10 Best
Forex Trading Platforms and Brokers in
Comoros

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the stock
Markets

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

Finding the best brokerage firm as a Comorian trader can be a very difficult process, especially finding ones who accept Comorian traders and would allow them to invest in the Comorian franc. In this article we have listed the best trading sites that would let Comorian traders, trade Stocks, Indices, Binary Options, CDFs, ETFs, Forex and some cryptocurrencies like Bitcoin and Ethereum.  

Comoros is open to foreign trade, which represents 43% of GDP. The country mainly exports cloves (45%), vanilla (32.3%), essential oils (12.3%), machines for cleaning or grading seeds (2%), and motor vehicles (1.7%). Its main imports include motor vehicles (11.9%), electric sound or visual signalling apparatus (11.6%), rice (9.3%), cement (7.1%), and meat (5%).

When it comes to trading in the Comoros, traders will need to know what their options are when it comes to choosing a reliable broker and we have listed 10 of the Best Brokers and Platforms available to Comorian traders.

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

The Best Forex Trading Platforms and Brokers in Comoros

XM Group

XM Group

Since 2009, XM Group has become one of the largest and unshakable investment firms with more than 1,500,000 clients worldwide.  XM Group is a group of online regulated brokers, and to open a live account, traders will need a minimum deposit of at least $5.

Pros

Cons

Used by 700,000+ traders

Inactivity Fee

Established in 2009

Not FCA Regulated

Regulated by IFSC, CySEC, and ASIC

 

Min. deposit from $5

 

XM Group offers over 261 different instruments to trade, including over 55 currency pairs.

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Low min deposit 

Standard account 

Payoneer

Offers Negative Balance Protection 

Zero spread account 

Neteller

Trading Features:

Islamic account

 

Allows scalping 

  

XM Group supports a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.

AvaTrade

AvaTrade

AvaTrade is one of the largest online trading platforms with approximately 200,000 registered clients who complete up to 2 million trades per month Рapproximately $60 billion of trading volume.  AvaTrade offers traders a range of financial trading instruments including indices, commodities, shares, forex, digital currency, bonds and exchange traded funds.

Pros

Cons

Used by 200,000+ traders

Doesn’t offer VPS

Established in 2006

Not FCA Regulated

Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

 

Min. deposit from $100

 

To open a live AvaTrade account, traders will need a minimum deposit of at least $100, alternatively, a demo account is on offers which can use for practice.  AvaTrade offers both of the MetaTrader platforms; MT4 and MT5.

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Low min deposit 

Mini account 

PayPal

 

Standard account 

Skrill

 

Islamic account 

Payoneer

  

Neteller

AvaTrade support a wide range of languages including English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch.

Forex Time (FXTM)

FXTM

Leverage:  1:30 | 1:200

Regulation:  CySEC, FCA, FSCA

Min. Deposit:  US$200

HQ:  Cyprus

Platforms:  MT4, MT5

Founded in:  2011

The FXTM or Forex Time company was launched in 2011 with its headquarters situated in Cyprus (Limassol) is also authorized by Financial Conduct Authority and other regulators. 

Pros

Cons

One of the best Forex Brokers worldwide

Withdrawal fee

Regulated by the CySEC and several other Forex authorities

High Stocks trading Spread

Numerous industry awards

 

Low Deposit Requirement

 

Tight Spreads

 

FXTM offers their clients convenience by means of separate accounts for Forex trading and Invest Accounts in the form of 6 account types. 

  • Fast Account Opening, fully Digital
  • 6 Account types with ECN and Standard execution
  • Great options for a particular trading style
  • Low Minimum deposit
  • Free deposit

FXTM offers good range selection of markets and account features, with trading platforms which include MT4 and MT5.

Pros

Cons

Customer-friendly design

No proprietary platform

A comprehensive range of tools

 

Automated trading capabilities

 

Clear look and feel report

 

Industry leading software 

 

Education material and automated strategies available

 

FXTM offers applications for mobile or tablet devices, to access an account at a trader’s personal convenience.  The design is clear and customizable.  The FXTM customer support desk is available 24 hours a day, on regular weekdays via email, telephone and Lice Chat.  FXTM has support centres with dedicated focus on China, India, Indonesia, Malaysia, Nigeria, South Korea and Thailand.

alpari

Alpari

Alpari offers the latest MT5 software coupled with solid features without a freezing or downtime. Alpari also offer instant order execution with Nano, Standard accounts, and market execution with their ECN accounts and comes with multiple timeframes, order types and many technical indicators for technical analysis. There is a news feed built in to keep track of any news during trading and a PAMM account for investors are also on offer with an app where traders can keep track.

Alpari Key Features:

  • Supports:¬†MT4 & MT5 with multi device support
  • Minimum deposit:¬†‚ā¶0
  • Max. Leverage:¬†1:1000
  • Trading Instruments:¬†46 Forex pairs, Cryptocurrency, CFDs on Indices

Alpari offers customers support in multiple languages including English, Spanish, Portuguese, Indonesian and many more.

IQ Option logo

IQ Option

Founded in:  2013

Headquarters:  Cyprus

Regulation:  CySEC

Platforms:  In-House Platform

Leverage:  1:30 and/or 1:1000

Minimum Deposit:  USD$10

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading. 

Pros

Cons

Regulated by the Cyprus Securities and Exchange Commission (CySEC)

Does not provide MT4 and MT5 trading platforms

Easy and convenient method of opening an account

Not available for traders in the US, Canada, Australia, Japan, and other countries

Wide range of trading instruments

 

No deposit and withdrawal fees

 

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.

One of the major plus points of IQ Option is the customer service which available 24/7 through email, live chat or via telephone. For traders who want to speak or search in their native language, IQ Option has also translated their website and offers customer support in a dozen different languages including Vietnamese, Mexican and Portuguese.

HotForex

HotForex

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.

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

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
  • Max. Leverage:¬†1:1000

Trading Instruments include –¬†Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals.¬† Traders can contact HotForex via live chat, which is available 24/5 in multiple languages plus options for phone and email support are in more than nine languages including English and Greek.

fx pro

FXPro

FXPro is an online broker founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading.  FXPro is a global broker and has a head office located in the UK.

FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100. 

What can be traded with FXPro?

  • Over 250 instruments¬†
  • Over 70 currency pairs

FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

FXPro Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument and the broker offers support in a very wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese.

oanda best broker

OANDA

OANDA is the Most Regulated Forex Broker and operate across six of the most credible authorities including:

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA ‚Äď (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

OANDA Focuses on Transparency 

OANDA is focused on pricing transparency and customer satisfaction and they offer real-time data from liquidity providers and finds mid-points across instruments. When it comes to customer support, OANDA boasts multiple customer service awards for 24 hours/6 days a week support. Live chat, emails and phone support is available. 

Traders can find support in the following languages:

  • English
  • German
  • Spanish
  • Italian
  • French
  • Portuguese
  • Russian

Apart from holiday trading hours, traders can contact Oanda’s customer support team via email at all times.

xtb best broker

XTB

XTB is a trusted multi-asset broker regulated in several major financial centres and provides a well-rounded, competitive offering including excellent customer service and the xStation 5 trading platform.  XTB was founded in 2002 and is publicly-traded and regulated in one tier-1 jurisdiction, making it a low-risk broker for forex and CFDs trading. XTB is the top choice for 230,000+ Forex traders globally.

Feature

XTB

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

49

CFDs – Total Offered

1894

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

XTB offers traders a Standard (for UK and Ireland residents only) and a commission-based Pro account and each account will come with its own execution method and spread model, in terms of commissions and fees.  The xStation 5 is the primary platform offering alongside the full MetaTrader 4 suite. Since xStation 5 does not support automated trading, MT4 must be used. A Mobile trading option is also on offer.

Traders can reach customer service in multiple languages, including some minor ones like Hungarian or Romanian.

FBS

FBS

FBS offers traders a choice of four accounts and all accounts offer market execution and the chance to trade in micro lots in Cent accounts for more precise risk management.

Account type

Minimum deposit

Minimum trade size

Maximum leverage

Spreads

Cent

$1

0.01 lot

1:1000

from 1 pip

Standard

$100

0.01 lot

1:3000

from 0.5 pips

Zero Spread

$500

0.01 lot

1:3000

0 pips + $20/lot

Micro

$5

0.01 lot

1:3000

fixed, from 3 pips

ECN

$1000

0.1 lot

1:500

from -1 pip + $6/lot

FBS is a popular international broker and offers clients competitive trading conditions, a wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.  An account with FBS can be opened for just $1.  As for now FBS offers around the clock support in English, with more languages to be introduced soon.

Interactive Brokers

Interactive Brokers

Interactive Brokers is an online broker which was founded in 1977 and offers trading of over 100 instruments and over 10 currency pairs on a user-friendly custom trading platform, available as a browser-based web application. Interactive Brokers is a global broker and has a head office in United States and traders need to make a minimum deposit of $10000 as a start.

Interactive Brokers Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP

Interactive Brokers Trading Accounts Offered include:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Managed account

Interactive Brokers support a wide range of languages including English, Mandarin, Cantonese, Nihongo and more.

Tradestation

Tradestation

Tradestation is a US stockbroker which was founded in 1982 and is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and is considered as safe thanks to a long track record, discloses its financials, and its parent company, the Monex Group is listed on the Tokyo stock exchange.

Pros

Cons

Great web and mobile trading platform

Not user-friendly deposit and withdrawal

Low stock and ETF fees

No forex trading

High-quality educational tools

Poor customer service

Traders can contact Tradestation via:

  • Live chat
  • Telephone
  • Email

Customer service is available only in English.

Olymp Trade

Olymp Trade

Founded in:  2014

Headquarters:  St. Vincent and the Grenadines

Regulation: ‚ÄéIFC

Platforms:  Olymp Trade WebTrader

Leverage:  1:500 on FX Trading

Minimum Deposit:  USD$10

Olymp Trade is a well-known online trading platform, which offers traders multiple asset classes, including binary options.  Safety measures and precautions are put first by this platform and it is considered a financial organization which keeps the interests of their clients in mind at all times.  Traders are also offered access to educational resources and training materials.

 

Pros

Cons

No deposit or withdrawal fee

Only one trading platform available

Free Demo Account available

Not available for trading in all countries (EU, UK, and USA included)

Member of the Financial Commission

Long withdrawal process

Customer service available 24\7

 

Olymp Trade is part of an international organization, the Financial Commission, and the minimum amount required is $10 to start investing and open a live account. Technical support is available 24/7 in a multitude of languages by a team of specialists, through email, phone and chat. 

Firstrade

Firstrade is a US discount stockbroker which is regulated by the Securities and Exchange Commission or SEC and Financial Industry Regulatory Authority or FINRA and they were founded in 1985 under the name of First Flushing Securities.

Firstrade is recommended for beginners and investors looking for zero-commission trading, and offers low fees, free stock, ETF, funds, and options trading.

Pros

Cons

Free stock, ETF, fund, and options trading

No credit/debit cards and electronic wallets for money transfer

Solid research tools

You can trade only on US markets

Quality educational tools

No live chat and 24/7 availability

Firstrade’s support team provides traders‚Äô‚Äô relevant information and is available in English, Mandarin, and Cantonese.

trading212 best forex

Trading 212

rading 212 is a global online broker which was founded in 2006 and offers trading in Stocks, Forex, Commodities and Indices trading.  With Trading 212 new traders will need a minimum deposit of $1 to start and they have the option to sign up for a demo account.

Trading 212 accommodates traders on various levels, whether it be experienced or novice.  Trading 212 is regulated and supervised by reputable organisations and have won numerous industry awards over the past 14 years that they have been in operation.

Trader can trade in over 3000 instruments and over 177 currency pairs.  Trading 212 offer traders a user-friendly custom trading platform which is also available as a browser-based web application alongside mobile apps for Android and iOS.

Trading 212 benefits include:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Trading 212 also offers traders a good selection of educational resources and offers customer support in a wide range of languages including English.

fx pro

FXPro

FXPro is an online broker which was founded in 2006 offering Forex trading, Share Dealing trading, Spot Indices trading, Futures trading, and Spot Metals and Spot Energies trading.  FXPro are a global broker and has a head office based in the UK.

  • Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of The Bahamas (SCB), Dubai Financial Services Authority (DFSA)
  • Min Deposit:¬†100
  • Used by over¬†10,000 traders

FXPro provides traders with access to top-tier liquidity and advanced trade execution.

FXPro Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

FXPro Trading Accounts Offered:

  • MT4 account with fixed spreads and Instant Execution.
  • MT4 account with floating spreads and Instant Execution.
  • MT4 account with floating spreads and Market Execution.
  • cTrader account with floating spreads and Market Execution.
  • MT5 account with floating spreads and Market Execution.

The following account types are available to clients under DFSA:

  • MT4 account with fixed spreads and Instant Execution.
  • MT4 account with floating spreads and Market Execution.
  • cTrader account with floating spreads and Market Execution.

FXPro offers MT4 Instant, MT4 Market, MT4 Fixed Spreads, MT5, Ctrader, which are available for VIP and Islamic clients.

FXPro Financial Services Limited is authorised and regulated by the South Africa Financial Sector Conduct Authority (authorisation number 45052).

Maximize
the stock
Markets

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

In Conclusion

Traders must always remember that¬†there is no such thing as ‚Äúthe best Forex broker‚ÄĚ and what a trader should be looking for is the best broker for their needs. By knowing the kind of trading experience a trader expects for themselves makes it easier for a trader to decide on the broker who is right for them.¬† Choosing the best Forex broker can and will make the difference between profit and loss.¬†

EXNESS is this month's #1 Broker