Brokers With QAR Accounts

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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Qatar riyal (QAR) trading accounts allow traders to deposit and withdraw in an account denominated in Qatar’s local currency. They are particularly popular with traders in the Middle East, enabling users to manage their online trading activities in a relatively stable currency.

Discover the best brokers with QAR accounts, chosen after hands-on tests by our experts.

Best Brokers With QAR Accounts

These are the top 1 trading platforms supporting QAR accounts:

Brokers With QAR Accounts Comparison

Brokers With QAR Accounts Comparison
Broker QAR Account Minimum Deposit Markets Regulator Visit
Exness logo
$10 CFDs, Forex, Stocks, Indices, Commodities, Crypto FSA, CySEC, FCA, FSCA, FSC, CBCS Visit

#1 - Exness

Why We Chose Exness

Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.

"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
  • Platforms: Exness Trade App, MT4, MT5, TradingCentral
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:2000

How Did We Choose The Best Brokers?

To identify the best trading platforms with QAR accounts, we:

  • Examined our database of 500 online brokers and trading platforms
  • Identified all those that offer an account denominated in the Qatar riyal
  • Ranked them using 100+ data points and our direct observations during testing

What Is A QAR Account?

A QAR account is a trading account where the base currency is in Qatar riyals.

This means that trades (including opening and closing positions) and account transactions (deposits and withdrawals) are handled in QAR.

Below you can see a QAR trading account I opened with Exness.

Opening a QAR trading account at Exness
Exness – QAR Account Registration

Do I Need A QAR Trading Account?

A QAR account may be suitable if:

  • You live in Qatar and earn or save in QAR because it’s cost-effective to hold a trading account in the local currency.
  • You trade regional markets such as stocks in Middle Eastern energy companies, since the QAR is closely tied to oil and gas prices.
  • You are an international trader looking to broaden your currency portfolio by holding investments in a relatively strong currency.

How Can I Check If A Broker Offers An Account In Qatar Riyals?

Follow these easy steps, which we used to ensure our recommended trading platforms offer a QAR account:

  1. Go to the account options section on the broker’s website to find the list of base currencies.
  2. Check that ‘QAR’ is listed as a supported account currency .
  3. Sign up for an account and select ‘QAR’ as your base currency.
Some brokers may require you to set your account currency, such as QAR, after registration is complete. I’ve found you can normally do this by navigating to account settings or contacting customer support.
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Jemma Grist
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Pros & Cons Of QAR Trading Accounts

Pros

  • Brokers with riyal accounts can reduce or eliminate currency conversion fees on deposits, which is especially important for active traders for whom such costs can accumulate.
  • Since the Qatari riyal is pegged to the US dollar, the currency maintains relative stability in the global markets and may provide some protection against exchange rate volatility.
  • For Qatari day traders, an account denominated in QAR makes it more convenient to manage frequent trades, and view profit/loss reports in a familiar currency.

Cons

  • QAR accounts are uncommon and amount to less than 1% of brokers we’ve tested, giving you slim pickings when selecting a trading platform, especially compared to brokers with USD accounts.
  • Despite being pegged to the USD since 2001, economic and political tensions in the region could threaten the stability of the Qatari riyal and in turn the value of your account balance.
  • Our evaluations show shares listed on the Qatar Stock Exchange are not widely offered by brokers, which is a drawback for QAR account holders looking to avoid conversion costs when dealing in securities different from their base currency.

FAQ

Which Is The Best Broker With A QAR Account?

We’ve thoroughly tested the best trading platforms with QAR accounts. Refer to our list to find a suitable option.

How Much Does It Cost To Open A Trading Account Based In Qatari Riyals?

Many brokers require up to 250 USD (approximately 910 QAR) to open a live trading account. However, our evaluations have found some QAR trading platforms go much lower.

Exness, for example, only requires 10 USD, around 36 QAR, to open an account, making it an ideal choice for beginners.

Article Sources

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