This Best Forex Brokers in Sao Tome & Principe review conducted in South Africa shows that Sao Tome and Principe is a central African country located on the Equator in the Gulf of Guinea. With the influx of traders to the forex market, numerous traders have been welcomed by numerous brokers that now accept more traders form developing countries.
Even though countries such as Sao Tome and Principe do not have their own watchdog that has a regulatory framework for forex trading in place, there are numerous brokers that offer traders global access to financial markets.
The list below will provide traders with more insight into what they can expect when dealing with some of the best forex traders in the industry that accept African traders.
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Tickmill
Overview
Tickmill is a popular and reputable broker that offers traders from around the world with comprehensive trading services, competitive conditions, and a variety of trading tools which can be used by traders to refine and hone their trading skills in competitive and volatile markets.
Pros and Cons
| PROS | CONS |
| Strictly regulated by multiple regulatory entities | US Clients not allowed |
| Commission-free trading offered | Fixed spreads not offered |
| Variety of trading tools offered | Cryptocurrency trading not supported |
| Variety of financial instruments | |
| Powerful trading platforms supported |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | From $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
XM
Overview
XM was established in 2009 and with more than 2.5 million registered traders from 196 countries, it is one of few brokers that truly has global coverage. XM offers traders with a variety of dynamic accounts which can be used to trade in a range of markets, with trades executed through powerful and flexible trading platforms.
Pros and Cons
| PROS | CONS |
| Strict regulation through FCA | US clients not accepted |
| Negative balance protection | No fixed spread accounts offered |
| Competitive trading conditions | |
| Variety of account types offered |
Features
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:888 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Olymp Trade
Overview
Established in 2014, Olymp Trade is a regulated broker that offers traders from around the world with comprehensive trading services and dynamic solutions, catering for traders despite their trading needs, objectives, or varying trading styles.
Pros and Cons
| PROS | CONS |
| Low minimum deposit requirement | No MetaTrader |
| Market news as well as analysis | No regulation |
| Multilingual customer support available 24/7 | Social trading not offered |
| Proprietary trading platform | Trade automation not supported by trading platform |
| Training resources offered | US and UK clients not accepted |
Features
| Feature | Information |
| Regulation | None |
| Minimum deposit from | $10 |
| Average spread from | None charged |
| Commissions from | 0.00400% |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/7 |
eToro
Overview
eToro is a reputable broker in addition to being the leading online trading platform in the industry. When trading with eToro, traders can expect competitive trading conditions, use of eToro’s powerful proprietary trading platform, and ample social trading opportunities.
Pros and Cons
| PROS | CONS |
| Well-regulated | No US Clients |
| Commission-free trading offered | Fixed spread accounts not provided |
| Large online trading community | MetaTrader 4 and 5 not offered |
| Leading social trading platform |
Features
| Feature | Information |
| Regulation | ASIC, FCA, CySEC |
| Minimum deposit from | $200 |
| Average spread from | 3 pips on EUR/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/6 |
FBS
Overview
FBS is a well-regulated broker that offers traders with ultra-low minimum deposits which start from $1, competitive, and variable spreads from 0.0 pips, and a variety of social trading opportunities.
In addition, traders have an array of accounts that they can choose from, each featuring its own competitive trading conditions and features.
Pros and Cons
| PROS | CONS |
| Well-regulated | Several countries restricted including US, UK, Japan, Israel, and others |
| Ultra-low minimum deposit requirement | Limited tradable assets |
| Social trading supported | High spreads on some accounts |
| Multiple account types offered | Limited trading platform and tools offered |
| Competitive trading conditions |
Features
| Feature | Information |
| Regulation | IFSC, CySEC |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | $6 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:3000 |
| Bonuses | Yes |
| Customer Support | 24/7 |
OctaFX
Overview
OctaFX has been in operation since 2011 and since its inception until now, Octa has built a reputation for itself as a reliable ECN and STP broker facilitating the trade in several CFD and forex instruments.
Traders are provided with dynamic fixed spread accounts, negative balance protection which is applied on retail accounts, and the option for commission-free trading as well as the use of hedging and scalping in trades.
Pros and Cons
| PROS | CONS |
| Well-regulated | No US Clients |
| Commission-free trading offered | Limited financial instruments |
| Fixed spread accounts offered | |
| Negative balance protection | |
| Hedging and Scalping allowed |
Features
| Feature | Information |
| Regulation | FSA SVG, CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | $0.02 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
HYCM
Overview
HYCM has been offering comprehensive trading services since 1977 and is a reputable, trusted broker that has a rich history in catering for beginners from around the world despite their trading knowledge, skill, or experience.
With HYCM, traders can expect a range of tradable financial instruments and the use of either MetaTrader 4 or 5 through which trades can be executed seamless. Traders are also reassured of the best trading conditions possible and the most reliable execution speeds.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients not allowed |
| Commission-free trading offered | Only two trading platforms offered |
| High speed trade execution | |
| Competitive trading conditions | |
| MetaTrader 4 and MetaTrader 5 supported |
Features
| Feature | Information |
| Regulation | CIMA, CySEC, DFSA, FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.2 pips |
| Commissions from | $4 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Trading 212
Overview
Based in the UK, Trading 212 is a fin-tech broker that offers the trade in more than 2,000 financial instruments through a powerful, flexible, and reliable proprietary trading platform. Traders are provided with comprehensive and competitive trading conditions, commission-free trading, and compensation with the FSCS if Trading 212 should fail to meet its financial obligations.
Pros and Cons
| PROS | CONS |
| Strict regulation | US clients not allowed |
| Member of FSCS | Limited leverage for non-professional traders |
| Commission-free trading | MetaTrader not offered |
| Intuitive and user-friendly trading platform | |
| Low minimum deposit |
Features
| Feature | Information |
| Regulation | FCA, FSC |
| Minimum deposit from | $1 |
| Average spread from | Not indicated |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:300 |
| Bonuses | None |
| Customer Support | 24/7 |
FP Markets
Overview
Established in 2005, FP Markets is a reputable and well-regulated STP, ECN, and DMA broker that offers traders from around the world the trade in more than 10,000 financial instruments. Traders are also provided with access to award-winning platforms, fast trade execution, and competitive pricing.
Pros and Cons
| PROS | CONS |
| Well-regulated by reputable entities | US clients not accepted |
| Range of tradable financial instruments | Fixed spreads not offered |
| Commission-free trading offered | |
| ECN-Pricing model |
Features
| Feature | Information |
| Regulation | ASIC, CySEC, SVGFSA |
| Minimum deposit from | AU$100 |
| Average spread from | 0.0 pips |
| Commissions from | US$3 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
BDSwiss
Overview
BDSwiss is a reputable broker that has more than 1 million registered traders from over 170 countries worldwide. BDSwiss offers traders the trade in more than 250 financial instruments, advanced trading tools, and commission-free accounts.
Pros and Cons
| PROS | CONS |
| More than 250 financial instruments | US Clients not allowed |
| Strict regulation | Fixed spreads not offered |
| Commission-free accounts offered | Restricted leverage for EU-clients |
| Advanced trading tools offered | |
| Competitive trading conditions |
Features
| Feature | Information |
| Regulation | CySEC, FSC, NFA |
| Minimum deposit from | $200 |
| Average spread from | 1.1 pips |
| Commissions from | $4 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
AvaTrade
Overview
AvaTrade is one of the most popular online trading brokers in the industry, despite the number of brokers that are offering their services. AvaTrade is a trusted, reliable, and multi-award-winning broker that offers access to global markets by providing access to more than 250 financial instruments which can be traded through a variety of trading platforms.
Pros and Cons
| PROS | CONS |
| Multi-regulated through reputable regulatory entities | No US clients |
| Award-winning broker | Variable spread accounts not offered |
| Fixed and tight spreads from 0.9 pips | Only one account type offered for retail and professional traders |
| Zero-commission trading | |
| Variety of trading platforms and social trading through ZuluTrade |
Features
| Feature | Information |
| Regulation | ASIC, BVI, CBI, FFAJ, FSA, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Exness
Overview
Exness was founded in 2008 and is a well-regulated and reputable broker which has strict regulation and authorisation through CySEC, FCA, and SFSA in facilitating the trade of a range of tradable financial instruments.
With Exness, traders are offered with competitive and tight spreads from 0.0 pips, low commissions from $3.5 and access to leverage up to 1:2000. Traders have ample trading opportunities with Exness, allowing them to reach their full potential in forex trading.
Pros and Cons
| PROS | CONS |
| High maximum leverage offered | Accounts are not multi-currency |
| Powerful trading platforms supported | US clients not allowed |
| Strictly regulated | |
| Variety of financial instruments |
Features
| Feature | Information |
| Regulation | CySEC, FCA, SFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | From $3.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | None |
| Customer Support | 24/5 |
FxPro
Overview
FxPro is a reputable NDD broker headquartered in the United Kingdom with strict regulation and authorisation through FCA, CySEC, FSCA, DFSA, and SCB in facilitating the trades of traders from around the world. Traders can trade a range of instruments through multiple modern trading platforms.
Pros and Cons
| PROS | CONS |
| Strict and multiple regulations | US, Iraq, and Canada clients not accepted |
| Multiple modern trading platforms | Managed accounts and social trading not supported |
| Premium trader tools | Crypto trading not supported |
| VPS access | Wide spreads |
| Expert analysis from Trading Central | High commissions |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSCA, DFSA, SCB |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | $4.5 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
HotForex
Overview
HotForex is a reputable broker with an international presence in jurisdictions across the globe. With regulation by CySEC, FCA, DFSA, FSCA, HotForex caters for traders despite their trading needs, objectives, styles, or level of trading experience.
HotForex offers traders with a secure trading environment in which they can trade a variety of financial instruments. Traders also have a choice in dynamic account types and access to an array of bonuses and promotions.
Pros and Cons
| PROS | CONS |
| Strictly and well-regulated | US Clients not allowed |
| Strong international presence | |
| Competitive trading conditions offered | |
| Vast variety of account types offered |
Features
| Feature | Information |
| Regulation | CySEC, FCA, DFSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
Alpari
Overview
Established in Russia in 1998, Alpari has growth to become a reputable and popular broker that now has offices in several jurisdictions across the globe. Traders can expect a range of markets in which they can trade, using Alpari’s competitive trading conditions and powerful trading platforms such as MetaTrader 4 and MetaTrader 5.
Pros and Cons
| PROS | CONS |
| Well-regulated | Restriction on traders from some countries |
| MetaTrader 4 and 5 offered | Limited financial instruments offered |
| PAMM Accounts offered | Fixed spread accounts not offered |
| Superior multilingual customer support |
Features
| Feature | Information |
| Regulation | FSC, FSA |
| Minimum deposit from | $5 |
| Average spread from | 0.4 pips |
| Commissions from | $1.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
IC Markets
Overview
IC Markets is headquartered in Australia and Seychelles, with strict regulation through the reputable ASIC in facilitating the trade of more than 230 financial instruments. When trading with IC Markets, traders are offered with various social trading opportunities, competitive trading conditions, and transparent fee schedules.
Pros and Cons
| PROS | CONS |
| Strictly regulated | US Clients not allowed |
| Low trading and non-trading fees | Fixed spreads not offered |
| Tight and competitive spreads | |
| Hedging and scalping allowed | |
| Social trading supported |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
Swiss Markets
Overview
Swiss Markets was established in 2016 and is a forex and CFD online trading broker that offers traders with a variety of financial instruments which can be traded through MetaTrader 4. Traders are also offered with reliable trade execution and competitive trading conditions.
Pros and Cons
| PROS | CONS |
| Regulated broker | US Clients not allowed |
| STP execution | Lack of education |
| MetaTrader offered | Market analysis not offered |
| Adequate account funding options | Restricted leverage |
| Prompt and dedicated customer care |
Features
| Feature | Information |
| Regulation | CySEC, FSC, NFA |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $5 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support | 24/5 |
FXTM
Overview
FXTM has been in operation for the past decade and is popular for its competitive, tailormade solutions that cater for both beginners and professional traders. Traders have access to a variety of tradable financial instruments, low minimum deposits on accounts, and access to a range of educational materials, advanced trading tools, and more.
Pros and Cons
| PROS | CONS |
| Strictly regulated by several entities | US clients not accepted |
| Range of tradable assets | Restricted leverage for EU-clients |
| Commission-free trading offered | |
| Low minimum deposit required | |
| Variety of accounts offered |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSC, FSCA |
| Minimum deposit from | $10 |
| Average spread from | 0.0 pips |
| Commissions from | $2 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FreshForex
Overview
FreshForex was established in 2004 and is a STP and ECN broker catering for traders from around the world. Even though FreshForex is not a popular choice due to not having regulation, the broker still offers comprehensive solutions and services along with competitive trading conditions.
Pros and Cons
| PROS | CONS |
| Fixed and variable spreads offered | Unregulated |
| Minimum deposit not required | North Korea, Spain, UK, and US clients not accepted |
| Daily analysis and trading signals offered | Spreads have mark-up |
| VPS access offered | Limited range of financial instruments |
| Flexible account types offered |
Features
| Feature | Information |
| Regulation | None |
| Minimum deposit from | $0 |
| Average spread from | 0.0 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
IG
Overview
IG has been in operation since 1974 and has been offering comprehensive trading services and solutions to traders for decades. IG is a multi-regulated, multi-asset broker that offers traders with a variety of account types, competitive trading conditions, and powerful trading platforms through which trades can be executed seamlessly.
Pros and Cons
| PROS | CONS |
| Regulated by multiple reputable entities | High minimum deposit requirement |
| Over 16,000 financial instruments | |
| Variety of account options offered | |
| Competitive trading conditions | |
| Longstanding history and good reputation |
Features
| Feature | Information |
| Regulation | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF |
| Minimum deposit from | $250 |
| Average spread from | 0.1 pips on Indices |
| Commissions from | 0.10% CFD EU |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | None |
| Customer Support | 24/5 |
City Index
Overview
Established in 1983, City Index is one of the oldest brokers in the industry, with a reputation of offering traders with unique and dynamic trading solutions. Traders can expect some of the best trading conditions, negative balance protection, trading signals, and a secure trading environment.
Pros and Cons
| PROS | CONS |
| Advanced platforms and tools | Fixed spreads not offered |
| Negative balance protection offered | US Clients not allowed |
| Strictly regulated | Limited payment methods supported |
| Tight spreads, low fees, and superior execution speeds | |
| Trading signals provided |
Features
| Feature | Information |
| Regulation | ASIC, FCA, MAS |
| Minimum deposit from | $100 |
| Average spread from | 0.5 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
easyMarkets
Overview
easyMarkets is a well-regulated Market Maker broker that is headquartered in Cyprus, offering retail and institutional traders with the perfect trading solutions according to their trading needs and objectives.
Traders can also expect negative balance protection which is applied to retail accounts, free guaranteed stops, and competitive trading conditions.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Forex spreads start from 1 pip |
| Fixed spread accounts offered | Variable spread accounts not offered |
| Free guaranteed stops | US Clients not allowed |
| Negative balance protection | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | Yes |
| Customer Support | 24/5 |
ThinkMarkets
Overview
ThinkMarkets is a popular, well-regulated broker that facilitates the trade of a variety of financial instruments which can be traded through powerful trading platforms. In addition, traders are also provided with access to VPS service, commission-free trading options, and competitive trading conditions.
Pros and Cons
| PROS | CONS |
| Strict regulation | No US clients |
| Commission-free trading account | Leverage restricted for EU clients |
| VPS service | Fixed spread accounts not offered |
| Islamic Account option and demo account provided | |
| Competitive trading conditions |
Features
| Feature | Information |
| Regulation | ASIC, FCA |
| Minimum deposit from | $250 |
| Average spread from | 0.1 pips |
| Commissions from | $3.5 per side |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/6 |
Axi
Overview
Axi has been in operation since 2007 and is a well-regulated and popular broker that offers traders with a variety of financial instruments that can be traded. Traders are also provided with commission-free trading accounts, 24/7 customer support, and transparent trading and non-trading fees.
Pros and Cons
| PROS | CONS |
| Strict regulation | US clients not allowed |
| Accounts are commission-free | Fixed spreads not offered |
| MetaTrader 4 NextGen provided | EU-clients restricted on leverage offered |
| Access provided to AutoChartist and PsyQuation |
Features
| Feature | Information |
| Regulation | ASIC, FCA |
| Minimum deposit from | $0 |
| Average spread from | 0.0 pips |
| Commissions from | $7 per round turn |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
XTB
Overview
XTB is a large, reputable, forex and CFD broker in addition to being one of few brokerages listed on a stock exchange. Traders who make use of XTB can expect competitive trading conditions, negative balance protection applied to retail accounts, and a range of financial instruments that can be traded.
Pros and Cons
| PROS | CONS |
| Strict regulation | US Clients not allowed |
| Competitive trading conditions offered | EU Clients restricted to leverage of 1:30 |
| Negative balance protection offered | Fixed spreads not offered |
| Variety of financial instruments | |
| Islamic Account provided as a standalone account |
Features
| Feature | Information |
| Regulation | ACPR, BaFin, CNMV, FCA, IFSC, KNF |
| Minimum deposit from | $250 |
| Average spread from | 0.1 pips |
| Commissions from | $3.50 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
FXCM
Overview
FXCM is a STP broker that is based in the United Kingdom with strict regulation through ASIC, FCA, and FSCA. Traders are offered with a secure and dynamic trading environment in which they can trade a range of financial instruments. In addition, traders can also expect tight spreads, commission-free trading offered on some accounts, and access to MetaTrader 4 NextGen.
Pros and Cons
| PROS | CONS |
| Well-regulated | US clients not accepted |
| Client funds kept in segregated accounts | EU clients restricted to 1:30 leverage |
| Commission-free trading offered | No fixed spreads |
| MetaTrader 4 NextGen offered | |
| Access to AutoChartist and PsyQuation premium |
Features
| Feature | Information |
| Regulation | FCA, ASIC, FSCA |
| Minimum deposit from | $50 |
| Average spread from | 0.2 pips on EUR/USD |
| Commissions from | $0.10 on CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
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Frequently Asked Questions
Is forex trading legal in Sao Tome and Principe?
Yes. Forex trading is legal in Sao Tome and Principe.
Do forex brokers in Sao Tome Principe offer demo accounts?
Yes. The brokers in Sao tome principe on this list offer their traders the option of opening a demo account.
Which forex brokers in Sao Tome and Principe are the best?
The brokers that are featured in this list are the best recommended forex brokers for traders in Sao Tome and Principe.
Who is the regulatory financial authority in Sao Tome and Principe?
The regulatory financial authority in Sao Tome and Principe is the Central Bank of Sao Tome and Principe
Top 4 Brokers
