10 Best
Forex Trading Platforms and Brokers in
Cote D'Ivoire
Online Forex trading is not widespread in Côte d’Ivoire and the government of the small West African country has not made any widespread attempts at reforming its regulatory structure in order to integrate Forex trading within it. The regulatory framework of the country is quite basic and Central Bank of West African States is responsible for overseeing both the banking sector and all financial transactions.
There are no legitimate brokerages, registered or situated in Côte d’Ivoire but, there are many well-known regulated and globally recognized brokers who offer their expertise to traders from Côte d’Ivoire.
The Best Forex Trading Platforms and Brokers in Cote D'Ivoire
BDSwiss
BDSwiss is a large forex & CFD broker mainly based in Cyprus with separate entities registered in Mauritius and the Seychelles and is regulated by both CySEC and FSC. When it comes to instruments available for trading, BDSwiss offers nearly all of the commonly traded major and minor forex pairs, over 20 cryptocurrency CFDs, major stock indices and various commodity CFDs. BDSwiss also offers stock CFD trading in over 100 companies from the UK, US, and Europe.
70+ Currency Pairs | Based on major and minor world currencies. |
21 Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Monero, Ripple, Zcash, OmiseGO, EOS, IOTA, NEO, TRON. |
12 Indices CFDs | Based on baskets of different blue-chip stocks. |
4 Metal CFDs | Based on Gold, Silver and Palladium. |
3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
100+ Stock CFDs | Based on shares of US, UK and EU companies. |
BDSwiss offers traders its own proprietary web platform plus the downloadable desktop platform MetaTrader 4 (MT4, as well as its successor MT5.
Traders with BDSwiss can choose between three account types, a Basic Account, a Raw Spread Account, and a Black VIP Account. Demo accounts are also on offer. Account funding is available with the e-wallets Neteller, Skrill, iDeal, and Sofort plus bank wire transfers and credit cards. Trading accounts can be opened in euros, US dollars, or British pounds.
BDSwiss offers customer care via local phone numbers with support for 10 different languages, WhatsApp and Telegram 24 hours a day on trading days.
Admiral Markets
Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK. Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.
Admiral Markets is authorised and regulated by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Estonian Financial Supervision Authority (EFSA).
Admiral Markets Trading benefits include:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Offers Negative Balance Protection
Admiral Markets Trading Accounts Offered:
- Demo account
- Micro account
- Mini account
- Standard account
- ECN account
- STP account
Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOS.
AvaTrade
AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa.
For those who are looking to start out with AvaTrade you will need a minimum deposit of $250 and a demo account is available for those who want to get acquainted with the popular MT4 forex trading platform. AvaTrade also offer mobile apps for Android and iOS.
AvaTrade is perfect for various levels of traders including beginners and all traders can trade a wide variety of instruments and currency pairs.
- Over 250 instruments
- Over 80 currency pairs
AvaTrade Trading benefits include:
- Allows scalping
- Allows hedging
- Low min deposit
AvaTrade Trading Accounts on offer include: Demo, Micro, Mini, Standard and Islamic and AvaTrade allows traders to execute a minimum trade of 0.01 Lot.
Roboforex
Roboforex are an online, global broker which was founded in 2009 and offers traders Forex and CFDs trading. 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 pairs. Roboforex offers over 100 instruments and over 35 currency pairs in total. RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.
Roboforex offers traders both of the 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.
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. FBS is regulated by the International Financial Services Commission.
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. The activities of FBS are regulated by the International Financial Services Commission.
Traders must always keep in mind that no one Broker will suit each trader or their individual trading style and taking time and doing research is extremely important. With that in mind, here is a quick overview of 5 more mention worthy Forex Brokers and Platforms available to those in Cote d’Ivoire.
XM Group
The XM Group provides the entire suite of MetaTrader platforms plus over 1300 tradeable instruments.
- The XM Group is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading. XM Global Limited is authorised and regulated by the International Financial Services Commission (IFSC) (60/354/TS/19).
- Pricing at XM Group varies by account type.
XM Group is considered as an average-risk, and is not publicly-traded and does not operate a bank.
Offering of Investments
The XM Group offers traders CFDs on 1200 stocks, 30 indices, eight commodities, four metals, five energies, and 57 forex pairs.
Commissions & Fees
The commissions and fees at XM Group is depended on the type of account used.
Spreads: In the XM Zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data, and not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.
Commissions: Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.
Platforms & Tools
XM Group is a MetaTrader-only broker offering the standard experience which includes both MT4 and MT5.
XM Group’s research offering consists of:
- Content generated by an in-house team of analysts including:
- Daily market recaps and
- Technical and fundamental analysis articles and videos.
- An economic calendar powered by Investing.com
Trading signals: The XM Group offers its trading signals hub to live account holders but, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform.
Technical analysis: The XM Group offers Tradepedia, which provides educational Forex and CFD content.
Video news analysis: The XM Group creates daily forex news videos with market analysis explained in a TV interview-style format.
Customer Service
- Average Connection Time: <1 minute
- Average Net Promoter Score: 6.66 / 10
- Average Professionalism Score: 5.2 / 10
- Overall Score: 6.7 / 10
- Ranking: 24th out of 43 brokers
Forex Time (FXTM)
Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms. FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.
Forex Time (FXTM) User Likes and Dislikes:
Likes | Dislikes |
Provides multiple execution methods by account type | Leverage caps and margin restrictions on ECN accounts |
Regulated in several jurisdictions, including outside the EU | Certain range of markets segmented across account types |
Offers Cryptocurrency CFDs | On ECN accounts, stop and limit levels can be added only post execution |
FXTM Invest for auto trading | Low max order size of 30 standard lots per trade |
Is FXTM Safe?
FXTM is considered average-risk and is not publicly traded and does not operate a bank. FXTM is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.
Commissions & Fees
FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary. Three accounts are offered under the Standard category.
Customer Service
- Average Connection Time: <1 minute
- Average Net Promoter Score: 6 / 10
- Average Professionalism Score: 6.4 / 10
- Overall Score: 6.8 / 10
- Ranking: 23rd of 43 brokers
FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.
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 authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust) like the UK 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. 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.
IC Markets
IC Markets was founded in 2007 and International Capital Markets Pty Ltd (IC Markets) was established in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009 and is considered average-risk.
Feature | IC Markets |
Forex: Spot Trading | Yes |
Currency Pairs (Total Forex pairs) | 63 |
CFDs – Total Offered | 41 |
Social Trading / Copy-Trading | Yes |
Cryptocurrency traded as actual | No |
Cryptocurrency traded as CFD | Yes |
IC Markets offers three account types in which trading costs vary from commission-free on the Standard account to commission-based pricing on the True ECN and cTrader accounts and IC Markets provides a mobile version of all the platforms it offers, including MetaTrader 4 and MetaTrader 5 and cTrader, all of which come standard for iOS and Android.
IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.
Pepperstone
Pepperstone Limited is an online forex and CFD broker which providers traders with low-cost pricing across all forex, CFDs and commodities. Pepperstone is considered safe since it’s regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Pepperstone offers a range of online trading platforms which include:
- MetaTrader 4 (MT4)
- cTrader
- WebTrader
- Mobile apps for iPhone, Android and tablets
Recently, Pepperstone has made the announcement that they will in future also be offering the MetaTrader 5 (MT5) platform.
Pros | Cons |
Segregates client funds | Limited range of instruments |
Established in 2010 | |
Regulated by Financial Conduct Authority, UK and ASIC | |
Min. deposit from $200 |
To open a live account, traders will need to make a minimum deposit of at least $200, alternatively, Pepperstone offers a demo account. Pepperstone also offers traders over 170 different instruments to trade, including over 61 currency pairs.
Trading 212
Trading 212 are an online broker which was founded in 2006 and offers Stocks trading, Forex trading, Commodities trading, and Indices trading. Trading 212 are a global broker and has a head office situated in UK.
- Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
- Used by over 14,000,000 traders.
- Trading 212 are the UK’s number one trading and investment app with over 14,000,000 downloads, thus a large userbase but is not available in the following countries: US
Trading 212 Trading benefits:
- Allows hedging
- Offers STP
- Low min deposit
- Guaranteed stop loss
- Offers Negative Balance Protection
Trading 212 Trading Accounts Offered:
- Invest account
- ISA account
- CFD account
- Demo account
Trading 212 offers an outstanding, highly responsive customer service team available 24 hours a day across a variety of platforms and in 16 different languages.
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. XTB Ltd is authorised and regulated by the Financial Conduct Authority.
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.
eToro
eToro is a leading social trading platform for trading major financial markets including stocks, forex and cryptocurrencies. eToro is a well-known social trading broker which was established in 2007 and is considered safe because its regulated by top-tier financial authorities, FCA, ASIC and CySEC, and it is a well-known fintech start-up.
Pros | Cons |
Used by 6,000,000+ traders | Doesn’t allow scalping |
Established in 2006 | Inactivity Fee |
Regulated by Financial Conduct Authority, CySEC, ASIC | Limited range of instruments |
Min. deposit from $200 |
eToro offers over 1,083 different instruments to trade, including over 47 currency pairs.
Trading Features: | Accounts offered: | Funding methods: |
Offers STP | Demo account | Credit cards |
Low min deposit | Micro account | Bank Transfer |
Mini account | PayPal | |
Standard account | Skrill | |
Islamic account | Payoneer | |
Neteller |
eToro supports a wide range of languages including English, German, Spanish, French, and Italian.
EasyMarkets
EasyMarkets is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner and established forex traders:
- Enhanced risk management tools as standard
- Fixed spreads on all forex pairings
- An easy to use forex trading platform
Risk Management Tools on offer include:
- Guaranteed Stop Loss Orders
- Negative Balance Protection
EasyMarket offers award winning customer service during market hours via live chat, email, fax or telephone. EasyMarket customer service is available in four languages to include English, Polish, Chinese, and Arabic.
FP Markets
FP Markets is a global, online broker which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer. FP Markets is regulated by the Australian ASIC and the Cypriot CySEC.
Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform. FP Markets also offers traders mobile apps for Android and iOS.
FP Markets Trading benefits include:
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Offers Negative Balance Protection
FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.
In Conclusion
Forex trading is rapidly growing in popularity in Cote D’Ivoire and the volume of Forex traded in Cote D’Ivoire has steadily increased over the past few years. Trading in Forex is both legal and allowed in Cote D’ivoire as Forex is an integral part of import and export and investing internationally.