9 Best Forex Brokers in Armenia
Last Update: April 30th, 2024
9 Best Forex Brokers in Armenia – Rated and Reviewed. We have compiled a list of the Top 9 Forex Brokers accepting Armenian Traders.
In this in-depth article, you will learn:
- The Best Forex Brokers Accepting Armenian Traders
- Is Forex available, Legal, and, Regulated in Armenia?
- Can I trade Forex in Armenia without a Broker?
- The Best Armenian Forex Brokers for Beginners
and much, MUCH more!
9 Best Forex Brokers in Armenia – a Comparison
| 🔎 Broker | 🚀 Open an Account | 🤝 Accepts Armenian Traders | 💶 Min. Deposit (AMD) |
| 🥇 Interactive Brokers | 👉 Click Here | ✅Yes | None |
| 🥈 XTB | 👉 Click Here | ✅Yes | None |
| 🥉 IC Markets | 👉 Click Here | ✅Yes | 79081,76 AMD |
| 🎖️ AvaTrade | 👉 Click Here | ✅Yes | 39540,88 AMD |
| 🥇 Oanda | 👉 Click Here | ✅Yes | None |
| 🥈 Admirals | 👉 Click Here | ✅Yes | 9885,22 AMD |
| 🥉 CMC Markets | 👉 Click Here | ✅Yes | None |
| 🏅 Pepperstone | 👉 Click Here | ✅Yes | None |
| 🎖️ FP Markets | 👉 Click Here | ✅Yes | 39540,88 AMD |
9 Best Forex Brokers in Armenia (2024)
- ☑️ Interactive Brokers – Overall, the Best Forex Broker accepting Armenian Traders.
- ☑️ XTB – Commission-free stocks and ETFs.
- ☑️ IC Markets – Free deposit and withdrawal.
- ☑️ AvaTrade – Highly Regulated Forex Broker.
- ☑️ Oanda – Fast and user-friendly account opening.
- ☑️ Admirals – Low AMD forex CFD fees.
- ☑️ CMC Markets – High User Trust Score.
- ☑️ Pepperstone – Best Forex Broker for Beginners in Armenia.
- ☑️ FP Markets – Great Mobile Trading Platform.
Interactive Brokers
As an American multinational brokerage firm, Interactive Brokers falls under the regulatory authority of the SEC, FINRA, and, the FCA. Furthermore, Interactive Brokers provides 7 account Types, including Individual, Joint, and, Trust. No minimum deposit is required to open an account.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low commissions and fees | Intimidating Platform |
| Excellent educational materials | Complex tiered pricing plans |
| Reliable trade execution | Lacking Customer Support |
Our Insights
In our opinion, professional investors in Armenia will find Interactive Brokers an excellent choice. It provides comprehensive trading platforms, multiple account options, and an impressive range of tradable assets.
However, this broker does not suit beginners well. The platform classes Trading Fees as Low but can be extremely overwhelming.
XTB
As one of the largest stock exchange-listed Forex and CFD brokers, XTB has offices in the UK, Poland, and Germany. XTB is regulated by a selection of the world’s most trusted supervision authorities, including the FCA, KNF, FSC, and, CySEC.
Furthermore, XTB offers access to a Standard Account, with no minimum deposit required.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Commission-free stocks and ETFs | Inactivity fee charged |
| Free Deposit and Withdrawal | Limited Demo Account |
| Easy and fast account opening | Single Trading Platform |
Our Insights
We have found XTB to be a good Broker Choice for Armenian beginners and professionals. However, the account types and trading platforms are limited. Furthermore, Customer Support only offers services 24/5.
IC Markets
As one of the most renowned Forex CFD providers, IC Markets is known for its core values of Integrity, Trust, and transparency. Traders in Armenia will have access to 3 Account types, cTrader, Raw Spread, and Standard. The minimum deposit required is 200 USD / 79,081.76 AMD.
Trading Platforms offered include MT4, MT5, cTrader, and, TradingView. Furthermore, IC Markets is regulated by the Financial Services Authority.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low forex fees | Limited product selection |
| Easy and fast account opening | High financing rate for CFDs |
Our Insights
We consider IC Markets to be one of the most user-friendly Brokers on offer to Armenian Traders. Additionally, with multiple account choices and fair trading fees, it is suitable for Beginners.
Furthermore, we consider IC Markets safe, as it offers Negative balance protection, segregated accounts, and trusted regulation.
AvaTrade
With multiple regulations, a global presence across 6 continents, and, generous trading conditions, AvaTrade offers access to a world-class trading experience. Furthermore, 4 Account types, namely Retail, Professional, Islamic, and MAM are coupled with multiple trading platforms, including MT4, and MT5.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Free deposit and withdrawal | High inactivity fees |
| Great research tools | Slow withdrawal |
Our Insights
We have found AvaTrade to be one of the Best Forex Brokers in Armenia. It offers suitable trading services to both Novis and Professional traders. However, the website itself was found to be not user-friendly, and finding information on selected topics, such as account types, proved to be complicated.
OANDA
As an award-winning global company, OANDA offers currency solutions for both retail and corporate clients. Furthermore, OANDA is regulated by multiple top-tier authorities and additional safety measures are in place, including Negative Balance Protection.
OANDA offers 2 account types, Standard and Elite Trader, partnered with excellent trading platforms, namely MetaTrader 4 and Oanda Mobile. Finally, a minimum deposit is not required.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great trading platforms | Only FX and CFD available for most clients |
| Outstanding research tools | Lacking Customer Support |
| Low trading fees | Inactivity fee |
Our Insights
We compared OANDA’s fees with similar Brokers and found them to be low. No account or deposit fees are required. OANDA caters to both novice and advanced traders. However, it should be noted that OANDA operates multiple entities.
Therefore, traders should ensure that they are signing up for the correct option.
Admirals
Admirals Markets, or Admirals, is a well-regulated and safe broker choice, falling under the regulatory authority of the FSCA. 4 Account types are made available, namely Trade.MT5, Zero.MT5, Trade.MT4 and Zero.MT4.
Furthermore, Negative balance protection and client fund segregation are available on both accounts with a minimum deposit required of 25 USD/9885,22 AMD. Traders can choose to trade via MetaTrader 5 or MetaTrader Web Trader.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low forex CFD fees | Inactivity fee |
| Free deposit and withdrawal | No 24/7 customer service |
Our Insights
We find Admirlals to be one of the most user-friendly Forex Brokers available. Furthermore, it offers an easy account registration process with low trading fees. However, when compared to similar brokers, the minimum deposit of 100 USD is classed as high.
CMC Markets
With thousands of spread betting and CFD instruments to trade, CMC Markets is a popular choice amongst Armenian Traders. CMC Markets offers access to multiple account types, the availability of which depends on the country of trade.
Furthermore, No minimum deposit is required for any account, on any CMC Markets entity.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low forex fees | 24/5 Customer Support |
| Great mobile platforms | Limited Trading Platforms |
Our Insights
CMC Markets is one of the Best Forex Brokers in Armenia, in our opinion, and an excellent option for high-frequency and active traders. Additionally, the broker is considered safe with no minimum deposits and low trading fees.
Pepperstone
As an Australian online broker that provides CFD trading to multiple countries across the globe, Pepperstone has established itself as a popular choice amongst Armenian Traders. Additionally, Pepperstone is an ASIC, FCA, and CMA Regulated broker that keeps its clients’ funds in segregated accounts.
Furthermore, traders can select a Razor or Standard Account with the cTrader, Mt4, and, MT5 trading platforms available on both. Pepperstone does not set a minimum deposit.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great customer service | Limited Trading Platforms |
| Low forex fees | High Overnight Fees |
Our Insights
Pepperstone is ideal for traders who are satisfied with a straightforward MetaTrader platform and who enjoy the absence of deposit, withdrawal, and inactivity fees. We are impressed by these features and find the website clear and user-friendly.
FP Markets
By offering the ability to trade Forex, Shares, Indices, Commodities, and, Crypto, FP Markets has established itself as a trusted Broker with an impressive reputation. Furthermore, 2 Account Types are on Offer, Standard, and Raw, with MT4/MT5 available on both.
A minimum deposit of 1oo USD/39540,88 AMD is required. Additionally, a Demo and Islamic Account is made available.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low forex fees | Limited product portfolio |
| Negative balance protection | Selected Withdrawal Fees |
Our Insights
FP Markets offers a competitive commission-based Forex cost structure with impressive account options, trusted trading platforms, and, excellent customer support. When comparing its offerings to those of Competitors, the AMD deposit from 100 USD/39540,88 seems steep.
Is Forex Trading Legal in Armenia?
Forex Trading is available, legal, and regulated in Armenia. Armenia residents are free to hold foreign currency accounts and import, export, and exchange foreign currency. Forex Trading in Armenia falls under the regulatory authority of the Central Bank of Armenia and the Law on Currency Control.
Regulation of Forex Trading in Armenia
Forex Trading in Armenia falls under the regulatory authority of the Central Bank of Armenia and the Law on Currency Control. The Central Bank of Armenia (CBA) is an independent institution responsible for issuing all banknotes and coins in the country.
In Conclusion
Forex Trading in Armenia can potentially be extremely profitable. However, Armenian Traders must consider multiple factors such as Regulations, Account Types, and Customer Support before registering a live trading account.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
Our Insights
In the process of reviewing the Best Forex Brokers that accept Armenian Traders, we found 9 excellent options. Each broker has its list of Benefits, ranging from multiple account types to Multilingual Customer Support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Frequently Asked Questions
Is Forex Trading Legal in Armenia?
Yes. Forex Trading is legal and regulated in Armenia.
Who regulates Forex Trading in Armenia?
Forex Trading in Armenia is regulated by the Central Bank of Armenia and the Law on Currency Control.
Who is the most popular Forex Broker in Armenia?
AvaTrade is the most popular Forex Broker in Armenia.
What is important to consider when choosing a Forex Broker in Armenia?
Regulation and Safety. Additional factors include trading fees and customer support.
Can I Trade Forex without a Broker?
Forex Brokers act as intermediaries. This makes Forex trading possible for individuals.
Top 4 Brokers
