7 Best Forex Brokers in Africa

Overview

When it comes to regulated forex brokers that facilitate the trade across a wide range of financial instruments, African traders have the best choice in some of the best, most popular, and dependable forex brokers in the industry and the world.

These Forex brokers offer competitive spreads, a range of trading instruments, and competitive trading conditions alongside powerful trading platforms, a choice in retail investor accounts, and a low initial deposit when retail traders register a real account.

African traders can use the following sections as a forex broker comparison tool to identify the best online forex brokers to facilitate trade in a wide range of financial markets.

Tickmill

Tickmill is an ECN and STP broker that is based in the United Kingdom, Cyprus, and Seychelles with corresponding regulation through the Financial Conduct Authority, CySEC, and FSA in offering a range of tradable financial instruments.

Of all the international forex brokers that serve the financial markets, Tickmill is unique and trusted, providing retail traders with a range of markets, tight spreads, dedicated customer service, and a choice in margin-based foreign exchange trading options.

 

PROSCONS
Multi-regulated by several entitiesUnited States clients not accepted
Negative balance protection appliedEU Clients have restricted leverage
AutoChartist offeredLimited educational materials
FIX API Cryptocurrency trading not supported

 

Exness

Established in 2008, Exness is a popular, award-winning and reputable forex broker that offers beginner forex traders, professionals, and institutional entities with a safe investment environment, a range of instruments, full-feature trading platforms, and competitive and variable spreads.

Exness serves retail and professional forex traders from around the world and provides global clients with tailored financial services and a wide range of investment solutions. Exness offers its clients adequate leverage ratios up to a maximum of 1:2000, an ultra-low minimum deposit requirement of $1. Read a complete review on Exness here

Not only do African traders have access to the popular, liquid forex market, but also precious metals, commodities, indices, shares, and several other asset classes. Exness also helpe to ensure that its traders have access to the utmost liquidity provided by top LPs in the industry.

 

PROSCONS
Globally recognised brand and entityLimited choice in tradable financial markets
Negative balance protection offeredAccounts are not multi-currency
Low minimum deposit 
Demo account provided 

 

FBS

FBS is an award-winning forex and commodities broker that caters to the unique needs of every African trader, regardless of whether they are beginners or professionals.

FBS is known for forex trading along with offering a range of other markets such as CFDs trading, spot metals, cryptocurrency, indices, shares, and several others. With FBS, traders can expect a range of useful tools such as technical indicators, exchange rate calculators, a reliable trading platform, social trading platforms that offer social copy trading, and more.

FBS is also well-known for offering a comprehensive range of education to beginner traders, a wide range of customer service options, demo account access, and several other solutions to traders of all skill levels.

 

PROSCONS
Range of trading instrumentsHigh spreads on Cent Accounts
Quick deposit and withdrawal methodsInactivity fee charged
Choice in different account types 
Tight and variable spreads 

 

AvaTrade

From its establishment until today, AvaTrade has shown consistent effort in becoming a comprehensive forex broker that offers some of the best trading solutions to both beginner and experienced traders in the industry. Read an honest review on Avatrade here

Apart from a wide range of forex currency pairs, AvaTrade has a massive range of tradable assets spread across several asset classes such as cryptocurrency, stocks, options, shares, commodities, and more.

AvaTrade is also well-known for its proprietary and web-based platform, advanced mobile platform, and a range of trading solutions, tools, resources, and some of the best personal customer service in the industry.

 

PROSCONS
Multi-award-winning brokerUS clients are not accepted
Fast and reliable trade execution 
Tight fixed spreads 
Social trading platforms offered 

 

HotForex

HotForex is well-known as the brand name of HF Markets (Europe) Ltd. and since its inception has made an impressive name for itself by offering tailored, flexible, and comprehensive trading conditions to traders of all skill levels.

HotForex is known for its choice of account types from the micro account, premium account, HFcopy Account, Zero Spread Account, and the Auto account, which allows for automated trading strategies.

HotForex offers African traders the best trading solutions, a massive range of tradable instruments, and ample opportunities to trade in global financial markets for a profit.

 

PROSCONS
Well-regulated and trustedNo US Clients
Islamic account and demo account options offered 
Strong international presence 

 

BDSwiss

BDSwiss is another popular, reputable and multi-regulated forex and CFD broker that offers African traders more than 250 tradable instruments spread across several asset classes.

Part of BDSwiss’ offering is the powerful trading platforms through which trades can be executed, an array of useful trading tools, and a vast number of educational materials, resources, and tools for beginner traders.

 

PROSCONS
Daily trading alertsNo fixed spreads
Webinars offeredEU clients have restricted leverage
Free VPS 

 

Naga

NAGA is a popular social investing network that allows retail investors from around the world to trade, like, share, and copy investments across a plethora of tradable financial instruments.

NAGA offers some of the most competitive trading conditions which include tight spreads, low commissions, lightning-fast trade executions, and a range of flexible account funding options.

 

PROSCONS
Range of user-friendly platformsSmall withdrawal fee charged
Copy and provide trading signals 
No deposit fees