10 Best
Forex Trading Platforms and Brokers in
Algeria

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Trading forex has become extremely popular in Algeria for those who would like to earn an extra income by exchanging currencies. Algerian nationals with the basic knowledge of money and currency trading has an opportunity to open accounts with forex brokers to take advantage of one of the biggest profit earning opportunities in the world. Forex brokers offer leverage so traders can trade hundreds of thousands of dollars even if they start out with a small amount.

Forex trading is available in Algeria, exciting and educational, and filled with countless opportunities but many traders fail to learn how to become successful or achieve good results. Learning to trade Forex and for that matter, learning how to trade in general can be difficult, but not in the least impossible.

Multiple comparative websites will display shining Broker reviews which will provide traders with an overview of only the best the broker has on offer. We have listed the Best Brokers for traders situated in Algeria that covers a wide range of trader needs.

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the stock
Markets

with 1:2 leverage
on the world's
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Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Advantages of Islamic Accounts

Simply said, Forex is the global market which allows traders to take part in the exchange of one currency for another.  For anyone who has ever travelled from one country to another, they will have to visit the currency exchange booth at the airport to exchange their current currency into the currency of the country they are visiting. (btw, these travellers are indirectly a part of the forex trade! Cool right?)  Travellers will notice a display screen displaying different exchange rates for different currencies.

In forex trading ‘lingo’, assuming a traveller is an American visiting Algeria, they will be selling dollars and buying Algerian Dinar.  Before a traveller returns to their home country, they will stop by the currency exchange booth once again to exchange the Algerian Dinar that they have left over and notice the exchange rates have changed and it is these changes in the exchange rates that allow traders to make money in the foreign exchange market.  The foreign exchange market better known as “forex” or “FX” is the largest financial market in the world.  The New York Stock Exchange (NYSE) trades $22.4 billion per day, the Foreign Exchange Market – a jaw dropping $5 TRILLION per day!  The currency market is over 200 times larger all the US stock markets combined! The forex market is open 24 / 5 and only closes down during the weekend, unlike stock or bond markets which closes at the end of each business day.

Trading just shifts between different financial centres around the world from Wellington, to Sydney, Singapore, Hong Kong, Tokyo, Frankfurt, London, and finally, New York, before trading starts all over again in Wellington!

What Is A Trader?

A trader is someone who places orders on the market, on behalf of financial institutions or as an independent trader. 

What Is Traded In Forex?

Money!  Because traders are not buying anything physical, forex trading can be confusing, especially for beginners.  The price of the currency is usually a direct reflection of the market’s estimation on the current and future health of countries respective economies.

Major Currencies

While there are potentially lots of currencies traders can choose to trade, a beginner trader will probably start trading with the “major currencies “which can be confusing to start, right? Here is a cheat sheet!

CODE

COUNTRY

CURRENCY

NICKNAME

USD

United States

Dollar

Greenback/Buck

EUR

Eurozone

Euro

Fiber

JPY

Japan

Yen

Yen

GBP

Great Britain

Pound

Cable

CHF

Switzerland

Franc

Swissy

CAD

Canada

Dollar

Loonie

AUD

Australia

Dollar

Aussie

NZD

New Zealand

Dollar

Kiwi

Currency symbols will always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency and these three letters are known as ISO 4217 Currency Codes.

What is a Forex Broker?

A forex broker, also known as a retail forex broker, or currency trading broker, in modern financial and commercial trading means a midway/intermediary who buys and sells a particular asset/assets for a commission. 

What Is The Best Trading Platform?

Unfortunately, there is no trading platform that is perfect or offer all of the fantastic features on offer in the market. But many platforms will offer aspects that will make them stand out from the rest.

To find the best international online brokers perfect for Algeria, we did the research on the trader’s behalf. After testing, analysing and comparing multiple brokers, the following 10 Top brokers have made it to the list. We highly recommend all 10 to Algerian traders. 

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

The Best Forex Trading Platforms and Brokers in Algeria

Interactive Brokers

Interactive Brokers

Interactive Brokers is an online broker which was founded in 1977 and offers Forex trading of over 100 instruments and over 10 currency pairs on a user-friendly custom trading platform, available as a browser-based web application. Interactive Brokers is a global broker and has a head office in United States and traders need to make a minimum deposit of $10000 as a start.

Interactive Brokers Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP

Interactive Brokers Trading Accounts Offered include:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Managed account

Interactive Brokers support a wide range of languages including English, Mandarin, Cantonese, Nihongo and more.

Swissquote best broker

Swissquote

Swissquote is an online broker which was founded in 1999 and offers Forex and Social Trading, is a globally recognized broker and has a head office situated in Switzerland.  New traders with Swissquote will need to make a minimum deposit of $1000 and a demo account is available.

Swissquote is able to accommodate various levels of traders and offers a wide variety of instruments and trading currency to choose from.

  • Over 100 instruments
  • Over 150 currency pairs

Swissquote offers both of the MetaTrader platforms; MT4 and MT5 plus mobile apps for Android and iOS.

Swissquote Trading benefits:

  • Allows scalping
  • Allows hedging

Swissquote Trading Accounts on Offer include:

  • Demo account
  • Mini account
  • Standard account

With Swissquote, the minimum and maximum trade requirements will vary depending on the trader and the instrument and the platform supports a wide range of languages including English, German, French, Italian, Spanish, Arabic, Russian, and Chinese.

Swissquote is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country’s financial regulator.

oanda best broker

OANDA

OANDA is the Most Regulated Forex Broker and operate across six of the most credible authorities including:

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA – (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority Of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

OANDA Focuses on Transparency

OANDA is focused on pricing transparency and customer satisfaction and they offer real-time data from liquidity providers and finds mid-points across instruments. When it comes to customer support, OANDA boasts multiple customer service awards for 24 hours/6 days a week support. Live chat, emails and phone support is available.

xtb best broker

XTB

XTB is an online broker which was founded in 2002 and offers Forex, CFDs, and Cryptocurrency trading.  XTB is a global broker with their head office situated in Poland.

XTB have won numerous industry awards over the 18 years that they have been operating as a financial broker and traders can choose to trade in a wide variety of instruments over 1,500 instruments and over 50 currency pairs in fact.  XTB offer traders the popular MT4 forex trading platform alongside the award-winning Xstation5.

XTB also offers traders mobile apps for Android and iOS and customer support in a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish.

XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange. 

Cityindex best broker

City Index

City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform.  City Index also offer mobile apps for Android and iOS.

City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start. 

City Index Trading benefits:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

City Index Trading Accounts on Offer include:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • STP account
  • Managed account

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.

City Index is authorised and regulated by the UK Financial Conduct Authority, offering a high level of security and safety. 

Forex Time (FXTM)

ForexTime

Forex Time (FXTM) is a MetaTrader broker which offers traders forex and CFD traders multiple account options for both MT4 and MT5 platforms. Some products are segmented by account type. Forex Time (FXTM) was founded in 2011 by forex industry veteran Andrey Dashin and is considered average-risk.

Feature

ForexTime

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

59

CFDs – Total Offered

193

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

No

FXTM offers traders several different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.

FXTM is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

HotForex

HotForex

HotForex offers traders a variety of account types to choose from including fixed and floating spreads, commission-free trading (in Micro, Premium and Fixed accounts) or tighter spreads, involving commission fees. Beginner traders can sign up for Micro accounts with a minimum deposit of as little as $5, and micro lots are available for trade on all accounts.

An Auto Account, which enables traders to subscribe to free and paid Trading Signals from the MQL5 Community and a HF Social account, which provides trading powered by FxStat is also on offer.

HotForex is a retail forex broker, offering attractive conditions for trading in a wide range of instruments, including Forex, Spot Metals and CFDs on commodities, indices and popular shares such as Google, Apple and Facebook.

HotForex is regulated by the St. Vincent & the Grenadines regulatory authority, the CySEC in Cyprus, and the FSC of the Republic of Mauritius under the HF Markets moniker.

XM Group

XM Group

The XM Group provides the entire suite of MetaTrader platforms and over 1300 tradeable instruments, was Founded in 2009, and is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it an average-risk for forex and CFDs trading.

XM Group’s research offering is above the industry standard, and pricing at XM Group varies by account type.

Feature

XM Group

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

57

CFDs – Total Offered

1247

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

No

XM Group is a MetaTrader-only broker and offers the standard experience, including both MT4 and MT5, iOS and Android versions of the MT4 and MT5 mobile apps come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.

XM Group is authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdon (FCA).

fx pro

FXPro

FXPro is an online broker founded which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading.  FXPro is a global broker and has a head office located in the UK.

FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

What can be traded with FXPro?

  • Over 250 instruments
  • Over 70 currency pairs

FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

FXPro Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument and the broker offers support in a very wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese.

FxPro holds an international license from the CySEC that authorizes you to provide investment services. They make sure to comply with local and EU regulations such as the Financial Instruments Markets Directive (MiFID) and the Cyprus Investment and Regulated Market Services and Activities Act of 2007.

pepperstone best broker

Pepperstone

Pepperstone is a global online broker which was founded in 2010 and offers Forex, CFDs and Social Trading.   Pepperstone is regulated and supervised by reputable organisations with a head office based in Australia.

With Pepperstone new traders will need a minimum deposit of $200 to open an account and the option is available to sign up for a demo account to familiarize themselves with the Pepperstone platform.  Pepperstone can accommodate various levels of traders whether a trader is experienced or just starting off in the trade.  Traders have the option to trade in over 100 instruments and over 70 currency pairs.

Pepperstone is one of the few brokers available that offer traders both of the MetaTrader platforms; MT4 and MT5 coupled with cTrader. Pepperstone also offer traders mobile apps for Android and iOS for the complete package.

Pepperstone benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Pepperstone allows traders to execute a minimum trade of 0.01 Lot and supports a wide range of languages including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.

Pepperstone is considered safe since it’s regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). 

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Can You Get Rich By Trading Forex? – An Honest Opinion.

All forex traders, and Yes, we do mean ALL will at some point LOSE money on some trades.  Ninety percent of traders do lose money, due to a lack of planning, training, discipline, and poor money management rules.  For anyone who hates to lose this will probably be a hard time adjusting to trading because all traders lose a trade at some point or another.

Trading forex is not meant for the unemployed or those who are low on income or are knee-deep in credit card debt or any debt for that matter.  Beginner traders should have at least $10,000 of trading capital, in minimum, that they can afford to lose.  Traders shouldn’t expect to start off with a few hundred dollars and expect to become a billionaire overnight.

Forex trading is a skill which takes time and patience to learn.

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Markets

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on the world's
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leading stocks

Still Unsure Of Which Broker Suits Your Needs As A Trader? Here Are Five Extra Best Brokers And Platforms In Algeria To Help You Out! Our ‘Silver Medal’ Picks!

ic markets

IC Markets

IC Markets is an online broker which was founded in 2007 and offers Forex, CFDs, Spread Betting, Share dealing, and Cryptocurrencies trading on offer both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.

IC Markets is a global broker and has a head office situated in Australia and new traders will need a minimum deposit of $200 to get started and a demo account is on offer for those who want to get acquainted with the IC Markets platform.  IC Markets are able to accommodate various levels of traders whether they are experienced or just beginning in the trading game.

Traders can trade in a wide variety of instruments and currency pairs

  • Over 232 instruments
  • Over 65 currency pairs

IC Markets also offer traders mobile apps for Android and iOS and two accounts types, Standard account and Raw Spread account.  IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

IC Markets is authorised and regulated by the Financial Services Authority (FSA) of Seychelles.

easyMarkets

EasyMarkets

EasyMarkets is a global, online broker which was founded in 2001 and offers traders Forex and CFDs trading.  EasyMarkets offer traders the popular MT4 forex trading platform coupled with mobile apps for Android and iOS respectively.

EasyMarkets Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

EasyMarkets Trading Accounts on Offer include Demo, Micro, Mini, Standard and Islamic but a demo account is also on offer and the minimum and maximum trade requirements will vary depending on the trader and the instrument.

EasyMarkets also offers supports a wide range of languages including English, German, Arabic, Chinese, Spanish and Polish.

EasyMarkets is regulated by CySEC and ASIC. The broker says it is in full compliance with regulatory laws which includes account segregation, digital security and KYC.” EasyMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 079/07.

Roboforex robo forex best brokers

Roboforex

Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading.  When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.

Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.

Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

Roboforex Trading benefits:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP and Islamic and all accounts support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, and much more.

RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS. 

trading212 best forex

Trading 212

Trading 212 is a global online broker which was founded in 2006 and offers trading in Stocks, Forex, Commodities and Indices trading.  With Trading 212 new traders will need a minimum deposit of $1 to start and they have the option to sign up for a demo account.

Trading 212 accommodates traders on various levels, whether it be experienced or novice.  Trading 212 is regulated and supervised by reputable organisations and have won numerous industry awards over the past 14 years that they have been in operation.

Trader can trade in over 3000 instruments and over 177 currency pairs.  Trading 212 offer traders a user-friendly custom trading platform which is also available as a browser-based web application alongside mobile apps for Android and iOS.

Trading 212 benefits include:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Trading 212 also offers traders a good selection of educational resources and offers customer support in a wide range of languages.

Trading 212 authorised and regulated by the Financial Conduct Authority (FCA).

What Are The Advantages Of Trading In Forex?

There are many excellent benefits and advantages to trading forex including:

No commissions:  No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail forex brokers are rewarded for their services through a “spread “.

No fixed lot sizes:  In the futures markets, lot or contract sizes are determined by the exchanges. In spot forex, traders will determine their own lot, or position size. 

Low transaction costs:  The retail transaction cost is typically a smaller amount than 0.1% under normal market conditions. For larger transactions, the spread could be as low as 0.07%. This, of course will be dependent on a traders’ leverage.

And Much More!

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In Conclusion

Remember a trusted broker plays a vital role in the success of any trader. Trading in the financial markets with Algerian Brokers can be difficult, even for the pro’s, so choosing a trusted regulated broker should be at the top of any trader’s “must-have” list.  Apart from the educational and other resources made available online, another important factor for Algerian traders to consider when looking for Algerian Brokers is the platform and tools on offer. Always take the time to find a broker with a great track record and offers stellar customer service.

EXNESS is this month's #1 Broker