Contents
- 1 What are the best Forex brokers in Jordan?
- 2 What are the regulations in the country?
- 3 Is Forex trading in Jordan safe?
- 4 What are the most popular trading platforms among Forex traders in Jordan?
- 5 What are the pros and cons of trading Forex in Jordan?
- 6 Is mobile trading available for Jordanian Forex traders?
- 7 What is the national currency of Jordan and what payment methods are accepted?
- 8 Should you start Forex trading in Jordan?
Forex trading is getting more and more popular around the world as time goes by. Every day, more people are starting to get interested in the field of Forex and because of such demand, more and more Forex brokers are starting to offer their services to the citizens of different countries.
As modern technology develops, these companies are starting to use them more actively. For example, every day, larger numbers of Forex brokers are announcing that they are planning to offer their users the ability to start Forex trading using their phones, tablets, etc.
In general, the field is getting more accessible to everyone around the world. Recently, Jordan also started adopting new regulations that help the country to further develop the field of Forex. There are a number of local and international Forex brokers that are actively offering their services to the people of the country.
In today’s guide, we will be talking everything about the best Forex brokers in Jordan for 2020, so, if you are looking for a new place to start trading, follow our guide carefully!
What are the best Forex brokers in Jordan?
Probably one of the hardest things about Forex trading is finding the perfect broker. We know how much effort it can take, so, to make your job a lot easier, we have done very detailed and important research on our own and finally came up with a list of the best Forex brokers in the country.
While working on this list, we made sure to focus on every important aspect of the Forex broker. These include everything between regulations, payment methods, trading platforms, and many others.
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Min. depo
$5
Leverage
1:888
Platform
MT4, MT5, WebTrader
XM
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Min. depo
100 USD
Leverage
400:1
Platform
MT4, MT5
AvaTrade
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Min. depo
$100
Leverage
1:30
Platform
WebTrader, Windows 10 Trader
Plus500
What are the regulations in the country?
In general, the retail Forex and CFD market in the country is overseen by the Jordan Securities Commission, JSC. The JSC is a public institution, which has financial and administrative autonomy to develop, regulate and monitor the country’s capital market, while also maintaining a sound investment environment and protect the rights of the investors.
In addition to the retail market, the regulatory body also takes care of the Amman Stock Exchange, the Securities Depository Center, different types of financial provider companies, public shareholding companies, investment funds, and many other financial institutions and even certified financial professionals.
In addition, the commission has the right to investigate complaints form the people and investors and it also can impose accurate penalties on any violations.
Are regulations important?
Regulations are probably the most important part of a Forex broker. There are many people who will tell you that you should not care about regulations of the market at all, however, we believe that you should only trade with companies that own some type of authorization from an official regulatory body.
Forex is already a very risky field and you should not want to add other risks to it. There are many ways you can make sure that you are trading with a trustworthy company. One thing that you can very easily do to double-check the information provided by the broker. For this, all you need to do is to contact the regulatory body and ask them to give you the list of the authorized Forex brokers.
Is Forex trading in Jordan safe?
Jordan is considered to be a very safe place for Forex trading because of the regulations that are in place. There are many people who call in a second Cyprus in terms of Forex trading because of the huge number of regulations that it has adopted. The country is very strict when it comes to Forex trading, which gives traders another layer of safety.
In addition, other than local Forex brokers, there are a number of international FX brokers in Jordan that offer services to the citizens of the country. The vast majority of these international Forex brokers are authorized by both, international regulatory bodies and local JSC.
This is a very important thing since it offers traders additional feelings of safety. The most popular and trustworthy regulatory bodies around the world are The Financial Conduct Authority, FCA, of the UK, the Australian Securities and Investment Commission, ASIC, or the Cyprus Securities and Exchange Commission, CySEC, etc.
What are the most popular trading platforms among Forex traders in Jordan?
As in many other countries, one of the most popular trading platforms in Jordan is MetaTrader 4. MT4 is a very well known platform, that was developed 15 years ago by a Russian company called MetaQuotes. The platform offers traders access to a very large trading market, which is full of different types of currency pairs.
MT4 is used by more than 90 percent of all the Forex brokers worldwide and is best-known for the easy-to-use interface that can be enjoyed by anyone, even those who have just started trading.
Other very popular trading platforms include those like MT5, which is a newer version of MT4, and the cTrader. In fact, some of the Forex brokers in Jordan have special trading platforms that were created especially for them. However, MetaTrader 4 remains to be the most popular trading platform on the market, both in Jordan and around the world as well.
What are the pros and cons of trading Forex in Jordan?
Forex trading has become very popular in Jordan over the last few years and as much as they are many good things happening in the country, there are some things that you need to be aware of.
Pros:
- One of the biggest advantages of the Forex trading in Jordan is that the field is very well regulated
- There are many international and local FX brokers in Jordan
- The economy is developing very fast, which makes it a very good place for trading
Cons:
- Because of the fact that FX trading is still very new in the country, there still are some things that need to be worked on
- Sadly, there are many international Forex brokers that do not have customer service that can provide help in Arabic
Is mobile trading available for Jordanian Forex traders?
Yes, most of the Forex brokers in Jordan will offer you the ability to do your trading using your phone or tablet. This mostly is done with the help of a trading platform, such as MT4, which you can use directly through an internet browser on your PC, or download it. It also has a version for mobile phones.
This is a great advancement since it lets more people have access to the field of Forex. Also, no matter where you are, you can always take advantage of the trading market. It becomes especially important when there is some type of movement on the market, most of the traders who are traveling ofter will take this very helpful.
On the other hand, this can be great news for those who are living in less-developed regions of the country, where most of the people do not have access to personal computers. Below is the list of some of the best FX brokers in the country, take a look and start trading with your favorite right now.
XM
Min. Depo
$5
Licences
FCA, CySEC, IFSC, ASIC, DFSA
Leverage
1:888
Platforms
MT4, MT5, WebTrader
AvaTrade
Min. Depo
100 USD
Licences
ASIC, FSA, FSCA, FFAJ, FSRA, FSC
Leverage
400:1
Platforms
MT4, MT5
Plus500
Min. Depo
$100
Licences
FCA, ASIC, CySEC, FSCA, FMA, MAS
Leverage
1:30
Platforms
WebTrader, Windows 10 Trader
Exness
Min. Depo
$10
Licences
CySEC, FCA, SFSA
Leverage
1:2000
Platforms
MT4, MT5
Forex.com
Min. Depo
$100
Licences
NFA, CFTC, FCA, FSA, IIROC and CIMA
Leverage
1:50
Platforms
WebTrader, MT4, MT5
CMTrading
Min. Depo
250 USD`
Licences
FSCA
Leverage
1:200
Platforms
MT4, WebTrader, Copykat
What is the national currency of Jordan and what payment methods are accepted?
Jordanian dinar is the national currency of Jordan, and it has been so since 1950. The official code of the currency is JOD, and it is pegged to the US dollar. The main regulator and issuer of the money are the Central Bank of Jordan. Generally, the currency is not that actively traded worldwide, but there are a number of Forex traders who use this currency.
We would recommend to everyone trading in Jordan to find Forex brokers that accept payments in a local currency, to avoid paying huge amounts of money for exchanging the funds.
Should you start Forex trading in Jordan?
If you are living in Jordan or are considering moving there, we have already talked about the things that you should keep in mind. Our greatest advice would be to always try to focus on details before you start trading, even though the field is well-regulated in Jordan, there still are a number of people who are trying to lie to people and scam them.
So, we believe that as long as you are willing to stay safe, you are good to go and start Fore trading in Jordan!