5 Best Forex Brokers in Libya
Last Update: June 26th, 2024
The 5 Best Forex Brokers in Libya – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Libya.
In this in-depth guide you will learn:
- The Best Forex Brokers in Libya – a List
- Is Forex Trading Legal in Libya?
- The Best Forex Brokers in Africa for Beginners
- The Best MetaTrader Forex Brokers
and much, MUCH more.
5 Best Forex Brokers in Libya – a Comparison
🔎 Broker | 🚀Open an Account | 🤝 Accepts Libyan Traders | 💶 Min. Deposit (LYD) |
🥇 AvaTrade | 👉 Click Here | ✅Yes | 484,83 |
🥈 XM | 👉 Click Here | ✅Yes | 24,24 |
🥉 HYCM | 👉 Click Here | ✅Yes | 96,97 |
🏅 TMGM | 👉 Click Here | ✅Yes | 484,83 |
🎖️ Tickmill | 👉 Click Here | ✅Yes | 484,83 |
5 Best Forex Brokers in Libya (2024)
- ☑️ AvaTrade – Overall, the Best Forex Broker in Libya
- ☑️ XM – Best Overall Experience
- ☑️ HYCM – Leading MetaTrader Forex Broker
- ☑️ TMGM – Best Online Trading Experience
- ☑️ Tickmill – Best Mobile Trading Experience
AvaTrade
AvaTrade is a highly regulated brokerage with a global presence. Regulations include ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, the JFSA. Accounts include Retail, Islamic, and, Professional. Moreover, a Demo Account is available. The minimum deposit is 100 USD. Notable Factors and features to consider include:
- Access to a Referal Bonus
- Base Currencies including ZAR, USD, GBP, and, AUD
- Spreads from 0.6 Pips on the Pro Account
- Spreads from 0.9 Pips on the Retail Account
- Leverage of up to 1:30 (Retail)
- Leverage of up to 1:400 (Pro)
Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. Trading Platforms available are:
- AvaTrade Webtrader
- AvaOptions
- MetaTrader 4
- MetaTrader 5
- AvaSocial
- DupliTrade
- ZuluTrade
In addition, Mobile Trading is available via the AvaTradeGO App. Furthermore, Scalping and Hedging are offered.
🔎 Broker | 🥇 AvaTrade |
💴 Minimum Deposit | 100 USD |
🖱️ Account Types | Retail, Islamic, Professional |
🪙 Base Currencies | ZAR, USD, GBP, AUD |
5️⃣ Ease of Use Rating | 4/5 |
🎁 Bonuses | ✅ Yes, referral bonus |
⏰ Support Hours | 24/5 |
💵 Currency Pairs | 51; Major, Minor, Exotic Pairs |
🤝 Affiliate Program | ✅ Yes |
🚀 Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Over 1,260 instruments | Inactivity fees on dormant accounts |
Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
Islamic Account | Deposit and withdrawal options are limited |
There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insight
The Benefits of trading with AvaTrade include access to several award-winning trading platforms. Moreover, Copy and Social Trading are available.
XM
XM is a well-established and highly regulated Financial Services provider. Regulations include FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA. Accounts available are Micro, Standard, Ultra-Low, and, Shares. Moreover, a Demo Accounts and Isamic, Swap-Free Option is available. The minimum deposit is 5 USD. Notable Factors and features to consider include:
- Micro and Ultra Low Accounts for Beginners
- Spreads from 0.6 Pips
- Leverage of up to 1:1000
- Access to over 50 Currency Pairs
Trading Instruments include Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, and, Turbo Stocks. Trading Platforms available are:
- MetaTrader 4
- MetaTrader 5
In addition, a Proprietary Mobile Trading App is available.
🔎 Broker | 🥇 XM |
💴 Minimum Deposit | $5 USD |
🎁 Bonus Offers | ✅Yes |
📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
⏰ Support Hours | 24/7 |
🆓 Demo Account | ✅Yes |
🚀 Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Low Minimum deposit | No social trading features available |
Unlimited Demo Account | Inactivity Fees |
Our Insights
The Benefits of trading with XM are several base currencies and a low minimum deposit. Moreover, multilingual customer support is available.
HYCM
HYCM is a highly regulated and well-established global financial services provider. Regulations include FCA, CySEC, CIMA, and, the DFSA. Accounts available are Fixed, Classic, and, Raw. Moreover, a Demo Account is available. The minimum deposit is 20 USD. Notable Factors and features to consider include:
- 5 Base Currencies including USD and EUR
- Spreads from 0.1 Pips
- Leverage of up to 1:500
- Over 60 Currency Pairs, including Major, Minor, and Exotic Pairs
Trading Instruments include Forex, Metals, Energies, Commodities, Indices, Stocks, and Cryptocurrencies. Trading Platforms available are MetaTrader 4, MetaTrader 5, and HYCM Trader. In addition, Scaling and Hedging are offered.
🔎 Broker | 🥇 HYCM |
📈 Regulation and Licenses | FCA, CySEC, CIMA, DFSA |
📉 Ease of Use | 4/5 |
📊 Support Hours | 24/5 |
💹 Trading Platforms | MetaTrader 4, MetaTrader 5, HYCM trader |
📌 Account Types | Fixed, Classic, Raw |
💰 Base Currencies | USD, EUR, GBP, AED, JPY |
🅰️ Spreads | From 0.1 pips |
🅱️ Leverage | Up to 1:500 |
🚀Open an Account | Open Account |
Pros and Cons
✅ Pros | ❌ Cons |
Regulated by respectable agencies | Charges inactivity fees |
Good range of instructional resources | Research services can appear basic |
Narrow spreads on main Forex pairings | Neither copy nor social trading is currently accessible |
Our Insights
The benefits of trading with HYCM include multilingual customer support and an affiliate program.
TMGM
TMGM is a top-tier regulated Forex and CFD Broker. Regulations include ASIC, FMA, and, the VFSC. Accounts available are Classic, Edge, IRESS Standard, IRESS Premium, and, IRESS Gold. Moreover, a Demo Account and an Islamic, Swap-Free option are available. Notable Factors and features to consider include:
- Spreads from 0.0 Pips
- Leverage of up to 1:1000
- Over 50 Currency Pairs, including Major, Minor, and, Exotic
Additional costs that must be taken into account include:
- 30 USD after 6 months of inactivity
- Commissions from $7
Trading Instruments include Forex, metals, shares, energies, crypto CFDs, and, Indices. Trading Platforms include MetaTrader 4, MetaTrader 5, IRESS, and, HUBx.
🔍 Broker | 🥇TMGM |
💵 Minimum Deposit | 100 USD |
4️⃣ Ease of use Rating | 4/5 |
🎁 Bonuses | None |
⏰ Support Hours | 24/7 |
🚀 Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
Quick order execution + little slippage | Restricted Proprietary Platforms |
MT4 and MT5 | Limited Demo Account |
Our Insights
With additional trading Fees and a 100 USD Minimum deposit, TMGM best suit Established Traders.
Tickmill
Tickmill is a prominent forex and CFD broker with a Global reach. Regulations include CySEC and the FSCA. Accounts available include VIP, Classic, and, Pro. Moreover, a Swap-Free Account and Demo Option is available. The minimum deposit is 100 USD. Notable Factors and features to consider include:
- Spreads from 0.0 Pips
- Leverage of up to 1:500
- Multiple Base Currencies
- No Inactivity Fee is charged
Trading Instruments include Forex, stock indices, energy indices, precious metals, bonds, cryptocurrencies, stocks, and, ETFs. Tickmill Support MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile App is available.
🔎 Broker | 🥇 Tickmill |
💴 Minimum Deposit | $100 |
💵 Inactivity Fee | None |
📈 Spreads | From 0.0 pips on the Pro and VIP Accounts |
📉 Leverage | 1:500 |
💶 Currency Pairs | 62, major, minor, and exotic pairs |
📊 Scalping | ✅Yes |
💹 Hedging | ✅Yes |
🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill App |
⏰ Support Hours | 24/5 |
🚀 Open an Account | 👉 Click Here |
Pros and Cons
✅ Pros | ❌ Cons |
MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
It should be noted that trading with Tickmill is not commission-free. Tickmill is best suited to established and active traders.
In Conclusion
Forex Trading in Libya operates within a grey area. It is legal and available without restriction. However, it is not specifically regulated by a local regulatory authority.
Broker | Review | Regulators | Min Deposit | Website | |
---|---|---|---|---|---|
🥇 | ![]() | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
🥈 | ![]() | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
🥉 | ![]() | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
4 | ![]() | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
5 | ![]() | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
6 | ![]() | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
7 | ![]() | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
8 | ![]() | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
9 | ![]() | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
10 | ![]() | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
While reviewing the Best Forex Brokers that accept Libyan Traders, we found 5 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
You might also like:
Forex Trading in Libya is Legal and available without restriction.
The AvaTrade minimum deposit is 100 USD.
24//7 Customer Support is available.
HYCM supports MetaTrader 4 and MetaTrader 5.
Regulations include ASIC, FMA, and, the VFSC.
Over 60 Currency Pairs, including Major, Minor, and, Exotic Pairs.