The best Forex broker in Bangladesh is - RoboForex
Top Forex broker in Bangladesh:
RoboForex - Best Forex broker for beginners ($10 min. deposit, copy trading)
Pocket Option - Best for Social Trading (top rated service by customers)
Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)
FBS - A reliable broker with affordable offers (ASIC regulation, min. deposit 5$)
TeleTrade - Best for learning trading basics (a lot of educational and analytical materials)
Vantage Markets - Best for trading CFDs on major U.S. Stocks (zero fees apply)
Forex trading is becoming increasingly popular in Bangladesh.
The world of forex trading is experiencing a surge in popularity in Bangladesh. As more and more Bangladeshi citizens explore the exciting potential of currency markets, choosing the right forex broker becomes crucial. However, navigating the landscape can be challenging, especially considering the current lack of locally regulated brokers and Bangladesh Bank rules.
This guide from Traders Union is here to help. We've meticulously analyzed a wide range of brokers that accept clients from Banglades, considering over 100 factors including international regulations, trading conditions, and the quality of customer support. Our goal? To provide Bangladeshi traders with a comprehensive overview of the top forex brokers that cater to their specific needs and ensure a safe and secure trading experience.
Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Broker | Accepts citizens of Bangladesh | Minimum deposit | Leverage | Trading instruments | |
|---|---|---|---|---|---|
$10 |
1:2000 |
Forex (currency pairs), ETFs, index CFDs, oil CFDs, CFD on European and U.S. stocks, real securities |
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$5 |
1:1000 for MT4/MT5; |
Binary options and CFDs on currency pairs, cryptos, indices, stocks, and commodities |
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$10 |
1:unlimited for retail clients |
Forex CFDs on: cryptos, commodities, indices, and stocks |
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€10 |
1:3000 |
Forex, indices, metals, futures contracts |
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USD 10 |
1:500 |
Forex, metals, indices, energies, stocks, cryptocurrencies |
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$50 |
Up to 1:20 (for CFDs on stocks), up to 1:500 (for currency pairs) |
Currency pairs (57), CFDs on stocks (226), indices (26), and commodities (22), energy, ETFs, bonds, share SFDs |
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100 (USD, EUR, GBP, CHF) |
Up to 1:500 subject to the jurisdiction. For example, maximum leverage for certain jurisdictions is up to 1:30 for currency pairs. |
Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies. |
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100 USD |
Up to 1:500 |
CFDs on currency pairs, cryptocurrencies, indices, stocks, commodities, and precious metals |
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From 0 US dollars |
Up to 1:2000 |
Forex currency, CFD for precious metals, shares, energy products |
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$200 |
1:500 (FSA); |
Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures |
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
| Regulation: | FSC |
| Trading platform: | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
| Replenishment / Withdrawal: | SEPA, Bank transfer, Skrill, Neteller, AdvCash, Perfect Money, Visa/Mastercard, AstraPay, NganLuong Wallet, JCB. |
| Trading features: | Negative Balance Protection; No swaps on Islamic accounts, a pleasant affiliate program: each market participant gets up to 20% loyalty; One Click Trading. |
| Accounts: | USD, EUR, GOLD |
Pocket Option caters to both Forex and binary options traders, offering a wide range of trading instruments, a copy trading service, and passive income opportunities.
Clients can trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities with spreads starting from 1.2 pips and no additional commissions per lot. Pocket Option's unique "My Safe" service offers up to 10% annual interest on unused account balances.
While the platform excels in serving active traders, its demo accounts and referral program also offer value to beginners. However, the lack of cent accounts and ECN options could be a drawback for certain professional traders.
| Regulation: | MISA |
| Trading platform: | Pocket Option, MT5, MT4 |
| Replenishment / Withdrawal: | Bank transfers, bank cards, cryptocurrencies, Skrill, Neteller, AdvCash, Perfect Money, and other e-wallets |
| Trading features: | Free signals; |
| Accounts: | USD |
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
| Regulation: | FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA |
| Trading platform: | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
| Replenishment / Withdrawal: | Skrill, Neteller, Perfect Money, BTC, USDT, USDC, VISA, VISA Electron, Mastercard, Maestro, and internet banking |
| Trading features: | Floating spreads; |
| Accounts: | EUR, USD, GBP, CAD, AUD, and CHF for all account types; |
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
| Regulation: | CySEC, FSC |
| Trading platform: | MT4, MobileTrading, MT5 |
| Replenishment / Withdrawal: | Cards: Visa, MasterCard; e-wallets: Skrill, Neteller, Wire Transfer, Rapid Transfer |
| Trading features: | Advisors; Hedging; Protection against a gap. |
| Accounts: | EUR |
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
| Regulation: | CySEC |
| Trading platform: | MT4, MT5 |
| Replenishment / Withdrawal: | Visa, MasterCard, Skrill, Neteller, Fasapay e-wallets and bank transfer |
| Trading features: | Cryptocurrency trading; Social trading. |
| Accounts: | Euro, dollar |
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
| Regulation: | ASIC, FCA, FSCA, VFSC |
| Trading platform: | MT4, MT5, WebTrader, Mobile Apps |
| Replenishment / Withdrawal: | Bank transfer, Visa and Mastercard, Neteller, Skrill, FasaPay, Thailand Instant Bank, and PayPal payment systems |
| Trading features: | Automated trading; Pro Trader Tools; VPS server; Analytical instruments; Proprietary mobile application. |
| Accounts: | AUD, USD, GBP, EUR, SGD, and CAD |
FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.
| Regulation: | FCA, CYSEC, FSCA, SCB |
| Trading platform: | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
| Replenishment / Withdrawal: | VISA/MasterCard, Maestro, UnionPay, Cryptocurrency transfers, Perfect Money, Skrill, Neteller |
| Trading features: | Scalping - for all types of financial instruments; Negative balance protection for customer accounts; 24-hour multilingual support, 5 days a week; Advisors; Algorithmic Trading. |
| Accounts: | USD, EUR, GBP, CHF, AUD, PLN, ZAR and JPY |
Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies, indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading through Capitalise.ai and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker.
| Regulation: | ASIC, SCB, CySEC, FCA |
| Trading platform: | MT4, MT5 |
| Replenishment / Withdrawal: | Visa, MasterCard, POLI, wire transfer, BPAY, UnionPay, Skrill, Neteller, BTC and ETH wallets, PayPal, WorldPay, FasaPay, PayRetailers, and PSP |
| Trading features: | Free 30-day demo account; |
| Accounts: | AUD, USD, GBP, EUR, NZD, CAD, and SGD |
FreshForex offers more than 270 assets for trading, including Forex, CFDs on stocks, precious metals, energy, indices, and cryptocurrencies.
FreshForex boasts attractive trading conditions with spreads from 0 pips and leverage up to 1:2000. There are several account types - Classic, Market Pro, and ECN - catering to different trader levels and preferences. Traders can start with a minimum deposit of just $10, though higher deposits are recommended for certain accounts.
While lacking a top-tier regulatory license, FreshForex has built a reputation through 19 years of operation with over 20 international awards for its trading conditions and services. The broker aims to provide flexible, low-cost trading options across multiple asset classes.
| Regulation: | |
| Trading platform: | MT4, MobileTrading |
| Replenishment / Withdrawal: | Bank cards, electronic payment system, Internet-banks, mobile payment SMS |
| Trading features: | Automated trading with advisers; Free analytical reviews; No commission is charged; Trade through Telegram. |
| Accounts: | US dollars (USD), euro (EUR) |
IC Markets stands out as a highly reputable broker offering trading with 2,250+ instruments across Forex, stocks, commodities, cryptocurrencies, and more.
The broker provides ultra-fast execution with order speeds up to 40 milliseconds facilitated by its top-tier liquidity partners and processes over $29 billion in Forex trades daily. With a strong focus on active traders, it offers ECN accounts with raw spreads from 0 pips and leverage up to 1:500 (based on which regulator's rules apply to a trader's account). Copy trading is also well-supported through integration with ZuluTrade, cTrader Copy, and other platforms.
IC Markets clients benefit from robust security and regulatory licenses from ASIC, CySEC, and others.
| Regulation: | ASIC, CySEC, and FSA |
| Trading platform: | MT4, cTrader, MT5, TradingView |
| Replenishment / Withdrawal: | All countries: Wire transfers, Visa, Mastercard, Skrill, PayPal, Neteller, RapidPay, and Klarna; |
| Trading features: | Scalping and expert advisors; |
| Accounts: | EUR, USD, GBP, CAD, AUD, HKD, NZD, CHF, SGD, and JPY |
Scalping is a trading strategy where tight spreads and minimal commissions are crucial for success, as it involves making numerous small profits from short-term price movements. TU has identified 3 forex brokers that support scalping and offer STP/ECN accounts for low-commission trading.
| Broker | Scalping is allowed | STP Forex account |
|---|---|---|
The primary regulatory body overseeing Forex activities in Bangladesh is the Bangladesh Bank, the central bank of the country. Established in 1971, Bangladesh Bank regulates and supervises the financial sector, including foreign exchange transactions. Its regulatory responsibilities cover a wide range of areas, including monetary policy formulation, currency issuance, and management of foreign exchange reserves. Bangladesh Bank plays a crucial role in maintaining stability in the Forex market by implementing policies to control exchange rate fluctuations and ensuring compliance with relevant regulations.
The following bodies provide investor protection in Bangladesh and stand for market transparency and investor interests:
These bodies protect Forex investors in Bangladesh through regulatory measures, enforcement of laws, monitoring market activities, ensuring transparency, and providing education and awareness programs to investors.
Forex taxation in Bangladesh is governed by the National Board of Revenue (NBR). Generally, income from Forex trading is subject to taxation under the Income Tax Ordinance. Traders are required to report their Forex income accurately, and tax rates vary based on the individual's tax bracket. Additionally, withholding tax may apply to certain transactions. The NBR periodically updates tax regulations, and compliance is essential to avoid penalties.
Choosing a Forex broker in Bangladesh is crucial for anyone venturing into Forex trading. It can be the difference between a profitable venture and a loss-making endeavor. There are several factors that one must consider while selecting a Forex broker, some of which include:
Local regulation. Regulatory oversight is the first factor to consider when choosing a Forex broker in Bangladesh. A broker should be regulated by a reputable authority, such as the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). This ensures the broker operates within the confines of set legal and financial guidelines, thus protecting your investments. A broker regulated by the Bangladesh Securities and Exchange Commission (BSEC) would be ideal in Bangladesh
Commission amount. This is another crucial factor to consider. Brokers usually earn their income through commissions or spreads, the difference between the bid and ask prices of a currency pair. Lower commission rates or spreads make trading more profitable for you. It's important to compare the commission structures of various brokers to get the best deal
Order execution speed. In Forex trading, even the smallest delay can lead to substantial losses. Fast order execution ensures that your orders are filled at your desired prices and prevents 'slippage' — the difference between the expected price and the price at which the order is filled. Therefore, the speed at which a broker executes orders is a vital factor to consider
Initial deposit amount. The initial deposit amount required by a broker can significantly impact your ability to trade. Some brokers require large initial deposits, which can be a barrier for new traders with limited capital. On the other hand, many brokers offer accounts with low minimum deposits or even no minimum deposit requirement. Such brokers are a good starting point for beginners
Broker's capitalization. The capitalization of a broker refers to the amount of capital a broker has at its disposal. A well-capitalized broker indicates financial stability and longevity, which means they are less likely to go bankrupt and take your investment with them. Checking the broker's capitalization can provide insight into the broker's financial health and ensure that the broker can withstand financial shocks
The best time to trade forex in Bangladesh is during the overlap of the Asian and European trading sessions, which occurs between 8:00 AM and 12:00 PM (GMT+6). During this time, there is increased liquidity and volatility, which can lead to more trading opportunities. Traders may also consider the overlap of the Asian and North American trading sessions, which occurs between 8:00 PM and 12:00 AM (GMT+6), as another potentially favorable trading time. It's important to note that individual trading preferences, strategies, and market conditions can also influence the choice of the best trading time.
Many people ask: how to start Forex trading. Before you start it, know the best Forex brokers for beginners in Bangladesh. As a beginner, embarking on your journey in the Forex trading world can be daunting. The broker you choose to partner with can play a significant role in shaping your trading experience. Beginners require more support and user-friendly interfaces to grasp the basics of the market dynamics. Here are some key factors to consider while choosing the best Forex broker for beginners:
Low minimum deposits. As a beginner, you might not want to commit significant capital until you have gained enough experience. Brokers who offer low minimum deposits allow you to start trading with small amounts. This way, you can test your strategies and understand the market without putting much at stake
Demo or cent accounts. These accounts allow you to practice trading with virtual money or very small amounts of real money, providing a risk-free platform to learn and experiment. You can understand the market dynamics, familiarize yourself with the trading platform, and test your trading strategies before trading on a live account
Copy trading. This feature allows beginners to replicate the trades of experienced traders. It provides an opportunity to learn from professionals and benefit from their experience. It's an excellent way for beginners to understand successful traders' trading strategies and decision-making processes
PAMM trading capabilities. A PAMM account (Percentage Allocation Money Management) allows you to allocate a portion of your capital for experienced traders to trade on your behalf. This can allow beginners to earn profits while learning the ropes
Educational resources. Forex trading requires a sound understanding of financial markets and strategies. The best brokers for beginners provide a wealth of educational resources, including webinars, tutorials, e-books, and one-on-one training sessions. These resources can help beginners understand the basics of Forex trading, market analysis, and risk management
Customer support. Reliable customer service is a must for beginners. You should be able to reach out to your broker's support team easily via various channels like live chat, email, or phone. They should be able to answer your queries and resolve issues promptly and efficiently
| Broker | Demo | Cent | Copy Trading | |
|---|---|---|---|---|
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We evaluate and assess each broker using over 100 objective criteria, resulting in an average score for each Forex broker, which characterizes all aspects of its work. We also take into account its trading volume, which we have access to thanks to hundreds of thousands of traders of our Union. We also take into account reviews on brokers by their traders, which we curate on our website. As a result, according to our unique algorithmic matrix, which is applied to all companies, our program impartially calculates the overall average for each company and its position in the rating. This makes our rating system the most objective and independent in the Forex market.
Table of categories of criteria for evaluating Forex brokers
| Criteria category name | Criteria number in category |
|---|---|
Financial |
38 |
Reliability |
27 |
Security |
18 |
Trading conditions |
15 |
Customer support |
9 |
Forex trading is legal in Bangladesh, provided you trade with a regulated broker.
Clients from Bangladesh will likely find the most success trading major currency pairs. These pairs are the most liquid (meaning they're easily bought and sold) and tend to have tighter spreads (the difference between the buy and sell price) compared to other options. Here are some of the top choices for Bangladeshi traders: EUR/USD, USD/JPY, and GBP/USD.
The taxation of Forex trading in Bangladesh isn't explicitly defined. However, brokers typically charge a commission on profits.
Forex trading can be halal if it doesn't involve interest (riba) and follows certain other Islamic principles. However, consulting with a religious scholar for specific guidance is best.
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
