KWD Trading Account
By Stéphane on 29/10/2023
Do you wonder which broker offers a KWD account? Look no more. We've reached out to 20+ Forex brokers, and found the following brokers with a KWD trading account.
Exness.com is an offshore broker trusted by over 500,000 active clients. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage (conditions apply).
- Low and stable spreads.
- No swap charges across most FX pairs.
- Unlimited leverage on MetaTrader 4 and 5 (conditions apply).
- Withdrawals processed instantly in a wide range of currencies.
- Negative balance protection is available.
- No access to a compensation fund in the event of bankruptcy.
- No CFDs on agricultural commodities, ETFs or government bonds.
Exness.com allows you to open a Forex trading account in Kuwaiti Dinars, alongside 43 other currencies including USD, EUR, GBP, AUD, CAD, SGD, SAR, BHD and OMR. You'll find the full list of currencies for your trading account in its Help Center.
Exness is global broker, recognised as "Global Broker of the Year" at the 2023 Forex Traders summit in Dubai. Trade Forex, crypto, commodities, stocks and indices on MetaTrader 4 or 5 with unlimited leverage. Choose between an account with low spreads from 0.3 pips or raw spreads plus a low commission.
Its accounts are always swap-free in Muslim countries, and available on a swap-free basis on request in all other countries. You'll find the full list of Muslim countries in its Help Center.
Not eligible: clients from the USA, the EU, the UK and sanctioned countries like Iran.
What other brokers say
For completeness, we wanted to give you a feel for a few of the other brokers we contacted, in the process of drafting this article. Unfortunately, none of them support the Kuwaiti Dinar as an account currency.
- AvaTrade KWD account: AvaTrade.com doesn't offer a trading account with KWD a base currency. AvaTrade supports AUD, EUR, GBP and USD as account base currencies. The currencies and funding methods available to you will depend on your home country.
- HF Markets KWD account: HFM.com (formerly HotForex) doesn't support KWD as an account base currencies in any of its entities. If you live in Kuwait and open an account with HF Markets, you'll be given a choice between USD and EUR for your account currency.
- eToro KWD account: USD is eToro's only account base currency. This means that any deposits and withdrawals you make from KWD into USD will be subject to eToro's 0.50% currency conversion fee. This amounts to a 1% haircut on money coming in and out of your account. Whenever possible, open an account in your own currency to avoid unnecessary currency conversion fees.
- XM KWD account: XM supports a wide range of account currencies but KWD isn't one of them. The range of currencies will depend on your account type.
About the Kuwaiti Dinar
The Kuwaiti Dinar, abbreviated as KWD or KD, is the official currency of the State of Kuwait, an oil-rich Emirate bordering the Persian gulf. The Dinar was first issued in 1961 in replacement of then circulating Indian rupee(1).
Since 2007, the Dinar has been pegged to an undisclosed basket of international currencies, whose relative weights reflect Kuwait's largest trading partners(2). Prior to that, the Kuwaiti Dinar was briefly pegged to the US Dollar. Throughout 2022, 1 KWD was equal to 3.0625 US Dollars, on average.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.
- 1. Central Bank of Kuwait. First Issue. https://www.cbk.gov.kw/en/banknotes-and-coins/banknotes/first-issue
- 2. Central Bank of Kuwait. Exchange Rate Policy. https://www.cbk.gov.kw/en/monetary-policy/exchange-rate-policy