The 5 best Forex Brokers and platforms in Bosnia and Herzegovina – Comparison and reviews

Forex trade can seem quite challenging to start, primarily if you have heard nothing about it before. To define, forex is simply an online trade that involves the exchange of currencies. Forex trade is one of the biggest trades in the world today.

This article will get to know the best five brokers to trade within Bosnia and Herzegovina. You will learn how to trade forex as a beginner. You will see how you can ensure security for yourself as a trader. 

See the list of the best Forex Brokers in Bosnia and Herzegovina:

Forex Broker:
Review:
REgulation:
Spreads:
Assets:
Advantages:
Open account:
1. Capital.com
Capital.com logo
CySEC, FCA, ASIC
Starting 0.0 pips variable & no commissions
3,500+
(70+ currency pairs)
+ Best platform
+ TradingView charts
+ MT4
+ Best education
+ Personal support
Live-account from $ 20(Risk warning: 79% of retail CFD accounts lose money)
2. BlackBull Markets
BlackBull Markets logo
FSPR, FSCL
Starting 0.0 pips & negotiable commission per 1 lot
500+
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 79% of retail CFD accounts lose money)
3. RoboForex
RoboForex logo
IFSC
Starting 0.0 pips & $ 4.0 commission per 1 lot traded
9,000+
(50+ currency pairs)
+ Huge variety
+ Micro accounts
+ Free bonus program
+ Leverage up to 1:2000
+ ECN accounts
+ MT4/MT5/cTrader
Live-account from $ 10(Risk warning: 79% of retail CFD accounts lose money)
4. Pepperstone
FCA, ASIC, DSFA, SCB
Starting 0.0 pips & $ 3.5 commission per 1 lot
1,000+
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)
5. IQ Option
IQ Option logo
CySEC
Starting 0.1 pips variable & no commission
500+
(25+ currency pairs)
+ Easy to use
+ Binary Trading
+ Support 24/7
+ Min. Deposit 10$
+ Lowest spreads on main trading hours
Live-account from $ 10(Risk warning: Your capital might be at risk.)

The five best forex brokers include the following.

  1. Capital.com
  2. BlackBull Markets
  3. RoboForex
  4. Pepperstone
  5. IQ Option

1. Capital.com

The official website of the forex broker Capital.com

Capital.com began in 2016. The broker company was established to provide various tradable assets to traders around the globe. Regulatory bodies regulate them, including FCA, ASIC, BaFin, and CySEC. The bodies make Capital.com a secure place to trade forex.

The platform is formed with three account types. These are the demo accounts used primarily to get used to the platform and practice any strategy you want to try. The standard account starts with a minimum deposit of $30 with no commission. Then a Plus account begins with a minimum deposit of $3000 with no commission.

Capital.com provides traders with top-notch educational materials in literature, courses, and videos. There are even occasional webinars that are organized. All of these provide traders with valuable information about what forex trade is all about. Traders can also learn one or two strategies from professional guest speakers in the webinars.

The trader platform is MetaTrader-based. Traders can easily navigate through the platform. The platform allows traders to perform multiple tasks. Opening an account is also easy as the process is all digital. 

The platform is available for both phone and web users. This makes the trading experience flexible for their clients. 

Capital.com - CFD trading on various markets

Merits of Capital.com 

  • Opening an account is digitally-based
  • Educational resources are sufficient on Capital.com
  • Traders can use the demo account for a long time
  • Depositing money is free

Demerits of Capital.com 

  • The initial deposit on the Plus account is high
  • MT5 is not available on the platform 

(Risk warning: 79% of retail CFD accounts lose money)

2. BlackBull Markets

The official website of the Forex Broker BlackBull Markets

BlackBull Markets is a well-known company that does forex. It is known to have a fast server speed. There are pretty enough trading instruments that BlackBull Markets offers. This means that traders have some instruments for trading with on the platform. The broker was established in 2014 in New Zealand. It is under the regulation of the FMA and FSA.

The company is well-known for providing reliable market resources to its clients. BlackBull does not offer their clients educational resources, but their market resource is top-notch. Traders can rely on it to know how the market competition is on the platform. 

BlackBull Markets has three account types that traders can use. The account types include the demo account, the standard account, and the ECN prime account. The demo account is present for both standard and ECN prime account owners. Traders can use the demo account to practice how to trade forex before using their real account. 

The Standard account and ECN Prime account are pretty different in some ways. The spreads are other such that the ECN Prime offers more competition than the Standard account. The initial deposit of both accounts is separate, with the ECN Prime higher than the Standard account.

Talking about the server, traders can make transactions as fast as four milliseconds. The server is connected to one of the fastest servers in Europe – the WallStreet Equinix server. BlackBull Markets is MetaTrader-based. It has both MT4 and MT5 available on the broker platform. This makes the technology the platform works on to be very much superior. 

Mobile applications and desktop web versions of the platform are available for traders. Trading is much more flexible, thanks to this. There is also the same trading experience, whether it is a phone you use or the web.

Benefits of BlackBull Markets

Merits of BlackBull Markets 

  • MT4 and MT5 are both available
  • Reliable market resources are provided
  • Transactions are carried out at a speed
  • Traders can manipulate the look of the chart to suit them

Demerits of BlackBull Markets 

  • Withdrawal of funds will attract an amount  
  • There are no educational resources for traders

(Risk Warning: Your capital can be at risk)

3. RoboForex

The official website of the Forex Broker RoboForex

RoboForex started in 2009, and it remains popular to date. The brokerage company is regulated by a financial regulator in Belize (IFSC). These regulations make RoboForex a trusted forex company. It has over two million traders around the world today.

RoboForex provides both educational resources and Market resources. The two are considered top-notch and reliable for traders. The educational resources will help you as a trader know what forex is all about, how to trade forex, and the terminologies used in forex. The market resources are helpful because they help in allowing you to plan your trading position when the primary market opens for trade.

Not only is MetaTrader available on the broker platform. Traders have access to what is called the cTrader platform. The cTrader is better than the MetaTrader because it is technologically improved. The MetaTrader platform that RoboForex offers (MT4 and 5) is excellent, but cTrader offers more, which is why it is mainly used. 

RoboForex offers a demo account to traders. The demo account is valuable, and traders can use it on and on again. RoboForex has different other account types that are live accounts. These accounts offer traders an initial deposit of just $10. The only account that is different is the R StocksTrader account. Traders’ initial deposit for this one is $100

The desktop version and mobile application are available for traders. The good thing is that you get the same trading experience on any device you use to trade.

RoboForex cTrader overview and features

Merits of RoboForex 

  • The minimum deposit of $10
  • It has the MT4, MT5, and cTrader platforms 
  • RoboForex does not have withdrawal fees
  • Both educational and market resources are reliable

Demerits of RoboForex 

  • Customer support is not always available
  • It has high trading fees

(Risk Warning: Your capital can be at risk)

4. Pepperstone

The official website of the Forex Broker Pepperstone

Pepper stone was established in 2010 in Australia. The broker is the regulation of the ASIC in Australia. The Australian Securities and Investment Commission is the main regulatory body that supervises the brokerage company. The company has other regulatory institutions from Germany (BaFin), the United Kingdom (FCA, SCB), Cyprus (CySEC), and Dubai.

Pepperstone’s customer support is excellent. It has recently won the broker company with the best customer support. It also offers instruments to clients from Stocks, Commodities, and FX pairs. Traders can have various choices when choosing the instrument they want to trade on the broker platform.

It is easy to open an account with Peppersone. The MT4 and MT5 platforms are interactive. The good thing about Pepperstone’s MetaTrader platform is that it has plugins. The plugins will prove very useful after opening an account with them if you are new to forex trading. The plugin has a bot that helps traders better strategize trading positions.

Pepperstone offers three account types to traders. The demo account, the standard account, and the razor account. The demo account is just like any other demo account. However, users will be unable to access the demo account after a month. 

The standard account and razor account are different. The standard account has an initial deposit of $200, a spread of 1.1 pip, and no commission. While the razor account users enjoy a more competitive spread that starts from 0 pip. Razor account owners make an initial deposit of $2000, but they do have a commission.

Pepperstone Razor Account vs. Standard Account

Merits of Pepperstone

  • Plugins have a bot that can help traders.
  • The platform provides impressive educational courses
  • The customer support is reliable
  • Razor account owners enjoy a more competitive spread

Demerits of Pepperstone

  • The demo account closes after a month of joining the platform
  • Limited assets on Pepperstone

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

5. IQ Option

The official website of the forex broker IQ Option

IQ Option started in 2013 with its Headquarters in Cyprus. The regulatory body is also in Cyprus – the Cyprus Securities and Exchange Commission (CySEC). This makes IQ Option to be a broker that is trusted because of the CySEC that regulates it.

The broker is on both phones and desktops. Traders can open and close trades with more than one device instead of being restricted to one device.

Opening an account on IQ Option is very easy, also because it is completely digitalized. After registering, traders can begin the demo account or the live account. The demo account has $10000 that traders can use to train themselves before they start trading with their live accounts. The live account has two account types – the Standard account and the VIP account.

The standard account traders can deposit  $10, the least amount, into their account. Traders can trade for as low as $1. The spread of the standard account is different from the VIP account. The spread is less competitive, and traders do not get any commission at the end of a trade.

 For traders with a VIP account, the initial deposit starts from $1000. The forex spread starts from 0 very tight pip. Traders get a percentage commission at every trade. Professionals usually use the account because of how tight the spread is and competitive the market is.

IQ Option offers both educational and market resources to traders on the platform. The educational resources help traders know all they need to know about forex trading, and the market resources provide traders tips on how the primary market competition is. The broker platform has forums and occasional organization of interactive and informative webinars. 

IQ-Option-trading-platform

Merits of IQ Option

  • Standard account owners enjoy deposits from $10
  • The broker gives educational resources and webinars
  • Registration is accessible on the platform
  • Depositing money into your account will not attract any fee

Demerits of IQ Option

  • Withdrawal of money to your bank account takes time
  • US clients cannot trade on IQ Option. 

(Risk warning: Your capital might be at risk.)

What are the financial regulations in Bosnia and Herzegovina?

The financial system in Bosnia and Herzegovina is under two administrative bodies: the Federation of BiH and Republika of Srpska. As far as the law is concerned, these two bodies are responsible for regulating all financial institutions in the country.

The Federation of BiH and Republika of Srpska is responsible for licensing the businesses and financial institutions in the country. Any company licensed by these two bodies shows that they are legal. If an institution lacks licensing from them, it does not offer any form of legality.

The banks in the country go through a supervisory process known as the Internal Capital Adequacy Assessment Process known (ICAAP). Every bank must go through this process.

(Risk warning: 79% of retail CFD accounts lose money)

Security for traders from Bosnia and Herzegovina

Trading forex in Bosnia and Herzegovina might seem like you, as a trader, do not have any security. This is major because the country does not have any law covering forex trading. There is also no regulatory body that supervises the existence of brokers in the country.

If you want to trade forex in the country, it is best to do so with international forex companies. These companies have regulations from international financial institutions that ensure that they provide good trading conditions. 

As a forex trader in Bosnia and Herzegovina, please trade with brokerage companies that are internationally licensed.

Is it legal to trade Forex in Bosnia and Herzegovina?

Flag of Bosnia and Herzegovina

Forex is very legal to trade in Bosnia and Herzegovina. There is no legal restriction on trading forex or how much one should deposit in their forex account. Citizens of the country are encouraged to trade forex because it improves the exchange of currencies, which is a method of trade in the country.

If you trade forex in the country, make sure that it is internationally licensed. This proves that it is legal to trade on the platform. These licensing organizations properly govern international regulated forex brokers.

How to trade Forex in Bosnia and Herzegovina – Tutorial

Open account for Bosnia and Herzegovina trader

If you want to start forex trading, you will need to open an account as a trader in your country. Opening an account is digital, so it is easy to start an account on broker platforms. The broker will require that you show proof of identity and residency. The proof of identity can be your National ID card or driver’s license. At the same time, the proof of residence can be a utility bill.

Start with a demo account or real account

After registration, the next thing to do is to start trading. You can do so with either your demo account or your real account. As a new trader, it is advised that you start trading with the demo account. A demo account helps you get familiar with the forex platform and how to plan and strategize. 

Trading with your real account will require you to deposit money before starting trading.

Deposit money

If you have decided to start using your real account, you will need to deposit an amount. There is a minimum deposit on broker platforms that traders can make. The traders have to select the payment method to use to fund their accounts. Once this is done, they can begin trading.

Notice:

The payment methods are depending on your country of residence. Forex Brokers are offering all kinds of methods separately for each country.

Use of analysis and strategies

Momentum indicators in forex trading

To make a profit in forex, you must-have analysis and strategies while trading. Having a strategy as a forex trader helps you know how you can trade much better by monitoring market movements and changes.

These strategies include the following:

Scalping 

Scalping is a forex technique whereby traders hold a position for a brief period. The trader opens more than one trade on the chart to make a profit in the end. However, the gain might not be so much. 

Day trading

Day traders stay in a single position for a whole day and maintain their position for a day. This helps them to know the market changes in a day.

Position trading

Position trading resembles investment because it involves a long-term trading position. The trader will maintain the same position for weeks and sometimes for years.

Make profit

To make a profit in forex, a trader must be in a good position at the end of the market trade. Traders who make a profit usually have a strategy that they use while taking a trading position. 

(Risk warning: 79% of retail CFD accounts lose money)

Conclusion: The best Forex Brokers are available in Bosnia and Herzegovina

As said initially, it might be challenging to know how to start trading forex. But once you know what forex is and know if it is suitable for your kind of person, it becomes easier. Broker platforms provide you as a trader with different assets that you can use to exchange currencies. But at times, choosing the best broker can be a problem too.

Our best five brokers are licensed. They are internationally recognized by regulatory organizations in the UK, Germany, Cyprus, Kenya, and other countries. The brokers are well trusted and cannot do anything that will act against the law guiding their existence. Trading forex with licensed brokers is the best form of security for you as a trader. 

FAQ – The most asked questions about Forex Broker Bosnia and Herzegovina:

How can I find the best forex broker in Bosnia and Herzegovina?

Selecting the perfect forex broker can be tough, given the huge range of options accessible worldwide. Investigating your subject thoroughly and in-depth is the first step. The last thing you want is a company that doesn’t understand your needs. 

You should be free to spend your hard-earned money any way you see fit, so you must be well informed before making a choice. To compare forex brokers, consider the following:

1. Check for a valid license and regulation.
2. Trustworthiness of your broker.
3. Trading Costs.
4. Check for open trading platforms.
5. Check for the tools they offer and any added perks.
6. Check for deposit and withdrawal policies. 

What are the top trading platforms for forex brokers in Bosnia and Herzegovina?

The top trading platforms in Bosnia and Herzegovina are listed below.

Bosnia and Herzegovina’s top broker, Interactive Brokers, comes first. 
Second place goes to AvaTrade. Excellent CFD broker for trading on the go.
The third place goes to Capital.com. Free Real Stocks without Commission. Low Forex CFD Charges
The fourth position belongs to FP Markets. Broker for forex and CFDs.
OANDA concludes the list. It is optimum for CFDs and forex.

Last Updated on March 2, 2023 by Arkady Müller