To come up with this list, we have tested multiple forex brokers Kuwait.
We opened real accounts and deposited between $4,000 and $6,000 with each broker. Also, we placed real trades in each popular market to get the actual picture.
We also contacted customer support to see how they are able to solve the issues that we encountered. At last, we checked the withdrawal process by withdrawing our funds.
We handpicked the best forex brokers Kuwait based on our trading data and experience as a trader.
Is Forex Trading Legal in Kuwait?
Kuwait is a small but wealthy country that has been able to create an economy based on petroleum and finance. Forex Trading in the country is legal and quite popular among the locals.
Being an Islamic state, Kuwait follows rather a civil law system, means Shaira law refers to Muslim residents only. Thus, unlike in other Islamic countries, the restrictions in the country are not too tight, offering in Kuwait both Islamic banks and Conventional banks. Muslims in the country can get access to Forex Trading via Islamic (swap-free accounts).
The financial sector and Forex Trading in Kuwait are regulated by several authorized bodies. Mostly, Forex trading is strictly regulated by the Central Bank of Kuwait.
The website of the Central Bank of Kuwait is www.cbk.gov.
However, Forex brokers Kuwait are also regulated by the Ministry of Commerce and Industry. Another body that controls the sector is the Kuwait Chamber of Commerce and Industry (KCCI).
| 🏦Regulator | The Central Bank of Kuwait |
| 🛡️Is It safe to trade | Yes |
| đź”’Negative Balance Protection | No |
| đź’°Compensation Scheme | No |
Best Forex Brokers in Kuwait
When talking about forex brokers Kuwait, traders should take into consideration, that there are brokers based in the country, as well as there are available forex brokers that accept Kuwait traders.
When choosing a broker, always pay attention to its reliability, as money safety in trading is of utmost importance. Besides safety, there are also other not less important points to pay attention to. For instance, available payment methods in the country and customer support are two essential aspects to consider carefully.
To select the best forex brokers Kuwait, we tested and reviewed multiple forex brokers. We opened a live account, deposited real money, and placed real trades with each broker. Based on our tests we were able to assess the real spreads and commissions, trading platforms, deposit and withdrawal conditions, educational resources, and other important conditions. We also considered the availability of Swap-free accounts (Islamic accounts).
Based on our tests we came up with the following best forex brokers Kuwait:
- HYCM
- Go Markets
- Pepperstone
- BlackBull Markets
Best Online Broker Kuwait Overall
We picked HYCM as the overall best forex broker Kuwait.
HYCM, founded more than 40 years ago in 1977, is a global financial services company with its headquarter in the UK. The broker is well regulated and authorised in the United Kingdom, Cyprus, Dubai, and the Cayman Islands.
Mostly, HYCM fees are built into the spreads. The broker’s spreads on forex, stocks, indices, commodities, and cryptocurrency CFDs are rather attractive. HYCM spreads are commonly on the lower side. The broker is solely a MetaTrader broker offering 3 account types: Fixed, Raw, and Classic. It also offers Islamic accounts for its Muslim traders.
As to the broker’s paying methods, it offers multiple options: wire transfers, credit cards, Skrill, Neteller, Webmoney, China Union Pay, and Interac, depending on the region.
Best Forex Brokers for Beginners in Kuwait
We picked Go Markets as the best forex broker Kuwait for beginners.
GO Markets is a global forex broker. It was founded in 2009 and is headquartered in Australia. The broker is licensed in Australia, Cyprus, the UAE, and Seychelles. With GO Markets traders have access to hundreds of tradable instruments: Forex pairs, indices, metals, commodities, and shares.
GO Markets offers 3 account types: the Standard account, the GO Plus+ account, and the Pro account. The broker also offers Islamic accounts. GO Markets offers free and fast deposits through bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller.
We have picked Go Markets as the best forex broker Kuwait for beginners, as its educational section is rather good. It offers various MT4 tutorials, explaining in a detailed manner how to operate on the platforms. Also, traders have an access to special education courses. The courses are designed for beginner and experienced traders.
Best Stock Broker in Kuwait
We picked Pepperstone as the best stock forex broker Kuwait.
Pepperstone is an Australian Forex and CFDs broker. It was founded in 2010. The broker is regulated in Australia, the United Kingdom, Cyprus, Bahamas, the UAE, and Kenya. With Pepperstone clients have access to multiple tradable instruments: forex pairs, indices, stocks, commodities, cryptocurrencies, and a currency index.
Generally, the broker charges low fees. Only fees for cryptocurrencies are on the higher side. Looking into the spreads, we found that spreads for stocks, forex pairs, and indices are lower than the industry average. Anyway, Bitcoin spreads are almost double the industry average.
The broker offers MT4, MT5, and cTrader platforms. Though the MT4 platform is a little dated, however, MT5 and cTrader are great to conduct tradings.
Best Low Spread Forex Broker in Kuwait
We picked BlackBull Markets as the best low spread forex broker Kuwait.
BlackBull Markets is a global Forex and CFDs broker, founded in 2014. It is located in Auckland, New Zealand. The broker holds licenses in New Zealand and Seychelles. With the broker, traders have access to multiple instruments in the following categories: Forex, indices, stocks, and commodities.
BlackBull Markets offers 3 account types: the Standard Account, the Prime Account, and the Institutional Account. The broker also offers Islamic accounts for its Muslim traders. For BlackBull Markets’ traders the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available.
We have picked BlackBull Markets as the best low spread forex broker Kuwait. Based on our test, its spreads are quite favorable. For our research, we tested BlackBull Markets’ Standard Account and found out that the spreads are pretty low.
Forex Trading Companies in Kuwait List
Besides our best picks mentioned above, we have also come up with a complete list of forex brokers Kuwait.
| Forex Broker Kuwait | Islamic Account | Test Details | Broker Review |
|---|---|---|---|
| FxPro | Yes | Deposit Amount: Over €5,000 Total Trade: 15 trades | FxPro Review |
| Admiral Markets | Yes | Deposit Amount: Over €4,500 Total Trade: 12 trades | Admiral Markets Review |
| BlackBull Markets | Yes | Deposit Amount: Over €4,000 Total Trade: 12 trades | Visit BlackBull Markets |
| GO Markets | Yes | Deposit Amount: Over €4,500 Total Trade: 12 trades | Go Markets Review |
| ActivTrades | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | ActivTrades Review |
| XM | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | XM Review |
| FXTM | Yes | Deposit Amount: Over €6,000 Total Trade: 12 trades | FXTM Review |
| ICM Capital | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | ICM Capital Review |
| Tickmill | Yes | Deposit Amount: Over $8,000 Total Trade: 12 trades | Tickmill Review |
| XTB | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | XTB Review |
| RoboMarkets (RoboForex) | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | RoboMarkets (RoboForex) Review |
| Pepperstone | Yes | Deposit Amount: Over €6,000 Total Trade: 12 trades | Pepperstone Review |
| FBS | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | FBS Review |
| GKFX | Yes | Deposit Amount: Over €5,000 Total Trade: 15 trades | GKFX Review |
| Darwinex | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | Darwinex Review |
| IC Markets | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | IC Markets Review |
| ThinkMarkets | Yes | Deposit Amount: Over €5,000 Total Trade: 15 trades | ThinkMarkets Review |
| FP Markets | Yes | Deposit Amount: Over €6,000 Total Trade: 12 trades | FP Markets Review |
| Amana Capital | Yes | Deposit Amount: Over €5,000 Total Trade: 12 trades | Amana Capital Review |
| AvaTrade | Yes | Deposit Amount: Over €4,000 Total Trade: 21 trades | AvaTrade Review |
| Vantage FX | Yes | Deposit Amount: Over €5,000 Total Trade: 15 trades | Vantage FX Review |
| INFINOX | Yes | Deposit Amount: Over €4,000 Total Trade: 9 trades | INFINOX Review |
| HYCM | Yes | – | Visit HYCM |
FAQ and More on Forex Trading in Kuwait
Traders usually have many questions related to forex brokers Kuwait. We tried to pick and answer some of the most important queries related to the forex brokers available in the country.
How to Verify Kuwait Regulated Broker
In order to provide investment services and activities in Kuwait, the broker should be regulated. Regulated brokers comply with certain rules and requirements that are essential for safety and reliability. To verify a Kuwait-regulated broker is quite easy. In fact, in the country, there are three regulatory bodies that control Forex trading in Kuwait. As mentioned above, these regulatory bodies are the Central Bank of Kuwait, the Ministry of Commerce and Industry, and the Kuwait Chamber of Commerce and Industry. In fact, all the traders have to do, is check on the regulator’s website the availability of the broker they want to conduct their trades.
However, there is another option of verifying a forex broker Kuwait. Traders can check the information on the broker’s website. Generally, all forex brokers list the available and restricted countries, so it is quite easy to find the information.
Kuwait ECN Forex Brokers
ECN brokerage accounts provide traders with direct access to the automated network. These brokers are non-dealing brokers. Commonly they do not take any position against their clients’ trades.
Based on our tests we were able to come up with ECN forex brokers Kuwait:
- BlackBull Market
- FXTM
Tax in Kuwait for Forex Trading
Generally, in Kuwait Forex trading is subject to taxation. The capital gains on the sale of assets and shares by foreign shareholders are treated as normal business profits. These taxes must be paid at a 15% rate.
Traders in Kuwait should remember, that it is totally up to them to submit tax forms to the relevant institution in the country. This means, that all the implications of tax avoidance will bear the traders. Not to face further complications and fines, traders are encouraged to keep clear records and submit annual tax reports.