#1 Rated Broker

Plus500

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38 brokers ranked No paid placements

Best Forex Brokers in Somalia 2026

Top forex brokers accepting traders from Somalia. Compare regulation, spreads, leverage, and execution quality.

Updated 28 May 2026Rankings are editorially independent — never influenced by commercial partnerships

Based on our 2026 quantitative rating of 38 brokers, Plus500 (3.98/5), Libertex, and Phillip Capital rank as the top choices. Plus500 leads with regulation from FCA, CySEC and 0.6 pips min spread. Rankings are calculated algorithmically — no paid placements.

#1 Plus500 — 3.98/5 · Regulated: FCA, CySEC · Min deposit: $100
#2 Libertex — 3.69/5 · Regulated: CySEC
#3 Phillip Capital — 3.74/5 · Regulated: MAS, ASIC

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38 brokers

Top Picks

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Plus500

FCAASICMASCySEC

4.0/ 5

Min. Deposit

$100

Max Leverage

1:300

Spreads From

0.6 pips

Commission

Commission-free

Regulated in multiple jurisdictions
Simple, beginner-friendly platform

Fees Regulation

Visit Broker Review

Libertex

CySEC

3.7/ 5

Min. Deposit

$10

Max Leverage

1:999

Spreads From

0 pips

Commission

Commission-free

Supports MT4 and MT5
25+ years in the market

Fees Regulation

Visit Broker Review

Phillip Capital

MASASIC

3.7/ 5

Min. Deposit

Max Leverage

1:5

Spreads From

0 pips

Commission

0.08

MAS and ASIC regulated
POEMS platform with wide market access

Fees Regulation

Visit Broker Review

Also Ranked — 35 brokers

Dukascopy

FCAMAS

3.7/ 5

Min. Deposit

$100

Max Leverage

1:200

Spreads From

0.1 pips

Commission

3.5

Historical tick data available
ECN model with deep liquidity

Fees Regulation

Visit Broker Review

IronFX

FCAASICCySECFSCA

3.7/ 5

Min. Deposit

$100

Max Leverage

1:1000

Spreads From

0 pips

Commission

500+ instruments
Strong presence in Africa and Middle East

Fees Regulation

Visit Broker Review

FXCM

FCAASIC

3.7/ 5

Min. Deposit

$50

Max Leverage

1:400

Spreads From

0.2 pips

Commission

Commission-free

Trading Station proprietary platform
Automated trading support

Fees Regulation

Visit Broker Review

FxOpen

FCAASIC

3.7/ 5

Min. Deposit

Max Leverage

1:500

Spreads From

0 pips

Commission

1.5

Very low minimum deposit ($1)
ECN execution available

Fees Regulation

Visit Broker Review

MultiBank Group

ASICFCACySEC

3.6/ 5

Min. Deposit

$50

Max Leverage

1:500

Spreads From

0 pips

Commission

Strong institutional backing
Heavily regulated (14+ regulators)

Fees Regulation

Visit Broker Review

InstaForex

CySECFSA

3.6/ 5

Min. Deposit

Max Leverage

1:1000

Spreads From

0 pips

Commission

Commission-free

Minimum deposit from $1
PAMM accounts and copy trading

Fees Regulation

Visit Broker Review

#10

FXTM

FCACySECFSCA

3.6/ 5

Min. Deposit

$10

Max Leverage

1:2000

Spreads From

0.1 pips

Commission

0.5

Very low minimum deposit ($10)
Strong regulation (FCA, CySEC)

Fees Regulation

Visit Broker Review

#11

ActivTrades

FCACySEC

3.6/ 5

Min. Deposit

Max Leverage

1:400

Spreads From

0.5 pips

Commission

Commission-free

SmartOrder risk management tools
Proprietary ActivTrader platform plus MT4/MT5

Fees Regulation

Visit Broker Review

#12

NAGA

CySEC

3.5/ 5

Min. Deposit

$250

Max Leverage

1:500

Spreads From

0.7 pips

Commission

Commission-free

MT4 and MT5 supported
Crypto included

Fees Regulation

Visit Broker Review

#13

Skilling

CySECFSA

3.5/ 5

Min. Deposit

$100

Max Leverage

1:30

Spreads From

0.7 pips

Commission

Commission-free

cTrader platform available
CySEC regulated — EU investor protection

Fees Regulation

Visit Broker Review

#14

HYCM

FCACySECDFSA

3.4/ 5

Min. Deposit

$100

Max Leverage

1:500

Spreads From

0.2 pips

Commission

Commission-free

Negative balance protection
Founded 1977 — one of the oldest CFD brokers

Fees Regulation

Visit Broker Review

#15

GO Markets

ASICCySEC

3.3/ 5

Min. Deposit

$200

Max Leverage

1:500

Spreads From

0.1 pips

Commission

Good MT4/MT5 support
ASIC and CySEC regulated

Fees Regulation

Visit Broker Review

#16

OCBC Securities

MAS

3.3/ 5

Min. Deposit

Max Leverage

1:5

Spreads From

0 pips

Commission

0.18

OCBC Bank — Singapore's third-largest bank
Multi-market: SGX, NYSE, HKEX, ASX

Fees Regulation

Visit Broker Review

#17

KGI Securities

MASFSC

3.3/ 5

Min. Deposit

Max Leverage

1:5

Spreads From

0 pips

Commission

0.08

Competitive 0.08% commission
Multi-market: Taiwan, Singapore, HK, US, Japan

Fees Regulation

Visit Broker Review

#18

CIMB Securities

MASSC

3.3/ 5

Min. Deposit

Max Leverage

1:5

Spreads From

0 pips

Commission

0.1

CIMB bank backing
iTrade platform for regional access

Fees Regulation

Visit Broker Review

#19

Tradeview

CIMA

3.3/ 5

Min. Deposit

$100

Max Leverage

1:500

Spreads From

0 pips

Commission

2.5

API trading
cTrader and MT4/MT5 available

Fees Regulation

Visit Broker Review

#20

mBank

KNF

3.3/ 5

Min. Deposit

Max Leverage

1:5

Spreads From

0 pips

Commission

0.19

Poland's largest online bank by customers
Warsaw Stock Exchange (WSE) access

Fees Regulation

Visit Broker Review

#21

FxPesa

CMA

3.3/ 5

Min. Deposit

Max Leverage

1:400

Spreads From

0.6 pips

Commission

Commission-free

MT5 platform
Accepts M-Pesa deposits

Fees Regulation

Visit Broker Review

#22

Windsor Brokers

CySECFSA

3.2/ 5

Min. Deposit

$100

Max Leverage

1:500

Spreads From

0 pips

Commission

Islamic accounts available
CySEC regulated

Fees Regulation

Visit Broker Review

#23

Pacific Union

FSCAFSA

3.2/ 5

Min. Deposit

$20

Max Leverage

1:500

Spreads From

0 pips

Commission

Low $20 minimum deposit
ECN execution

Fees Regulation

Visit Broker Review

#24

Weltrade

FSA

3.2/ 5

Min. Deposit

$25

Max Leverage

1:1000

Spreads From

0 pips

Commission

Commission-free

MT4 and MT5 support
Low minimum deposit ($25)

Fees Regulation

Visit Broker Review

#25

FXGT

CySECFSCA

3.2/ 5

Min. Deposit

Max Leverage

1:1000

Spreads From

0 pips

Commission

Commission-free

Very low minimum deposit ($5)
Crypto deposits accepted

Fees Regulation

Visit Broker Review

#26

Alpari

FSA

3.1/ 5

Min. Deposit

Max Leverage

1:1000

Spreads From

0.4 pips

Commission

Commission-free

Long track record since 1998
Very low minimum deposit ($5)

Fees Regulation

Visit Broker Review

#27

Valutrades

FCAFSA

3.1/ 5

Min. Deposit

$100

Max Leverage

1:500

Spreads From

0 pips

Commission

3.5

MT4 and MT5 support
Low minimum deposit

Fees Regulation

Visit Broker Review

#28

JustMarkets

CySEC

3.1/ 5

Min. Deposit

Max Leverage

1:3000

Spreads From

0 pips

Commission

Very high leverage available
Good range of markets

Fees Regulation

Visit Broker Review

#29

Orbex

CySEC

3.1/ 5

Min. Deposit

$200

Max Leverage

1:500

Spreads From

0.5 pips

Commission

Commission-free

Islamic accounts available
Supports MT4 and MT5

Fees Regulation

Visit Broker Review

#30

Grand Capital

FSA

3.1/ 5

Min. Deposit

$10

Max Leverage

1:500

Spreads From

0.4 pips

Commission

Commission-free

Cent accounts available
Very low minimum deposit ($10)

Fees Regulation

Visit Broker Review

#31

Hantec Markets

FCAASIC

3.1/ 5

Min. Deposit

$1000

Max Leverage

1:500

Spreads From

0 pips

Commission

Institutional-grade liquidity
30+ years in the industry

Fees Regulation

Visit Broker Review

#32

Coinexx

FSA

3.0/ 5

Min. Deposit

Max Leverage

1:500

Spreads From

0 pips

Commission

Anonymous trading available
ECN raw spreads

Fees Regulation

Visit Broker Review

#33

ACM Gold

FSCA

3.0/ 5

Min. Deposit

$100

Max Leverage

1:500

Spreads From

0.8 pips

Commission

Commission-free

Local customer support
FSCA regulated

Fees Regulation

Visit Broker Review

#34

Darwinex

FCA

3.0/ 5

Min. Deposit

$500

Max Leverage

1:30

Spreads From

0.8 pips

Commission

3.5

Transparent track records
FCA regulated

Fees Regulation

Visit Broker Review

#35

SuperForex

FSA

3.0/ 5

Min. Deposit

Max Leverage

1:3000

Spreads From

0 pips

Commission

Commission-free

Ultra-low $1 minimum deposit
Zero spread accounts available

Fees Regulation

Visit Broker Review

#36

NordFX

FSA

3.0/ 5

Min. Deposit

$10

Max Leverage

1:1000

Spreads From

0.9 pips

Commission

Commission-free

Very low minimum deposit ($10)
MT4 and MT5 available

Fees Regulation

Visit Broker Review

#37

Hugo's Way

FSA

2.9/ 5

Min. Deposit

$10

Max Leverage

1:500

Spreads From

0 pips

Commission

Low minimum deposit
High leverage

Fees Regulation

Visit Broker Review

#38

Axiory

FSA

2.9/ 5

Min. Deposit

$10

Max Leverage

1:777

Spreads From

0 pips

Commission

3.5

Competitive spreads
Fast execution

Fees Regulation

Visit Broker Review

Frequently Asked Questions

What should I look for when choosing a forex broker?

Focus on regulation (FCA, ASIC, CySEC), spreads and commissions, execution speed, leverage offered, and platform choice (MT4/MT5). Our ranking weights these factors algorithmically.

What is a good spread for forex trading?

Competitive EUR/USD spreads are below 1 pip on standard accounts and 0.1–0.3 pips on raw/ECN accounts. Brokers with tight spreads but commission charges often work out cheaper for active traders.

Is forex trading safe?

Forex is legal and safe when traded through a regulated broker. Look for brokers regulated by Tier-1 regulators such as the FCA (UK), ASIC (Australia), or CySEC (EU). Avoid unregulated offshore brokers.

Which is the top-rated broker in this list for 2026?

Based on our scoring algorithm, Plus500 currently ranks #1 with a score of 4.0/5. Scores are recalculated every 24 hours as broker data changes.

Our #1 pick for 2026

Plus500

FCA ASIC4.0/5

Visit Broker Full Review

How do we rank brokers?

Our algorithm weights regulation (25%), fees (20%), platform (15%), markets (10%), trust (15%) and UX (15%). No paid placements — ever.

Full methodology

Trading involves risk of loss. Rankings are for informational purposes only — not financial advice. Full risk disclosure.

Our Partner Brokers

View all rankings

We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.

FxPro

4.1

FCA

Visit

3.9

FCA

Visit

Libertex

3.7

Visit

Best Forex Brokers in Somalia 2026

Plus500

Libertex

Phillip Capital

Dukascopy

IronFX

FXCM

FxOpen

MultiBank Group

InstaForex

FXTM

ActivTrades

NAGA

Skilling

HYCM

GO Markets

OCBC Securities

KGI Securities

CIMB Securities

Tradeview

mBank

FxPesa

Windsor Brokers

Pacific Union

Weltrade

FXGT

Alpari

Valutrades

JustMarkets

Orbex

Grand Capital

Hantec Markets

Coinexx

ACM Gold

Darwinex

SuperForex

NordFX

Hugo's Way

Axiory

Frequently Asked Questions

What should I look for when choosing a forex broker?

What is a good spread for forex trading?

Is forex trading safe?

Which is the top-rated broker in this list for 2026?

Key Trading Terms

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