CMA, Central Bank of Curaçao and Sint Maarten, CySEC +5 more
dirham forex accounts
The Moroccan dirham, the official fiat currency of Morocco, is issued by the Bank Al-Maghrib, the country's central bank. It is divided into 100 santimat. Traders interested in opening a MAD fx trading account should consider essential factors. The dirham has a long history dating back to the 8th to 10th centuries and has undergone various changes. It replaced the Morrocan franc in 1960 and is currently pegged at 60% EUR and 40% USD, making it a stable and powerful currency. For Moroccan traders, opting for Forex brokers with dirham accounts is advised.
Using the dirham as a base currency offers several advantages, including lower transaction fees with local payment methods and avoiding currency conversion fees when depositing and using a different base currency. Below, you'll find a list of the most reliable and trustworthy Forex brokers with MAD accounts.
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In Morocco, the Forex markets and brokers are regulated by the Moroccan Capital Market Authority, known as AMMC. Forex brokers that offer MAD accounts must adhere to these laws and regulations to ensure the safety of Moroccan Fx traders' funds and provide a seamless experience. It's important to note that the AMMC sets a maximum leverage of 1:100, which is a reasonable level, enabling traders to trade up to 100 times their account balance. Opting for FX brokers that offer accounts in dirham, regulated by AMMC, is the best choice for Moroccan traders as it lowers costs, ensures safety, and provides the flexibility of 100 times their trading budget.
