Top 10 Best Forex Brokers in Bangladesh for 2020

Filippo Last Updated: October 2020 14 min read
Top Rated:

As a trader anywhere in the world, you will always be looking for the best fx broker you can find in order to have the best trading experience possible. If you are trading and also looking for the best forex broker in Bangladesh, then you have searched in the right place.

Here we will take a closer look at the exact rules and regulations around forex trading in Bangladesh, as well as provide some of the top forex brokers operating for traders in the country so you can make the best broker choice possible.

Is Forex Trading legal in Bangladesh?

This is a very common initial question to ask. Gladly, the answer is yes, forex trading is legal in Bangladesh. Not only is it legal but it is also regulated by BSEC (Bangladesh Securities and Exchange Commission).

With that said however, BSEC regulation is not mandatory for brokers in the country, and they can offer forex trading and CFDs if they are regulated within their own country. This is a positive in that it opens up the country a lot to well-regulated international forex brokers, and you will typically find that Bengali traders prefer to register with EU/UK brokers regulated by CySEC, and the FCA for their improved safety environment.

How to trade forex in Bangladesh

Getting started as a forex trader with any of these brokers in Bangladesh should be no trouble at all. Similar with almost every other country, you will just have to upload a few documents to verify your account. These include a copy of your ID, and proof of your residence.

Typically, a passport, and a recent utility bill or bank statement will satisfy this requirement. You will then have to fund your account with the chosen broker after completing the verification process.

Top 10 Best Forex Brokers in Bangladesh

Here is a rundown of the ten top forex brokers in Bangladesh that we have found:

Open an account
73.57% of retail investor accounts lose money

1. XM

The first forex broker to make our listing as one of the best in Bangladesh, is XM. They are not only one of the best in the country, but one of the top brokers worldwide. They offer an excellent range of account type choices for you as a trader and are extremely well-regulated.

With the different account types, you can find the lowest minimum deposit available on standard, and XM Micro account types, while the spread at the broker is also hugely competitive. This spread starts from the very bottom at 0 pips. On top of that, you can also avail of a wide range of bonuses at the broker. These include a $30 no deposit bonus, a 50%, and 20% deposit bonus, as well as a very rewarding loyalty program and trading contests where you can trade risk-free but win real prizes. They also have one of the best Islamic swap free accounts in the sector and are a widely popular broker choice.

76
Rated: Excellent
security 96
cost 75
trading 55
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, CYSEC Minimum Deposit: $5
Open an account
75% of retail investor accounts lose money

2. eToro

The king of social trading, eToro is the next broker to make our listing as one of the best in Bangladesh. They are a household name in the industry, and provide a very safe, and transparent trading environment throughout.

Here you can take advantage of an unlimited demo account to get you started, and a $200 minimum deposit amount which is competitive with other top brokers. Where eToro really excels is in providing you with a user-friendly trading platform, one of the best around, and allowing you to copy other top traders. Perfect if you are into copy trading. They also have an extremely wide range of assets which you can trade in, and competitive fees. The only point to note here on the downside is that they only cater for a USD base currency and payments. This means you will always incur a conversion fee, but it is small enough not to make a big difference.

77
Rated: Excellent
security 93
cost 64
trading 71
education 72

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit:
Open an account
74-89% of retail CFD accounts lose money

3. OctaFX

OctaFX is the next top broker to make the list of the best available in Bangladesh. They also offer a magnificent swap-free account which is available on request and is one of the most reputed in the sector. The popular broker also keeps things very affordable with a $100 minimum deposit possible.

On the same note, the spreads at OctaFX are extremely competitive too. These start at 0 pips depending on your account type choice and you also have the pick of top trading platforms to choose from here. MT4, MT5, and cTrader are all available as is a great 50% deposit bonus on each and every deposit you make at the broker. When it comes to the process of making these deposits, that too is well catered for with a top range of local deposit methods available so you may have the chance to save on some conversion fees.

72
Rated: Excellent
security 96
cost 60
trading 52
education 77

Platforms: cTrader desktop, cTrader web, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC Minimum Deposit: $100
Open an account
81% of retail investor accounts lose money

4. FXTM

FXTM is the next top international broker to make the list of the top Bangladesh brokers you can choose from. They make things extremely accessible to all traders with a top value minimum deposit starting at only $10. This is very competitive from a top, trusted broker to get you trading.

Once you get started you will also find that the broker caters for several account type choices to meet your needs. This includes a good value ECN account type with lightning speed execution from a minimum deposit of $200. Spreads too are competitive starting at 0 pips, while trading is done through the popular Metatrader 4. There is also an excellent Islamic trading account available should you need it. While there is no bonus offering directly available at FXTM, there is a very rewarding loyalty program in place which can reduce your trading costs the more you trade over time.

74
Rated: Excellent
security 96
cost 58
trading 54
education 100

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, Proprietary Web Platform Regulations: FCA, MIFID-ESMA, FSB, CYSEC, FSC (Mauritius) Minimum Deposit: $100
Open an account
61.14% of retail investor accounts lose money

5. Instaforex

Next up as a featured top broker in Bangladesh is Instaforex. They are well-known around the world and have a trusted reputation in Asia as well as being multi-award winning. They hold 19 awards in total, including one for being the “best broker in Asia”.

Here you will find the lowest possible minimum deposit where you can get started trading for just $1. This even applies to ECN accounts through the broker, so there is great accessibility. Added to this you will find that many local payment methods are accepted so this can be great in saving you on conversion fees.

A great swap free account is also made available alongside 4 bonus offers. These bonus offers include a 100% bonus on your first deposit so you can get started trading with ease and work to reduce your risk at the same time. This excellent range of features and offers are just some of the reasons why Instaforex is one of the most popular broker choices in the industry.

73
Rated: Excellent
security 96
cost 59
trading 57
education 78

Platforms: Mirror Trader, ZuluTrade, MT5 Desktop, Proprietary Web Platform Regulations: MIFID-ESMA, CYSEC, FSC (British) Minimum Deposit: $1
Open an account
74-89% of retail CFD accounts lose money

6. FBS

Next to feature on our listing of top Bangladesh brokers is another global name in the sector. FBS are well trusted around the world, including in Bangladesh, and they have an especially strong reputation with Asian traders.

One of the major perks is the fact you can get started from an extremely low point. The minimum deposit at FBS starts from only $1, and they also have a top-quality Islamic account available too if you need it. ECN trading is also offered with very fast execution from a minimum deposit of $1,000 while trading is done through the major trading platforms, though you will also have a chance to engage in copy trading through the FBS proprietary trading platform if you wish.

Spreads with the broker start from 0 pips and they are very well known to offer a host of bonuses that include a wide range of trading contests and a deposit bonus of 100% that can help get you started risk-free.

74
Rated: Excellent
security 95
cost 72
trading 51
education 81

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $1
Open an account
74-89% of retail CFD accounts lose money

7. FP Markets

FP Markets are next on the list and this top Australian broker, founded in 2005, is also a popular available choice with traders in Bangladesh. The market maker broker operates with an ECN/STP execution style to ensure the fastest access to the market at the best possible prices for traders.

The FP Markets minimum deposit also remains very competitive. You need only $100 to get started with a standard account, or anywhere from $1,000 to $50,000 if you are interested in CFD stockbroking which is also offered through FP Markets. With this accessibility comes access to a very wide range of markets, and all at extremely competitive costs with a spread starting from 0 pips.

These top conditions have worked to push FP Markets forward as not only a top forex broker choice in Bangladesh, but also around the world.

77
Rated: Excellent
security 95
cost 62
trading 70
education 71

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Desktop Platform, MAC Platforms Regulations: ASIC Minimum Deposit: $200
Open an account
80% of retail investor accounts lose money

8. XTB

XTB is the next international name to make our selection of the best Bangladesh forex broker choices. They are one of the best brokers when it comes to continued training and education, a huge part of any forex trading experience. They offer a wide range of lessons from low to high levels in this regard.

Here you will find a broker which is easily accessible with no minimum deposit to worry about, and spreads which keep them very competitive starting at 0.2 pips. You can also look forward to trading a range of account types, including a great Islamic account, through the MT4 trading platform. Another attractive point for Islamic trading are the dedicated contests available to Islamic traders during the month of Ramadan. The comprehensive training, accessibility, and contest offering, making up for the fact there are no other bonuses available from XTB.

74
Rated: Excellent
security 96
cost 55
trading 59
education 83

Platforms: Mirror Trader, Proprietary Desktop Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, CYSEC, Offshore Minimum Deposit: $250
Open an account
74-89% of retail CFD accounts lose money

9. Interactive Brokers

Interactive Brokers also make the listing of top brokers Bangladesh has to offer. They are also regulated worldwide and very well-recognized. They are even regulated in neighboring India by SEBI. Here too you will find a top international broker who is extremely accessible with no minimum deposit.

Beyond this, you can choose to trade in a huge range of forex pairs at the broker. A total of 105 currency pairs alongside a host of other assets are available to choose from. The spreads are competitive too, starting from just 0.1 pips on many markets.

Among the other asset choices to trade in here is a wide range of stocks with very low commission charged. This makes IB an excellent choice particularly if you are looking to trade in either forex or stocks from Bangladesh or other parts of the world.

72
Rated: Excellent
security 95
cost 68
trading 47
education 80

Platforms: Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: MAS, FCA, CFTC, MIFID-ESMA, ASIC, IIROC, SEC, CYSEC, Offshore Minimum Deposit:
Open an account
79% of retail investor accounts lose money

10. AvaTrade

Last but certainly not least on our listing of the best forex brokers in Bangladesh, is another worldwide star in the industry. AvaTrade are a top European broker who are very well-respected and regulated by the Central Bank of Ireland where they are based.

Here, alongside a strong history of compliance and trusted reputation, you will find a broker who makes it very easy to start trading with a minimum deposit that starts from only $100. They are also one of the few brokers who offer you a fixed spread when trading in some markets. This is ideal for knowing your trading costs. An excellent swap free Islamic trading account is also made available.

No only that, but despite the fact there are no bonuses made available, spreads and trading costs here are very competitive starting from only 0.9 pips, and the broker also offers an excellent choice of trading platforms to suit all needs no matter your experience level.

80
Rated: Excellent
security 93
cost 74
trading 75
education 63

Platforms: Mirror Trader, ZuluTrade, MT4 Web, MT5 Web, Proprietary Web Platform, MAC Platforms Regulations: FSA, MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British) Minimum Deposit: 100

Bengali trader? Here’s what to look for in a forex broker

As a Bengali trader, you have a uniquely positive position. You are able to select from all of the leading forex brokers from around the world since BSEC regulation is not mandatory. With that said, there are still a few tips and things that you should be mindful of when making your broker choice.

1. Try to avoid offshore regulated brokers

For the safest experience possible, it is best to steer clear of any offshore regulated brokers. These choices may be more flexible when it comes to the trading environment and areas like increased leverage which can be suited to some, but for the most secure trading environment, brokers regulated by CySEC, the FCA, and ASIC are great choices.

2. Look for brokers allowing Bengali payment methods

Even though VIsa and Mastercard payments are international, not every broker will accept payments in your local currency. Some may offer local internet banking, particularly in Asian countries, to help you deposit in your local currency, though if you cannot, you may need to pay a conversion fee since international brokers never feature the Bangladeshi Taka as a supported base currency.

3. Choose a broker with a great demo account if you are a beginner

Particularly if you are starting out in trading, get some practice through a demo account. Trading can be risky, and this risk is amplified when trading on leverage. Opening a demo account with one of these brokers gives you the chance to practice and improve your skills completely risk-free.

How to verify if a forex broker is regulated in Bangladesh

There are a few simple steps that you can take if you wish to verify that your broker is regulated in Bangladesh. The first of these is to go to the official BSEC website. But since this isn’t mandatory, we recommend you check if brokers are ESMA compliant, ASIC or FCA regulated. You can do this through the following links depending on where your broker is regulated, noting that European brokers are typically registered under CySEC.

Is forex trading taxable in Bangladesh?

Yes, forex trading is taxable in Bangladesh. There is a 15% capital gains tax applied to profits from trading and stock investing in the country.

We are not professional tax advisors, thus we strongly suggest you contacting local authorities if you don’t know how to manage this aspect


image-banner-example-scaled
Keeping you better informed

Find and compare the best
Online brokers for you

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
Copyright © 2020 – All rights reserved. / Privacy Policy / Basic Terms of Use / Sitemap