The forex market is the largest financial market in the world, with new traders joining every day. More popular and reputable brokers are the 5 Best Forex Brokers in Madagascar and welcome traders from around the world to register a trading account. Traders based in Madagascar may find the forex market intimidating and may not know what to look for when choosing a forex broker. However, the list below will provide traders with a valuable insight into the trading conditions, amidst other services, that they can expect from brokers that welcome Malagasy forex traders.
In this in-depth write-up you will learn:
- The 5 Best Forex Brokers in Madagascar.
- Overview of Forex Trading in Madagascar.
- A List of Stock Brokers in Madagascar.
- The Best Forex Trading App in Madagascar.
- How to Become one of the most Successful Forex Traders in Madagascar.
and much, MUCH more.
5 Best Forex Brokers in Madagascar in 2025
| 🔎 Brokers | 🚀Open an Account | 🤝 Accepts Madagascar traders | 💶 Min. Deposit (LYD) |
| 🥇 FP Markets | Open Account | Yes | $100 (approximately 471000 MGA) |
| 🥈 Exness | Open Account | Yes | $10 (approximately 4710 MGA) |
| 🥉AvaTrade | Open Account | Yes | $100 for Cent, Zero, and Premium accounts; $100 for Pro account (approximately 471000 MGA) |
| 🏅Tickmill | Open Account | Yes | $100 (approximately 471000 MGA) |
| 🎖️Pepperstone | Open Account | Yes | $0 (approximately 0MGA) |
Madagascar Malagasy Ariary (MGA) – Defenition
The national currency of Madagascar operates under the name Malagasy Ariary (MGA) which was launched in 2005 as a replacement for the Malagasy Franc (MGF). The Ariary belongs to a rare group of currencies because its basic unit differs from decimals since each Ariary matches five Iraimbilanja. Both coins and banknotes of the Ariary currency emerge from the Central Bank of Madagascar (Banque Centrale de Madagascar). Since local earnings mostly consist of Ariary transactions domestic residents use while professional currency traders engage with foreign exchange in combination with USD and EUR and additional international currency types.
5 Best Forex Brokers in Madagascar (2025)
- ☑️ FP Markets – Best Overall Offering.
- ☑️ Exness – Low Minimum MGA Deposit.
- ☑️ AvaTrade – Known for User-friendly trading.
- ☑️ Tickmill – Provides tight spreads.
- ☑️ Pepperstone – Malagasy Ariary (MGA)
FP Markets
The global forex and CFD broker FP Markets provides Madagascar traders with a safe and competitive trading platform. ASIC and CySEC introduce regulation to ensure transparency at FP Markets as this broker offers traders a $100 (~450,000 MGA) deposit minimum and 0.0 pip raw spreads and up to 1:500 leverage suitable for scalpers and day traders. Through their platform integration of MetaTrader 4, MetaTrader 5, cTrader, and IRESS, traders gain access to trade Forex together with Stocks, Indices, Commodities, Metals, and Cryptocurrencies. Deposits and withdrawals at FP Markets can be processed using bank transfers together with credit cards, Skrill and Neteller e-wallets, and cryptocurrencies but M-Pesa and mobile money transactions are unavailable. FP Markets provides robust educational content to their clients while supporting French speakers 24 hours per day and operates through fast order execution speeds. FP Markets does not operate locally within Madagascar while it imposes an inactivity fee to traders who stay dormant for more than twelve months. Madagascar traders will benefit from FP Markets because it offers low spreads and ECN trading coupled with advanced platforms.
Features
| Company Information | |
| 📅Year Founded | 2005 |
| 🧑🏻💻Amount of staff | 274 |
| 👩💻Amount of active traders | Over 200,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | ASIC, CySEC, FSCA, FSA, FSC, CMA |
| 🌎Country of regulation | Australia, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes |
| Account Types and Features | |
| ➕Accounts | Standard, Raw ECN, and VIP accounts available |
| 💳Institutional Accounts | Yes, tailored solutions for institutional clients |
| 👨💼Managed Accounts | Yes, offered through third-party managed account services |
| 📇Minor account currencies | USD, EUR, GBP, AUD, JPY, and others |
| 💰Minimum Deposit | $100 / ~450,000 MGA |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | Deposits are typically processed instantly; withdrawals usually within 1-2 business days |
| 🪙Fund Withdrawal Fee | Generally no fees for withdrawals; may vary based on method |
| 📊Spreads from | Spreads start from 0.0 pips on Raw ECN accounts |
| 💸Commissions | From $3.5 per side per lot on Raw ECN accounts |
| 💱Number of base currencies supported | Over 10 base currencies including USD, EUR, GBP, AUD, JPY, and others |
| 🚀Swap Fees | Swap fees apply; may vary depending on the position and account type |
| 📈Leverage | Up to 1:500 depending on the account type and instrument |
| 📏Margin requirements | typically 0.2% - 1% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically 40-50 milliseconds on Raw ECN accounts |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1,000 CFDs across various asset classes |
| 🗠CFD Stock Indices | Yes,Major global indices including S&P 500, NASDAQ, FTSE 100, DAX, and more |
| ⚖️CFD Commodities | Yes, Includes commodities such as Gold, Silver, Oil, Natural Gas, and more |
| 📜CFD Shares | Yes, A wide range of global stocks from major markets including US, UK, EU, and Asia |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit Cards, Bank Transfers, PayPal, Skrill, Neteller, and other e-wallets |
| 💵Withdrawal Options | Bank Transfers, Credit/Debit Cards, PayPal, Skrill, Neteller, and other e-wallets |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS, cTrader, WebTrader and TradingView |
| 👩💻OS Compatibility | Windows, Mac (via emulation), Android, iOS |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes, available 24/7 |
| 📱Customer Support email address | support@fpmarkets.com |
| 📞Customer Support Contact Number | +61 2 8252 6800 (Australia) or +44 20 8068 0760 (UK) |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | English, Chinese, Arabic, and other major languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 100,000 affiliates |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | Open Account |
Min Deposit
USD 100
Regulators
ASIC, CySEC, FSCA, CMA
Trading Platform
MT4, MT5, Iress Trader, cTrader
Crypto
Yes
Total Pairs
70+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Asset Classes
| 📜CFD Type | ⚖️Example Instrument | 📊Tight Spreads | ♒Average Spreads | 〰️Wide Spreads |
| 💱Forex | EUR/USD | 0.0 pips (Raw) | 0.8 pips | 1.2+ pips |
| ➡️Indices | S&P 500 | 0.3 points | 0.6 points | 1.0+ points |
| 📜Stocks | Apple (AAPL) | 0.02 USD | 0.05 USD | 0.10+ USD |
| 🛢️Commodities | Gold (XAU/USD) | 0.1 pips | 0.2 pips | 0.5+ pips |
| 💰Cryptocurrencies | Bitcoin (BTC/USD) | 12.0 pips | 25.0 pips | 40.0+ pips |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great Educational tools | Limited portfolio |
| Great Customer Service | Web Platform needs to be updated a bit |
| Large Product offering | High fee for international bank withdrawal |
Our Findings
The regulated forex broker FP Markets provides ECN trading features and spreads at low levels along with trading leverage up to 1:500. The platform enables users to trade through MT4 and MT5 and cTrader whereas it does not provide M-Pesa withdrawals.
Can traders in Madagascar open an FP Markets account?
Yes, FP Markets accepts traders from Madagascar, allowing them to trade forex, stocks, indices, commodities, and cryptocurrencies.
What is the minimum deposit for FP Markets in Madagascar?
The minimum deposit is $100 (~450,000 MGA) for a Standard or Raw account.
Exness
Features
| 🔎Broker | Exness |
| 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 | $10/47100 MGA |
| 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, Instagram |
| 🗣️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 |
| 👉Open Account | Open Account |
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Platform
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
Asset Classes
| 📊Asset Class | 📈Spread Type | ⚖️Typical Spread | 🔎Raw Spread Commission |
| 💱Forex (EUR/ZAR) | Standard/Raw Spread | Variable (from 0.9 pips) | N/A |
| ➡️CFD Indices (S&P 500) | Standard/Raw Spread | Variable (from 1.0 pip) | N/A |
| 📜CFD Stocks (Apple) | Variable (from 0.03 USD) | N/A | |
| 🪙CFD Commodities (Gold) | Variable (from $3.2) | N/A | |
| 💵CFD Cryptocurrencies (Bitcoin) | Variable (from 25 USD) | Commission-based |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Highly Regulated | Limited Local Support |
| Competitive Trading Conditions | High Leverage Risks |
| Low Minimum Deposit | Complex Fee Structure |
| Variety of Trading Instruments | Withdrawal Fees |
| Educational Resources | Platform Limitations |
| Local Currency Accounts | Customer Service Variability |
| Demo Accounts | Regional Variations in Service |
| VPS Hosting Available | Potential Over-Reliance on Automation |
Our Findings
The registered forex broker Exness delivers its clients access to multiple features including regulated services and low spreads in addition to high leverage possibilities and immediate cashout functionality. The platform supports trading systems including MT4 and MT5 which it utilizes through mobile applications to give traders in Madagascar a leading platform option.
Does Exness support mobile money in Madagascar?
Yes, Exness allows mobile money deposits and withdrawals, including M-Pesa, e-wallets, and bank transfers, ensuring fast transactions.
What leverage does Exness offer in Madagascar?
Exness provides high leverage up to 1:2000+, allowing traders to maximize their positions.
AvaTrade
Features
| Company Information | |
| 📅Year Founded | 2006 |
| 🧑🏻💻Amount of staff | 614 |
| 👩💻Amount of active traders | 300,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CBI, BVI FSC, ASIC, FSCA, ADGM, FRSA, ISA |
| 🌎Country of regulation | Ireland, Australia, Japan, South Africa, Abu Dhabi, British Virgin Islands, European Union, Polish Branch. |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | Yes, Up to €20,000 under CySEC Investor Compensation Fund (ICF) (for EU clients) | * Up to AUD$250,000 under ASIC Client Money Protection Scheme (CMPS) (for Australian clients) | |
| Account Types and Features | |
| ➕Accounts | Standard Account, Retail Islamic account, Professional account |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | AvaTrade offers copy trading (AvaSocial) but doesn't directly manage accounts. |
| 📇Minor account currencies | AUD, JPY, GBP, USD, EUR, CHF |
| 💰Minimum Deposit | $100 USD/~450,000 MGA |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | Free up to a certain amount |
| 📊Spreads from | 0.7 pips |
| 💸Commissions | No |
| 💱Number of base currencies supported | Over 50 |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 400:1 |
| 📏Margin requirements | 0.50% |
| ☪️Islamic account (swap-free) | Yes, available upon request |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Typically within milliseconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1,250+ |
| 🗠CFD Stock Indices | Major global indices (e.g., US 30, FTSE 100, DAX 30) |
| ⚖️CFD Commodities | Precious metals (gold, silver), Energy (oil, gas), Agricultural (wheat, corn) |
| 📜CFD Shares | Thousands of shares from various global exchanges (US, Europe, Asia) |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets. |
| 💵Withdrawal Options | Must be sent via the same payment method used for deposit |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4) * MetaTrader 5 (MT5) * AvaTrade WebTrader * AvaTrade Mobile App * AvaOptions (for options trading) * DupliTrade & ZuluTrade (for copy trading) |
| 👩💻OS Compatibility | Windows, macOS, Web, Mobile (Android, iOS) |
| 🖥️Forex trading tools | Yes |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/7 |
| 📱Customer Support email address | Online email on website |
| 📞Customer Support Contact Number | +447520644093 |
| 👾Social media Platforms | Facebook, Twitter, Instagram |
| 🗣️Languages supported on Website | Over 14 languages, including English, Spanish, French, German, Italian, Arabic, Russian, Portuguese |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 70 000 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes |
| 🪙Rebate program | Yes |
| 👉Open Account | Open Account |
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
Asset Classes
| 📜CFD Type | ⚖️Example Instrument | 📊Tight Spreads | ♒Average Spreads | 〰️Wide Spreads |
| 💱Forex | EUR/USD | 0.7 pips | N/A | N/A |
| ➡️Indices | US 30 (Dow Jones) | 3.0 points | 4.0 points | N/A |
| 🪙Commodities | Gold (XAU/USD) | $0.80 | N/A | N/A |
| 📜Stock | Apple (AAPL.US) | 0.02% | 0.05% | Above 0.10% |
| 💵Cryptocurrency | Bitcoin (BTC) | 0.50% | 1.00% | Above 2.00% |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide range of CFDs assets to trade - 1000+ | You can’t buy stock or cryptocurrency |
| Worldwide regulated | Cryptocurrency deposit is not accepted |
| Award winner | Quarterly and annual inactivity fees |
| Multiple platform – MT4, MT5, etc | Costumer support is not available 24/7 |
| Negative balance protection | No bonus for EU based clients |
Our findings
AvaTrade functions as a regulated broker that provides fixed spreads alongside up to 1:400 trading margins and operates through MT4, MT5, and AvaTradeGO platforms. The trading benefits for Madagascar investors at this broker are exceptional yet they do not offer immediate withdrawal capabilities or mobile money solutions.
Is AvaTrade a safe broker for traders in Madagascar?
Yes, AvaTrade is regulated by multiple authorities, including FSCA (South Africa), ASIC (Australia), and CySEC (Europe), ensuring a secure trading environment.
Does AvaTrade charge withdrawal fees?
No, AvaTrade does not charge withdrawal fees, but banks and payment providers may apply their charges.
Tickmill
Tickmill operates as a regulated forex broker that provides forex traders with spreads starting at 0.0 pips along with maximum leverage set to 1:500 alongside quick order execution. The broker provides access to MT4 and MT5 platforms yet fails to include mobile money payment methods which Exness offers. Scalpers together with day traders along professional traders from Madagascar find Tickmill most appropriate because it provides top-notch tight spreads and minimal commissions. A beginner who wants to trade at Tickmill may face challenges due to its restricted payment options and a high minimum deposit of $100 equivalent to 450,000 MGA.
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 / ~450,000 MGA |
| 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 |
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
Asset Classes
| 📜CFD Type | ⚖️Example Instrument | 📊Tight Spreads | ♒Average Spreads | 〰️Wide Spreads |
| 💱Forex | EUR/USD | 0.0 pips | 0.1 pips | 0.4 pips |
| ➡️IndicesIndices | UK100 | 0.8 points | 1.0 points | 1.5 points |
| 🪙Commodities | XAU/USD (Gold) | 0.1 pips | 0.2 pips | 0.4 pips |
| 💵Cryptocurrency | BTC/USD | 25.0 points | 30.0 points | 40.0 points |
| 📜Stock | AAPL | 0.4 pips | 0.6 pips | 1.0 pips |
| 💡Bonds | DE10Y (German Bund) | 0.0 pips | 0.2 pips | 0.5 pips |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Advanced trading platforms such as MetaTrader 4 and 5 are available to South Africans | Tickmill provides a limited set of research tools and market analysis |
| South Africans can take part in frequent promotions and competitions, including a $30 no-deposit bonus | South Africans may find educational options that are less targeted to local market needs |
| Tickmill provides risk management solutions to help traders manage their trading risks effectively | Promotional offers and bonuses may be less appealing to South Africans compared to some local competitors |
Our Findings
As a regulated broker, Tickmill provides trading conditions that include minimum spreads starting from zero pips as well as trading leverage up to 1:500 together with MT4/MT5 platforms. The system benefits scalpers and professionals yet it does not support mobile money transactions which makes Exness the better choice for businessmen in Madagascar.
Are Tickmill’s spreads competitive?
Yes, Tickmill offers spreads from 0.0 pips on Raw accounts and low commissions for professional traders.
Does Tickmill charge withdrawal fees?
Tickmill offers free withdrawals, but banks or payment providers may apply their fees.
Pepperstone
Pepperstone operates as a globally regulated broker that provides clients money-saving 0.0 pips spreads in addition to maximal leverages at 1:500 along with hyper-fast ECN execution. The platform operates MT4, MT5, and cTrader extracts which makes it suitable for advanced traders and scalping operations. The mobile payment systems M-Pesa and Airtel Money are not accessible for traders in Madagascar when making deposits. Pepperstone stands as a reliable choice for professional traders since it operates under strict regulations (ASIC, FCA, CySEC) and does not manipulate trades through its dealing desk structure.
Features
| Company Information | |
| 📅Year Founded | 2010 |
| 🧑🏻💻Amount of staff | Over 500 |
| 👩💻Amount of active traders | Over 200,000 |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FCA (UK), ASIC (Australia) |
| 🌎Country of regulation | UK, Australia |
| 💻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 | 8 |
| 💰Minimum Deposit | $0 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1-3 business days |
| 🪙Fund Withdrawal Fee | No |
| 📊Spreads from | 0.0 pips |
| 💸Commissions | Variable, based on account type and trading volume |
| 💱Number of base currencies supported | 7 |
| 🚀Swap Fees | Applicable |
| 📈Leverage | Up to 500:1 |
| 📏Margin requirements | Variable based on asset and leverage |
| ☪️Islamic account (swap-free) | Yes, |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 30-60 milliseconds |
| 📆VPS Hosting | Yes, for clients who meet the criteria |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1200 |
| 🗠CFD Stock Indices | Yes |
| ⚖️CFD Commodities | Yes |
| 📜CFD Shares | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| 💵Withdrawal Options | Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| 👩💻OS Compatibility | Windows, macOS, iOS, Android |
| 🖥️Forex trading tools | TradingView, Autochartist, Myfxbook |
| Customer Support | |
| 🗣️Live chat availability | Yes 24/5 |
| 📱Customer Support email address | support@pepperstone.com |
| 📞Customer Support Contact Number | +44 (0) 203 695 5811 |
| 👾Social media Platforms | Facebook, Twitter, LinkedIn, |
| 🗣️Languages supported on Website | English, Chinese, Arabic, German, Spanish, Portuguese, Italian |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Trading guides, eBooks, 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 |
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
Asset Classes
| 📜CFD Type | ⚖️Example Instrument | 📊Tight Spreads | ♒Average Spreads | 〰️Wide Spreads |
| 💱Forex | EUR/USD, GBP/USD | 0.0 pips | 0.6 pips | 1.2 pips |
| ➡️Indices | S&P 500, NASDAQ | 0.4 points | 1.0 points | 1.5 points |
| 🪙Commodities | Gold, Oil | 0.03 | 0.10 | 0.20 |
| 💰Cryptocurrencies | Bitcoin, Ethereum | 0.01% | 0.10% | 0.20% |
| 📜Stocks | Tesla, Apple | 0.1 pips | 0.3 pips | 0.5 pips |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Competitive Spreads | Limited Asset Selection |
| Multiple Trading Platforms | Higher Minimum Deposit for Raw Account |
| Fast Order Execution | Commissions on Raw Account |
| South African Support | Educational more towards a global audience |
Our Findings
The trading platform from Pepperstone provides clients with spreads beginning at 0.0 pips and executable orders through ECN networks and allows leverage up to 1:500. Exness provides convenience to Madagascaran traders as it operates with MT4, MT5, and cTrader platforms yet does not offer mobile money transaction options.
Does Pepperstone support mobile money in Madagascar?
No, mobile money (M-Pesa, Airtel Money) is not available, but bank transfers, credit/debit cards, Skrill, and Neteller are supported.
Is Pepperstone available for traders in Madagascar?
Yes, Pepperstone accepts traders from Madagascar, offering Forex, Indices, Commodities, Cryptos, and Stocks.
Conclusion
The best selection of forex brokers for Madagascar traders includes platforms that offer tight spreads coupled with high-leverage reliable platforms and convenient payment methods. The most accessible option belongs to Exness since it allows instant withdrawals and processing through mobile money. AvaTrade and Tickmill operate with competitive conditions but they do not support local deposit methods. Pepperstone and FP Markets offer low spreads and fast execution, ideal for scalpers and professionals. An investor’s selection of their broker depends on their trading needs along with their preferred trading platform and simple options for funding the account.
Frequently Asked Questions
Is forex trading allowed and safe in Madagascar?
Yes, forex trading is allowed and very popular in Madagascar; however it is recommended that traders make use of a safe, well-regulated forex broker in Madagascar to open a trading account.
Can Muslim traders in Madagascar open forex trading accounts?
Yes, Muslim traders in Madagascar are allowed to open a trading account with forex brokers in Madagascar who offer Islamic swap-free accounts.
Will I have to pay tax on forex profits in Madagascar?
Yes, any profits earned from forex trading are taxable in Madagascar.
Is forex trading legal in Madagascar?
Yes. However, there is no regulatory framework in place to oversee forex brokers.
Do forex brokers in Madagascar offer demo accounts?
Yes. Most of the brokers in Madagascar in this article offer the option of a demo account.
Top 4 Brokers
