Sat, Oct 01, 2022

If you search about the best forex trading companies in Bangladesh, I suppose there are a lot of results. And several results can make you confused. In this article, I will tell you some of the best forex brokers in Bangladesh. Bangladesh is a rising country in terms of economy. They are the second best economic region in the South Asian area, after India. That’s the reason why forex trading has exploded in Bangladesh in the last few years.

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

 

Regulated BrokerRatingDemoLeverageBonusPlatformsRegulationMin DepositPayments
OctaFX9yes1:500up to 50%MetaTrader 4, Metatrader 5, cTraderFCA UK50Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay
LiteFinance 8yes1:50030% + 15%Metatrader 4, Metatrader 5, WebTerminalCySEC, Marshal Islands Business Corporation Act.10 Skrill, Webmoney, Bitcoin, Advcash, Credit Card
XM8yes1:888$30 no depositMetaTrader 4, Metatrader 5, XM WebtraderCySEC, ASIC Australia, IFSC Belize5Credit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer
AvaTrade 7yes1:400100% AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Island100Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney
InstaForex 7yes1:1,000$100 No Deposit BonusMetaTrader 4, Metatrader 5, WebtraderRAFMM1Some local Bank transfers, PayCo, AstroPay, Cryptocurrency
FxPro5yes1:500up to $1,000FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium FCA, CySEC100Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill
FXCM5yes1:200-Trading Station II, MetaTrader 4, Active Trader, Forex System Selector UK Financial Conduct Authority, AFSL 250Credit/Debit card, Online Check, Bank Wire, Paper Check
Plus5005yes1:20030%Plus500Israel Securities Authority500Skrill, Credit Cards, Wire Transfer
Dukascopy4yes1:500-DukascopyKPMG ARIF250Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts
Forex.com4yes1:200-ForexTrader platform (in-house), MetaTrader 4CFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)50wire transfer, Credit/Debit Card, Check
HYCM4yes1:40025% up to $5,000Metatrader 4FCA UK, CySEC, SFC100credit cards, wire transfer, Skrill, webmoney
IronFX4yes1:50040%Metatrader 4ASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFIN100credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer
CMTrading4yes1:40015% matchMetaTrader 4, SirixFinancial Services Board (FSB) South Africa200credit/debit cards, Wire transfer, CashU ,Skrill
Blueberry Markets4yes1:500MetaTrader 4ASIC100credit cards, wire transfer, POLi, Skrill
Trade Nation4yes1:30; 1:200in-house web-based platform, Metatrader 4 MT4FCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamas1Credit Card, Srill
FXDD3yes1:200-MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremeMalta Financial Services Authority (MFSA)100Wire, PayPal, Check, BPS
Oanda3yes1:50Metatrader 4, FXtradeNFA1check, Credit cards, PayPal, Wire transfer
iFOREX3yes1:400-FXnet TraderHFSA in Hungary, CySEC100credit cards, wire transfer
AdvancedMarkets3yes1:50-Advanced Trader/Pro/Prime, Fortex FX Australian AFSL, ASIC500Wire, Check
FP Markets3yes1:50010% credit bonusMetaTrader 4 (MT4), IRESS, Mobile tradingASIC200credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer
DFMarkets3yes1:20010% Trading Credit Promotion up to $1,000DFTrader, DF WebTrader, DF MobileFCA100Bank wire, Credit/Debit cards
Tickmill3yes1:500-MetaTrader 4, WebtraderFCA UK, FSA Seychelles100wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney
TenkoFX3yes1:500MetaTrader 4, WebtraderInternational Financial Services Commission of Belize10Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi
Z.com Trade3yes1:200 Z.com trader web, Z.com trader pro (demo account only)FCA UK1credit cards, wire transfer, china unionpay, skrill
Freshforex3yes1:1000+5% to each cryptocurrency deposit; get 300% for each depositMetatrader 4KROUFR1WebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking
Pepperstone3yes1:500100% Match BonusMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirrorASIC, FCA UK200bPay, credit cards, Paypal
TradeFW3yes1:30https://www.forexexplore.com/forex-brokers/tradefw-reviewCysec0Bank wire, Credit/Debit Card.
CMCMarkets2yes500:1-Next Generation web-basedFCA1Credit cards, Wire Transfer
ActivTrades2yes1:400Metatrader 4, ActivtraderFCA100Credit Card, Wire transfer, neteller, skrill, sofort
Saxo Bank2yes1:100n/aSaxoTraderDanish Financial Services Authority and operates in the UAE5000Wire
Blackwell Global2yes1:200-MetaTrader 4, Blackwell Pro, MobileFinancial Conduct Authority2000redit/debit cards, Neteller, Skrill, Wire transfer
AAAfx2yes1:200up to 30%ZTP, MetaTrader 4, Binary options webtrader, ZulutradeHCMC (Greece)300Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin
XTB2yes1:200Metatrader 4, xStation, xMobileCNMV (Spain), FCA (UK), FSA (Poland)250Credit cards, Neteller, Paypal, Skrill, Wire transfer
Anzo Capital2yes1:1000MetaTrader 4yes100Webmoney, Skrill, Neteller, Credit Cards
EasyMarkets2yes1:100Metatrader 4, EasyMarkets web-based platformASIC (Australia), CySEC (Cyprus)100credit cards, neteller, Skrill, Webmney, wire transfer
CityIndex2yes1:400-MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppTrademark of GAIN Capital UK Ltd - Regulated by FCA100Credit/Debit Cards
Markets.com2yes1:200up to $2,000Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderCySEC, FSCA South Africa 100Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments
eToro 1yes1:30; 1:1 for Crypto Currencies-eToro PlatformCySec, NFA200Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer
Tifia1yes1:1,000Metatrader 4, webtraderVanuatu Financial Services Commission VFSC10wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay
FXOpen1yes1:500$100MetaTrader 4ASIC, FCA UK, Financial Dispute Resolution Scheme1Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney
House of Borse1yes1:100MetaTrader 4FCA UK50000credit cards, wire transfer
Fort Financial Services1yes1:1,000MetaTrader 4, CQG, Ninja trader, binary optionsIFSC5Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer
TraderTrust1yes1:200100% upto $5,000SmartForexCySec, VFCS100Skrill, Credit Cards
MEX Exchange1yes1:500Metatrader 4ASIC25Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer
FBS1yesup to 1:3,000$123 Welcome BonusMetaTrader 4, Metatrader 5, WebtradingIFSC; Cysec1credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill
Synergy FX1yes1:500MetaTrader 4ASIC, AFSL500credit cards, skrill, wire transfer
FCI Markets1yes1:100Currenex, FCI NetStation, MetaTrader 4FCA250credit cards, neteller, skrill, wire transfer
Fortrade1yes1:200FortraderFCA500wire transfer, credit cards, skrill, neteller
FXGiants1yes1:500MetaTrader 4FCA500credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer
FXGlobe1yes1:500MetaTrader 4CySEC250Credit cards, Neteller, Skrill, Wire transfer
FXoro1yes1:400Metatrader 4CySEC200credit cards, wire transfer, skrill, neteller, ecoPayz, CashU
FXprimus1yes1:500Metatrader 4Cysec100Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer
Infinox1yes1:300Metatrader 4FCA UK100credit cards, wire transfer, skrill, neteller, china unionpay
JCMFX1yes1:1,000MetaTrader 4FSA10credit cards, FasaPay, Wire Transfer, Neteller, Skrill
Larson&Holz1yes1:500Metatrader 4, Web TraderFMRRC, NAFD100credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money
LCG1yes1:500MetaTrader 4, LCG Trader (web-based, ECN accounts only)FCA UK1wire transfer, debit/credit cards, Skrill
Mahi FX1yes1:100Metatrader 4, MahiFXFCA UK, ASIC, FMA1wire transfer, credit cards
Pricemarkets1yes1:400MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXFCA UK500wire transfer, credit cards
Rallytade1yes1;1,000Metatrader 4, xStation (web-based), xSocial, xOptionsFinaCOM100credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay
Range Markets 1yes1:500Metatrader 4FSA of St. Vincent and the Grenadines100Neteller, Credit Cards, wire transfer
Rekuten Securities1yes1:50MarketSpeed FX, Trading Station (inherited from FXCM)SFC1wire transfer, checks, ATM (only for local residents)
Roboforex1yes1:500MetaTrader 4, cTraderCysec, IFSC, FSP, FSCL1credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money
Trading2121yes1:200Trading212FCA UK100wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay
AGEA0yes1:500$5 no-deposit bonusStreamster, MetaTrader 4no1Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money
Oinvest0yes1:200Samsung Galaxy, iPhoneMetatrader 4yes200Skrill, Neteller, Credit Cards
TrioMarkets0yes1:300-MetaTrader 4, Sirix WebtraderCySEC100Credit Card, Wire, Skrill, Neteller, Paypal and CashU
Orbex0yes1:500MetaTrader 4CySEC500Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney
GrandCapital0yes500:1$500 no depositMetaTrader 4, WebTraderFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organization10Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney
Alvexo0yes400:1-MetaTrader 4, WebTrader, MobileCySEC5000Cash-U, Credit Card, Webmoney, Wire Transfer
NSFX0yes200:1Metatrader 4, Webtrader, NSFX Jforex platformMFSA300credit cards, Skrill, CashU and wire transfer
Juno Markets0yes1:400-MetaTrader 4FinaCom500neteller, skrill, credit cards, wire transfer
KGIeworld0yes1:50-MetaTrader 4MAS1000Wire Transfer, Check
Abshire-Smith0yes1:200Vertex fx, Metatrader 4, straticatorFCA500CashU, Neteller, Skrill, Wire Transfer
Alfa Financial0yes1:100MetaTrader 4, AX1TraderCentral Bank UAE10000yes
Darwinex0yes1:200MetaTrader 4, cTraderFCA500Bank Wire, Credit Cards, UnionPay
Eightcup0yes1:500Metatrader 4ASIC100
ETX Capital0yes1:200 ETX Trader Pro, Metatrader 4, ETX binaryFCA100credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay
Swissmarkets0yes1:500Metatrader 4, WebtraderCySEC, MiFID200credit cards, wire transfer, neteller, skrill, iDEAL, giropay
Trade3600yes1:1,00035%, $60 no deposit for real accountTrade360CySEC100credit cards, skrill, neteller, wire transfer
ForexMart0yes1:1,000$150 no deposit neededMetatrader 4CySEC1credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin
AETOS0yes1:200MetaTrader 4FCA UK250Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY
LH-Crypto0yes1:500Metatrader 4, Metatrader 5yes10Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer
1Market0yes1:400Webtrader, Metatrader 5Cysec250credit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt
PlusMarkets0yes1:30Metatrader 4, PlusMarkets TraderCySec0cards, wire transfers, and some alternative payment methods, which aren’t specified
HonorFX0yes1:500Metatrader 5FSA100Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money
Tiger Brokers0Up to 4x (day trade), Up to 2x (next day)Tiger TradeUS Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) 0Bank Wire Transfer, FAST, DDA, PayNow
MarketBull0yes10001:1000100% match the depositMetatrader 4jurisdiction of the UK1000Credit Cards, Neteller, Skrill, Bank Wire Transfer
CedarFX0yes1:500MetaTrader 4 50Credit Card, Bank Wire, Bitcoin
GCI Trading0yes1:40050% on depositMetaTrader 4, ActTraderIFSC500Bank Wire Transfer, Credit Card, Neteller, Skrill
Axi0yes1:400Metatrader 4ASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadines200Debit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer

Regulation of Bangladesh Forex 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.

Major regulators in the industry include DFSASCBCySECFCAFSBMiFIDASICIFSCBaFin, and many others. Before creating our list of the best brokers for Bangladeshis, we had to make sure they were all regulated and trusted brokers.

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.

How Can I Open a Trading Account in Bangladesh?

Most Forex traders resident in Bangladesh can open an account with a domestic Forex broker by providing the following:

  • Two passport-sized photos
  • A photocopy of a government-issued ID (for example, a passport, a social security card, or a resident card)
  • A local foreign currency bank account statement from a Bangladeshi bank (from where Forex traders deposit funds into their Forex trading account)
  • A proof of earnings document (for example, an employment certificate, a work permit, or a tax return)

Noteworthy:

  • Traders who will designate a nominee must submit one passport size photo of the nominee
  • A Power of Attorney for the nominee
  • International Forex brokers may only require a photocopy of the ID and one proof of residency document.

How to Learn Forex Trading in Bangladesh?

Forex trading is not as difficult as it seems to be. Newbies who want to learn Forex can easily learn for free online. If you want to be a good forex trader, you must study, know all kinds of analysis, computers, current news, etc.

You just need to have some basic understanding of the forex market and how it works. In Bangladesh, there are a few ways you can learn forex trading.

  • You can attend a forex trading course offered by brokers or international registered financial institutions. These courses usually last for a few weeks, and you will learn about the basics of forex trading, including how to read charts and identify trends. You can do those for free.
  • You can also find online courses that are offered by various online learning platforms such as Udemy, Skillshare, etc. These sites usually offer paid courses, but they offer a lot more flexibility because you can learn at your own pace.
  • You can also learn forex by opening a demo account with any forex broker. It will help you to learn like the real forex world.
  • Finally, you can also find free resources online that can help you learn about forex trading. This is probably one of the best options for beginners because it allows you to learn at your own pace, and it’s free! Whichever way you decide to take, make sure you do your research first and find a course that suits your needs.

If you are looking for an easy way to earn some extra cash on the side, forex trading is one of the best options out there. Forex currency trading or currency speculation is a way to earn money by dealing in currency markets. Anyone with internet access and a small amount of cash can start trading currencies by opening an account with any number of different forex brokers who provide this service.

Many Bangladesh residents are not familiar with the Forex market. They do not understand how it works or how to trade currencies. This makes it difficult for them to invest in Forex. Despite these obstacles, there are a few Bangladeshi traders who are successful in forex trading in Bangladesh. These traders have learned about forex by themselves with proper dedication. So, if you want to start forex trading in Bangladesh, make sure you learn first, and after that, pick the best forex broker in Bangladesh from the list we have given in this article.

Limitations and Comparison to Other Countries

Unlike in other countries, Bangladeshi citizens are not authorized to perform Forex transactions directly, rather only through brokerage companies.

The biggest local exchange is the Dhaka Stock Exchange (DSE). It was founded in 1986 and has reached more than $42 billion of capitalization. The second biggest exchange is the Chittagong Stock Exchange (CSE).

You will not find major brokers locally. So to trade online, it is necessary to find an international broker authorized to carry out Forex trading in Bangladesh.

Currently, the Bangladeshi government is working on the possibility to attract more FDI (foreign direct investments). They are working on a new draft of a 70-old Forex regulation to simplify opening a foreign currency account for end-users. Hopes are high that very soon the country will adopt an amended law on Forex currency and exchange management.

Forex broker fees

Forex brokers can charge commissionsspreads and financing fees.

When it comes to commissions, there are two different fee structures forex brokers normally use:

  1. All trading fees are included in the spread except the financing rate. Basically, think of it as the broker giving you a wider spread than it gets from the market.
  2. You get the market spread, but you pay a commission based on the traded amount. This model is usually used by ECN brokers.

The second version is more transparent, but this doesn't always mean it's more expensive.

When you trade forex on leverage and hold your position overnight, a fee will be charged. This is called financing cost. Financing costs change daily, and can add up if you hold your positions for a longer period.

Becoming a Forex Trader In Bangladesh

Forex is a global market for currency trading. Its daily turnover is estimated at trillions of US dollars (it reaches $5-7 trillion depending on the circumstances). Today, experts predict it will reach the $10 trillion mark within a couple of years. The most popular currency is the USD, as it participates in more than 85% of all global currency exchange transactions.

Online trading allows you to use almost all Forex trading tools. You can select any financial assets, analyze the market situation based on historical and current quotes, use margin trading, replenish a deposit and withdraw profits, apply different trading strategies and follow advice from professional traders.

FAQs

Is Forex legal in Bangladesh?

Forex trading is legal in Bangladesh but there are some restrictions. Ordinary users cannot open a foreign currency account directly. They can trade only via brokers that have been officially approved by the Bangladesh Bank.

Which Forex broker has the best spreads in Bangladesh?

Many brokers offer excellent floating spreads to attract more traders to their platforms. It is important for a beginner to start with the brokers that offer the lowest spreads for the trades. If you are going to participate in Forex Bangla trading, pay attention to Pepperstone and Eightcap where the spreads start from 0.0 pips.

Which is the best Forex broker for beginners in Bangladesh?

Every beginner should select a broker that has the following features: a demo account, free training, and the lowest deposits and spreads. It is difficult to say which broker is the best. But if the company is ready to give you a chance to test its platform for free, it is definitely worth attention.

Is eToro available in Bangladesh?

eToro accepts traders from Bangladesh.

How can I do Forex in Bangladesh?

The most convenient and effective method is an international Forex broker offering a competitive core trading environment, including low trading costs.

Is Bitcoin available in Bangladesh?

Bitcoin is available in Bangladesh, which has an extensive peer-to-peer network. The popularity of cryptocurrencies has started to attract international cryptocurrency exchanges to Bangladesh. Traders can also take advantage of cryptocurrency CFDs provided by their Forex brokers.

Is trading available in Bangladesh?

Trading is available and legal in Bangladesh via domestic and international brokers.

How many stock exchanges are there in Bangladesh?

Bangladesh has two BSEC-regulated stock exchanges, the Dhaka Stock Exchange (DSE), founded in 1954, and the Chittagong Stock Exchange (CSE), founded in 1995. Both have a computerized automated trading system

Can I buy foreign stocks in Bangladesh?

The Dhaka Stock Exchange lists several foreign stocks, allowing traders exposure to foreign equities denominated in local currency.

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