We found 11 online brokers that are appropriate for Trading African Forex Investment Platforms.
The Foreign Exchange market (Forex or FX) is now one of the world's most common markets and has rapidly risen in popularity in Africa.
Forex trading is a highly competitive industry that is no different in Africa. In the last two decades, the industry has undergone fast growth as more Africans are made aware of the Forex.
Furthermore, the Forex market has grown from being almost unheard of, to being one of the trends over the last decade. A reason explaining this growth in popularity can be attributed to the introduction of handheld devices and other innovations.
African Forex dealers come up to about 1.3 million. A significant percentage of African Forex dealers are based in South Africa and Nigeria. Additionally, Kenya, Egypt, Angola, Namibia, and Tanzania are among the countries in which the Forex trade is gaining ground.
It is further predicted that government financial authorities will be involved in tracking trading in individual countries as a result of this large volume of Forex traders.
Forex can be traded in several other African countries in Nigeria, Egypt, Egypt, Ivory Coast, Kenya, and Ivory Coast.
Although Forex trade in these countries cannot be considered to be legalized, it does not breach the law. It is mostly obligatory to receive a trading license before a Forex broker can provide a trading service for the people of a region.
There are actually no countries in Africa, as opposed to other countries like North Korea and Israel, which have a full Forex moratorium. As previously mentioned, there are minor governmental controls in certain nations. However, these prohibitions do not bad Forex trading but are necessary to avoid illegal practices and scams.
Some of these limits can be on your Forex portfolio, such as setting the highest selling limit and the maximum amount you can have. The same happens in countries like China and Russia with Forex limits. In addition, Forex dealing is banned in some African countries with non-licensed Forex brokers. Even so, you should sell Forex just for yourself and for nobody else (identification is mandatory for most Forex brokers).
In countries ruled by rigid Sharia rules, Forex trading is typically not welcome. These countries include: Algeria, Benin, Burkina Faso, Egypt, etc.
Trading Forex is common among residents in South Africa. Forex brokers are not required to be recognized as South African citizens by the Financial Sector Administration (FSCA), which is a South African financial regulator.
The Financial Services Board was formed in 2018 as the succeeding (FSB). Since 1990, South Africa has already been governed by the FSB. A guide to the website of the Financial Services Board on Wikipedia offers a historic breakdown.
In order to determine the right Forex broker to invest in Africa, we need to be careful because of the uncertainties inherent in Forex trading.
First of all, the broker license should be reviewed. If Forex trading is restricted in your region, please check if your regulatory authority approves the Forex brokers. For a country like Nigeria that has not narrowed its business, take international brokers accredited by global licensing authorities into consideration.
The next thing is to search these brokers' trading sites. Before making a decision, please review your deposit benefits, scores, minimum deposit, and payment options. A Forex tutorial account should be included where you can try your hands before you go online. If you haven't completely figured out how your platform operates, don't spend real capital.
We also created a list of all brokers that welcome South Africans as new clients, to find the best Forex brokers in South Africa. Then, we classified brokers with their Trust Ranking.
This is a list of South Africa's best Forex brokers.
Understand that all trading holds risk and 60% - 90% of retail investor accounts lose money when trading CFDs.
Any Forex broker in Africa should be authorized. Forex scams are rampant in African countries and have resulted in serious harm to victims. This risk is minimized with a well-licensed dealer, which will allow you to deal more comfortably.
In addition, if you don't completely grasp the Forex market, you must be vigilant before making a large investment. Likewise, your emotions and your money should not be wasted on Forex markets.
In the coming years, there will definitely be a growth in the interest in Forex. This is especially the case since Forex trade is being announced on magazines, TVs, radio stations, websites, etc.
Forex workshops and awareness-raising programs are also available. More Forex brokers abroad are now involved in providing services to African countries. Better regulatory measures in countries that lack them will also then be imposed so that the future merchants can exchange safely.
If you are based in Africa and are looking to conduct Forex trading, make sure that you follow all the advice given in this article closely to make the most of your experience!
We've collected thousands of datapoints and written a guide to help you find the best Forex Broker Africa for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best African Forex Investment platforms below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online African Forex Investment Platforms trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top African Forex Investment Platforms.
Compare African Forex Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are African Forex Investment platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more African Forex Investment platforms that accept African Forex Investment platforms clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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Roboforex
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 1 | 100 | 1 | 100 | 200 | 100 | 5 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with etoro |
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Up with icmarkets |
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Up with xtb |
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Up with avatrade |
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Up with roboforex |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 72% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
Roboforex Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY |
You can compare African Forex Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top African Forex Investment Platforms for 2021 article further below. You can see it now by clicking here
We have listed top African Forex Investment platforms below.