Kuwait’s CBK Regulated Forex Brokers

Home » Kuwait’s CBK Regulated Forex Brokers

Are you searching for the best CBK regulated brokers in Kuwait? Well done – you’re in the right place! Our experts have decades of experience in the finance and trading industries. We’re here to share our insight into the best brokers regulated by CBK and give you all the information you need to trade safely.

Forex trading in Kuwait is becoming increasingly popular. Much like many other countries across the globe, investors are looking for new ways to increase their savings, and real estate, stocks and shares, and equities are no longer popular for the masses. This is one of the reasons trading has taken on so quickly.

When it comes to choosing brokers in Kuwait, there are a number of factors to bear in mind. The most important is whether the broker you are considering is licensed and regulated by a recognized regulatory body. If you are a resident in Kuwait, you should be considering CBK regulated brokers.

Best and most trusted forex brokers in July 2024

Fully automated MT4 trader, limited to 9 currency pairs.
Starting price: $199

5.0

Verified trading by Mislav Nikolic & Chris Svorcik.
Starting price: €199

5.0

FXTM’s Dow Jones news advisor comes with in-built calendar events.
Starting price: $10

5.0

Cryptocurrency Trading
60+ tradable instruments
Min Deposit: $5

4.8

Leverage Up to
1:200
Min Deposit: N/A

4.8

Finding the best CBK regulated brokers

Our experts are able to show you the best CBK regulated brokers along with some of the finest brokers available across the globe. Take a look at the table above for a handful of our experts’ favorite online brokers.

Choose CBK regulated brokers in Kuwait for safety

When it comes to trading one of the most important decisions you’ll have to make is your choice of forex broker. There are thousands to choose from, so where should you start?

Before you consider the trading environment the broker is making available ,your first port of call should be to check their license and regulation. Unfortunately, the increase of online trading platforms available has led to a number of brokers setting up business without any form of license or bona fide supervision. This leaves you wide open to falling victim of fraud.

Trading has no centralized marketplace and operates without a central exchange or clearing house. The only supervision of the market and its participants is undertaken by various regulatory bodies. Whether a broker chooses to be licensed and regulated is entirely up to them. The various regulatory bodies are assigned the task of watchdog, providing licenses to those of good standing and with enough funds to run such a business. In the case of Kuwait, this is the Central Bank.

Why is finding a CBK regulated broker important?

The forex market is currently one of the world’s biggest financial markets. Almost $4 billion in trades are conducted every day. While it was originally the exclusive domain of banks and large corporations, things have changed recently and more ordinary people, just like you, are choosing to trade with forex brokers. This has meant there is a greater need for increased surveillance and regulation.

The procedures for regulation aren’t the easiest. They can be very time-consuming and costly, which is why a number of brokers choose not to follow such a path. Another problem with regulation is it is not consistent, and can be very different depending on your location. But whatever the regulations, something is better than nothing at all.

Avoiding broker scams

The biggest risk for traders like you is illegal activity or schemes. Some examples are excessive commissions, high-pressure tactics, misrepresentation, and Ponzi schemes. Choosing a regulated broker in Kuwait will significantly reduce such risks. However, we should stress it doesn’t guarantee a broker will be 100% honest and above board. You will still need to stay vigilant and keep an eye on your trading account and your broker, be it in Kuwait or anywhere in the world.

What is the CBK?

CBK stands for Central Bank of Kuwait, and this is the body which offers a strict currency system on behalf of the State of Kuwait. It is also responsible for regulating the Kuwait stock market as well as the Kuwait Stock Exchange, the Ministry of Commerce and Industry and the Ministry of Finance.

The Central Bank of Kuwait has been around for more than four decades. It was established following the passing of Law No 32 in 1968, which was concerned with currency, the Central Bank of Kuwait and the organization of banking business. The Central Bank replaced the Kuwaiti Currency Board, but is responsible for far more than just the issuance of banknotes and coins. Its core objectives are listed as:

Central Bank Kuwait logo
  • Issuing the national currency on behalf of the State
  • Directing credit policy so as to contribute to the economic and social progress
  • Enhancing the national income
  • Stabilizing the Kuwaiti dinar and enabling its free convertibility into other currencies
  • Serving as a banker to the Kuwaiti government
  • Supervising the State’s banking system
  • Serving as a governmental financial adviser

What does the CBK do?

Those of you considering forex trading, and the need for finding CBK brokers, are also going to be interested in its supervisory functions. These include:

  • Studying and analyzing the operations of new entrants in the banking and financial system
  • Making proposals and recommendations for remedying problems faced by those under CBK supervision, including the very best CBK regulated brokers
  • Developing and organizing the banking and financial systems of Kuwait as well as coordinating the work of both to enhance their role in the economy
  • Analyzing data and information passed to the CBK by supervised entities and presenting any recommendations and proposals
  • Conducting inspections of all regulated bodies in order to determine whether they are operating in compliance with CBK laws, other laws and resolutions
  • Upgrading supervisory policies and procedures to ensure they are in line with international standards

How to complain about a broker to the CBK

The CBK has a Consumer Protection Unit which is tasked with consumer complaints. It is not authorized to deal with complaints pertaining to unregulated entities.

The first step with any complaint is to contact the company and try and resolve the issue with them. Should you be unhappy with the resolution, you will be able to raise a complaint using CBK’s online complaint form. You will be required to include a copy of the company’s response to your complaint and any other relevant documentation.

The issue will be investigated and you will be advised of any action the CBK decides to take. Whether you choose CBK brokers or an unregulated brokerage firm is entirely your decision. However, we can only stress the importance of choosing CBK regulated brokers to afford yourself the best possible protection.

How to check if a broker is CBK regulated

The quickest way to find a CBK regulated broker is to check the broker’s website. If they’re regulated, the license number will probably be visible at the bottom of the webpage. But you might want to double check this against the list of brokers on CBK’s website to make sure it’s 100% legitimate.

Other brokers by regulation authority

BCU forex brokersFSB forex brokersBFSC forex brokersMFSA forex brokers
CNMV forex brokersHCMC forex brokersFCMC forex brokersCNB forex brokers
MTR forex brokersMNB forex brokersPFSA forex brokersCSSF forex brokers

Frequently Asked Questions (FAQs)

What is CBK?

CBK stands for the Central Bank of Kuwait. It’s responsible for overseeing brokers in Kuwait and ensuring they’re safe and secure for traders like you.

What does CBK do?

The CBK has many duties regarding brokers and other financial institutions. In terms of CBK regulated brokers, the CBK will help ensure that the companies are vetted, which makes a safer environment for traders – just as you’d find for brokers in Germany, the USA and so on.

Are CBK regulators safe?

The safest way to trade locally in Kuwait is to only use CBK regulated brokers. Safety should always be high on your agenda, and using CBK regulated brokers means you have the backing of the Central Bank of Kuwait if you run into any major issues. It’s also good to compare different brokers and find the best, safest one around.

What is a CBK regulated broker?

Simply put, a CBK regulated broker is a broker in Kuwait who has received a big green tick from the Central Bank of Kuwait. The CBK constantly analyzes and assesses brokers, so you know you have a high level of protection when using them.

How do I know if a broker is regulated by CBK?

Usually, you can see if a broker is regulated by the CBK on their website. Check the footer of the page, or the ‘About’ page. It’s also good practice to cross check this information with the official CBK website, too.

Related Articles

Top 5 Forex Brokers

✅ Accounts: $5K - $300K
✅ Profit Split: 90%
✅ Profit Targets: 10%

✅ Accounts: $4K - $100K
✅ Profit Split: 60-90%
✅ Profit Targets: 10%, 10%, 5%

✅ Accounts: $5K - $200K
✅ Profit Split: 80%
✅ Profit Targets: 8%, 5%

✅ Accounts: $5k - $100k
✅ Profit Split: up to 90%
✅ Profit Targets: 10%

✅ Accounts: $10k - $200k
✅ Profit Split: up to 100%
✅ Profit Targets: 10% (1-step), 8%/5% (2-step)

✅ Accounts: $25k - $200k
✅ Profit Split: 50% - 80%
✅ Profit Targets: 10%

Top Platform in 2024

✅ Accounts: $5K - $300K
✅ Profit Split: 90%
✅ Profit Targets: 10%

✅ Accounts: $4K - $100K
✅ Profit Split: 60-90%
✅ Profit Targets: 10%, 10%, 5%

✅ Accounts: $5K - $200K
✅ Profit Split: 80%
✅ Profit Targets: 8%, 5%

✅ Accounts: $5k - $100k
✅ Profit Split: up to 90%
✅ Profit Targets: 10%

✅ Accounts: $10k - $200k
✅ Profit Split: up to 100%
✅ Profit Targets: 10% (1-step), 8%/5% (2-step)

✅ Accounts: $25k - $200k
✅ Profit Split: 50% - 80%
✅ Profit Targets: 10%

Top Prop Firm in 2024

✅ Accounts: $5K - $300K
✅ Profit Split: 90%
✅ Profit Targets: 10%

✅ Accounts: $4K - $100K
✅ Profit Split: 60-90%
✅ Profit Targets: 10%, 10%, 5%

✅ Accounts: $5K - $200K
✅ Profit Split: 80%
✅ Profit Targets: 8%, 5%

✅ Accounts: $5k - $100k
✅ Profit Split: up to 90%
✅ Profit Targets: 10%

✅ Accounts: $10k - $200k
✅ Profit Split: up to 100%
✅ Profit Targets: 10% (1-step), 8%/5% (2-step)

✅ Accounts: $25k - $200k
✅ Profit Split: 50% - 80%
✅ Profit Targets: 10%