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5 Best Forex Brokers in Libya

Last Update: June 26th, 2024

Forex Brokers Libya

 

The 5 Best Forex Brokers in Libya – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Libya.

 

In this in-depth guide you will learn:

  • The Best Forex Brokers in Libya – a List
  • Is Forex Trading Legal in Libya?
  • The Best Forex Brokers in Africa for Beginners
  • The Best MetaTrader Forex Brokers

and much, MUCH more.

 

5 Best Forex Brokers in Libya

 

5 Best Forex Brokers in Libya – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Libyan Traders💶 Min. Deposit (LYD)
🥇 AvaTrade👉 Click Here✅Yes484,83
🥈 XM👉 Click Here✅Yes24,24
🥉 HYCM👉 Click Here✅Yes96,97
🏅 TMGM👉 Click Here✅Yes484,83
🎖️ Tickmill👉 Click Here✅Yes484,83

 

5 Best Forex Brokers in Libya (2024)

  1. ☑️ AvaTrade – Overall, the Best Forex Broker in Libya
  2. ☑️ XM – Best Overall Experience
  3. ☑️ HYCM – Leading MetaTrader Forex Broker
  4. ☑️ TMGM – Best Online Trading Experience
  5. ☑️ Tickmill – Best Mobile Trading Experience

 

AvaTrade Review New

 

AvaTrade

AvaTrade is a highly regulated brokerage with a global presence. Regulations include ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, the JFSA. Accounts include Retail, Islamic, and, Professional. Moreover, a Demo Account is available. The minimum deposit is 100 USD. Notable Factors and features to consider include:

  • Access to a Referal Bonus
  • Base Currencies including ZAR, USD, GBP, and, AUD
  • Spreads from 0.6 Pips on the Pro Account
  • Spreads from 0.9 Pips on the Retail Account
  • Leverage of up to 1:30 (Retail)
  • Leverage of up to 1:400 (Pro)

 

Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. Trading Platforms available are:

In addition, Mobile Trading is available via the AvaTradeGO App. Furthermore, Scalping and Hedging are offered.

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

✅ Pros❌ Cons
Over 1,260 instrumentsInactivity fees on dormant accounts
Fixed spreads from 0.6 pips on the Pro AccountThe demo account is available for 21 days
Islamic AccountDeposit and withdrawal options are limited
There is a free demo account availableLeverage is capped at 1:30 for retail accounts

 

Our Insight

The Benefits of trading with AvaTrade include access to several award-winning trading platforms. Moreover, Copy and Social Trading are available.

 

XM Review

 

XM

XM is a well-established and highly regulated Financial Services provider. Regulations include FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA. Accounts available are Micro, Standard, Ultra-Low, and, Shares. Moreover, a Demo Accounts and Isamic, Swap-Free Option is available. The minimum deposit is 5 USD. Notable Factors and features to consider include:

  • Micro and Ultra Low Accounts for Beginners
  • Spreads from 0.6 Pips
  • Leverage of up to 1:1000
  • Access to over 50 Currency Pairs

Trading Instruments include Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, and, Turbo Stocks. Trading Platforms available are:

  • MetaTrader 4
  • MetaTrader 5

 

In addition, a Proprietary Mobile Trading App is available.

🔎 Broker🥇 XM
💴 Minimum Deposit$5 USD
🎁 Bonus Offers ✅Yes
📈 Account TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
⏰ Support Hours24/7
🆓 Demo Account✅Yes
🚀 Open an Account
👉 Click Here

 

XM Overview

 

Pros and Cons

✅ Pros❌ Cons
Low Minimum depositNo social trading features available
Unlimited Demo AccountInactivity Fees

 

Our Insights

The Benefits of trading with XM are several base currencies and a low minimum deposit. Moreover, multilingual customer support is available.

 

HYCM Review

 

HYCM

HYCM is a highly regulated and well-established global financial services provider. Regulations include FCA, CySEC, CIMA, and, the DFSA. Accounts available are Fixed, Classic, and, Raw. Moreover, a Demo Account is available. The minimum deposit is 20 USD. Notable Factors and features to consider include:

  • 5 Base Currencies including USD and EUR
  • Spreads from 0.1 Pips
  • Leverage of up to 1:500
  • Over 60 Currency Pairs, including Major, Minor, and Exotic Pairs

Trading Instruments include Forex, Metals, Energies, Commodities, Indices, Stocks, and Cryptocurrencies. Trading Platforms available are MetaTrader 4, MetaTrader 5, and HYCM Trader. In addition, Scaling and Hedging are offered.

🔎 Broker🥇 HYCM
📈 Regulation and LicensesFCA, CySEC, CIMA, DFSA
📉 Ease of Use4/5
📊 Support Hours24/5
💹 Trading PlatformsMetaTrader 4, MetaTrader 5, HYCM trader
📌 Account TypesFixed, Classic, Raw
💰 Base CurrenciesUSD, EUR, GBP, AED, JPY
🅰️ SpreadsFrom 0.1 pips
🅱️ LeverageUp to 1:500
🚀Open an AccountOpen Account

 

HYCM

 

Pros and Cons

✅ Pros❌ Cons
Regulated by respectable agenciesCharges inactivity fees
Good range of instructional resourcesResearch services can appear basic
Narrow spreads on main Forex pairingsNeither copy nor social trading is currently accessible

 

Our Insights

The benefits of trading with HYCM include multilingual customer support and an affiliate program.

 

TMGM Review

 

TMGM

TMGM is a top-tier regulated Forex and CFD Broker. Regulations include ASIC, FMA, and, the VFSC. Accounts available are Classic, Edge, IRESS Standard, IRESS Premium, and, IRESS Gold. Moreover, a Demo Account and an Islamic, Swap-Free option are available. Notable Factors and features to consider include:

  • Spreads from 0.0 Pips
  • Leverage of up to 1:1000
  • Over 50 Currency Pairs, including Major, Minor, and, Exotic

 

Additional costs that must be taken into account include:

  • 30 USD after 6 months of inactivity
  • Commissions from $7

 

Trading Instruments include Forex, metals, shares, energies, crypto CFDs, and, Indices. Trading Platforms include MetaTrader 4, MetaTrader 5, IRESS, and, HUBx.

🔍 Broker🥇TMGM
💵 Minimum Deposit100 USD
4️⃣ Ease of use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

TMGM Review

 

Pros and Cons

✅ Pros❌ Cons
Quick order execution + little slippageRestricted Proprietary Platforms
MT4 and MT5Limited Demo Account

 

Our Insights

With additional trading Fees and a 100 USD Minimum deposit, TMGM best suit Established Traders.

 

Tickmill Review

 

Tickmill

Tickmill is a prominent forex and CFD broker with a Global reach. Regulations include CySEC and the FSCA. Accounts available include VIP, Classic, and, Pro. Moreover, a Swap-Free Account and Demo Option is available. The minimum deposit is 100 USD. Notable Factors and features to consider include:

  • Spreads from 0.0 Pips
  • Leverage of up to 1:500
  • Multiple Base Currencies
  • No Inactivity Fee is charged

 

Trading Instruments include Forex, stock indices, energy indices, precious metals, bonds, cryptocurrencies, stocks, and, ETFs. Tickmill Support MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile App is available.

🔎 Broker🥇 Tickmill
💴 Minimum Deposit$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips on the Pro and VIP Accounts
📉 Leverage1:500
💶 Currency Pairs62, major, minor, and exotic pairs
📊 Scalping✅Yes
💹 Hedging✅Yes
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, Tickmill App
⏰ Support Hours24/5
🚀 Open an Account
👉 Click Here

 

Tickmill Overview

 

Pros and Cons

✅ Pros❌ Cons
MetaTrader 4 and MetaTrader 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Our Insights

It should be noted that trading with Tickmill is not commission-free. Tickmill is best suited to established and active traders.

 

5 Best Forex Brokers in Libya

 

In Conclusion

Forex Trading in Libya operates within a grey area. It is legal and available without restriction. However, it is not specifically regulated by a local regulatory authority.

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 ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker >>

 

Our Insights

While reviewing the Best Forex Brokers that accept Libyan Traders, we found 5 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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FAQs

Forex Trading in Libya is Legal and available without restriction.

The AvaTrade minimum deposit is 100 USD.

24//7 Customer Support is available.

HYCM supports MetaTrader 4 and MetaTrader 5.

Regulations include ASIC, FMA, and, the VFSC.

Over 60 Currency Pairs, including Major, Minor, and, Exotic Pairs.

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