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10 Best Forex Brokers in the Maldives

Last Update: May 6th, 2024

Forex Brokers Maldives

 

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

 

10 Best Forex Brokers in the Maldives – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Maldivian Traders💶 Min. Deposit (MVR)
🥇 Tickmill👉 Click Here✅Yes1545,00
🥈 IC Markets👉 Click Here✅Yes3090,00
🥉 FP Markets👉 Click Here✅Yes995,38
🏅 Pepperstone👉 Click Here✅Yes1990,76
🎖️ Oanda👉 Click Here✅YesNone
🥇 Admirals👉 Click Here✅Yes386,25
🥈 XTB👉 Click Here✅YesNone
🥉 IG👉 Click Here✅Yes772,50
🏅 AvaTrade👉 Click Here✅Yes1545,00
🎖️ HF Markets👉 Click Here✅Yes77,25

 

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 Review

 

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 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 Islamic Account

 

Pros and Cons

 

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

 

Our Insights

Tickmill suits all Brokers. Moreover, Beginners can benefit from Commission-free accounts, Demo Accounts, and, Educational Materials.

 

IC Markets Review

 

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 Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets

 

Pros and Cons

 

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo 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

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 DepositAU$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips
📉 Leverage1:500
💶 Currency PairsMajor, Minor, Exotic
📌 RegulationsASIC, CySEC, FSCA, FSA, FSC
5️⃣ Ease of Use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

FP Markets

 

Pros and Cons

 

✅ Pros❌ Cons
FP Markets is regulated in several regionsThere are limited instruments offered
MetaTrader, cTrader, and IRESS are availableresearch tools are not extensive
Tight SpreadsWithdrawal fees apply
There are low forex feesNo sign-up or no-deposit bonus

 

Our Insights

FP Markets is suited to all traders. However, the AU$200 initial deposit is high.

 

Pepperstone Review

 

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.

 

🔎 Broker🥇 Pepperstone
💴 Minimum DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

 

✅ Pros❌ Cons
Fully digital account openingMostly CFDs offered
Great customer serviceBasic Trading Platforms

 

Our Insights

Pepperstone has a high deposit requirement better suited to established traders.

 

OANDA

 

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 DepositNone
📌 Account TypesStandard, Elite Trader
🆓 Demo Account✅Yes
🎁 Bonus Offers✅Yes
✏️ Education✅Yes
📲 Mobile Trading✅Yes
🖱️ Trading PlatformMetaTrader 4
🚀Open an Account👉 Click Here

 

OANDA

 

Pros and Cons

 

✅ Pros❌ Cons
Great trading platformsOnly FX and CFD available for most clients
Outstanding research toolsLacking Customer Support
Low trading feesInactivity 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 Review

 

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 Deposit25 USD
🎉Established Year2001
⏰Support Hours24/5
💻Trading PlatformsMetaTrader 4, MetaTrader 5, Admirals App
📈Account TypesTrade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5
🚀 Open an Account
👉 Click Here

 

Admirals

 

Pros and Cons

 

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalNo 24/7 customer service

 

Our Insights

Admirals is a popular broker choice in the Maldives. Moreover, multilingual customer support is offered.

 

XTB Review

 

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 Deposit0 USD
5️⃣ Ease of use Rating5/5
🎁 Bonuses✅ Yes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

XTB Overview

 

Pros and Cons

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh conversion fee

 

Our Insights

XTB suits all traders. It offers various tradable assets, including FX pairs and indices.

 

IG Review

 

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 LicensesFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
📉 Ease of Use4/5
📊 Support Hours24/7
💻 Trading PlatformsMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💴 Base CurrenciesUSD
📊 SpreadsFrom 0.1 pips DMA
📌 Leverage1:222 (Pro), 1:30 (EU, UK, Retail)
💸 Currency Pairs80+; major, minor, and exotic pairs
💳 Minimum DepositFrom 50 USD (differs per region)
🚫 Inactivity FeeYes, 12 USD after 2 years of inactivity
📍 Website LanguagesEnglish
💰 Fees and CommissionsSpreads from 0.1 pips, commissions from 0.10%
🚀Open an Account👉 Click Here

 

IG Markets

 

Pros and Cons

 

✅ Pros❌ Cons
IG is a well-regulated and renowned spread betting brokerIG might be complex for beginners
There are over 17,000 instruments across asset classesThere is a high minimum deposit required
There is no capital gains tax or stamp duty charged, increasing profitsWhile 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 Review New

 

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 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 Insights

AvaTrade is suited to all traders. Moreover, established traders will benefit from an extensive range of trading products

 

HFM Review

 

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 LicensesFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
5️⃣ Ease of Use Rating5/5
🎁 Bonuses✅Yes
⏰ Support Hours24/5
⚙️ Trading PlatformsMT4, MT5, HFM Trading App
🚀 Open an Account
👉 Click Here

 

HFM

 

Pros and Cons

 

✅ Pros❌ Cons
Top-tier RegulationRegional constraints
Segregated Accounts for Client FundsInactivity fees

 

Our Insights

HFM best suite Beginners. It offers reasonable spreads, various account types, and, a user-friendly interface.

 

Forex Trading in the Maldives

 

Is Forex Trading Legal in the Maldives?

Forex Trading is legal and governed by the Maldives Monetary Authority.

 

Is Forex Trading Legal in the Maldives?

 

In Conclusion

Forex Trading is legal in the Maldives. Moreover, it is locally governed by the Maldives Monetary 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 ReviewCySEC, MISA, FSCAUSD 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 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

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.