit cards, several local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal. With FXTM brokers have access to MetaTrader 4, MetaTrader 5, and FXTM Trader (proprietary mobile trading platform).

We have chosen FXTM as the best forex broker Morocco for beginners, as its educational section is great with a lot of useful material. The broker’s educational section includes eBooks and trading guides, Webinars, a forex glossary, video tutorials, seminars, workshops, etc.

Best Stock Broker Platform Morocco

We picked XTB as the best stock forex broker Morocco.

XTB is a global Forex and CFD broker. It was founded in 2002. The broker has headquarters in London and Warsaw. It is heavily regulated in the UK, Cyprus, Poland, Spain, and Belize.

XTB fees for Forex trades are considerably lower than the average. The fees for commodities, stocks, indices, and cryptocurrencies are either on the lower side or in line with the industry average.

XTB offers its clients two account types: the Standard, and PRO accounts. The broker’s Muslim clients can open forex swap-free Accounts. With XTB deposits are fast and easy. It offers multiple choices for money transfer: bank wires, credit and debit cards, and e-wallets such as Skrill and PayPal.

Lowest Spread Forex Broker for Morocco Traders

We picked ThinkMarkets as the best lowest spread forex broker Morocco.

ThinkMarkets is a forex and CFD broker. It was founded in 2010 and is based in Australia. The broker holds multiple licenses in Australia, the United Kingdom, South Africa, and Seychelles. ThinkMarkets offers trading services with forex, indices, commodities, cryptocurrencies, and shares CFDs. ThinkMarkets offers two account types: Standard account and ThinkZero account. Generally, ThinkMarkets’ fees on trades depend on the account type. In the case of Standard accounts, the fees are built into spreads.

We have chosen ThinkMarkets as the best lowest spread forex broker Morocco as based on our test spreads on forex, indices, and cryptocurrencies are much lower than the industry benchmark. However, spreads on stocks are commonly in line with the industry average.

List of Best Brokers in Morocco

Forex trading in the country is quite popular and there are many forex brokers Morocco. We tested them and came up with a full list of forex brokers Morocco.

Forex Broker Morocco	About Our Test	Our Review
AXI (AxiTrader)	Deposit Amount: Over €6,000 Total Trade: 12 trades	AXI Review
IC Markets	Deposit Amount: Over €5,000 Total Trade: 12 trades	IC Markets Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
Vantage FX	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
ThinkMarkets	Deposit Amount: Over €5,000 Total Trade: 15 trades	ThinkMarkets Review
INFINOX	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
Capital.com	Deposit Amount: Over €3,500 Total Trade: 15 trades	Capital.com Review
Darwinex	Deposit Amount: Over €5,000 Total Trade: 12 trades	Darwinex Review
Amana Capital	Deposit Amount: Over €5,000 Total Trade: 12 trades	Amana Capital Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Tickmill	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review

FAQ and More on Forex Trading in Morocco

Traders often have many questions connected with the forex brokers Morocco. We tried to pick and answer some of the most important queries related to the available forex brokers Morocco.

How to Verify Morocco Regulated Broker?

In Morocco, the financial sector is regulated by the Autorité Marocaine du Marché des Capitaux. In the country, traders can conduct their trading only with regulated forex brokers Morocco. Traders are recommended to avoid offshore brokers, no matter how attractive their offerings are.

Often traders wonder how they can verify a forex broker Morocco. Actually, it is quite easy. First, traders can check the broker on the regulator’s website. However, there is another way to verify a forex broker Morocco. For this, clients just need to visit the broker’s website. The majority of brokers list on their website the available and restricted regions and countries. It is always good to double-check the information before signing with the broker.

Islamic Accounts in Morocco

The Islamic accounts allow clients of the Muslim faith to have access to Forex market and not violate the Sharia law. A forex swap is an interest fee that is either paid or charged to you at the end of each trading day.

Islamic accounts are swap-free, and there are no swap charges to hold the positions open. The main benefit of swap-free accounts is that it is possible to open long-term positions and not risk the profits. Islamic accounts are available only for Muslim traders.

We have tested forex brokers Morocco, and have picked the following best swap-free brokers:

• Amana Capital
• Admiral Markets

Tax in Morocco for Forex Trading

In Morocco, traders are required to pay taxes for the profits made on the Forex market. The profits from forex trading are considered Capital Gains Tax and the tax rate for them is 10%.

However, traders should take into consideration that the responsibility for taxes is totally on them. They should be attentive to submit a tax form to the relevant institutions in the country.