Kazakhstan’s forex trading landscape has evolved significantly, reflecting the country’s growing integration into global financial markets. Forex trading is legal and regulated in Kazakhstan, offering traders various opportunities to engage in currency markets.
Understanding the regulatory frameworks that shape the Kazakhstani forex sector is crucial for traders to navigate the market effectively. Thus, the team at RationalFX set out to explore Kazakhstan’s forex tax implications, the legal ways to trade currencies in the nation, what licensing requirements brokerages must meet to welcome local traders, and more. This publication also features our team of experts’ ranking of the top brokers that service forex devotees who reside in Kazakhstan.
Top 7 Forex Brokers in Kazakhstan
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Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
FP Markets
- Australia and CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
ActivTrades
- Winner of 20+ Global Awards
- MT4/MT5, TradingView
- Leverage up to 1:400
Trading InstrumentsDeposit Methods- Bonds CFDs
- Commodities CFDs
- Crypto CFDs
- ETF CFDs
- Forex CFDs
- Indices CFDs
- Share CFDs
-
IG
- Offers different account types, including DMA (Direct Market Access) one
- Offers turbo warrants on forex pairs, commodities, indices, and equities
- Supports popular platforms like MT4 and TradingView as well as ProRealTime, L2, and more
Trading InstrumentsDeposit Methods- Bond Futures
- Bond Options
- Bond Spread Betting
- Bonds CFDs
- Commodities CFDs
- Commodity Futures
- Commodity Options
- Commodity Spread Betting
- Crypto CFDs
- Crypto Options
- Crypto Spread Betting
- Currency Futures
- Energy CFDs
- Energy Futures
- Energy Options
- Energy Spread Betting
- ETF CFDs
- ETF Options
- ETF Spread Betting
- Forex CFDs
- Forex Options
- Forex Spread Betting
- Index Futures
- Index Options
- Index Spread Betting
- Indices CFDs
- Interest Rate Futures
- Metal Futures
- Metal Options
- Metals CFDs
- Metals Spread Betting
- Share CFDs
- Stock CFDs
- Stock Options
- Stock Spread Betting
- US Stock CFDs
- US Stock Options
- US Stock Spread Betting
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Eightcap
- Traders can enjoy competitive trading conditions through different account types
- Offers access to over 800 CFD markets through TradingView
- Platforms like MT4 and MT5 enable multi-device trading
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Share CFDs
-
Axi
- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
FBS
- Multiple banking options
- Great education section
- 300+ trading instruments
Trading InstrumentsDeposit Methods- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Share CFDs
Brokers Compared by Spread
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Fusion Markets |  |
$0 |
| FP Markets | |
$50 (AU$100) |
| ActivTrades | |
$0 |
| IG | |
$50 |
| Eightcap | |
$100 |
| Axi | |
$0 |
| FBS |  |
Cent accounts: $10; AU$50 (ASIC accounts) |
Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Fusion Markets | |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account) |
| FP Markets | |
1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:500 (FSAS | Retail Account) |
| ActivTrades | |
1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB) |
| IG | |
1:222 (BaFin | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (BaFin | Retail Account), 1:200 (BMA | Retail Account), 1:30 (FCA | Retail Account) |
| Eightcap | |
1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:500 (SCB | Retail Account) |
| Axi | |
1:500 (Elite Account), 1:400 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:500 (SVGFSA) |
| FBS | |
1:30 (ASIC), 1:30 (CySEC), 1:3000 (FSC), 1:500 (Pro Account), 1:30 (Retail Account) |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Fusion Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| FP Markets | |
cTrader, TradingView |
| ActivTrades | |
MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView |
| IG | |
MetaTrader 4, Proprietary Web, TradingView |
| Eightcap | |
MetaTrader 4, MetaTrader 5, TradingView |
| Axi | |
MetaTrader 4 |
| FBS | |
MetaTrader 5 |
Comprehensive Comparison of the Best Kazakhstan Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$0 |
|
AVG 0.93 pips |
|
|
 |
$50 (AU$100) |
|
AVG 1.2 pips |
|
|
 |
$0 |
|
AVG 0.5 pips |
|
|
 |
$50 |
|
AVG 1.13 pips |
|
|
 |
$100 |
|
AVG 1.1 pips |
|
|
 |
$0 |
|
AVG 0.1 pips |
|
|
 |
Cent accounts: $10; AU$50 (ASIC accounts) |
|
AVG 0.7 pips |
|
Legal Forms of Forex Trading in Kazakhstan
In Kazakhstan, forex trading encompasses various financial instruments, each with distinct characteristics and regulatory considerations. Today, traders can engage in the following forms of forex trading:
- Spot Trading
This involves the immediate exchange of currencies at current market rates. Traders buy or sell currency pairs with the expectation of profiting from short-term price movements. Spot trading is straightforward and widely practiced in Kazakhstan’s forex market - Contracts for Difference (CFDs)
CFDs allow traders to speculate on the price movements of currency pairs without owning the underlying assets. They can profit from both rising and falling markets by entering long or short positions. CFDs are popular due to their leverage options, enabling traders to control larger positions with a smaller capital outlay. - Futures Contracts
These are standardized agreements to buy or sell a specific currency at a predetermined price on a set future date. Futures are commonly used for hedging and speculative purposes. In Kazakhstan, futures trading is facilitated through regulated exchanges, providing transparency and reducing counterparty risk. - Options
Options give traders the right, but not the obligation, to buy or sell a currency pair at a specified price before a certain date. They are versatile instruments used for hedging and speculative strategies, allowing traders to manage risk while potentially benefiting from favorable market movements. - Forward
Similar to futures, forward contracts involve the agreement to exchange currencies at a future date for a price agreed upon today. Unlike futures, forwards are customizable and traded over-the-counter (OTC), allowing parties to tailor terms to their specific needs. - Spread Betting on Currency Pairs
This form of trading involves placing bets on the price movement of currency pairs without actually owning the currencies. Profits or losses are determined by the accuracy of the trader’s prediction and the extent of the price movement. It’s important to note that spread betting’s legality and regulatory status can vary, and traders should consult local regulations.
Restrictions on Forex Trading in Kazakhstan
Kazakhstan has implemented specific regulations to govern currency trading activities, aiming to protect investors and maintain financial stability. These restrictions pertain to certain trading instruments and practices:
- Contracts for Difference (CFDs) Involving Fiat and Cryptocurrency Crosses: CFDs allow traders to speculate on price movements without owning the underlying asset. In Kazakhstan, trading CFDs on fiat currency pairs is permitted under regulatory oversight. However, CFDs involving cryptocurrency crosses are subject to stricter scrutiny due to the inherent volatility and risks associated with digital assets. Traders must ensure compliance with local regulations when engaging in such activities
- Binary Options: Binary options are financial instruments where traders predict the outcome of a yes/no proposition, typically related to whether an asset’s price will be above or below a certain level at a specific time. Due to their speculative nature and the high risk of loss, binary options trading is prohibited in Kazakhstan. This ban aims to protect investors from potential fraud and significant financial losses.
It’s essential for traders and brokers operating in Kazakhstan to stay informed about these restrictions and adhere to the regulatory framework to ensure lawful and ethical trading practices.
Forex Trading Regulations in Kazakhstan
As of January 2025, forex trading in Kazakhstan is regulated by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM). This regulatory body was established to oversee the financial sector and ensure market stability, transparency, and investor protection. The ARDFM is responsible for licensing forex brokers, monitoring their activities, and enforcing compliance with financial laws.
Key Responsibilities of the ARDFM:
- Licensing and Supervision: Forex brokers operating in Kazakhstan must obtain a license from the ARDFM and adhere to its regulatory framework.
- Consumer Protection: The agency ensures that brokers provide fair trading conditions, prevent fraudulent activities, and maintain transparency in pricing and execution.
- Market Stability: ARDFM works to minimize financial risks by implementing measures such as leverage restrictions and fund segregation requirements.
- Enforcement of Compliance: Brokers failing to meet regulatory standards may face fines, license revocation, or legal action.
In addition to the ARDFM, the National Bank of Kazakhstan (NBK), plays a crucial role in overseeing the broader financial system. While its primary functions include monetary policy implementation, exchange rate regulation, and inflation control, it also collaborates with the ARDFM to ensure a cohesive regulatory environment for forex trading. The National Bank may introduce policies that impact currency trading, such as capital controls or restrictions on foreign exchange transactions.
Requirements for Forex Brokers in Kazakhstan
Forex brokers operating in Kazakhstan must comply with strict regulatory requirements set by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM). These regulations ensure transparency, protect investors, and maintain market integrity.
- Licensing and Legal Structure
- Corporate Registration: Brokers must register as a legal entity within Kazakhstan, typically as a Limited Liability Partnership (LLP) or a Joint Stock Company.
- Regulatory Approval: A license from the ARDFM is required, which involves submitting a business plan, proof of financial stability, and a risk management framework.
- Capital Requirements
Minimum Capitalization: Brokers must maintain a minimum capital reserve to ensure financial stability and cover potential client losses. The exact amount is set by the regulator and varies based on the broker’s business model. - Client Fund Protection
- Fund Segregation: Brokers must keep client funds separate from their own operational accounts to protect traders in case of insolvency.
- Negative Balance Protection: Brokers are required to prevent clients from losing more than their deposited amount, reducing financial risks for retail traders.
- Leverage Restrictions
- Retail Leverage Limits: The NBK imposes caps on leverage to reduce excessive risk-taking. For retail traders, leverage is typically restricted to levels that minimize the chance of extreme losses.
- Risk Management and Disclosures
- Risk Disclaimers: Brokers must provide clear risk warnings to traders, ensuring they understand the potential for financial losses.
- Automatic Margin Closeouts: Brokers must implement automated margin calls to prevent traders’ accounts from going into negative equity.
- Compliance and Reporting
- Ongoing Regulatory Reporting: Brokers must submit financial statements and compliance reports to the ARDFM regularly.
- AML and KYC Policies: Strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies are mandatory to prevent fraud and illicit activities.
Taxes on Forex Trading Profits in Kazakhstan
Profits from forex trading in Kazakhstan are subject to taxation, with tax obligations varying based on whether the trader is an individual or a corporate entity.
For Individuals
- Taxable Income: Forex trading profits are considered personal income and must be reported in annual tax returns.
- Tax Rate: Kazakhstan has a flat 10% personal income tax on most earnings, including forex gains. However, additional tax obligations may apply depending on total income and deductions.
- Tax Reporting: Traders must maintain records of all transactions, including deposits, withdrawals, and profits, to ensure accurate reporting.
For Corporations
- Taxable Income: Companies engaged in forex trading must pay corporate income tax on net profits.
- Tax Rate: The standard corporate tax rate in Kazakhstan is 20%, applied to total business income, including forex gains.
- Withholding Tax: Non-resident entities receiving forex-related earnings from Kazakhstan may be subject to a 15% withholding tax, which can be reduced under tax treaties.
Additional Considerations
- Foreign Exchange Gains: Profits from currency fluctuations must be included in taxable income.
- Record-Keeping: Proper documentation of all trades and transactions is essential for compliance.
- Professional Advice: Since tax laws may change, consulting a tax professional ensures full compliance with the latest regulations.
How to Find a Reliable Forex Broker in Kazakhstan
When selecting a forex broker in Kazakhstan, it is essential to prioritize security, transparency, and reliability. Here are the key factors to consider:
-
Regulatory Compliance
Choose brokers licensed by reputable regulators, such as the Agency for Regulation and Development of the Financial Market of Kazakhstan (ARDFM) and the National Bank of Kazakhstan (NBK). A valid license ensures that the broker adheres to strict standards and legal requirements. -
Transparent Pricing
Look for brokers offering competitive spreads with clear fee structures. Transparent pricing helps you avoid hidden costs and ensures that your trading profits are not eroded by excessive fees. -
User-Friendly Trading Platforms
A reliable broker should offer a robust, easy-to-navigate platform with essential tools like real-time data, technical analysis, and efficient order execution. -
Diverse Range of Assets
Choose brokers that provide access to a wide range of currency pairs and other financial instruments, allowing you to diversify your portfolio and take advantage of different market opportunities. -
Efficient Customer Support
Responsive customer service is crucial. Ensure the broker offers multiple communication channels, such as phone, email, and live chat, with support in your preferred language. -
Positive Reputation
Research the broker’s reputation by reading reviews from other traders. Consistently positive feedback is an indicator of reliability and trustworthiness.
FAQs
Is forex trading legal in Kazakhstan?
Yes, forex trading is legal in Kazakhstan. The country’s financial market is regulated by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM), which ensures that brokers adhere to strict standards. Traders can legally participate in forex trading, provided they comply with the regulations.
Do I need to pay taxes on forex trading profits in Kazakhstan?
Yes, forex trading profits are subject to taxation in Kazakhstan. Individual traders must report their forex gains as personal income, with taxes applied based on their income bracket. Corporate traders are taxed at a corporate income tax rate of 20% on profits.
How do I choose a reliable forex broker in Kazakhstan?
To choose a trustworthy broker, look for one regulated by the ARDFM or other reputable international authorities, such as the UK Financial Conduct Authority (FCA). Also, ensure the broker offers transparent pricing, user-friendly platforms, diverse assets, and responsive customer support.
What leverage is available for retail forex traders in Kazakhstan?
Leverage for retail forex traders is capped by the ARDFM to limit excessive risk. The exact leverage limit may vary depending on the broker, but it is generally lower than in more lightly regulated markets to protect retail investors.
Can I trade cryptocurrencies through forex brokers in Kazakhstan?
Some forex brokers offer cryptocurrency trading alongside traditional currency pairs. However, regulations regarding cryptocurrencies are evolving in Kazakhstan, and traders should ensure their chosen broker adheres to the latest legal frameworks.
Are forex brokers in Kazakhstan required to segregate client funds?
Yes, brokers in Kazakhstan must keep client funds separate from their operational accounts, ensuring that client assets are protected in case of the broker’s financial difficulties.
Why You Should Trust RationalFX
When it comes to making informed decisions about forex brokers, it's essential to rely on trustworthy sources. RationalFX, a company with over 20 years of experience since its founding in 2005, has established itself as a credible authority in the industry. With an impressive collection of over 2500 reviews on Trustpilot, boasting a score of 4.2, it's clear that Rational FX has built a reputation for providing reliable and unbiased information.
What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker's service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at feedback@rationalfx.com or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.