This Best Forex Brokers in Chad review conducted in South Africa shows that with forex trading exponentially growing around the world, especially in African countries such as Chad, forex traders may still be unsure of the best brokers to trade this market.
Chadian traders looking for a broker that offers competitive trading conditions along with comprehensive trading solutions and services need not look further than the list below.
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CM Trading
Overview
CM Trading, based in South Africa, is an STP broker offering traders in the whole of Africa the opportunity to join in forex trading by giving them access to trade in a variety of financial instruments through MetaTrader 4 and Sirix. CM trading is properly regulated to trade Forex, index, and commodities, including cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Commission-free accounts | Charges for deposits and withdrawals |
| Daily market analysis offered | High minimum deposit requirement |
| Hedging and scalping allowed | |
| Regulated by FSCA |
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 |
AvaTrade
Overview
AvaTrade was founded in 2006 and is based in Dublin, Ireland with sales centres in several countries, also in Africa.
AvaTrade is regulated by financial watchdog authorities in Europe, the British Virgin Islands, Australia, Japan, and South Africa. The company’s provided proprietary AvaTradeGO app has a user-friendly interface and innovative tools.
Pros and Cons
| PROS | CONS |
| Features several educational tools | Inactivity fee charged |
| Multiple payment options | Offers only forex, CFDs, and cryptocurrencies |
| No withdrawal fee | Research tools limited |
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 | No |
| Maximum Leverage | 1:400 |
| Bonuses | Occasionally |
| Customer Support and hours | 24/5 |
Tickmill
Overview
Tickmill brokerage is available in Africa and regulated by the Seychelles FSA and FCA in the UK.
Tickmill offers three live account types and its own proprietary WebTrader or MetaTrader 4 to trade forex, stock indices and oil, precious metals, and bonds.
Pros and Cons
| PROS | CONS |
| Fast and easy account opening | Average CFD fees |
| Free deposit and withdrawals | Only basic news feed |
| Low forex fees | |
| No inactivity or withdrawal fee |
Features
| Feature | Information |
| Regulation | FSA, FCA |
| Minimum deposit | $100 |
| Average spread from | 0.13 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:500 |
| Bonuses | Welcome bonus |
| Customer Support and hours | 24/5 |
Exness
Overview
Exness was founded in 2008 and is registered and authorised in Seychelles by the FSA, in Cyprus by CySEC and the FCA in the United Kingdom.
The broker offers MT4 and MT5 and a WebTerminal as trading platforms, to trade in more than 130 currency pairs, metals, cryptocurrencies, energies, and Indices.
Pros and Cons
| PROS | CONS |
| Withdrawals can be made free of charge | Deposit fee charged in certain regions |
| Minimum deposit of only 1$ | |
| USD and EUR as account 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 charged in some regions |
| Maximum Leverage | 1:30 |
| Bonuses | No |
| Customer Support and hours | 24/5 in 11 languages; 24/7 in English and Chinese |
XM
Overview
XM was founded in 2009 in Cyprus and is authorised and regulated by CySEC, IFSC, FCA, ASIC and the Dubai DFSA.
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 fund accounts
Pros and Cons
| PROS | CONS |
| Minimum deposit from only $5 required | No managed accounts |
| Negative balance protection available | No US clients accepted |
| Properly regulated | |
| Scalping and hedging allowed |
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 |
XTB
Overview
XTB is an English CFD, crypto and forex broker company that was founded in 2002. It is based in London and regulated by several international authorities including the FCA.
XTB offers an award-winning platform and a variety of educational materials. It is listed on the Warsaw stock exchange and gives access to trading on more than 1500 global markets.
Pros and Cons
| PROS | CONS |
| Free deposit and withdrawal | Poor email support |
| Award winning platform | Limited product portfolio, mostly CFD and FX |
| Negative balance protection | |
| Good educational material | |
| Regulated by FCA |
Features
| Feature | Information |
| Regulation | FCA and Polish KNF |
| Minimum deposit | £250/$250/€250 |
| Average spread from | 0.5 |
| Commissions from | No |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:30 in EU, 1:200 international |
| Bonuses | No |
| Customer Support and hours | 24/5. |
eToro
Overview
eToro was established in 2007 as an Israeli forex brokerage. It is authorised and regulated by CySEC, the FCA and ASIC.
eToro has more than 1.5 million customers in more than 130 countries that uses its transparent and user-friendly methods and online platform to trade currencies, indices, and commodities.
Pros and Cons
| PROS | CONS |
| Low minimum deposit required | High forex fees and non-trading fees |
| No deposit fees | Only one account base currency |
| Offers free stock and ETF trading in the EU | |
| Social trading possible | |
| Straightforward account opening process |
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 |
Trading 212
Overview
Trading 212 was founded in 2006 and has its headquarters in London, UK. It offers advanced but simple apps to trade equities, currencies, commodities, stocks, indices, and cryptocurrencies.
Trading 212 offers stock trading at zero commission and uses the best in modern technology.
Pros and Cons
| PROS | CONS |
| Demo accounts for practicing skills | Inactivity fee |
| Only $10 required for a minimum deposit | Limited research options |
| Regulated | Scalping not allowed |
| Zero commission |
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 |
FP Markets
Overview
FP Markets is an Australian forex broker company established in 2005 and based in Sydney as well as Kingstown in St. Vincent and the Grenadines. It gives traders access to CFDs trading on forex, indices, commodities, stocks, and cryptocurrencies.
Pros and Cons
| PROS | CONS |
| Easy and fast account opening process | 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 |
TD Ameritrade
Overview
TD Ameritrade is an American forex broker based in Omaha, Nebraska, subject to tough regulation and listed on the NASDAQ.
TD Ameritrade offers customers a choice of platforms, mobile apps, and thinkorswim for derivatives-focused traders.
Pros and Cons
| PROS | CONS |
| Free stocks and ETFs trading | Can only trade in the US markets |
| Low trading and non-trading fees | High fund fees |
| Satisfactory customer support | No electronic wallets or credit or debit cards for funding accounts |
| Superb desktop trading platform |
Features
| Feature | Information |
| Regulation | CySEC, FINRA, CFTC, MAS |
| Minimum deposit | No minimum |
| Average spread from | 1.2 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Wire transfer – $25. |
| Maximum Leverage | 2:1 |
| Bonuses | Welcome bonus |
| Customer Support and hours | 24/7 |
FXTM
Overview
FXTM is a Cypriot forex broker company established in 2011 and based in Limassol, with offices worldwide and regulations across Europe, the Middle East, Africa, Asia, and Latin America.
FXTM offers competitive leverage, tight spreads, and the ability to trade 250+ instruments. It is known for excellent services and products, segregated accounts at top-tier banks, secure deposits, and withdrawals.
Pros and Cons
| PROS | CONS |
| Digital and fast account opening | High fees |
| Educational tools for new traders | Inactivity and withdrawal fees charged |
| Low EURCHF and EURGBP fees | Limited product portfolio |
| No deposit fees charged | |
| Quick deposit and withdrawal processes |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSCA |
| Minimum deposit | $10 |
| Average spread from | 0.1 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:30 for the EU and UK, 1:1000 under other entity |
| Bonuses | Only for international brand. |
| Customer Support and hours | 24/5 |
CMC Markets
Overview
CMC Markets is UK-based Market Maker broker that was established in 1989. It is regulated and authorised by FCA, ASIC, MAS, FMA, and IIROC.
Clients can trade more than 10 000 financial instruments across several asset classes with the provided trading platforms Next Gen and MetaTrader 4.
CMC Markets offer research options such as comprehensive analysis, a variety of trading tools, educational materials, and clients can benefit by the lack of a minimum deposit requirement when registering a trading account.
Pros and Cons
| PROS | CONS |
| Advanced tools provided | No copy trading platforms |
| No minimum deposit | No fixed spread accounts |
| Regulated by multiple authorities | No PAMM or MAM accounts |
| Segregated accounts for clients’ 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 |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
City Index
Overview
City Index is a global FX, Spread Betting and CFD broker in the United Kingdom. The company was founded in 1983 and is registered and authorised by the FCA, ASIC and MAS of Singapore.
City Index gives clients access to global markets with more than 12 000 trading assets – Forex, Indices, Shares and Commodities – to choose from.
Pros and Cons
| PROS | CONS |
| Diverse research tools | Charges inactivity fee |
| Low fees for forex and index CFDs charged | High stock CFD fees |
| No deposit or withdrawal fee | Limited portfolio |
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 regulated locally and, in the UK, with offices in the United States, United Kingdom, China, and Thailand.
Pepperstone was established in 2010 in Melbourne and offers low forex fees, easy deposit and withdrawals and advanced trading platforms. It is popular in all countries, including Africa.
Pros and Cons
| PROS | CONS |
| Free deposits and withdrawals | High bank withdrawal fees outside EU/Australia |
| Fully digital account opening process | No investor protection for non-EU clients |
| Low forex and equity index CFD fees | Only forex, CFDs, and crypto to trade |
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. |
Oanda
Overview
OANDA is an AMERICAN forex broker company based in New York City. OANDA was founded in 1996.
OANDA 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.
OANDA is a trusted company with big brands like Google, TESLA, Airbnb, KPMG, FedEx, IATA, PWC, Twitter, Expedia, and others as clients.
Pros and Cons
| PROS | CONS |
| Easy and digital account opening | High withdrawal fee for bank transfers |
| Easy-to-use web trading platform | Only FX and some CFDs available |
| No minimum deposit required |
Features
| Feature | Information |
| Regulation | FCA in the UK, CFTC in the US, ASIC in Australia, IIROC in Canada, MAS in Singapore and FFAJ in Japan |
| 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 |
IC Markets
Overview
IC Markets is a well-regulated and reputable broker established in 2007 and is regarded as one of the largest real ECN brokers.
It offers traders more than 230 tradable financial instruments and advanced trading platforms in competitive trading conditions.
IC Markets allows trading strategies such as hedging and scalping, social trading, and offers free deposits and withdrawals under transparent fee schedules.
Pros and Cons
| PROS | CONS |
| Allows hedging and scalping and social trading | No fixed spread accounts |
| ASIC-regulated | US Clients not accepted |
| Low trading and non-trading fees | |
| Tight and competitive spreads | |
| True ECN-pricing |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
Alpari
Overview
Alpari has been a highly regarded and properly regulated broker for more than two decades with experience in offering comprehensive trading solutions to traders globally.
Alpari was established in Russia in 1998, but now has offices in Saint Vincent and the Grenadines and Africa to service more than 2 million registered traders in more than 150 countries. African traders can enjoy competitive trading conditions, with powerful trading platforms and multilingual customer support.
Pros and Cons
| PROS | CONS |
| MetaTrader 4 and 5 as trading platforms | No fixed spread accounts |
| Multilingual customer support | Offshore broker |
| PAMM Accounts offered | Restriction on clients from some countries |
| Well-regulated |
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 broker based in Cyprus and regulated by multiple regulatory entities. It offers competitive trading conditions and comprehensive, all-encompassing trading possibilities.
Traders can choose between dynamic account types, powerful trading platforms, and a variety of financial instruments to trade.
Pros and Cons
| PROS | CONS |
| Strong international presence | Commissions are charged on trades |
| Variety of account types | No US Clients |
| Well-regulated |
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 |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Forex.com
Overview
Forex.com is a STP, ECN, and DMA broker that was established in 2001 in Australia.
Forex.com is authorised and regulated by several other reputable entities too and offers traders from around the world a secure trading environment with advanced trading platforms with which they can trade over 300 financial instruments.
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 | No |
| Maximum Leverage | 1:50 |
| Bonuses | Yes |
| Customer Support | 24/5 |
IQ Option
Overview
IQ Option is a Cypriot forex broker since 2013 but managed and owned by IQ Options Europe Ltd. It is based in Limassol and provides financial services to clients from the European Economic Area (EEA) with a vast amount of tradable financial instruments across several asset classes.
Its intuitive trading platform features a variety of tools for traders of all skills, knowledge, experience, or trading style.
Pros and Cons
| PROS | CONS |
| Advanced trading platform | No fixed spread accounts |
| Member of ICF | Restricted leverage |
| Segregated accounts for client funds | US Clients not allowed |
| Strictly regulated | |
| 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. It has been in operation since 2014 and offers traders market news, 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 |
| Market news and analysis provided | No regulation |
| Multilingual 24/7 support | No social trading |
| Proprietary trading platform | No US and UK clients |
Features
| Feature | Information |
| Regulation | None |
| 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 |
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.
RoboForex provides quality insurance for client funds, tight spreads, and access to multiple account types according to trading styles.
It offers attractive bonuses and allows high leverage.
| PROS | CONS |
| Bonuses available | No fixed spread accounts |
| Low minimum deposit | Use of high leverage can lead to big losses |
| Tight spreads |
Features
| Feature | Information |
| Regulation | CySEC, IFSC |
| Minimum deposit | $10 |
| Average spread from | 0.0 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support and hours | 24/5 |
Admiral Markets
Overview
The Admiral Markets Group was established in 2001 and the broker provides its services worldwide through regulated companies.
Admiral Markets offers trading with Forex and CFDs on indices, metals, energies, stocks, bonds, and cryptocurrencies.
Deposits to trading accounts can be made in most national currencies and you can have multiple trading accounts in different currencies at the same time.
| PROS | CONS |
| Advanced trading tools | No bonuses offered |
| Negative balance protection | No fixed spread accounts |
| Segregated client accounts |
Features
| Feature | Information |
| Regulation | FCA, ASIC |
| Minimum deposit | $200 |
| Average spread from | 0.6 pips |
| Commissions from | 0 |
| Deposit/Withdrawal Fees | No |
| Maximum Leverage | 500:1 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
Orbex
Overview
ORBEX is a forex broker company in Cyprus since its establishment in 2011.
ORBEX offers the MT4 trading platform and TradeWorks, a third-party automated trading tool ideal for new traders.
ORBEX requires a minimum deposit of $200 and offers zero spread accounts for deposits from $5 000. Its asset selection is more suitable for less-advanced traders.
Pros and Cons
| PROS | CONS |
| Gives traders access to Trading Central | Extremely high fees |
| Well regulated | High minimum deposits required |
| Zero spread accounts are 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 |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support and hours | 24/5 |
InstaForex
Overview
InstaForex was established in 2007 and is a well-regulated and multi-award-winning broker that offers more than 300 financial instruments for trade 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 offered | Charges commission |
| MetaTrader 4 and 5 available | EU-clients restricted on leverage |
| Variety of account types and instruments | US clients not allowed |
| 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 |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
SuperForex
Overview
SuperForex was founded in 2013 and is based in Belize but operates globally. It is however only regulated by the International Financial Services Commission (IFSC). The broker offers a wide range of financial instruments for trading, investment, and funds management services in more than 150 countries.
Pros and Cons
| PROS | CONS |
| Leverage may be used | Not properly regulated |
| More than 300 instruments to trade | Offshore broker |
| Variety of account types |
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 |
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Frequently Asked Questions
Is forex trading legal in Chad?
Yes. Forex trading is legal in Chad.
How many forex traders are there in Chad?
An estimated 160 000 traders in Chad trade on the financial markets on a monthly basis.
Can beginners trade in forex?
Yes. Anyone can start trading in forex. However, traders must first ensure that they have a clear understanding of forex, the market, and the risks involved before they start trading.
Do these forex brokers offer demo accounts?
Yes. These brokers offer demo accounts that can be used to practice trading, test out strategies, or test out the broker’s offer.
Are these forex brokers regulated and safe to use?
All these brokers are regulated however, some are not regulated by the most reputable authorities.
Top 4 Brokers
