Best forex brokers in Kuwait

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The Central Bank of Kuwait (CBK) is the institution that on one hand is responsible for the monetary policy and the price stability in the country, and on the other for the regulation of the financial and the capital markets.

Under the oversight of the CBK fall all Kuwaiti and foreign banks, finance companies, investment companies, exchange companies and investment funds. In the category of the exchange companies fall also all forex and CFD brokers.

The minimum capital requirement for an exchange company in order to get a CBK license is high – not less than 2 million Kuwaiti Dollars (6,6 million USD), fully paid and many of the CBK regulated brokers in the country offer stock trading options along with forex and the various CFD instruments.

CBK has also a special Customer Protection Unit, where you can file a complaint if you have an issue with a broker, operating under CBK supervision.

Also as Kuwait follows the Islam tradition all brokers in the country offer Islamic or swap free accounts.

CBK supervises all licensed brokers under the regulatory guidelines issued by the Government of Kuwai.

Along the usual payment methods, including credit cards like VISA and MasterCard, in Kuwait are popular several other payment gateways like K-Net, Tasdeed, OnePay, Qickpay, Bouky and Payit.

Traders in Kuwait can still freely open an account with foreign brokers, regulated by well known and well respected authorities such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).