Best Forex Brokers in Belarus 2024
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 Forex brokers Belarus based on our analysis:
- 1
Libertex - Best Forex broker in Belarus - Tight spreads and attractive trading conditions. Wide selection of trading assets. Rich selection of educational materials and analytics. - 2
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 3
AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations. - 4
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 5
InstaForex - Large selection of trading instruments. PAMM accounts and the ForexCopy automatic trade copying service for passive income. 24/7 efficient customer support. - 6
Alpari - A wide range of trading accounts. Flexible conditions for depositing and withdrawing funds. Diversity of trading platforms. - 7
xChief - A wide range of trading instruments. Availability of cent and PAMM accounts. Tight spreads and low commission per transaction. - 8
- 9
Gerchik & Co - Transparent information about the broker's owners. A large number of trading accounts. Decent services that can help improve Forex trading. - 10NPBFX - A rich selection of analytical tools and resources. Extensive education section. A variety of trading account types.
Our list of Forex brokers in Belarus formed based on strict evaluation criteria, will help you choose the optimal platform that will match your trading strategies and ensure the reliability and protection of your investments.
Top-10 Best Forex Brokers in Belarus
1. Forex Club Libertex
Libertex is an established broker offering various trading instruments and educational resources. With zero commission on deposits and various analytical tools, this broker can appeal to novice and experienced traders.
Pros and Cons of Libertex
Pros
- Tight spreads and attractive trading conditions.
- Wide selection of trading assets.
- Rich selection of educational materials and analytics.
Cons
- High swaps and inactivity fee.
2. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
3. AMarkets
AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.
Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.
Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.
Pros and Cons of AMarkets
Pros
- A wide range of trading assets.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Cons
- Not the most extensive educational materials.
- On some assets, spreads are higher than those of competing Forex brokers.
4. XM Group
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
5. InstaForex
InstaForex is a popular broker that offers a wide range of trading instruments and specialized accounts. The unique possibility of accruing interest on the account balance, ForexCopy's automatic transaction copying service, and support for cryptocurrency trading make InstaForex an attractive choice for a variety of traders. Customer support is available round the clock, and account replenishment does not charge any commission, which is a significant plus.
InstaForex is suitable for beginner traders and investors interested in passive income through PAMM accounts, as well as for those looking for innovative features such as cryptocurrency trading and automatic trade copying.
Pros and Cons of InstaForex
Pros
- Large selection of trading instruments.
- PAMM accounts and the ForexCopy automatic trade copying service for passive income.
- 24/7 efficient customer support.
- Wide range of methods for depositing and withdrawing funds.
- Decent analytical section.
Cons
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
6. Alpari
Alpari has established itself as a stable and reliable broker, providing its services on Forex for over 20 years. The broker is widely popular among professional traders due to its wide range of trading accounts and instruments and convenient and practical services for investing—PAMM accounts and portfolios. Beginning traders will find quality support, training courses, and favorable trading conditions at Alpari.
Overall, Alpari is an excellent choice for beginners and professional traders.
Pros and Cons of Alpari
Pros
- A wide range of trading accounts.
- Flexible conditions for depositing and withdrawing funds.
- Diversity of trading platforms.
Cons
- Licensing in the Comoros does not provide the same level of investor protection as in countries with stricter regulators.
- Fees for fund withdrawal and inactivity charges.
- Limited choice in terms of different asset classes.
7. xChief
xChief offers traders a variety of opportunities and services for successful trading in the Forex market. With a wide selection of trading instruments, reliable trading platforms, contests, and educational materials, the broker creates conditions for developing traders of all experience levels.
Pros and Cons of xChief
Pros
- A wide range of trading instruments.
- Availability of cent and PAMM accounts.
- Tight spreads and low commission per transaction.
- Scalping and algorithmic trading allowed.
Cons
- Regulation in an offshore jurisdiction.
- Weak analytical section.
- No educational courses and webinars for beginner traders.
8. Grand Capital
Grand Capital is a broker that offers a wide range of trading instruments and account types, making it an attractive choice for traders with different strategies and experience. Narrow spreads, especially on major currency pairs, ensure competitive trading conditions and the availability of educational materials that support novice and experienced traders in their development. The 24/7 multi-lingual support ensures that assistance is promptly provided.
Grand Capital will suit traders who appreciate a variety of trading tools and account types, as well as those who actively utilize educational resources to enhance their skills. The broker will be especially attractive for those who prefer to use MetaTrader platforms and are not concerned about the potential risks of the lack of strict regulation.
Pros and Cons of Grand Capital
Pros
- Diversity of trading account types.
- Tight spreads.
- A wide range of trading assets.
- Multilingual support 7 days a week, 24 hours a day.
Cons
- It is not regulated by leading financial regulators.
- High swaps.
- Lack of MetaTrader alternatives.
9. Gerchik & Co
Gerchik & Co. serves as a commendable platform for traders of all levels. The wide array of trading instruments and platforms makes this broker attractive to novices and seasoned traders.
The educational materials provided by the broker can be particularly beneficial for beginners and those looking to deepen their knowledge. In addition, the broker offers a variety of technical support communication options, which can be valuable for traders requiring immediate assistance.
This broker is suitable for novice and experienced traders due to its comprehensive approach and attention to detail regarding trading and education.
Pros and Cons of Gerchik & Co
Pros
- Transparent information about the broker's owners.
- A large number of trading accounts.
- Decent services that can help improve Forex trading.
- Educational courses, webinars, analytics.
- Opportunity for passive income on TIMA accounts.
- Contests on demo accounts and broker promotions.
Cons
- High commission for transactions on certain types of accounts.
- The website and personal account area may seem inconvenient (according to reviews).
- High deposit requirements for training or using services.
10. NPBFX
NPBFX is suitable for novice and experienced traders, thanks to its extensive educational program, various account types, and set of trading instruments. The broker is particularly noteworthy for those who value quality technical analysis and a diversity of trading instruments.
Despite certain drawbacks, NPBFX provides quality service and can be used by most traders.
Pros and Cons of NPBFX
Pros
- A rich selection of analytical tools and resources.
- Extensive education section.
- A variety of trading account types.
- Numerous available methods for depositing and withdrawing funds.
Cons
- High commission per trade on the Zero account.
- Lack of alternatives to the MetaTrader 4 platform.
- Regulation in an offshore jurisdiction.
Regulation of Forex Brokers in Belarus
In Belarus, the activities of Forex brokers are regulated by the National Bank of the Republic of Belarus (NBRB), which sets standards for licensing and supervision. Licensing from the NBRB is a sign of reliability and compliance with local laws. However, many international brokers also offer their services to Belarusian traders without an NBRB license.
Our list features the best international brokers recognized as conscientious and reliable in the Forex world, serving clients from Belarus while adhering to high service and security standards.
How the List of Top Forex Brokers in Belarus Was Compiled
The selection of leading Forex brokers in Belarus was based on critical evaluation criteria:
The brokers were selected using our Forex broker list, which reflects their market position and reputation.
All brokers included in the list have been assessed and tested according to our methodology.
Each company represented in the ranking provides services available to traders from Belarus.
These criteria ensure that the selected brokers meet strict standards of operability and provide conditions that are critically important for secure and effective Forex trading.
FAQ
Which brokers operate in Belarus?
Various international and local brokers operate in Belarus, providing Forex market services. Among international brokers, companies such as AMarkets, InstaForex, and Alpari are popular. These brokers offer a wide range of trading instruments and services, including education and analytics. Additionally, local brokerage companies may offer conditions adapted to the requirements of Belarusian legislation.
How to choose a reliable Forex broker?
To choose a reliable broker, make sure it has a license, transparent trading conditions (spreads, commissions), convenient methods of depositing/withdrawing funds, and prompt customer support. Check the broker's reviews and reputation.
What is the most reliable Forex broker?
The choice of the most reliable Forex broker depends on several factors, including regulation, customer reviews, length of operation in the market, and the quality of services provided. Some of the most reliable brokers include companies such as IG, FXCM, and Oanda. These brokers are regulated by major financial authorities such as the FCA in the UK and the CFTC in the USA, ensuring a high level of client fund protection and transparency of operations.
How do brokers make money?
Brokers make money in several ways:
- Spreads – the difference between the buy and sell price of a currency pair.
- Commissions – fixed or variable fees for each trade.
- Swaps – fees for holding open positions overnight.
- Additional services – such as providing VPS servers, analytics, signals, and education.
Is it possible to trade in Belarus?
Yes, it is possible to trade in Belarus, including trading on the Forex market. It is important to note that trading should be conducted through licensed brokers who comply with Belarusian legislation. Beginner traders are advised to undergo training and familiarize themselves with the basics of risk management before starting to trade.
How is income from trading taxed in Belarus?
Income from trading in Belarus is subject to personal income tax at a rate of 13%. Traders are required to declare their income and pay taxes independently. It is important to keep records of all trading operations and retain documents confirming income to avoid issues with tax authorities.
