5 Best Forex Brokers in Belarus (Updated 2025)

Forex trading, or the exchange of one currency for another, has gained significant traction globally, including in Belarus. For individuals looking to participate in this dynamic market, choosing the right broker is paramount. This guide will explore some of the top forex brokers available to traders in Belarus, highlight their strengths, and address crucial questions about the legality and accessibility of forex trading in the country.

Top 5 Forex Brokers in Belarus

Navigating the world of forex brokers can be overwhelming, especially for beginners. To simplify the process, we’ve compiled a list of five top-rated brokers that accept traders from Belarus. Each of these brokers has been evaluated based on factors such as regulation, platform offerings, trading instruments, and customer support. This should give Belarusian traders a clear path in deciding who fits their needs.

A Closer Look at the Best Forex Brokers in Belarus (2024)

Here’s a detailed look at each of the five brokers, showcasing what sets them apart:

AvaTrade: The Overall Top Pick

AvaTrade consistently ranks highly among forex brokers globally, and it’s a strong contender for Belarusian traders. This broker prioritizes security with its regulation by multiple financial authorities. These include the Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, and the IIROC. This extensive regulatory oversight means you can be certain that their security is well covered. They further boost their security with 256-bit SSL encryption across the website, which prevents unauthorized access to sensitive information. Moreover, AvaTrade adheres to WebTrust standards and has adopted the practice of segregating client funds from the broker’s own operational capital.This is a crucial measure to protect clients’ money in the event of the broker’s insolvency.

AvaTrade provides a variety of account types, including Retail/Standard, Professional, Islamic, and Demo accounts, to accommodate diverse trading styles and needs. The minimum deposit is 100 USD. The trading platforms they offer are comprehensive, including MetaTrader 4 and 5, AvaTradeGO, AvaSocial, AvaTrade Web, ZuluTrade, DupliTrade, and AvaOptions. This allows users to choose the platform the most comfortable for their trading style, further showing how considerate they are to their users.

AvaTrade’s trading options are impressive, featuring over 50 currency pairs, precious metals such as gold and silver, agricultural commodities, and energy resources. When it comes to deposits and withdrawals, AvaTrade supports Bank Wire Transfer, PayPal, WebMoney, and Skrill. This variety of supported platforms makes deposit and withdrawal more simple. The benefits of trading with AvaTrade include not only a high level of security and a wide range of offerings but also ample educational material, video tutorials, and excellent customer support to guide users.

IC Markets: Best for Beginners

IC Markets stands out as an excellent option for beginners in the forex market. This broker, known for its competitive trading fees, is regulated by bodies such as ASIC, CySEC, FSA, and SCB, which again is a testament to their dedication to security and keeping to law. Similar to other brokers, they segregate client funds, use negative balance protection, and employ sophisticated encryption technology to secure sensitive information.

Account options at IC Markets include cTrader, Raw Spread, Standard, and Demo accounts. The minimum deposit required is 200 USD. Trading platforms like MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, and ZuluTrade are available to users, providing a wide range of tools and analysis options.

IC Markets offers a wide variety of instruments, including 64 currency pairings, 22 commodities, 25 indices, 11 distinct bond instruments, 18 cryptocurrency alternatives, and 1600 stocks. They offer four futures contracts as well. To facilitate easy transactions, the broker accommodates various deposit and withdrawal methods, including PayPal, Neteller, Skrill, and Union Pay. Their comprehensive selection of educational resources and extensive product selection make them particularly attractive to new entrants.

Tickmill: Low Minimum Deposit Option

Tickmill is an attractive option for Belarusian traders seeking a broker that offers tight spreads and low commission rates. Tickmill is regulated by various bodies, namely the Seychelles FSA, FCA, CySEC, Labuan FSA, and the FSCA. This is, again, a great mark of their commitment to regulations. Tickmill’s dedication to financial security extends to the segregation of client funds and participation in financial service compensation schemes.

Tickmill provides account options such as VIP, Classic, Pro, Islamic, and Demo accounts. The minimum deposit requirement is 100 USD. Trading platforms like MetaTrader 4 and 5 are available, as well as their proprietary trading platform. This provides a wide range for users to pick from. This broker also offers a good selection of trading instruments, including 62 currency pairings, 23 indices, 3 energy contracts, 4 precious metals, and 4 bond instruments, and 8 types of cryptocurrency. Deposit and withdrawal methods include Bank Transfer, Crypto Payments, and Skrill. The extensive educational resources, including guides, seminars, and blog posts, make Tickmill particularly great for traders looking to enhance their knowledge.

Pepperstone: Best Platform with MetaTrader 5

Pepperstone is a well-regarded Australian forex broker known for its range of offerings, including a selection of CFDs. They are regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. They also offer financial security through segregated accounts in various top-tier banks, robust financial safeguards, and negative balance protection.

Pepperstone has an accessible minimum deposit, with 200 Australian dollars (AUD). The firm offers Standard, Razor, Professional, and Demo account options. Their diverse platform selection ranges from MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai, and TradingView. For trading instruments, they have 70 forex pairs, 17 commodities, 28 indices, over 1,000 shares, and 100 ETFs accessible for trading. Pepperstone also conveniently accepts various Deposit and Withdrawal Options, including MPesa, PayPal, Neteller, and Visa. The numerous, diverse account types, a broad selection of trading platforms, and excellent customer service make Pepperstone a strong contender.

XTB: High User Trust

XTB is a highly respected global firm, licensed and governed by prominent organizations such as the FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and IFSC. Their dedication to financial security includes using firewalls, intrusion detection systems, and multi-factor authentication.

XTB offers Standard, Swap-Free, and Demo account types, and unusually, they do not have an explicit minimum deposit requirement. They use both xStation 5 and xStation 5 Mobile. XTB gives access to a really wide range of trading instruments, including over 3,900 stock CFDs, precious metals (gold and silver), energy, agricultural goods, and a range of ETF CFDs. Popular cryptocurrencies are also available for trading. Deposit and Withdrawal Options include Skrill, Neteller, and Safety Pay. XTB further benefits by providing great educational material for complete beginners, narrow spreads on most major currency pairs, and access to a wide array of products.

Is Forex Trading Legal in Belarus?

A common question among prospective traders is whether forex trading is legal in Belarus. The short answer is that it is. Trading forex is not prohibited, as the exchange of currencies is a necessity for business and financial activities. It is important that Belarusian traders should ensure that they choose a broker that operates under regulatory bodies abroad, as local agencies in Belarus do not regulate international forex. The forex brokers listed above all operate by multiple international regulatory authorities, making them a good choice for Belarusian traders.

Summary

Finding the right forex broker is a critical step for any trader. Each of the five brokers discussed has diverse features to cater to different user requirements by being internationally regulated, having user-friendly platforms, a wide range of trading instruments, and great educational opportunities. AvaTrade is great for a high global level of security and education material. IC Markets is ideal for beginners because of their comprehensive materials. Tickmill offers tighter spreads and lower commissions with great educational opportunities. Pepperstone provides a wide variety of platforms, and offers an enjoyable user experience, and lastly, XTB has a high level of trust and provides beginners with the knowledge they need. By looking thoroughly into the options provided here, a user can determine what the best fit is for them.

Frequently Asked Questions (FAQ)

  • Q: Are these brokers regulated?

    A: Yes, all the listed brokers are regulated by reputable international financial authorities, ensuring a high level of safety and compliance for traders in Belarus.

  • Q: Can I trade in Belarusian Ruble (BYN)?

    A: Generally, these brokers do not offer BYN as a base currency. You can still use a standard base currency such as the USD to deposit and start trading.

  • Q: What is the minimum deposit for these brokers?

    A: The minimum deposit varies by broker. AvaTrade and Tickmill both require a minimum of 100 USD, IC Markets requires 200 USD, and Pepperstone requires 200 AUD. XTB does not have a definite required minimum deposit.

  • Q: What platforms do these brokers support?

    A: The brokers generally support platforms like MetaTrader 4, MetaTrader 5, cTrader, and proprietary platforms along with others, depending on the broker.

  • Q: Are these brokers suitable for beginners?

    A: Yes, each of these brokers provides a wide array of resources for novice traders such as demonstration accounts and educational guides, with IC Markets, Tickmill, and XTB standing out as great options for a good start.

  • Q: What deposit and withdrawal methods are available?

    A: There are multiple different deposit/withdrawal methods available including Bank transfers, Crypto payments, Paypal, Skrill, and others.

References

  • Central Bank of Ireland (CBI)
  • British Virgin Islands Financial Services Commission (BVI FSC)
  • Australian Securities & Investment Commission (ASIC)
  • Financial Sector Conduct Authority (FSCA)
  • Japan Financial Services Agency (JFSA)
  • Financial Futures Association of Japan (FFAJ)
  • Abu Dhabi Global Market (ADGM)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Israel Securities Authority (ISA)
  • Polish Financial Supervision Authority (KNF)
  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Seychelles Financial Services Authority (FSA)
  • Financial Conduct Authority (FCA)
  • Labuan Financial Services Authority (Labuan FSA)
  • Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
  • Capital Markets Authority (CMA)
  • Dubai Financial Services Authority (DFSA)
  • Securities Commission of The Bahamas (SCB)
  • Autorité de Contrôle Prudentiel et de Résolution (ACPR)
  • Comisión Nacional del Mercado de Valores (CNMV)
  • International Financial Services Commission (IFSC)