Best Forex Brokers in Kuwait for 2024

Written by Zornitsa Stefanova
Zornitsa Stefanova is experienced forex and crypto analyst. She also covers various financial topics such as stocks trading and retirement investments.
, | Updated: May 15, 2024

Perched on the northern edge of Eastern Arabia, Kuwait is among the most affluent countries in the world in terms of income per capita. The country’s thriving economy is primarily driven by the production and export of petroleum, although the tourism, finance, and technology sectors also contribute significantly to its wealth. Foreign exchange transactions are part of day-to-day life in Kuwait as expatriates account for over 70% of the population.

Forex trading is understandably a popular form of investment in the country, with a growing number of brokerages offering their services to Kuwaiti residents. Most of these companies are licensed and regulated in other jurisdictions, catering to Kuwaitis with Islamic accounts, secure funding options, and websites in the Arabic language. After extensive research, Best Brokers identified the top-ranking sites where Kuwaitis can trade forex with confidence and ease. We tested their services with live accounts to ensure all shortlisted brokers deliver superior trading experience, tight spreads, and excellent order execution.

1Fusion Markets
Rating: 4.6 ⭐
74-89% of retail CFD accounts lose money
2Global Prime
Rating: 4.1 ⭐
74-89% of retail CFD accounts lose money
3FP Markets
Rating: 4.8 ⭐
73.85% of retail CFD accounts lose money
4easyMarkets
Rating: 4.5 ⭐
71% of retail investor accounts lose money
5Pepperstone
Rating: 4.5 ⭐
75.5% of retail investor accounts lose money
6Tickmill
Rating: 3.4 ⭐
70% of retail investor accounts lose money
7Forex.com
Rating: 4.7 ⭐
77.7% of retail investor accounts lose money
8BlackBull Markets
Rating: 3.6 ⭐
9Spreadex
Rating: 4.4 ⭐
64% of retail investors lose money
10Capital.com
Rating: 4.2 ⭐
75% of retail investor accounts lose money

Kuwaiti Forex Brokers Ranked by Trustpilot Score

Kuwaiti Forex Brokers Ranked by Spread Commission

Forex BrokerEURUSDUSDJPYEURGBPGBPUSD
1. Tickmill0.10.10.40.3
2. BlackBull Markets0.10.20.70.4
3. FP Markets0.100.300.300.30
4. Fusion Markets0.110.130.150.11
5. Global Prime0.130.280.280.22
6. Spreadex0.690.90.8
7. Capital.com0.61021.3
8. easyMarkets0.71.01.00.9
9. Pepperstone1.01.01.21.0
10. Forex.com11.21.31.3

Kuwaiti Forex Brokers Ranked by Commission per Lot

Forex BrokerCommission per lot
1. easyMarkets$0
2. Forex.com$0
3. Spreadex$0
4. Capital.com$0
5. Fusion Markets$2.25 per lot
6. FP Markets$3 per lot
7. Tickmill$3 per lot
8. BlackBull Markets$3 per lot
9. Global Prime$3.50 per lot
10. Pepperstone$3.50 on FX CFDs traded via Razor accounts

Important Note: Forex brokers must gain approval from the Capital Markets Authority to do business with customers from Kuwait. However, many Kuwaiti traders turn to international brokers authorized in other jurisdictions, as the number of locally approved broking firms remains limited for the time being.

Top 10 FX Brokers in Kuwait

  1. TRADE NOW74-89% of retail CFD accounts lose money
    Fusion Markets Broker Details
    RegulatorsASIC, Financial Services Authority of Seychelles, VFSC
    Min DepositNo min deposit
    Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade
    Trustpilot Rating4.6 out of 1409 reviews
    Number of Forex Pairs to TradeOver 200
    LeverageForex & Metals: 500:1
    Index CFDs: 100:1
    Cryptocurrencies: 10:1
    SpreadEURUSD: 0.11
    USDJPY: 0.13
    EURGBP: 0.15
    GBPUSD: 0.11
    Forex Commission per Lot per Trade$2.25 per lot
    Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire
    Withdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple

    Founded by Australian trading experts, Fusion Markets was launched in 2017 and is currently one of the top destinations for traders all over the globe. While it is common for brokers to advertise low spreads, Fusion Markets was actually recognized by Brookerchooser, receiving the award “Lowest Spread Forex Broker” four years in a row.

    In addition to offering traders tight spreads, Fusion Markets is committed to offering the best value for your trading, charging a significantly low commission of only $2.25 per lot ($4.50 per side). As you can see, const-effectiveness is one of the main values of this top-shelf broker.

    Safety is always a priority for Fusion Markets, with major regulatory bodies like the Australian Financial Services (license No.385620), the Financial Services Authority of Seychelles (license No.SD096), and authorities in Vanuatu regulating the services provided by the broker. Under ASIC’s (Australian Securities & Investments Commission) regulation, the broker also provides a negative balance protection to some of its clients.

    With no minimum on deposits and a wide range of popular trading platforms like MetaTrader4, MetaTrader5, cTrader, and more, it is no surprise that Fusion Markets is one of the top choices of traders. With an average score of 4.6 out of 5 on Trustpilot, this broker has received an Excellent rating from more than 1,300 happy customers.

    Key Pros

    • Offers some of the lowest spreads
    • ASIC clients enjoy a negative balance protection
    • Supports popular trading platforms
    • Offers two copy trading platforms
    • Supports fiat and crypto payment solutions

    Key Cons

    • Does not offer investor protection
    • Traders outside Australia have no negative balance protection
    • Cannot set up an account in a minor currency
  2. TRADE NOW74-89% of retail CFD accounts lose money
    Global Prime Broker Details
    RegulatorsASIC (No. 385620), VFSC (No. 40256)
    Min Deposit$0 (No min. deposit requirements)
    Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 Android
    Trustpilot Rating4.1 out of 100 reviews
    Number of Forex Pairs to Trade56
    LeverageForex & Metals: 500:1
    Index CFDs: 100:1
    Cryptocurrencies: 10:1
    SpreadEURUSD: 0.13
    USDJPY: 0.28
    EURGBP: 0.28
    GBPUSD: 0.22
    Forex Commission per Lot per Trade$3.50 per lot
    Deposit Methods

    Visa, Mastercard, PayPal, Skrill, Neteller, Dragonpay, VNPay, Gate8, FasaPay, PromptPay, Pagsmile, QR Code (THB), BPAY, POLi, AstroPay, Bank Wire Transfer, Interac, Perfect Money, PayID, MiFinity, Jeton, XPay, Cryptocurrencies

    Withdrawal Methods

    Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies

    Global Prime is a reliable brokerage that has been providing low-cost trading services since 2010. Regulated by the watchdogs of Vanuatu and Australia, the broker facilitates trading with over 150 financial instruments, including indices, bonds, commodities, cryptocurrencies, and more than 50 currency pairs. Major-pair spreads on raw accounts start at zero pips, with most orders being executed within 10 milliseconds on average. The broker works with MT4 only but plans to soon expand its range of supported platforms with cTrader, MT5, and TradingView.

    These excellent trading conditions, coupled with a streamlined registration process, fee-free transactions to and from customer accounts, and round-the-clock support, have earned the broker a solid 4.1 score on Trustpilot. Still, there is scope for improvement as the company offers no cent and swap-free accounts for Islamic customers. The broker has no compensation scheme for client funds, either, which is yet another area Global Prime could improve in.

    Key Pros

    • Overseen by a top-tier financial regulator (ASIC)
    • No fees on deposits and withdrawals
    • Low fees for FX trading
    • Streamlined sign-up process
    • A broad range of currency pairs

    Key Cons

    • Could use more trading platforms
    • A limited range of educational resources
    • Does not offer Islamic or cent accounts
  3. TRADE NOW73.85% of retail CFD accounts lose money
    FP Markets Broker Details
    RegulatorsAFS (License No. 286354), CySEC (License No. 371/18)
    Min Deposit$50
    Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, IRESS
    Trustpilot Rating4.8 out of 6143 reviews
    Number of Forex Pairs to Trade63
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 50:1
    SpreadEURUSD: 0.10
    USDJPY: 0.30
    EURGBP: 0.30
    GBPUSD: 0.30
    Forex Commission per Lot per Trade$3 per lot
    Deposit MethodsVisa, mMastercard, BPay, PayID, PayPal, Neteller, Skrill, Broker to Broker
    Withdrawal MethodsVisa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal

    FP Markets is a broker that joined the online trading scene in 2005, making it a well-experienced brand, offering great trading conditions for all of its clients. Traders from multiple markets will have the chance to trade a decent number of currency pairs as well as numerous CFDs. Some of the biggest perks FP Markets offers to traders include competitively low spreads, popular trading platforms, and a great selection of tools suitable for beginners.

    To offer an equally smooth trading to different traders, FP Markets supports popular platforms like MetaTrader 4 and 5 as well as IRESS and WebTrader. A dedicated mobile app will also offer Android and iOS users easy access to mobile trading platforms, enabling seamless trading on the go.

    Tight spreads are also among the features that attract numerous traders to FP Markets, with pleased reviewers on Trustpilot giving the brand an average score of 4.8 out of 5. The average leverage ratio that FP Markets members can enjoy can reach up to 30:1 on certain products, including popular currency pairs. To ensure the safety of traders, the broker abides by the rules and guidelines imposed by major regulators in jurisdictions like Australia (License No. 286354) and Cyprus (License No. 371/18).

    Key Pros

    • Offers plenty of educational trading tools
    • Broker with competitive spreads
    • Allows easy trading on the go
    • Regulated by reputable authorities
    • Offers a decent number of currency pairs

    Key Cons

    • Supported trading platforms are a tad outdated
    • Could expand selection of products
    • No negative balance and investor protection for clients under ASIC
  4. TRADE NOW71% of retail investor accounts lose money
    easyMarkets Broker Details
    RegulatorsCySEC (license no. 079/07), ASIC (license no. 246566), FSA (license no. SD056), and FSC (license no. SIBA/L/20/1135).
    Min Deposit$100
    Trading PlatformseasyMarkets, MetaTrader 4, MetaTrader 5, TradingView
    Trustpilot Rating4.5 out of 1618 reviews
    Number of Forex Pairs to Trade60+
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 0.7
    USDJPY: 1.0
    EURGBP: 1.0
    GBPUSD: 0.9
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer
    Withdrawal MethodsVisa, Mastercard, JCB, Amex, Skrill, Neteller, Fasapay, Sofort, iDEAL, Web Money, BPay, Bank Transfer

    Starting in 2001, nowadays, easyMarkets is one of the top brokers that cater to the preferences of a wide range of traders, with several licenses authorizing the brand to operate in multiple markets. To ensure traders’ safety, the broker is regulated by authorities like CySEC (license no. 079/07), ASIC (license no. 246566), FSA (license no. SD056), and FSC (license no. SIBA/L/20/1135).

    Being among the pioneers in online trading, easyMarkets was the first one to introduce advanced tools like dealCancellation, Freeze Rate, and Inside Viewer. As for the platforms available to members of the broker, first, we would like to highlight the easyMarkets platform, which boasts a simple design and a selection of advanced trading tools that will appeal to experienced traders. Meanwhile, there is also the alternative to use platforms like MetaTrader 4 and 5 as well as TradingView. Mobile trading is also very accessible thanks to the dedicated easyMarkets app available to both Android and iOS users.

    Competitive spreads and low fees are also among the features that make easyMarkets a preferable destination for a large number of traders. The company enjoys an average score of 4.6 out of 5 on Truspilot’s review platform, further cementing the broker’s reputation. Going live requires a minimum deposit of only $100, with the broker supporting a wide selection of deposit methods.

    Key Pros

    • Offers tight spreads and low fees
    • Supports trading of over 60 currency pairs
    • Regulated by several reputable authorities
    • Supports a wide range of payment methods
    • Offers a proprietary platform

    Key Cons

    • Number of supported products is somewhat limited
    • Does not offer copy trading platform
    • Traders from certain countries may have access to fewer payment methods
  5. TRADE NOW75.5% of retail investor accounts lose money
    Pepperstone Broker Details
    RegulatorsUK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA
    Min Deposit$0
    Trading PlatformsTradingView, MT5, MT4, cTrader
    Trustpilot Rating4.5 out of 2398 reviews
    Number of Forex Pairs to Trade90+
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 1.0
    USDJPY: 1.0
    EURGBP: 1.2
    GBPUSD: 1.0
    Forex Commission per Lot per Trade$3.50 on FX CFDs traded via Razor accounts
    Deposit MethodsVisa, Mastercard, PayPal, Bank Transfer
    Withdrawal MethodsVisa, Mastercard, PayPal, Bank Transfer

    Pepperstone was launched in 2010 by a group of seasoned traders but has greatly expanded its global presence since then, currently reaching over 400,000 traders worldwide. The company enjoys an immaculate reputation and operates with licenses from several top-tier regulators, including the FCA, ASIC, and CySEC. Pepperstone also ranks among the world’s largest brokerages, boasting an average daily trading volume of $12.6 billion.

    Customers of the award-winning company can trade with more than 1,200 financial instruments, ranging from stocks, indices, and ETFs to commodities and currency pairs. FX traders, in particular, can go long or short on over 90 major, minor, and exotic currency pairs. Spreads are highly competitive at Pepperstone, starting at zero pips for majors like EUR/USD traded via Raw accounts. MT4, MT5, TradingView, and cTrader all pose as viable platform options for Pepperstone customers. All these factors combined have earned Pepperstone an above-average rating of 4.5 stars at Trustpilot.

    Key Pros

    • Winner of multiple industry awards
    • Commission-free FX trades via standard accounts
    • Over 1,200 instruments across all major asset classes
    • Competitive spreads on FX trades via Razor accounts
    • Seamless withdrawals within 1 to 3 workdays

    Key Cons

    • A somewhat limited range of deposit and withdrawal options
    • High swap rates on overnight positions
  6. TRADE NOW70% of retail investor accounts lose money
    Tickmill Broker Details
    RegulatorsCySEC (No. 278/15), FCA (733772), CONSOB (No.4310), BaFin (No.146511), ACPR (No.75473), CNVM (No.4082), FSA Seychelles (SD 008), FSCA (FSP 49464)
    Min Deposit$100
    Trading PlatformsMT4, MT5, WebTrader, ZuluTrade
    Trustpilot Rating3.4 out of 525 reviews
    Number of Forex Pairs to Trade62
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 0.1
    USDJPY: 0.1
    EURGBP: 0.4
    GBPUSD: 0.3
    Forex Commission per Lot per Trade$3 per lot
    Deposit MethodsBank Transfer, Skrill, Mastercard, Visa, PayPal, Przelewy24, Neteller, Trustly
    Withdrawal MethodsMastercard, Visa, Skrill, Neteller, Przelewy24, PayPal, Bank Transfer

    ickmill is a multi-licensed broker with over 780,000 registered customers worldwide. It provides low-cost trading with over 180 financial instruments, including currency pairs, equity indices, commodities, cryptocurrencies, bonds, and stocks. Raw spreads start at zero pips for FX majors, with nominal commissions on Raw accounts. It is also worth mentioning that Tickmill is one of the few online brokers to issue no requotes. It receives heaps of praise for delivering some of the fastest execution times in the industry, filling client orders within 0.20 seconds on average.

    The brokerage supports trading via the robust MT4 and MT5 platforms, with customers facing a choice from their downloadable and web-based versions. Clients interested in dipping their toes in copy trading can conveniently connect their Tickmill accounts to the ZuluTrade platform. Tickmill keeps client funds in segregated accounts and maintains insurance against insolvency with Lloyds Bank despite boasting sufficient liquidity to weather hard times. On the downside, bank-transfer deposits incur additional fees when below the $5,000 threshold.

    Key Pros

    • Offers swap-free accounts for Islamic customers
    • No commissions on FX trades via Classic accounts
    • Global presence in over 180 countries
    • FX spreads from zero pips on Raw accounts
    • Swift order execution with no requotes

    Key Cons

    • Could use more base account currencies
    • Bank-transfer deposits below $5,000 incur extra fees
  7. TRADE NOW77.7% of retail investor accounts lose money
    Forex.com Broker Details
    RegulatorsASIC, MAS, FCA, CIRO, JFSA, CFTC , MiFID, CySEC
    Min Deposit$100
    Trading PlatformsMetaTrader 4, MetaTrader 5, TradingView, WebTrader
    Trustpilot Rating4.7 out of 1288 reviews
    Number of Forex Pairs to Trade80+
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 1
    USDJPY: 1.2
    EURGBP: 1.3
    GBPUSD: 1.3
    Forex Commission per Lot per Trade$0
    Deposit MethodsVisa, Mastercard, Skrill, Neteller, Bank Transfer
    Withdrawal MethodsVisa, Mastercard, Skrill, Neteller, Bank Transfer

    Launched in 2001, Forex.com has been offering innovative trading solutions for over two decades. Traders will have the chance to trade more than 80 currency pairs or choose from numerous shares and commodities trading options. Advanced trading tools are definitely among the strengths of the broker, offering multiple platforms and even AI tools that allow easier analysis.

    Whether you trade on your desktop device or wish to trade on the go, Forex.com offers a wide selection of platforms that enable smooth trading experiences on any type of device. MetaTrader 4 and 5, Web Trader, and the Forex.com mobile app will offer you access to a number of instruments that can make trading more intuitive and easy. Members of Forex.com can also use the TradingView platform, allowing them to handle their trades using a handful of exclusive trading tools.

    Among the numerous reasons why many traders have decided to trust Forex.com, tight spreads are definitely a key factor. Execution speed is also one of the broker’s strongest suits, with about 99.79% of trades executed in under one second and an average execution speed for Forex trades of 0.03 seconds. While trading with Forex.com, you can be sure that your funds are always protected via industry-standard security tools, with the broker following guidelines imposed by major regulators. StoneX, which is Forex.com’s parent company, is regulated by ASIC, MAS, FCA, CIRO, JFSA, CFTC, CySEC, and MiFID in the EU market.

    Key Pros

    • Supports a great selection of trading platforms
    • Enables easy mobile trading
    • Offers over 80 currency pairs
    • Provides a vast variety of products
    • Forex spreads can be very competitive

    Key Cons

    • Navigating platforms can be difficult for beginners
    • Instruments on MT4 platforms are significantly fewer than other platforms
    • Charges monthly fee after 12 months of inactivity
  8. BlackBull Markets Broker Details
    RegulatorsSFSA (No. SD045), FMA (No. FSP403326)
    Min Deposit$0
    Trading PlatformsMT4, MT5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade
    Trustpilot Rating3.6 out of 34 reviews
    Number of Forex Pairs to Trade70+
    LeverageForex & Metals: 500:1
    Index CFDs: 500:1
    Cryptocurrencies: 500:1
    SpreadEURUSD: 0.1
    USDJPY: 0.2
    EURGBP: 0.7
    GBPUSD: 0.4
    Forex Commission per Lot per Trade$3 per lot
    Deposit MethodsVisa, Mastercard, Neteller, Airtm, Skrill, Bank Transfer, HexoPay, American Express, POLi, Payment Asia, Help2Pay, FXPay, Fasapay, China Union Pay, Boleto, AstroPay, Beeteller, Bitcoin, Ethereum, Tether, Ripple, Litecoin, Bitcoin Cash, Chainlink, USD Coin, Stellar
    Withdrawal MethodsVisa, Mastercard, Bank Transfer, Airtm, Skrill, Neteller, American Express, POLi, HexoPay, Payment Asia, Help2Pay, FXPay, China Union Pay, Boleto, Fasapay, Beeteller, AstroPay, Bitcoin, Litecoin, Bitcoin Cash, Tether, Ripple, Stellar, Chainlink, Ethereum, USD Coin

    Founded in 2014, BlackBull Markets takes the lead when it comes to tradable asset diversity, providing a choice from a whopping 26,000 financial instruments. The broker caters to forex traders with over 70 major, minor, and exotic currency pairs tradable via three types of ECN accounts (Standard, Prime, and Institutional). Commodities, shares, indices, and futures can also be traded at BlackBull Markets.

    The Seychelles-licensed broker offers relatively reasonable trading conditions, although the exact trading costs largely depend on what type of live account you open. Customers looking to trade commission-free can do so via ECN Standard accounts, where spreads generally start from 0.8 pips and there are no minimum deposit requirements. ECN Prime and ECN Institutional accounts are suitable for seasoned and high-volume traders. Both account types incur above-average commissions per lot.

    Customers with live accounts can top up their balance with cards, digital wallets, online banking gateways, bank transfers, and cryptocurrencies. While deposits come at no extra cost, the New Zealand-based broker charges a $5 processing fee on all withdrawals, regardless of the payment method used.

    Key Pros

    • Uses proprietary copy-trading platform
    • Swap-free trading via ECN Standard and Prime accounts
    • Multi-platform support
    • Provides a 24/7 customer support service
    • Great Education Hub for traders looking to hone their skills

    Key Cons

    • High commissions per lot on Prime and Institutional accounts
    • Charges a $5 fee on withdrawals
  9. TRADE NOW64% of retail investors lose money
    Spreadex Broker Details
    RegulatorsFCA (No. 190941)
    Min Deposit$0
    Trading PlatformsTradingView, proprietary software
    Trustpilot Rating4.4 out of 93 reviews
    Number of Forex Pairs to Trade60+
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 0.6
    USDJPY: 9
    EURGBP: 0.9
    GBPUSD: 0.8
    Forex Commission per Lot per Trade$0
    Deposit MethodsMastercard, Visa, Maestro, Direct Debit, Check, Bank Transfer
    Withdrawal MethodsVisa, Maestro, Mastercard, Bank Transfer, Check

    Spreadex is a UK-regulated firm that provides financial spread betting and leveraged trading through contracts for difference. The company carries the stamp of approval of the Financial Conduct Authority (FCA) and has over 25 years of industry experience. Over 60,000 customers worldwide choose Spreadex for its competitive pricing, advantageous trading conditions, and diverse product range comprising more than 10,000 financial instruments.

    Clients can trade over 60 currency pairs with tight spreads averaging 0.6 pips on majors like the EUR/USD. Beyond Forex, Spreadex has decent enough coverage of the equity index, commodity, and stock markets. Options, bonds, interest rates, and exchange-traded funds are also available for trading at favorable conditions.

    Traders at Spreadex can stay ahead of the curve with weekly technical analysis, trading updates, and an economic diary, all available under the News & Analysis tab. Connecting your Spreadex account to TradingView is an option, although the broker’s proprietary software also ensures a seamless trading experience and fast order execution. Spreadex does not support MT4 and MT5 at the moment but has earned an above-average Trustpilot score of 4.5 stars despite this shortcoming.

    Key Pros

    • Provides access to over 10,000 tradable symbols
    • Well-designed and intuitive mobile trading app
    • Offers spread betting on FX pairs
    • Commission-free FX trading with tight spreads
    • Seamless registration process

    Key Cons

    • No support for MetaTrader 4 or 5
    • Licensed by a single financial regulator (FCA)
    • Deposits under $/£50 may incur additional charges
  10. TRADE NOW75% of retail investor accounts lose money
    Capital.com Broker Details
    RegulatorsAustralian Securities & Investment Commission (ASIC) (License # 513393), CyprusSecurities and Exchange Commission (CySEC) (License# 319/17), Financial Conduct Authority (FCA) (License # 793714),The Financial Services Authority of Seychelles (FSA), The Securities Commission of The Bahamas (SCB)
    Min Deposit$20
    Trading PlatformsMetaTrader 4, TradingView
    Trustpilot Rating4.2 out of 10490 reviews
    Number of Forex Pairs to Trade125+
    LeverageForex & Metals: 30:1
    Index CFDs: 20:1
    Cryptocurrencies: 2:1
    SpreadEURUSD: 0.6
    USDJPY: 10
    EURGBP: 2
    GBPUSD: 1.3
    Forex Commission per Lot per Trade$0
    Deposit MethodsBank transfers, VISA, MasterCard, Maestro, Apple Pay, PayPal, Neteller, Skrill, Sofort, Przelewy, TrueLayer, iDEAL, Trustly, SPEI
    Withdrawal MethodsBank transfers, bank cards, Apple Pay, PayPal, Neteller, Skrill, Sofort, Trustly

    Capital.com is a broker that has been providing its services since 2016. It has licenses from several Tier-1 regulators, including the ASIC, CySEC, and FCA, ensuring a secure trading environment. More than 580K registered traders enjoy an excellent user experience, from hassle-free account opening to streamlined trading.

    Capital.com offers market-leading spreads on more than 125 currency pairs. The brand’s product offering goes far beyond forex trading, with 3,000 indices, commodities, shares, major cryptocurrencies, and altcoins tradable both on desktop and mobile.

    The minimum deposit requirements at Capital.com start from $20, with diverse payment methods, including bank transfers, bank cards, and various e-wallet brands. Withdrawals do not entail processing fees and demo accounts are available to practice in a simulated trading environment with virtual funds. The brand is praised for its rich assortment of educational materials, the latest market news, and advanced analytical tools.

    Key Pros

    • Trusted by 580K+ traders across the globe
    • Trading guides for beginner, intermediate, and advanced traders
    • Mobile apps for Android and iOS devices
    • Low FX fees built into the spread
    • Negative balance protection

    Key Cons

    • There is an inactivity fee after 1 year
    • No two-step login
    • No price alerts on the web platform

Is Forex Trading Legal in Kuwait?

Trading forex and other securities is legal and regulated under the provisions of Law No. 7 of 2010. The legislation stipulates that securities brokers, market makers, and investment advisors must gain authorization from Kuwait’s Capital Markets Authority (CMA) to operate legally in the country. Brokers interested in serving the local market must cover specific requirements as per Article 66 to obtain licenses from the CMA.

Licensed entities must maintain sufficient operating capital and segregate the funds and assets of their clients to prevent mismanagement. They must be transparent about the financial risks involved in securities trading and actively work to ensure the best results for their clients. Licensees must charge reasonable commissions and are prohibited from offering excessive discounts and similar marketing incentives to Kuwaiti customers.

Brokers seeking CMA authorization must also set up offices in the country to receive licenses. Approved candidates must regularly submit financial reports to the regulator. Kuwait is a predominantly Muslim country, so it makes sense that locally regulated brokers must operate in accordance with the Islamic Shariah law, a set of religious principles prohibiting earning or paying interest. This results in restrictions on investing in specific asset classes and more limited options for Kuwaiti traders doing business with CMA-approved brokers.

Forex Trading Regulators in Kuwait

The country has two primary financial regulators, starting with the Central Bank of Kuwait (CBK). Established in 1968, the CBK oversees the operations of all conventional and Sharia-compliant banks, electronic services providers, and credit, and investment companies based in the country. The stock exchange market and Boursa Kuwait also fall under the regulatory scope of this entity.

The CBK is the sole entity responsible for the issuing of the local currency, the Kuwaiti dinar (KWD). The regulatory body actively works to maintain the stability of the dinar and ensure it is freely convertible to foreign currencies. It develops and proposes monetary policies to the local government to promote economic growth and social welfare. Last but not least, the CBK provides residents of the country with a robust system for initiating complaints and legal proceedings against locally regulated banks, investment and exchange companies.

Kuwait’s Capital Markets Authority (CMA) commenced operations in early 2010 after the approval of Law No. 7 the same year. The CMA oversees all participants in the local securities market, observing for their efficient, transparent, and ethical operations. It monitors trading in derivatives issued in the country and ensures local brokerages comply with the law. The CMA is additionally tasked with improving consumer protection and raising public awareness of the risks involved in securities trading.

The regulatory body publishes regular circulars warning residents to exercise due caution when trading with unlicensed brokerages. The regulator maintains a database of companies and individuals prohibited from offering securities trading on Kuwaiti soil. Entities featured on the list have suffered disciplinary action for non-compliance in the form of license revocation, cancelation, or delisting.

How to Identify Forex Brokers Authorized in Kuwait

Choosing a locally approved broker overseen by the CMA is the best course of action for Kuwaitis looking to trade forex currency pairs. The capital markets watchdog has published an up-to-date list of all companies licensed in the country, allowing residents to conveniently check the regulatory status of the firms they are interested in.

Many Kuwaitis prefer to trade forex with international companies regulated in offshore jurisdictions since the number of locally registered brokers is quite limited at the moment. Residents who opt for this alternative have no reasons for concern as long as they confirm their chosen brokers are properly regulated by the respective financial watchdogs of the jurisdictions they originate from. Kuwaitis should always go for forex brokers with proven track records of compliance and no penalties for regulatory violations.

Security at Forex Brokers in Kuwait

The best brokers catering to Kuwaiti traders conform to strict regulatory rules of conduct, ensuring fair trading conditions and high levels of consumer protection for all customers from the Arab country. Such companies typically act in the best interests of their customers and offer the most competitive price quotes as they have access to deep liquidity pools. Kuwaiti clients will benefit from customer support and trading platforms in their local Arabic language, which improves communication and makes for a more comfortable trading experience.

Regulated brokers ensure bank-level security by safeguarding their clients’ transactions and sensitive information with sophisticated encryptions and the latest security protocols. They are transparent about the regulatory bodies overseeing their operations and always publish their license numbers in their website footers for traders to verify the licensing status.

Reliable broking firms welcoming Kuwaiti traders comply with strict fund segregation rules. They separate client assets and deposits from company funds, storing them in designated accounts at accredited financial institutions. Mandated by the CMA and other strict financial watchdogs, this practice prevents brokers from mismanaging client funds and using them for operating expenses. It guarantees the prompt return of customers’ money if a broker is forced into liquidation.

While there are no clear-cut CFD regulations in Kuwait, trusted offshore brokers normally provide extensive information about the financial risks resulting from investing in such complex instruments. Kuwaiti retail traders must pass tests at CFD brokers to confirm they are proficient enough in dealing with high-risk derivatives.

Each new retail client from Kuwait must also submit documentation to verify their identity, residency, and source of funds. Many Kuwait-friendly brokers require new traders to submit selfies, along with photos of their identity documents. This is a standard procedure at all regulated brokers aiming to curb terrorism financing, money laundering, and identity theft, among other illegal practices.

Negative Balance Protection at Kuwaiti Forex Brokers

The CMA warns on its official website that its regulatory powers extend only to derivative products issued and traded in the country. Kuwaitis intending to engage in margin trading with leverage must ascertain their chosen offshore brokers offer negative balance protection. This safeguard is essential for all leverage users as it prevents them from sustaining losses exceeding their initial investments.

All brokers regulated by first-tier financial watchdogs offer this feature to guarantee the balance in retail accounts never goes negative. With this safety net in place, Kuwaiti CFD traders will never end up owing money to their brokers when trading conditions change abruptly for the worse or the currency markets gap. The mechanism normally goes hand in hand with margin closeouts whereby trusted brokers automatically close leveraged positions when their losses start mounting and customers lack sufficient balance to maintain them.

Taxes on Forex Trading Profits in Kuwait

The Kuwait government does not levy taxes on the personal income of permanent residents and expatriates. The country derives most of its revenue from petroleum and taxes on foreign corporations doing business on local soil. Such corporations are subject to a flat 15% corporate income tax. Companies with foreign ownership are also liable for paying 11.5% in social security contributions provided they employ qualifying permanent residents of the country.

These contributions are payable monthly and apply to eligible employee salaries, with a cap of 2,750 KWD. Corporate profits from selling assets and stocks are liable for a 15% capital gains tax. However, certain exemptions are made for earnings obtained from dealing in securities on Boursa Kuwait.

Leverage Caps at Kuwait Brokers

Kuwaiti forex traders commonly have access to leverage, which allows them to trade larger volumes with less capital. The local financial watchdog, the CMA, is yet to introduce specific restrictions on the maximum leverage available to retail traders in the country. Brokers regulated in offshore jurisdictions like Vanuatu and Belize cater to Kuwaiti customers with high leverage capped at 100:1, 500:1, or even 1000:1 for major currency pairs like EUR/USD. Kuwaiti clients can, thus, tap into the forex markets with small initial deposits and significantly increase their market exposure but such high leverage caps can be both a blessing and a curse.

High leverage has the potential to considerably boost your profits from successful trades but the same is also true for your losses. Kuwaiti traders should refrain from leveraging their positions at such unreasonably high rates, even more so if they lack proficiency in dealing with CFDs and other high-risk derivatives. If you still insist on taking your chances, you must ensure your broker offers negative balance protection to safeguard you from running into debt.

Islamic Forex Trading Accounts in Kuwait

Islam is the official religion in Kuwait, with over 99% of the local population professing it. Banks, brokerages, and other financial institutions operating in the country adhere to religious principles known as the Shariah laws. These are moral guidelines for all Muslim residents and prohibit them from trading with businesses that collect or pay interest. The prohibition extends only to citizens and expatriates practicing Islam. No restrictions on interest are in place for non-Muslim residents and foreigners.

Forex brokers doing business with Kuwaitis are Shariah-compliant, allowing them to trade forex via “Islamic” accounts where there are no swap fees on overnight positions. New traders usually have to verify their accounts and fund them to gain access to swap-free trading. The process involves supplying the broker with relevant documentation to confirm your religious status.

A broker requires several business days to evaluate the applications. It is worth mentioning customers with Islamic accounts have access to a more limited range of tradable forex pairs, as certain currencies are unavailable on Islamic accounts. Clients looking to trade such currencies can only do so if they forfeit their swap-free privileges.

Forex Trading Platforms in Kuwait

The top-rated Kuwait brokers highlighted in this article share one common trait – they all rely on state-of-the-art software to deliver a seamless and hopefully profitable forex trading experience to their customers. Some broking firms achieve this by developing proprietary software, while others run on well-known platforms designed by third-party companies.

Algorithmic trading is enjoying increasing popularity among Kuwaiti forex traders, especially those with more extensive experience. The good news is most brokers offer popular options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are ideal for algorithmic trading. Which one you choose depends on your experience, style, and the trading strategies you intend to implement. MT4 allows for easier coding and navigation, not to mention it is geared specifically toward the needs of forex traders.

MetaTrader 5 boasts a superior programming language and has more timeframes, technical indicators, and graphical objects. It comes with a great in-built economic calendar that will also appeal to traders relying on fundamental analysis. Both platforms have a multilingual interface and support Arabic as a language option. Kuwaiti traders can download and install them on their desktop computers or opt for the browser-based WebTrader versions.

Below you can find some useful references with links to organisations that monitor the forex market in Kuwait.

  1. Central Bank of Kuwait (CBK)
  2. Capital Markets Authority (CMA)
  3. Entities on this list have had their licenses revoked, canceled, or delisted for non-compliance.
  4. Updated list of licensed companies.