Top 2 brokers for opening a trading account from Myanmar (Burma)
Oanda
4.7
Read review
XTB
4.7
Visit broker
79% of retail CFD accounts lose money
Can I open a trading account from Myanmar (Burma)?

Have you ever tried to open a trading account in another country? If you already did some research on this topic you probably figured out by now that you can, albeit it's not always a straightforward process. Opening an international trading account can at times be complex or at least hard to work out.

BrokerChooser is here to lend you a helping hand. Let's take a look at why account opening at a certain broker is possible from some countries but not from others.

To open a trading account from Myanmar (Burma), you can select a broker that is based in another country or region. However, not all brokers provide trading accounts to foreign customers or have restrictions for some countries. The reasons are manifold, including taxation, regulation, business decisions, etc. For example, US giants Interactive Brokers and E*TRADE follow different strategies in this respect: E*TRADE only accepts clients from the US while Interactive Brokers welcomes customers from a long list of countries.

So what does all this mean? In a nutshell: you can open a trading account at an international broker by law, but it is up to the broker to decide whether they provide their service in your country. Make sure you always check this information on their website or on BrokerChooser.

Trading account opening from Myanmar (Burma)
Where can I open a trading account from Myanmar (Burma)?

Let's get to the point! From Myanmar (Burma), you can open trading accounts at all the brokers listed below.

We selected brokers that have the highest overall score. To understand how we calculated the overall score, visit our methodology page.

Brokers and trading accounts available in Myanmar (Burma)
XTB Oanda Capital.com FXCM AvaTrade
Overall score 4.7 4.7 4.7 4.5 4.5
Account opening score 5.0 stars 4.4 stars 5.0 stars 4.4 stars 5.0 stars
Fees score 3.9 stars 4.3 stars 4.1 stars 4.0 stars 3.4 stars
Markets and products score 2.8 stars 1.6 stars 2.2 stars 1.6 stars 2.0 stars
Visit broker
79% of retail CFD accounts lose money
Read review Visit broker
71.2% of retail CFD accounts lose money
Visit broker
76.31% of retail CFD accounts lose money
Visit broker
72% of retail CFD accounts lose money

The services offered by international brokerages vary from broker to broker and you will find many disparities related to the difficulty of account opening, available products and fees. Some brokers only provide forex and CFD products while others boast a wider portfolio including stocks and futures. In the following chapters, we will take a look at these aspects at selected brokers available to customers from Myanmar (Burma).

Trading account opening from Myanmar (Burma)
How to open a trading account from Myanmar (Burma)?

There are several factors to consider when opening a trading account, including the user-friendliness of the platform or the minimum deposit amount. Let's deep dive into these.

The time it takes to open an account typically ranges from a few minutes to a few weeks. The identity verification that marks the end of the process differs at various brokers. The account opening process is fully online in most cases, but there are brokers that require customers to mail a copy of their documents. The documents you usually have to upload and/or send (a copy) are of the following:

  • Proof of identity: national ID, passport, driving license, etc.
  • Proof of address: bank statements, utility bills, etc.

There are brokers that require a minimum deposit to authorize your trading account. The minimum deposit is usually $0 or a low amount, but some brokers demand a couple of thousands dollars/euros.

Account opening at brokers available in Myanmar (Burma)
XTB Oanda Capital.com FXCM AvaTrade
Broker intro Global CFD and forex broker US forex broker Global CFD and forex broker UK-based forex broker Global CFD and forex broker
Time to open account 1 day 1-3 days 1 day 1-3 days 1 day
Account opening full-online Yes Yes Yes Yes Yes
Account opening user-friendliness Yes Yes Yes Yes Yes
Minimum deposit $0 $0 $20 $300 $100

Trading account opening from Myanmar (Burma)
Fees of selected brokers available in Myanmar (Burma)?

Undoubtedly, fees are a crucial factor when selecting a broker. Below you can check the asset classes that individual brokers provide and whether their fees are classified as high, low, or average. This classification is based on how the fees compare to those charged by all the brokers reviewed by us.

Trading fee classification at brokers in Myanmar (Burma)
XTB Oanda Capital.com FXCM AvaTrade
Stock fee class - - - - -
Forex fee class Low Low Low Low Average
Fund fee class - - - - -
Bond fee class - - - - -
Options fee class - - - - -
Futures fee class - - - - -
CFD fee class Low Low Low Low Low

Non-trading fees are just as important as trading fees. Non-trading fees include charges not directly related to trading, such as withdrawal or inactivity fees.

Non-trading fees at brokers in Myanmar (Burma)
XTB Oanda Capital.com FXCM AvaTrade
Account fee No No No No No
Inactivity fee Yes Yes No Yes Yes
Deposit fee $0 $0 $0 $0 $0
Withdrawal fee $0 $0 $0 $0 $0

Trading account opening from Myanmar (Burma)
Bottom line

Ideally, by now you should feel more secure about opening a trading account. If you take into account the aforementioned factors, we're sure it'll be an easy ride to open one.

To sum it up, you have to keep an eye on the following:

  • Account opening time
  • Account opening complexity (user-friendliness)
  • Whether hard copies of your documents are needed
  • Trading and non-trading fees
  • Selection of available products

We hope this article helped you decide what kind of trading account to open from Myanmar (Burma). If you’re interested in learning more with us, check out the following:

Author of this article

Tekla Csike

Author of this article

Tekla is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasing experience of learning constantly.

Tekla Csike

Intern

Tekla is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasing experience of learning constantly.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Share

Comments

×