{"id":811,"date":"2020-03-30T09:38:23","date_gmt":"2020-03-30T09:38:23","guid":{"rendered":"http:\/\/thetraderinyou.com\/test\/?p=811"},"modified":"2020-03-30T13:20:00","modified_gmt":"2020-03-30T13:20:00","slug":"forex-brokers-africa","status":"publish","type":"post","link":"https:\/\/thetraderinyou.com\/test\/forex-brokers-africa\/","title":{"rendered":"The best forex brokers in Africa for 2024."},"content":{"rendered":"\n

If you are an African, living in Africa, here are the top and the best forex brokers<\/a> you can trade forex or shares with in 2024.<\/p>\n\n\n\n

The best part of trading with some of these brokers is that\nyou can deposit to and withdraw from your trading account with local mobile\nmoney payment.<\/p>\n\n\n\n

Our forex broker review process is simple; we are residents of Africa and trade with these forex brokers on live accounts. <\/p>\n\n\n\n

Here are the best forex brokers in Africa to trade with in 2024.<\/p>\n\n\n\n\n\n

Exness<\/a><\/h3>\n\n\n\n
\"Exness<\/a>

Open an Account<\/a><\/td>		Quick info<\/strong>
Founded:<\/strong> 2008
Regulator:<\/strong> FSA, Seychelles
Minimum deposit:<\/strong> $1
Leverage:<\/strong> Up to 1:2000
Average spread:<\/strong> 0 (Zero and Raw spread) 0.3 – Standard
Platforms:<\/strong> MT4, MT5, Web, Mobile   <\/td><\/tr>
\n  \n <\/td>Why trade forex with Exness<\/a>. <\/strong>
– Super tight spreads
– Instant automated Withdrawals and deposits 24\/7
– Multiple withdraw and deposit methods
– Negative balance protection
– Regulated broker
– Mpesa and Mobile money broker \u00a0
– Funding in local currency <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

IC Markets<\/a><\/h3>\n\n\n\n
\"icmarkets<\/a>

Open an Account<\/a>

IC Markets Review<\/a><\/td>		Quick info<\/strong>
Founded<\/strong>: 2007
Regulator<\/strong>: ASIC Australia, FSA Seychelles, CySEC Cyprus
Minimum deposit<\/strong>: $200
Leverage<\/strong>: Up to 1:500
Average spread<\/strong>s : 0 (cTrader and Raw spread) and from 1.0 \u2013 Standard
Commissions<\/strong> : only on cTrader –  $6.0 and Raw Spread – $7 per lot round-turn
Platforms:<\/strong> MT4, MT5, cTrader, Web, Mobile   <\/td><\/tr>
\n  \n <\/td>Why trade forex with IC Markets<\/a>.
– Super tight spreads
– Multiple withdrawal and deposit methods
– Supports PayPal deposits and withdrawal
– Regulated broker \u00a0 \u00a0 <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

HotForex<\/a><\/h3>\n\n\n\n
\"HotForex-<\/a>

Open an Account.<\/a> <\/td>		Quick info<\/strong>
Founded<\/strong>: 2010
Regulator<\/strong>: FCA United Kingdom, FSA Seychelles, DFSA Dubai, FSCA South Africa
Account currency:<\/strong> USD, EUR, GBP
Minimum deposit<\/strong>: $5
Leverage<\/strong>: Up to 1:1000
Average spreads:<\/strong> EURUSD – 1 pip, GBPUSD
Commissions:<\/strong> $7 per lot round-turn on the Zero Spread account.
Platforms:<\/strong> MT4, Web, Mobile   <\/td><\/tr>
\n  \n <\/td>Why trade forex with HotForex<\/a>. <\/strong>
– Up to 100% trading bonus on deposits on some accounts
– Multiple withdrawal and deposit methods
– Tight spreads on the Zero spread account
– Regulated in many countries
– Negative balance protection<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Tickmill<\/a><\/h3>\n\n\n\n
\"Tickmill<\/a>

Open an Account.<\/a> <\/td>		Quick info<\/strong>
Founded<\/strong>: 2015
Regulator<\/strong>: FSA Seychelles, CySEC Cyprus, FCA United Kingdom
Account currency:<\/strong> USD, EUR, GBP
Minimum deposit<\/strong>: $5
Leverage<\/strong>: Up to 1:500
Average spread<\/strong>s: EURUSD – 1 pip, GBPUSD
Commissions<\/strong>: $4 per lot round-turn – only on the Pro account.
Platforms:<\/strong> MT4, Web, Mobile \u00a0 <\/td><\/tr>
\n  \n <\/td>Why trade forex with Tickmill<\/a>. <\/strong>
– Super tight spreads
– Very low commissions
– Multiple withdraw and deposit methods
– Regulated broker   <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

XM<\/a><\/h3>\n\n\n\n
\"XM<\/a>

Open an account<\/a> <\/td>		Quick info<\/strong>
Founded<\/strong>: 2009
Regulator<\/strong>: CySEC Cyprus, IFSC, FCA United Kingdom, ASIC Australia, DFSA Dubai
Base currency:<\/strong> USD, EUR, GBP, JPY, CHF,\u200e AUD, HUF, PLN, RUB, SGD, ZAR
Minimum deposit<\/strong>: $5 on Standard and Micro and  $50 on XM<\/a> Ultra-Low Account
Leverage<\/strong>: Up to 1:888
Average spread<\/strong>s: 1 pip (Standard and Micro) 0.6 \u2013 on XM Ultra-Low Account Platforms:<\/strong> MT4, MT5, Web, Mobile     <\/td><\/tr>
\n  \n <\/td>Why trade forex with XM. <\/strong>
– Multiple withdraw and deposit methods
– Supports mobile money funding
– Negative balance protection
– Regulated in many countries \u00a0 <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

I have experience trading with these and many other forex brokers since 2010 and am confident they are the best brokers to trade forex with in Africa.<\/p>\n\n\n\n

I will now show you which broker is best in what.<\/p>\n\n\n\n

The best forex broker\nfor beginners<\/strong><\/h3>\n\n\n\n

All the five brokers above qualify for beginning traders.\nThey all have a low initial deposit.<\/p>\n\n\n\n

In my list, Exness is the best forex broker for new\ntraders.  They have very low spreads, a\nsmall initial deposit, instant withdrawal options, and support many mobile\nmoney withdraw methods in Africa. <\/p>\n\n\n\n

Next is Tickmill, then IC Markets. Hotforex and XM are great, but their standard accounts have the highest spreads if you want to trade with either then as a beginner signup for the Zero spread account or the XM ultra-low account, respectively. <\/p>\n\n\n\n

<\/p>\n\n\n\n

The best brokers with low trading costs – Commission.<\/strong><\/h3>\n\n\n\n

Tickmill<\/a>\nhas the lowest commission of $4 per lot round-turn on its Pro account an\nequivalent to an ECN account. <\/p>\n\n\n\n

The best forex\nbrokers with small spreads<\/strong><\/h3>\n\n\n\n

Exness<\/a>,\nIC Markets<\/a>, and Tickmill<\/a> compete for\nthis spot. The spreads on Exness standard account, for instance, are almost\nequivalent to the Zero Spread account on Hotforex<\/p>\n\n\n\n

Forex broker with the\nbest customer service<\/strong><\/h3>\n\n\n\n

Exness<\/a>,\nIC Markets<\/a>, HotForex<\/a>, Tickmill<\/a>, and XM<\/a>.\nAll five brokers have very responsive customer care service. <\/p>\n\n\n\n

Forex broker with the\nbest forex research and education.<\/strong><\/h3>\n\n\n\n

Exness<\/a>,\nIC Markets<\/a>, HotForex<\/a>, Tickmill<\/a>, and XM<\/a>.\nAll the five brokers take their traders seriously with very insightful\neducation and trading advice based on research.<\/p>\n\n\n\n

Broker with the best Forex\nTrading Platforms<\/strong><\/h3>\n\n\n\n

IC\nMarkets<\/a> has the most trading platforms followed by HotForex<\/a> and XM<\/a> <\/p>\n\n\n\n

The best forex broker\nfor Day Trading<\/strong><\/p>\n\n\n\n

Exness<\/a>,\nIC Markets<\/a>, HotForex<\/a>, Tickmill<\/a>, and XM<\/a>\nforex brokers will all work well for day traders.<\/p>\n\n\n\n

Forex brokers with a\nno deposit bonus<\/strong><\/h3>\n\n\n\n

Both Tickmill<\/a>\nand XM<\/a> provide first-time\nclients a $30 no deposit bonus<\/a>. The beautiful thing about this bonus is you can\nalways withdraw the profits made from this bonus. A no deposit bonus is great\nif you want to test the live trading environment of any of these brokers. <\/p>\n\n\n\n

Forex brokers with\nthe best trading bonus<\/strong><\/h3>\n\n\n\n

HotForex<\/a>\nhas the craziest bonuses to choose from. If you want to increase your trading\nequity by up to 100% of your deposit, then Hotforex is for you. XM<\/a> also has some great\nbonuses and promotions.<\/p>\n\n\n\n

Documents you need to\nverify a forex trading account.<\/strong><\/h3>\n\n\n\n

Every trader is required to verify their account to comply with Anti Money Laundering regulation. <\/p>\n\n\n\n

You need these documents to verify your trading account.<\/p>\n\n\n\n

Proof of Legal Identity:<\/strong> Government-issued ID, Driver’s License, Passport, etc. <\/p>\n\n\n\n

Proof of Address:<\/strong> Government-issued residential registration, reoccurring statements to the address \u2013 Water bill, Electricity bill, Tax bill, Tax clearance certificate, and Bank statements.<\/p>\n\n\n\n

Frequently asked questions about forex brokers and forex trading.<\/strong><\/h2>\n\n\n\n

Go here for answers to questions beginners ask about forex trading<\/a>.<\/p>\n\n\n\n

How do I calculate\nforex trading costs?<\/strong><\/h3>\n\n\n\n

For spreads, your trading costs are the difference between\nthe buying and selling prices. <\/p>\n\n\n\n

For ECN or Raw trade accounts \u2013 commissions are\ntransparently displayed by the broker. For instance, on Tickmill, the cost is\n$4 per standard lot round-turn \u2013 that is $2 when you enter and $2 when you\nclose the trade.<\/p>\n\n\n\n

Most brokers provide trading tools – like calculating margin\nrequires – that can help you figure and plan for your trading. <\/p>\n\n\n\n

Where do I learn how\nto trade forex?<\/strong><\/h3>\n\n\n\n

All the forex brokers I recommend have great learning tools\nfor both beginners and advanced traders.<\/p>\n\n\n\n

If you are new to trading, I recommend starting with www.babypips.com<\/a> <\/p>\n\n\n\n

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How do I choose a\nforex broker?<\/strong><\/h3>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
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That\u2019s the big question. <\/p>\n<\/div><\/div>\n\n\n\n

Here are the criteria we used to review and pick the forex brokers on this list out of the hundreds of forex brokers out there.<\/p>\n\n\n\n