Best Forex Brokers in Egypt 2023

Forex Brokers List in Egypt 2021 Updated

To trade forex in Egypt, you must set up an account with a broker. This is where you place your trades as an investor. If you are having trouble finding the best forex brokers in Egypt, this post will help you out! There are many different factors to consider when choosing a broker, and you will get to know all of them in this article. In addition to that, the Egypt forex brokers list will also be provided to ease your broker-choosing criteria.

Best Forex Brokers in Egypt List:

RANK	REGULATION We only list licensed brokers that comply with the requirements of prominent regulatory agencies.	MIN DEPOSIT The minimum amount you need to deposit in order to start trading.	DEPOSIT BONUS	RATING	MAX LEVERAGE Leverage refers to the ratio of securities you can buy for a given payment. The higher the leverage ratio, the higher your buying power (and the higher the risk). For example, a leverage ratio of 500:1 means you can purchase 500 securities, but only pay the equivalent of 1 security valuation. The leverage ratio offered can vary depending on the experience level of the trader.	SUPPORT	START TRADING
1	ASIC, CySEC	$100	No Bonus	99 Read Review	1:500	Telephone: +44 28 2544 7780	Open an Account More Information
Pros Excellent education tools Low forex fees Fast account opening Easy funding methods Cons No bonuses Platforms & Devices READ FULL REVIEW
2	FCA, CySEC, FSCA, SCB	$100	No Bonus	94 Read Review	1:100	Telephone: +44 (0) 203 151 5550	Open an Account More Information
Pros Excellent customer service Free deposit and withdrawal Negative balance protection Wide range of platform Cons Inactivity fee High Trading Fees for some CFDs Platforms & Devices READ FULL REVIEW
3	FSC	$100	65%	92 Read Review	1:200	Telephone: +52 556 826 8868	Open an Account More Information
Pros Different passive income options Discount on commissions for active traders Positive price correction Tight market spreads Cons Low leverage Less research tools Platforms & Devices READ FULL REVIEW
4	ASIC, CySEC, FSA, SCB	$200	No Bonus	91 Read Review	1:500	Telephone: +248 467 19 76	Open an Account More Information
Pros Low forex fees Fast order execution Analytical training materials 90+ instruments Cons Slow live chat support Non-EU traders don’t get investor protection Platforms & Devices READ FULL REVIEW
5	ASIC, CySEC	$1	100%	90 Read Review	1:3000	Telephone: +35 7251 23212	Open an Account More Information
Pros No withdrawal fee Low stock and stock index CFD fees Negative balance protection No inactivity fee Cons Average forex CFD fees No PAMM accounts Platforms & Devices READ FULL REVIEW
6	FSA	$0	No Bonus	90 Read Review	1:500	Telephone:	Open an Account More Information
Pros 9 base currencies 24/7 technical service Direct market access VPS, FIX API, copy trading Superior trading conditions Cons No negative balance protection Withdrawal fees Platforms & Devices READ FULL REVIEW
7	ASIC, CySEC, FSC	$5	Up to $5000	88 Read Review	1:1000	Telephone: +501 223-6696	Open an Account More Information
Pros Low withdrawal fees Great educational tools Wide range of leverage Multilingual customer support Cons Non-EU traders don’t get investor protection Lack of weekend customer support Platforms & Devices READ FULL REVIEW
8	FCA, DFSA, FSCA, FSA, CMA	$5	100%	85 Read Review	1:1000	Telephone: +44-2030978571	Open an Account More Information
Pros Low spread Controlled by several regulators Numerous deposit and withdrawal Favorable trading conditions Cons Few account currencies Only USD or EUR as base currencies Platforms & Devices READ FULL REVIEW
9	ASIC, FCA	$0	No Bonus	78 Read Review	1:500	Telephone: +61 2 9965 5830	Open an Account More Information
Pros Automatic insurance coverage Low entry threshold Fully digital account opening Low forex fees Cons Limited research tools Only forex and CFD trading Platforms & Devices READ FULL REVIEW
10	FCA, ASIC, DFSA	$200	No Bonus	75 Read Review	1:30	Telephone: +1786 628 1209	Open an Account More Information
Pros Digital account opening process Seamless deposit and withdrawal Attractive trading conditions No inactivity fee Cons No cent account Few analytical materials Platforms & Devices READ FULL REVIEW

Is Forex Trading Legal in Egypt?

Forex trading in Egypt has no legal binding. Hence, it is completely legal for retail and institutional forex traders. However, you have to trade using the regulated forex brokers in Egypt to get the most out of it legally.

While forex trading in Egypt has substantial growth potential, and currency fluctuations can have significant repercussions for markets around the globe, it also comes with certain risks and potential consequences. Therefore, you have to be alert while trading in Egypt.

Factors to Consider to Choose the Best Forex Brokers in Egypt

Forex is a complex financial market that many people are hesitant to jump into. However, the Forex market can be lucrative for those who know how to trade it. To help traders take on this daunting and risky endeavor, we have compiled a list of things to consider when choosing the best forex brokers around.

Promotion

The first thing you will want to check is whether or not a broker offers promotions for new traders. For example, some brokers will offer a no-transaction-fee for a full year. In this situation, you will find that your trading activity will be tracked so that you can receive bonuses at the end of the year.

Some brokers offer free training to help new traders get started. Others offer trading mentorship and a virtual office where you can work with your broker 24 hours a day, 7 days a week, to give better support when you need it.

Read the Fine Print

You will need to read and analyze the fine print when you choose a broker. Look for brokers that offer telephone support, and also make sure they have a comprehensive FAQ page that addresses any questions you may have.

Regulation

One of the top deciding factors in choosing the best forex brokers in Egypt is regulation. Ideally, you will want to choose a broker that's regulated by multiple agencies so that if one agency fails, others will be there to pick up the slack. In addition, you will want to look for a broker that has wide acceptance in the industry, as you do not want to trade with a broker that's too new.

Deposit

While it may be tempting to put your money into a highly-regulated forex broker, this can be a bad idea. Do your research and find out what the minimum deposit is before you take the plunge. If a broker requires a full $100,000 deposit, you may want to look elsewhere.

Fees

The fees that you will pay can vary drastically depending on what types of accounts your broker offers. Some brokers will charge you an annual fee, while others may charge flat-rate fees per trade. When choosing the best Egypt forex brokers, look at what fees are required to open up trading accounts and how much they are. If a broker doesn't offer bundle accounts that save you money, it may be better to choose another broker.

Variety of Currency Pairs

Forex brokers are often calculated by the number of currency pairs they offer to trade with. Look at a forex broker's website and count the number of currency pairs available to trade with before you choose a broker. A good rule of thumb is that a broker should have over ten currency pairs available.

Banking

You will also want to look into how the company handles banking. In some countries, it's illegal to forex trade through a bank account. In this situation, you will want to find a company that offers offshore banking.

Customer Service

This is probably the most overlooked aspect of choosing a broker. When choosing a forex broker, you'll likely be inundated with emails and phone calls for support. You should look for a broker that has 24/7 customer support so that you can always get answers to your questions or help with any problems that arise.

Bonus

Most brokers will offer a bonus for new traders. However, some brokers give bonuses for beginners that last for a short period of time. In addition, you need to find a broker that offers different types of bonuses so that you can choose the type that best fits your trading style.

What is the Best Trading App in Egypt?

If you want to choose the best forex brokers for beginners in Egypt, FxPro should be your first choice. FxPro is one of the top forex brokers in Europe. It offers an easy-to-use platform with a wide range of tools and reliable trading tools. FxPro is also fully regulated by many regulatory bodies, ensuring that clients' personal details are safe. It is an FCA, CySEC, and FSCA-approved forex broker.

FXPro is also known for its reliability and trust as it offers real-time quotes, a wide range of trading tools, and advanced technology to its customers. The broker also ensures that the client's funds are safe in different ways. The company has multiple methods of deposit, including credit cards, bank wires, e-wallets, and credit cards.

Can I Withdraw Money Earned from Forex in Egypt?

Egyptian banks allow you to withdraw the money you have earned from forex trading in Egypt. However, it is better to seek professional assistance before you make any withdrawal. But we can say with certainty that withdrawing your earnings is a viable option.

Final Words

One thing is for certain when it comes to forex trading in Egypt; the broker you choose to run your currency exchange will have a huge effect on what's happening there. In the case of choosing from the forex brokers list in Egypt, it can be difficult at times as there are hundreds of them. Regardless, Egyptians should still try their luck in this adventurous career field. However, choosing the best forex brokers in Egypt will help you ease your trading career.