Best Forex Brokers in Belarus 2024
In 2024, the Forex market in Belarus offers traders a diverse selection of companies, each with unique features and offerings. Our Top 10 list of the best Forex brokers in Belarus, formed based on strict evaluation criteria, will help you choose the optimal platform that matches your trading strategies and ensures the reliability and protection of your investments.
Top-10 Best Forex Brokers in Belarus
We have conducted a thorough analysis of numerous companies and selected those that have proven their reliability and offer convenient trading conditions in Belarus. Below, you will find reviews of the best Forex brokers in Belarus, which will guide you in choosing a reliable partner.
Our reviews provide all the necessary information about each broker, including a detailed analysis of their services and feedback from traders who have already used their offerings. Whether you are a beginner in currency trading or an experienced trader searching for the ideal broker, our recommendations will help you make the right decision and ensure the success of your investment initiatives in the financial markets.
1. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Advantages of IC Markets
- Regulation. IC Markets is regulated by two serious financial regulators, ASIC and CySEC, which guarantees client funds protection and trading conditions fairness.
- A wide range of trading instruments. IC Markets clients can trade various assets, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
- Low spreads. IC Markets offers some of the lowest spreads on the market, making trading more accessible and cost-effective.
- MetaTrader, cTrader, and TradingView platforms. These platforms are widely recognized for their advanced trading features and analysis tools.
- Educational materials. The broker offers high-quality training materials suitable for beginners and experienced traders.
- Efficient customer support service. IC Markets clients note the high level of customer support service, which responds quickly and professionally to problems and questions.
Disadvantages of IC Markets
- High minimum deposit. The entry threshold for opening a trading account with IC Markets is relatively high and may be inconvenient for novice traders or those who do not want to invest large sums at once.
- A limited number of withdrawal options. The options for withdrawing funds from IC Markets are limited, which may cause inconvenience, especially for clients who prefer specific payment systems.
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.
Advantages of FxPro
- Various trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge, provide flexibility and convenience in trading.
- A diverse range of available markets and products, including currency pairs, CFDs on indices, stocks, commodities, futures, and cryptocurrencies.
- Analytical tools, including signals from Trading Central and Autochartist functionality.
- Extensive educational materials, including free courses, articles, videos, and webinars, contribute to the development of traders.
Disadvantages of FxPro
- An inactivity fee is charged after six months of no position opening or closing.
- Average trading commissions. FxPro does not have the tightest spreads in the market and not the most minuscule trading commission per transaction.
- Absence of cent accounts and services for copying trades of successful traders.
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.
Advantages of AMarkets
- A wide range of trading instruments, including currencies, stocks, indices, commodities, and cryptocurrencies.
- Extensive analytical capabilities using modern tools and trading robots.
- No commissions on many operations.
- Convenience and simplicity of opening an account and managing it.
Disadvantages of AMarkets
- Not the most extensive educational materials. The broker offers essential resources such as a blog and FAQ but lacks deeper educational content such as webinars, courses, etc.
- The broker does not offer a trading platform, which may disadvantage those seeking a unique trading solution.
- 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.
Advantages of XM
- Wide range of trading instruments. Over 1500 items, including currency pairs, CFDs on stocks, indices, commodities, and cryptocurrencies.
- Extensive educational resources. Including webinars, video tutorials, and online classes for traders of all levels.
- Tight spreads on the Ultra Low account. Spreads below market average, and no swaps on many currency pairs.
- Many analytical materials. The broker offers a wide range of tools and materials for market analysis.
- Commission-free deposits and withdrawals. Many available methods without commissions.
Disadvantages of XM
- Inconsistency in technical support. Customer reviews indicate a mismatch in service quality and inefficiency of solutions.
- Inactivity fee. A charge is levied for account inactivity after 12 months.
- Absence of cryptocurrencies as deposit/withdrawal methods. Limits options for those who prefer to use cryptocurrencies.
- Some accounts have higher than average spreads. For example, the 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.
Advantages of InstaForex
- 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.
Disadvantages of InstaForex
- Trading commissions are above average.
- No trading accounts with market execution of orders (ECN or STP).
- Broker commission on fund withdrawals.
6. 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.
Advantages of Libertex
- Reliability and regulation.
- Tight spreads and attractive trading conditions.
- Wide selection of trading instruments.
- Rich selection of educational materials and analytics.
Disadvantages of Libertex
- Absence of specialized accounts - such as Islamic accounts and accounts for passive investing.
- High swaps and inactivity fee.
- No email address provided for support contact and no chat on the website. The only quick way to contact support is by phone, which may be inconvenient for some traders.
7. 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.
Advantages of Alpari
- A wide range of trading accounts. Broker Alpari offers a variety of trading accounts suitable for different types of traders and investors.
- Flexible conditions for depositing and withdrawing funds. Broker Alpari provides flexible and competitive conditions for depositing and withdrawing funds.
- Diversity of trading platforms. Alpari offers a variety of trading platforms that meet the needs of most traders.
- Effective technical support. Alpari provides user support at all stages of service.
Disadvantages of Alpari
- Licensing. 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. Alpari may charge fees for fund withdrawal and inactivity, which can be off-putting for some clients.
- Limited choice in terms of different asset classes. Although broker Alpari offers a wide selection of assets for trading, some competitors offer a greater variety in terms of different asset classes.
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.
Advantages of Grand Capital
- Diversity of account types. Grand Capital offers an extensive selection of account types, allowing clients to choose the most suitable for their trading strategies and preferences.
- Tight spreads. The broker provides competitive spreads, especially on major currency pairs, making trading more profitable.
- Markets and products. Grand Capital features a wide range of trading instruments, including Forex, stocks, commodities, indices, and cryptocurrencies.
- Support. Grand Capital provides multilingual support 7 days a week, 24 hours a day, ensuring prompt assistance to clients with any issues.
Disadvantages of Grand Capital
- Regulation. Although the company is registered in the Seychelles, it is not regulated by leading financial regulators such as the FCA in the UK or ASIC in Australia, which may raise certain concerns among clients.
- High fees. In addition to spreads, Grand Capital has other fees, such as the overnight position rollover fee (swap), which can increase the overall cost of trading.
- Lack of MetaTrader alternatives. While MetaTrader 4 and MetaTrader 5 are widely used and recognized by traders, some clients may look for brokers offering alternative platforms, such as cTrader or proprietary developments.
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.
Advantages of Gerchik & Co
- 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.
Disadvantages of Gerchik & Co
- 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.
Advantages of NPBFX
- A rich selection of analytical tools and resources, including an exclusive analytical portal and a news feed from Dow Jones.
- Extensive education section, offering various video courses, e-books, and other educational materials.
- A variety of account types cater to the needs of different categories of traders.
- Numerous available methods for depositing and withdrawing funds provide convenience for clients.
Disadvantages of NPBFX
- High commission per trade on the Zero account.
- Lack of alternatives to the MetaTrader 4 platform, which may limit options for some traders.
- Regulation in an offshore jurisdiction, which may pose certain risks for clients.
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.
Brokers included in the list demonstrate high performance according to our evaluation 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.
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 to Choose a Reliable Forex Broker
Selecting the right Forex broker is fundamental to trading in the international currency market. To make an informed choice, it's crucial to thoroughly assess the criteria that match your individual needs and trading style. The absence of drawbacks that could hinder your trading is also vital. When choosing a Forex broker, consider the following aspects:
Broker Regulation. Prefer brokers regulated by authoritative organizations like the NBRB, FCA, ASIC, CySEC, as it ensures the reliability and legality of their operations.
Account Types. Evaluate the types of Forex accounts the broker offers and whether they match your trading experience and capital, to ensure the most suitable trading conditions.
Trading Platforms. Choosing a broker that provides convenient and functional trading platforms that meet your requirements is essential.
Trading Conditions. Analyze spreads, commissions, minimum deposits, and available lot sizes to ensure they align with your goals and trading style.
Customer Support. Ensure that the support service is efficient and available through communication channels convenient for you.
You can confidently select a Forex broker that meets all your requirements using these guidelines. Opening a demo account can help you assess the quality of services of a potential broker before starting actual trading.
Conclusion
Choosing the right Forex broker is critically important for success in the currency market. Critical aspects of the choice are the broker's reputation, regulation, trading conditions, and the level of support provided to its clients. Our top list of the best Forex brokers in Belarus is designed to simplify this task for you, providing objective information and opinions from active users. We hope our effort will help you find a reliable broker that meets all your requirements and becomes your trusted partner in the world of Forex, opening doors to financial independence and trading success.
