Syria Forex Broker

The country had a developing economy until the known political conflict, which impacted almost every sphere, including Forex Trading and the availability of international brokers to open accounts for Syrian traders, as well as process payments.

Forex Platform Syria

Forex Trading in Syria might be restricted and there isn’t any regulatory body that oversees the forex market in the country. Hence, traders from Syria should be cautious while choosing a forex trading platform.

  • Since the forex market is not a regulated area, traders from Syria should choose international brokers, however, the number of those is limited due to the sanctions imposed on the country.
  • We highly recommend steering clear of offshore-only brokers for the safety of your funds, as they do not offer the equivalent level of protection as their reputable counterparts.
  • Before engaging in trading, ensure that the broker is trustworthy and complies with reputable authorities.

Read more about Forex Trading via Wikipedia

Syria Trading ProsSyria Trading Cons
Potential ProfitEconomic and Political Instability
FlexibilitySanctions and Restrictions
Global Economic ExposureRegulatory Uncertainty
Payment Issues
Limited Resources

Forex Regulation in Syria

The Financial sector in Syria is regulated by the country’s Central Bank. As to Forex Trading in Syria, there is no special regulatory body.
The main role of the Central Bank is to ensure the stability, transparency, and effectiveness of the sector.

The official website of the Central Bank of Syria is www.cbs-bank.sy.

Read our notes about the Forex Trading in Syria and regulatory issues it may face:

  • Forex trading in Syria might be restricted, and it’s not very safe to trade. If Syrian residents wish to start trading, they need to be maximum careful and choose only international brokers, with good regulations.
  • The conflict has had a severe impact on Syria’s economy, with infrastructure damage, displacement of people, and disruption of trade routes. Basic services, including banking and transportation, have been disrupted in many areas.
  • The Syrian pound (SYP) has experienced significant devaluation due to the ongoing conflict and economic challenges. This can make international trade more complicated and risky.
  • Another issue, that cannot be overlooked, is the payment methods. It is true for every country, yet in Syria especially, some payment methods might be unavailable and deposit and withdrawal can become a real problem.
  • To be more confident while signing with a broker, it is advisable to choose brokers that hold licenses from one of the following regulators – ASIC, FCA, or CySEC.
  • it’s crucial to highlight the significance of Islamic and Swap-free accounts. Due to religious considerations, most Syrian traders seek brokers offering these account types, as their beliefs prohibit them from trading through conventional accounts.

Read more about the Bank of Syria via Wikipedia.

bank of Syria

Top 5 Best Forex Brokers in Syria

Our list of Syria brokers consists of regulated brokers with international branches accepting Syrian traders, that are safe to invest with. They are defined according to the specified criteria and their Trust Scores.

  • XTB — Best Overall Broker in Syria 2024
  • FxPro — Best Low Spread Broker in Syria 2024
  • Trading 212 — Best Broker for Beginners in Syria 2024
  • Admiral Markets — Best MT4 Broker in Syria 2024
  • FXTM — Best Technical Analysis Broker in Syria 2024

Is Forex Trading Legal in Syria?

In Syria, there is not a separate regulatory body that oversees Forex Trading. The financial sector is controlled by the Central Bank of Syria (CBS). In fact, it might be restricted, and the only way to trade is to sign with an international broker.

Can Syria Trader Open a Trading Account?

Opening a trading account for a Syrian trader is possible to do only with international brokers. Still, very few brokers accept traders from the country and finding a trustworthy broker, with tight regulation might be a bit daunting, yet completely possible.

Brokers Forex Syria List

These are the regulated brokers that accept clients from Syria through their international branches while maintaining additional licenses from reputable regulators:

Broker Detail
Eightcap
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, TradingView
Regulation: ASIC, SCB, CySEC, FCA
1
Eightcap Review
GO Markets
Min. Deposit: 0 US$
Max. Leverage: 1:30, 1:500
Trading Platforms: MT4, MT5, cTrader, WebTrader
Regulation: ASIC, CySEC, FSC, FSA
2
GO Markets Review
FXCC Review FXCC
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, SVG FSA
3
FXCC Review
XM
Min. Deposit: US$5
Max. Leverage: 1:30 to 1:1000
Trading Platforms: MT4, MT5, XM WebTrader
Regulation: CySEC, ASIC, FSC, DFSA
4
XM Review
Instaforex Review InstaForex
Min. Deposit: 0 $
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5, WebTrader, MobileTrader
Regulation: CySEC, FSC BVI, FSC
5
InstaForex Review
Exness Review Exness
Min. Deposit: 10 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: FCA, CMA, CySEC, SFSA, CBCS, FSC BVI, FSC Muritius, FSCA
Exness Review