Forex trading in Qatar - Best Forex Brokers 2020Learn, Practice and trade with best Forex brokers in Qatar
Forex trading in Qatar is quite common among traders who like to diversify their investment. The favorite assets Qatari traders deal with are Gold, Crude Oil, and Forex. Thee are a good number of successful traders in Qatar who can analyze Gold and Crude Oil prices with accuracy and make money.
- If you are new to Forex trading, you may open a Demo Account and learn without risk.
- If you already have experience in the Forex market, you may open an account with the brokers mentioned here to enjoy best trading experience.
Forex trading in Qatar
In Qatar, the expat investors and Qatari investors are doing remarkably well with Forex trading. That’s the reason many Forex Brokers have now opened offices in Doha recently. The reason for the popularity of Forex trading in Qatar is the risk appetite of the investors, the investors from Doha can spare a portion of their portfolio for high-risk financial trading like Forex. Forex is the most exciting market among all financial markets. It is very much dynamic in nature and always moving, thus offers an opportunity to make money from the price fluctuations.
The Forex traders exploit the smallest price fluctuation in currencies to make a profit and of course, make losses too. The Forex brokers give a leverage of 1,000 times the deposited capital, so you get to trade with $100,000 by making a deposit of $100. Using leverage increases your profit rate by many folds. But it does increase your loss rate many folds too, you may lose your capital very fast if the price moves against your trade. Hence you should use the leverage very carefully, and always with a stop-loss.
Forex Brokers in Qatar
While selecting a Forex broker in Qatar, you must choose the one with an excellent track record and advanced trading features. We have shortlisted few brokers with the high quality of service and lowest charges. You can always rely on these Forex Brokers in Qatar when the safety and security of your funds are concerned.
There’re some of the finest Forex brokers in Qatar who can help you to get started with Forex trading in Qatar. These brokers offer you support and training in the Arabic language and provide telephonic support as and when you need them. While searching for ‘Forex Brokers Qatar,’ look for the well-established broker with many years of service in the industry. The new brokers in the market may pose a risk in terms of safety, the security of your fund, and transparency in trading.
Interestingly, a large number of investors are making returns that are outperforming the returns from equity markets. The key to succeeding in Forex trading lies in interpreting the currency price movements along with global financial news and happenings. One thing is clear; one can make money by trading currencies. But the new entrants to the market face a bewildering array of options, platforms, and terminology, so here’s a quick explanation to help understand Forex trading in Qatar. Check out the detailed review of the Forex brokers – iForex Review, FBS Review, InstaForex Review and Markets.com Review.
Best Forex Brokers Qatar 2020
While trying to find out some of the best Forex Brokers in Qatar in 2020, we reviewed some of the reputed Forex brokers for their services in Qatar. We considered the safety and security of funds, reliability of the trading platform, transparency in trading policy, safety and security of Financial transactions as primary factors in approving the broker for the recommendation. Q8 Trade is exclusively Middle East Forex broker having local offices and physical presence in GCC countries. They understand the Islamic Forex Accounts better than any other broker. If you are looking for a true Islamic Forex Broker in Qatar, then register with Q8 Trade.
Featured Forex Broker with Islamic Forex Account
Q8 Trade is a well-established, fully licensed and regulated Forex trading platform that offers traders from Qatar with Contracts for Difference (CFDs) trading on 5 asset classes: Forex pairs, cryptocurrencies, commodities, stocks, and indices. Q8 Trade always welcomes its clients to visit its local offices and encourages face-to-face meetings with professional trading advisors.
Sign up for a Special Islamic Forex trading Account in Qatar with Q8 Trade.
- Complies with BVI Financial Services Commission
- Low fees, Free Education and analysis
- Arabic language support
- Islamic trading account – Yes
- Complies with IFSC, license IFSC/60/230/TS/18
- Low spread and account starts with $1, $5 and more
- Safe and secure broker with a global customer base
- Award-winning broker with multiple compliances
- Bonus deposits available
- Low spread and fees
- Easy and safe fund deposit and withdrawal methods
What is Forex trading?
When you trade Forex, you simultaneously buy one currency and sell the other. Hence the Forex trading is always quoted in pairs, example EUR/USD, GBP/USD etc. The first currency mentioned in the quote is called base currency, and the second one is the quote currency. The price quoted indicates how much of the quote currency, the trader can buy with one unit of the base currency.
An example, if the currency pair EUR/USD is quoting at 1.0120, then you can buy 1 EURO for 1.0120 US Dollars. While trading Forex, there will always be quoted two prices for any currency pair. They are Bid price and Ask price or Offer price.The Bid price is the price given if you want to sell the currency pair, and the Ask price is the price quoted if you want to Buy the pair. For example, for EUR/USD is quoted at a Bid price of 1.0120 and an Ask price of 1.0122. The difference between the two is known as the spread. Forex traders can make a profit by buying a pair at a low price, and then selling it at a higher price, or selling the pair high, then buying it at low.
The example in EUR/USD :
When US Dollar weakens, EURO gets stronger (with respect to Dollar). Therefore, if the US is facing higher unemployment rate, the USD is likely to weaken. If you want to generate profit in this scenario, you need to BUY the EURO (at aks price – 1.0120 ), expecting it to appreciate against USD. Buying a position is also called LONG position.
In the alternate scenario of the lower unemployment rate, you should have sold the EUR/USD at the Bid price 1.0122, anticipating that EURO would get weaker and USD stronger. This is called creating a Short position.
Forex Trading Training in Qatar
There are several Forex brokers offering service to traders in Qatar, but when it comes to providing quality Forex trading training in Qatar, only a few brokers are worth mention. Q8 Trade has recently introduced Q8 HAWKS TRADING ACADEMY’S courses that can help Forex traders in Qatar to gain insight knowledge into the Forex market and trading strategies. Broaden your trading knowledge, build your trading strategies, and start trading like a professional trader through Q8 Trade’s leading Forex trading training in Qatar. Forex training is available in both the Arabic and English languages.
Bitcoin Trading in Qatar
Many traders are curious about Bitcoin and other Cryptocurrencies trading in Qatar. There are two primary ways to trade Bitcoin or other Cryptocurrencies –
- Buy and take delivery of the Cryptocurrency into your digital wallet, and
- Trade Crypto CFDs, you don’t have to take delivery of the Cryptocurrencies.
Learn more about Bitcoin trading and Crypto trading in Qatar on Bitcoins trading Qatar Page.
Is Forex trading legal in Qatar?
Yes, It is legal to trade Forex in Qatar. There are thousands of Forex traders in Qatar. The financial regulators don’t put any restrictions on Forex trading.
Will I make money by trading Forex?
It depends on your trading skill whether you will make money or lose money. There are more than 80% of traders losing money while trading Forex. So you have to be among the 20% winning traders to make money in Forex trading. It requires knowledge about the market, analysis skills, trading discipline, and money management to be a successful trader.
Conclusion – Can I start Forex trading in Qatar?
All the traders don’t make money by trading Forex. A majority of traders lose money, who can’t predict price movement correctly and can’t manage the risk. Only a few traders who can predict price direction successfully while managing the risk succeed in Forex trading and make lots of money. Hence you must learn to manage risk and understand technical and fundamental analysis. You must get extensive training and acquire enough experience in a demo trading account. Demo trading account is free and risk-free as it doesn’t involve real money.
The newbie Forex traders may subscribe to third party trading signals who are experts in the field. These signals can improve their success rate in Forex trading.
The retail traders usually get more experience by trading in demo accounts and reading more and more Forex resources. Before undertaking online Forex trading, it’s a good idea to spend time reading more and observing the market.