Best Forex Trading Platforms And Brokers In Trinidad & Tobago 2024

Contributor Image
Written By
Contributor Image
Written By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
Contributor Image
Edited By
Contributor Image
Edited By
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.
Updated

Trading forex is popular in Trinidad and Tobago, where financial markets are supervised by the Central Bank (CBTT), the Trinidad and Tobago Securities and Exchange Commission (TTSEC) and the Financial Intelligence Unit (FIUTT).

Read our list to discover the best forex brokers in Trinidad and Tobago, selected by our experts as the most trustworthy firms with a great range of currency pairs, superb charting platforms and convenient deposits in Trinidad and Tobago Dollars (TTDs).

Top 5 Forex Trading Platforms In Trinidad & Tobago

These are the 5 best forex brokers that accept traders from Trinidad and Tobago according to our exhaustive hands-on testing:

  1. XM - XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.
  2. Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
  3. IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
  4. AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
  5. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

Best Forex Trading Platforms And Brokers In Trinidad & Tobago 2024 Comparison

Best Forex Trading Platforms And Brokers In Trinidad & Tobago 2024 Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator Visit
XM logo
55+ 1.6
$5 ASIC, CySEC, DFSA, FSC, FSCA Visit
Vantage logo
55+ 0.0
$50 FCA, ASIC, FSCA, VFSC Visit
IC Markets logo
75 0.02
$200 ASIC, CySEC, FSA Visit
AvaTrade logo
50+ 0.9
$100 ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM Visit
FOREX.com logo
80+ 1.2
$100 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA Visit
Pepperstone logo
100+ 0.1
$0 FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Visit
Eightcap logo
50+ 0.0
$100 ASIC, FCA, xCySEC, SCB Visit
PrimeXBT logo
45+ Variable
$0 - Visit
IQ Option logo
60+ 14 pips
$10 - Visit
BDSwiss logo
50+ 1.2
$10 FSC, FSA Visit
FxPro logo
70+ 1.58 pips (Ave)
$100 FCA, CySEC, FSCA, SCB, FSC Visit
FXCC logo
70+ 0.2
$0 CySEC Visit
XTB logo
70+ 1.0
$0 FCA, CySEC, KNF, CNMV, DFSA, FSC Visit
Plus500 logo
60+ 0.6
$100 FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA Visit
IG logo
80+ 0.8
$0 FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA Visit

#1 - XM

Why We Chose XM

XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

- DayTrading Review Team
  • GBPUSD Spread: 1.9
  • EURUSD Spread: 1.6
  • EURGBP Spread: 1.8
  • Total Assets: 55+
  • Leverage: 1:1000
  • Platforms: MT4, MT5

About XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

Pros

  • 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
  • Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
  • The broker offers premium research including market sentiment, fundamental insights and strategy builders

Cons

  • There is weak regulatory oversight through the global entity
  • PayPal deposits are not supported
  • There's $5 inactivity fee after only 3 months, though this won't affect active traders

#2 - Vantage

Why We Chose Vantage

Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.5
  • Total Assets: 55+
  • Leverage: 1:500
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

About Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

Pros

  • The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
  • It’s quick and easy to open a live account – taking less than 2 minutes
  • There are no short-term strategy restrictions with hedging and scalping permitted

Cons

  • A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
  • Unfortunately, cryptos are only available for Australian clients

#3 - IC Markets

Why We Chose IC Markets

IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • GBPUSD Spread: 0.23
  • EURUSD Spread: 0.02
  • EURGBP Spread: 0.27
  • Total Assets: 75
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade

About IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

Pros

  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.

Cons

  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

#4 - AvaTrade

Why We Chose AvaTrade

AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • GBPUSD Spread: 1.5
  • EURUSD Spread: 0.9
  • EURGBP Spread: 1.5
  • Total Assets: 50+
  • Leverage: 1:30 (Retail) 1:400 (Pro)
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

  • There is no ECN account with raw spreads
  • There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
  • Traders from the US are not accepted

#5 - FOREX.com

Why We Chose FOREX.com

FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • GBPUSD Spread: 1.3
  • EURUSD Spread: 1.2
  • EURGBP Spread: 1.4
  • Total Assets: 80+
  • Leverage: 1:200 (Retail), 1:500 (Pro)
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

About FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Pros

  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.

How We Rate Forex Brokers In Trinidad And Tobago

Trust

Trading currencies with a proven, reliable broker in Trinidad and Tobago is of the utmost importance due to the prevalence of scams online, with the TTSEC highlighting dangers from unlicensed brokers and boiler room scams where fraudulent platforms sell worthless investment products.

To protect yourself from forex scams, we recommend brokers with licenses from respected regulatory bodies, such as the FCA in the UK and ASIC in Australia, plus a clean track record in the industry.

These brokers employ the best security measures to protect your funds and often employ safeguards such as negative balance protection to prevent you from losing more than your balance when using leverage – a popular tool among forex day traders.

  • AvaTrade achieves a very high trust score after impressing with its long-term commitment to security and row of licenses from ‘Green-Tier’ regulators like the ASIC and CySEC.

Account Funding

Trade with a forex broker that supports suitable payment options for Trinidad and Tobago and you’ll be able to quickly fund your account without overpaying for conversion, deposits or withdrawals.

While analyzing payment methods in Trinidad and Tobago, we found that local traders often prefer e-wallets like Skrill as all-in-one solutions for converting Trinidadian dollars to US dollars or other account currencies.

💡
Crypto transactions are legal in Trinidad and Tobago and some forex brokers accept Bitcoin. And, since e-wallets like Skrill and PayPal also work with crypto tokens, these can be a viable option for funding even if the broker doesn’t directly accept cryptos.
  • XM’s account offering continues to impress with its range of 10+ accepted payment methods including Skrill, Neteller and other convenient e-wallets for Trinidadian traders.

Forex Markets

If you’re day trading forex you’ll want a wide selection of currency pairs for diverse short-term trading opportunities and less downtime.

While our benchmark for a good forex broker is at least 50 pairs, you’ll find leading platforms that offer 70 or more, featuring exotics like the USD/MXN and EUR/MXN.

Notably, Trinidadian dollars (TTD) are not widely available, so you may want to trade regional currencies from Latin America or major pairs with USD.

Table of popular currency pairs at IC Markets
IC Markets – Currency Pairs
  • IC Markets’ selection of 75 FX pairs is still one of the best available to traders in Trinidad and Tobago, who will benefit from tight spreads from 0.0 pips and lightning-fast execution averaging 35ms, ensuring reliable order executions.

Charting Platforms

Over years analyzing hundreds of forex brokers we’ve found time and again that charting platforms make the difference between a good and a great firm.

The key to a great forex platform offering is having strong options to suit traders of all styles and experience levels.

Experienced traders often choose established platforms like MetaTrader 4, MetaTrader 5, cTrader and TradingView for their sophisticated technical analysis tools and algorithmic trading support that suit fast-paced day trading strategies.

TradingView chart with Trinidad & Tobago / USD forex chart
FOREX.com – WebTrader

We also look for user-friendly in-house platforms as we find these are often favored by newer traders who want to quickly start trading currencies on an intuitive interface that’s often available directly through web browsers.

  • Forex.com remains our top option in Trinidad And Tobago in the tooling department thanks to its stand-out proprietary WebTrader, plus TradingView, the MetaTrader suite, and helpful extras like Autochartist and TradingCentral.

Pricing

Low fees are crucial for forex day traders who seek profit from a large volume of short-term trades. We recommend forex trading platforms with tight spreads after recording fees on the EUR/USD, GBP/USD and EUR/GBP because the spread can be the most significant hurdle you face before making a profit.

For experienced investors, finding the tightest spreads often means paying commissions on a Raw Spread account, though we’ve been pleased to see the rise in low-cost, commission-free options as well, which will appeal to newer currency traders.

We also analyze additional costs from non-trading fees as charges such as deposit/withdrawal fees can significantly cut into your profits, especially if you also need to pay for currency conversion to fund your account with Trinidadian dollars.

Trading fees are very important, but I recommend looking at the big picture and weighing these against the broker’s services. The best forex brokers in Trinidad and Tobago provide extra tools that can make a difference in planning winning trades.
author image
Michael MacKenzie
Author
  • Vantage continues to deliver excellent fees for Trinidadian forex traders with spreads from 0.0 in its Raw account plus a reward scheme for active traders with rebate vouchers and profit boosts.

Methodology

To select the best forex brokers in Trinidad and Tobago, we created a shortlist of brokers that accept traders from the country and ranked them by their overall rating, which factors in these key areas:DayTrading.com broker testing methodology overview

  • Checking the forex broker carries a license from a reputable regulator if not from the TTSEC.
  • Testing that the forex broker supports powerful charting platforms that suit day trading strategies.
  • Evaluating the markets to find brokers with currency pairs that are popular among Trinidadian traders.
  • Reviewing the pricing on popular currency pairs and weighing this against the quality of the services.
  • Checking the platform supports convenient payment methods that are available in Trinidad and Tobago.

FAQ

Specific regulations governing forex trading are not as comprehensive as those relating to traditional banking and financial services in Trinidad and Tobago. So, while many international brokers accept forex traders from Trinidad and Tobago, it’s advisable to consult with a legal professional familiar with the country’s latest rules.

You can also learn about the relevant tax regulations in Trinidad and Tobago by visiting the Inland Revenue Department website or discussing with an accountant how to deal with income from trading currencies online.

Who Regulates Forex Trading In Trinidad & Tobago?

The Trinidad and Tobago Securities and Exchange Commission (TTSEC) is the regulator that oversees retail forex trading, while the Central Bank and Financial Intelligence Unit are responsible for overseeing other parts of the country’s financial sector.

However, the regulatory framework for forex brokers is not very developed in Trinidad and Tobago, and you’ll find many of the best forex trading platforms are regulated in other countries.

How Much Money Do I Need To Start Trading Forex In Trinidad & Tobago?

Over years reviewing hundreds of forex brokers that accept traders in Trinidad and Tobago, we’ve found that you need a maximum of US$250 – around TT$1,7000 – to sign up with most platforms, though many charge less, and you can sign up with top-rated XM for just US$5.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com