The 5 best Forex Brokers in Lebanon – Comparisons and reviews

Choosing a forex broker can be daunting, especially if you reside in Lebanon, where the activity is permitted with local and foreign brokers.

See the list of the best Forex Brokers in Lebanon:

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
6,000+
(70+ currency pairs)
+ Best platform
+ TradingView charts
+ MT4
+ Leverage up to 1:500
+ 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.)

We have reviewed several forex brokerage services, investigating their trading conditions and environment. This article will introduce the industry’s best brokers for Lebanese traders.

5 best forex brokers for Lebanese traders:

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

We present a summary of our findings below:

1. Capital.com

The official website of the forex broker Capital.com

Capital.com is a famous CFD broker that started operating in 2016. Capital.com is based in the United Kingdom and has offices in Belarus, Cyprus, Gibraltar, Seychelles, and other parts of Europe.

The broker is a trusted name among forex traders and operates with several top-tier licenses. Lebanese traders can access over 6000 CFD markets on its platforms, MT4, and the Capital.com app. The products available for trading are forex pairs, indices, commodities, stocks, and cryptocurrencies. 

Social trading services are included on its platforms through its partnership with Tradingview. Inexperienced and experienced traders can share information and improve their skills in the forex community. Its trading services are also available on mobile. However, Islamic accounts are not offered on its platforms. 

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

2. BlackBull Markets 

The official website of the Forex Broker BlackBull Markets

Not available in Lebanon.

3. RoboForex

The official website of the Forex Broker RoboForex
  • Regulators: IFSC
  • Minimum deposit: $10
  • Fees – 0.1 pip average spread on ECN account. $2 commission. Withdrawal fees apply.
  • Free demo – Yes
  • Support – 24 hours on weekdays.
  • Payment methods – MasterCard, bank transfer, and Visa.

RoboForex is a popular online forex dealer that started operations in 2009. RoboForex is based in Belize and regulated by the country’s International Financial Service Commission. The broker is also registered with CySEC and has offices in Cyprus and the United Kingdom. 

RoboForex offers Lebanese traders a variety of choices in tradable products, account types, and platforms. Traders of all levels find its environment conducive. The platforms offered are MT4, MT5, cTrader, and RTrader. More than 12000 financial instruments are available, including forex pairs, CFDs, indices, energies, and metals.

RoboForex RTrader is designed for stock trading, but traders can access forex pairs at low fees and high-speed executions. Social trading and Islamic accounts are also available. Traders can access a free demo where they trade with fake cash. Or they can opt for a cent account that allows them to test the platform with minimal financial risk.

The only fault with this broker is the withdrawal fees charged when moving funds out. The service is free with many reputable brokers. But RoboForex withdrawal processing time is comparably faster. 

(Risk Warning: Your capital can be at risk)

4. Pepperstone 

The official website of the Forex Broker Pepperstone
  • Regulators: CySEC, DFSA, FCA, ASIC
  • Minimum deposit: $0 ($200 recommended)
  • Fees – 0.1 pip average spread on ECN (razor) account. $3 commission. 
  • Free demo – Yes
  • Support – 24 hours on weekdays.
  • Payment methods – Visa, bank transfer, and MasterCard.

Pepperstone is an international online broker with its headquarters in Australia. Pepperstone came into the market in 2010 and now has offices in Dubai, the United Kingdom, Kenya, Germany, and Cyprus. The broker is regulated in these regions and other places.

Pepperstone provides superfast order execution on its ECN account and allows access to various markets, including CFDs, forex, commodities, shares, and ETFs. Traders can trade these assets through the MT4, MT5, and cTrader. The platforms come with various added features that fully support automated trading. Social and copy trading is also provided. 

Pepperstone education and research material are among the best and richest. Traders can find much valuable information to help them master forex trading and increase their knowledge and skills. However, Pepperstone does not provide a way for the trader to track their learning progress. Other platforms offer quizzes to help with this.

(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
  • Regulators: CySEC
  • Minimum deposit: $10
  • Fees – 0.8 pips on average for major crosses. $0 commission charge.
  • Free demo – Yes
  • Support – 24 hours on weekdays.
  • Payment methods – Visa, WebMoney, bank transfer, and MasterCard.  

IQ Option is an online forex and binary options (only for professional traders and outside EAA countries) broker. The company started operations as a binary options dealer in 2013. IQ Option provides access to trade other assets now, including forex pairs, digital options, index CFDs, commodities, and ETFs.

IQ Option is famous among Lebanese traders for competitive fees, unique trading platform, Islamic account offering, and good support service. The broker provides services on its proprietary platform, the IQ Option app. The platform is easy to navigate and comes with useful features for successful trading. Video lessons are included for beginners.

Traders can attain VIP status when they deposit $1900 for trading. This account type gives access to exclusive services, including lower fees. However, all trading activities take place on the broker’s app. The MetaTrader platforms, with their competitive tools, are not offered.

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

What are the financial regulations in Lebanon?

Lebanon is a Middle-eastern country located in Asian western regions. Tourism used to be a major part of its economy. 

The great social unrest in the nearby countries changed this, leading many investors to seek other sources. One of these sources is a financial market investment, including forex trading.

The Banque du Liban (BDL), the Lebanese Central Bank, is the country’s head finance regulatory body. The bank is responsible for stabilizing the Lebanese economy. BDL also oversees the country’s finance industry, including banks, insurance, capital markets, etc.

Banque du Liban logo

However, forex trading is still hardly regulated by the body. Although, the bank provides some protection to Lebanese Muslim traders dealing with brokers within the country’s borders.

Forex brokers seeking to operate in Lebanon must meet certain requirements and provisions for Sharia-compliant services before getting a license. Lebanese traders can use foreign brokerage services if they choose. But BDL regulations only offer investor protection to mainly Muslim traders dealing with domestic BDL-licensed brokers.

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

Security for traders in Lebanon

The Lebanese are free to choose a broker within or outside the country. The BDL does not impose any restrictions regarding this.

Muslim traders seeking complete Sharia-compliant accounts should find a local BDL-licensed broker or a regulated foreign one offering an Islamic account

If you are not seeking a Sharia-compliant trading service, a reputable broker holding a globally-recognized license is safe. Brokers with a license from Europe, the United Kingdom, or Australia are safe to deal with.

The trader should confirm these licenses and ensure they are valid before signing up with the broker. If you’re into high leverage trading, choosing a broker with negative balance protection is safer.

Is it legal to trade Forex in Lebanon?

flag of lebanon

Yes, forex trading is a legal activity in Lebanon. The regulatory authority makes the environment safe for Muslim traders if they choose an authorized broker within the country. Christians and other non-Muslims are free to deal with regulated brokers outside Lebanon.

How to trade Forex in Lebanon 

The trader must prepare these three requirements before starting:

  • Quality internet service
  • A smart device
  • A trusted broker

A smart device connected to good internet service is the number requirement. A smartphone, tablet, or laptop will do. The internet connection must be stable, without frequent disruptions that can cause the trader to lose money.

The trader must also choose a suitable and trustworthy broker. Profitable forex trading partly depends on the broker you choose. We will show you how to find one below.

Identifying a credible forex broker:

  • Regulations
BlackBull Markets regulation

At first glance, a broker’s credibility is based on the license with which they operate. Therefore, before investigating the broker, their license is first considered. Ensure the broker operates with one or more acclaimed regulators in top forex jurisdictions. 

  • Spreads and other fees
BlackBull Markets account types

A credible broker ensures the trading expenses on its platform stay competitive. The trader should check the market prices, including spreads, commissions, swap fees, non-trading fees, etc. They should compare these with their chosen broker’s fees to confirm the trading costs are not over the top. High trading costs are not good for forex trading and can quickly discourage the customer. 

  • Demo account 
Opening a demo account with BlackBull Markets

A trustworthy broker provides the means to test its services through a free demo account. The demo must come with sufficient virtual money to conduct many test trades. Free demo account access should last at least one month. Many reputable brokers allow the trader requests more funds if they exhaust the balance before it expires. 

  • Deposit and withdrawal methods
BlackBull Markets deposit

Look for brokers who make deposits and withdrawals process easy and fast for traders. These are licensed brokers providing popular payment methods accessible in your location. The popular payment options allow you to fund the trading account and withdraw profits without hassle. You enjoy a smooth trading experience with such service. 

  • Support service 
BlackBull Markets - Customer service and live chat

Credible brokers ensure that customer service is always available during trading hours. This means 24 hours accessible customer service on weekdays. Many reputable brokers offer multiple language support. It is even better if the broker provides customer support in Arabic. 

The broker must meet all these requirements to be worth considering. Other requirements will be based on your trading style and objectives.

Use the steps below to trade forex:

1. Open account for Lebanese traders

Registering an account with BlackBull Markets

Clicking on the broker’s website will take you Lebanese-specific page with customized services for traders from that region. The page might load in Arabic if the broker supports the language service. 

Click on the create account button, which should be on bold display at the top right or middle of the page. The form that appears will be brief, requiring very little information at this stage.

Type in the requested details. This should be your email address and perhaps your full name and phone number. Once you key in these details and click submit, the broker automatically sends an authentication link to the email you entered. 

Open your inbox and click on that link to authenticate the email and continue the registration process. Be prepared to scan and send a government-issued ID card and proof of address to complete the signup.

2. Start with a demo or real account 

Opening a demo account with BlackBull Markets

The next step is using the broker’s free demo to practice trading or test its platform. As we said, the demo usually comes with enough funds to conduct several test transactions. 

Inexperienced traders should use the opportunity to gain some trading experience before starting. The demo is also useful to experienced traders for checking out the broker’s offerings and environment. Many traders use demo accounts to test trading strategies before using them in live trading. 

3. Deposit money to trade 

BlackBull Markets payment methods

After the test comes real trading on a live account. You need to deposit money for this. As we mentioned, the broker should provide several simple payment methods to make this as easy and quick as possible. 

Click on the fund manager tab on the platform to access these payment options. The dropdown menu should contain the deposit tab. Select that, and all the payment methods will appear.

Choose your preferred method and follow the rest of the instructions. If you encounter any problems, a service rep should be on hand to help out.

Notice:

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

4. Use analysis and strategies 

MetaTrader 4 analysis
MetaTrader 4 analysis

After funding the trading account, do not go straight to trading. First, you should analyze the market and devise the perfect strategy for the currency pairs you wish to trade.

Market analysis is crucial to give you insight into the asset’s price. The knowledge you acquire will help you make the best trading decisions. The analysis also lets you know the most suitable forex strategies for your asset.

The three important forex analyses are:

  • Technical analysis 
  • Fundamental analysis 
  • Sentiment analysis 

Technical analysis is more commonly used in forex trading. It examines the asset’s historical prices on the forex chart with the aim of spotting patterns. These patterns often indicate BUY and SELL opportunities for the trader. Brokers’ trading platforms usually come with a wide range of tools that help in this analysis. These include charts, indicators, trade signals, etc. New traders need to understand their specific uses and how to interpret the triggers provided by these tools.

Fundamental analysis is equally essential and popular in forex trading. It involves studying the economic elements that directly influence the currencies’ values. A nation’s exchange rate can increase or decrease according to its economy. The economic factors affecting the foreign exchange rate are interest rate, inflation rate, gross domestic product (GDP), etc. The trader must understand how these factors lead to the rise or fall in the asset’s price. That way, they can accurately predict price directions during trading.

Sentiment analysis examines price movements to ascertain the market participants’ sentiments. For instance, a strong uptrend condition indicates the market players’ sentiment is against falling prices for now, but not for too long. Several tools are embedded in trading platforms to help with this analysis. A notable one is the RSI indicator, which helps the trader identify overbought and oversold price levels.

These market analyses are important to trading the forex market successfully. They help you determine the best strategy to use.

Common forex trading strategies:

  • Candlestick strategy 
Trading strong wicks candlestick patterns

Most price charts show asset price movements using candlesticks. The trader examines these candlesticks to see price highs, lows, opening, and closing. These details help the trader determines the best entry and exit points. There are various techniques for using candlesticks’ strategy, including pin bar reversal, engulfing pattern, doji, etc. The trader needs to understand them to apply them to their trades correctly. 

  • Pin bar reversal pattern strategy 
TradingView - Pin bars

Traders use this approach to find breakouts, trend reversals, or trend continuation in price movements. The trade signals provided by this technique help the trader readjust their initial position. They can add a limit order or enter a short trade to avoid loss and profit from the price movement. 

  • Breakout trading
Breakout pattern in forex trading

Breakouts happen when the asset’s price stops moving and takes another direction. The price can break down in an uptrend market or breakout in a downtrend condition. The trader can foresee this change, using the appropriate indicators, and capitalize on the opportunity. 

Many other trading strategies exist. Some are effective on their own. Others need a supporting strategy to be successful. It is best that the trader thoroughly understands the approach they choose to use.

5. Make a profit 

Combining the most suitable strategy with a proper market analysis will result in winning trades. Once you start earning, you can move the profit out of the trading account using the same method for deposits.

Click on the funds’ tab and select the correct option for withdrawal. Choose your preference from the payment method and fill out the request form. After you click submit, the broker receives this withdrawal order and starts to process it.

The money should reflect on the receiving account once the withdrawal is processed. It usually takes longer than deposits. The average time is 48 hours, but that depends on the broker and the payment option used. Sometimes it takes longer than 48 hours or shorter.

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

Final thoughts: The best Forex Brokers are available in Lebanon

Finding the most suitable broker should be easy after reading our recommendations. Remember that all brokers have good and bad points, including reputable brokers. The best for you should be the one whose demerits cost you the least cash.

FAQ – The most asked questions about Forex Broker Lebanon :

What are the best forex brokers in Lebanon?

There are many forex brokers in Lebanon, but there are a few that are the finest brokers, like RoboForex, IQ Option, Capital.com, Pepperstone, and BlackBull Markets. They provide an advantageous trading state and minimal deposit. Though the broker market in Lebanon might be full of several brokers, nothing beats the services of these forex brokers.

Is forex trading and operation of forex brokers in Lebanon safe?

Forex trading is a high risk, the total required to turn a notable gain in forex is considerable, and so many dealers are highly leveraged. It might be a high risk, but it also gives traders profit. Besides, forex brokers in Lebanon give several features to traders that make trading less risky.

Do forex brokers in Lebanon operate legally?

Forex trading still needs to be a synchronized market in Lebanon. So, traders should be very cautious while trading with forex brokers in Lebanon. Traders must choose only such a forex broker in Lebanon that is highly regulated.

Is it profitable to trade forex with forex brokers in Lebanon?

It is beneficial to forex trade in Lebanon. It includes high risk, but at the same time, it is also very profitable. One should have the knowledge before starting forex trading in Lebanon. Self-education is very important to make profitable trades with forex brokers in Lebanon.

Last Updated on January 27, 2023 by Arkady Müller