10 Best
Forex Trading Platforms and Brokers in
Africa

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Bangladesh is a country situated in South Asia with a population of approximately 162 million potential Forex tradersBangladesh has one of the world’s fastest-growing economies with the exports of Agricultural Commodities playing a major economical role.  Bangladesh welcomes around 125,000 international tourists per year, which not only makes currency exchange legal, but an integral part of the country’s thriving economy.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Here is an overview of the 10 Best Forex Brokers and Trading Platforms available to Bangalees Forex traders.

Exness review

Exness

Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader4 and MetaTrader5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-free accounts are also available.  Exness offers over 105 different instruments to trade, including over 103 currency pairs.

Exness is authorised by several reputable regulatory bodies, including the Financial Services Authority (FSA), the Cyprus Securities and Exchange Commission (CySEC), and the particularly stringent Financial Conduct Authority (FCA).

In terms of its FSA regulation, the broker’s Nymstar Limited division is a Securities Dealer authorized and regulated by the Seychelles Financial Services Authority (FSA) with license number SD025.  In terms of its CySEC regulation, Exness (Cy) Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 178/12.  And in terms of its FCA regulation, Exness (UK) Ltd is an Investment Firm, authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom under the Financial Services Register number 730729.

Under these regulatory authorities, particularly the FCA and CySEC, the broker operates legitimately in the EEA, which is well-known for its stringent regulatory safeguards, including the provision of a compensation scheme in the unlikely event of broker insolvency.   As evidenced by its broad regulatory status, Exness is an authorized broker which is able to provide its clients with a highly safe and secure trading environment.

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

Forex Time (FXTM)

FXTM

FXTM is a Forex and CFDs Broker which was established in 2011. FXTM is highly regulated by the FSC of The Republic of Mauritius, the FCA of the UK, CySEC and licensed by FSCA of South Africa.

Standard and ECN Accounts are available with several subtypes. Under the Standard account, they offer the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zero account, FXTM Pro account and the ECN account. ECN accounts can be traded on MT4 and MT5FXTM offers Local NGN Funding, through bank wire transfer or Neteller with a minimum deposit of $100 for a standard forex account. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.

Customer support is available in 17 Languages via Live Chat, Phone, Telegram, Facebook and Twitter.

HotForex

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  A traders account, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators can be accessed from anywhere using an iPhone

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

Key features include:

  • Supports:  MT4, MT5 for desktop, web & mobile
  • Minimum deposit:  $5
  • Leverage:  1:1000
  • Trading Instruments:  Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals

Customer support is available via phone and email.

XM Group

XM Group

Leverage:                            1:30 to 1:888 *Depends on the entity of the group

Regulation:                         CySEC, ASIC, IFSC

Min. Deposit:                    US$5

HQ:                                        Cyprus, Australia, Belize

Platforms:                           MT4, MT5, XM WebTrader

Founded in:                        2009

XM operates with clients from over 196 countries and offers support in 30 languages. The main branch is located in Cyprus and the company is regulated by CySEC.  1.5 Million Traders and investors have chosen XM as their Forex Broker, largely accredited to their wide range of trading products on offer.  Four main account types are on offer – Micro, Standard, XM Ultra Low Account and Shares AccountsTraders can select the base currency of their preference from a large selection on offer, including South African Rand (ZAR), Singapore Dollar (SGD) and other global currencies.

Customer Support is available via live chat, email and phone.

OctaFX

OctaFX

OctaFX is a Forex ECN broker registered and regulated by CySEC in St. Vincent and the Grenadines and offers the option to trade on Forex, Indices, Metals and Cryptocurrencies via CFDs, across the MetaTrader and cTrader suite of trading platforms as well as their own OctaFX Trading App

Three main types of trading accounts are on offer – MetaTrader 4 Micro, MetaTrader 5 Pro and cTrader ECN. OctaFX also offers Copy Trading accounts, a swap-free account and demo trading accounts. Customer support is available via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

ic markets

IC Markets

IC Markets is an Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (FSA) regulated Forex ECN and CFD broker which offers more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5 and cTrader platforms for desktop, web and mobile. 

IC Markets offers traders three main types of live trading accounts to choose from, including  Raw Spread (cTrader), Raw Spread (MetaTrader) and a Standard Account (MetaTrader). Islamic swap-free accounts and the use of a free demo trading account is also on offer.

Customer support is available 24/7 via Live Chat, Phone and Email.

AvaTrade

AvaTrade is an online broker which was founded in 2006 offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading.

  • Regulated by: Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI)
  • Headquarters:The British Virgin Islands
  • Foundation year:2006
  • Used: by over 200,000 traders

Across all markets, MetaTrader 4 gives traders access to over 250 assets, 30 advanced charting tools, trading history, and other useful information.  Customer support is available by email, phone, or live chat.

FP Markets

FP Markets

Leverage:                            1:500

Regulation:                         ASIC, CySEC

HQ:                                        Australia

Platforms:                           IRESS, MT4, MT5

Found in:                             2005

The FP Markets was established in 2005 and serves over 12,000 clients across the globe.  FP Markets connects traders to the market through electronic bridges and DMA pricing models.  FP Markets offers traders access to trade 13,000+ products ranging from ForexIndices, Commodities, Metals, Bitcoin, Cryptocurrencies, Equity CFDs.

Traders can choose between the MT4, MT5 and IRESS platforms as well as MAM and PAMM account possibilities for money managers. 

FP Markets offer two account types with STP and ECN execution models available through MT4 or MT5 platforms. FP Markets also offers three IRESS account types which covers traders who prefer to use this particular software.

Customer Service is available 24/5 via Live Chat.

Roboforex robo forex best brokers

Roboforex

Roboforex is an online, global broker which offers traders Forex and CFDs trading.  Roboforex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

When starting off with Roboforex traders will need to make a minimum deposit of $1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairsRoboforex offers over 100 instruments and over 35 currency pairs in total.

Roboforex offers traders both MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

Roboforex Trading benefits:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP and Islamic.

Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.

eToro best brokers

eToro

eToro is a leading social trading platform designed for trading major financial markets including stocks, forex and cryptocurrencies. eToro is well regulated by the FCA, CySEC and ASIC. eToro only offers one account type with over 1,083 different instruments to trade, including over 47 currency pairs. The minimum deposit for said account will differ by country.  eToro offers traders a proprietary trading platform which allows both individual and social trading.

eToro supports a wide range of languages including English, German, Spanish, French, and Italian via phone and support ticket.

With the religion of Islam being followed by 90% of the country’s population, Bangalees Forex traders will have to invest their finances with a Forex Broker who offers their clients Islamic or Swap Free Account Options.

Here is an overview of the 7 Best Forex Brokers and Trading platforms available to Bangalees Forex Traders who offer Islamic / Swap Free Account Options.

Axi Affiliates

Axitrader is an online broker which was founded in 2007 and offers Forex, CFDs and Social Trading, is a global broker and has a head office situated in Australia with no minimum deposit needed to get started plus a demo account is on offer.  AxiTrader is authorised and regulated by the Australian Securities & Investments Commission (ASIC).

Axitrader is able to accommodate various levels of traders and offers the MT4 forex trading platform plus mobile apps for Android and iOS, respectively.

Axitrader Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Axitrader Trading Accounts on Offer include Demo, Micro, Mini, Standard, ECN, STP and Islamic and support is offered in a wide range of languages.  Customer support is available via Phone, Live Chat and Email.

InstaForex

InstaForex is a CySEC and BVIFSC regulated broker which was established in 2007. The broker offers traders more than 110 currency pairs available to choose from, CFDs based on the stocks of more than 90 American companies, 5 cryptocurrency pairs, plus commodities and stock indices CFDs.

InstaForex offers four different account types to choose from:

  • Standard Account
  • Eurica Account
  • Standard Account
  • Eurica Account

InstaForex also offers its clients swap-free accounts for free.

Trading Platforms on offer include:  Web MetaTrader 4 Binary Platform.  Customer service is available via phone, telegram, WhatsApp and Skype.

Vantage FX

Vantage FX is a Forex ECN and CFD broker which offers traders 120+ tradable assets across Currencies, Indices, Commodities and U.S and Hong Kong Share CFDs on the MetaTrader platform for Mac, PC, iOS and Android and other social trading platforms.  Vantage FX is regulated by ASIC (Australian Securities and Investment Commission). 

Vantage FX offers traders access to both the MetaTrader4 and MetaTrader5 trading platforms for Windows, Mac, Android and iOS. Traders will also have access to the MT4/MT5 Web Trader platform, as well as social trading platforms MyFXbook and Zulutrade.  iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Google Playstore, respectively.

Vantage FX offers three main types of live trading accounts called Standard STP, Raw ECN and Pro ECN. The broker also offers swap-free Islamic accounts.  Regardless of the platform a trader chooses to use, the trading cost at Vantage FX depends on the account opened.

Customer service is available 24 hours a day, 5 days a week via phone, email, live chat and remote TeamViewer in English, Mandarin, Thai and Vietnamese.

FXCM

FXCM

FXCM caters to multiple trader types including High-volume traders, algorithmic traders, and traders who appreciate robust trading tools and quality market research.  FXCM is considered low-risk. FXCM’s parent company is publicly-traded, does not operate a bank, and is regulated by the UK’s FCA and the Australian ASIC.

FXCM offers a growing range of trading platforms and tools including:

  • Trading Station desktop:FXCM’s flagship trading platform, caters well to forex traders of all skill levels.
  • Trading Station web:The web version of Trading Station features includes news, videos, research, market data signals, and links to external resources.
  • Ninja Trader: Features numerous trading tools, including automated trading capabilities.
  • Algorithmic Trading:The FXCM App store provides various add-ons, technical indicators, and automated trading robots.

FXCM provides a wide variety of market research and related resources. A combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders.  An Islamic Trading Account is also made available.

FXCM provides free phone support for the residents of 42 countries plus support via SMS, e-mail and via live chat.  Support agents speak over 20 languages.

FXPrimus

FXPrimus is an online broker founded in 2009 offering Forex trading, and Social Trading,

and is global broker with a head office in Cyprus.

  • Regulated by: Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
  • Used by over 10,000 traders

FXPrimus has won numerous industry awards over the 11 years a wide variety of instruments and trading currency pairs.  FXPrimus offers over 125 different instruments to trade, including over 43 currency pairs.

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Offers STP 

Mini account 

Payoneer

Low min deposit

Standard account 

Neteller

 

ECN account 

 

 

Managed account 

 

 

Islamic account

 

Customer Support is available via email, webform, phone and live chat.

alpari

Alpari

Alpari International is the business name of Exinity Limited, which is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius.  Alpari offers traders more than 250 tradable assets across Forex, Stocks, Indices, Metals, Cryptocurrencies and Futures, across the MetaTrader suite of trading platforms.

Four main types of trading accounts are on offer: Standard MT4, Micro MT4, Pro MT4 and ECN MT4/5. A Stocks Trading account, a swap-free account, a free demo trading account and the use of an Alpari Invest account is also made available.

Customer support is available 24/5 via Live Chat, Telegram, Email and phone.

NordFX

NordFX

NordFX is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC)NordFX offers Forex trading with specific accounts for each type of trader, including Zero accounts which offers spreads from 0 pips, while the Crypto account offers optimal cryptocurrency trading.   Types of trading accounts are –  Fix, Pro, Zero, and Stocks.  Traders will be able to open demo or Islamic accounts in addition to the main account types offered.

Trading instruments on offer ranges from more than 30 currency pairs, the popular precious metals gold & silver, 11 major cryptocurrency pairs, plus CFDs based on Brent oil and stock indices such as Dow Jones 30, S&P 500, DAX 30, NASDAQ 100, and NIKKEI 225.

NordFX offers customer support via Email, Telephone and a 24/5 Live Chat function plus an Online Contact Form available on their website.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Conclusion

Every Bengali trader should first invest their time before they invest their money.  Even though regulation is not mandatory, it is highly recommended to not only review a broker before investing but to choose one which is highly regulated with a reputable history in the Financial Markets.

EXNESS is this month's #1 Broker