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7 Best Forex Brokers in Burkina Faso

Last Update: June 26th, 2024

Forex Brokers Burkina Faso

 

The 7 Best Forex Brokers in Burkina Faso – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Burkina Faso.

 

In this in-depth guide you will learn:

 

  • The Best Forex Brokers in Burkina Faso – a List
  • Is Forex Trading Legal in Burkina Faso?
  • Leading MetaTrader Forex Brokers
  • Who Regulates Forex Trading in Burkina Faso?
  • The Best Forex Brokers for Beginners
  • Low XOF Minimum Deposit Forex Brokers

 

and much, MUCH more!

 

7 Best Forex Brokers in Burkina Faso

 

7 Best Forex Brokers in Burkina Faso – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Burkinabé Traders💴 Min. Deposit (XOF)
🥇 eToro👉 Click Here✅Yes6032,18
🥈 Pepperstone👉 Click Here✅Yes80679,16
🥉 XTB👉 Click Here✅YesNone
🏅 Tickmill👉 Click Here✅Yes60321,77
🎖️ FXCM👉 Click Here✅Yes30160,89
🥇 FP Markets👉 Click Here✅Yes40339,58
🥈 Interactive Brokers👉 Click Here✅YesNone

 

7 Best Forex Brokers in Burkina Faso (2024)

 

  1. ☑️ eToro – Overall, the Best Forex Broker in Burkina Faso
  2. ☑️ Pepperstone – Best MetaTrader Forex Broker
  3. ☑️ XTB – Low XOF Minimum Deposit Broker
  4. ☑️ Tickmill – Best Forex Broker for Beginners
  5. ☑️ FXCM – Excellent Mobile Trading Experience
  6. ☑️ FP Markets – Best Overall Offering
  7. ☑️ Interactive Brokers – Best Trading Platform Offered

 

eToro Review

 

eToro

eToro is a well-established and trusted Forex and CFD Broker. Regulations include CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, SIPC. A Standard Retail and Demo Account Option is offered. The minimum deposit is 100 USD. Notable features include:

 

 

Trading Instruments include Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, and, ETFs. The Trading Platform available is Proprietary.

 

🔎 Broker🥇 eToro
📈 Regulation and LicensesCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
📉 Ease of Use5/5
📊 Support Hours24/5
💻 Trading PlatformseToro platform
💹 Account TypesStandard Retail Account
💴 Base CurrenciesUSD
🅰️ SpreadsFrom 1 pip EUR/USD
🅱️ Leverage1:400 (eToro Seychelles Ltd)
💶 Currency Pairs55; minor, major, exotic pairs
💳 Minimum DepositFrom 10 USD (US)
🚫 Inactivity Fee10 USD after 12 months of inactivity
📌 Website LanguagesEnglish, Italian, German, etc.
💰 Fees and CommissionsSpreads from 1 pip, zero commission fees
🤝 Affiliate Program✅Yes
✖️ Banned CountriesCanada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria
📈 ScalpingNone
📉 Hedging✅Yes
📊 Trading InstrumentsForex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs
🚀Open an Account👉 Click Here

 

eToro Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Social tradingWithdrawal Fee
Low trading feesInactivity fee
Negative balance protectionConversion fees
User-friendly PlatformSingle base currency

 

Our Insights

eToro suits all levels of traders. However, it should be noted that the Minimum deposit will increase per Account and, an Inactivity Fee will be charged.

 

Pepperstone

 

Pepperstone

Pepperstone is a highly Regulated Australian Financial Services Provider. Regulations include ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB. Accounts offered are Standard and Razor. Moreover, a Demo Account is available. The minimum deposit is AU$ 200.

 

  • Access to Over 70 Currency Pairs, including Major, Minor, and, Exotic
  • TradingView Integration
  • Spreads from 0.0 Pips
  • Leverage of up to 1:500 on the Pro account.

 

Trading Instruments include Forex, commodities, indices, currency indices, cryptocurrencies, shares, and, ETFs. Trading Platforms available are TradingView, MetaTrader 4, MetaTrader 5, cTrader, and, Capitalise.ai.

 

🔎 Broker🥇 Pepperstone
💴 Minimum DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

 

✅ Pros❌ Cons
Fully digital account openingMostly CFDs offered
Great customer serviceBasic Trading Platforms

 

Our Insights

Pepperstone offers a selection of account types and trading platforms that will benefit both Professionals and Beginners.

 

XTB Review

 

XTB

XTB is a trusted and established Forex and CFD Broker. Regulations include FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and, IFSC. Accounts offered are Standard and Swap-Free. Moreover, a Demo Account is available. No Minimum deposit is required. Notable features include:

 

  • Spreads from 0.5 Pips
  • Leverage of up to 1:500
  • Access to over 57 Currency Pairs

 

Trading Instruments include Forex, indices, commodities, stocks, ETFs, and, Crypto CFDs. Trading Platforms available are xStation 5 and xStation 5 Mobile.

 

🔍 Broker🥇 XTB
💵 Minimum Deposit0 USD
5️⃣ Ease of use Rating 5/5
🎁 Bonuses✅ Yes
⏰ Support Hours24/5
🚀 Open an Account👉 Click Here

 

XTB

 

Pros and Cons

 

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh conversion fee

 

Our Insights

The XTB Standard Account is suited to Both active and casual Traders. Moreover, No minimum deposit is required.

 

Tickmill Review

 

Tickmill

Tickmill is a prominent Forex and CFD broker. Regulations include the Seychelles FSA, FCA, CySEC, Labuan FSA, and, the FSCA. Accounts offered are CIP, Classic, and, Pro. Moreover, a Demo Account is available. The minimum deposit is 100 USD. Notable features include:

 

  • Spreads from 0.0 Pips
  • Leverage of up to 1:500
  • Access to over 60 Currency Pairs

 

Trading Instruments include Forex, stock indices, energy indices, precious metals, bonds, cryptocurrencies, stocks, and, ETFs. Trading Platforms are MT4 and MT5. In addition, a Proprietary Trading App is available.

 

🔎 Broker🥇 Tickmill
💴 Minimum Deposit$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips on the Pro and VIP Accounts
📉 Leverage1:500
💶 Currency Pairs62, major, minor, and exotic pairs
📊 Scalping✅Yes
💹 Hedging✅Yes
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, Tickmill App
⏰ Support Hours24/5
🚀 Open an Account
👉 Click Here

 

Tickmill Overview

 

Pros and Cons

 

✅ Pros❌ Cons
MetaTrader 4 and MetaTrader 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Our Insights

Tickmill suits all levels of Traders. Moreover, Beginners will benefit from educational resources and trusted customer support.

 

FXCM Review

 

FXCM

FXCM is a highly-respected Forex and CFD Provider. Regulations include FCA, ASIC, CySEC, and, the FSCA. A CFD Trading Account is offered. Moreover, a Demo Account is available. The minimum deposit is 50 USD. Notable features include:

 

  • Access to Copy Trading
  • Spreads from 0.2 Pips
  • Leverage of up to 1:30

 

Trading Instruments include Forex, shares, indices, commodities, cryptocurrencies, Forex Baskets, and, Stock Baskets. Trading Platforms available are Trading Station, TradingView Pro, MetaTrader 4, Capitalise AI, and ZuluTrade. In addition, a proprietary Trading App is offered.

 

🔍 Broker🥇 FXCM
💵 Minimum Deposit50 USD
4️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes
🕰️ Support Hours24/5
🚀 Open an Account👉 Click Here

 

FXCM

 

Pros and Cons

 

✅ Pros❌ Cons
Multitude of educational materialsHigh Currency conversion fees
Multiple Account TypesNarrow asset portfolio
24-hour multilingual customerLimited Trading Platforms

 

Our Insights

The benefits of trading with FXCM include educational resources and multi-lingual Customer Support.

 

FP Markets

 

FP Markets

FP Markets is a leading Financial Services Provider that operates within a Strong Regulatory authority. Regulations include ASIC, CySEC, FSCA, FSA, and, the FSC. Accounts offered are Standard, Raw, Islamic Standard, and, Islamic Raw. Moreover, a Demo Account is available. The Minimum deposit is AU$ 100. Notable features include:

 

  • Spreads from 0.0 Pips
  • Leverage of up to 1:500
  • No Inactivity Fee is Charged

 

Trading Instruments include Forex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, and, Bonds. Trading Platforms are MetaTrader 4, MetaTrader 5, IRESS, and, cTrader. A Proprietary Mobile App is available.

 

🔎 Broker🥇 FP Markets
💴 Minimum DepositAU$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips
📉 Leverage1:500
💶 Currency PairsMajor, Minor, Exotic
📌 RegulationsASIC, CySEC, FSCA, FSA, FSC
5️⃣ Ease of Use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

FP Markets

 

Pros and Cons

 

✅ Pros❌ Cons
FP Markets is regulated in several regionsThere are limited instruments offered
MetaTrader, cTrader, and IRESS are availableresearch tools are not extensive
Tight Spreads Withdrawal fees apply
There are low forex feesNo sign-up or no-deposit bonus

 

Our Insights

The Benefits of trading with FP Markets include access to Scalping and Hedging.

 

Interactive Brokers Review

 

Interactive Brokers

Interactive Brokers is a highly-regulated Financial Services Provider. Regulations include FINRA, IIROC, FCA, CSSF, CBI, MNB, ASIC, SFC, and, MAS. Accounts available are IBKR Lite and IBKR Pro. No Minimum Deposit is required. Notable features include:

 

  • Spreads from 0.6 Pips
  • Leverage of up to 1:30
  • Access to over 100 Currency Pairs

 

Trading Instruments include Forex, stocks, ETFs, options, futures, indices, mutual funds, cryptocurrencies, metals, and, bonds. Trading Platforms available are IBKR Trader WorkStation, IBKR Desktop, IBKR Mobile, IBKR GlobalTrader, IBKR Client Portal, IBKR APIs, and, IBKR Impact.

 

🔎 Broker🥇 Interactive Brokers
💴 Min. DepositNone
💶 Inactivity FeeNone
📈 Tradable AssetsForex, Metals, Futures, ETFs
🪙 Crypto Trading✅Yes
📉 MT4 / MT5 None
📊 Proprietary Platforms✅Yes
📲 Mobile App✅Yes
🤝 Customer Support24/7
✏️ Education✅Yes
📍 Account TypesIBKR Pro and Lite
🚀Open an Account👉 Click Here

 

Interactive Brokers Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Low commissions and feesIntimidating Platform
Excellent educational materialsComplex tiered pricing plans
Reliable trade executionLacking Customer Support

 

Our Insights

Interactive Brokers best suit Professional Traders. Benefits of trading with Interactive Brokers include Dedicated, multilingual Customer Support.

 

Forex Trading in Burkina Faso

 

In Conclusion

Forex Trading in Burkina Faso has seen a minimal rise in popularity. Moreover, Forex in Burkina Faso is not explicitly illegal, however, it is not regulated. Burkinabé Traders must choose to Trade with an International Broker with a Global Regulation.

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker >>

 

Our Insights

While reviewing the Best Forex Brokers that accept Burkinabé Traders, we found 7 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.

 

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FAQs

Forex in Burkina Faso is not explicitly illegal.

A local financial body does not Regulate Forex Trading in Burkina Faso.

The minimum deposit to open an eToro Standard Account is 10 USD.

Pepperstone offers Leverage of up to 1:500 on the Pro Account and 1:200 on the Retail Account.

Regulations include FCA, ACPR, BaFin, and, DFSA.

An inactivity fee is not charged.

24/5 Customer Support is available.

Spreads start from 0.0 Pips.

Over 100 Currency Pairs, including Major, Minor, and, Exotic Pairs.

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