Kazakhstan ranks among the core emerging Forex markets due to the rapidly growing interest by retail traders. Read my report on the best Forex brokers in Kazakhstan and learn how you can start your forex trading journey in the region.
Top Forex Brokers in Kazakhstan at a Glance
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- FXTM, Best all-around broker with high floating leverage and fast execution.
- BlackBull Markets, 1:500 maximum leverage with ultra-low trading fees and deep liquidity.
- FP Markets, ECN trading with leverage up to 1:500.
Top Forex Brokers in Kazakhstan Comparison
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Regulators | ASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFID | ASIC, CySEC, FCA, SCB | CMA, FCA, FSC Mauritius, FSCA, SCA | FMA, FSA | ASIC, CMA, CySEC, FSCA |
Year Established | 2006 | 2009 | 2011 | 2014 | 2005 |
Execution Type(s) | Market Maker | ECN/STP, Market Maker | ECN/STP, Market Maker | ECN/STP, No Dealing Desk | ECN/STP |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 0.9 pips | 1.0 pips | 0.1 pips | 1.3 pips | 1.2 pips |
Average Trading Cost GBP/USD | 1.5 pips | 1.2 pips | 0.2 pips | 2.0 pips | 1.4 pips |
Average Trading Cost Gold | $0.29 | $0.12 | $0.18 | $0.90 | $0.16 |
Trading Platform(s) | Other, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+ | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Trading View | MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Visit Website | Visit Website | Visit Website |
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAvaTrade is one of the largest Forex / CFD brokers and well-known for offering their clients a choice of fixed or floating spreads. They have a very high and strong level of regulation. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava offers maximum leverage on Forex currency pairs as high as 400 to 1. AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. 2 bonds and 6 ETFs are also on the menu.
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
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsEightcap established itself among the best Forex brokers due to its superb trading infrastructure, excellent order execution amid deep liquidity, competitive fees, and cutting-edge trading tools. Manual traders get a well-designed AI-powered economic calendar. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.
Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
FXTM
In Summary Best all-around broker with high floating leverage and fast executionWe have made FXTM one of our top-rated brokers because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.
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
BlackBull Markets
In Summary 1:500 maximum leverage with ultra-low trading fees and deep liquidityBlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
FP Markets
In Summary ECN trading with leverage up to 1:500fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.
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
What to Look for in a Forex Broker from Kazakhstan
Forex traders have various requirements and preferences, but the best Forex brokers in Kazakhstan must provide core aspects to ensure a safe and competitive trading environment. My Forex brokers in Kazakhstan review focused on the criteria below.
All competitive Kazakhstan Forex brokers should offer the following:
- Forex trading regulation - A clean regulatory track exceeding 10+ years.
- Low trading fees - Competitive trading fees and swap rates, including positive ones. The EUR/USD should not exceed costs of $9.00 per 1.0 standard round lot or 0.9 pips.
- Trading platforms - Algorithmic trading is a requirement, while copy trading services and a mobile app are equally important. The MT4 and MT5 trading platforms tick all the boxes.
- Asset diversity - A balanced choice of liquid assets ensures increased trading opportunities and profit potential.
- Deposits/Withdrawals - No internal transaction fees and low minimum requirements with a choice of e-wallets and preferably cryptocurrency deposits and withdrawals.
Forex Trading Regulations in Kazakhstan
Forex brokers in Kazakhstan can provide Kazakh traders with competitive trading conditions, as the best Forex brokers in Kazakhstan operate from business-friendly off-shore jurisdictions. The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan regulates the domestic financial market, including Forex brokers, and has an equally pro-Forex regulatory framework.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan does not require off-shore brokers to obtain a license, and there are no restrictions on Kazakh Forex traders from opening off-shore Forex brokers, which explains the absence of notable domestic Forex brokers.
How Much is Forex Leverage in Kazakhstan?
The industry standard of 1:500 leverage for major currency pairs applies, which all Forex brokers in Kazakhstan offer. The best Forex brokers in Kazakhstan offer automatic stop-outs and negative balance protection to ensure traders cannot lose more than they deposit.
Despite offering leverage of 1:500, the actual leverage in portfolios is notably smaller, a concept most traders and regulators fail to differentiate. Forex traders must always use proper risk management when trading leveraged accounts and understand the relationship between leverage and risk management.
How to Start Forex Trading in Kazakhstan?
I advise beginners to consider my tips below to shorten their learning curve and highlight areas of study to focus on.
Here are my Forex trading tips:
- Begin with in-depth education.
- Approach and respect Forex trading as the highly skilled profession it is.
- Trading psychology separates up to 90% of unprofitable traders from profitable ones.
- Understand the leverage-risk management relationship.
- Leverage magnifies profits and losses.
- Risk management ranks on par with the trader’s strategy.
- Your trading strategy should reflect your personality.
- Low trading fees determine a competitive trading environment.
- Master proper take-profit and stop-loss placement.
Forex Trading Taxation in Kazakhstan
I found no verifiable information about Forex taxation during my Forex Brokers in Kazakhstan review, but Kazakhstan has a 20% capital gains tax and an individual flat tax of 10%. Therefore, I urge Kazakh Forex traders to consult a legal professional to seek tax advice in Kazakhstan to ensure compliance with local rules and regulations.
Pros and Cons of Forex Trading in Kazakhstan
I recommend that Forex traders consider the pros and cons of Forex trading in Kazakhstan.
The Pros of Forex Trading in Kazakhstan
- Good time zone to trade during the most liquid trading periods
- High-speed and stable internet connection
- Stable electricity grid
- Many Forex brokers offer services in Russian
- Competitive trading conditions
The Cons of Forex Trading in Kazakhstan
- The availability of domestic assets is limited
- No local presence by Forex brokers
- Forex education requires more focus
Bottom Line
Kazakhstan is a fast-growing market, and well-regulated off-shore brokers deliver the best trading platforms in Kazakhstan. Forex traders in Kazakhstan use a wide range of trading strategies, and some require an ultra-competitive technological infrastructure, like the one provided by the Forex brokers in Kazakhstan from my listing. Beginners should start with in-depth education before funding an account.
