Forex trading in Brunei: market review and top online brokers

Brunei Darussalam is a Sultanate in South-East Asia on the northern coast of Borneo. A British protectorate until 1984, it has a well-educated largely English-speaking population, great infrastructure, and a government, focused on diversifying the economy and attracting foreign investment flows into the country.

According to official data, despite constant attempts to diversificate, Brunei’s economy is still overwhelmingly dependent on the income obtained from the import of oil and gas, which represents 90% of Brunei’s total exports and 65 % of the country’s GDP. Also, substantial revenue from Brunei’s government’s foreign investments is represented by income from domestic hydrocarbon production.

This money flows supports comfortable quality of life for Brunei’s population. Citizens pay no taxes and receive free medical care, education at the university level, and subsidized housing. As you see, Brunei Darussalam is a dynamic, wealthy economy that is a combination of both foreign and domestic entrepreneurship, which makes Forex Trading in Brunei an integral part.

Online trading instruments in Brunei

As one of the global fast-growing and modern economies, Brunei is one of the regional primary markets for commodities, foreign exchange, CFDs, and forms of equity. The wide range of instruments there gives traders the confidence they need to position themselves in a constantly changing market environment.

A list of the most popular instruments includes: 

Currency trading in Brunei

Currency markets are the initial platform of exchange for global trade. In Brunei, to minimize the impact of foreign exchange volatility, there is an ability to trade not only the most popular pairs but also major Asian currencies. Five of the most popular trading pairs that include local currency are AUD/BND, GBP/BND, EUR/BND, NZD/BND, and USD/BND.

OANDA is a well-known broker for traders of any level. It offers trading in over 100 instruments including currency pairs, indices, commodities, bonds, and metals. There are 9 base currencies available in the company: EUR, GBP, CHF, USD, CAD, AUD, JPY, HKD, and SGD.

The broker is an excellent choice for new traders since there are demo accounts available together with detailed educational materials and market insights, and no minimum deposit requirement. With minimal commissions and spreads, a variety of trading instruments including Forex, Indices, Commodities, and Crypto including Bitcoin and Ether, advanced trading platforms, and mobile apps, there are also Forex bonuses of up to $1000 on your first deposit.

Commodity trading in Brunei

The economy of Brunei revolves around its huge reserves of natural gas and petroleum. The rapid growth in the global demand for commodities seen in recent decades is expected to continue as emerging markets modernize their infrastructure and rising middle classes seek higher-value products in greater quantities. 

HotForex is an international reliable broker with a presence in over 180 countries, 27 supported languages, and over 2.5 million active accounts. It offers online Forex and CFD trading on currencies, commodities, stocks, indices, Cryptos, and other instruments. In particular, HotForex provides low transaction costs and flexible leverage on Forex Gold trading. You can find more information about this trading instrument in our article.

To present its services internationally, HotForex is following the standards of multiple reputable global regulators such as FCA (UK), CySEC (Europe), FSCA (South Africa), DIFC (Dubai) and SFSA (Seychelles).

Also, it offers a Forex bonus of up to $5000 on your first deposit and a cumulative bonus on your deals of up to $8000. Moreover, HotForex created an HFcopy – Copy Trading feature where anyone can join as a follower or as a pro trading strategy provider.

CFDs trading in Brunei

A contract for difference is a method of trading that allows traders in Brunei to speculate on asset price movements. Traders can take either a long position (the asset price will go up) or a short position (the asset price will go down) when purchasing CFDs. When the contract time is up, the trader is paid the difference in the case of correct speculation or must pay the difference in the case of incorrect speculation. In Brunei, CFDs are a popular method of trading currencies, commodities, and stocks. 

Forex Trading in Brunei

Brunei boasts a population of over 437,483 potential Forex traders and its economy and population are still growing. The national middle class is also increasing, expanding the consumer base at the same time. Moreover, Brunei’s young population is highly knowledgeable in technology and the internet. 

Forex trading is allowed in Brunei. It is an integral part of import and export and investing internationally. The important thing is that when trading Forex you pick a safe and reputable broker that is regulated. It is not a problem – there are many international online brokers offering favorable trading conditions.

However, even with that level of tech mastery, finding a trustworthy, but the suitable broker may be challenging. Especially one that accepts Bruneian traders and allows these traders to invest in their currency, the Brunei Dollar (B$). It is pegged to the Singapore dollar at a one-to-one ratio, and the Singapore dollar is legal tender in the Sultanate.

How to start Forex trading in Brunei

The first thing first while starting Forex trading in Brunei, and is to open an account with a Forex broker and top it up. The process of opening an account, however, differs across brokers, and below are several only common steps.

Step 1: Get a speedy Internet connection

From mobile phones to desktop computers, nowadays, it’s possible to trade Forex from almost any device with a stable internet connection. Before taking advantage of that, make sure to check your connection, since numbers and values in trading are changing in the blink of an eye. 

Step 2: Choose a broker suitable for your trading level

There are both local and international brokers offering services to traders in Brunei, thus you have to be selective. The country has fewer restrictions on brokers, so some factors you have to consider before making the decision. Pay attention to the commission, spread, leverage, and minimum deposit. 

In other words, pay attention to FXTM (Forex Time). Even if you’re a trading newbie, it definitely can help you to build your trading skills with their free educational resources. The broker provides learner-friendly, easy-to-read manuals and introductions for beginners and intermediates alike. 

Moreover, FXTM offers multiple investment opportunities and attractive trading conditions as well as interesting trading tools and features, CopyTrading being the main one.

Step 3: Top up your account balance

Once you have a fully functional account, you’re good to deposit your trading funds. You can do it through a variety of methods, including bank cards, transfers, electronic wallets, etc. 

However, before funding your account with real money, here is one option you better pick as a trading newbie – a broker that provides a demo account! It is a great opportunity to try out different strategies or trade different currencies without taking any risks.

Alpari allows new users to open a demo account – a practical approach to learning the basics of trading. Another thing is that Alpari offers investors Forex PAMM accounts in line with its investment services. That’s a very solid advantage as many users are looking for a possibility to make some passive income in addition to or in replacement of active trading.

When your deposit clears, you can officially begin trading Forex by placing your first order through your broker. By doing so, you can also manage risk by expanding your approach. 

For example, you can trade on some brokers on your own, while on others you can use the copy-trading function, which gives you the opportunity to earn some passive income. It is perfect for beginners since you can follow professional traders and just mirror their moves. It will totally cover your experience gap and save you a lot of time if trading is not something you’d like to do round-the-clock!

NAGA Markets would be one of the best options if you’d like to do that and also looking for a broker that can provide you with advanced, but user-friendly trading tools and introduce you to the trading community at the same time. NAGA’s Autocopy is an innovative feature that lets you automatically copy leading traders on the platform and learn from their experience. 

Moreover, It offers a wide choice of trade instruments and educational bases to make trading more effective and secure. The last point is guaranteed by several reputable regulative bodies, those rules NAGA has to follow. 

Cryptocurrency trading in Brunei

Brunei has issued little guidance on cryptocurrencies other than to warn the public of its risks. According to the official website of the Central Bank of Brunei, Autoriti Monetari Brunei Darussalam (AMBD), Bitcoin and other cryptocurrencies are not recognized as legal tender. It means that the Central bank does not authorize and regulate their operations. However, this fact doesn’t make cryptocurrency illegal per se, but the public is advised to exercise extreme caution when dealing with such currencies that are privately issued.

According to Coinmarketcap, $33,041,233,986 USD worth of Bitcoin is traded daily around the world. And even if the cryptocurrency market in Brunei is relatively new, now it expands rapidly. One of the reasons for that popularity is that cryptocurrency works on decentralized assets, and things like interest rate changes and political instability do not affect them as much as, for example, traditional currency markets.

Due to a large young population in Brunei with growing income levels and widespread adaptation of online technology, cryptocurrency trading volume is increasing greatly.

If you’d like to benefit from that, then look at AvaTrade! While most brokers prefer to avoid cryptocurrencies and others normally offer Bitcoin and Ethereum, AvaTrade goes the extra mile and provides you with the entire range of these digital assets.

In addition to the opposite spectrum presented by such safe-haven assets like bonds and ETFs, cryptocurrencies offer an opportunity to diversify your portfolio with more volatile assets and higher risk-to-rewards potentials.

Forex market regulations in Brunei

Brunei is an exceptionally free-accessible market for Forex traders. There are fewer restrictions, and more domestic and international brokers are showing interest in operating there. 

Moreover, there are no rules or regulations that restrict the amount of money that you can deposit into an international brokerage account, you can freely convert Brunei dollars to any currency your broker offers, and you can take as much profit as possible from your trading so long as you are reporting all of your income.

There are also no limitations on the amount of leverage that you can use when you trade from Brunei. You might find local brokers offering up to 1:1000 leverage – tempting, but the risky level of margin trading.

Forex bonuses in Brunei

The bonus funds are there to help you grow as a trader and usually can be withdrawn once you’ve traded a certain number of lots or made a profit. Please, do not think that the Forex bonus is just free money for you to withdraw instantly. Bonus money is there to be traded and turned into profit and market experience.

Each broker that we recommend on our website is 100% legitimate and trustworthy, thus, all bonuses they offer are real and attainable. But different offers have different terms – please always read the terms and conditions for the bonus you are getting. The Forex bonus T&Cs are usually quite short and written to be understandable enough for an average person. Reading the terms will not only help you avoid a negative experience due to some misunderstanding; it will also help you make sure you can maximize your profit and withdraw the bonus funds in the end.

Forex deposit bonus

Forex deposit bonus requires you to make a deposit. Depending on the broker and bonus conditions, up to 100% can be added to the client’s initial deposit. This type of bonus can be highly beneficial for all traders, but especially experienced ones. For beginner traders, this is a great opportunity to try out different trading strategies with bonus money.

Brunei’s financial and Forex markets are extremely attractive because of their favorable conditions for doing business. Brokers are really keen on increasing their users’ number there, so they employ multiple means to achieve it. One is a trading bonus program. There under certain conditions, you can make an extra profit of $5000 or even $8000 on your deposit.

XM Group bonus in Brunei

This broker we already mentioned above. Possessing other advantages, XM Group also offers several bonus schemes. First – you can get a nice welcome no-deposit bonus of $30, so you can make your first trades without putting your money at risk. Another option – is a 50% deposit bonus with up to 20% added to larger deposits. The total bonus is up to $5000.

HotForex bonus in Brunei

Also the broker we already talked about. HotForex offers similar conditions: you deposit over $100 dollars to get 100% on your deposit – up to $8000 for trading. Also, it has a system of user accounts hierarchy, and each account level has its own bonus perks.

Best Forex brokers in Brunei

Since the first step on your Forex trading path is to open a trading account with a broker, you may be wondering which are the best Forex brokers in the world that accept clients from Brunei. In order to help you proceed faster, we have compiled a small list of the most respected Forex brokers available for people in Brunei. 

You may choose any of the brokers we mention below, as all of them are time-proven, regulators-verified companies that are the leading in terms of trading conditions and reliability, with millions of users all over the world.

OANDA in Brunei

OANDA – a reputable US-originated broker with millions of clients around the world and long history of operations – for more than 2 decades of work earned itself a stellar reputation among users, compiling with a slew of global regulators at the same time.

The broker is an excellent choice for new traders since there are demo accounts available together with detailed educational materials and market insights, and no minimum deposit requirement. With minimal commissions and spreads, a variety of trading instruments including Forex, Indices, Commodities, and Crypto including Bitcoin and Ether, advanced trading platforms, and mobile apps, there are also Forex bonuses of up to $1000 on your first deposit.

XM Group in Brunei

XM Group has been there for more than a decade and offers one of the broadest trading instrument choices with attractive trading conditions, numerous educational materials, and trade incentives. It is suitable for traders of all levels who want to have access to many market sectors and have their broker’s support as they go. 

And of course, we can’t forget the nicest part – XM Group offers three bonus program types, complementing them with free VPS and zero-fee deposits and withdrawals. You’ll get a 100% automatic entry bonus of up to $5000 on your deposit. 

HotForex in Brunei

HotForex is a well-established financial entity that has been in the industry for more than a decade. Belonging to the first tier of online trade brokers, it enjoys international trust with more than 2,5mln live accounts opened till now. A broad range of market research tools, trading instruments, and conditions puts it in a very competitive position. Specifically, leverage such as 1:1000, 1200+ instruments to choose from, bonuses up to 100%, and spreads as low as zero. 

Also, it provides some of the best market conditions on commodities trading (especially gold) as it offers traders the tightest spreads with no hidden fees and a very generous bonus for your first account top-up of up to $8000.

NAGA Markets in Brunei

NAGA is one of the top-rated brokers and one of the leading social investing platforms. By registering, you benefit from over 950 markets, including ETFs, Forex, commodities, crypto CFDs, a wide range of professional tools, and educational materials for traders of any level.

Together with more than a million users, you can trade and invest, learn from them, copy the best traders or become a trading pro yourself! As one, you’ll get an extra income, largely reduced commission, and a group of friends to discuss trading with. Or as a trading newbie, you can highly benefit from copying the most successful traders in real-time with a special NAGA auto-copy feature.

AvaTrade in Brunei

If you want to have access to more than 1250 assets, including Cryptocurrencies, 24/7 multilingual support all over the globe, then AvaTrade may be your choice. It is an international broker that is regulated by six international and regional financial authorities. So if you want to have safety combined with a wide choice of trading instruments and platforms, AvaTrade is that one.

FXTM (Forex Time) in Brunei

FXTM is an international online trading broker that provides users with an extensive educational base, investment opportunities, and attractive trading conditions. Moreover, it offers interesting trading tools and features, CopyTrading being the main one.

Alpari in Brunei

Alpari is a very experienced and versatile broker. It has an in-depth knowledge of the industry and provides users with various account types and platforms. Unlike many of its competitors, Alpari offers to investors PAMM accounts in line with its investment services. That’s a very strong advantage as many users are looking for an opportunity to earn passive income in addition to or in replacement of active trading.

So, if you’re looking for a solid combination of experience, reliability, and functionality in one broker, Alpari may be your choice.

If you’d like to diversify your portfolio and value all features, mentioned above, equally, then it’s a good thing that actually you don’t have to pick just one broker. Be sure to take full advantage of available demo accounts to test all your strategies, and benefit from some of the most attractive bonus systems.

By registering and confirming an account with several of the TOP brokers in Brunei, you can not only compare trading platforms to find the most fitting one but also maximize the Forex bonuses you receive. It will allow you to conduct more tests of various trading strategies and set the way to become a real pro-trader.