| Updated: December 2, 2024Looking for the best Qatari forex broker? We have a whole list of the most prominent names in this sector, offering the best trading experience for traders based in Qatar. You can fully trust our fine selection as our trading experts have carefully tested every feature of the brands below, with safety, payments, and trading options being some of the elements that have been thoroughly reviewed by our team.
Fusion Markets74-89% of retail CFD accounts lose money
Pepperstone75.5% of retail investor accounts lose money
Global Prime74-89% of retail CFD accounts lose money
BlackBull Markets
Spreadex64% of retail investors lose money
Forex.com77.7% of retail investor accounts lose money
eToro51% of retail investor accounts lose money
Libertex74.91% of retail investor accounts lose money
Admirals73% of retail investor accounts lose money
IG70% of retail client accounts lose moneyQatari Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,862 | 4.9 ⭐ |
| 2. Pepperstone | 2,789 | 4.6 ⭐ |
| 3. Forex.com | 1,668 | 4.5 ⭐ |
| 4. Spreadex | 113 | 4.5 ⭐ |
| 5. Global Prime | 161 | 4.5 ⭐ |
| 6. BlackBull Markets | 808 | 4.5 ⭐ |
| 7. eToro | 25,095 | 4.2 ⭐ |
| 8. Libertex | 9,456 | 4.0 ⭐ |
| 9. Admirals | 1,851 | 3.9 ⭐ |
| 10. IG | 7,200 | 3.7 ⭐ |
Qatari Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. BlackBull Markets | 0.1 | 0.2 | 0.7 | 0.4 |
| 2. Libertex | 0.1 | 0.3 | 0.3 | 0.4 |
| 3. Admirals | 0.1 | 10 | 0.00003 | 1.00 |
| 4. Fusion Markets | 0.07 | 0.13 | 0.23 | 1.01 |
| 5. Global Prime | 0.13 | 0.28 | 0.28 | 1.11 |
| 6. IG | 0.85 | 0.9 | 0.9 | 1.40 |
| 7. Spreadex | 0.6 | 9 | 0.9 | 0.8 |
| 8. Pepperstone | 1.00 (min) | 1.0 | 1.2 | 1.00 (min) |
| 9. eToro | 1.0 | 1.0 | 1.5 | 2.0 |
| 10. Forex.com | 1 | 1.2 | 1.3 | 1.3 |
Qatari Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. Spreadex | $0 |
| 2. Forex.com | $0 for Standard accounts; $5 per standard lot per side for Raw accounts |
| 3. IG | $0 |
| 4. Libertex | $0 |
| 5. eToro | $0 |
| 6. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 7. Admirals | $3 per lot |
| 8. BlackBull Markets | $0 Standard; $6 per lot Prime; $4 per lot Institutional |
| 9. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 10. Pepperstone | $0 (Standard Account), $7 round-turn (Razor Account) |
Important Note: While Qatari traders can join offshore brokers regulated offshore, they should only trust trading websites that operate following regulations imposed by the Qatari authorities. The Qatar Financial Markets Authority (QFMA) is one of the agencies responsible for the regulation of financial activities, including forex trading, in the territory of the Middle Eastern country. Meanwhile, Qatar’s Central Bank and the Qatar Financial Center Regulatory Authority (QFCRA) are also among the watchdogs managing the safety and fairness in the financial market of the country. You can learn more about the local regulators by visiting their official websites at www.qfma.org.qa, www.qcb.gov.qa, and www.qfcra.com.
Top 10 FX Brokers in Qatar
Fusion Markets Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView Trustpilot Rating 4.9 out of 1,862 reviews Number of CFD Forex Pairs to Trade 90+ Leverage Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 0.07
USDJPY: 0.13
EURGBP: 0.23
GBPUSD: 1.01Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay 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
- Has no FCA license
Global Prime Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.5 out of 161 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 1.11Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
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
eToro Broker Details Supports Arabic Yes Qatar Currency (QAR) No Regulators FCA, CySEC, ASIC, MFSA, ADGM, FSA, FINRA/FinCEN, AMF, SEC, GFSC Min Deposit $50 or $100 based on country ($10 for the UK) Trading Platforms eToro Investing, eToro App, TradingView, eToro CopyTrader Trustpilot Rating 4.2 out of 25,095 reviews Number of CFD Forex Pairs to Trade 55 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: Up to 1:2 (European and Australian Retail traders) Up to 1:5 (Pro and FSA traders)Spread EURUSD: 1.0
USDJPY: 1.0
EURGBP: 1.5
GBPUSD: 2.0Forex Commission per Lot per Trade $0 Deposit Methods eToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24 Withdrawal Methods PayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer Key Pros
- Offers trading with over 5,000 instruments
- Ideal for social and copy trading
- No commissions on forex trades
- Effortless registration process
- Offers negative balance protection
Key Cons
- Withdrawals are subject to additional processing fees ($5)
- USD is the only base account currency
- Charges inactivity fees on dormant accounts
Pepperstone Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators UK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas) Min Deposit $0 Trading Platforms TradingView, MT5, MT4, cTrader Trustpilot Rating 4.6 out of 2,789 reviews Number of CFD Forex Pairs to Trade 90+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.00 (min)
USDJPY: 1.0
EURGBP: 1.2
GBPUSD: 1.00 (min)Forex Commission per Lot per Trade $0 (Standard Account), $7 round-turn (Razor Account) Deposit Methods Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill Withdrawal Methods Visa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill 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
Admirals Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators CySEC (No. 201/13), ASIC (No. 410681), FCA (No. 595450), JSC (No. 57026), FSCA (No. FSP51311), EFSA (No. 4.1-1/46), CMA (No. 178), CIRO, FSA (No.SD073) Min Deposit $100 ($1 for Invest MT5 Account) Trading Platforms MT4, MT5, WebTrader, MT Supreme Edition, StereoTrader Trustpilot Rating 3.9 out of 1,851 reviews Number of CFD Forex Pairs to Trade 82 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.1
USDJPY: 10
EURGBP: 0.00003
GBPUSD: 1.00Forex Commission per Lot per Trade $3 per lot Deposit Methods Visa, Mastercard, Skrill, Klarna, Bank Transfer, PayPal, Neteller, iDeal, POLi, Perfect Money, Cryptocurrencies Withdrawal Methods Bank transfer, Visa, Mastercard, PayPal, Neteller, Skrill, Perfect Money Key Pros
- Over 8,000 markets available
- 80 forex pairs tradable through CFDs
- Swap-free forex accounts for Islamic customers
- Offers forex trading in micro lots
- No fees on deposits
Key Cons
- Only one free withdrawal per calendar month
- Does not trade publicly on a stock exchange
IG Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda) Min Deposit $50 Trading Platforms MT4, L2 Dealer, ProRealTime, IG proprietary software, TradingView Trustpilot Rating 3.7 out of 7,200 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.85
USDJPY: 0.9
EURGBP: 0.9
GBPUSD: 1.40Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAY Withdrawal Methods Visa, Visa Electron, Mastercard, Discover, Bank Transfer Key Pros
- Towering selection of over 17,000 tradable markets
- Listed on the FTSE 250 index
- Competitive pricing and low forex spreads
- No fees on deposits or withdrawals
- Demo accounts for risk-free forex trading practice
Key Cons
- Payment options are a bit limited
- Customer support is slow to respond during busy hours
BlackBull Markets Broker Details Supports Arabic Yes Qatar Currency (QAR) No Regulators SFSA (No. SD045), FMA (No. FSP403326), FSA Min Deposit $0 (Standard)$2,000 (Prime)$20,000 (Institutional) Trading Platforms MT4, MT5, TradingView, cTrader, MT WebTrader, BlackBull Shares, BlackBull CopyTrader, BlackBull Trade, BlackBull Invest, ZuluTrade Trustpilot Rating 4.5 out of 808 reviews Number of CFD Forex Pairs to Trade 70+ Leverage Forex & Metals CFDs: 1:500
Index CFDs: 1:500
Cryptocurrencie CFDs: 1:500Spread EURUSD: 0.1
USDJPY: 0.2
EURGBP: 0.7
GBPUSD: 0.4Forex Commission per Lot per Trade $0 Standard; $6 per lot Prime; $4 per lot Institutional Deposit Methods Visa, 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 Methods Visa, 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 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
Spreadex Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators FCA (No. 190941) Min Deposit $0 Trading Platforms TradingView, proprietary software Trustpilot Rating 4.5 out of 113 reviews Number of CFD Forex Pairs to Trade 60+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.6
USDJPY: 9
EURGBP: 0.9
GBPUSD: 0.8Forex Commission per Lot per Trade $0 Deposit Methods Mastercard, Visa, Maestro, Direct Debit, Check, Bank Transfer Withdrawal Methods Visa, Maestro, Mastercard, Bank Transfer, Check 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
Forex.com Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators ASIC, MAS, FCA, CIRO, JFSA, CFTC, CySEC, CIMA, SFC, CySEC Min Deposit $100 Trading Platforms MetaTrader 4, MetaTrader 5, TradingView, WebTrader, NinjaTrader Trustpilot Rating 4.5 out of 1,668 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1
USDJPY: 1.2
EURGBP: 1.3
GBPUSD: 1.3Forex Commission per Lot per Trade $0 for Standard accounts; $5 per standard lot per side for Raw accounts Deposit Methods Visa, Mastercard, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, Skrill, Neteller, Bank Transfer 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
Libertex Broker Details Supports Arabic No Qatar Currency (QAR) No Regulators CySEC (CIF Licence number 164/12), BaFin (BaFin ID: 10161686 / Bak No.: 161686) Min Deposit $10 Trading Platforms Libretex Trading Platform, MT4, MT5 Trustpilot Rating 4.0 out of 9,456 reviews Number of CFD Forex Pairs to Trade 50+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.1
USDJPY: 0.3
EURGBP: 0.3
GBPUSD: 0.4Forex Commission per Lot per Trade $0 Deposit Methods PayPal, Visa, Mastercard, Sofort, iDeal, Trustly, Skrill, Giropay, Sepa International Bank Wire, Multibanco, P24, BLIK, Eps, Neteller Withdrawal Methods SEPA International Bank Wire, PayPal, Visa Mastercard, Skrill, Neteller Key Pros
- Great variety in terms of markets
- Users have a range of deposit and cashout solutions to pick from
- Available in English, Spanish, French, Portuguese, and other languages
- Negative balance protection
- Traders can contact the customer support staff via live chat
Key Cons
- No longer available for UK traders
- Does not accept traders from the US
- Somewhat lacking in terms of educational resources
Is Forex Trading Legal in Qatar?
Forex trading is fully regulated and legal in Qatar, with the regulation of this market falling under the remit of the QFMA. Meanwhile, the QFCRA is another regulatory body in the Middle Eastern country, responsible for the investigation of financial crimes and taking measures to ensure the safety of Qatari traders. Both of these bodies can authorize the operations of local brokers who wish to cater to the needs of Qatari traders.
The Qatar Financial Center (QFC), which is the name of the business and financial center located in Doha, Qatar, is mainly regulated by the QFCRA. This organization was established under Law No. 7 of 2005, and its responsibilities include monitoring both individuals and businesses that conduct financial services either in or out of the QFC.
Since there are still no forex brokers that have been licensed by local regulators, Qatari traders prefer forex brokers regulated offshore, with most reputable brands being authorized to operate by authorities like the FCA, FSA, CySEC, or MAS. While many offshore brokers will accept customers from Qatar, traders must take into account a couple of factors whenever they pick a broker. Qatari trading enthusiasts should opt for trading brands that are properly regulated and support so-called Islamic accounts, which are compliant with the Sharia law.
Islamic accounts, also referred to as swap-free, will not have any swap or interest charges applied to overnight positions. This will allow Qataris to trade their Islamic forex accounts without breaking the Sharia law. What is more, many offshore brokers will support Arabic, enabling a smoother trading experience for Qataris.
If they pick any of the brokers hand-picked by our team, Qatari forex traders are guaranteed a safe and fair trading experience online. With reputable regulatory bodies imposing strict regulations like leverage maximums, account segregations, AML practices, and more, Qatari traders usually have plenty of trustworthy brand options to choose from.
Qatari Forex Trading Regulation Info
As already mentioned, there are three regulators responsible for overseeing the trading sector in Qatar. While the Central Bank used to have a bigger role in controlling forex trading operations, nowadays, it is mainly concerned with the local currency’s peg to the USD, maintaining the fixed rate of 3.64 QAR for 1 USD since July 2001.
Since 2005, the QFMA has been working in partnership with the local Central Bank and the Ministry of Economy to ensure a more competitive, secure, and fair financial market in Qatar. The regulatory body is also responsible for the regulation of financial service providers operating in the territory of the Middle Eastern country. The QFCRA was also established in 2005 and is currently one of the watchdogs in Qatar as well as one of the leading financial regulators in the Middle East. Its main role is to authorize as well as monitor the operations of entities offering financial services in the QFC.
In order to obtain an operating license from the QFMA, brokerage companies are required to submit several documents that will hopefully prove their eligibility for trading licenses. It should be noted that there is a 5,000 QR fee paid during the submission of the documents that will be reviewed by the QFMA. To ensure they can handle their customers’ orders, license applicants are required to prove a minimum operational capital that may range between 3 million QR and 20 million QR, depending on the assets the broker will offer to its customers.
The review of license applications usually takes about 30 days to be completed. Once issued, a QFMA license will be valid for three years and will be active until the last day of December of the third year after the issuing of the license.
How Can I Verify Qatari Trading Authorization?
At the moment of writing this article, there still have not been any local brokers that have obtained licenses from regulators in Qatar. That is why local traders are recommended to opt for trading with offshore brokers that have been licensed by any of the tier-1 regulators of the global forex sector. That said, we will provide you with easy steps to confirm whether a broker has been licensed by the authorities in Qatar or any other reputable regulator.
If a forex broker has obtained permission to offer forex trading and other financial services from the QFMA, FCA, ASIC, or another regulatory body, it should list information about its regulation by local authorities as well as the licenses it has obtained. You can also head to the official website of the QFMA or the rest of the regulators you see on the broker’s website and ask the support center for additional information on any brokerage operator.
Are My Funds Safe with Forex Brokers in Qatar?
If you have entrusted a Qatari-friendly broker with your money and started trading with such a company, you can be certain that your funds will be properly protected. Regulatory bodies across different parts of the world are aiming to provide a fair and secure trading environment for global traders. That is why brokers must meet a wide range of conditions in order to obtain forex trading licenses.
As already covered above, in order to receive an operational license from local authorities, brokers must ensure a certain operational minimum capital. That guarantees that financial companies have the means of processing large volumes and fulfilling their customers’ orders. In addition, brokers are required to keep their clients’ funds in separate accounts, ensuring that even if the company goes bankrupt, traders’ money will be safe as it will be kept in a segregated account.
Qatari regulators are also adamant about licensed entities implementing AML measures that will help the sector combat any fraudulent activities related to money laundering or terrorist financing. To avoid identity thefts, brokers are also required to implement mandatory accounts checkups. This is the reason behind the mandatory KYC (Know Your Customer) process that Qatari traders are asked to go through whenever opening accounts with regulated brokers.
Do Qatari Brokers Provide Negative Balance Protection?
With many offshore brokers catering to the needs of Qatari traders, it is also great that brands regulated by tier-1 authorities are also implementing a wide selection of tools to protect one’s funds while trading. One of the instruments that a large number of brokers can offer Qatari traders is the negative balance protection feature.
When retail traders have this additional layer of protection applied to their accounts, they can rest assured that they will never owe the broker any money. Since high leverage can often expose traders to huge risks, their losses can easily exceed the amount available in their balances. However, with negative balance protection, traders’ losses cannot be bigger than the amount they have already deposited into their accounts.
Do You Pay Tax on Forex Trading in Qatar?
At the moment, Qatar is considered one of the best places for forex trading, with local authorities requiring no taxes to be paid on earnings accumulated through this type of activity. While there is a 10% capital gains tax on generated net income, this type of levy is applied only to corporate profits and is taxed alongside the corporate tax in Qatar. If you are trading currency pairs as an individual, you are not obligated to pay any taxes on your forex trading gains. That said, as laws tend to be amended quite often, we recommend that Qatari traders contact local tax professionals to always stay abreast of any changes in the tax framework linked to forex trading in Qatar.
How does the Available Leverage in Qatar Compare to the Leverage Offered by Brokers Regulated Offshore?
As we mentioned, there are still no forex brokers licensed by Qatari authorities, so it is difficult to draw any comparisons. That said, we can say for certain that currently, there is no set leverage maximum determined for forex trading in Qatar. With locals being able to join a wide range of foreign brokers, they might have access to currency pair trading with ranging leverage ratios.
Depending on the regulator authorizing the trading operations of a broker, the maximum allowed leverage can vary. If Qatari traders join a brand licensed by the FCA, ASIC, CySEC, or any reputable regulators across the EU, they will have the opportunity to trade major pairs with a maximum leverage of 1:30, while the leverage cap on exotic pairs is expected to not exceed 1:20. Meanwhile, brokers that have been authorized to operate in the US will be allowed to offer a maximum leverage of up to 1:50.
The aforementioned ratios have been significantly reduced compared to the maximums allowed in jurisdictions such as Indonesia or Seychelles, where the leverage can go as high as 1:1000 and 1:5000, respectively. Of course, these ratios may sound very tempting to those who wish to make use of higher leverage but they can also be extremely risky, often leading to massive losses. That is why it is recommended that Qatari traders pick brokers that prefer a more reasonable approach, offering low-risk leverage options.
What Do You Need to Qualify to be Designated as a Professional Trader in Qatar?
Qatari traders may be often allowed to apply for professional trading accounts when they trade on offshore broker websites. There are plenty of exclusive perks that are available only to professional clients, with higher leverage ratios and lower commissions being just a few of them. It should be noted that professional trading is suitable for investors who prefer riskier trading and can afford to lose bigger sums.
To qualify for professional trading status, Qatari traders will be asked to meet several specific conditions. While these may differ depending on the jurisdiction where the broker has been authorized to operate, generally, professional traders would be knowledgeable enough, experienced in trading, and have the financial means to support their high-volume operations. In most cases, it is enough to meet a couple of the requirements to count as a professional trader but it is recommended to contact the broker’s support agents to confirm what you will need to qualify for a professional trading account.
Experience in trading is usually proven by taking a look at the transactions you have completed in the last 12 months. For instance, EU-regulated brokers require traders to have made at least 10 high-volume transactions per quarter in the last 12 months. Meanwhile, individuals who have a working experience of at least one year in the financial markets field are usually considered knowledgeable enough to classify as professional traders.
Having a portfolio of financial instruments of a certain minimum amount is the condition that traders usually need to meet to be qualified for professional trading accounts. Depending on the regulator managing the operations of the broker, that amount can be around €/$500,000 but it is always recommended to check this type of condition prior to applying for a professional trading upgrade.
What Trading Platforms Are Available to Qatari Traders?
With Qatari traders having the chance to join a wide range of reputable offshore regulated brokers, they will have access to some of the most popular trading platforms. That allows traders to handle their orders with ease, making use of various instruments and enjoying fast executions. While it is possible to come across brands that offer their exclusive proprietary platforms, Qatari traders will also have access to popular platforms like MT4, MT5, and cTrader, just to name a few.
MetaTrader 4: Probably one of the most commonly used platforms for forex trading, MT4 allows easy order placement, with a decent selection of instruments allowing market evaluation. Automated trading and copy trading are some of the great features incorporated into the platform’s functionalities, allowing easy trading for both beginners and experienced traders.
MetaTrader 5: Great for more advanced trading, featuring forex, stocks, CFDs, and futures markets. With great charting instruments and tools enabling technical analysis, MT5 is a wonderful option that enables easy trading. Featured at a wide range of Qatari-friendly brokers, MT5 is typically adapted for both desktop and mobile devices, enabling seamless trading at any time and place.
cTrader: Qatari traders may also come across quite a few forex brokers featuring the cTrader platform. Many would describe it as an option allowing a more modern approach to trading, with drawing tools, charts, and great analytical instruments being available to platform users. With cTrader, investors can get a better insight into various markets, and fast executions are definitely another great perk that anyone would enjoy.Below you can find some useful references with links to organisations that monitor the forex market in Qatar.
- QFMA (The Qatar Financial Markets Authority): Homepage of one of Qatar’s financial regulators.
- QFMA Licensing Details: If you are curious about the licensing process and the types of licences firms offering financial services to Qatari residents can get, you can pay a visit to this page.
- QCB (Qatar Central Bank): This link directs traders to the website of the Central Bank of Qatar.
- QFCRA (Qatar Financial Center Regulatory Authority): Here, traders can pay a visit to the website of the third entity that oversees the financial market of Qatar.
- QFCRA CDRS (Customer Dispute Resolution Scheme): Here, you can find more about how the QFCRA handles complaints.
- CDRS Complaint Instructions: If you run into issues with an entity licensed to operate in Qatar, the QFCRA has outlined what the process looks like.
- CDRS Complaint E-Form: This is the form that must be submitted when one needs to issue a complaint against a given entity.