In this article, we explore the 10 Best Forex Brokers in Ghana. These brokers offer advanced and secure features and conditions that will allow you to take your trading to the next level.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Ghana – a List
- Who is the best forex trader in Ghana?
- Which broker is the best in Ghana?
- Is forex trading legal in Ghana?
- The 10 Best Forex Brokers in Ghana for Beginners
- The Best Forex trading platforms in Ghana
- The Best MetaTrader Forex Brokers in Africa
Best Forex Brokers in Ghana – a Comparison
| 📌Broker | 👉Open Account | 🔖Regulation | 💴Minimum Deposit | 💻Platforms |
| 🏅Exness | Open Account | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | GHS 10 / R 11 | MT4, MT5, WebTerminal, Exness Terminal |
| 🥉AvaTrade | Open Account | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | GHS 100 / R 110 | MT4, MT5, Ava Social, Ava Protect, Trading Central |
| 🥇HFM | Open Account | FSCA, DFSA, FSC, CMA. FCA | GHS 0 / R 0 | MT4, MT5, HFM Platform |
| 🥉FXCM | Open Account | FCA | GHS 50 / R 55 | MT4, NinjaTrader, Trading Station |
| 🥈Pepperstone | Open Account | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | GHS 0 / R 0 | MT4, MT5, cTrader, TradingView |
| 🏅FXPro | Open Account | FCA, CySEC, FSCA, SCB | GHS 0 / R 0 | MT4, MT5, |
| 🥈Plus500 | Open Account | CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA | GHS 100 / R 110 | WebTrader |
| 🥉FXTM | Open Account | FCA, FSC, FSCA | GHS 10 / R 11 | MT4, MT5, FXTM Trader |
| 🏅Tickmill | Open Account | CySEC, FCA, FSA, FSCA | GHS 100 / R 110 | MT4, MT5 |
| 🥈Octa | Open Account | CySEC, MISA, FSCA | GHS 25 / R 27 | MT4, MT5, OctaTrader |
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in Ghana Revealed (2025 December)
- ☑️Exness – The Best Overall Trading Experience.
- ☑️AvaTrade – the Best Forex Broker in Ghana.
- ☑️HFM – The Best Forex Broker for Beginners.
- ☑️FXCM – Low GHS Minimum Deposit Forex Broker.
- ☑️Pepperstone – Best Broker with a Referal Bonus.
- ☑️FXPro – The Best MT4 and MT5 Forex Broker.
- ☑️Plus500 – Ideal Forex Broker for Experienced Traders.
- ☑️FXTM – Best Broker with a Micro Account.
- ☑️Tickmill – High User Trust Score.
- ☑️Octa – Best Online Trading Experience.
1. Exness
Exness is an online forex broker founded in 2008 that offers robust platforms like the MetaTrader 4, MetaTrader 5, MT4 web terminals and mobile forex trading, oil, gold, silver, Bitcoin, and other cryptocurrencies for both personal investment and trading.
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Platform
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
There are also 120 forex currency pairs available to traders. They can also enjoy free VPS hosting, updated financial market analysis, Dow Jones news, and features like a trader’s currency converter and calculator.
Features
| Company Information | |
| 📅Year Founded | 2008 |
| 🧑🏻💻Amount of staff | Over 2,100 |
| 👩💻Amount of active traders | Over 320,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA |
| 🌎Country of regulation | Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Standard, Raw Spread, Standard Cent, Zero, Pro |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | EUR/USD & USD/JPY |
| 💰Minimum Deposit | $10 / R179 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant to 1 business day |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | 0.3 pips |
| 💸Commissions | Varies by account type, often commission-free |
| 💱Number of base currencies supported | +40 |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:2000 |
| 📏Margin requirements | 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 200 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit Cards, Bank Transfers, E-Wallets (Skrill, Neteller, etc.), Cryptocurrencies (Bitcoin, Ethereum, etc.) |
| 💵Withdrawal Options | Credit/Debit Cards, Bank Transfers, E-Wallets (Skrill, Neteller, etc.), Cryptocurrencies (Bitcoin, Ethereum, etc.) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), Exness Trade |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support email address | support@exness.com |
| 📞Customer Support Contact Number | +35725030959 |
| 👾Social media Platforms | Facebook, Twitter, |
| 🗣️Languages supported on Website | 15 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 64 000 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, sponsorship agreement with LALIGA, the top professional football division in Spain |
| 🪙Rebate program | Yes |
| South African Trader Specific Information | |
| Does Exness Accept South African Traders? | Yes |
| Is Exness regulated by the South African regulatory body (FSCA)? | Yes |
| Does Exness offer an Affiliate Program for South African Traders? | Yes |
| Does Exness allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Low Minimum Deposit | Limited Research Tools |
| High Leverage | Limited Asset Variety |
| Fast withdrawal process via several methods | Not Available in All Regions |
| Multiple Platforms | Limited Educational Resources |
| Islamic (Swap-Free) Accounts Available | Higher Spreads on Standard Accounts |
Our Findings
A popular choice for its flexibility, Exness offers a range of account types, including swap-free (Islamic) accounts, with high-leverage options.
2. AvaTrade
Established in 2006 and with more than 300k happy traders from 160 countries, the Dublin-based broker AvaTrade is one of the market leaders worldwide. Each month, it executes more than 2 million trades with a volume of around 50 billion Euros.
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Including ETFs and bonds, nearly 200 assets are traded with AvaTrade. In this context, the AvaTrade experience is above average as well. There are three platforms available for trading. The MirrorTrader was added to the in-house AvaTrader and the well-known platform MetaTrader 4.
Features
| Category | Details |
| Company Information | |
| 🏷️Company Name | AvaTrade |
| 📍Headquarters Location | Dublin, Ireland |
| 📅Year Established | 2006 |
| 👤CEO/Founder | Dáire Ferguson |
| 🌐Global Offices | Over 15 offices worldwide, including Japan, Australia, and South Africa |
| 🔖Licensing Body | Central Bank of Ireland, ASIC, FSA (Japan), FSCA (South Africa), ADGM (UAE) |
| 👥Group Companies | Ava Capital Markets, AvaTrade EU, AvaTrade Japan, AvaTrade Middle East |
| 🏛️Business Model | Market Maker |
| 🌍Operational Languages | Over 20 languages, including English, Spanish, French, and Arabic |
| 🏆Awards & Recognitions | Best Broker 2023, Best Trading App 2022, among others |
| Regulation and Security | |
| 🛡️Regulation | CBI, BVI FSC, ASIC, FSCA, ADGM, FRSA, ISA |
| ✔️Compliance Standards | Adheres to MiFID II, ASIC regulations, and other regional compliance standards |
| 💼Client Fund Segregation | Yes, client funds are held in segregated accounts |
| 🪫Negative balance protection | Yes, ensuring traders cannot lose more than their account balance |
| 🕵️♂️Financial Conduct Oversight | Regular audits and monitoring by respective regulatory bodies |
| 💰Insurance Coverage | Professional indemnity insurance in line with regulatory requirements |
| 📋AML & KYC Policy | Strict Anti-Money Laundering (AML) and Know Your Customer (KYC) policies |
| 🔒Security of Trading Platform | Advanced SSL encryption, two-factor authentication (2FA), and secure servers |
| 🛡️Investor Compensation Fund | Member of investor compensation schemes depending on regional regulations |
| 🖥️Cybersecurity Measures | Robust firewalls, regular penetration testing, and secure backups |
| Account Types and Features | |
| ⚙️Standard Account | Yes, available with competitive features |
| 📊ECN Account | No, AvaTrade does not offer an ECN account |
| 🌙Islamic Account | Yes, swap-free accounts are available for Muslim traders |
| 🎮Demo Account | Yes, a free demo account is available with virtual funds |
| 👑VIP Account | Yes, available for high-net-worth traders with enhanced features |
| 💵Minimum Deposit | $100 / R1806 |
| 💱Base Currencies | USD, EUR, GBP, AUD, and others depending on the region |
| ⚖️Leverage Options | Up to 1:400 (varies based on region and asset class) |
| 📈Spreads (Fixed/Variable) | Fixed spreads EUR/USD starts at 0.9 pips |
| 🔄Swap-Free Accounts | Yes, available for Islamic accounts |
| 🌐Account Currency Conversion | Yes, account currencies can be converted during setup |
| 🚨Margin Call Level | 50% |
| ❌Stop-Out Level | 20% |
| 🔄Hedging Allowed | Yes |
| ⚡Scalping Allowed | No, scalping is not permitted under AvaTrade’s policies |
| 🔁Copy Trading Support | Yes, through integration with ZuluTrade and DupliTrade |
| 👥Social Trading Features | Yes, via third-party platforms |
| 💼Managed Accounts | No, AvaTrade does not offer managed accounts |
| Trading Conditions | |
| 🔍Average Spreads | EUR/USD starts from 0.9 pips (fixed spreads) |
| 💲Commissions per Trade | None, spreads only |
| 🔢Leverage Range | Up to 1:400 |
| 🚀Execution Speed | Ultra-fast execution |
| 📊Order Execution Type | Market execution |
| 🔄Slippage Policy | Minimal slippage, detailed in terms |
| 📏Margin requirements | Varies by asset class |
| ⏹️Stop-Loss and Take-Profit Orders | Yes |
| 🔁Trailing Stops | Yes |
| 🕑Pending Orders | Yes |
| 🔽Partial Fills | Yes |
| 🧾Dividend Adjustments | Yes |
| 🌙Overnight Swap Fees | Applicable, waived for Islamic accounts |
| 📆Rollover Policy | Follows market standards |
| 🛑Guaranteed Stop Loss | Yes, for specific instruments |
| Trading Instruments | |
| 💹Forex Currency Pairs | 55+ pairs, including majors, minors, and exotics |
| 🪙Precious Metals (Gold/Silver) | Yes |
| 📈Indices | Yes |
| 🌾Commodities | Yes, including soft commodities |
| ⛽Energies (Oil/Natural Gas) | Yes |
| ₿Cryptocurrencies | Yes (via platforms and email) |
| 📉Stocks | Yes, global stocks available |
| 🗂️ETFs | Yes |
| 🏛️Bonds | No |
| 📜Futures Contracts | No |
| 🛡️Options Contracts | Yes |
| ⚖️CFDs (Contracts for Difference) | Yes |
| 🔣Swap on Trading Board | Yes |
| 🔀Leveraged Instruments | Yes, leverage up to 1:400 |
| 🎯Micro-Lot Trading | Yes |
| 💸Spread Betting | Yes, available in some regions |
| 🧺Currency Baskets | No |
| Deposits and Withdrawals | |
| 💳Deposit Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller), Local Payment Methods |
| 💵Withdrawal Methods | Credit/Debit Cards, Bank Wire Transfer, E-Wallets (Skrill, Neteller) |
| ⏱️Processing Time for Deposits | YesInstant for most methods, 1-3 business days for bank transfers |
| 🕒Processing Time for Withdrawals | 24-48 hours for most methods, up to 5 business days for bank transfers |
| 🚫Deposit Fees | No |
| 💵Withdrawal Fees | No |
| 🔢Minimum Deposit Amount | $100 |
| 📉Minimum Withdrawal Amount | $100 (may vary by method) |
| 🚪Maximum Withdrawal Limit | No specific limit, subject to account balance |
| 💱Supported Currencies | USD, EUR, GBP, AUD, and more |
| ₿Crypto Deposits & Withdrawals | Not supported |
| 🏦Bank Wire Transfers | Supported |
| 💳Credit/Debit Cards | Supported |
| 📲E-Wallets (Skrill, Neteller, etc.) | Supported |
| 🏘️Local Payment Methods | Supported (varies by region) |
| Trading Platforms and Tools | |
| 💻MetaTrader 4 (MT4) | Yes, fully supported |
| 👩💻MetaTrader 5 (MT5) | Yes, available for advanced trading |
| 🖥️Proprietary Platform | Yes, AvaTradeGo and WebTrader |
| 📱Mobile Trading App | Yes, AvaTradeGo offers comprehensive mobile trading |
| 🌐Web-Based Platform | Yes, WebTrader is available |
| 🤖Trading Bots | Yes, compatible with EAs (Expert Advisors) |
| 🖧VPS Services | Available upon request |
| 🔌API Connectivity | No |
| 📉Charting Tools | Advanced charting tools are available |
| 🧮Custom Indicators | Supported via MT4/MT5 |
| 🧠Market Sentiment Analysis | Yes, integrated into platforms |
| 📩Trading Signals | Yes, via partnerships with Trading Central |
| 🏷️Advanced Order Types | Yes, including stop orders and limit orders |
| ⚠️Risk Management Tools | Yes, includes guaranteed stop-loss and negative balance protection |
| 📅Economic Calendar | Yes, provided within the platform |
| 📰Market News Feed | Yes, updated in real-time |
| Customer Support | |
| 📞Support Channels | Live Chat, Email, Phone, FAQ/Help Center |
| 🗨️Live Chat Availability | 24/5 |
| 📧Email Support | Available |
| 📱Phone Support | Available |
| 🌍Multilingual Support | Yes, supports multiple languages |
| ❓Help Center/FAQ | Comprehensive Help Center and FAQs |
| 👨💼Dedicated Account Manager | Available for premium accounts |
| ⏲️Response Time (Live Chat) | Within a few minutes |
| 🕒Response Time (Email) | 24-48 hours |
| ⭐Support Rating | High-rated for responsiveness and efficiency |
| Educational Resources and Support | |
| 🎥Webinars | Regular webinars on various trading topics |
| 🏫Seminars | Available in selected locations |
| 📖Trading Tutorials | Comprehensive beginner and advanced tutorials |
| 📊Market Analysis Reports | Daily and weekly market analysis reports |
| 📚E-Books | Various e-books covering different aspects of trading |
| 🎬Video Library | Extensive library with video tutorials |
| 📜Glossary | Detailed glossary of trading terms |
| ❔FAQs | Frequently Asked Questions section covering general and account-related inquiries |
| 🆕Beginner Guides | Step-by-step beginner guides to help new traders |
| 🚀Advanced Trading Strategies | In-depth strategies for experienced traders to enhance trading skills |
| Partnerships and Programs | |
| 📋IB Program | Yes |
| 🪪Affiliate program? | Commission-based program for affiliates promoting AvaTrade |
| 🏷️White Label Solutions | Customized solutions for financial institutions and brokers to offer AvaTrade's services under their brand |
| 🎁Partnership Rewards | Rewards and bonuses for partners based on performance and business growth |
| 🏛️Institutional Solutions | Tailored solutions for financial institutions, including liquidity services |
| 🔌API Partnership | AvaTrade offers API access for integrating their trading services into third-party platforms |
| 🤝Referral Program | Incentives for clients who refer new traders to AvaTrade |
| Fees & Charges | |
| 💳Deposit Fees | No deposit fees for most methods |
| 📤Withdrawal Fees | No withdrawal fees for most methods |
| 💤Inactivity Fee | Inactivity fee of $50/month after 3 months of no trading activity |
| 🌜Overnight Fees (Swaps) | Charges/credits depend on the position, asset class, and market conditions |
| 💱Conversion Fees | Conversion fees apply when depositing or withdrawing in a different currency than the account's base currency |
| 💰Commission on Trades | No commission for standard accounts, but commissions may apply for certain account types like ECN accounts |
| Market Research Tools | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📅Economic Calendar | AvaTrade offers an economic calendar with key financial events and news updates. |
| 📰Market News | AvaTrade provides real-time market news from leading financial sources. |
| 📩Trading Signals | AvaTrade offers trading signals through third-party providers and on its platform. |
| 🔧Technical Analysis Tools | AvaTrade includes charting tools, technical indicators, and analysis features. |
| 💭Sentiment Analysis | AvaTrade provides sentiment indicators, showing the market mood and trends. |
| Additional Features | |
| 👥PAMM/MAM Accounts | AvaTrade offers PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) accounts for fund managers and clients. |
| 🔗Social Trading Platform | AvaTrade provides a social trading platform allowing users to follow and copy trades of others. |
| 🏆Trading Competitions | AvaTrade hosts periodic trading competitions with cash prizes and other rewards. |
| 🎁Loyalty Rewards | AvaTrade has a loyalty program offering benefits such as bonuses and other perks for active traders. |
| 👑Exclusive VIP Perks | AvaTrade offers VIP clients exclusive services like personalized account management and special offers. |
| Promotions & Bonuses | |
| 🎁Welcome Bonus | AvaTrade offers a welcome bonus to new clients upon opening and funding their accounts. |
| 💵Deposit Bonus | AvaTrade may offer deposit bonuses, providing additional trading funds on qualifying deposits. |
| 🏅Trading Contests | AvaTrade organizes trading contests, where participants can win prizes based on their trading performance. |
| 🌟Seasonal Promotions | AvaTrade runs seasonal promotions throughout the year, offering special deals and bonuses. |
| 🎖️Loyalty Programs | AvaTrade offers loyalty programs that reward clients for their continued trading activity with perks and bonuses. |
| User Experience & Reviews | |
| 🖥️User Interface Quality | AvaTrade’s platform offers a clean and intuitive interface, designed for both beginner and experienced traders. |
| 🔒Platform Stability | AvaTrade’s platform is known for its stability, with minimal downtime and robust performance under various market conditions. |
| 📱Mobile App Reviews | The mobile app receives positive reviews for its ease of use, offering a wide range of features similar to the desktop platform. |
| ⭐Overall User Rating | AvaTrade generally holds a solid rating from users, with many praising its comprehensive offerings and user-friendly interface. |
| 🌟Trustpilot Rating | AvaTrade maintains a strong Trustpilot rating, with many clients expressing satisfaction with their services. |
| 😟Common Complaints | Common complaints include slow customer support response times and occasional withdrawal issues. |
| Mobile | |
| 📱Mobile App Name | AvaTradeGO |
| 🛠️Developer | AvaTrade Ltd. |
| 📅Release Year | 2019 |
| 💻OS Compatibility | iOS, Android |
| 🌐Languages Supported | English, French, Spanish, Italian, Arabic, Portuguese, and others |
| 📈Trading Instruments | Forex, CFDs, Commodities, Stocks, Indices, Cryptocurrencies |
| 🔄Real-Time Data | Yes, with live market data and updates |
| 🛠️Charting Tools | Advanced charting tools with technical analysis indicators |
| 📊Order Types Supported | Market Orders, Limit Orders, Stop Orders, OCO, Trailing Stop |
| 🚀Order Execution Speed | Fast, near-instant execution on mobile |
| 🔔Custom Alerts | Yes, users can set price alerts and notifications |
| 🤝Beginner-Friendly | Yes, the app is designed with simplicity and ease of use |
| 🔐Security Features | Two-factor authentication (2FA), encryption |
| 🖥️Synchronization | Syncs across all devices (mobile and desktop) |
| 💰Deposit and Withdrawal | Yes, mobile deposits and withdrawals are supported |
| 📝Account Types Accessible | All account types available, including demo accounts |
| 🔄Switch Accounts | Yes, users can switch between accounts easily |
| 💬In-App Support | Live chat support available within the app |
| 📚Educational Resources | Access to tutorials, webinars, and market analysis |
| 🎯Watchlist | Yes, users can create and manage a personalized watchlist |
| 🌙Dark Mode | Yes, the app supports dark mode for better visibility |
| 🌐Social Trading | Yes, users can engage in social trading within the app |
| AI Trading Resources | |
| 🤖AI Integration | AvaTrade offers AI-powered trading tools, integrated into the platform |
| 📊Data Analysis | Yes, AI-driven data analysis for enhanced decision-making |
| 📈Predictive Analytics | Yes, predictive tools are available to anticipate market trends |
| 🛠️Customizable Strategies | Yes, users can customize their trading strategies using AI tools |
| 📉Risk Management Tools | Advanced AI tools to assess and manage trading risks |
| 🧑🏫Trading Insights | AI-based insights and recommendations for optimal trades |
| 🚀Execution Optimization | AI-driven algorithms that optimize order execution speed |
| 🔄Portfolio Rebalancing | Yes, AI can assist in portfolio rebalancing based on market changes |
| 📚AI Tutorials | Available educational resources on how to use AI tools in trading |
| 🎥Video Demonstrations | Yes, video tutorials explaining how to use AI features |
| 🧑🤝🧑Webinars | Yes, webinars are available to discuss AI trading strategies |
| 🔍AI-Powered Search | Yes, search tools are enhanced with AI to provide more accurate results |
| 🌟Beginner-Friendly | Yes, AI tools are designed to be accessible for beginners |
| 🖥️Platform Availability | Available on both desktop and mobile platforms |
| 📈Backtesting Capability | Yes, users can backtest strategies using historical data |
| 🛠️Strategy Builder | Yes, users can build and customize their own AI-driven strategies |
| 🔔Alerts and Notifications | Yes, AI-powered alerts for market events and strategy changes |
| 🔒Data Protection | Strong encryption and data protection measures in place |
| 👁Transparency | Full transparency on how AI algorithms work and make decisions |
| Social Media Platformst | |
| AvaTrade is active on Facebook, providing updates, news, and promotions. |
|
| AvaTrade uses Instagram to share educational content, market analysis, and trading tips. |
|
| AvaTrade regularly tweets market insights, promotions, and company news. | |
| AvaTrade maintains a professional LinkedIn presence, sharing company updates and industry news. | |
| 🎥YouTube | AvaTrade's YouTube channel features tutorials, webinars, market updates, and promotional content. |
| 👉Open Account | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Wide Range of Assets | Average Spreads |
| Supports MT4, MT5, AvaTradeGO, and WebTrader | US Clients not allowed |
| Regulated in Multiple Jurisdictions | Only one account type for either retail or professionals |
| Islamic (Swap-Free) Accounts Available | Limited Cryptocurrency Options |
| Comprehensive Educational Resources | Customer Service Can Be Slow |
Our Findings
3. HFM
HotForex is a non-dealing desk Forex broker that provides trading solutions for active day traders and scalpers as well as traders that are new to the Forex market.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
HotForex offers some of the smallest spreads, best fill times, and fastest execution in the world, which is why it is so popular with over 2,000,000 traders.
HotForex trading conditions are widely regarded as well above the industry standard. They place a strong emphasis on competitive spreads and commission charges.
Features
| 🔎Broker | 🥇HFM |
| Company Information | |
| 👨💼 Year Founded | 2010 |
| 👩💼👨💼 Current CEO | George Koumantaris |
| 👩💼👨💼 Founder/s | George Koumantaris, Marcos Kappos |
| 👥 Amount of staff | 200+ globally |
| 👨💻 Amount of active traders | Over 2 million |
| 📈 Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🇬🇧 Regulation | FCA (UK), FSCA (South Africa), CySEC (Cyprus), DFSA (Dubai), FSA (Seychelles) |
| 🇬🇧 Country of regulation | United Kingdom, South Africa, Cyprus, Dubai, Seychelles |
| 💼 Account Segregation | Yes, client funds are kept in segregated accounts |
| 🚫 Negative balance protection | Yes, available to retail clients |
| 🔐 Two-step Authentication | Yes, supports 2FA for extra account security |
| 🛡️ Investor Protection Schemes | Yes, clients are protected under the Investor Compensation Fund (ICF) in Europe |
| Account Types and Features | |
| 🏦 Institutional Accounts | Yes, available for institutional clients |
| 📊 Managed Accounts | Yes, PAMM and MAM accounts are offered |
| 💱 Minor account currencies | USD, EUR, ZAR, NGN, GBP, and more |
| 💰 Minimum Deposit | USD 0 / 0 ZAR |
| Trading Conditions | |
| ⏳ Average deposit/withdrawal processing time | Deposits: Instant; Withdrawals: 1-3 business days |
| 💵 Fund Withdrawal Fee | No fees for most methods, but some third-party charges may apply |
| 📉 Spreads from | As low as 0.1 pips on the Zero Spread account |
| 💸 Commissions | $3 per lot on Zero Spread accounts |
| 🌍 Number of base currencies supported | 10+ (including USD, EUR, ZAR, NGN, and GBP) |
| 📈 Swap Fees | Swap fees vary by instrument, but Islamic (swap-free) accounts are available |
| 📈 Leverage | Up to 1:1000 depending on the jurisdiction and account type |
| 📊 Margin requirements | Starting at 0.5%, varies by asset class and leverage level |
| 🌙 Islamic account (swap-free) | Yes, available for all account types |
| 🎓 Demo Account | Yes, unlimited free demo accounts |
| ⏱️ Order Execution Time | < 1 second on average |
| ☁️ VPS Hosting | Yes, free VPS for qualifying traders |
| 🌍 Global Offices | Multiple locations worldwide: Cyprus, UK, Dubai, South Africa, Seychelles |
| 👆 One-Click Trading | Yes, available on MT4 and MT5 platforms |
| 🤖 Expert Advisors | Yes, fully supported on MT4 and MT5 |
| Trading Instruments | |
| 📊 CFDs-Total Offered | 1,200+ CFDs |
| 📈 CFD Stock Indices | Yes, 15+ indices available |
| 🛢️ CFD Commodities | Yes, includes Gold, Oil, and Silver |
| 📉 CFD Shares | Yes, 50+ global stocks |
| 👀 Watch list | Yes, customizable watchlists |
| 🔔 Trade Alerts | Yes, available through the platforms |
| 📈 Trading Stocks with GP | Yes, stock trading is available via CFDs |
| 📊 Trading Indices with GP | Yes, index trading via CFDs available |
| 🛠️ Swap on trading board | Yes, swaps are visible on the trading platforms |
| Deposits and Withdrawals | |
| 💳 Deposit Options | Credit/Debit Card, Bank Transfer, E-wallets (Skrill, Neteller), Crypto |
| 💸 Withdrawal Options | Bank Transfer, Credit/Debit Card, E-wallets (Skrill, Neteller), Crypto |
| 🎁 Welcome Bonus | Yes, 100% SuperCharged Bonus available |
| Trading Platforms and Tools | |
| 💻 Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), HFM mobile app |
| 🚦 Stop-loss Instrument | Yes, fully supported |
| 🛡️ Investor Protection Schemes | Yes, as per regulation, compensation schemes apply |
| 🖥️ OS Compatibility | Windows, Mac, Linux, Android, iOS |
| 🔧 Forex trading tools | Yes, Autochartist, Trading Central, and more |
| 💬 Customer Support | |
| 💬 Live chat availability | Yes, 24/5 live chat support |
| 📧 Customer Support Email address | support@hfm.com |
| 📞 Customer Support Contact Number | +44 123 456 7890 |
| 🌐 Languages supported on HFM Website | English, Afrikaans, Arabic, Chinese, and more |
| Educational Resources and Support | |
| 👍 Beginners Trader friendly UX | Yes, beginner-friendly platform design |
| 📚 Forex course | Yes, free educational courses available |
| 🖥️ Webinars | Yes, regular free webinars provided |
| 📖 Educational Resources | Yes, includes tutorials, eBooks, and market analysis |
| Partnerships and Programs | |
| 🤝 Affiliate program? | Yes, generous affiliate program offered |
| 🤝 Amount of partners | 1,000+ affiliates globally |
| 📈 IB Program | Yes, multi-tier IB (Introducing Broker) program available |
| ⚽ Do they sponsor any notable events or teams? | Yes, HFM sponsors various sports teams and events |
| 💰 Rebate program | Yes, rebate program for active traders |
| 🗨️ Community Forum | Yes, online trader community and forum available |
| Social Media Platforms | |
| 🌐 Official Website address | hfm.com |
| 📘 Official Facebook Page | HFM Facebook |
| 🐦 Official Twitter Page | HFM Twitter |
| 📺 Official YouTube Channel | HFM YouTube |
| 🔗 Official Linkedin Page | HFM LinkedIn |
| 📸 Official Instagram Page | HFM Instagram |
| Regulatory Status in South Africa | |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🏛️ Is HFM regulated by the South Africa regulatory body (FSCA)? | Yes, licensed under FSCA |
| 🤝 Does HFM offer an Affiliate Program for South African Traders? | Yes, dedicated SA affiliate program |
| 💱 Does HFM allow accounts to be opened in ZAR / Rands? | Yes, ZAR-denominated accounts supported |
| 🚀Open Account | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Competitive trading conditions offered | Limited Asset Variety |
| Strictly and well-regulated | No Proprietary Platform |
| Strong international presence | Inactivity Fees |
| A vast variety of account types offered | Customer Support Response Times |
| Comprehensive Educational Resources | Limited Crypto Trading |
Our Findings
Known for algorithmic trading and comprehensive market analysis tools, HFM also provides Islamic accounts and competitive trading fees.
4. FXCM
FXCM is a highly rated broker offering forex trading services and other education-related services, therefore a user-friendly environment is offered.
The company was established in 1999 and its clients trade in different assets such as currencies, commodities, and indices among many others.
Min Deposit
USD 50
Regulators
FCA
Trading Platform
MT4, NinjaTrader, Trading Station
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The Broker also supports additional platforms such as MT4 and its Trading Station which is known for easy-to-use advanced charting tools.
The broker has been regulating activities of its clients within allowable limits of risk and this is in part because it is under the speculated rule of several high-ranked regulatory bodies like FCA in the UK and FSCA in South Africa.
Features
| Company Information | |
| 📅Year Founded | 1999 |
| 🧑🏻💻Amount of staff | Over 150 |
| 👩💻Amount of active traders | Not publicly disclosed |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FCA (UK), ASIC (Australia), FSCA (South Africa), CySEC (Cyprus) |
| 🌎Country of regulation | UK, Australia, South Africa, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, through regulatory bodies |
| Account Types and Features | |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR, GBP, AUD, JPY, CAD |
| 💰Minimum Deposit | $50 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-2 business days |
| 🪙Fund Withdrawal Fee | Varies by method |
| 📊Spreads from | 1.3 pips on EUR/USD |
| 💸Commissions | None on standard accounts |
| 💱Number of base currencies supported | 4 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 30:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 20-30 milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 350 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay, others |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, Trading Station, NinjaTrader, ZuluTrade |
| 👩💻OS Compatibility | Web-based (All major browsers), Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Trading signals, Market analysis tools, Automated trading |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | info@fxcm.com |
| 📞Customer Support Contact Number | +44 2073984050 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, French, German, Chinese, Italian, Arabic, more |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Video tutorials, Articles, Webinars, Market analysis |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Not publicly disclosed |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉 Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Regulated by FCA, FSCA, and ASIC, providing a safe trading environment | Primarily focused on forex and a few CFDs |
| User-Friendly Platforms | Charges apply after 12 months of inactivity |
| Low Minimum Deposit | Higher compared to some brokers, especially for major currency pairs |
| Comprehensive Educational Tools | Limited access to crypto assets compared to competitors |
| Multiple Account Types | Limited Crypto Trading |
Our Findings
FXCM highlights its reputation as a reliable and well-regulated broker, with oversight from the FCA and other financial authorities, ensuring a level of trust for traders.
5. Pepperstone
Pepperstone Group Limited is the holding company of Pepperstone, a multi-asset, multi-regulated CFD broker that operates globally and is headquartered in Melbourne.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Clients can access the 150+ CFD instruments. There are more than 70 currency markets to trade. The firm’s reputation as a forex specialist has been built on, and it now offers markets in commodities, cryptocurrencies, indices, and shares from three platforms – MT4, MT5, and cTrader.
Features
| 🔎Broker | Pepperstone |
| Company Information | |
| 📅Year Founded | 2010 |
| Current CEO | Chris Perry |
| Founder/s | Chris Perry, Nick Madden |
| 🧑🏻💻Amount of staff | 300+ |
| 👩💻Amount of active traders | 150,000+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | ASIC, FCA, DFSA, IIROC, MAS |
| 🌎Country of regulation | Australia, United Kingdom, Dubai, Canada, Singapore |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| Two-step Authentication | Yes |
| Stop-loss Instrument | Yes |
| 🔋Investor Protection Schemes | Yes (varies by jurisdiction) |
| Account Types and Features | |
| ➕Accounts | Standard, Razor, Swap-Free |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | Yes (AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD) |
| 💰Minimum Deposit | $200 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Same-day |
| 🪙Fund Withdrawal Fee | No fee |
| 📊Spreads from | 0.0 pips |
| 💸Commissions | Varies by account type |
| 💱Number of base currencies supported | 8 |
| 🚀Swap Fees | Varies by instrument |
| 📈Leverage | Up to 500:1 |
| 📏Margin requirements | Vary by instrument |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Fast execution |
| 📆VPS Hosting | Available |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 1,200+ |
| 🗠CFD Stock Indices | 30+ |
| ⚖️CFD Commodities | 40+ |
| 📜CFD Shares | 7,000+ |
| Watch list | Yes |
| Trade Alerts | Yes |
| Trading Indices with GP | Yes |
| Trading Stocks with GP | Yes |
| Swap on trading board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, PayPal, Skrill, Neteller, UnionPay |
| 💵Withdrawal Options | Credit/debit cards, bank transfers, PayPal, Skrill, Neteller, UnionPay |
| Welcome Bonus | No |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MT4, MT5 |
| 👩💻OS Compatibility | Windows, Mac, Android, iOS |
| 🖥️Forex trading tools | Economic calendar, charting tools, news feed, sentiment analysis |
| Customer Support | |
| 🗣️Live chat availability | 24/5 |
| 📱Customer Support email address | support@pepperstone.com |
| 📞Customer Support Contact Number | +61 3 9039 6300 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🗣️Languages supported on Website | English, Chinese, French, German, Italian, Japanese, Portuguese, Spanish |
| Educational Resources and Support | |
| Beginners Trader friendly UX | Yes |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Articles, guides, videos |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 10,000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes (e.g., Pepperstone Racing) |
| 🪙Rebate program | Yes (for Introducing Brokers) |
| 💸Commission Fee | Varies by account type and trading volume |
| Social Platforms | |
| Official Facebook Page | https://www.facebook.com/Pepperstonefx/ |
| Official Twitter Page | https://twitter.com/pepperstonefx?lang=en |
| Official Youtube Channel | https://www.youtube.com/channel/UCrNLfyB-wvPotj4RHR_dcSA |
| Official Linkedin Page | https://au.linkedin.com/company/pepperstone |
| Official Instagram Page | https://www.instagram.com/pepperstonefx/ |
| Official Website address | https://pepperstone.com/en-au/ |
| South African Trader Specific Information | |
| Does Pepperstone Accept South African Traders? | Yes |
| Is Pepperstone regulated by the South African regulatory body (FSCA)? | No |
| Does Pepperstone offer an Affiliate Program for South African Traders? | Yes |
| Does Pepperstone allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Low Spreads and Commissions | Limited Research Tools |
| Supports Multiple Platforms | No Proprietary Platform |
| Ideal for scalpers and high-frequency traders | Limited Asset Variety |
| Well-Regulated Broker | Inactivity Fees |
| Wide Range of Educational Resources | No Bonus Offers |
Our Findings
Pepperstone offers various account types, including ECN and Islamic accounts. It has a high trust score and caters to both beginners and advanced traders.
6. FxPro
FxPro is a part of the FxPro Group Limited. Founded in 2006, the subsidiaries include FxPro Financial Services Ltd, FxPro UK Limited, and FxPro Global Markets Ltd.
Min Deposit
USD 100
Regulators
FCA, CySEC, FSCA, SCB
Trading Platform
MT4, MT5
Crypto
No
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The multi-regulated broker is authorized and regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA), and the Securities Commission of The Bahamas (SCB).
Individuals registering with the CFD broker can trade in 260+ financial instruments across five asset classes- FX, metals, shares indices, energy, and futures.
Features
| Company Information | |
| Company Name | FxPro |
| 🏢 Company Information | FxPro Group Limited |
| 📅 Year Founded | 2006 |
| 👩💼👨💼 Current CEO | Charalambos Psimolophitis |
| 👩💼👨💼 Founder/s | Denis Sukhotin |
| 👥 Amount of staff | Over 200 employees |
| 👨💻 Amount of active traders | Over 1.8 million |
| 📈 Publicly Traded (Listed Company) | No |
| 🇬🇧 Regulation and Security | Strong regulatory oversight |
| 🇬🇧 Regulation | FCA, CySEC, FSCA |
| 🇬🇧 Country of regulation | UK, Cyprus, South Africa |
| 💼 Account Segregation | Yes, funds are segregated |
| 🚫 Negative balance protection | Yes |
| 🔐 Two-step Authentication | Available |
| 🛡️ Investor Protection Schemes | Yes, under regulatory authorities |
| 📋 Account Types and Features | Standard, MT4, MT5, and cTrader accounts |
| 🏦 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 💱 Minor account currencies | USD, EUR, GBP, ZAR |
| 💰 Minimum Deposit | $100 / 1700 ZAR |
| 📊 Trading Conditions | Competitive spreads, fast execution |
| ⏳ Average deposit/withdrawal processing time | 1-2 business days |
| 💵 Fund Withdrawal Fee | No fees on most methods |
| 📉 Spreads from | 0.0 pips |
| 💸 Commissions | On cTrader accounts (from $4.5) |
| 🌍 Number of base currencies supported | 7 |
| 📈 Swap Fees | Yes, applicable on overnight trades |
| 📈 Leverage | Up to 1:500 |
| 📊 Margin requirements | 2% |
| 🌙 Islamic account (swap-free) | Yes |
| 🎓 Demo Account | Yes, unlimited |
| ⏱️ Order Execution Time | < 11ms |
| ☁️ VPS Hosting | Available for high-frequency traders |
| 🌍 Global Offices | UK, Cyprus, Bahamas, Dubai |
| 👆 One-Click Trading | Yes |
| 🤖 Expert Advisors | Supported on MT4/MT5 |
| 📊 Trading Instruments | Forex, Stocks, Indices, Metals, Energy |
| 📊 CFDs-Total Offered | Over 2000 instruments |
| 📈 CFD Stock Indices | Yes, major global indices |
| 🛢️ CFD Commodities | Yes, energy and metals |
| 📉 CFD Shares | Yes, large selection |
| 👀 Watch list | Customizable |
| 🔔 Trade Alerts | Yes |
| 📈 Trading Stocks with GP | Yes |
| 📊 Trading Indices with GP | Yes |
| 🛠️ Swap on trading board | Yes |
| 💳 Deposits and Withdrawals | Credit/Debit cards, Bank Wire, PayPal, Skrill, Neteller |
| 💳 Deposit Options | Multiple methods supported |
| 💸 Withdrawal Options | Same as deposit methods |
| 🎁 Welcome Bonus | No |
| 💻 Trading Platforms and Tools | MT4, MT5, cTrader, FxPro Edge |
| 🚦 Stop-loss Instrument | Yes |
| 🛡️ Investor Protection Schemes | Yes, under regulatory bodies |
| 🖥️ OS Compatibility | Windows, macOS, iOS, Android |
| 🔧 Forex trading tools | Yes, extensive |
| 💬 Customer Support | 24/5 support available |
| 💬 Live chat availability | Yes, 24/5 |
| 📧 Customer Support Email address | support@fxpro.com |
| 📞 Customer Support Contact Number | +44 (0) 203 151 5550 |
| 🌐 Languages supported on FxPro Website | 18 languages |
| 📚 Educational Resources and Support | Webinars, articles, video tutorials |
| 👍 Beginners Trader friendly UX | Yes |
| 📚 Forex course | Yes, basic to advanced |
| 🖥️ Webinars | Yes |
| 📖 Educational Resources | Yes, rich library |
| 🤝 Partnerships and Programs | Yes |
| 🤝 Affiliate program? | Yes |
| 🤝 Amount of partners | 10,000+ |
| 📈 IB Program | Yes |
| ⚽ Do they sponsor any notable events or teams? | Yes, McLaren F1 team |
| 💰 Rebate program | Yes, for IBs |
| 🗨️ Community Forum | No |
| 📱 Social Media Platforms | Facebook, Twitter, Instagram, YouTube, |
| 🌐 Official Website address | FxPro |
| 📘 Official Facebook Page | FxPro |
| 🐦 Official Twitter Page | FxPro |
| 📺 Official YouTube Channel | FxPro |
| 🔗 Official Linkedin Page | FxPro |
| 📸 Official Instagram Page | FxProGlobal |
| 🇿🇦 Regulatory Status in South Africa | FSCA regulated |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🏛️ Is FxPro regulated by the South Africa regulatory body (FSCA)? | Yes |
| 🤝 Does FxPro offer an Affiliate Program for South African Traders? | Yes |
| 💱 Does FxPro allow accounts to be opened in ZAR / Rands? | Yes |
| 🚀 Open Account | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Wide Range of Platforms | Higher Minimum Deposit |
| Well-Regulated Broker | Average Spreads |
| Diverse Asset Offering | Limited Promotions |
| Fast Execution Speeds | Customer Support Issues |
| Islamic (Swap-Free) Accounts Available | Complex Fee Structure |
Our Findings
FxPro reveals that it is a well-regarded broker, offering a wide range of trading platforms, including MT4, MT5, and cTrader, which cater to various trading preferences.
7. Plus500
Plus500 is a well-established forex and CFD broker that provides a simple yet effective trading platform for web and mobile applications.
Plus500 reviews are favorable in most cases, as this broker is licensed by regulators such as the FCA, ASIC, and CySEC, making online trading with Plus500 safe.
Min Deposit
USD 100
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Platform
WebTrader
Crypto
Yes (Availability subject to regulations)
Total Pairs
70+
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Such a broker offers a wide variety of financial instruments which include, but are not limited to, currency pairs, commodities, indices, digital currencies, and shares of companies.
What makes this broker more attractive to many traders is the fact that it operates a no-commission trading policy that utilizes spreads for business purposes.
Features
| 🔎Broker | Plus500 |
| Company Information | |
| 📅Year Founded | 2008 |
| 🧑🏻💻Amount of staff | 569 |
| 👩💻Amount of active traders | 280,769 active users |
| 🌐Publicly Traded (Listed Company) | Yes, on the London Stock Exchange's Main Market |
| Regulation and Security | |
| 🛡️Regulation | FCA, ASIC, CySEC, MAS, FSCA |
| 🌎Country of regulation | UK, Cyprus, Australia, New Zealand, Singapore, South Africa, Israel, Seychelles, Estonia, United Arab Emirates, Japan |
| 💻Account Segregation | Yes, client funds are held in segregated bank accounts |
| 🪫Negative balance protection | Yes, in some jurisdictions |
| 🔋Investor Protection Schemes | £85k to UK, €20k to EU clients, and $0 to other clients |
| Account Types and Features | |
| ➕Accounts | Retail Account |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | EUR/JPY, AUD/JPY, and GBP/EUR |
| 💰Minimum Deposit | $100 / R1806 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | $0 |
| 📊Spreads from | 0.8 pips |
| 💸Commissions | No commission is charged |
| 💱Number of base currencies supported | 48 |
| 🚀Swap Fees | Yes, Charged on leveraged overnight positions |
| 📈Leverage | 1:30 |
| 📏Margin requirements | Yes |
| ☪️Islamic account (swap-free) | No |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically fast (seconds) |
| 📆VPS Hosting | Not offered |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 2800 financial instruments, including Shares, Forex, Indices, Commodities, ETFs and Options. |
| 🗠CFD Stock Indices | Yes, including FTSE 100 |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank wires, credit/debit cards, Skrill, Neteller, and Paypal. |
| 💵Withdrawal Options | Bank wires, credit/debit cards, Skrill, Neteller, and Paypal. |
| Trading Platforms and Tools | |
| 💻Trading Platforms | User-friendly web and mobile platforms |
| 👩💻OS Compatibility | Windows, Mac, Web-based |
| 🖥️Forex trading tools | Cryptocurrencies, Forex, indices, commodities, shares, options, ETFs |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support Online Whatsapp | Yes 24/7 |
| 📞Customer Support Contact Number | +65 6320 1111 and +65 6320 1119. |
| 👾Social media Platforms | Yes (Facebook, Twitter, etc.) |
| 🗣️Languages supported on Plus500 Website | 32 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Not offered |
| 🧏♀️Webinars | Free Trading Webinars & Market Analyses |
| 📚Educational Resources | Free trading e-book, How to Videos etc. |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 40 000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | BSC Young Boys Super League, Italian Serie A club Atalanta and Polish Ekstraklasa team Legia Warsaw. |
| 🪙Rebate program | Yes |
| South African Trader Specific Information | |
| Does Plus500 Accept South African Traders? | Yes, offer full-trading package to South African traders. |
| Is Plus500 regulated by the South African regulatory body (FSCA)? | Yes, it is regulated and licensed by the FSCA. |
| Do Plus500 offer an Affiliate Program for South African Traders? | Yes, It offers an Affiliate program for most regions. |
| Do Plus500 allow opening trading accounts in ZAR? | The company supports having a base account currency in ZAR. |
| 👉Open Account | Open Account (CFD Service. Your capital is at risk) |
Pros and Cons
| ✅Pros | ❌Cons |
| Commission-Free Trading | No Support for MT4/MT5 |
| User-Friendly Platform | Limited Research Tools |
| Regulated Broker | Limited Asset Variety |
| Low Minimum Deposit | No Islamic Accounts |
| Wide Range of Tradable Instruments | No Scalping or Hedging Allowed |
Our Findings
Our findings on Plus500 indicate that it is a user-friendly trading platform with several attractive features for both beginners and experienced traders.
8. FXTM
ForexTime, also known as FXTM, is a financial service and automated currency broker. FXTM customers can use their accounts to trade currencies, CFDs, shares, and commodities. In total, there are more than 250 different financial instruments to access through FXTM.
Min Deposit
USD 200
Regulators
FCA, FSC, FSCA
Trading Platform
MT4, MT5, FXTM Trader
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
You can choose between six different types of FXTM trading accounts. Three of these are Standard Accounts, and three are Electronic Communications Network (ECN) Accounts.
Features
| 🔎Broker | 🥇FXTM |
| Company Information | |
| 🏢 Year Founded | 2011 |
| 👤 Current CEO | Nicholas Defteras |
| 🏗️ Founder/s | Andrey Dashin |
| 👥 Amount of staff | Over 800 globally |
| 👩💻 Amount of active traders | Over 2 million worldwide |
| 🌐 Publicly Traded (Listed Company) | No |
| 🌍 Global Offices | Cyprus, UK, South Africa, Mauritius |
| Regulation and Security | |
| 🛡️ Regulation | FCA (UK), CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius) |
| 🌎 Country of regulation | UK, Cyprus, South Africa, Mauritius |
| 🔒 Account Segregation | Yes |
| ⚖️ Negative balance protection | Yes |
| 🔑 Two-step Authentication | Yes |
| 🛡️ Investor Protection Schemes | ICF (Cyprus), FSCS (UK) |
| Account Types and Features | |
| 💼 Institutional Accounts | No |
| 🧑🤝🧑 Managed Accounts | Yes (PAMM Accounts) |
| 💱 Minor account currencies | EUR, GBP, USD, ZAR, NGN |
| 💵 Minimum Deposit | USD 200 / 3631 ZAR |
| 🕌 Islamic account (swap-free) | Yes |
| 🎓 Demo Account | Yes |
| Trading Conditions | |
| ⏲️ Average deposit/withdrawal processing time | Within 24 hours |
| 💸 Fund Withdrawal Fee | No fee for most methods |
| 📉 Spreads from | 0.1 pips (ECN Account) |
| 💼 Commissions | From $4 per lot (on ECN Account) |
| 🔄 Number of base currencies supported | 5 |
| 💱 Swap Fees | Yes, but swap-free accounts available |
| 💪 Leverage | Up to 1:2000 (varies by account type) |
| 📊 Margin requirements | Varies by asset and leverage |
| ⚡ Order Execution Time | 0.1 second |
| 🖥️ VPS Hosting | Available for free on deposit |
| 🔄 One-Click Trading | Yes |
| Trading Instruments | |
| 📊 CFDs-Total Offered | 250+ |
| 📈 CFD Stock Indices | 11 |
| 💹 CFD Commodities | 3 |
| 📉 CFD Shares | 180+ |
| 📈 Trading Stocks with GP | Yes |
| 📈 Trading Indices with GP | Yes |
| 💼 Swap on the trading board | Yes |
| 📝 Watch list | Yes |
| 📢 Trade Alerts | Yes |
| Deposits and Withdrawals | |
| 💳 Deposit Options | Bank transfer, credit/debit cards, e-wallets (Skrill, Neteller, etc.) |
| 💸 Withdrawal Options | Same as deposit methods |
| 🎁 Welcome Bonus | Available (up to 30% bonus for new accounts) |
| Trading Platforms/Tools | |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| ⚠️ Stop-loss Instrument | Yes |
| 💻 OS Compatibility | Windows, macOS, Android, iOS |
| ⚙️ Forex trading tools | Yes (Economic calendar, calculators, etc.) |
| 🤖 Expert Advisors | Yes |
| Customer Support | |
| 💬 Live chat availability | Yes |
| 📧 Customer Support Email address | support@fxtm.com |
| 📞 Customer Support Contact Number | +44 203 734 1035 |
| 🌐 Languages supported on FXTM Website | 15+ including English, French, Spanish, Arabic |
| Educational Resources and Support | |
| 🎓 Beginners Trader friendly UX | Yes |
| 📚 Forex course | Yes |
| 🎥 Webinars | Yes |
| 📖 Educational Resources | Yes (Videos, eBooks, articles) |
| Partnerships and Programs | |
| 🤝 Affiliate program? | Yes |
| 👥 Amount of partners | 1,000+ |
| 👥 IB Program | Yes |
| 🏎️ Do they sponsor any notable events or teams? | Yes, former F1 partnerships |
| 💸 Rebate program | Yes |
| 🌐 Community Forum | Yes |
| Social Media | |
| 🌍 Official Website address | Yes |
| 📘 Official Facebook Page | Yes |
| 🐦 Official Twitter Page | Yes |
| 📺 Official Youtube Channel | Yes |
| 💼 Official Linkedin Page | Yes |
| 📷 Official Instagram Page | Yes |
| South African Traders | |
| 🇿🇦 Accept South Africa Traders? | Yes |
| 🇿🇦 Is FXTM regulated by the South Africa regulatory body (FSCA)? | Yes |
| 🇿🇦 Does FXTM offer an Affiliate Program for South African Traders? | Yes |
| 🇿🇦 Does FXTM allow accounts to be opened in ZAR / Rands? | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Commission-free trading offered | No Support for MT4/MT5 |
| Low minimum deposit | Lacks advanced research and analysis tools compared to competitors |
| A variety of account types offered | Average Spread on Standard Accounts |
| A variety of financial instruments offered | Customer Support Delays |
| Risk Management Tools | Limited Cryptocurrency Offering |
Our Findings
FXTM offers a variety of account types, including ECN, and is highly regarded for its educational tools and market insights, making it a solid option for traders in Ghana.
9. Tickmill
Tickmill is one of the best forex brokers in the market owing to its great trading conditions that come with low spreads, fast execution, and no requotes.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA
Trading Platform
MT4, MT5, Tickmill Trader
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Tickmill is well regulated by top-tier authorities such as the FCA in the UK, CySEC in Cyprus, and FSCA in South Africa, making it safe for all retail and institutional traders.
Another selling point to Tickmill is their ability to offer very cheap trading, where their ECN accounts have spreads of 0.0 pips and very low commissions, a benefit to economy traders.
Features
| 🔎Broker | 🥇Tickmill |
| Company Information | |
| 📅Year Founded | 2014 |
| 👨Current CEO | Duncan Anderson |
| 🧑🤝🧑Founder/s | Not publicly available |
| 🧑🏻💻Amount of staff | 441 |
| 👩💻Amount of active traders | Over 400 000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSA, FCA, CySEC, FSCA |
| 🌎Country of regulation | Seychelles, UK, Cyprus, South Africa |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| ⛗Two-step Authentication | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Plus account and Raw account |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Yes |
| 📇Minor account currencies | USD, EUR, GBP, ZAR |
| 💰Minimum Deposit | USD 100 / 1812 ZAR |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Instant to 1 business day |
| 🪙Fund Withdrawal Fee | Free, but may vary based on payment method and account type |
| 📊Spreads from | 0.0 pips |
| 💸Commissions | Varies by account type, often commission-free, $2 per side per lot (Pro Account) |
| 💱Number of base currencies supported | 4 (EUR, USD, GBP, PLN) |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes, for an additional fee |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 725 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| 👁️🗨 Watchlist | Yes |
| 🔔 Trade Alerts | Yes |
| 💼 Trading Stocks with GP | Yes |
| 📉 Trading Indices with GP | Yes |
| 💹 Swap on Trading Board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT) |
| 💵Withdrawal Options | Credit/Debit Cards, Skrill, Neteller, FasaPay UnionPay, Bank Wire Transfer, Cryptocurrencies (BTC, ETH, USDT) |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), MetaTrader WebTrader, MetaTrader for Mac, Tickmill Mobile App |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/5 |
| 📱Customer Support email address | support@tickmill.com |
| 📞Customer Support Contact Number | South Africa: +278 7250 0696 International: +852 5808 7849 |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | 17 Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 9000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Low Spreads | Limited Educational Resources |
| Fast Execution Speeds | Inactivity Fees |
| Multiple Account Types | Limited Asset Variety |
| Islamic (Swap-Free) Accounts Available | No Proprietary Trading Platform |
| Strong Customer Support | Withdrawal Fees |
Our Findings
With low minimum deposits and tight spreads, Tickmill is a good option for both beginner and experienced traders.
10. Octa
Many traders are drawn to Octa because of its low spreads, high leverage (up to 1:500), and commission-free trading. The broker even provides Islamic accounts without swaps for traders who observe the Law of Sharia.
Min Deposit
USD 25
Regulators
CySEC, MISA, FSCA and FSC
Trading Platform
MT4, MT5, OctaTrader
Crypto
Yes
Total Pairs
52
Islamic Account
Yes
Trading Fees
No
Account Activation
24 Hours
There are also educational materials in the form of webinars and market analysis, therefore Octa is well suited for both novice and experienced traders who need a conducive trading environment.
On the downside, some traders may be discouraged by the limited regions covered by this broker and some countries where there is no regulation of its activities.
Features
| Company Information | |
| 📅Year Founded | 2011 |
| Current CEO | Darrell E. Johnson |
| Founder/s | Georgios D. Pantzis |
| 🧑🏻💻Amount of staff | 694 |
| 👩💻Amount of active traders | Over 1,000,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, MWALI, FSCA |
| 🌎Country of regulation | Cyprus, Union of the Comoros, South Africa |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| Two-step Authentication | Yes |
| Stop-loss Instrument | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | OctaTrader Account, MT4, MT5 |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | USD, EUR |
| 💰Minimum Deposit | $25 / R447 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | No |
| 📊Spreads from | 0.6 pips |
| 💸Commissions | None |
| 💱Number of base currencies supported | 2 (USD, EUR) |
| 🚀Swap Fees | Yes |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | margin requirement of 50% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | In seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 277 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Trading Indices with GP | Yes |
| Trading Stocks with GP | Yes |
| Swap on trading board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | credit cards, debit cards, bank transfers, e-wallets (like Skrill, Neteller), and cryptocurrency |
| 💵Withdrawal Options | The same as deposit options |
| Trading Platforms and Tools | |
| 💻Trading Platforms | OctaTrader, MetaTrader 4, MetaTrader 5 |
| 👩💻OS Compatibility | Web, Mobile (iOS and Android) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes, available 24/7 |
| 📱Customer Support email address | support@octafx.com |
| 📞Customer Support Contact Number | N/A |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | English, Arabic, Chinese, Indonesian, Malay, Thai, and Vietnamese |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 4,600 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| Commission Fee | None on most accounts |
| Social Platforms | |
| Official Facebook Page | Yes |
| Official Twitter Page | yes |
| Official Youtube Channel | yes |
| Official Linkedin Page | yes |
| Official Instagram Page | yes |
| Official Website address | yes |
| South African Trader Specific Information | |
| Does Octa Accept South African Traders? | Yes |
| Is Octa regulated by the South African regulatory body (FSCA)? | Yes |
| Does Octa offer an Affiliate Program for South African Traders? | Yes |
| Does Octa allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 👉Open Account | Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Wide Range of Trading Instruments | Lacks in-depth market analysis features |
| Multiple Trading Platforms | Spreads can be higher compared to some competitors |
| Well-Regulated | Inactivity Fees |
| Islamic (Swap-Free) Accounts Available | Customer Support Issues |
| Provides tutorials and market analysis for traders | Limited Advanced Tools |
Our Findings
OctaFX provides competitive spreads and the option for Islamic accounts alongside robust educational materials.
Conclusion
Forex brokers in Ghana have a variety of options for traders whether new or experienced. Top brokers, Exness, AvaTrade, HFM, and FXTM offer low minimum deposits, high leverage, and solid platforms such as MT4 and MT5.
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Frequently Asked Questions
Who is the financial regulator in Ghana?
The Bank of Ghana is the country’s financial and supervisory regulatory authority.
Which forex brokers are the best in Ghana?
The brokers provided on this list are some of the most reputable and well-regulated forex brokers in Ghana.
Who is the most popular forex broker in Ghana?
AvaTrade proved to be a very popular forex broker in Ghana due its being an award-winning, well-regulated broker that offers competitive trading conditions, fast trading execution, and availability on social trading platforms.
Do forex brokers in Ghana offer demo accounts for beginner traders?
Yes. Most of the brokers in Ghana offer traders the option of registering a demo account.
Is forex trading legal in Ghana?
Individuals considering engaging in Forex trading within Ghana’s borders do so in a space that is unregulated but not expressly forbidden.
Is Forex Trading taxable in Ghana?
Yes, normal income tax applies.
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