10 Best Forex Brokers in the Maldives
Last Update: April 30th, 2024
The 10 Best Forex Brokers in the Maldives – Rated and Reviewed. We have listed the top Forex Brokers accepting Maldivian Traders,
In this in-depth guide, you will learn:
- The Best Forex Brokers in the Maldives – a List.
- Is Forex Trading Legal in the Maldives?
- The Best Forbes List Forex Brokers for Professionals.
- The Best MT4/MT5 Forex Brokers for Beginners.
- The Best Islamic, Swap-Free Forex Brokers in the Maldives.
and much, MUCH more!
10 Best Forex Brokers in the Maldives – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Maldivian Traders | 💶 Min. Deposit (MVR) |
| 🥇 Tickmill | 👉 Click Here | ✅Yes | 1545,00 |
| 🥈 IC Markets | 👉 Click Here | ✅Yes | 3090,00 |
| 🥉 FP Markets | 👉 Click Here | ✅Yes | 995,38 |
| 🏅 Pepperstone | 👉 Click Here | ✅Yes | 1990,76 |
| 🎖️ Oanda | 👉 Click Here | ✅Yes | None |
| 🥇 Admirals | 👉 Click Here | ✅Yes | 386,25 |
| 🥈 XTB | 👉 Click Here | ✅Yes | None |
| 🥉 IG | 👉 Click Here | ✅Yes | 772,50 |
| 🏅 AvaTrade | 👉 Click Here | ✅Yes | 1545,00 |
| 🎖️ HF Markets | 👉 Click Here | ✅Yes | 77,25 |
10 Best Forex Brokers in the Maldives (2024)
- ☑️ Tickmill – Overall, the Best Forex Broker accepting Malivian Traders
- ☑️ IC Markets – Best Raw Spread Islamic Account
- ☑️ FP Markets – Transparent Islamic Accounts
- ☑️ Pepperstone – Best MT4/MT5 Forex Broker
- ☑️ Oanda – Best Forex Broker for Beginners
- ☑️ Admirals – Top Trading Platform for Professionals
- ☑️ XTB – Best Proprietary Platform for Islamic Traders
- ☑️ IG – Fast Approval of Islamic Accounts
- ☑️ AvaTrade – Best Islamic, Swap-Free Forex Broker
- ☑️ HF Markets – Micro and Standard Accounts
Tickmill
Tickmill is a well-established Forex and CFD Forex providing an Islamic, Swap-Free Account. Moreover, It provides Pro, Classic, VIP, and, Demo Accounts.
MetaTrader4, MetaTrader5, and, Mobile Trading are offered. The minimum deposit is 100 USD.
| 🔎 Broker | 🥇 Tickmill |
| 💴 Minimum Deposit | $100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips on the Pro and VIP Accounts |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | 62, major, minor, and exotic pairs |
| 📊 Scalping | ✅Yes |
| 💹 Hedging | ✅Yes |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill App |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
Tickmill suits all Brokers. Moreover, Beginners can benefit from Commission-free accounts, Demo Accounts, and, Educational Materials.
IC Markets
IC Markets is a trusted Forex Broker that operates under strict regulation. Accounts offered are cTrader, Raw Spread, Standard, and, Islamic.
Moreover, the Islamic Account is paired with MetaTrader 4 and MetaTrader 5. The minimum deposit is 200 USD.
| 🔎 Broker | 🥇 IC Markets |
| 💴 Minimum Deposit | 200 USD |
| 💵 Inactivity Fee | None |
| 📌 Regulation and Licenses | ASIC, CySEC, FSA, SCB |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Affordable forex and CFD trading costs | High minimum deposit requirement |
| Comprehensive education and research | No investor protection for non-EU customers |
Our Insights
IC Markets best suite Professional Traders. It offers an impressive range of trading platforms. However, the 200 USD Minimum Deposit is High.
FP Markets
FP Markets provides over 10,000 trading products, including Forex, indices, commodities, stocks, and cryptocurrencies. Moreover, Standard, Raw, Islamic Raw, and, Islamic Standard accounts are available.
The Minimum deposit is AU$200.
| 🔎 Broker | 🥇 FP Markets |
| 💴 Minimum Deposit | AU$100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | Major, Minor, Exotic |
| 📌 Regulations | ASIC, CySEC, FSCA, FSA, FSC |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is regulated in several regions | There are limited instruments offered |
| MetaTrader, cTrader, and IRESS are available | research tools are not extensive |
| Tight Spreads | Withdrawal fees apply |
| There are low forex fees | No sign-up or no-deposit bonus |
Our Insights
FP Markets is suited to all traders. However, the AU$200 initial deposit is high.
Pepperstone
Pepperstone is a well-established Forex Broker that facilitates trading across the globe. Moreover, it provides Three Account types; Standard, Razor, and, Islamic.
The minimum deposit is AU$200.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Pepperstone has a high deposit requirement better suited to established traders.
OANDA
OANDA is a well-established Forex Broker. Account available includes Standard, Core, Swap-Free, Premium, and, Premium Core. Moreover, no minimum deposit is required.
| 🔎 Broker | 🥇 OANDA |
| 💶 Minimum Deposit | None |
| 📌 Account Types | Standard, Elite Trader |
| 🆓 Demo Account | ✅Yes |
| 🎁 Bonus Offers | ✅Yes |
| ✏️ Education | ✅Yes |
| 📲 Mobile Trading | ✅Yes |
| 🖱️ Trading Platform | MetaTrader 4 |
| 🚀Open an Account | 👉 Click Here |
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
OANDA requires no minimum deposit requirement and it suits beginners. Moreover, it provides an easy-to-use interface and instructional resources.
Admirals
Admirals is a renowned online trading service supplier. Moreover, it is regulated by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investment Commission (ASIC).
An Islamic Account is available. The minimum deposit is 25 USD.
| 🔑Broker | 🥇Admirals |
| 💴Minimum Deposit | 25 USD |
| 🎉Established Year | 2001 |
| ⏰Support Hours | 24/5 |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
| 📈Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | No 24/7 customer service |
Our Insights
Admirals is a popular broker choice in the Maldives. Moreover, multilingual customer support is offered.
XTB
Renowned financial institutions regulate XTB. It provides narrow spreads on main currency pairs and other popular assets. Moreover, a Swap-Free option is available.
Furthermore, no minimum deposit is required.
| 🔍 Broker | 🥇 XTB |
| 💵 Minimum Deposit | 0 USD |
| 5️⃣ Ease of use Rating | 5/5 |
| 🎁 Bonuses | ✅ Yes |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | High conversion fee |
Our Insights
XTB suits all traders. It offers various tradable assets, including FX pairs and indices.
IG
IG is a well-established Forex Broker that offers a diverse range of financial products and regulatory compliance. Moreover, an Islamic Account is available.
The minimum deposit 50 USD.
| 🔎Broker | 🥇IG |
| 📈 Regulation and Licenses | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📉 Ease of Use | 4/5 |
| 📊 Support Hours | 24/7 |
| 💻 Trading Platforms | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💴 Base Currencies | USD |
| 📊 Spreads | From 0.1 pips DMA |
| 📌 Leverage | 1:222 (Pro), 1:30 (EU, UK, Retail) |
| 💸 Currency Pairs | 80+; major, minor, and exotic pairs |
| 💳 Minimum Deposit | From 50 USD (differs per region) |
| 🚫 Inactivity Fee | Yes, 12 USD after 2 years of inactivity |
| 📍 Website Languages | English |
| 💰 Fees and Commissions | Spreads from 0.1 pips, commissions from 0.10% |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| IG is a well-regulated and renowned spread betting broker | IG might be complex for beginners |
| There are over 17,000 instruments across asset classes | There is a high minimum deposit required |
| There is no capital gains tax or stamp duty charged, increasing profits | While negative balance protection is available, traders can still lose their entire investment |
Our Insights
With various Accounts and Trading Platforms, IG best suite Active Traders.
AvaTrade
AvaTrade is a well-known and trusted Forex Broker with a massive global presence. It is regulated in several countries, including Ireland, Australia, and South Africa.
Moreover, an Islamic Account is offered. The minimum deposit is 100 USD.
| 🔎 Broker | 🥇 AvaTrade |
| 💴 Minimum Deposit | 100 USD |
| 🖱️ Account Types | Retail, Islamic, Professional |
| 🪙 Base Currencies | ZAR, USD, GBP, AUD |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes, referral bonus |
| ⏰ Support Hours | 24/5 |
| 💵 Currency Pairs | 51; Major, Minor, Exotic Pairs |
| 🤝 Affiliate Program | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Over 1,260 instruments | Inactivity fees on dormant accounts |
| Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
| Islamic Account | Deposit and withdrawal options are limited |
| There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insights
AvaTrade is suited to all traders. Moreover, established traders will benefit from an extensive range of trading products
HF Markets
Many top-tier agencies, including CySEC and the FCA, regulate HFM. MetaTrader 4 and MetaTrader 5 are available. Moreover, an Islamic Account is provided.
The minimum deposit is 5 uSD.
| 🔎 Broker | 🥇 HFM |
| 💴 Minimum Deposit | $0 |
| 📌 Regulation and Licenses | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | ✅Yes |
| ⏰ Support Hours | 24/5 |
| ⚙️ Trading Platforms | MT4, MT5, HFM Trading App |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Top-tier Regulation | Regional constraints |
| Segregated Accounts for Client Funds | Inactivity fees |
Our Insights
HFM best suite Beginners. It offers reasonable spreads, various account types, and, a user-friendly interface.
Is Forex Trading Legal in the Maldives?
Forex Trading is legal and governed by the Maldives Monetary Authority.
In Conclusion
Forex Trading is legal in the Maldives. Moreover, it is locally governed by the Maldives Monetary Authority.
| 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 Madivian Traders, we found 10 excellent options. Each broker has its list of Benefits, ranging from Swap-Free Accounts to 24/7 Customer Support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Frequently Asked Questions
Does Tickmill offer an Islamic Account?
Tickmill also offers an Islamic Account that follows Sharia law and eliminates swap fees.
What Tickmill account is a Swap-Free Option?
Tickmill provides an Islamic swap-free option for all account types.
Does IC Markets offer a Swap-Free Account?
IC Markets offers an Islamic Account. Moreover, is available on the MetaTrader 4, MetaTrader 5, and cTrader platforms.
Does IC Markets allow Social Trading?
Social Trading is available via the IC Social Platform.
Does FP Markets support Islamic Accounts?
FP Markets provides an Islamic Standard and Islamic Raw Account.
What is an FP Markets Islamic Raw Account?
The Islamic Raw Account combines the benefits of the Raw Account with a Swap-Free Option.
Does Pepperstone have a Swap-Free account?
Pepperstone provides a Standard Islamic, Swap-Free account.
What is the minimum deposit set by Pepperstone?
The minimum deposit required to open a Standard or Razor Account is AU$ 200.
Does Oanda offer a Demo Account?
Oanda provides a Cost and Risk-Free demo account.
Can I trade Crypto with Admirals?
Admirals provide CFD trading on cryptocurrencies.
What kind of network security measures does XTB implement?
Firewalls and intrusion detection systems.
How many forex pairs does IG Offer?
Over 80 forex pairings.
Which base currencies are accepted by AvaTrade?
ZAR, USD, GBP, and AUD.
What kind of broker is HFM?
A multi-asset broker that provides forex and CFD trading services.
Top 4 Brokers
