A beginner’s guide to best Forex brokers in Nepal

The Federal Democratic Republic of Nepal is located in South Asia, with most of the country occupying the Himalayan region, while the others partially located at the Indo-Gangetic Plain. Nepal is a landlocked country, which borders Bangladesh, India, and Tibet.

With a total area reaching 147, 516 square kilometers and with a population of over 28,095,714 people, Nepal is the world’s 93rd largest country by the size of the territory and 49th largest by population.  Moreover, the country is one of the most ethnically diverse in the region, with over 16 ethnic groups residing in Nepal according to recent estimates.

When people think about Nepal, the first thing that comes to mind is almost certainly not Forex. It might be the world’s highest point – Mountain Everest, or the ancient culture and traditions, as well as astonishing geographic diversity.

Nevertheless, with the introduction of the new technological advancements, Nepal, like many other countries in the world, gained access to the world’s largest market – Forex. It is completely legal to trade Forex in Nepal, however, it does not mean that the local FX market is safe.

Since the Nepalese FX market is still relatively new, you might find it hard to find the best Nepalese Forex brokers. The reason for that is the fact that the market is not yet properly regulated, and, if not approached with enough caution, might cause you to fall victim to a fraud scheme disguised as a legitimate Forex broker. In this guide, we will provide you with everything you need to know to trade Forex safely and effectively in Nepal.

How to find an FX broker in Nepal?

The truth is, it is not easy. As mentioned earlier, the market is not yet properly regulated, which means that the chances of coming across various scams are quite high. In order to avoid that, you should prepare yourself for hours upon hours of extensive research and careful fact-checking, before making the final decision of which brokerage you should join.

Since we know just how hard, stressful, and time-consuming this process can be, we decided to help you out by calling upon our own distinguished team of experts to research all the options available for you in Nepal. What we came up with is a complete top Forex brokers list that you can find below. You can confidently approach any broker you see fit on this list, as we made sure that all the options presented there only operate with the best interests of their clients in mind.

XM Group

XM Group Forex Review

Minimum deposit




Maximum leverage


US Clients



An in-depth review of Exness Forex broker

Minimum deposit




Maximum leverage


US Clients


IQ Option

IQ Option Review – can the broker be trusted?

Minimum deposit

10 USD



Maximum leverage


US Clients



Forex.com Review

Minimum deposit

100 currency units



Maximum leverage


US Clients



EagleFX Review – Is it worth your time and money?

Minimum deposit

10 USD



Maximum leverage


US Clients



RoboForex Broker

Minimum deposit




Maximum leverage


US Clients


How is the Nepalese Forex market regulated?

As we have already mentioned, Nepal is yet to come up with an all-encompassing, comprehensive regulatory mechanism for the local Forex market. However, as of right now and according to the Securities Act 2016, the country’s main regulatory body is the Securities Board of Nepal (SEBON).

Although the regulatory measures of the FX market are far from ideal in Nepal, it does not mean that you should avoid trading Forex altogether. There is a variety of international brokers offering their services in Nepal, and if they possess an official license from a reputable regulatory body ( such as CySEC or FCA), you can be sure that your hard-earned funds will remain safe at all times.

However, one other thing to keep in mind while looking for the regulated Forex brokers in Nepal is that the license information that the broker discloses on its website might not always be true. Thus, we recommend that you always contact the relevant regulatory body directly to make an inquiry about each individual brokerage that you might be considering to join.

Who can become a Forex trader in Nepal?

As mentioned above, it is completely legal to trade Forex in Nepal, however, there are two main legal requirements that you, as a trader, should be able to meet. First of all, an individual has to be aged 18 or older in order to access the FX market. This condition is put in place to prevent minors from getting involved with a potentially risky financial enterprise.

Secondly, as a Forex trader in Nepal, you will be required to comply with the country’s tax laws, and pay your taxes, including the capital gains tax on Forex profits. Having met both of those requirements, you will be able to start trading freely in no time.

The only other conditions you should worry about are those put forward by the best Forex broker in Nepal, that you will end up joining. Such requirements are pretty straight forward too, and will usually revolve around your employment status and monthly income.

Is it free to become a Forex trader in Nepal?

It is and it is not at the same time. It is completely free to sign up with a brokerage of your choice, and even start using the demo account that it might be offering. However, you should remember that Forex trading is a form of financial investment which means that you cannot avoid investing some money into it.

Most brokerages will have their own requirements for the minimum deposit that you will have to make in order to access the actual market. Usually, such requirements range between 5 to 500 USD or equivalent, and you can easily find what suits you best.

One major factor that you should keep in mind while looking for the best Nepalese Forex brokers in 2021 is that you should only deposit what you will be comfortable losing, and that should be the way of approaching the minimum deposit threshold.

How can you learn Forex trading in Nepal?

One unique feature, that the Nepalese FX traders can benefit from is the number of various institutions offering educational courses on how to trade Forex.  If you seek educational courses like this, you will come across both free and paid ones, although we recommend joining the former.

Moreover, various Nepalese brokers in 2021 offer their own, free educational material to their clients. Finally, if you are only just beginning to explore the field of Forex trading and are still wary of going straight into trading with real money, we recommend that use the aforementioned demo accounts This way you can get a taste of what the real FX market encompasses and what are the unique features of the trading platform that you will be using.

Which trading platforms do Nepalese FX brokers use?

While looking for a Nepalese Forex broker to join, you will find a variety of trading platforms to choose from. Some brokers prefer custom-made trading software, while others are offering some of the more popular alternatives, such as cTrader or MetaTrader 4 and MetaTrader 5.

The latter two are often advised by the professional traders as the best option for beginners. First introduced in 2005 by the Russian company called MetaQuotes, this trading software has rapidly grown in popularity and is now used by almost 90% of the brokers from all over the world.

Both MT4 and MT5 are very reliable, user-friendly, and easy to navigate. On top of the unique trading features, such as trading via the chart, and automated trading, you will be able to benefit from the large volumes of educational and informational material available in the large community of MetaTrader users.

Regardless of what you will end up choosing, you should keep in mind that finding the best trading platform in Nepal can be one of the most important components of your future trading success, as it is the trading platfrom that will define bot your exposure to various trading instruments, as well as the efficient and timely execution of your orders.

What is are the payment methods that Forex brokers in Nepal accept?

Similarly, in Nepal, there is a variety of payment methods to choose from. The most popular one is the payment via the credit/ debit card ( Visa, MasterCard), as well as the direct wire transfers and cash. Moreover, eWallets and online payment solutions are gaining popularity in this country.

What is the Nepalese national economy like?

With a population of over 28 million people, Nepal’s GDP amounts to 94 billion USD and a GPD per capita of 3,318 USD. Nepal is currently considered to be one of the fastest-growing economies in the world, and its annual growth is expected to increase in the next few years.

Nepal’s main exported goods include paper products, medicinal herbs, ready-made garments, handicrafts, leather, pulses, and carpers. As you can probably tell, by joining one of the top brokers in Nepal, you will be able to keep your trading profile pretty diverse.

The national currency of Nepal is the Nepalese rupee, coded as NPR. The NPR is issued and controlled by the country’s central bank – Nepal Rastra Bank. However, this currency is not very popular, neither among the local traders nor elsewhere in the world.

If you are a beginner, it is advised that you avoid trading exotic currencies, such as the Nepalese rupee, and resort to the major currency pair instead. Pairs like USD/EUR, or GBP/USD are less subjected to volatility and are less likely to cause significant financial losses.

Moreover, if you are confident in your trading skills and still wish to trade the NPR, we should warn you that you will not be able to make deposits in this currency. What this means is that even if you join one of the best online trading platforms in Nepal, you will still not be able to avoid large commission fees and high exchange rates.

Pros and Cons of joining Forex trading brokers in Nepal

Joining the field of Forex trading is not an easy decision to make, and one should be fully aware of all the potential advantages and disadvantages. Thus, below we offer you a list of the main pros and cons of trading Forex in Nepal:


  • Nepalese national economy is one of the fastest developing in the world, and the local Forex market has the potential of becoming one of the largest in the region
  • There is a variety of international and local brokers to choose from on the list of best Forex brokers in Nepal


  • The local Forex market is not yet properly regulated
  • The country is still faced with poverty and many other economic challenges

Forex trading in Nepal: the final verdict

Overall, we can conclude that the Nepalese Forex market has a lot to offer to the local traders.  As the national economy is recovering from the past hardships and developing in a rapid speed, Nepalese government authorities are adopting new measures to ensure a safer, healthier environment for the local Forex market to flourish.

If you are currently residing in Nepal, and have long been interested in trading  Forex, we recommend that you explore the list of best Forex brokers in Nepal, and the specific features that you, as a trader, can benefit from in this country.