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6 Best Forex Brokers in Egypt

Last Update: April 8th, 2024

Best Forex Brokers in Egypt

 

The 6 best Forex brokers in Egypt revealed. We have explored and tested several prominent brokers to identify the list of the 6 best brokers.

 

In this in-depth guide you’ll learn:

  • What is a Forex broker in Egypt.
  • Who are the best brokers in Egypt.
  • Pros and cons of each broker.
  • Conclusion on 6 best Forex Brokers in Egypt.
  • FAQs on the 6 best Forex brokers in Egypt.

 

And lots more…

So, if you’re ready to go “all in” with 6 best Forex brokers in Egypt…

Let’s dive right in…

 

🏆 10 Best Forex Brokers

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewSFSA, FSCA, CySec*USD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewNot Regulated0.001 BTCVisit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewSVGFSAUSD 5Visit Broker >>

 

6 Best Forex Brokers in Egypt (2024*)

  1. ☑️Ava Trade – Overall Best Forex Broker in Egypt.
  2. ☑️eToro – Instant execution of orders.
  3. ☑️FP Markets – low-cost structure enhances profitability.
  4. ☑️Interactive Brokers – Gives Diverse global opportunities.
  5. ☑️XTB – Offers competitive pricing structures.
  6. ☑️FXTM – Provides access to deep liquidity pools.

 

What is a Forex broker in Egypt?

 

An international Forex broker offers Egyptian traders access to global currency markets, enabling them to buy, sell, and exchange currencies. With advanced trading platforms, real-time market data, and diverse financial instruments, traders in Egypt can capitalize on currency fluctuations, hedge risks, and participate in the dynamic world of foreign exchange trading.

 

Top 6 Forex Brokers in Egypt

👥 Brokers👉 Open Account💰 Minimum Deposit⚖️ Regulation✔️ Demo Accounts
AvaTrade👉 Open Account$100Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC✔️
eToro👉 Open Account$50CySEC, FCA, ASIC✔️
FP Markets👉 Open Account$100ASIC, CySEC✔️
Interactive Brokers👉 Open AccountNo specific amountSEC, CFTC, FCA✔️
XTB👉 Open AccountNo specific amountFCA, CySEC, IFSC✔️
FXTM👉 Open Account$10FSC, FCA, CMA✔️

 

AvaTrade

 

Overview

AvaTrade presents a compelling option for traders in Egypt due to several key features tailored to their needs.

 

With competitive spreads on major currency pairs like EUR/USD averaging as low as 0.9 pips, traders can execute trades with minimal costs, enhancing profitability.

 

The broker offers a range of account types, including Islamic accounts compliant with Sharia law, accommodating diverse trading preferences and religious considerations.

 

AvaTrade

 

Moreover, AvaTrade provides access to versatile trading platforms such as MetaTrader 4 and AvaTradeGO, ensuring a seamless trading experience across devices.

 

These platforms offer advanced charting tools, technical analysis capabilities, and customizable interfaces, empowering traders to execute strategies effectively.

 

In addition to forex trading, AvaTrade offers a diverse array of assets including commodities, indices, stocks, and cryptocurrencies, allowing Egyptian traders to diversify their portfolios and seize opportunities across global markets.

 

This comprehensive offering, combined with AvaTrade’s reputation for reliability and regulation by multiple authorities, makes it a compelling choice for traders in Egypt seeking a robust and accessible trading solution.

 

Unique Features

FeatureInformation
🏛️ RegulationIIROC, Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
📲 Social Media PlatformsInstagram
Facebook
X
You Tube
LinkedIn
Telegram
💻 Trading AccountsRetail Account, Professional Account
📊 Trading PlatformsAvaTradeGO
AvaOptions
AvaSocial
MetaTrader 4
MetaTrader 5
DupliTrade
ZuluTrade
Minimum Deposit in EGPEGP3,093.87 or $100
📉 Trading AssetsForex
Stocks
Commodities
Cryptocurrencies
Treasuries
Bonds
Indices
Exchange-Traded Funds (ETFs)
Options
Contracts for Difference (CFDs)
Precious Metals
AED-based Account?No
AED Deposits Allowed?No
➕ Bonuses for traders?✔️ Yes
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

AvaTrade Pros and Cons

✔️ Pros❌ Cons
AvaTrade creates an environment conducive to profitable trading.Currently, variable spreads are not offered
Demo and Islamic accounts are both available. Since its inception, AvaTrade has won numerous honours and built a solid reputation.Only two types of retail trading accounts are available
There are around 1,250 tradable assets available in financial markets.Dormant accounts incur an inactivity fee
AvaTrade offers skilled traders the necessary trading instruments they require.
A variety of complex and novel trading strategies are available for investigation.

 

Trust Score

AvaTrade has a high trust score of 96%.

 

eToro

 

Overview

eToro stands out as an attractive option for traders in Egypt due to its innovative platform features, competitive spreads, diverse asset selection, and flexible account options.

 

The platform’s signature feature is its social trading functionality, which allows users to interact, share trading ideas, and even replicate the trades of successful investors.

 

This feature is particularly beneficial for novice traders in Egypt seeking guidance and learning opportunities from more experienced peers.

 

eToro

 

eToro offers competitive spreads on major currency pairs like EUR/USD, typically ranging from 1 to 3 pips, enabling cost-effective trading.

 

Additionally, the platform provides access to a wide range of assets including stocks, cryptocurrencies, commodities, and indices, allowing Egyptian traders to diversify their portfolios according to their preferences and risk tolerance.

 

Furthermore, eToro offers various account types, including Islamic accounts compliant with Sharia law, catering to the specific needs and preferences of traders in Egypt.

 

Overall, eToro’s user-friendly interface, social trading features, competitive spreads, diverse asset selection, and account flexibility make it a compelling choice for traders in Egypt looking to engage in global financial markets.

 

Unique Features

🏛️RegulationCySEC, FCA
📲Social Media PlatformsFacebook, Twitter, LinkedIn, YouTube, Instagram, Telegram
💻Trading AccountsPersonal Account, Professional Account, Corporate Account, Islamic Account
📊Trading PlatformeToro proprietary platform
Minimum Deposit in EGPEGP 1,546.87 or $50
📉 Trading AssetsStocks, Indices, ETFs, Currencies, Commodities, Crypto assets
EGP-based Account?No
EGP Deposits Allowed?No
➕ Bonuses for traders?Yes
📈Minimum spreadFrom 0.9 pips
💻Demo AccountYes
☪️Islamic AccountYes
👉 Open Account👉 Open Account

 

eToro Pros and Cons

✔️ Pros❌ Cons
Using eToro's cutting-edge social trading platform, new investors may quickly learn from experienced traders and even improve their tactics by seeing and duplicating successful investors' transactions.Although eToro offers certain basic research tools, such as news updates and market analysis, it may have fewer resources than other platforms, limiting advanced traders' capacity to conduct in-depth assessments.
eToro offers a wide range of trading instruments, allowing traders to diversify their portfolios on a single platform by selecting equities, cryptocurrencies, commodities, and currency pairs.eToro's cost structure includes spreads and overnight fees, which may be higher than those provided by other brokers. In addition, withdrawal and inactivity fees may apply in certain circumstances.
eToro's user-friendly design and straightforward platform make it appropriate for traders of all skill levels, including newbies.Compared to traditional trading platforms, social trading gives traders less control over their trades, while it can have some advantages. Users may rely heavily on the decisions of other traders, resulting in either wins or losses.
The platform's research capabilities and powerful charting features enhance trading even more.Because eToro is governed by various national laws, a user's location may limit access to specific features and products. Changes in rules or compliance standards have the potential to impact the platform's operations and products.
CopyPortfolios are different investment portfolios that are skillfully managed and conveniently accessible through eToro. This technology allows users to invest in an asset portfolio with a single click, making portfolio administration easier and saving time.

 

Trust Score

eToro has a trust score of 90%.

 

FP Markets

 

Overview

FP Markets presents itself as a favourable choice for traders in Egypt due to its competitive account conditions, tight spreads, advanced platform software, and comprehensive trading tools.

 

FP Markets offers various account types, including Standard, Raw, and Islamic accounts, catering to different trading styles and preferences. This diversity ensures that Egyptian traders can select an account that aligns with their needs and trading strategies.

 

FP Markets boasts competitive spreads across a wide range of asset classes, including major currency pairs like EUR/USD, often starting as low as 0.0 pips on Raw accounts.

 

FP Markets

 

This low-cost structure enhances profitability for traders in Egypt, especially those engaging in high-frequency trading or scalping strategies.

 

The broker provides access to industry-leading trading platforms such as MetaTrader 4 and MetaTrader 5, renowned for their reliability, advanced charting tools, and extensive customization options.

 

Additionally, FP Markets offers a suite of trading tools, including technical analysis indicators, economic calendars, and educational resources, empowering Egyptian traders to make informed decisions and optimize their trading performance.

 

Overall, FP Markets’ favourable account conditions, tight spreads, advanced platform software, and comprehensive trading tools position it as an attractive option for traders in Egypt.

 

Unique Features

Feature Information
🏛️ RegulationASIC, CySEC, FSCA, FCA and FSA
📲 Social Media PlatformsLinkedIn
Facebook
Twitter
You Tube
💻 Trading AccountsMT4/5 Standard Account, an MT4/5 Raw Account, an MT4/5 Islamic Standard Account, and an MT 4/5 Islamic Raw Account
📊 Trading PlatformsMetaTrader 4
MetaTrader 5
cTrader
IRESS
FP Markets App
Minimum Deposit in EGPEGP 3,093.31 or $100
📉 Trading AssetsForex Shares
Indices
Commodities
Cryptocurrencies
Bonds
ETFs
EGP-based Account?No
EGP Deposits Allowed?No
➕ Bonuses for traders? No
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

 

FP Markets Pros and Cons

✔️ Pros❌ Cons
The cutting-edge technology architecture of FP Markets is advantageous to traders.Owing to FP Markets' global orientation, support for certain local payment methods could be limited.
Traders can take advantage of comprehensive customer support provided by a skilled and committed crew.Although FP Markets offers a wide range of products, certain traders may be interested in local or specialist markets that they do not offer.
Traders have the option of trading with a broker who is subject to regulation by a variety of international regulatory bodies, including the FSA, FSC, ASIC, FSCA, and CySEC.Withdrawal fees are assessed by FP Markets for a number of payment options.
For traders who wish to advance their trading expertise, FP Markets provides a whole educational package.
In order to accommodate traders' diverse demands and trading preferences, FP Markets offers a range of account kinds.
Traders can use platforms like MetaTrader 4, cTrader, IRESS, and MetaTrader 5 to get access to sophisticated charting and analytical tools.
Traders can diversify their trading methods across asset classes by having access to a large range of global markets through FP Markets.
FP Markets keeps its minimum commission arrangements and competitive spreads in place.

 

Trust Score

FP Markets has a high trust score of 87%.

 

Interactive Brokers

 

Overview

Interactive Brokers (IB) stands out as an exceptional choice for advanced traders in Egypt due to its robust trading features tailored to meet the demands of sophisticated investors.

 

With access to over 135 markets in 33 countries, Egyptian traders can engage in diverse global opportunities across various asset classes, including stocks, options, futures, currencies, and bonds.

 

Interactive Brokers

 

IB’s trading platform offers advanced order types, sophisticated algorithms, and direct market access, enabling precise execution and efficient risk management for advanced trading strategies such as algorithmic trading, options spreads, and high-frequency trading.

 

The platform also provides extensive research and analytical tools, including real-time market data, customizable charts, and in-depth financial analysis, empowering Egyptian traders to conduct thorough market research and make informed decisions.

 

Moreover, Interactive Brokers’ competitive pricing structure, with low commissions and tight spreads, further enhances its appeal to advanced traders in Egypt seeking cost-effective access to global markets while executing complex trading strategies with precision and efficiency.

 

Unique Features

Feature Information
🏛️ RegulationSEC, CFTC, FCA
📲 Social Media PlatformsLinkedIn
Twitter
Facebook
YouTube
💻 Trading AccountsIndividual, Joint, Trust, IRA, Non-Professional Advisor, Family Office, Advisor, Advisor Client (including Non-Professional Advisor and Family Office), Broker Client, EmployeeTrack
📊 Trading PlatformsIBKR
Minimum Deposit in EGPThere is no specific minimum deposit required
📉 Trading AssetsGlobal Stocks, options, futures, currencies, cryptocurrencies
EGP-based Account?No
EGP Deposits Allowed?No
➕ Bonuses for traders?✔️Yes (except for US traders, as per US regulation)
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account❌ No
👉 Open Account👉 Open Account

 

Interactive Brokers Pros and Cons

✔️ Pros❌ Cons
Extensive range of financial instruments including stocks, options, futures, Forex, bonds, and more.Complex fee structure that may be confusing for some traders.
Direct market access (DMA) providing transparent and efficient trading execution.Higher minimum deposit requirements compared to some other brokers.
Competitive pricing with low commissions and margin rates.Steeper learning curve for beginners due to the advanced trading tools and features.
Powerful trading platforms such as Trader Workstation (TWS) and IBKR Mobile, offering advanced tools and analytics.Limited customer support options, primarily through email and chat.
Global presence with access to over 135 markets in 33 countries.Inactivity fees on dormant accounts.

 

Trust Score

Interactive Brokers has a trust score of 95%.

 

XTB

 

Overview

XTB offers a compelling array of features that make it an appealing choice for traders in Egypt.

 

The broker provides access to a wide range of financial instruments, including forex, commodities, indices, cryptocurrencies, and stocks, allowing Egyptian traders to diversify their portfolios according to their preferences and market outlook.

 

XTB’s trading platform is user-friendly and feature-rich, offering advanced charting tools, technical analysis indicators, and customizable interfaces.

 

XTB

 

This platform versatility ensures that traders in Egypt can execute their trading strategies efficiently and effectively.

 

Moreover, XTB’s competitive pricing structure, with tight spreads and low commissions, enhances profitability for Egyptian traders, particularly those engaging in high-frequency trading or scalping strategies.

 

Additionally, XTB offers educational resources and market analysis to support traders in Egypt, empowering them with the knowledge and insights needed to make informed trading decisions.

 

Overall, XTB’s comprehensive features, user-friendly platform, competitive pricing, and educational support make it a strong choice for traders in Egypt seeking a reliable and effective trading solution.

 

Unique Features

FeatureInformation
🏛️ RegulationFCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, IFSC
📲 Social Media PlatformsFacebook
Twitter
LinkedIn
YouTube
TikTok
Instagram
💻 Trading AccountsStandard Account
Swap-free Account
Islamic Account
Professional Account
📊 Trading PlatformsxStation 5
xStation Mobile
Minimum Deposit in EGPThere is no specific minimum deposit required
📉 Trading AssetsForex
Indices
Commodities
Stock CFDs
ETF CFDs
Cryptocurrencies
EGP-based Account?No
EGP Deposits Allowed?No
➕ Bonuses for traders?✔️ Yes (except in US, as per US regulation)
📈 Minimum spreadFrom 0.5 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes
👉 Open Account👉 Open Account

XTB Pros and Cons

✔️ Pros❌ Cons
xStation 5 is ideal for all tradersXTB has fewer tradable instruments compared to other brokers
XTB is known for its fast, high-quality customer supportInactivity fees apply
XTB offers several educational resourcesUK/EU clients are limited to 1:30 leverage
The spreads with XTB are reasonable Withdrawal fees applyWithdrawal fees apply
Withdrawal fees apply

 

Trust Score

XTB has a trust score of 95%.

 

FXTM

 

Overview

FXTM, or ForexTime, offers Egyptian traders a robust trading environment with features tailored to their needs.

 

The broker excels in order execution, leveraging advanced technology and multiple liquidity providers to ensure fast and reliable trade execution. This ensures that traders in Egypt can enter and exit positions swiftly, even during volatile market conditions.

 

FXTM

 

FXTM provides access to deep liquidity pools, enabling traders to execute large orders with minimal slippage. This liquidity ensures that Egyptian traders can trade various asset classes, including forex, commodities, indices, and cryptocurrencies, with confidence and efficiency.

 

Furthermore, FXTM offers competitive pricing with tight spreads and low commissions, enhancing profitability for traders in Egypt.

 

This cost-effective pricing structure, combined with reliable order execution and a diverse range of tradable assets, positions FXTM as a favourable choice for traders in Egypt seeking a comprehensive and efficient trading experience.

 

Unique Features

Feature Information
🏛️ RegulationCySEC, FSCA, FCA, FSC Mauritius
📲 Social Media PlatformsFacebook
Twitter
LinkedIn
Instagram
YouTube
Telegram
💻 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
📊 Trading PlatformsMetaTrader 4, MetaTrader 5, FXTM Trader
💰 Minimum Deposit$5
📉 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets
EGP-based Account?Yes
EGP Deposits Allowed?No
➕ Bonuses for traders?Yes
📈 Minimum spreadFrom 0.0 pips
💻 Demo Account✔️ Yes
☪️ Islamic Account✔️ Yes (Dubai customers only)
👉 Open Account👉 Open Account

 

FXTM Pros and Cons

✔️ Pros❌ Cons
Strong educational resources geared toward novicesSome accounts have relatively higher spreads.
Local customer service and presence in NigeriaThere is a limited selection of non-forex instruments
Offers flexible account types to NigeriansWithdrawal costs apply to some transactions
Regular local seminars and workshops are availableProfessional traders have limited access to advanced tools
Nigerians can register NGN-denominated trading accountsThere are limitations to scalping strategies

 

Trust Score

FXTM has a trust score of 93%.

 

Forex Brokers in Egypt

 

Conclusion

 

Overall, determining the optimal Forex broker in Egypt demands a nuanced evaluation of regulatory adherence, asset variety, pricing transparency, and platform sophistication. Each broker boasts distinct merits, yet prioritizing reliability, competitive fees, diverse asset coverage, and advanced trading tools is pivotal for maximizing trading efficacy and success.

 

Frequently Asked Questions

 

Are there any specific regulations governing Forex trading in Egypt?

 

Yes, Forex trading in Egypt is regulated by the Egyptian Financial Supervisory Authority (EFSA). Traders must adhere to EFSA regulations, including capital requirements, licensing, and compliance with Sharia law for Islamic accounts.

 

What payment methods are available for Forex trading in Egypt?

 

Traders in Egypt have access to various payment methods, including bank transfers, credit/debit cards, and e-wallets. Additionally, some brokers may offer localized payment options to facilitate deposits and withdrawals for Egyptian traders.

 

Are there any restrictions on trading specific currency pairs in Egypt?

 

While there are no specific restrictions on trading currency pairs in Egypt, traders should be mindful of any geopolitical or economic factors that may impact the availability or liquidity of certain pairs. It’s advisable to stay informed about global events affecting currency markets.

 

How can Egyptian traders manage currency exchange rate risks in Forex trading?

 

Egyptian traders can employ various risk management strategies such as using stop-loss orders, hedging with currency futures or options, or diversifying their portfolios across multiple currency pairs. Staying updated on economic indicators and geopolitical developments can also help anticipate currency movements.

 

Are there Sharia-compliant accounts available for traders in Egypt?

 

Yes, Forex trading can be permissible under Islamic law, provided it adheres to Sharia principles such as avoiding interest (riba) and speculative trading (gharar). Many brokers in Egypt offer Islamic accounts that comply with these principles by providing swap-free trading, where overnight interest charges are waived.