10 Best Forex Brokers in Mongolia for 2025

A forex broker is a financial intermediary that facilitates the buying and selling of currencies in the forex market. These brokers provide traders with access to platforms where traders can execute trades, track market movements, and manage their portfolios. With so many options available, finding the right forex broker in Mongolia can be challenging, particularly for retail traders who look for  transparency, competitive pricing, and strong regulatory oversight.

To find the best forex brokers in Mongolia, we have analyzed and tested over 100 forex brokers based on various factors, including regulation, trading fees, spreads, account types, platform performance, execution speed, and customer support. We also considered additional factors such as deposit and withdrawal options, educational resources, and local support to ensure that traders have the guidance they need in their trading journey.

Based on our extensive research and comparison, we have selected the top 10 forex brokers for Mongolian traders. These brokers offer  a secure trading environment, safety of client funds, user-friendly platforms, and access to a wide  range of trading instruments and tools. In this article, we have compiled a list of the best forex brokers in Mongolia to help you find reliable partners that align with your trading strategies, ensuring a smooth, efficient, and secure trading experience in the forex market.

A List of Top Forex Brokers in Mongolia

• Pepperstone: Best Overall Forex Broker
• IC Markets: Best for Low Spreads
• Exness: Best For Instant Fund Withdrawal
• AxiTrader: Best for Trading Instruments
• BlackBull Markets: Best Broker For Free TradingView
• FP Markets:  Best for Low-cost Trading
• XM: Best for Multi-Asset Platform
• Eightcap: Best for Smart Trading Tools
• ThinkMarkets: Best for Gold Trading 
• FBS: Best for High Leverage

Best Forex Brokers in Mongolia (Compared and Reviewed)

1. Pepperstone: Best Overall Forex Broker

Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is a forex, CFD, and spread betting broker that provides online trading services to traders globally. The broker is regulated by seven top-tier regulatory authorities, including the FCA, ASIC, CySEC, BaFIN, SCB (Bahamas), CMA, and DFSA (Dubai). Pepperstone accepts clients from Malaysia under its SCB regulations.

Pepperstone offers over 1,200+ trading instruments, including forex, commodities, indices, currency indices, and shares. The broker provides three popular trading platforms: MT4, MT5, and cTrader. It also supports third-party charting and trading tools such as TradingView, DupliTrade, MirrorTrader, Myfxbook, Smart Trader Tools, cTrader Automate, Autochartist, and algorithmic trading.

Pepperstone allows nearly all trading styles, including scalping, EA trading, news trading, hedging, copy trading, and more. Additionally, the broker supports passive investment programs like PAMM and MAM. Pepperstone also offers API trading and VPS hosting for enhanced trading performance

Key Features:

• Trading Instruments: 1200+Trading instruments including Forex, Commodities, Cryptocurrencies, Shares/Stocks CFDs, etc 
• Maximum leverage:1:200 for retail accounts, 1:500 for professional accounts  
• Minimum Deposit: $0 (recommended deposit of $200 or Equivalent)
• Account Types: Two ( Standard account, Razor Account) 
• Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip. 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Pepperstone is regulated in 7 reputed jurisdictions, including FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA, and SCB in the Bahamas.
• Fast order execution is ensured, with an average of 30 milliseconds.
• Competitive spreads starting from 0.0 pips are offered.
• Clients’ funds are segregated with tier 1 banks for added security.
• There are no inactivity fees associated with the platform.
• Attractive trading conditions are provided.
• Pepperstone offers over 1200 trading instruments for diverse investment opportunities.
• The platform facilitates fast and complete online account opening.
• MT4 Smart Trader Tools, Autochartist, Capitalise.ai, and free VPS are among the trading tools available for users.

Cons:

• US Traders are not allowed 
• Only CFDs are Offered 
• No cent/Micro Account 
• Minimum recommended deposit is $ 200
• Support works only 24/5  
• Limited account protection for non-U.K./E.U. clients
• No guaranteed Stop-loss 
• 30-day expiry for demo accounts

Pepperstone accepts retail clients from Mongolia under its SCB regulation, offering a maximum leverage of 1:200. However, the traders of Mongolia can opt for a professional account to access leverage as high as 1:500. To learn more, check out our detailed content on Pepperstone in Mongolia

2. IC Markets: Best for Low-Spread Trading

Founded by Andrew Budzinksi in 2007, IC Markets is a Forex and CFD brokerage firm offering online trading services for retail and institutional clients. Although the company is based in Australia, it provides online trading services globally, including in Mongolia . IC Markets is regulated by top-tier regulatory authorities such as ASIC, CySEC, and FSA. The firm onboards clients from Mongolia  under its FSA jurisdiction.

IC Markets offers 2,150+ trading instruments, including 61 forex pairs, 25 index CFDs, 20 commodity CFDs, 2,100+ stock CFDs, 9 bond CFDs, 21 cryptocurrency CFDs, and 4 futures CFDs. The broker provides MT4, MT5, and cTrader, accessible on desktops, web browsers, and mobile devices. IC Markets offers raw spreads from 0.0 pips, no requotes, and unrestricted trading conditions, making it suitable for high-volume traders, scalpers, and automated trading systems.

IC Markets provides fast order execution with average speeds under 40ms, supported by low-latency fiber-optic connections and Equinix NY4 servers. The broker offers deep liquidity, reduced slippage, and free collocated VPS hosting for optimized performance. Processing over $29 billion in FX trades daily, IC Markets ensures a reliable trading environment for professional traders.

Key Features:

• Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
• Maximum leverage: 1000:1 for the clients of FSA jurisdiction. (Generally 1:500)   
•  Minimum Deposit: $200 or Equivalent
• Account types: Standard Account and Raw Account (Metater, Ctrader) 
• Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• A fully regulated broker operates in two tier-1 jurisdictions and one tier-4 jurisdiction.
• It offers super-fast trade execution speed.
• The broker provides low spreads starting from 0 pips.
• Account opening is easy and fast.
• Deposits and withdrawals are free.
• The broker offers standard and raw spread account options.
• Trading EA is allowed.
• Traders have the ability to trade from a mobile device.
• A demo account is available.

Cons:

• The broker requires a higher minimum deposit of $200.
• Non-EU clients do not have investor protection.
• The product selection is limited.
• Weekend trading is not available.
• US traders are not accepted.
• The broker is not regulated by the FCA.

IC Markets accepts clients from Mongolia  under its FSA regulation, offering a maximum leverage of 1:1000 (default leverage 1:500 for FSA). The broker allows traders from Mongolia  to use almost all trading styles. To learn more, check out our detailed content on IC Markets in Mongolia.                                                     

3. Exness: Best for Instant Withdrawal (Instant Deposit and Withdrawal)

Established in 2008, Exness is a globally recognized forex and CFD broker, known for its instant deposit and withdrawal services. The broker provides access to over 230 trading instruments, including forex, cryptocurrencies, stocks CFDs, commodities, and indices, making it a versatile choice for traders worldwide.

Exness supports trading on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, offering robust tools and features for traders. The broker accommodates various trading styles, such as copy trading, news trading, and EA (Expert Advisor) trading. With ultra-low spreads starting from 0.3 pips and the ability to start trading with as little as 0.01 lots, Exness ensures an accessible and cost-effective trading experience.

Exness is regulated by top-tier authorities, including FCA (UK), CySEC (Cyprus), CMA (Kenya), FSCA (South Africa), CBCS (Central Bank of Curaçao and Sint Maarten), FSC (BVI and Mauritius), and FSA (Seychelles). However, it does not have regulation under ASIC. The broker’s commitment to compliance and fund safety is reflected in its adherence to stringent regulatory standards and the use of segregated client accounts.

With over 80,000 active traders globally, Exness has established itself as a trusted name in the forex industry. It offers features like unlimited leverage, lightning-fast order execution, and advanced risk management tools. The broker’s focus on cutting-edge technology, competitive trading conditions, and 24/7 customer support make it a preferred choice for traders seeking reliability and efficiency in their trading journey.

Key Features:

• Trading Instruments: 200+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: Upto 1:Unlimited
•  Minimum Deposit: $1 
• Account Types: Exness offers 5 different types of accounts including Standard, Standard Cent account, Pro,  Raw Spread, Zero accounts 
• Fees: starting from 0.2 pips for a standard account, 0.3 pips for a standard cent account, 0.1pip for a pro account, up to 3.50 per Lot per one side for a raw spread account, 0.05/lot per side for a zero account,
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Our Rating

Pros

• Top tire regulations ( FCA, CySEC, FSC, FSA-S SBCS, FSCA, BVI FSC, and so on. 
• The maximum leverage is as high as 1:unlimited or 1:2000
• The minimum deposit is as low as $1 or depends on payment methods
• Free VPS hosting; to qualify, you need to trade for a minimum of 14 days and lifetime deposits of $500;
• Competitive spreads starting from 0.2 pips on standard accounts
• Swap-Free/Islamic Account Provided
• Scalping, EA Trading, and Copy Trading are allowed 
• Instant Withdrawal of Money 24/7

Cons

• No Passive investment programme ( PAMM, MAM Accounts) 
• No Ctrader, Tradingview, or ZuluTrade offered 
• US Traders are not accepted 
• Only MT4 and MT5 Trading Platforms 
• Limited educational resources

4. AxiTrader: Best for Trading Instruments

Founded in 2007 in Sydney, Australia, AxiTrader (AXI) is a forex and CFD broker that offers online trading services. The broker is a global brand, serving over 60,000 clients across more than 100 countries. It is regulated by top-tier authorities, including ASIC (Australia), FCA (UK), DFSA (Dubai), FSA (Seychelles), and SVGFSA (St. Vincent and the Grenadines).

Axi provides access to 220+ trading instruments, including forex, shares, indices, commodities, and cryptocurrencies. It offers the popular MetaTrader 4 (MT4) platform, complemented by innovative tools like Autochartist, MT4 NextGen, and the Axi Copy Trading app for social trading. Additionally, the broker is set to launch its proprietary Axi Trading platform to enhance its offerings for both beginner and professional traders.

AxiTrader supports multiple trading styles, including scalping, hedging, and algorithmic trading. It also offers VPS hosting, risk management tools, and a user-friendly mobile app to meet the needs of modern traders. AxiTrader’s combination of advanced tools, competitive spreads, and a strong focus on client security makes it a preferred choice for traders worldwide.

Key Features:

• Trading Instruments: Offers forex and CFD instruments including FX, shares, indices, commodities, and cryptocurrencies.
• Trading Platforms: MT4, NextGen
• Minimum Deposit:  $0
• Maximum Leverage: Upto 1:500 for retail traders. ( Up to 30:1 (CySEC, ASIC)
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips for the Pro and Elite account, $ 7 round trip per lot for the Pro account, and $3.50 for the Elite account.
• PAMM/MAM: Available 
• Scalping: Allowed 
• News Trading: Allowed

Our Rating

Pros

• A global broker since 2007.
• Regulated by FCA, ASIC, DFSA, and FMA.
• Serves over 60,000 customers in 100+ countries.
• No deposit and withdrawal fees.
• The minimum deposit is as low as $1.
• Allows scalping, EA trading, and news trading.
• Offers passive investment programs like MAM, PAMM, and Zulutrade.
• Maximum leverage is as high as 400:1.
• Offers a wide range of trading instruments including forex, metals, indices, commodities, and cryptocurrencies.
• Spread betting is available for the UK market.
• Spreads are low and start from 0 pips.
• Easy and digital account opening process.
• AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offered.
• Signal providers and free VPS are offered (conditions apply)

Cons

• Not regulated by CySEC, a leading regulator for EU countries.
• The demo account expires after 30 days.
• The broker does not offer more advanced platforms like MT5 and cTrader; only MT4 is available.
• The commission is $7 for the pro account, which is a bit high compared to competitors.
• Only forex and CFDs are offered; no real tradable assets are available

AxiTrader accepts retail clients from Mongolia under its FSA regulation, offering a maximum leverage of 1:500. The broker provides three major types of accounts in Mongolia: Standard Account, Pro Account, and Elite Account. To learn more about AxiTrader in Mongolia, read our content on AxiTrader in Mongolia: Features, Pros, Cons & More.

5. Blackbull Markets: Fastest Execution Forex Broker

Founded in 2014, BlackBull Markets is a New Zealand-based forex and CFD broker regulated by the Financial Markets Authority (FMA), Financial Service Providers Register (FSPR), and FSA-S (Seychelles). The broker is known for its deep liquidity, fast execution speeds, and institutional-grade trading conditions. BlackBull Markets offers over 26,000 trading instruments, including forex, equities, indices, commodities (metals, energies, and agriculture), and futures. With no minimum deposit requirement, traders can start with as little as $1, and spreads begin at 0.0 pips.

BlackBull Markets provides a variety of trading platforms, including MT4, MT5, cTrader, TradingView, and its proprietary BlackBull Copy Trader platform. The broker offers free access to TradingView premium features, as well as third-party trading tools like ZuluTrade, Myfxbook, and Autochartist. BlackBull Markets supports nearly all trading strategies, including scalping, EA trading, hedging, news trading, and algorithmic trading. It also provides free VPS hosting for traders who need low-latency execution and API trading for those who require advanced automation.

BlackBull Markets accepts clients from around the world including Mongolia. However, the broker does not offer its services to the US, US Territories, and OFAC-sanctioned countries. The broker’s execution speed averages under 100 milliseconds, making it a strong choice for traders who rely on high-speed order execution. With competitive spreads, a broad selection of trading instruments, and access to advanced trading platforms, BlackBull Markets is a well-rounded option for both retail and professional traders seeking a feature-rich forex and CFD trading experience.

Key Features:

• Trading Instruments: 26000+ trading instruments in 80 markets  including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to 1:500 
• Minimum Deposit: $0 for standard, $2000 for Prime, $20,000 for Institutional account
• Account Types: Offers 3 account types including ECN standard, ECN Prime, and ECN institutional. 
• Fees: starting from 0.8 pips for a standard account, (0.1 pips + $6) per lot for an ECN Prime Account, and (0.0 Pips +$4) for an Institutional account.
• PAMM/ MAM:  Yes, 
• Zulutrade: Yes 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Regulated by  FMA, FSPR, FSP, FSA-S
• Founded in New Zealand and operating globally
• Professional and Retail Trading options 
• No Minimum Deposit Requirement ($0) 
• The Maximum Leverage is as  high as 1:500
• Allow Scalping, News Trading, EA/Robot Trading 
• Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
• Supports multiple third-party copy trading platforms, such as ZuluTrade, DupliTrade, and Myfxbook.

Cons:

• BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
• $2,000 minimum deposit for Prime Account
• The Ctrader platform is not offered 
• Withdrawal fees 
• Limited Research Tools 
• Not very diverse range of tradable assets

BlackBull Markets accepts retail clients from Mongolia under its FSA-S regulation, offering leverage up to 1:500. As a true ECN broker, it provides direct market access for forex, CFDs, and commodities trading. For more details, check out our full guide on BlackBull Markets in Mongolia.

6. FP Markets:

Founded in 2005 in Australia, FP Markets is a globally recognized forex and CFD broker. It is regulated by top-tier authorities, including ASIC, CySEC, FSCA, FSA in Seychelles, and St. Vincent and the Grenadines. The broker is known for its low-cost trading, offering ultra-low spreads starting from 0.0 pips. 

FP Markets provides access to over 10,000 trading instruments, including 70+ forex pairs, shares on global exchanges, 19 major indices, commodities, bonds, metals, and digital currencies such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

The broker offers two account types: Standard and Raw. It supports popular trading platforms, including MT4, MT5, cTrader, and TradingView. FP Markets allows various trading strategies, including scalping, news trading, and EA trading. Additionally, it provides passive investment options like PAMM, MAM, and copy trading. The broker accepts clients from most countries worldwide, except for the USA, its territories, OPAC-restricted countries, and certain EU/UN-restricted regions.

Key Features:

• Trading Instruments: 10000+ trading instruments including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: up to 1:500 
•  Minimum Deposit: 100 AUS or equivalent. 
• Account Types: Offers 2 account types: Standard, Raw
• Fees: starting from 1.0 pips for a standard account, $3.5 commission on Raw account per side
• PAMM/ MAM:  Yes, 
• Zulutrade: Yes 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 

Our Rating

Pros :

• Regulated by ASIC, CySEC, FSCA, SVGFSA, AFS, FSP 
• The Maximum leverage is 1:500
• Offers popular trading platforms like MT4, MT5, cTrader, WebTrader, IRESS
• Hedging, Scalping, EA/Robot, and Copy trading are allowed 
• Easy, Fast, and Digital account opening
• Offers passive investment programs like MAM, PAMM Accounts
• Faster order execution (40ms) 
• FP Markets offers consistently tighter spreads from 0.0 pips

Cons:

• No FCA regulation. 
• The Minimum deposit is $100, which might be high for a beginner
• High Stock CFD fees 
• US traders are not accepted 
• Only two types of accounts ( Standard, Raw) 

FP Markets accepts retail clients from Mongolia under its St. Vincent and the Grenadines registration, offering a maximum leverage of 1:500. The broker does not have any trading restrictions and is ideal for Expert Advisors (EAs). To learn more, check out our detailed content on FP Markets in Mongolia.

7. XM: Best for Deposit Bonus

Founded in 2009, XM is a forex and CFD broker offering access to over 1,000 trading instruments, including forex, cryptocurrencies, stock CFDs, thematic indices, turbo stocks, commodities, precious metals, and energies. The broker is regulated by several reputable authorities, including ASIC (Australia), CySEC (Cyprus), FSC (Belize), DFSA (Dubai), and FSCA (South Africa), ensuring a secure and trustworthy trading environment. XM offers flexible trading conditions with a maximum leverage of 1:1000 and spreads starting as low as 0.6 pips.

XM provides access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, enhanced with proprietary indicators that offer advanced trading tools. The broker supports various trading styles, such as scalping, automated trading, and copy trading. Traders can also benefit from educational resources, market analysis tools, and webinars to enhance their trading knowledge and skills.

XM offers multiple account types designed for beginners, experienced traders, and professionals, ensuring that each trader can find the right fit for their needs. Additionally, XM offers attractive bonus programs, including a welcome bonus for new traders, deposit bonuses, and a refer-a-friend program, providing extra funds to boost trading potential. With its user-friendly platforms, low-cost trading options, and extensive range of instruments, XM has earned numerous awards for its services and customer support, establishing itself as a trusted and reliable broker in the industry.

Key Features:

• Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
• Maximum leverage: up to 1000:1 
•  Minimum Deposit: $5 or Equivalent
• Account Types: Micro, Standard, Ultra Low, Shares Accounts 
• Fees: Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
• PAMM/ MAM:  Not Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Regulated by CySEC, ASIC, DFSA (U) and FSC (B).
• Easy and fast account opening
• Minimum deposit is $5
• Over 1000 forex/CFDs are available for trading.
• MT4 and MT5 are the available trading platforms.
• Quality research, market analysis, and access to trading tools like Autochartist.
• Quality training for newbies and ‘ultra-low micro account’ for beginners.
• High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)

Cons:

• Dormant fees are charged after 3 months of no account activity.
• Trading of real stocks is not available to European traders.
• Traders have no other choice apart from the MetaTrader platforms.
• Limited tradable assets.
• No passive investment services (social trading platform, PAMM accounts);
• Funding with PayPal is unavailable

XM accepts retail clients from Mongolia  under its FSC regulation, offering a maximum leverage of 1:1000. Additionally, the broker offers a 20% deposit bonus of up to $5,000.  For more detailed information, explore our comprehensive guide on XM in Mongolia .

8. Eightcap: Best for Smart Trading

Founded in 2009, Eightcap is an Australia-based forex and CFD broker that offers a wide range of trading instruments including forex, CFDs, Cryptos, share CFDs, Commodity CFDs, and so on. The broker offers a variety of trading platforms such as MT4, MT5, TradingView, and Webtraders. Eightcap allows scalping, EA Trading, and copy trading, and also offers passive investment programs like PAMM and MAM.

Eightcap is a regulated broker, being regulated by ASIC, CySEC, FCA, and SCB. The broker provides a couple of useful trading tools and services for traders, including AI-powered Economic Calendar Capitalise.ai, FlashTrader, and ForexVPS. Eightcap is reputed for offering prop trading solutions to many brokers.

Key Features:

• Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
• Maximum leverage: 500 :1 for the clients of SCB Jurisdiction.    
•  Minimum Deposit: $100 or Equivalent
• Account Types: Three Types of Accounts including Raw Account, Standard Account, TradingView Account 
• Fees: about $3.5 per lot on each side for the raw account, 1 pip spread for the standard account, 1 pip spread for the Tradingview account 
• PAMM/ MAM:  Available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Top Tier regulated Broker
• Free deposit and withdrawal
• The maximum leverage is as high as 500:1
• Fully Digital Account Opening
• MT4 and MT5 trading Platforms are offered
• TradingView is integrated
• Stable Liquidity

Cons:

• Does not accept US Clients
• The minimum deposit is $100, which might be a bit more for beginners
• Limited research and educational tools
• No investor protection scheme in its Global Entity (in fact, no brokers have)

Eightcap onboards the clients of Mongolia under its SCB entity (Eightcap Global Limited). Learn More about Eightcap in Mongolia. 

9. ThinkMarkets: Low Spread Broker for Gold Trading

Founded in 2010 by Nauman and Faizan Anees, ThinkMarkets is a globally recognized forex, CFD broker, and online trading platform based in Australia. The broker offers worldwide trading services with offices in London, Tokyo, Chicago, Melbourne, Limassol, Dubai, Sofia, and Johannesburg. ThinkMarkets provides access to over 4,000 trading instruments, including forex, stock indices, commodities, bonds, cryptocurrencies, and stocks. Clients can trade on the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and ThinkTrader platforms, with real stock trading available through the ThinkTrader app.

ThinkMarkets is regulated by multiple top-tier authorities, including ASIC (Australia), CySEC (Cyprus), FMA (New Zealand), JFSA (Japan), FSA-S (Seychelles), FSCA (South Africa), FCA (UK), and DFSA (Dubai). This ensures a secure and transparent trading environment for clients. The broker supports traders with innovative tools like free VPS, the Signal Centre for market insights, dynamic leverage, and Traders’ Gym for skill development. Its platforms are designed to cater to both beginners and experienced traders with advanced tools and seamless navigation.

ThinkMarkets is particularly favored for its competitive spreads, making it an excellent choice for gold trading and other commodities. The ThinkTrader platform is tailored for user convenience, offering real-time insights and robust trading features. With its comprehensive offerings, strong regulatory backing, and client-focused services, ThinkMarkets has positioned itself as a reliable partner for traders worldwide.

Key Features:

• Trading Instruments: 4,000+ forex and CFD instruments including FX,  Stock, Indices, Commodities, Bonds, Cryptocurrencies
• Trading Platforms: MT4, MT5, ThinkTrader, ThinkCopy
• Minimum Deposit:  $50
• Maximum Leverage: Dynamic leverage up to 1:2000 ( Dynamic 1:500 in many countries, 1:30 for EU, UK, and Australia)
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($3.5 per lot) for the ThinkZero account, 0.4 pips ( $0 per lot ) for the Standard account, and 2.52 pips ($0 per lot) for the Mini account.
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed 
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Regulated by ASIC, FCA, CySEC, JFSA, FSA-S, DFSA, FSC (Mauritius), 
• The minimum deposit is as low as $50
• The Maximum Leverage is as high as 2000:1 
• Allows scalping, EA trading, Copy trading
• Offers social trading options PAMM, MAM Accounts
• Negative balance protections for EU, UK, and Australian clients
• Tight Spreads Starting From 0 pips 
• MT4, MT5, and Thinktrader trading platforms are offered 

Cons:

• Only Forex and CFDs are offered (not real assets).
• There is no investment protection scheme for Global traders.
• Ctrader and TradingView are not offered.
• No bonuses or promotional offerings are available.
• Conditions may vary according to regulation and entity.
• Offshore Entity for international traders 

10. FBS: Best for High Leverage

Founded in 2009 in Belize, FBS is a Forex and CFD broker that offers online trading services globally. The broker is regulated by ASIC, CySEC, and the FSC. FBS provides over 200 trading instruments, including Forex, CFDs, metals, energies, and shares. It supports almost all trading styles, such as scalping, news trading, EA trading, and hedging. FBS is a low-spread and high-leverage Forex broker, with maximum leverage as high as 1:3000, one of the highest in the industry.

FBS offers a wide range of trading platforms, including MT4, MT5, and FBS Trader. The broker provides all versions of the MT4 trading platform. FBS is also reputed for fast order execution, with orders executed in as little as 0.01 seconds. As one of the leading Forex brokers in the world, FBS offers excellent trading conditions and services to its clients.

Key Features:

• Trading Instruments: Forex, Stock, Indices, Crypto, Metals, Energies, Forex Exotic.
• Maximum leverage: 1:3000
• Minimum Deposit: $5
• Account Types: Three ( Standard, Cent, Pro) 
• Trading Fees: Spread starting from 1 pip for Standard Account and Cent Account
• PAMM/ MAM: Not available 
• Scalping: Allowed 
• News Trading: Allowed
• EA/ Robot Trading: Allowed
• EA/ Robot Trading: Allowed

Our Rating

Pros:

• Regulated by the CySEC, ASIC, FSCA South Africa, and FSC Belize.
• The Maximum Leverage is as high as 1:3000
• The Minimum deposit is $5 
• Trading is on the MT4, MT5, and FBS trader platforms.
• There is an account type to suit newbies, experienced, and pro traders.
• Low spreads, high leverage, and fast order executions
• Easy and fast account opening
• Forex Guidebook, Forex Intensive, trading ideas, webinars, and other training resources are provided.

Cons:

• Tradable assets are not much, especially when compared to other top brokers.
• Daily Market news and analysis are not regularly updated.
• No premium trading tools to assist traders.
• No investor protection for non-EU Clients 
• Managed Accounts & Social Trading is unavailable 
• Few Account Base Currencies

FBS onboards the clients of Mongolia under the FSC in Belize (FBS Markets Inc). Learn more about FBS in Mongolia here.

Can I trust these online brokers in Mongolia?

Yes, you can trust these brokers. Brokersway recommends brokers based on facts and findings. We evaluate brokers based on 170 data points grouped into 6 macro categories including regulations and security, fees, Trading experience, trading tools, customer support, and trading education. Multiple regulatory authorities regulate these brokers. So they are legit and trusted. Here are the regulation of these brokers

• Pepperstone: Regulated by 7 regulatory authorities including FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB
• IC Markets: Regulated by 3 Regulatory Authorities including FCA, CySEC, and ASIC
• Exness: Regulated by 8 Regulatory Authorities including CySEC, FCA, CMA, FSCA,  FSA in Seychelles, CBCS, FSC (Mauritius), and FSC (BVI)
• Axitrader is Regulated by 5 Regulatory Authorities including ASIC, SVG, FSA, DFSA, FCA
• BlackBull: Regulated by 2 Regulatory Authorities including FMA, FSA-S
• FP Markets: Regulated by 5 Regulatory Authorities including ASIC, CySEC, SVGFSA, FSCA
• XM: Regulated by 5 Regulatory Authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global)
• Eightcap: Regulated by 5 Regulatory Authorities including ASIC, FCA, CySEC, SCB, and FSASVG
• ThinkMarkets: Regulated by 10 Regulatory Authorities including ASIC, CySEC, FCA, FSA, FSC, NZFMA, DFSA, JFSA, FSCA, CIMA
• FBS: Regulated by 3 Regulatory Authorities including Cysec, ASIC, FSC-Belize

How Did We Select the Best Forex Brokers in Mongolia?

Research

To identify the best forex brokers in Mongolia, we conducted extensive research, focusing on the features, services, and regulations associated with each broker. We analyzed market trends, broker offerings, and user feedback to understand what traders value most. This comprehensive approach allowed us to build a solid foundation for our evaluations.

Data Collection

We gathered data from a variety of reliable sources, including official regulatory bodies, broker websites, and reputable financial news platforms. This data encompassed key metrics such as trading fees, available assets, leverage options, and client support services. Additionally, we considered user reviews and testimonials to gauge trader satisfaction and experiences.

Verification

After collecting data, we verified the information to ensure accuracy and reliability. This step involved cross-referencing details from multiple sources, including regulatory websites and independent reviews. By ensuring that our data is accurate, we aim to present an honest assessment of each broker’s strengths and weaknesses.

Live Testing

To provide a real-world perspective, we conducted live testing of the shortlisted brokers. This involved opening demo accounts and executing trades to evaluate the trading platforms, order execution speed, and customer service responsiveness. Our live testing process allowed us to assess each broker’s performance under actual market conditions, providing valuable insights into their functionality.

Scoring

Finally, we scored each broker based on a set of criteria, including regulatory compliance, trading costs, platform usability, available trading instruments, customer support, and overall user experience. Each category was assigned a specific weight, reflecting its importance in the trading process. The scores helped us rank the brokers, ensuring that our recommendations align with the needs and preferences of traders in Mongolia.

Things We Considered:

Regulation: We ensure the broker is regulated by trusted authorities like FCA, CySEC, or ASIC for client safety and fund protection.

Fees and Costs: We compare spreads, commissions, withdrawal fees, and swap charges to assess overall trading costs.

Trading Platform: We test platforms for features, usability, charting tools, and mobile compatibility to ensure a smooth experience.

Market Availability: We review the broker’s range of instruments, including forex pairs, CFDs, and cryptocurrencies, to offer diverse trading opportunities.

Customer Support: We evaluate the quality and availability of customer support, including live chat, email, and multilingual options.

Educational Resources: We check for comprehensive learning tools such as webinars, tutorials, and strategy guides to support trader development.

Final Verdict

Based on our research and broker ratings, the best overall forex broker in Mongolian is Pepperstone. The broker is globally recognized for its regulation by ASIC, FCA, and CySEC, offering low spreads, fast execution, and multiple trading platforms such as MT4, MT5, cTrader, and TradingView. Pepperstone provides access to a wide range of instruments, including forex, CFDs, cryptocurrencies, and stocks, making it a reliable choice for Mongolian traders.

eToro is known for its social trading platform, ideal for beginners looking to copy expert traders. Exness offers instant deposits and withdrawals and provides 24/7 customer service. XM is recognized for its deposit bonus of up to $5,000 and negative balance protection. FBS attracts traders with leverage up to 1:3000, making it appealing to experienced traders who are looking for higher leverage options.

Our Methodology:

Our team developed over 170 data points grouped into 6 macro areas for assessing the performance of forex brokers. They are as follows:

• Regulation and Security
• Fees and Commissions
• Trading
• Trading tools
• Customer Support
• Trading Education

Our team collated information from various sources and verified them before assessment and rating. We tested the services offered by the brokers using various devices, software, and strategies. Final fact-checking, evaluation, and editing were done and the best brokers were selected. To find out more, read our methodology.