Top 10 Best Forex Brokers in Bangladesh for 2023

filippo ucchino Filippo Ucchino calendar Last Updated: December 2022 timer 14 Min Read

At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

In making the list of some of the best forex brokers in Bangladesh, we have taken the following factors into consideration:

  • regulated brokers accepting Bengali traders
  • local deposit and withdrawal methods
  • costs and commissions
  • the general quality of services offered
Table of Content


  1. XM: best forex broker in Bangladesh overall
  2. eToro: best social trading platform
  3. OctaFX: best educational tools overall
  4. FXTM: best for professional traders
  5. Instaforex: best for account types choice
  6. FBS: best for high-leverage
  7. FP Markets: best for overall trading experience
  8. XTB: best for educational resources
  9. AvaTrade: best for fixed spread trading
  10. Interactive Brokers: wide range of available markets


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money


1. XM

  • XM operates worldwide with oversight from several regulators in place and accepts traders from Bangladesh as well as having the local language supported on their website.
  • Various local payment methods available in Bangladesh that accept BDT deposits though they are liable for a conversion fee.
  • The XM minimum deposit in Bangladesh is $5 for micro and standard accounts.
  • The spread starts from 0 pips on over 55 forex pairs available in Bangladesh with XM.
  • You can also avail of a wide range of XM bonuses in Bangladesh. These include a $50 no deposit bonus, a 50%, and a 20% deposit bonus.
  • XM also has one of the best Islamic swap-free accounts available in Bangladesh as well.

Visit XM
73.57% of retail CFD accounts lose money

2. eToro

  • eToro holds several regulations and is active worldwide including traders from Bangladesh.
  • eToro accounts are only held in USD so deposits in Bangladesh with different currencies are subject to a conversion fee.
  • To open an eToro account there is a minimum deposit of $200 in Bangladesh.
  • eToro has an extremely wide range of assets that you can trade including more than 45 forex pairs with spreads from 1 pip.
  • User-friendly trading platform and allowing you to copy other top traders.

Visit eToro
(79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money)

3. OctaFX

  • Being regulated in Europe, OctaFX is able to welcome traders worldwide with their global branch, including Bengali traders.
  • There is a good range of local bank deposits in Bangladesh to deposit in your OctaFX account, though BDT deposits will incur a conversion fee.
  • Bengali traders can open OctaFX trading accounts with a minimum deposit of just $25.
  • Spreads at OctaFX are competitive starting from 0.2 pips on more than 35 forex pairs available in Bangladesh.
  • OctaFX offers a magnificent swap-free account in Bangladesh which is available on any account type.

Visit OctaFx
74-89% of retail CFD accounts lose money


  • FXTM accepts Bangladesh-based traders through its global entity regulated by the FSC in Mauritius.
  • FXTM offers different payment methods in Bangladesh even though deposits in BTD will entail a conversion fee.
  • To open an FXTM trading account in Bangladesh is extremely accessible with a minimum deposit starting at only $10.
  • Spreads are competitive with FXTM starting at 0 pips on more than 60 forex pairs available to Bengali traders.
  • Excellent FXTM 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 for traders in Bangladesh.

Visit FXTM
81% of retail CFD accounts lose money

5. Instaforex

  • Instaforex holds 19 awards in total, including one for being the “best broker in Asia”.
  • Bangladesh-based traders can register with the global branches of Instaforex.
  • Instaforex offers local transfers in Bangladesh so this can be great in saving you on conversion fees.
  • You will find the lowest possible Instaforex minimum deposit in Bangladesh where you can get started trading for just $1.
  • Instaforex provides trading on over 110 forex pairs to Bangladesh traders with spreads starting from 0 pips.
  • A great Instaforex swap-free account is also made available.
  • Bangladesh-based traders are eligible to get an Instaforex bonus including a 100% bonus on your first deposit.

Visit Instaforex
55.29% of retail investor accounts lose money

6. FBS

  • FBS are well trusted around the world, including in Bangladesh, and they have an especially strong reputation with Asian traders.
  • Traders from Bangladesh can register under the IFSC-regulated entity of FBS.
  • The minimum deposit at FBS starts from only $1 and you can also use local exchangers in Bangladesh.
  • FBS also has a top-quality Islamic account available in Bangladesh if you need it.
  • Spreads with FBS start from 0 pips on over 35 forex pairs available in Bangladesh.
  • FBS offers a host of bonuses available to Bangladesh that include a wide range of trading contests and a deposit bonus of 100% that can help get you started risk-free.

Visit FBS
74-89% of retail CFD accounts lose money

7. FP Markets

  • FP Markets accepts traders from Bangladesh with their SV-regulated international branch.
  • There are plenty of FP Markets payment methods available with local methods as well in Bangladesh to save up on conversion fees.
  • The FP Markets minimum deposit also remains very competitive with only $100 to get started in Bangladesh.
  • Spreads with FP Markets start from 0 pips on more than 60 currency pairs in Bangladesh.

Visit FP Markets
74-89% of retail CFD accounts lose money

8. XTB

  • XTB welcomes Bengali traders with the global entity regulated by IFSC.
  • XTB is easily accessible with no minimum deposit to worry about though there are no local payment methods in Bangladesh and BTD deposits are liable for a conversion fee.
  • Spreads with XTB are kept very competitive starting at 0.1 pips on EUR/USD and many other 45 forex pairs available in Bangladesh.
  • There is a great XTB Islamic account with dedicated contests available to Islamic traders in Bangladesh during the month of Ramadan.

Visit XTB
79% of retail CFD accounts lose money

9. AvaTrade

  • AvaTrade is able to accept traders resident in Bangladesh with their global branch which is regulated in the British Virgin Islands.
  • AvaTrade makes it very easy to start trading with a minimum deposit that starts from only $100 in Bangladesh.
  • When trading with AvaTrade you will have a fixed spread from 0.9 pips on over 60 forex pairs available in Bangladesh.
  • An excellent AvaTrade swap free Islamic trading account is also made available for Bengali traders.

Visit Avatrade
(79% of retail CFD accounts lose money)

10. Interactive Brokers

  • Interactive Brokers are regulated and very well-recognized worldwide accepting traders from Bangladesh as well.
  • There is no minimum deposit with Interactive Brokers making them extremely accessible in Bangladesh.
  • Bengali traders have a good range of deposit methods to fund their Interactive Brokers account even though BTD deposits will entail a commission fee.
  • A total of 105 currency pairs alongside a host of other assets are available with Interactive Brokers and spreads are competitive too, starting from just 0.1 pips in Bangladesh.

Visit Interactive Brokers
74-89% of retail CFD accounts lose money

Is forex trading legal in Bangladesh?

Forex trading is legal in Bangladesh. Not only is it legal but it is also regulated by the 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

Similar to 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.

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

As a Bengali trader, you are able to select from all of the leading forex brokers from around the world since BSEC regulation is not mandatory. 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?

Forex trading is taxable in Bangladesh with 15% CGT for stock-investing and trading incomes. All profits that exceed the taxable income threshold are taxable based on the income tax rate. Furthermore, it doesn’t matter whether the profits generated from forex are main income or not regarding the income tax law.

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

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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