10 Best Forex Brokers in Mongolia
Last Update: April 30th, 2024
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 – a Comparison
| 🔎 Brokers | 🚀Open an Account | 🤝 Accepts Mongolian Traders | 💶 Min. Deposit |
| 🥇 IC Markets | 👉 Click Here | ✅Yes | 200 USD |
| 🥈 Tickmill | 👉 Click Here | ✅Yes | 100 USD |
| 🥉 Moneta Markets | 👉 Click Here | ✅Yes | 50 USD |
| 🏅 Pepperstone | 👉 Click Here | ✅Yes | AU$ 200 |
| 🎖️ FP Markets | 👉 Click Here | ✅Yes | AU$ 100 |
| 🥇 Interactive Brokers | 👉 Click Here | ✅Yes | None |
| 🥈 XTB | 👉 Click Here | ✅Yes | None |
| 🥉 Admirals | 👉 Click Here | ✅Yes | 25 USD |
| 🏅 IG | 👉 Click Here | ✅Yes | 50 USD |
| 🎖️ XM | 👉 Click Here | ✅Yes | 5 USD |
10 Best Forex Brokers in Mongolia (2024)
- ☑️ IC Markets – Overall, the Best Forex Broker in Mongolia
- ☑️ Tickmill – Low Commission Forex Broker
- ☑️ Moneta Markets – Excellent all-round offering
- ☑️ Pepperstone – Best Overall Trading Experience
- ☑️ FP Markets – FSCA & ODP Licensed Forex Broker
- ☑️ Interactive Brokers- Best Forex Broker for established Traders
- ☑️ XTB – Best MetaTrader Forex Broker
- ☑️ Admirals – Popular Broker for Beginners
- ☑️ IG – Best Forex Broker for Foreigners
- ☑️ XM – Low Minimum MNT Deposit
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 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 suits all Traders. Beginners will benefit from multiple account options. However, the minimum deposit is high.
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 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 caters to a wide spectrum of traders. Beginners will benefit from a wealth of instructional tools.
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 Year | 2019 |
| 📉 Regulation and Licenses | FSCA, FSA Seychelles, CIMA, ASIC |
| 📊 Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅Yes |
| ⏰ Support Hours | 24/5 |
| 🖱️ Trading Platforms | PRO Trader, App Trader, MetaTrader 4, MetaTrader 5, CopyTrader App |
| 📌 Account Types | Direct STP, Prime ECN, Ultra ECN |
| 💴 Base Currencies | AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD, BRL |
| 📍 Spreads | From 0.0 pips |
| 💹 Leverage | 1:1000 |
| 💵 Currency Pairs | 44; major, minor, and exotic pairs |
| 💶 Minimum Deposit | 50 USD |
| 💷 Inactivity Fee | None |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| 1,000+ tradable assets, including forex | Some account types may have volume constraints |
| Multilingual support | Limited Education |
Our Insights
Moneta Markets suits established traders. Moreover, Professional traders will benefit from multiple accounts and trading platforms.
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 Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Pepperstone suits a wide range of Traders. Moreover, it provides responsive and friendly customer service.
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.
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 suite a wide range of Traders. Traders will benefit from over 10,000 trading products, including Forex, indices, commodities, stocks, and cryptocurrencies.
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. Deposit | None |
| 💶 Inactivity Fee | None |
| 📈 Tradable Assets | Forex, Metals, Futures, ETFs |
| 🪙 Crypto Trading | ✅Yes |
| 📉 MT4 / MT5 | None |
| 📊 Proprietary Platforms | ✅Yes |
| 📲 Mobile App | ✅Yes |
| 🤝 Customer Support | 24/7 |
| ✏️ Education | ✅Yes |
| 📍 Account Types | IBKR Pro and Lite |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low commissions and fees | Intimidating Platform |
| Excellent educational materials | Complex tiered pricing plans |
| Reliable trade execution | Lacking 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
Renowned financial institutions license XTB. Furthermore, XTB protects customer funds via segregated accounts.
A Minimum deposit is not 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 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
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 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 best suit beginners. It offers some of the lowest industry costs. Moreover, Beginners will benefit from demo accounts and instructional offerings.
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 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 |
| Access to over 17,000 instruments across markets | Limitations on customer support hours |
| Investing opportunities for high-volume traders | Inactivity fees apply |
| Several advanced Trading platforms | IG 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
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 Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
XM is suited to all traders. Moreover, Beginners will benefit from the XM Ultra-Low Account.
Is Forex Trading Legal in Mongolia?
Forex Trading is Legal, but not regulated 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.
| 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 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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Frequently Asked Questions
What is the minimum deposit for IC Markets?
The minimum deposit for IC Markets is 200 USD.
Is IC Markets good for beginners?
IC Markets provides beginner-friendly tools like instructional materials, demo accounts, and standard accounts.
Does Tickmill offer commission-free accounts?
Tickmill offers commission-free accounts.
What platforms does Tickmill offer?
Tickmill offers the industry-standard MetaTrader 4 and 5 platforms.
Does Moneta Markets provide negative balance protection?
Moneta Markets does provide negative balance protection.
What is Moneta Markets’ minimum deposit?
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.
What platforms does Pepperstone offer?
Pepperstone offers MetaTrader 4 and 5, cTrader, Capatalise.ai, and TradingView.
Is Pepperstone a good broker?
Pepperstone is well-known for its affordable price, numerous platform options, and excellent customer service.
Is FP Markets good for beginners?
FP Markets provides instructional tools, demo accounts, and user-friendly platforms.
What platforms do FP Markets offer?
MT4, IRESS, and MT5
What is IBKR’s minimum deposit?
No minimum deposit is set.
Does IBKR offer a demo account?
A demo account is available as a Paper Trading option.
Are my funds protected with XTB?
XTB protects customer funds via segregated accounts.
What can I trade with XTB?
Various products, including FX, indices, commodities, and, stock CFDs.
How long does an Admirals’ withdrawal take?
Withdrawals with Admirals can be instant or take up to 5 days.
Does Admirals offer fractional shares?
Admirals do not currently allow fractional share purchases.
Where is IG based?
IG’s headquarters are in the United Kingdom.
Does IG provide a Demo Account?
IG provides a free demo account with virtual funds.
Does XM offer customer support?
Multilingual customer support is provided.
Does XM offer different account types?
Accounts include Micro, Standard, Ultra-Low, and Share accounts.
Top 4 Brokers
