Qatar is a middle-eastern country and a part of the Gulf Cooperation Council. The country was declared one of the wealthiest economies in the world by the World Bank and IMF. It derives its maximum GDP from exporting natural gas and petroleum. It has one of the largest reserves of natural gas in the world.
Qatari Riyal is the national currency of Qatar which the Qatar Central Bank maintains. The bank is responsible for dispensing stability in the financial market and regulating the exchange rate of Qatari Riyal (QR) in terms of other currencies.
The financial market of Qatar has a lot to offer to traders. The market is very active and completely equipped with online brokers who can help you trade in Forex, commodities, stocks, and other securities.
Qatar brokers are regulated by the Qatar Financial Markets Authority (QFMA). Forex brokers who promote brokers in Qatar usually offer Islamic accounts.
The Best Forex Broker in Qatar
The best forex broker in Qatar is Avatrade because this brokerage company offers Islamic accounts, excellent Arabic support, domestic agents, and fast withdrawal. The most significant proof is the large number of clients from Qatar.
Rating you can see on our best forex brokers page review.
Qatar Stock Exchange
Founded as Doha Securities Market in 1995, it was renamed Qatar Stock Exchange (QSE) after signing a strategic partnership with NYSE Euronext. The QSE is Qatar’s principal stock market, and it aims to provide a platform for all the Qatari companies to raise capital. This will, in turn, provide support to the economy. Also, QSE is transparent with all the financial and capital market information while dispensing it to the public and investors.
Top Qatar Brokers
Three central regulatory bodies are responsible for checking the working of all the financial and banking institutions, stock market, and brokerage firms. Even after the presence of more than one regulatory body, most forex Qatar brokers are not regulated. This is because of the Islamic Sharia Law that the country follows. But, Forex traders have the option to look for the regulated forex brokers out of the territory. Qatar allows international brokerage houses to provide Qatari nationals or foreign investors trading assistance to trade in the QSE.
Below are the top regulated forex brokers in Qatar:
| Largest Forex broker Review | Visit | Min. lot size | Max. leverage | Min. deposit | Grade |
|---|---|---|---|---|---|
HFM | VISIT HFM | 0.01 | 1:1000 | $1 | 99 |
Capital.com | VISIT CAPITAL | 0.01 | 1:30 | $20 | 98 |
Avatrade | VISIT AVATRADE | 0.01 | 1:400 | $1 | 97 |
FxPro | VISIT FXPRO | 0.01 | 1:500 | $100 | 96 |
IC Markets | VISIT IC MARKETS | 0.01 | 1:500 | $200 | 96 |
XM.com | VISIT XM | 0.01 | 1:888 | $5 | 94 |
Securities and Accounts
There is a wide range of investment opportunities available for individuals and companies in the QSE. It provides access to market securities to both international and domestic investors. To accommodate these securities’ smooth trading, the trader can choose from different types of accounts.
Types of securities:
- Forex
Forex trading is active and legal but not entirely regulated in Qatar. This is due to many reasons, one of them being the firm foundation of the financial market based on sharia law. As the accumulation of interest is prohibited in Islamic law, the QSE imposes very little or no restrictions for forex brokers to be regulated. But the need for forex trading is there to bring in foreign investment. However, the traders who wish to have a sense of security with the acquisition are welcomed by the offshore forex brokerage. Their national law regulates these offshore forex companies. Some of the examples of these offshore forex companies are the Cyprus Securities and Exchange (CySEK), the Caymen Islands Monetary Authority (CIMA), the UK Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).
- Cryptocurrency
Bitcoin or cryptocurrency, or blockchain, is declared illegal by the Qatar Central Bank. The QCB has made it clear to all the banks that anyone found conducting such trading will have to face penalties. This is in view to protect the traders’ interests and secure the functioning of the banking sector. Also, there are incidents of cyber fraud and financial crimes associated with cryptocurrency. Although the country is working towards digitizing the transactions, it does not support cryptocurrency trading.
- CFD (Contract For Difference)
CFD is a better option for those who do not want to invest much of their capital. In the CFD case, the trader does not get the ownership of the asset (stocks, commodities, indices, futures, etc.) but gets into a contract with the owner of the asset or the bank. The investor’s profit or loss is the difference between the current market price and the market price when entering the contract. The difference between these two prices is paid and received depending upon the trader’s loss of profit. Qatar also offers CFD day trading, which has attracted many traders due to its underlying benefits.
- Commodity Trading
Qatar’s commodity market is pretty much active. A large part of the commodity trading in Qatar is taken by natural gas.
Qatar brokers also provide various account types like VIP accounts, gold accounts, demo accounts, starters accounts, and Islamic accounts. Traders can choose from the many options available and start trading with the Qatar broker in the stock market.
For a very long time, Qatar has attracted many investors and traders. Being one of the wealthiest economies, traders invest in its market for suitable returns. However, the market forces are unpredictable, and one must look out for them. The presence of more than one regulatory body safeguards the trader’s interest and provides a smooth and legalized trading environment. As a part of the Gulf Cooperation Council, traders can also access these markets without any barriers.
Due to Qatar’s political disturbances and neighboring countries like Saudi Arabia and UAE, liberal trading has been disturbed. But the Qatar government is working towards getting back the previously established relationship with these countries and bringing back more investment opportunities for the traders and more foreign investment.
Selecting the Best Qatar Broker
If you compare the present trading time with the past, a much more comprehensive range of options is available in securities and brokers. Once you have decided on the type(s) of securities you want to trade, according to your capital availability and your return expectations, the next step is to look for the best Qatar broker. You cannot just pick a random broker from the market and start trading. Selecting a broker requires expert analysis. Different brokers have different aspects and trading styles. The trader must choose the most suitable one for their planned portfolio.
The following are some viewpoints of traders that they look for in a broker or brokerage house.
- Research Analysis
Many Qatar brokers provide traders with detailed research work to educate traders. This helps the trader to understand how the particular market works? What securities are traded in that market? How can the trader enter the market? What are the rules and regulations of trading? And many more. If your broker can give the proper research analysis, you will be able to trade efficiently with all the information in your hand.
- Transaction Speed
The movement of funds happens now and then during trading. Be it opening an account, selling and buying securities, paying off fees, etc. Make sure your Qatar broker is efficient enough to move such transactions quickly. The trader can consider a broker who can get done with these transactions within 2 or 3 days as a skilled broker.
- Experience Level
All the brokers in the market do not start trading simultaneously. Different brokers enter the market at other times. The time spent in the market determines the broker’s level of experience. The level of assistance an experienced broker can provide you cannot be compared to a new broker. His experience level will ascertain how aware he is of the market and how quickly he can respond to any market movement.
- International Sources
Since trading is done internationally, having only local sources is not sufficient. Your Qatar broker must also have origins in the international market to provide you with facilities like communication, understanding the market trends, getting aware of the international laws of trading, and many more.
- Regulated
The involvement of a regulatory body is a must while trading. The regulatory body makes sure that the trader’s funds are put into a separate account from the broker. And that these funds are invested in legal securities and in a legal way. There should not be any misuse of the trader’s funds, and the trader’s interest should be kept safe.
- History of the Broker
It is always advised to check the working history of the Qatar brokers you have shortlisted. Check how long they have been working in the industry?
If they were ever a part of any misconduct? How would their customers define their experience of working with the broker? Apart from these questions, one can also look for the broker’s turnover, growth in the market, active customers, and many more.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
