Forex trading has been exploding around the world, especially in African countries such as Cameroon, but forex traders may still be unsure about the best brokers to join for trading this market.
Traders in Cameroon looking for a broker that offers competitive trading conditions along with comprehensive trading solutions and services, need not look further than the following list.
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Exness
Overview
Exness was founded in 2008 and is regulated in Seychelles by the FSA, in Cyprus by CySEC and the FCA in the United Kingdom.
The broker offers trading platforms such as the popular MT4 and MT5 and a WebTerminal as well, with access to more than 130 currency pairs, metals, cryptocurrencies, energies, and Indices as trading instruments.
Pros and Cons
| PROS | CONS |
| 1$ minimum deposit | Deposit fee charged in certain regions |
| Free withdrawals possible | |
| USD and EUR as currencies |
Features
| Feature | Information |
| Regulation | CySEC, SFSA FCA, FSA(JP) |
| Minimum deposit | $1 |
| Average spread from | 0.1 pips |
| Commissions from | $10- $30 |
| Deposit/Withdrawal Fees | Deposit fee in some regions |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support and hours | 24/5 for 11 languages; 24/7 in English and Chinese |
CMC Markets
Overview
CMC Markets is a Market Maker broker in the United Kingdom that was established in 1989, and is regulated and authorised by the FCA, ASIC, MAS, FMA, and IIROC.
CMC Markets offer wide-ranging market analysis, a selection of trading tools, educational materials, and the advantage of no minimum deposit requirement.
Clients can trade more than 10 000 instruments from several asset classes through trading platforms such as Next Gen and MetaTrader 4.
Pros and Cons
| PROS | CONS |
| Innovative platform tools provided | No copy trading platforms |
| Multi-regulated | No fixed spread accounts |
| No minimum deposit | No US Clients |
| Segregated client funds |
Features
| Feature | Information |
| Regulation | FCA, ASIC, MAS, FMA, IIROC |
| Minimum deposit from | $0 |
| Average spread from | 0.7 |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None charged |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
HFM
Overview
HFM is a forex broker in St. Vincent and the Grenadines. The company was established in 2010 and is the holding group of well-known brands like HFM and Hot Forex.
The broker is a trustworthy ECN/STP broker, extensively regulated and offers a variety of tradable assets.
Pros and Cons
| PROS | CONS |
| Highly attractive spreads | Charges inactivity fee |
| No deposit or withdrawal fees | Does not accept clients from the US |
| Offers wide range of tradable assets | |
| Regulated in multiple countries |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSCA, DFSA, FSA |
| Minimum deposit | $100 |
| Average spread from | 1 pip |
| Commissions from | $0.03 per 1K lot |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support and hours | 24/7 |
Compass FX
Overview
Compass FX is an introducing forex broker in the United States of America. It means that it acts as an introducing broker for several other forex brokers for actual trading.
The company was founded in 1990 and is regulated by the National Futures Association (NFA).
Compass FX offers Standard and Micro Accounts which gives traders access to the best trading opportunities possible over all asset classes.
Pros and Cons
| PROS | CONS |
| Excellent customer service | High spreads |
| Fast and reliable trade execution | Information on trading conditions need to be obtained from introduced brokers themselves |
| Platform in 12 languages for global reach | |
| Popular Internet trading software |
Features
| Feature | Information |
| Regulation | National Futures Association (NFA), Australian Securities and Investment Commission (ASIC) |
| Minimum deposit | $250 |
| Average spread from | Depend on brokers they introduce for |
| Commissions from | Depend on brokers they introduce for |
| Deposit/Withdrawal Fees | Depend on brokers they introduce for |
| Maximum Leverage | Depend on brokers they introduce for |
| Bonuses | No |
| Customer Support and hours | 24/7 |
SuperForex
Overview
SuperForex was founded in 2013 and is headquartered in Belize although it operates globally. Still, the broker is only regulated by the International Financial Services Commission (IFSC). They do offer a wide range of financial instruments for trading, investment, and funds management services in more than 150 countries.
Pros and Cons
| PROS | CONS |
| Large variety of accounts | Not properly regulated |
| Leverage offered | Offshore broker |
| More than 300 trading instruments |
Features
| Feature | Information |
| Regulation | IFSC |
| Minimum deposit | $1 |
| Average spread from | fixed from 0 pips |
| Commissions from | 0 |
| Deposit/Withdrawal Fees | Withdrawals charged |
| Maximum Leverage | 1:1000 |
| Bonuses | Welcome bonus |
| Customer Support and hours | 24/7 |
eToro
Overview
eToro was established in 2007 and is operates from Israel. It is authorised and regulated by CySEC, the FCA and ASIC.
eToro prides itself on more than 1,5 million customers in more than 130 countries, including in Africa, and has transparent and user-friendly tools to trade currencies, indices, and commodities online.
Pros and Cons
| PROS | CONS |
| Low minimum deposit | High forex fees and non-trading fees |
| No deposit fee | Only one account base currency |
| Seamless account opening | |
| Social trading |
Features
| Feature | Information |
| Regulation | FCA, ASIC, CySEC |
| Minimum deposit | 30 USD |
| Average spread from | 1.0 pips |
| Commissions from | 0.09% |
| Deposit/Withdrawal Fees | $5 on withdrawals |
| Maximum Leverage | 1:20 |
| Bonuses | Welcome and referral bonuses |
| Customer Support and hours | 24/5 |
10 Best Forex Brokers in South Africa for 2025
Rank
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Review
Regulators
Min Deposit
Official Site
XM
Overview
XM was founded in 2009 in Cyprus and is authorised and regulated by CySEC, IFSC, FCA, ASIC and the DFSA in Dubai.
The broker offers MT4 and MT5 trading platforms for trading Forex, Stocks, CFDs, Commodities, Equity Indices, Precious Metals, Energies and Shares. Many secure payment methods can be used to transfer funds.
Pros and Cons
| PROS | CONS |
| Allows scalping and hedging | No managed accounts |
| Minimum deposit from $5. | |
| Offers negative balance protection | |
| Properly regulated |
Features
| Feature | Information |
| Regulation | CySEC, IFSC), FCA, ASIC and DFSA |
| Minimum deposit | $5 |
| Average spread from | 1.7 pips |
| Commissions from | $3.5 per lot per trade |
| Deposit/Withdrawal Fees | Bank withdrawals below $200 – $15 |
| Maximum Leverage | 500:1 |
| Bonuses | No. |
| Customer Support and hours | 24/5 |
Tickmill
Overview
Tickmill is a member of the Tickmill Group, regulated by the Seychelles Financial Services Authority and the Financial Conduct Authority in the UK.
Tickmill offers three different live accounts and its own proprietary WebTrader alongside MetaTrader 4. Traders have access to forex currency pairs, stock indices and oil, precious metals, and bonds for trade.
Pros and Cons
| PROS | CONS |
| Fast and easy account opening | Average CFD fees charged |
| Free deposit and withdrawals | Only basic news feeds supplied |
| No inactivity or withdrawal fee |
Features
| Feature | Information |
| Regulation | FSA, FCA |
| Minimum deposit | $100 |
| Average spread from | 0.13 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:500 |
| Bonuses | $30 welcome bonus |
| Customer Support and hours | 24/5 |
Trading 212
Overview
Trading 212 was founded in 2006 and is based in the UK. It offers free, smart, and easy to use platforms and apps to trade equities, currencies, commodities, stocks, indices, and cryptocurrencies.
Trading 212 offers zero-commission stock trading.
Pros and Cons
| PROS | CONS |
| Demo accounts can be opened | Inactivity fee when no activity on account |
| Minimum deposit from $10 | Does not allow scalping |
| Zero commission | Limited research tools |
| Regulated by reputable authority |
Features
| Feature | Information |
| Regulation | FCA, FSC |
| Minimum deposit | £100 /$100/€150 |
| Average spread from | 1.2 |
| Commissions from | Zero |
| Deposit/Withdrawal Fees | For bank wires |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support and hours | 24/5 |
City Index
Overview
City Index is a global FX and CFD and Spread Betting broker based in London, United Kingdom. It was founded in 1983 and is registered and authorised by the FCA, ASIC and of MAS.
City Index gives clients access to global markets with more than 12 000 assets to choose from Forex, Indices, Shares and Commodities.
Pros and Cons
| PROS | CONS |
| Diverse research tools | High stock CFD fees |
| Low fees for forex and index CFDs | Inactivity fee |
| Low forex fees | Limited product portfolio |
| No withdrawal or deposit fee |
Features
| Feature | Information |
| Regulation | FCA, ASIC, MAS |
| Minimum deposit | None |
| Average spread from | 0.5 pips |
| Commissions from | 0.1% |
| Deposit/Withdrawal Fees | £25 for payments less than £5 000 |
| Maximum Leverage | 1:200 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
Pepperstone
Overview
Pepperstone is an Australian forex broker company based in Melbourne and regulated also in the UK. The broker has offices in the United States, United Kingdom, China, and Thailand.
Pepperstone was established in 2010 and offers low forex fees, easy deposit and withdrawals and advanced trading platforms.
Pros and Cons
| PROS | CONS |
| Fast digital account opening procedure | High bank withdrawal fees outside EU/Australia |
| Free deposits and withdrawals | No investor protection for non-EU clients |
| Low forex and equity index CFD fees | Only forex, CFDs, and crypto for trade |
| Low non-trading fees |
Features
| Feature | Information |
| Regulation | FCA and ASIC |
| Minimum deposit | $200 |
| Average spread from | 0 pips |
| Commissions from | 7 units of the base currency per lot of the FX pair |
| Deposit/Withdrawal Fees | $20 for clients outside the EU and Australia |
| Maximum Leverage | 500:1 |
| Bonuses | No |
| Customer Support and hours | 24/5. |
Go Markets
Overview
GO Markets is a forex broker company based in Melbourne in Australia and established in 2006.
GO Markets was recognised as the first MT4 broker in that country and now also provides MT5, a web-based platform and mobile trading.
The broker offers spread-based and commission-based trading accounts with more than 350 tradeable CFD instruments including Forex, Shares, Indices and Commodities and Cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Allows scalping and hedging | Only two account types available for all traders |
| Regulated by ASIC | |
| Used by over 10 000 traders |
Features
| Feature | Information |
| Regulation | ASIC, AFSL |
| Minimum deposit | 200 AUD |
| Average spread from | Depends on region |
| Commissions from | $2.5 |
| Deposit/Withdrawal Fees | None charged |
| Maximum Leverage | 500:1 |
| Bonuses | Yes |
| Customer Support and hours | 24/5 |
AvaTrade
Overview
AvaTrade is an Irish forex broker company founded in 2006 and based in Dublin with sales centres in several countries from where it serves clients globally.
AvaTrade is regulated by financial authorities in Europe, the British Virgin Islands, Australia, Japan, and South Africa. The company’s own AvaTradeGO app is available with a user-friendly interface and innovative tools.
Pros and Cons
| PROS | CONS |
| Great educational tools on site | Inactivity fee |
| Multiple payment options available | Limited research tools |
| No withdrawal fee charged |
Features
| Feature | Information |
| Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
| Minimum deposit | $100 |
| Average spread from | 0.6 pips |
| Commissions from | Zero |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:400 |
| Bonuses | Occasionally |
| Customer Support and hours | 24/5 |
FP Markets
Overview
FP Markets is an Australian forex broker company established in 2005 with bases in Sydney and Kingstown, St. Vincent, and the Grenadines. The broker gives traders access to CFD trading across forex, indices, commodities, stocks, and cryptocurrencies as asset classes.
Pros and Cons
| PROS | CONS |
| Fast account opening | High stock CFD fees |
| Multi-lingual support | Limited product portfolio |
| Quick deposit and withdrawal | |
| Tight spreads |
Features
| Feature | Information |
| Regulation | ASIC, CySEC, SCB |
| Minimum deposit | $100 |
| Average spread from | 0.09 |
| Commissions from | Commission rates are complex and are obtainable from Support. |
| Deposit/Withdrawal Fees | No fees except international withdrawals |
| Maximum Leverage | 1:500 |
| Bonuses | Deposit bonus |
| Customer Support and hours | 24/5 |
Forex.com
Overview
Forex.com is a STP, ECN, and DMA broker that was established in 2001.
Forex.com is authorised and regulated by several reputable entities and offers traders from around the world a secure and dynamic trading environment with which they can trade more than 300 financial instruments via advanced trading platforms.
Pros and Cons
| PROS | CONS |
| Advanced, powerful trading platforms | Fixed spreads not offered |
| Strictly regulated by several authorities | Limited payment methods |
| US Clients welcome |
Features
| Feature | Information |
| Regulation | ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA |
| Minimum deposit from | $50 |
| Average spread from | $0.11 on XAU/USD |
| Commissions from | $0 – $5 |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:50 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FXTM
Overview
FXTM is a Cypriot forex broker based in Limassol. It was established in 2011 and has offices worldwide with regulation across Europe, Africa, the Middle East, Asia, and Latin America.
FXTM offers segregated accounts at top-tier banks, excellent services and products, secure deposits and withdrawals, competitive leverage, tight spreads, and the ability to trade 250+ instruments.
Pros and Cons
| PROS | CONS |
| Digital and fast account opening | High stock CFD fees |
| Great educational tools provided | Inactivity and withdrawal fees charged |
| Low EURCHF and EURGBP fees | |
| No deposit fees charged | |
| Quick deposit and withdrawal possible |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSCA |
| Minimum deposit | $10 |
| Average spread from | 0.1 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:30 for EU and UK, 1:1000 under other entities |
| Bonuses | Only for international brand. |
| Customer Support and hours | 24/5 |
Orbex
Overview
Orbex is a forex broker company in Cyprus since 2011.
Orbex requires a minimum deposit amount of $200 and offers zero spread accounts for deposits from $5 000.
Orbex offers the MT4 trading platform and TradeWorks, a third-party automated trading tool for new traders.
Pros and Cons
| PROS | CONS |
| Access to Trading Central | Extremely high fees |
| Regulated by CySEC | High minimum deposits required |
| Zero spread accounts available |
Features
| Feature | Information |
| Regulation | CySEC, FSC |
| Minimum deposit | $200 |
| Average spread from | 1.9 pips |
| Commissions from | $8 per lot |
| Deposit/Withdrawal Fees | None charged |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
Oanda
Overview
Oanda is an American forex broker company operating from New York City. Oanda has built an excellent record of accomplishment since it was founded in 1996.
Oanda now has offices in eight financial centres in the United States of America, Canada, the United Kingdom, Japan, Singapore, and Australia and serves clients in 200 countries, offering Forex and CFD trading, corporate FX payments and exchange rate services for many companies and investors all over the world.
Pros and Cons
| PROS | CONS |
| Account opening process is fully digital | High withdrawal fee for bank transfers |
| Easy and digital account opening | Only FX and some CFDs available |
| Easy-to-use web trading platform | |
| No minimum deposit required |
Features
| Feature | Information |
| Regulation | CFTC, FCA, ASIC, IIROC, MAS and FFAJ |
| Minimum deposit | $0 |
| Average spread from | 0.1 pips |
| Commissions from | $0.01 USD per trade |
| Deposit/Withdrawal Fees | No deposit fees but high withdrawal fees for bank transfers |
| Maximum Leverage | 1:50 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
Alpari
Overview
Alpari was originally established in Russia in 1998, but now runs offices from Saint Vincent and the Grenadines, and Africa too, from where they service more than 2 million traders in more than 150 countries. Traders can experience competitive trading conditions, with powerful trading platforms and multilingual customer support.
Alpari has been a properly regulated broker for more than two decades with experience in offering traders comprehensive trading solutions globally.
Pros and Cons
| PROS | CONS |
| MetaTrader 4 and 5 as trading platforms | Offshore broker |
| Multilingual customer support | |
| PAMM Accounts offered | |
| Regulated broker |
Features
| Feature | Information |
| Regulation | FSC, FSA |
| Minimum deposit from | $5 |
| Average spread from | 0.4 pips |
| Commissions from | $1.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
HotForex
Overview
HotForex is a popular and reputable broker based in Cyprus and regulated by multiple entities. The broker offers competitive trading conditions and comprehensive, all-encompassing trading possibilities.
Traders can choose between several account types, powerful trading platforms, and a variety of financial instruments to trade.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions | Commissions are charged |
| Strong international presence | No US Clients accepted |
| Variety of account types available | |
| Well-regulated by several authorities |
Features
| Feature | Information |
| Regulation | CySEC, FCA, DFSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None charged |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Admiral Markets
Overview
Admiral Markets Group was founded in 2001 and has grown to provide services worldwide through regulated companies.
Deposits to trading accounts can be made in most national currencies and traders can have multiple trading accounts in different currencies at the same time.
Admiral Markets offers trading with Forex and CFDs on indices, metals, energies, stocks, bonds, and cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Advanced trading tools | No bonuses |
| Negative balance protection provided | No fixed spread accounts |
| Segregated accounts for client funds |
Features
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit | $200 |
| Average spread from | 0.6 pips |
| Commissions from | 0 |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 500:1 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
IQ Option
Overview
IQ Option is a Cypriot forex broker established back in 2013 and is based in Limassol although managed and owned by IQ Options Europe Ltd.
Its trading platform features a variety of modern tools for traders of all skills, knowledge, or experience. IQ Option provides a vast number of tradable financial instruments across several asset classes.
Pros and Cons
| PROS | CONS |
| Advanced trading platform | No fixed spread accounts |
| Segregated client funds and member of ICF | Restricted leverage |
| Strictly regulated | US Clients not allowed |
| Vast variety of financial instruments |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $10 |
| Average spread from | 5 pips on GBP/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support | 24/5 |
OlympTrade
Overview
OlympTrade is a forex broker company in St. Vincent and the Grenadines and has been in operation since 2014. OlympTrade offers traders a low minimum deposit requirement and 24/7 multilingual customer support.
It is a member of the International Financial Commission and customers are secured by up to a € 20 000 indemnification amount.
Pros and Cons
| PROS | CONS |
| Low minimum deposit | No MetaTrader platform |
| Market news and analysis | No proper regulation |
| Multilingual 24/7customer support | No social trading allowed |
| Proprietary trading platform | No US and UK clients |
Features
| Feature | Information |
| Regulation | No information found |
| Minimum deposit from | $10 |
| Average spread from | None |
| Commissions from | 0.004 % |
| Deposit/Withdrawal Fees | Some may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/7 |
CM Trading
Overview
CM Trading is an STP broker based in South Africa, offering traders in the rest of African countries opportunities to trade a variety of financial instruments through MetaTrader 4 and Sirix platforms. CM trading is properly regulated to trade Forex, Index and Commodities, including Cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Commission-free accounts | Charges fees for deposits and withdrawals |
| Daily market analysis offered | High minimum deposit requirement |
| Hedging and scalping allowed | |
| Regulated |
Features
| Feature | Information |
| Regulation | FSCA |
| Minimum deposit from | $250 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:200 |
| Bonuses | Yes |
| Customer Support | 24/5 |
RoboForex
Overview
RoboForex is a global online financial trading platform and multi asset broker founded in Cyprus in 2009 and offering over 13 000 trading instruments, including over 40 currency pairs, 11 700 stock CFDs, 26 cryptocurrency CFDs, and over 100 soft commodity ETFs. It allows high leverage and offers attractive bonuses.
RoboForex offers multiple account types for different trading styles, accounts have tight spreads, and they provide insurance for client funds.
| PROS | CONS |
| Bonuses available | No fixed spread accounts |
| Client funds insured | |
| Low minimum deposit | |
| Tight spreads |
Features
| Feature | Information |
| Regulation | CySEC, IFSC |
| Minimum deposit | $10 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | Not charged |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support and hours | 24/5 |
InstaForex
Overview
InstaForex was established in 2007, is a regulated and multi-award-winning broker offering more than 300 financial instruments to be traded with MetaTrader 4 and MetaTrader 5.
InstaForex provide a variety of flexible trading accounts, some of which offer commission-free trading, free VPS, a variety of trading tools and educational material.
Their quality of services is confirmed by more than dozen awards.
Pros and Cons
| PROS | CONS |
| Commission-free trading | Charges commission |
| MetaTrader 4 and 5 available | EU-clients restricted on leverage |
| Variety of account types and instruments | US clients not accepted |
| Variety of financial |
Features
| Feature | Information |
| Regulation | CySEC, BVI, SVGFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | 0.03% |
| Deposit/Withdrawal Fees | None charged |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
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Frequently Asked Questions
Is forex trading allowed in Cameroon?
Yes. Forex trading is allowed in Cameroon.
Are all the forex brokers in Cameroon scammers?
No, not all the forex brokers in Cameroon can be regarded as scammers as there are many brokers operating in Cameroon who are regulated by international regulatory entities and are considered safe to trade with.
Who is the financial regulatory entity for Cameroon?
The financial markets in Cameroon is regulated by CEMAC ( Communauté Economique et Monétaire de l’Afrique Centrale), who works alongside the (BEAC) Bank of Central African States.
Can you trade forex with a demo account first in Cameroon?
Yes, in this article most of the brokers offer the option of demo trading to familiarize yourself with their features and trading conditions.
Is Islamic forex trading available in Cameroon?
Yes there are forex brokers in this article who offer traders in Cameroon who wants to adhere to Sharia law the opportunity to open an Islamic account.
Do forex brokers in Cameroon offer demo trading?
Yes, most of the forex brokers in this article offer traders the opportunity to open a demo trading account with them to experience their features and trading conditions before opening a live account.
Top 4 Brokers
