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6 Best Forex Brokers in Myanmar

Written by: Louis Schoeman • Monday, April 22, 2024•3 min read
Edited by: Louis Schoeman • Last updated: Wednesday, June 26, 2024

Forex Broker Myanmar

 

The 6 Best Forex Brokers in Myanmar – Rated and Reviewed. We have listed the Top Forex Brokers accepting traders from Myanmar.

 

In this in-depth guide, you will learn:

 

  • The Best Forex Brokers in Myanmar – a List.
  • Is Forex Trading legal in Myanmar?
  • The Best Forex Brokers for Beginners and Foreigners.
  • The MetaTrader 4 and MetaTrader 5 Forex Brokers in Myanmar.

 

and much, MUCH more!

 

10 Best Forex Broker in Myanmar

 

6 Best Forex Broker in Myanmar – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts traders in Myanmar💴 Minimum Deposit
🥇 Axi👉 Click Here✅YesNone
🥈 XTB👉 Click Here✅YesNone
🥉 AvaTrade👉 Click Here✅Yes210178,10
🏅 FXCM👉 Click Here✅Yes105089,05
🎖️ FBS👉 Click Here✅Yes10508,90
🥇 OANDA👉 Click Here✅YesNone

 

6 Best Forex Broker in Myanmar (2024)

 

  1. ☑️ Axi – Overall, the Best Forex Broker in Myanmar
  2. ☑️ XTB – Great research and education
  3. ☑️ AvaTrade – Excellent all-round offering
  4. ☑️ FXCM – Best Forex Broker for Foreigners
  5. ☑️ FBS –  Forex Broker Tailored to Professionals
  6. ☑️ OANDA – Voted Best Forex Broker (2021/2020)

 

Axi Review

 

Axi

Axi is a trusted Forex Broker regulated by ASIC, FCA, and FMA. Account types available are Standard, Pro, and, Elite. Moreover, it provides spreads from 0.0 pips and commissions from $7 per round turn.

No Minimum deposit is required.

 

🔎 Broker🥇 Axi
💴 Minimum Deposit0 USD
💵 Inactivity Fee✅Yes
💝 Bonuses✅Yes
⏰ Support Hours24/5
🖱️ Trading PlatformsMetaTrader 4
🚀 Open an Account
👉 Click Here

 

Axi Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Axi is regulated by top-tier agenciesOnly MetaTrader 4 is available
Axi provides standard, professional, and advanced accountsAxi does not have a proprietary trading platform
Axi supports the use of MetaTrader 4 across devicesCrypto withdrawals are not available
Users can trade forex and CFDs on equities, indices, commodities, and CryptoAxi restricts customers from the United States and other regions

 

Our Insights

Axi is best suited to Experienced traders. Experienced Traders will benefit from Pro and Elite Accounts. However, the Trading Platforms are limited.

 

XTB Review

 

XTB

Top-tier financial authorities regulate XTB. It offers segregated accounts for customer assets and additional safeguards. Moreover, it allows mobile trading via the xStation Mobile platform.

 

🔍 Broker🥇 XTB
📌 Year Founded2002
👤 Amount of StaffApproximately 2,000
👥 Amount of Active TradersOver 500,000
📍 Publicly TradedWarsaw Stock Exchange
📈 RegulationFCA,
KNF,
IFSC,
CySEC
🌎 Country of RegulationUK (FCA),
Poland (KNF)
📉 Account Segregation✅Yes
📊 Negative Balance Protection✅Yes
💹 Investor Protection Schemes✅Yes
🅰️ Institutional Accounts✅Yes
🅱️ Managed AccountsNone
💰 Minor Account CurrenciesMajor,
Minor
💴 Minimum DepositVaries by account type
⚡ Average Deposit/Withdrawal Processing Time1-3 business days
💶 Fund Withdrawal FeeNone
📐 Spreads FromFrom 0.1 pips
💶 CommissionsVariable
💵 Number of Base Currencies Supported30+
💷 Swap Fees✅Yes
🔖 LeverageUp to 1:500
🏷️ Margin RequirementsVaries
☪️ Islamic Account✅Yes
🆓 Demo Account✅Yes
🖇️ Order Execution Time SecondsMilliseconds -
🖥️ VPS HostingSelect accounts
📈 CFDs Total Over 2,000
📉 CFD Stock IndicesMajor global indices
🍎 CFD CommoditiesOil, gold, etc.
📊 CFD Shares✅Yes
💴 Deposit OptionsBank transfer,
credit/debit,
e-wallets, etc.
💶 Withdrawal OptionsBank transfer,
credit/debit,
e-wallets, etc.
🖱️ Trading PlatformsxStation 5
⭐ OS CompatibilityWindows,
macOS,
iOS,
Android
⚙️ Forex Trading ToolsCharting tools,
technical analysis
🥰 Live Chat Availability✅Yes
☎️ Customer Support Contact NumberVaries by region
💙 Social Media PlatformsTwitter,
Facebook,
LinkedIn,
Instagram
🚩 Languages SupportedMultiple languages
✏️ Forex Course✅Yes
📔 Webinars✅Yes
📚 Educational ResourcesArticles,
tutorials, etc.
🤝 Affiliate Program✅Yes
🫶 Amount of PartnersNumerous global partners
🫰🏻 IB Program✅Yes
🔖 Notable Events or Teams✅Yes
🏷️ Rebate Program✅Yes
🚀 Open an Account👉 Click Here

 

XTB

 

Pros and Cons

 

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh conversion fee

 

Our Insights

XTB suits all traders. Beginners will benefit from top-tier education and trusted customer support

 

AvaTrade Review New

 

AvaTrade

AvaTrade is a highly regulated and established Forex Broker. Proprietary trading platforms include AvaOptions, AvaTradeGO, and, AvaSocial. Moreover, MT4, MT5, DupliTrade, and ZuluTrade is available.

The Minimum deposit is 100 USD.

 

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Over 1,260 instrumentsInactivity fees on dormant accounts
Fixed spreads from 0.6 pips on the Pro AccountThe demo account is available for 21 days
Islamic AccountDeposit and withdrawal options are limited
There is a free demo account availableLeverage is capped at 1:30 for retail accounts

 

Our Insights

AvaTrade best suits established and active traders. Professional Traders will benefit from a wide range of Trading Platforms.

 

FXCM Review

 

FXCM

Two Tier-1 Regulators govern FXCM. Trading instruments provided include forex, stocks, indices, commodities, and cryptocurrencies. Moreover, a Professional Account is available.

The Minimum Deposit is 50 USD.

 

🔍 Broker🥇 FXCM
💵 Minimum Deposit50 USD
4️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes
🕰️ Support Hours24/5
🚀 Open an Account👉 Click Here

 

FXCM

 

Pros and Cons

 

✅ Pros❌ Cons
Multitude of educational materialsHigh Currency conversion fees
Multiple Account TypesNarrow asset portfolio
24-hour multilingual customerLimited Trading Platforms

 

Our Insights

FXCM suites a wide range of Traders. Beginners will benefit from the Low minimum deposit and Demo Account.

 

FBS Review

 

FBS

FBS is a highly regulated and established forex broker. Accounts include Retail, Demo, and Islamic Options. Moreover, Trading Platforms available are MetaTrader 4, MetaTrader 5, and, FBS Trader.

The minimum deposit is 5 USD.

 

🔎 Broker🥇 FBS
💴 Minimum Deposit5 USD
💵 Inactivity FeeNone
🤝 Affiliate Program✅Yes
4️⃣ Ease of Use Rating4/5
📐 Trading InstrumentsForex, Precious Metals, Indices, Energies, Stocks, Crypto CFDs
🚀 Open an Account
👉 Click Here

 

FBS

 

Pros and Cons

 

✅Pros❌Cons
Minimum deposit - $5High leverage may be daunting
Leverage of up to 1:3000High leverage carries an increased risk of loss
Commission-free tradingLack of fixed spread options

 

Our Insights

FBS best suite Beginners. Account Types and Trading Platforms are limited. Moreover, 24/7 Customer Support is available.

 

OANDA

 

OANDA

OANDA is a leading online forex brokerage firm.  CFTC, NFA, and the FCA regulate OANDA. Moreover, it provides a comprehensive trading experience.

 

🔎 Broker🥇 OANDA
💶 Minimum DepositNone
📌 Account TypesStandard, Elite Trader
🆓 Demo Account✅Yes
🎁 Bonus Offers✅Yes
✏️ Education✅Yes
📲 Mobile Trading ✅Yes
🖱️ Trading PlatformMetaTrader 4
🚀Open an Account👉 Click Here

 

Oanda

 

Pros and Cons

 

✅ Pros❌ Cons
Great trading platformsOnly FX and CFD available for most clients
Outstanding research toolsLacking Customer Support
Low trading feesInactivity fee

 

Our Insights

OANDA is suitable for all traders. Professional Traders will benefit from the Premium, Premium Core, and, Professional Accounts.

 

Forex Trading in Myanmar

 

Is Forex Trading Legal in Myanmar?

Forex Trading is legal and well-regulated in Myanmar.

 

Is Forex Trading Legal in Myanmar?

 

In Conclusion

Forex Trading is legal and well-regulated in Myanmar. Moreover, an impressive number of international Forex Brokers accept local traders. Forex Trading in Myanmar has the potential to be profitable.

Forex in Maynmar must be traded via a reputable and regulated international forex broker.

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker
🥈Read ReviewFSCA, IFSC, ASIC, CySEC, DFSA, FCAUSD 5Visit Broker
🥉Read ReviewFCA, FSCA, FSC, CMAUSD 200Visit Broker
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker
5Read ReviewFSC, FSA, VFSCUSD 10Visit Broker
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker

 

Our Insights

In the process of reviewing the Best Forex Brokers that accept Forex Traders in Maynmar, we found 10 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.

 

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Faq

Forex Trading is legal and well-regulated in Myanmar.

The legal age for Forex Trading in Myanmar is set at 18 years.

The Internal Revenue Department of Myanmar.

Myanmar’s Financial Institutions Law or FIL.

The local currency in Myanmar is The Myanmar kyat.

The best Forex Broker in Myanmar is Axi.

An Axi Standard Account can be upgraded to a Pro Account.

XTB does provide partnership programs.

51 Currency Pairs, including Major, Minor, and, Exotic.

The minimum deposit to open a FXCM account is 50 USD.

MetaTrader 4, MetaTrader 5, and, FBS Trader.

OANDA’s Elite Trader account is tailored to high-volume traders with premium features and benefits.

FXTM has worldwide offices in Cyprus, the United Kingdom, Nigeria, Kenya, and South Africa.

MetaTrader 4 and MetaTrader 5.

Axi allows investors to trade various commodities, such as oil and energy.

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