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10 Best Forex Brokers in Sri Lanka

Last Update: May 28th, 2024

Forex Brokers Sri Lanka

The 10 Best Forex Brokers in Sri Lanka – Rated and Reviewed. We have listed the top Forex Brokers accepting Sri Lankan Traders.

 

In this in-depth guide you will learn:

  • The Best Forex Brokers in Sri Lanka – a List
  • The Best MetaTrader 5 Forex Brokers for Beginners
  • Is Forex Trading legal in Sri Lanka?
  • The Best Trading Platform for Sri Lankan Traders
  • Low LKR Minimum Deposit Brokers

 

and much, MUCH more!

 

10 Best Forex Brokers in Sri Lanka

 

10 Best Forex Brokers in Sri Lanka – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Sri Lankan Traders💴 Min. Deposit (LKR)
🥇 AvaTrade👉 Click Here✅Yes29836,99
🥈 Exness👉 Click Here✅Yes2983,70
🥉 Blackbull Markets👉 Click Here✅YesNone
🏅 Eightcap👉 Click Here✅Yes29836,99
🎖️ XM👉 Click Here✅Yes1491,85
🥇 BDSwiss👉 Click Here✅Yes2983,70
🥈 FBS👉 Click Here✅Yes1491,85
🥉 Pepperstone👉 Click Here✅Yes38768,10
🏅 HF Markets👉 Click Here✅Yes1491,85
🎖️ FP Markets👉 Click Here✅Yes19384,05

 

10 Best Forex Brokers in Sri Lanka (2024)

  1. ☑️ AvaTrade – Overall, the Best Forex Broker in Sri Lanka
  2. ☑️ Exness – Low LKR Minimum Deposit Broker
  3. ☑️ Blackbull Markets – Excellent trading platforms and tools
  4. ☑️ Eightcap – Best Broker for Cryptocurrency Trading
  5. ☑️ XM – Low-Cost Trading Accounts
  6. ☑️ BDSwiss – Best Forex Broker for Advanced Traders
  7. ☑️ FBSHigh Leverage Trading + Low Minimum Deposit
  8. ☑️ Pepperstone – Best MetaTrader 4 Forex Broker
  9. ☑️ HF Markets – High User Trust Score
  10. ☑️ FP Markets – Best MetaTrader 5 Forex Broker

 

AvaTrade Review New

 

AvaTrade

AvaTrade is a well-established Broker that caters to both Muslim and non-muslim traders in Sri Lanka. Accounts offered are Retail, Islamic, and, Professional.

The Retail and Professional Accounts offer all markets, whereas the Islamic Account offers Gold Silver, Oil, Indices, and Forex.

The minimum deposit for Retail and Islamic Accounts 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 an excellent Broker choice for Beginners. Traders will benefit from 7 trading platforms, mobile trading apps, and copy trading. Moreover, the AvaProtect risk management tool protects transactions against loss.

 

Exness Review

 

Exness

Exness is a highly regulated Forex Broker that offers access to Cent, Standard, Zero, and, Pro. Unlimited Leverage is offered across all accounts. Moreover, an Islamic Option is accessible on all Exness Account types.

The minimum deposit for Standard and Standard Cent accounts is 10 USD, whereas Raw Spread, Zero, and Pro, require a 500 USD deposit.

🔎 Broker🥇 Exness
💴 Minimum Deposit10 USD
📈 SpreadsFrom 0.0 pips EUR
📉 LeverageUnlimited
🪙 Currency Pairs100+
🤝 Affiliate Program✅Yes
🚀 Open an Account
👉 Click Here

 

Exness

 

Pros and Cons

✅ Pros❌ Cons
Flexible trading accountsDemo account is only valid for 21 days
Well-regulated + Comprehensive fund protectionLimited product portfolio
Powerful trading platformsCountry Restrictions

 

Our Insights

Exness suits all traders. Broker Benefits include multiple account options, powerful trading platforms, and, trusted customer support.

 

Blackbull Markets

 

Blackbull Markets

Blackbull Markets is a well-established Forex Broker that provides fast execution times and dependable connections. Accounts include ECN Standard, ECN Prime, and, ECN Institutional. Moreover, an Islamic Option is available on all accounts.

No minimum deposit is required for the ECN Standard Account.

🔎 Broker🥇Blackbull Markets
📉 Regulation and LicensesFSA, FMA
📊 Ease of Use Rating3/5
🎁 BonusesNone
⏰ Support Hours24/7
📌 Account TypesECN Standard, ECN Prime, ECN Institutional
💴 Base CurrenciesUSD, EUR, GBP, AUD, NZD, SGD, CAD, JPY. ZAR
📈 SpreadsFrom 0.1 pips EUR/USD
📉 LeverageUp to 1:500
💵 Currency Pairs60+; major, minor, and exotic pairs
💶 Minimum Deposit0 USD
💷 Inactivity FeeNone
🚀 Open an Account👉 Click Here

 

Blackbull Markets

 

Pros and Cons

✔️ Pros❌ Cons
Fast execution times and Dependable ConnectionsThe website can be difficult to navigate at first
Excellent Customer SupportWithdrawal Fees Apply
Provides Webinars, tutorials, and other resourcesPrime Account has a ectremely high initial deposi

 

Our Insights

Blackbull Markets best suits Professional and Institutional traders. The ECN Prime account requires a 2000 USD initial deposit. Moreover, the ECN Institutional Account requires an extremely high initial deposit of 20’000 USD.

 

Eightcap Review

 

Eightcap

Eightcap is a globally recognized Forex and CFD Broker that provides cutting-edge platforms, and multiple trading accounts. However, Eightcap does not provide an Islamic Account.

Moreover, Tradingview integration is offered for advanced charting.

🔎 Broker🥇 Eightcap
📉 Regulation and LicensesCySEC, SCB, ASIC, FCA
5️⃣ Ease of Use4/5
⏰ Support Hours24/5
📍 Trading PlatformsMetaTrader 4, MetaTrader 5, TradingView
📌 Account TypesStandard, Raw, TradingView
💴 Base CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD
📊 SpreadsFrom 0.0 pips
📈 Leverage1:500
💸 Currency Pairs45; major, minor, and exotic pairs
💳 Minimum Deposit100 USD
🚫 Inactivity FeeNone
🚀Open an AccountOpen Account

 

EightCap Overview

 

Pros and Cons

✅ Pros❌ Cons
Low forex feesSlim product selection
Quick account openingLimited research and education

 

Our Insights

Eightcap suits a wide range of Traders. Broker benefits include extensive educational resources and no withdrawal or inactivity fees.

 

XM Review

 

XM

XM is a highly regulated Forex Broker governed by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission Belize (IFSC).

Accounts include Micro, Standard, Ultra-Low, and Shares Accounts. Moreover, an Islamic, Swap-Free option is available on the Micro, Standard, and, Ultra Low Accounts.

🔎 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

Benefits of Trading with XM include Mobile Trading, access to webinars and tutorials, plus 24/7 Multilingual customer support.

 

BDSwiss

 

BDSwiss

BDSwiss is a well-established Broker that provides a diverse range of financial products. Moreover, several regulatory entities govern BDSwiss. Furthermore, an Islamic Account is offered to Muslim Traders only. Confirmation of religious affiliation is required.

🔎 Broker🥇 BDSwiss
📈 RegulationCySEC, FSC, FSA, BaFin, Mwali International Services Authority
📉 Trading PlatformsMetaTrader 4, MetaTrader 5, BDSwiss Web, BDSwiss Mobile
💴 Minimum Deposit10 USD
⏰ Support Hours24/5
⚙️ Account TypesCent, Classic, VIP, Zero Spread, Islamic, Demo
🆓 Demo Account✅Yes
☪️ Islamic Account✅Yes
📊 Leverage1:2000
🚀 Open an Account
👉 Click Here

 

BDSwiss

 

Pros and Cons

✅ Pros❌ Cons
BDSwiss offers an impressive number of markets that can be tradedThere is an inactivity fee applied to dormant accounts
There are account levels for all types of tradersThe spreads on popular accounts are wide, starting from 1.5 pips
BDSwiss is a highly reputable, award-winning broker regulated globallyCommission fees apply to all account types

 

Our Insights

BDswiss suits a wide range of Traders. Benefits include tight spreads and Multiple account types. However, Customer Support is not available around the clock.

 

FBS Review

 

FBS

FBS is a trustworthy and highly regulated Forex Broker that offers competitive spreads, Negative Balance Protection, and, an extensive selection of tradable instruments. Moreover, the Retail Account offers an Islamic Option.

The minimum deposit is 5 USD.

🔎 Broker🥇 FBS
💴 Minimum Deposit5 USD
💵 Inactivity FeeNone
🤝 Affiliate Program✅Yes
4️⃣ Ease of Use Rating4/5
📐 Trading InstrumentsForex, Precious Metals, Indices, Energies, Stocks, Crypto CFDs
🚀 Open an Account
👉 Click Here

 

FBS

 

Pros and Cons

✅Pros❌Cons
Minimum deposit - $5High leverage may be daunting
Leverage of up to 1:3000High leverage carries an increased risk of loss
Commission-free tradingLack of fixed spread options

 

Our Insights

FBS is best suited to Beginners. The Account Options and Trading Platform Selection is limited. However, it provides 24/7 multilingual customer support.

 

Pepperstone Review

 

Pepperstone

Pepperstone is a trustworthy and highly regulated Forex Broker that provides access to multiple account types, including Islamic. Account types include Standard and Razor, the minimum deposit is 5 USD.

Moreover, Trading Platforms available are TradingView, MetaTrader 4, MetaTrader 5, cTrader, and,  Capitalise.ai.

🔎 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

The Benefits of Trading with Pepperstone include 24/7 Customer Support, an active trader program, and, negative balance protection. However, the minimum deposit is high.

 

HFM Review

 

HF Markets

HFM is a Popular Forex and CFDs Broker that provides access to multiple account types, and trusted trading platforms. Accounts include Cent, Premium, Zero, and, Pro. Moreover, an Islamic Option is available.

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 Low Swap Fees

 

Pros and Cons

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

 

Our Insights

HFM suits all levels of traders. Moreover, the Broker does not impose hidden, deposit, or, withdrawal fees.

 

FP Markets

 

FP Markets

FP Markets is a trustworthy, highly regulated Forex Broker with a competitive price structure. It provides access to 10,000+ trading products, including Forex, Shares, and, Metals. Accounts include Standard, Raw, Islamic Standard, and Islamic Raw.

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 suits all Brokers. Benefits for Sri Lankan Traders include the availability of two Islamic, Swap-Free Accounts.

 

Forex Trading in Sri Lanka

 

Is Forex Trading legal in Sri Lanka?

There are no laws restricting Forex Trading in Sri Lanka. Moreover, no laws legalize, govern, or regulate Forex in Sri Lanka. Forex Trading in Sri Lanka must be done via a well-regulated International Forex Broker.

 

Is Forex Trading legal in Sri Lanka?

 

Can Muslims Trade Forex in Sri Lanka?

Muslims form a large segment of the urban population of Sri Lanka. Muslims in Sri Lanka who wish to trade Forex can do so via an Islamic, Swap-Free account. As the name suggests, Islamic Accounts are free from swap fees.

 

Can Muslims Trade Forex in Sri Lanka?

 

In Conclusion

The popularity of Forex Trading in Sri Lanka has notably increased in popularity. However, no laws legalize, govern, or regulate Forex in Sri Lanka.

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

While reviewing the Best Forex Brokers that accept Sri Lankan Traders, we found 10 excellent options. Each broker has its list of Benefits, ranging from Swap-Free 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 is halal or Permissable.

An Islamic or Swap-free trading account is a forex trading account that allows Forex Trading following the Islamic Sharia Law

MetaTrader 4, IRESS, and MetaTrader 5.

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

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

FBS provides 24/7 multilingual customer support.

BDSwiss provides over 250 financial assets, including forex pairings, commodities, indices, and,  stocks.

BlackBull Markets has no minimum deposit for their Standard Account.

Exness does not provide any current bonuses but periodically provides promotional incentives.

55 currency pairs, including minor, major, and exotic pairs.

Bank wires, credit cards, and e-wallets.

AvaTrade is recognized in multiple countries, including Sri Lanka, Ireland, and, Australia.

There are no laws that legalize, govern, or regulate Forex in Sri Lanka.

There are no laws restricting Forex Trading in Sri Lanka.