The best Forex brokers in Bangladesh, according to our research, are:
- XM
- FP Markets
- AvaTrade
- OctaFX
- FXTM
- Instaforex
- FBS
- XTB
- Interactive Brokers
In making the list of some of the top Bangladesh Forex brokers, 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
What are the best forex brokers in Bangladesh?
Below is our curated list and review of the best Forex brokers for traders living in Bangladesh, with details and information about the country laws, the features, and the characteristics.
Warning
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.
XM
best forex broker in Bangladesh overall
XM operates globally. XM supports Bengali traders, accepting Bangladeshi Taka deposits. XM offers a $5 minimum deposit. XM provides 0 pip spreads on 55 forex pairs. XM offers bonuses and an Islamic swap-free account in Bangladesh.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- 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.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
FP Markets
best for overall trading experience
FP Markets serves Bangladeshi traders through its international branch. FP Markets offers local payment options. FP Markets requires a $100 minimum deposit in Bangladesh. FP Markets starts spreads from 0 pips on 70 currency pairs.
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About FP Markets
FP Markets is an Australian-based global forex and CFD broker founded in 2005. FP Markets offers trading on over 10,000 instruments including forex, stocks, indices, commodities, and cryptocurrencies. FP Markets provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FP Markets is regulated by multiple authorities including ASIC, CySEC, and FSA. FP Markets is known for tight spreads, fast execution, and extensive educational resources. The FP Markets CEO is Craig Allison.
FP Markets Features
The features of FP Markets are listed below.
- 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 70 currency pairs in Bangladesh.
FP Markets Pros and Cons
Advantages of FP Markets
The advantages of FP Markets are listed below.
- Broad Instrument Offering
- Competitive Spreads
- Multiple Trading Platforms
Disadvantages of FP Markets
The disadvantages of FP Markets are listed below.
- High Fees for International Withdrawals
- Outdated Platform Design
AvaTrade
best for fixed spread trading
AvaTrade accepts Bangladeshi traders. AvaTrade operates under British Virgin Islands regulation. AvaTrade requires a $100 minimum deposit in Bangladesh. AvaTrade offers fixed spreads from 0.9 pips on 60 forex pairs.
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About AvaTrade
AvaTrade is a global forex and CFD broker founded in 2006 and headquartered in Dublin, Ireland. AvaTrade offers trading on currencies, commodities, indices, stocks, bonds, ETFs, and cryptocurrencies. AvaTrade provides proprietary platforms alongside MetaTrader 4 and 5. AvaTrade is regulated by multiple authorities including CySEC, ASIC, and FSA. AvaTrade serves over 300,000 clients worldwide. AvaTrade is known for competitive spreads and extensive educational resources. The AvaTrade CEO is David Dryzin since 2016.
AvaTrade Features
The features of AvaTrade are listed below.
- 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.
AvaTrade Pros and Cons
Advantages of AvaTrade
The advantages of AvaTrade are listed below.
- Tight fixed spreads from 0.6 pips (0.9 pips for retail traders)
- The mobile apps are well designed
- Can be connected to ZuluTrade and Duplitrade
Disadvantages of AvaTrade
The disadvantages of AvaTrade are listed below.
- High inactivity fees
- The demo account is limited to 30 days
OctaFX
best educational tools overall
OctaFX welcomes Bengali traders with its global branch. OctaFX supports local bank deposits. OctaFX requires a $25 minimum deposit in Bangladesh. OctaFX starts spreads at 0.2 pips on 35 forex pairs.
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About OctaFX
Octa, formerly known as OctaFX, is a global forex and CFD broker founded in 2011. Octa offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. Octa is regulated by multiple authorities including CySEC. Octa is known for competitive spreads, extensive educational resources, and copy trading services. Octa serves clients in over 100 countries worldwide.
OctaFX Features
The features of OctaFX are listed below.
- 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.
OctaFX Pros and Cons
Advantages of OctaFX
The advantages of OctaFX are listed below.
- Low Trading Costs
- Robust Educational Resources
- Multiple Trading Platforms
Disadvantages of OctaFX
The disadvantages of OctaFX are listed below.
- Limited Asset Range
- No VIP Discounts
- Restrictions on High-Frequency Trading
FXTM
best for professional traders
FXTM serves Bangladesh-based traders through its Mauritius entity. FXTM requires a $10 minimum deposit. FXTM offers 0 pip spreads on 60 forex pairs. FXTM supports Bangladeshi currency deposits.
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About FXTM
FXTM, also known as ForexTime, is a global forex and CFD broker founded in 2011. FXTM offers trading on currencies, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4, MetaTrader 5, and proprietary platforms. FXTM is regulated by multiple authorities including CySEC, FCA, and FSC Mauritius. FXTM is known for low spreads, fast execution, and extensive educational resources. FXTM serves over 2 million clients worldwide. The FXTM CEO is Nicholas Defteras.
FXTM Features
The features of FXTM are listed below.
- 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.
FXTM Pros and Cons
Advantages of FXTM
The advantages of FXTM are listed below.
- User-Friendly Platform
- Fast Customer Support
- Low Minimum Deposit
Disadvantages of FXTM
The disadvantages of FXTM are listed below.
- Withdrawal Fees
- Limited Product Range
- Inactivity Fees
Instaforex
best for account types choice
Instaforex accepts Bangladeshi traders through global branches. Instaforex provides local transfer options. Instaforex requires a $1 minimum deposit. Instaforex offers trading on 110 forex pairs starting from 0 pip spreads.
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About Instaforex
InstaForex is a global forex and CFD broker established in 2007, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. InstaForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. InstaForex is regulated by the Financial Services Commission (FSC) of the British Virgin Islands. InstaForex serves over 7 million clients worldwide and is known for competitive spreads, extensive educational resources, and various account types. InstaForex offers copy trading and PAMM accounts.
Instaforex Features
The features of Instaforex are listed below.
- 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.
Instaforex Pros and Cons
Advantages of Instaforex
The advantages of Instaforex are listed below.
- Beginner-Friendly
- Wide Range of Instruments
- Advanced Trading Tools
Disadvantages of Instaforex
The disadvantages of Instaforex are listed below.
- Outdated Website Design
- Limited Trading Instruments
- Customer Support Limitations
FBS
best for high-leverage
FBS registers Bangladeshi traders under FSC (Belize). FBS offers a $5 minimum deposit. FBS provides local exchangers. FBS starts spreads from 0.7 pips on 72 forex pairs in Bangladesh.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- 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 FSC-regulated (Belize) entity of FBS.
- The minimum deposit at FBS starts from $5 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 0.7 pips on over 72 forex pairs available in Bangladesh.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
XTB
best for educational resources
XTB welcomes Bengali traders through the IFSC-regulated global entity. XTB requires no minimum deposit. XTB starts spreads at 0.1 pips on forex pairs. XTB has no local payment methods in Bangladesh.
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Avg. EUR/USD Spread:
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About XTB
XTB is a global forex and CFD broker founded in 2002 and headquartered in Poland. XTB offers trading on over 2,000 instruments including currencies, stocks, indices, commodities, and cryptocurrencies. XTB provides the proprietary xStation platform and is regulated by multiple authorities including FCA, CySEC, and KNF. XTB is listed on the Warsaw Stock Exchange and serves over 897,500 clients worldwide. The XTB CEO is Omar Arnaout since March 2017.
XTB Features
The features of XTB are listed below.
- 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.
XTB Pros and Cons
Advantages of XTB
The advantages of XTB are listed below.
- No minimum deposit
- Wide selection of assets
- Competitive trading costs
Disadvantages of XTB
The disadvantages of XTB are listed below.
- Small withdrawal fee
- No social or copy trading
- XTB demo account is limited to 30 days
Interactive Brokers
wide range of available markets
Interactive Brokers accepts Bangladeshi traders. Interactive Brokers requires no minimum deposit. Interactive Brokers offers various deposit methods. Interactive Brokers provides 105 currency pairs with spreads starting at 0.1 pips.
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About Interactive Brokers
Interactive Brokers is a global electronic broker founded in 1978, offering trading in stocks, options, futures, forex, bonds, ETFs, and cryptocurrencies across 150 markets in 33 countries. Interactive Brokers provides advanced trading platforms, low commissions, and access to a wide range of financial instruments. Interactive Brokers is known for its sophisticated technology and serves both retail and institutional clients. Interactive Brokers is regulated by multiple top-tier authorities worldwide. The CEO of the Interactive Brokers Group is Milan Galik.
Interactive Brokers Features
The features of Interactive Brokers are listed below.
- 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.
Interactive Brokers Pros and Cons
Advantages of Interactive Brokers
The advantages of Interactive Brokers are listed below.
- Low Trading Fees
- Advanced Trading Tools
- Wide Market Access
Disadvantages of Interactive Brokers
The disadvantages of Interactive Brokers are listed below.
- Not user-friendly
- No MetaTrader Support
- Additional Fees
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.
What should Bengali traders 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.