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

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

Afterward we reached out to the customer support team, to see whether they could solve the problems we faced. Lastly, we withdrew our funds, to check the withdrawal process.

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

Is Forex Legal in Qatar?

Qatar is situated in the northeastern part of the Arabian Peninsula. Though it is small with only 11,600 square kilometers, Qatar is one of the richest countries in the region. Its income is mainly generated from the vast resource of crude oil and natural gas. In the country the population is quite well off, so many residents are interested in forex investments.

Qatar law does not ban forex trading in the country so is available for Qatar residents.

Qatar has several regulatory bodies that are engaged in overseeing the sector. The Qatar Financial Markets Authority (QFMA), and the QFC Regulatory Authority (QFCRA) are the leading financial institutions in the country.
The Central Bank of Qatar (CBQ) is also responsible for regulating the country’s financial sector. The main focus of the bank is preserving and ensuring monetary stability and controlling the financial activities of the country. Also, the institution is responsible for ensuring steady, transparent, and competitive conditions.

The official website of the Central Bank of Qatar is www.qcb.gov.qa.

🏦Regulator The Qatar Central Bank
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionYes
💰Compensation SchemeYes

Best Forex Brokers in Qatar

The residents of Qatar usually trade with well-known and trustworthy forex brokers that are heavily regulated with multiple licenses. We recommend signing only with reliable firms as money safety in trading goes first.

When choosing a forex broker Qatar, it is advisable to pay attention to a number of aspects that are crucial in trading. First, traders should check the broker’s deposit and withdrawal methods. Generally, brokers provide multiple methods to choose from. Also, customer support is no less important. Traders from Qatar should check whether the broker is able to provide support in their preferred language.

When talking about forex brokers Qatar, it is important to mention the Shariah law. The law prohibits traders from many transactions. Thus, Muslim traders usually look for brokers that have Islamic and Swap-free accounts. Generally, forex brokers Qatar can choose brokers that are also available in the UAE. You can also have a look at our Best Forex Brokers in Dubai, UAE 2022 article.

We have tested a number of forex brokers Qatar to be able to choose the best brokers for Qatari traders. Below are listed our top picks:

  • XM Best Online Broker Qatar Overall
  • FP Markets Best MT4 Broker for Qatar
  • Amana Capital Best Broker for Stock Trading in Qatar
  • AxiTrader – Best Low Spread Broker Qatar

Best Online Broker Qatar Overall

We picked XM as the best overall forex broker Qatar

Founded in 2009, XM is a well-regulated broker holding licenses in the UK, Cyprus, Australia, UAE, and Belize. XM offers tradable instruments in multiple categories: Forex pairs, indices, stocks, and commodities. The broker is among the few brokerages that offer zero spread accounts.

XM offers 5 account types: XM Micro Account, Standard, XM Zero, XM Ultra-low, and Shares accounts. XM also offers Islamic Forex Accounts. The main difference with Islamic accounts is that they charge an administration fee if a trader holds a position for more than 3 nights.

XM offers free and fast deposits and withdrawals through bank wires, credit and debit cards, and e-wallets such as Skrill and Neteller. XM is a perfect platform both for professional traders and beginners. Its educational section is very good with a lot of interesting and helpful materials. At last, traders can conduct their trades via MT4 and MT5 industry-standard platforms.

Best MT4 Brokers for Qatar

We picked FP Markets as the best MT4 forex broker Qatar.

FP Markets or First Prudential Markets is based in Australia. The broker was founded in 2005. It offers multiple instruments across the following markets: forex, stocks, indices, commodities, and cryptocurrencies.

The broker is heavily regulated in the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines. It offers fast and reliable deposit methods via credit and debit cards, bank transfers, and online wallets like BPay, Poli, PayPal, Neteller.

The broker enables trades on MetaTrader 4, MetaTrader 5, and IRESS platforms. We have picked FP Markets as the best MT4 forex broker Qatar as its MT4 platform is really good, equipped with all the important tools and features.

Best Brokers for Stock Trading in Qatar

We picked Amana Capital as the best stock exchange forex broker Qatar. 

Amana Capital is a forex and CFDs broker. It is headquartered in Dubai, London, Limassol, and Beirut. With Amana Capital, traders have access to the following categories: forex, indices, commodities, cryptocurrencies, and shares CFDs. The broker is trustworthy with licenses from top regulators: FCA, CySEC, and CMA.

The broker offers Amana Classic, Amana Active, Shares Account, and Amana Elite account types. The clients can conduct their trades on MT4 and MT5 trading platforms. We have chosen Amana Capital as the best web forex stock broker Qatar as based on our test spreads for stocks are much below the average industry benchmark.

Best Low Spread Brokers Qatar

We picked Axi Trader as the best low spread forex broker Qatar.

Axi Trader was founded in Australia in 2007. In 2020 it was rebranded to Axi. It is heavily regulated with licenses in Australia, the United Kingdom, the UAE, Saint Vincent, and the Grenadines. Axi offers multiple tradeable instruments: forex pairs, indices, commodities, and cryptocurrencies. Axi offers 2 account types: the Standard, and PRO accounts. Also, it offers Islamic accounts for its Muslim clients.

We have picked Axi as the best low spread forex broker, as based on our research Axi’s spreads were below industry averages. We also noticed that the broker charges extremely low spreads on Bitcoin trades. Also, Axi is among the best ECN forex brokers Qatar.

List of Sock Brokers and Forex Brokers in Qatar

Qatari traders have multiple options in choosing a trustworthy and heavily regulated forex broker Qatar. We tested different forex brokers and came up with an impressive list of forex brokers Qatar.

Qatar Forex BrokerAbout Our TestOur Review
XMDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
Trading 212Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
FxProDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
Admiral Markets Review
Amana CapitalDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review

FAQ and More on Forex Trading in Qatar

Traders often have questions related to trading in Qatar. To be helpful, we answered some of the most important questions related to the forex brokers Qatar.

How to Verify Qatar Regulated Broker?

In Qatar there are several regulatory bodies that control the country’s financial sector – the Qatar Financial Markets Authority (QFMA), the QFC Regulatory Authority (QFCRA), and the Central Bank of Qatar (CBQ). To verify a forex broker Qatar, we advise traders to check them on the regulator’s official websites. Usually, the UAE forex brokers are available in Qatar as well.

However, double-checking any information is essential. Thus, traders may try another method. Forex brokers usually place the information on regional availability and restrictions on their websites. It is quite easy to find the it there.

Central Bank of Qatar - official website

Best Cryptocurrency Brokers for Qatar Trading

Cryptocurrencies are a form of digital money that uses blockchain technology to securely transfer information. Transactions occur through encryption and there is no need for intermediaries.

Based on the collected data, we picked two forex brokers Qatar that offer crypto trading in the country:

  • Trading 212
  • FXTM

Tax in Qatar for Forex Trading

Generally, forex trading in Qatar is not taxable for individuals. Unlike many other countries, Qatar residents are not required to pay taxes for capital gains. However, for corporations the rules are different. They pay 10% taxes for capital gains. 

Traders should always remember, that they are responsible for filing tax forms to the country’s relevant institutions. Any delay or avoidance may result in fines and 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

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