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Top Forex Brokers in Egypt

By Huzefa Hamid
Reviewer Adam Lemon
Fact-checker DailyForex.com Team

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

Forex trading continues to rise in popularity in Egypt, with the concept of currency exchange remains deeply anchored within the culture of this large state within the Middle East and Africa. Below I present a shortlist of the most competitive Forex brokers operating in Egypt and a guide for beginner Forex traders in Egypt in choosing a broker and getting started.

1
5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Swap-free Islamic accounts on MT4, excluding exotic currency pairs.
A balanced asset selection, including cryptocurrencies.
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Arabic website & swap-free Islamic account.
Quality beginner education & 24/7 multi-lingual customer support.
3
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Swap-free Islamic trading account & website in Arabic.
A well-balanced asset selection, including options, ETFs, and cryptocurrencies.
4
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Commission-free spreads from 0.8 pips or $8.00 per standard lot
Proprietary copy trading service with an active community
5
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
16 payment processors in 16+ currencies, including several cryptocurrencies
High-quality research and educational content for beginners & 24/5 customer support.

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • FP Markets, ECN trading with leverage up to 1:500.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • XM, Exception range of assets + negative balance protection.
  • ACY Securities, Swap-free trading with the MT5 trading platform.

Best Egypt Brokers Comparison

Regulators
CMA, CySEC, FCA, FSC Mauritius, FSCAASIC, CMA, CySEC, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDASIC, CySEC, DFSA, FSC BelizeASIC
Year Established
20112005200620092011
Execution Type(s)
ECN/STP, Market MakerECN/STPMarket MakerMarket MakerECN/STP, Market Maker
Minimum Deposit
$200
$100
$100
$5
$50
Average Trading Cost EUR/USD
0.1 pips1.2 pips0.9 pips0.1 pips1.1 pips ($11.00)
Average Trading Cost GBP/USD
0.2 pips1.4 pips1.5 pips0.2 pips1.1 pips ($11.00)
Average Trading Cost Gold
$0.18 $0.16$0.29 $0.19 $0.15
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedOther, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5
Islamic Account
Negative Balance Protection
N/AN/A

FXTM

In Summary Best all-around broker with high floating leverage and fast execution

FXTM maintains a cutting-edge price improvement technology, lowering fees by an average of $3.00 per lot, applicable on 97.18% of all trades. Deep liquidity delivers an average execution time of 0.071 seconds. VPS hosting provides 24/5 low-latency Forex trading. The Advantage account offers raw spreads of 0.0 pips with a commission of $7.00 per 1.0 standard lot on many assets. It places FXTM among the best Forex brokers in Egypt.

Traders benefit from Trading Central, the FX Blue upgrade package, and its in-house Pivot Point Strategy plugin. Mobile and copy traders get the proprietary FXTM Trader and FXTM Invest.

Read more on FXTM »
5.0/5 in this category

Pros & Cons

  • Excellent commission-based Forex pricing environment and transparency
  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
  • Quality market research and educational content for beginner traders
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities

FP Markets

In Summary ECN trading with leverage up to 1:500

I consider FP Markets among the best Forex brokers in Egypt as it upgrades MT4/MT5 with 12 plugins, Trading Central, and Autochartist. It also supports cryptocurrency deposits and withdrawals, has a reasonable $100 minimum deposit requirement, and offers a well-balanced asset selection, including cryptocurrencies, ETFs, and bonds.

FP Markets is also an excellent choice for copy traders. Besides the in-house FP Markets Copy Trading solution, traders can use fee-based Signal Start, Myfxbook Autotrade, and the embedded MT4/MT5/cTrader copy trading services. FP Markets trading fees feature raw spreads from 0.0 pips for a $6.00 commission per 1.0 round lot.

Read more on FP Markets »
4.8/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade ranks among the best Forex brokers in Egypt on my listing as it offers industry-leading education via the spun-out Ava Academy and on-site content. Beginners also benefit from the MT4 Guardian Angel plugin and the fee-based Ava Protect insurance policy protecting against trading losses. Besides the proprietary WebTrader and AvaTradeGO mobile app, with embedded Trading Central services, AvaTrade has Ava Option and Ava Social. MT4/MT5 are also available.

Reasonable commission-free Forex costs start from 0.9 pips or $9.00 per lot, and AvaTrade has a high-paying partnership program with 70,000+ registered partners from 150+ countries and $250,000,000+ commission payouts.

Read more on AvaTrade »
4.7/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

XM

In Summary Exception range of assets + negative balance protection

I rank XM among the best Forex brokers for beginners as it provides exceptional education, with the live education room available Monday through Friday between 06:00 and 15:00 GMT at its core. Beginners also receive actionable trading recommendations, and the $5 minimum deposit ensures accessibility to all traders, boosted by deposit bonuses.

XM rewards active traders with a four-tier loyalty program and supports algorithmic traders with VPS hosting. The well-balanced asset selection exceeds 1,000 assets, and the proprietary copy trading service pays signal providers up to 50% profit share. Swap-free trading and low trading fees ensure a competitive edge.

Read more on XM »
4.6/5 in this category

Pros & Cons

  • Outstanding trading tools and loyalty program
  • Low minimum deposit, high leverage*, and competitive trading cost
  • Excellent research and education
  • Trustworthy and transparent with generous bonuses and incentives
  • Inactivity fee

ACY Securities

In Summary Swap-free trading with the MT5 trading platform

ACY Securities upgrades MT4/MT5 with Capitalise AI and 15 quality plugins. Capitalise AI supports algorithmic trading in a code-free environment and is the most advanced trading tool available, making ACY Securities one of the best Forex brokers. Low-latency 24/5 market access exists via VPS hosting. Copy traders may use the embedded MT4/MT5 services or diversify via Signal Start and SoFinX.

The commission-based trading accounts offer competitive trading fees with raw spreads from 0.0 pips for a commission of $6.00 for ProZero and $5.00 for Bespoke. Traders also benefit from fast order execution under 30ms via 46 liquidity providers.

Read more on ACY Securities »
4.5/5 in this category

Pros & Cons

  • Large repository of daily analysis and educational content
  • Low spreads starting at 0 pips in the Spread Zero account
  • 16 payment processors, including cryptocurrencies
  • Competitive trading fees in its commission-based accounts
  • Only 1 regulator

Is Forex Trading Legal in Egypt?

Forex trading is legal in Egypt, and the Financial Regulatory Authority (FRA) regulates the non-banking financial sector, including capital markets, derivative markets, and commodities. Despite the growing popularity of Forex trading among Egyptians, Egypt does not have any domestic Forex brokers. The retail sector relies on well-known international brokers, and there are no restrictions on Egyptian Forex traders opening accounts.

Egypt does not have a well-established Forex market, and the FRA is a relatively young regulator that became operational in 2009 amid reforms following the global fiscal crisis of 2008. The Central Bank of Egypt, responsible for the Egyptian Pound, devalued the currency twice since the FRA exists, providing the regulator with essential experience to navigate a currency crisis.

Egyptian resident Forex traders should always trade with a regulated Forex broker with a clean regulatory history to avoid bad actors attempting to scam beginner traders who cannot spot a questionable broker.

What Is the Best Trading App in Egypt?

While individual requirements will value certain aspects over others, the best trading app in Egypt will feature identical core attributes and services.

The best trading app in Egypt will offer:

  • Adequate leverage
  • Fast order execution, eliminating requotes, resulting in improved pricing, and increasing the profit potential
  • Deep liquidity, allowing traders to transact using the best available market prices
  • Low trading costs, which directly impact profits and dictate which trading strategies a Forex broker supports
  • Volume-based rebate programs present a core service for high-volume traders and lower final trading costs
  • Algorithmic trading, the fastest-growing Forex segment, with an estimated 80%+ of all daily transactions placed by algorithms
  • Copy trading functions, the second-most sought-after service, especially by millennial and GenZ traders who prefer copying multiple signal providers from mobile apps while conducting capital allocations

How to Open a Forex Account in Egypt

All Forex brokers listed here provide a hassle-free online application process with minimal data collection. Egyptian resident Forex traders should be able to complete it in less than 20 seconds. Account verification remains mandatory, and if all necessary documents are available, it usually takes up to one business day to be processed and accepted.

Egyptian Forex traders can open a verified Forex trading account in four steps:

1. Select one of the best Forex brokers operating in Egypt from our listing matching your individual needs.

2. Get access to the broker’s back office by filling out the online application form.

3. Pass mandatory account verification to satisfy regulatory stipulated AML/KYC requirements by uploading a copy of a government-issued ID and one proof of residency document.

4. Fund a trading account with at least the minimum deposit required by the Forex broker completes the account registration. Traders should consider at least $500 as an initial deposit, even if the minimum deposit is lower.

What Is the Minimum Deposit with Egypt Forex Brokers?

The minimum deposit question is hotly debated because the Forex market has lower capital requirements than other asset classes, due to its relatively high leverage. For example, a $100 portfolio can control $50,000 in assets if leveraged 1:500 for major currency pairs. Sufficient capital is required to effectively manage a Forex trading account, which is where the confusion can set in for beginners.

While the minimum deposit requirements from the best Forex brokers in Egypt range between $50 and $200, such amounts are usually too small to trade safely effectively. Trading with underfunded accounts is a common beginner trader error. It can lead to excessive risk-taking or yields small profits that do not warrant the effort necessary to achieve them.

Forex Market Hours in Egypt

While the Forex market operates 24/5, some periods offer more liquidity, which results in tighter spreads, and, therefore, lower trading costs.

The best times to trade Forex in Egypt are:

  • 2 a.m. - 3 a.m. (First hour of the Tokyo trading session)
  • 7 a.m. - 8 a.m. (Last hour of the Sydney trading session)
  • 9 a.m. - 11 a.m. (The first two hours of the London trading session and the last hour of the Tokyo trading session)
  • 4 p.m. - 6 p.m. (First two hours of the New York trading session and the last two hours of the London trading session)
  • 8 p.m. - 11 p.m. (The last two hours of the New York trading session and the first hour of the Sydney trading session)

Most traders will miss the first period above, may start their trading day during the second period, and can actively participate during the third and fourth, which are prime Forex trading periods. The fifth period can also provide Egyptian Forex traders with attractive opportunities.

Bottom Line

Forex trading in Egypt is legal, and the retail sector relies on well-trusted, regulated international Forex brokers, due to the lack of competitive domestic offerings. Education is the first step for beginners before opening a Forex trading account.

Risk management and trading psychology are two of the most misunderstood and ignored elements of Forex trading education. The absence of the former can result in massive trading loss, not the use of leverage, as many market participants, including regulators, claim. The latter can also contribute to avoidable trading losses.

Egyptian Forex traders seeking brokers offering Islamic trading accounts should carefully examine the conditions of such accounts when offered, as some brokers apply unfair conditions to compensate for the loss of overnight swap fees.

You might also be interested in reviewing the below top brokers:

FAQs

Is Forex allowed in Egypt?

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Forex trading is allowed, and most retail Forex traders trade with international brokers.

Do Forex traders pay tax in Egypt?

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Egyptian Forex traders must consult a licensed professional to inquire about taxes on Forex profits to ensure compliance with local laws and to pay any tax due appropriately.

How do I buy stock in Egypt?

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Stock trading in Egypt is available via domestic brokerages, regulated by the FRA, as international brokers do not cover the Egyptian equity sector.

What are the best online brokers for beginners in Egypt?

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The best online brokers for beginners in Egypt will offer in-depth educational courses, market research, and actionable trading ideas.

Huzefa Hamid
About Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.