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Forex brokers in Iran

Online forex trading is not very popular in the Islamic Republic of Iran, even after most financial and economic sanctions against the country were lifted in January 2016. Then, in November 2016, the Central Bank of Iran (CBI), which is in charge of the monetary and credit system of the country, including the foreign exchange, banned all online currency transactions.

 

Although the restrictions on online currency trade by bureaux de change have been eased and some banks were authorized to trade in foreign exchange at a “rate set by agreement between the bank and the customer”, the Iranian rial (IRR) is still under a tightly controlled currency regime.

 

Entering the forex trading market is not that easy in Iran. Most fores brokers don’t accept as clients Iranian residents. However, there are some who do, and even offer IRR deposits and withdrawals, such as global forex broker FXTM. The brokerage tries to offer convenient local transfer options to clients from all Middle East countries.

 

HYCM, a major forex and CFD broker regulated in Cyprus, UK and Dubai, is yet another option for Iranian forex traders. Of course, brokers accepting investors from this country, offer swap-free trading services, which are in line with their Islamic belief.

Forex brokers in Iran

Broker Country Regulation Platforms Min.deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
BVI, Cyprus CySEC, FSC MT4, MT5,
NetTradeX
$1 Review

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