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10 Best Forex Brokers in Mongolia

Last Update: May 28th, 2024

Forex Brokers Mongolia

 

The 10 Best Forex Brokers in Mongolia – Rated and Reviewed. We have listed the top Forex Brokers accepting Mongolian Traders.

In this in-depth guide you will learn:

  • The Best Forex Brokers in Mongolia– a List
  • Is Forex Trading Legal/Legit in Mongolia?
  • The Best Forbes Listed Mongolian Forex Brokers
  • How to Buy and Trade Stocks in Mongolia
  • Best MT4/MT5 Forex Brokers for Beginners

and much, MUCH more!

 

10 Best Forex Brokers in Mongolia

 

10 Best Forex Brokers in Mongolia – a Comparison

🔎 Brokers🚀Open an Account🤝 Accepts Mongolian Traders💶 Min. Deposit
🥇 IC Markets👉 Click Here✅Yes200 USD
🥈 Tickmill👉 Click Here✅Yes100 USD
🥉 Moneta Markets👉 Click Here✅Yes50 USD
🏅 Pepperstone👉 Click Here✅YesAU$ 200
🎖️ FP Markets👉 Click Here✅YesAU$ 100
🥇 Interactive Brokers👉 Click Here✅YesNone
🥈 XTB👉 Click Here✅YesNone
🥉 Admirals👉 Click Here✅Yes25 USD
🏅 IG👉 Click Here✅Yes50 USD
🎖️ XM👉 Click Here✅Yes5 USD

 

10 Best Forex Brokers in Mongolia (2024)

  1. ☑️ IC Markets – Overall, the Best Forex Broker in Mongolia
  2. ☑️ Tickmill – Low Commission Forex Broker
  3. ☑️ Moneta Markets – Excellent all-round offering
  4. ☑️ Pepperstone – Best Overall Trading Experience
  5. ☑️ FP Markets – FSCA & ODP Licensed Forex Broker
  6. ☑️ Interactive Brokers- Best Forex Broker for established Traders
  7. ☑️ XTB – Best MetaTrader Forex Broker
  8. ☑️ Admirals – Popular Broker for Beginners
  9. ☑️ IG – Best Forex Broker for Foreigners
  10. ☑️ XM – Low Minimum MNT Deposit

 

IC Markets Review

 

IC Markets

IC Markets is a well-established, popular Broker Choice. It provides a combination of low pricing, several platforms, and a wide range of trading products.

Moreover, a strong technology infrastructure is available. 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 suits all Traders. Beginners will benefit from multiple account options. However, the minimum deposit is high.

 

Tickmill Review

 

Tickmill

Tickmill is a prominent forex and CFD broker. It adheres to strict regulatory standards in multiple jurisdictions. Moreover, Commission-free accounts are available.

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 Overview

 

Pros and Cons

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

 

Our Insights

Tickmill caters to a wide spectrum of traders. Beginners will benefit from a wealth of instructional tools.

 

Moneta Markets Review

 

Moneta Markets

Moneta Markets is a trustworthy Forex Broker. The FSCA, FSA Seychelles, CIMA, and ASIC regulate it. The minimum deposit is 50 USD.

🔎 Broker🥇 Moneta Markets
📈 Established Year2019
📉 Regulation and LicensesFSCA, FSA Seychelles, CIMA, ASIC
📊 Ease of Use Rating4/5
🎁 Bonuses✅Yes
⏰ Support Hours24/5
🖱️ Trading PlatformsPRO Trader, App Trader, MetaTrader 4, MetaTrader 5, CopyTrader App
📌 Account TypesDirect STP, Prime ECN, Ultra ECN
💴 Base CurrenciesAUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD, BRL
📍 SpreadsFrom 0.0 pips
💹 Leverage1:1000
💵 Currency Pairs44; major, minor, and exotic pairs
💶 Minimum Deposit50 USD
💷 Inactivity FeeNone
🚀 Open an Account👉 Click Here

 

Moneta Markets Review

 

Pros and Cons

✅ Pros❌ Cons
1,000+ tradable assets, including forexSome account types may have volume constraints
Multilingual supportLimited Education

 

Our Insights

Moneta Markets suits established traders. Moreover, Professional traders will benefit from multiple accounts and trading platforms.

 

Pepperstone Review

 

Pepperstone

Pepperstone is an Australian Forex Broker regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. Accounts include Standard and Razor.

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 suits a wide range of Traders. Moreover, it provides responsive and friendly customer service.

 

FP Markets

 

FP Markets

FP Markets is an established Forex Broker with a strong regulatory structure. Trading Platforms provided include MetaTrader 4, IRESS, and MetaTrader 5.

The minimum deposit is AU$100.

🔎 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 suite a wide range of Traders. Traders will benefit from over 10,000 trading products, including Forex, indices, commodities, stocks, and cryptocurrencies.

 

Interactive Brokers Review

 

Interactive Brokers

Interactive Brokers is a popular trading platform for experienced traders and investors. Nine Tier-1 authorities regulate it. Moreover, 7 Proprietary Trading platforms are provided.

🔎 Broker🥇 Interactive Brokers
💴 Min. DepositNone
💶 Inactivity FeeNone
📈 Tradable AssetsForex, Metals, Futures, ETFs
🪙 Crypto Trading✅Yes
📉 MT4 / MT5None
📊 Proprietary Platforms✅Yes
📲 Mobile App✅Yes
🤝 Customer Support24/7
✏️ Education✅Yes
📍 Account TypesIBKR Pro and Lite
🚀Open an Account👉 Click Here

 

Interactive Brokers

 

Pros and Cons

✅ Pros❌ Cons
Low commissions and feesIntimidating Platform
Excellent educational materialsComplex tiered pricing plans
Reliable trade executionLacking Customer Support

 

Our Insights

The IBKR Lite Account is a simple, cost-effective trading account suited to beginners. Moreover, the IBKR Pro account is designed for professional traders with high-volume transactions.

 

XTB Review

 

XTB

Renowned financial institutions license XTB. Furthermore, XTB protects customer funds via segregated accounts.

A Minimum deposit is not required.

🔍 Broker🥇 XTB
💵 Minimum Deposit0 USD
5️⃣ Ease of use Rating5/5
🎁 Bonuses✅ Yes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

XTB Trading Platforms

 

Pros and Cons

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

 

Our Insights

XTB offers a variety of tradable assets, including FX pairs, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. Moreover, professional traders will benefit from in-depth market research, news updates, and a variety of technical indicators.

 

Admirals Review

 

Admirals

Admirals is a well-established Forex and CFDs Broker. It provides a comprehensive array of trading platforms and strong security measures. 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 best suits beginners. It offers some of the lowest industry costs. Moreover, Beginners will benefit from demo accounts and instructional offerings.

 

IG Review

 

IG

IG is a reputable forex and CFD trading platform. It provides a strong regulatory framework, broad market access, and extensive training resources.

The minimum deposit is 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
Access to over 17,000 instruments across marketsLimitations on customer support hours
Investing opportunities for high-volume tradersInactivity fees apply
Several advanced Trading platformsIG is not available in all regions

 

Our Insights

IG is a safe broker. Beginners and Professionals will benefit from access to over 17,000 markets, including forex, indices, share CFDs, commodities, cryptocurrencies, futures, options, bonds, ETFs, and digital 100s.

 

XM Review

 

XM

XM is a highly regulated Forex Broker that specializes in Forex and CFDs Trading. It provides both MetaTrader platforms.

The minimum deposit is 5 USD.

🔎 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

 

Pros and Cons

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

 

Our Insights

XM is suited to all traders. Moreover, Beginners will benefit from the XM Ultra-Low Account.

 

Forex Trading in Mongolia

 

Is Forex Trading Legal in Mongolia?

Forex Trading is Legal, but not regulated in Mongolia.

 

Is Forex Trading Legal in Mongolia?

 

In Conclusion

Forex Trading is Legal in Mongolia. However, there are no foreign exchange controls in the country. Therefore, Forex must be Traded via an International broker that accepts local traders.

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 Mongolian Traders, we found 10 excellent options. Each broker has its list of Benefits, ranging from Low Forex Fees to Multilingual Customer Support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.

 

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FAQs

Accounts include Micro, Standard, Ultra-Low, and Share accounts.

Multilingual customer support is provided.

IG provides a free demo account with virtual funds.

IG’s headquarters are in the United Kingdom.

Admirals do not currently allow fractional share purchases.

Withdrawals with Admirals can be instant or take up to 5 days.

Various products, including FX, indices, commodities, and,  stock CFDs.

XTB protects customer funds via segregated accounts.

A demo account is available as a Paper Trading option.

No minimum deposit is set.

MT4, IRESS, and MT5

FP Markets provides instructional tools, demo accounts, and user-friendly platforms.

Pepperstone is well-known for its affordable price, numerous platform options, and excellent customer service.

Pepperstone offers MetaTrader 4 and 5, cTrader, Capatalise.ai, and TradingView.

The minimum deposit for the Direct STP account is $50, while the Prime ECN account needs $200, and the Ultra ECN account requires $20,000.

Moneta Markets does provide negative balance protection.

Tickmill offers the industry-standard MetaTrader 4 and 5 platforms.

Tickmill offers commission-free accounts.

IC Markets provides beginner-friendly tools like instructional materials, demo accounts, and standard accounts.

The minimum deposit for IC Markets is 200 USD.