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The country Qatar is a small yet affluent nation located on the northeastern coast of the Arabian Peninsula.

Qatar has marked its presence prominently in global financial markets due to its vast reserves of natural gas and oil. As one of the world’s leading exporters of liquefied natural gas (LNG), Qatar has accumulated significant wealth, positioning itself as a pivotal player in international investment and financial activities.

The official currency of Qatar is the Qatari Riyal (QAR).

When it comes to the regulatory framework, retail forex trading is not directly regulated by any regulatory body. This means that Qatari traders can register with any broker.

In order to evaluate some of the best forex brokers in Qatar, we took the following elements into consideration:

  • Brokers that are regulated and accept clients from Qatar
  • The availability of the Arabic language
  • The quality of the Islamic account offered
  • The trading services offered
Table of Content

What are the best forex brokers in Qatar?

Below is our curated list of the best forex brokers for traders living in Qatar, with details and information about the country laws, the features, and the characteristics.


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 : No requotes

  • XM accepts traders based in Qatar under FSC regulation with license n° 000261/397 and their website supports the Arabic language.
  • Islamic accounts are provided for any XM account type available in Qatar and there are no fees to replace swaps.
  • Forex trading with XM offers around 50 currency pairs in Qatar.
  • Spread on forex starts from 0.1 pips and leverage with XM in Qatar is up to 1000:1 on majors.
77,37% of retail investor accounts lose money

2. HFM : best trading features

  • HFM is regulated by the FSC in Saint Vincent and the Grenadines, accepts Qatar residents under license n° 22747 IBC 2015, and supports the Arabic language on their website.
  • The HFM account types available as Islamic are micro, premium, auto, and zero spread.
  • HFM provides more than 50 forex pairs in Qatar.
  • Spread on forex with HFM starts from 0.1 pips on EUR/USD though it can be higher on Islamic accounts in Qatar.
  • HFM offers leverage up to 1000:1 on forex majors to all traders in Qatar.
70.51% of retail investor accounts lose money

3. FxPro : best customer service

  • Qatar-based traders can apply to FxPro under SCB regulation n° SIA-F184 and the broker supports the Arabic language on its website.
  • FxPro offers swap-free accounts on request for religious purposes though fees are charged for open positions for a specific number of days.
  • Forex trading with FxPro in Qatar is open for more than 70 currency pairs.
  • FxPro charges different spreads starting from 0.6 pips on EUR/USD and leverage up to 200:1 for Qatari traders.
72.87% of retail investor accounts lose money

4. IG Markets : total number of assets

  • Qatari traders are welcome at IG Markets under BMA regulation n° 54814 with Arabic language provided on their website.
  • Unfortunately, IG Markets no longer offers any Islamic trading account.
  • IG Markets offers a wide range of markets including over 70 forex pairs in Qatar.
  • Spread on forex starts from 0.6 pips on EUR/USD with IG Markets and leverage in Qatar is up to 200:1.
70% of retail CFD accounts lose money

5. Pepperstone : best for day traders & scalpers

  • Pepperstone accepts traders from Qatar under SCB regulation n° SIA-F217 with Arabic language available on their website.
  • Islamic accounts are available with Pepperstone though you may be charged a small fee for replacing the swap.
  • Pepperstone provides forex trading on more than 60 pairs in Qatar.
  • Spread on Pepperstone starts from 0 pips on EUR/USD and leverage in Qatar is up to 500:1 on majors.
74-89% of retail investor accounts lose money when trading CFDs

6. eToro : best social trading platform

  • Traders from Qatar can open eToro accounts under FSA regulation in the Seychelles, under license n° SD076. The broker website also has the Arabic language available.
  • eToro offers Islamic accounts to traders in Qatar though there’s a minimum deposit of $1,000.
  • Forex trading with eToro is available in more than 45 pairs in Qatar.
  • eToro charges only floating spreads from 1 pip on forex while leverage in Qatar is up to 400:1.
77% of retail investor accounts lose money

7. AvaTrade : best fixed spread trading

  • The AvaTrade entity regulated under BVI FSC is able to accept residents from Qatar with a license n° SIBA/L/13/1049 and provides a website supporting the Arabic language.
  • Islamic accounts are welcome at AvaTrade though you will find an administration fee replacing swap.
  • AvaTrade offers over 50 forex pairs to trade as CFDs in Qatar.
  • AvaTrade provides fixed spreads from 0.9 pips on EUR/USD and leverage up to 400:1 for Qatari traders.
79% of retail investor accounts lose money

8. IC Markets : overall trading experience

  • IC Markets welcomes traders from Qatar under FSA regulation n° SD018 and provides Arabic support on their website.
  • A swap-free option is available for any IC Markets account in Qatar.
  • IC Markets in Qatar offers forex trading on over 60 currency pairs.
  • The minimum spread with IC Markets is 0 pip with EUR/USD and the maximum leverage is up to 500:1 in Qatar.
74-89% of retail CFD accounts lose money

9. Oanda : best for algo traders

  • Qatar-based traders can register with OctaFX under the FSC of the Saint Vincent and the Grenadines with license n° 19776 and the Arabic language is available on the website.
  • OctaFX enables the Islamic trading on accounts without any fee replacing swap.
  • Qatar traders have access to more than 35 forex pairs available with OctaFX.
  • The spread with OctaFX starts from 0.2 pips on EUR/USD and leverage is up to 500:1 on forex majors in Qatar.
CFDs are not available to residents in the United States

10. Oanda : best for beginners

  • Oanda accepts Qatar residents under BVI FSC oversight with license n° SIBA/L/20/1130 and provides Arabic language on their website.
  • Islamic accounts are available to Qatari traders with Oanda with a small fee for open trades for more than 5 days.
  • Forex trading with Oanda offers over 70 forex pairs or 12 pairs on Islamic accounts in Qatar.
  • Spread is only floating with Oanda and it starts from 0.6 pips on EUR/USD or 1.6 for swap-free options while leverage is up to 400:1 in Qatar.
CFDs are not available to residents in the United States

Is forex trading legal in Qatar?

Forex trading is legal in Qatar. Even though it is not directly regulated there, Qatari traders can register with any broker as long as both parties are respecting the local laws.

An example of this would be that brokers must offer some type of Islamic account and trading in cryptocurrencies, along with spread betting is not allowed.

How to trade forex in Qatar

The procedure for starting to trade with a broker in Qatar is very much the same as it is in other countries though it may vary slightly from place to place. Typically, you will choose your broker, follow the sign-up process by entering some personal information, and require the following to verify your account.

A form of ID, likely a passport being the best choice, to confirm your identity. Along with this, you will need a proof of address documents like a utility bill or bank statement dated recently. These will enable you to pass the broker verification process where you will be then asked to fund your account and request an Islamic trading account from the broker.

What should Qatari traders look for in a forex broker?

As with trading in any country, there are a few things to look out for in a forex broker as a Qatari trader. Not least is the fact that spread betting is banned as it is considered Haram under Islamic Law. Aside from that, here are three of the other most helpful tips:

1. Always look for regulated brokers

Trading with a regulated broker is a must. Always look out for one with solid regulation from the EU, UK, or Australia in place. Brokers regulated by the neighboring DFSA in Dubai are also an excellent and trusted choice.

2. Choose the best swap-free account

Trading with a broker, you will often be trading in CFDs or perhaps with other leveraged assets. Typically, you would pay or receive a swap, or overnight fee if the positions were held open overnight. This is a form of interest and not permitted under Islamic law.

Instead, look for the best swap-free, also known as Islamic accounts. These will remove the overnight fees and sometimes replace them with a fixed fee instead but will be fully compliant with the law.

If you want to know more about Islamic accounts and Islamic trading you should check out our best forex brokers with swap free accounts selection.

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

Trading forex, just like any other asset, carries a degree of risk. It is important then, particularly if you are new to trading, that you test out the broker through a demo account. These are totally risk-free, replicate a real trading environment for you to learn in, and are offered by almost all brokers with no obligation.

How to verify if a forex broker is regulated in Qatar

Since there are no locally regulated brokers, you will have to double-check your brokers’ regulatory status on one of the official websites belonging to the regulator they are operating under.

For Dubai-regulated brokers, you can check the DFSA official website for information while you can have a look at the ESMA (EU) firms register, select the country the broker is registered in, and check if it is really registered in that country if they are regulated under ESMA.

For UK-regulated brokers, there is the FCA official website and the ASIC official website is where you can find more on your Australian-regulated brokers.

Is forex trading taxable in Qatar?

Forex trading in Qatar you should be aware that they do have a Capital Gains Tax in operation. You may be liable for this tax on profits made while trading. The CGT rate is 10%.

We are not tax advisors, contact Qatari authorities if you don’t know how to manage this aspect of your trading or you have any tax-related questions.

filippo ucchino

About The Author

Filippo Ucchino
Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. 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.

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.
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