Armenia is a country that is in the process of expanding and innovating economically. Forex trading is widespread, with high demand from mostly younger Armenians looking to improve their economic standing. Well-regulated offshore Forex brokers cater to Armenian Forex traders, but how can you ensure you trade with the best Forex brokers in Armenia? My guide will help you choose your Forex broker and shorten your learning curve to avoid beginner mistakes.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
- FP Markets, ECN trading with leverage up to 1:500.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- XM, Exception range of assets + negative balance protection.
- FXTM, Best all-around broker with high floating leverage and fast execution.
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformTraders at Pepperstone get the Capitalise AI MT4 plugin for algorithmic trading in a code-free environment for a distinct competitive advantage, and VPS hosting ensures 24/5 low-latency Forex trading. It places Pepperstone among the best Forex brokers in Armenia. Pepperstone also offers the 28-plugin Smart Trader Tools package and Autochartist upgrade for MT4, but traders may use MT5 or connect with 50M+ peers to TradingView.
Pepperstone has deep liquidity with NDD execution, resulting in ultra-fast order execution with average speeds of 30 milliseconds. Traders get a well-balanced asset selection featuring 1,500+ assets, including Forex, Forex indices, cryptocurrencies, and ETFs.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
FP Markets
In Summary ECN trading with leverage up to 1:500FP Markets provides passive portfolio management via copy trading using the fee-based Signal Start, Myfxbook Autotrade, and the in-house FP Markets Copy Trading service. MAM/PAMM accounts cater to traditional account management. FP Markets maintains an excellent choice of payment processors, including cryptocurrencies. Therefore, I rank FP Markets among the best Forex brokers in Armenia.
Traders benefit from upgraded MT4/MT5 trading platforms via 12 plugins, Trading Central, and Autochartist. FP Markets features low-cost, commission-based trading fees, featuring raw spreads from 0.0 pips for a commission of $6.00 per 1.0 lot and 24/5 low-latency algorithmic Forex trading via VPS hosting.
Pros & Cons
- Choice of trading platforms and auxiliary trading tools
- Very competitive cost structure and excellent asset selection
- Low minimum deposit requirement and leverage of up to 1:500
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsThe MT4 Guardian Angel plugin and the fee-based Ava Protect insurance policy, protecting against trading losses, place AvaTrade among the best Forex brokers in Armenia. The well-balanced asset selection includes options, futures, ETFs, and cryptocurrencies. Passive income seekers can use Ava Social for social trading, ZuluTrade, and DupliTrade for copy trading, or sign up for the high-paying partnership program.
AvaTrade provides traders with its user-friendly, proprietary WebTrader and mobile app AvaTradeGO, which includes Trading Central services, MT4/MT5 for algorithmic traders, and the specialized alternatives Ava Option and Ava Futures. AvaTrade is also one of the best-regulated Forex brokers industry-wide.
Pros & Cons
- High quality educational offering via AvaAcademy
- Excellent choice of trading platforms catering to various trading needs
- Broad asset selection and cross-asset diversification opportunities
- Well-regulated and trusted broker with oversight from a central bank
- Trading costs competitive but nothing special
XM
In Summary Exception range of assets + negative balance protectionI rank XM among the best Forex brokers in Armenia as it maintains commission-free spreads starting from 0.8 pips or $8.00 per standard lot. XM caters to 15M+ traders. Its live education room is available Monday through Friday between 06:00 and 15:00 GMT. XM upgrades MT4/MT5 with six exclusive technical indicators and has zero requotes or rejections.
The low $5 minimum deposit requirement and bonuses of up to $10,500 per trader ensure availability and a portfolio boost. The well-balanced asset selection features 1,400+ trading instruments, including cryptocurrencies and in-house managed thematic indices. XM approves 92.9% of withdrawal requests automatically.
Pros & Cons
- Outstanding trading tools and loyalty program
- Low minimum deposit, high leverage*, and competitive trading cost
- Excellent research and education
- Trustworthy and transparent with generous bonuses and incentives
- Inactivity fee
FXTM
In Summary Best all-around broker with high floating leverage and fast executionFXTM offers raw spreads from 0.0 pips for a commission of $7.00 per 1.0 standard lot. It also features cutting-edge price improvement technology, lowering fees by an average of $3.00 per lot, applicable on 97.18% of all trades. Deep liquidity pools result in an average execution time of 0.071 seconds. Therefore, I rank FXTM among the best Forex brokers in Armenia.
Copy and mobile traders benefit from the in-house developed mobile and copy trading apps FXTM Trader and FXTM Invest. FXTM also upgrades MT4/MT5 with Trading Central, the upgrades from FX Blue, and its in-house Pivot Point Strategy plugin.
Pros & Cons
- Excellent commission-based Forex pricing environment and transparency
- Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
- Quality market research and educational content for beginner traders
- A highly regulated broker with a tier-1 license
- Limited choice of commodities
Armenia Forex Brokers Comparison
| | | | ||
Regulators | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | ASIC, CMA, CySEC, FSCA | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, CySEC, DFSA, FSC Belize | CMA, FCA, FSC Mauritius, FSCA |
Year Established | 2010 | 2005 | 2006 | 2009 | 2011 |
Execution Type(s) | No Dealing Desk, NDD | ECN/STP | Market Maker | Market Maker | ECN/STP, Market Maker |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.1 pips | 1.2 pips | 0.9 pips | 0.1 pips | 0.1 pips |
Average Trading Cost GBP/USD | 1.4 pips | 1.4 pips | 1.5 pips | 0.2 pips | 0.2 pips |
Average Trading Cost Gold | $0.15 | $0.16 | $0.29 | $0.19 | $0.18 |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform |
Islamic Account | |||||
Negative Balance Protection | N/A | N/A | N/A | ||
Get Started Visit Website75-95% of traders on margin lose | Visit Website | Visit Website | Visit Website | Visit Website |
How to Choose a Forex Broker in Armenia
My in-depth analysis of the Forex trading environment in Armenia focused on the criteria below, as they are necessary to all Forex traders.
The best Forex brokers in Armenia will offer the following:
- Regulation: A clean regulatory record of 10+ years at a trader-friendly regulator. Forex brokers regulated in New Zealand, Seychelles, Mauritius, Belize, South Africa, and Dubai offer a balance between trader protection and competitiveness. They often include an investor compensation fund, independent audits via the Hong Kong-based Financial Commission, and third-party insurance protection.
- Trading Fees: Low Forex trading fees determine the competitiveness of a trading environment. Major currency pairs like the EUR/USD and the USD/JPY should not exceed costs of $8.00 per 1.0 standard round lot or 0.8 pips. Volume-based rebates decrease final trading fees for high-volume traders.
- Trading Platforms: MT4/MT5 since support algorithmic and copy trading via third-party providers, including ZuluTrade and Myfxbook Autotrade. MT4/MT5 also connects to third-party trading tools like Capitalise AI, Trading Central, and Autochartist. They additionally include 25,000+ add-ons, custom templates, scripts, and EAs.
- Asset Selection: An asset selection exceeding 300+ trading instruments provides diversification and cross-asset trading opportunities.
- Deposits and Withdrawals: Traders should look for no internal transaction fees, low minimum requirements, and a choice of e-wallets, preferably with cryptocurrency deposits and withdrawals.
Forex Trading Regulations in Armenia
The Central Bank of Armenia regulates the Armenian Forex market, which applies primarily to physical Forex transactions and not derivative trading. No restrictions exist on Armenian Forex traders from opening offshore accounts.
What is the Maximum Forex Leverage in Armenia?
No theoretical upper limit exists, but the best Forex brokers in Armenia offer a maximum leverage of 1:500. Negative balance protection ensures traders cannot lose more than they deposit, and forced liquidation triggers if trading accounts breach margin ratios.
How to Start Forex Trading in Armenia
My tips below will help beginners shorten their learning curve and highlight areas of study to focus on.
Here are my Forex trading tips:
1. Start with in-depth education.
2. Approach and respect Forex trading as a highly skilled profession.
3. Trading psychology separates up to 90% of unprofitable traders from profitable ones.
4. Master the Forex leverage and risk management relationship.
5. Understand how lot sizes will impact risk management and make necessary adjustments.
6. Risk management is as important as the trading strategy.
7. Use a trading strategy that reflects your personality.
8. Low trading fees determine a competitive trading environment.
9. Study and perfect the proper take profit and stop loss placement.
Forex Trading Taxation in Armenia
Taxes in Armenia for Forex traders range between a 10% capital income tax and a maximum of 20% tax on select income sources, dependent on the taxable amount and how Forex income is classified. Therefore, I cannot stress enough that Forex traders must consult a licensed tax professional in Armenia for all tax-related queries to ensure compliance with all local rules and regulations and potential tax optimizations.
Pros and Cons of Forex Trading in Armenia
Armenian Forex traders consider the pros and cons before trading with the best Forex brokers in Armenia.
The Pros of Forex Trading in Armenia
- Ideal time zone to trade during the most liquid trading periods
- High-speed and stable internet connection
- Mobile penetration of 140%+
- Adequate trading infrastructure
The Cons of Forex Trading in Armenia
- No domestic assets
- Insufficient beginner education
- Lack of capital
Bottom Line
Armenia lacks domestic online retail Forex brokers. Therefore, the best Forex brokers in Armenia are well-regulated offshore Forex brokers, often tied to the dominant Russian Forex influence. Armenian Forex traders can benefit from algorithmic trading, copy, and social trading or mobile apps. I urge beginners to focus on in-depth education, mastering trading psychology, the leverage-risk management relationship, and how lot sizes influence risk management.
