7 Best Forex Brokers in Cameroon
Last Update: June 26th, 2024
The 7 Best Forex Brokers in Cameroon – Rated and Reviewed. We have listed the Best Forex Brokers accepting Traders in Cameroon.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Cameroon – a List
- Is Forex Trading legal in Cameroon?
- What is the Best Trading Platform in Cameroon?
- Richest forex traders in Cameroon
and much, MUCH more!
7 Best Forex Brokers in Cameroon – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Cameroonian Traders | 💶 Min. Deposit (XAF) |
| 🥇 Interactive Brokers | 👉 Click Here | ✅Yes | None |
| 🥈 XTB | 👉 Click Here | ✅Yes | None |
| 🥉 OANDA | 👉 Click Here | ✅Yes | None |
| 🏅 Admirals | 👉 Click Here | ✅Yes | 15093,77 |
| 🎖️ IG | 👉 Click Here | ✅Yes | 30187,54 |
| 🥇 AvaTrade | 👉 Click Here | ✅Yes | 60375,07 |
| 🥈 XM | 👉 Click Here | ✅Yes | 3018,75 |
7 Best Forex Brokers in Cameroon (2024)
- ☑️ Interactive Brokers – Overall, the Best Forex Broker in Cameroon
- ☑️ XTB – Best Overall Offering
- ☑️ OANDA – Best Forex Broker for Beginners
- ☑️ Admirals – Low XAF Deposit Broker
- ☑️ IG – Best Online Trading Experience
- ☑️ AvaTrade – Best Forex Broker in Africa
- ☑️ XM – Best Mobile Trading Experience
Interactive Brokers
Interactive Brokers is a world-renowned Financial services provider. Regulations include FINRA, IIROC, FCA, CSSF, CBI, MNB, ASIC, SFC, and, MAS. Accounts available are IBKR Lite and IBKR Pro. Moreover, a Demo Account is available. No Minimum Deposit is required. Notable features include:
- Spreads from 0.6 Pips
- Affiliate Program
- Access to over 100 Currency Pairs
Trading Instruments include Forex, stocks, ETFs, options, futures, indices, mutual funds, cryptocurrencies, metals, and, bonds. Trading Platforms include IBKR Trader WorkStation, IBKR Desktop, IBKR Mobile, IBKR GlobalTrader, IBKR Client Portal, IBKR APIs, and, IBKR Impact.
| 🔎 Broker | 🥇 Interactive Brokers |
| 💴 Min. Deposit | None |
| 💶 Inactivity Fee | None |
| 📈 Tradable Assets | Forex, Metals, Futures, ETFs |
| 🪙 Crypto Trading | ✅Yes |
| 📉 MT4 / MT5 | None |
| 📊 Proprietary Platforms | ✅Yes |
| 📲 Mobile App | ✅Yes |
| 🤝 Customer Support | 24/7 |
| ✏️ Education | ✅Yes |
| 📍 Account Types | IBKR Pro and Lite |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low commissions and fees | Intimidating Platform |
| Excellent educational materials | Complex tiered pricing plans |
| Reliable trade execution | Lacking Customer Support |
Our Insights
Interactive Brokers best suit established and active traders who can benefit from the selection of Trading Platforms offered.
XTB
XTB is a highly trusted and regulated Forex and CFD Broker. Regulations include FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and, the IFSC. Accounts available are Standard and Swap-Free. Moreover, a Demo Account is available. No Minimum deposit is required. Notable features include:
Trading Instruments include Forex, indices, commodities, stocks, ETFs, and, crypto CFDs. Trading Platforms available are xStation 5 and xStation Mobile.
| 🔍 Broker | 🥇 XTB |
| 📌 Year Founded | 2002 |
| 👤 Amount of Staff | Approximately 2,000 |
| 👥 Amount of Active Traders | Over 500,000 |
| 📍 Publicly Traded | Warsaw Stock Exchange |
| 📈 Regulation | FCA, KNF, IFSC, CySEC |
| 🌎 Country of Regulation | UK (FCA), Poland (KNF) |
| 📉 Account Segregation | ✅Yes |
| 📊 Negative Balance Protection | ✅Yes |
| 💹 Investor Protection Schemes | ✅Yes |
| 🅰️ Institutional Accounts | ✅Yes |
| 🅱️ Managed Accounts | None |
| 💰 Minor Account Currencies | Major, Minor |
| 💴 Minimum Deposit | Varies by account type |
| ⚡ Average Deposit/Withdrawal Processing Time | 1-3 business days |
| 💶 Fund Withdrawal Fee | None |
| 📐 Spreads From | From 0.1 pips |
| 💶 Commissions | Variable |
| 💵 Number of Base Currencies Supported | 30+ |
| 💷 Swap Fees | ✅Yes |
| 🔖 Leverage | Up to 1:500 |
| 🏷️ Margin Requirements | Varies |
| ☪️ Islamic Account | ✅Yes |
| 🆓 Demo Account | ✅Yes |
| 🖇️ Order Execution Time Seconds | Milliseconds - |
| 🖥️ VPS Hosting | Select accounts |
| 📈 CFDs Total | Over 2,000 |
| 📉 CFD Stock Indices | Major global indices |
| 🍎 CFD Commodities | Oil, gold, etc. |
| 📊 CFD Shares | ✅Yes |
| 💴 Deposit Options | Bank transfer, credit/debit, e-wallets, etc. |
| 💶 Withdrawal Options | Bank transfer, credit/debit, e-wallets, etc. |
| 🖱️ Trading Platforms | xStation 5 |
| ⭐ OS Compatibility | Windows, macOS, iOS, Android |
| ⚙️ Forex Trading Tools | Charting tools, technical analysis |
| 🥰 Live Chat Availability | ✅Yes |
| ☎️ Customer Support Contact Number | Varies by region |
| 💙 Social Media Platforms | Twitter, Facebook, LinkedIn, |
| 🚩 Languages Supported | Multiple languages |
| ✏️ Forex Course | ✅Yes |
| 📔 Webinars | ✅Yes |
| 📚 Educational Resources | Articles, tutorials, etc. |
| 🤝 Affiliate Program | ✅Yes |
| 🫶 Amount of Partners | Numerous global partners |
| 🫰🏻 IB Program | ✅Yes |
| 🔖 Notable Events or Teams | ✅Yes |
| 🏷️ Rebate Program | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | High conversion fee |
Our Insights
XTB suits all levels of Traders. Moreover, Beginners will benefit from multilingual customer support and website options.
OANDA
OANDA is amongst the highest regulated Forex Brokers. Regulations include IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and, BVI FSC. Accounts offered are Standard, Core, Swap-Free, Premium, and, Premium Core. Moreover, a Demo Account is available. Notable features include:
- Spreads from 0.1 Pips
- Leverage of up to 1:888 (Regional)
- Access to over 40 Currency Pairs
Trading Instruments include Forex, indices, commodities, metals, shares, energies, and, cryptocurrencies. Trading Platforms available are FxTrade, MetaTrader 4, and, MetaTrader 5. In addition, a Proprietary Trading Platform is available.
| 🔎 Broker | 🥇 OANDA |
| 💶 Minimum Deposit | None |
| 📌 Account Types | Standard, Elite Trader |
| 🆓 Demo Account | ✅Yes |
| 🎁 Bonus Offers | ✅Yes |
| ✏️ Education | ✅Yes |
| 📲 Mobile Trading | ✅Yes |
| 🖱️ Trading Platform | MetaTrader 4 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Great trading platforms | Only FX and CFD available for most clients |
| Outstanding research tools | Lacking Customer Support |
| Low trading fees | Inactivity fee |
Our Insights
The benefits of trading with OANDA include an impressive range of Educational Resources, including Webinars and Events.
Admirals
Admirals is a powerful Forex and CFD Broker. Regulations include FCA, ASIC, CySEC, JSC, FSCA, FSA, and, the CMA. Accounts available are Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, and, Bets.MT5. Moreover, a Demo Account is available. The Minimum deposit is 25 USD. Notable features include:
- Spreads from 0.0 Pips
- Leverage of up to 1:1000
- Access to over 80 Currency Pairs
- 10 Base Currencies
Trading Instruments include ESG, Forex, Crypto CFDS, Indices, Stocks, ETFs, and, Bonds. Trading Platforms available are MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile Trading App is available.
| 🔎Broker | 🥇Admirals |
| 💴Minimum Deposit | 25 USD |
| 🎉Established Year | 2001 |
| ⏰Support Hours | 24/5 |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
| 📈Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Admirals has zero-pip spreads on certain accounts and instruments | Fractional share trading is not offered |
| There is a large range of financial instruments that can be traded, divided according to the region and regulation under which traders sign up | Inactivity fees apply |
| Admirals offers MetaTrader 4 and 5 across devices | Admirals does not offer a Cent Account |
| Traders can expect comprehensive educational material from Admirals | Admirals is a market maker, which means they serve as the counterparty in all deals. This might be a disadvantage for traders who wish to compete with other traders |
Our Insights
Traders will benefit from multiple trusted deposit options, impressive education, and, trusted customer support.
IG
IG is a trusted Financial services provider with a global reach. Regulations include FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, and, BMA. Accounts available are:
- CFD/DMA Trading Account
- Limited Risk Trading Account
- Options Trading Account
- Turbo24 Trading Account
- Share Dealing Account
- Spread Betting Account
- Swap-Free Trading Account
Moreover, a Demo account is available. The minimum deosit is 50 USD.Trading Instruments offered are Forex, indices, share CFDs, commodities, cryptocurrencies, futures, options, bonds, ETFs, Digital 100s, and, Interest Rates.
Trading Platforms available are MetaTrader 4, ProRealTime (PRT), L2 Dealer, and, FIX API.
| 🔎Broker | 🥇IG |
| 📈 Regulation and Licenses | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📉 Ease of Use | 4/5 |
| 📊 Support Hours | 24/7 |
| 💻 Trading Platforms | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💴 Base Currencies | USD |
| 📊 Spreads | From 0.1 pips DMA |
| 📌 Leverage | 1:222 (Pro), 1:30 (EU, UK, Retail) |
| 💸 Currency Pairs | 80+; major, minor, and exotic pairs |
| 💳 Minimum Deposit | From 50 USD (differs per region) |
| 🚫 Inactivity Fee | Yes, 12 USD after 2 years of inactivity |
| 📍 Website Languages | English |
| 💰 Fees and Commissions | Spreads from 0.1 pips, commissions from 0.10% |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Access to over 17,000 instruments across markets | Limitations on customer support hours |
| Investing opportunities for high-volume traders | Inactivity fees apply |
| Several advanced Trading platforms | IG is not available in all regions |
Our Insights
IG is best suited to Experienced Traders, Its large number of Proprietary and Third-Party offerings may overwhelm beginners.
AvaTrade
AvaTrade is amongst the Best Forex and CFD Brokers in Africa. Regulations include ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, the JFSA. Accounts available include Retail, Islamic, and, Professional. Moreover, a Demo account is available. The minimum deposit is 100 USD. Notable features include:
- Access to over 1’260 Instruments
- Retail and Professional Accounts
- Leverage from 1:30 – 1:400
- Access to over 50 Currency Pairs
Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. Trading Platforms include AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, and, ZuluTrade.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Over 1,260 instruments | Inactivity fees on dormant accounts |
| Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
| Islamic Account | Deposit and withdrawal options are limited |
| There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insights
The Benefits of trading with AvaTrade include access to Social and Copy Trading.
XM
XM is a popular and trusted Financial Services Provider. Regulations include the FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA. Accounts available are Micro, Standard, Ultra-Low, and Shares. Moreover, a Demo Account is offered. The minimum deposit is 5 USD. Notable features include:
- Spreads from 0.6 Pips
- Leverage of up to 1:1000
- Access to Over 50 Currency Pairs
- Low Minimum Deposit
Trading Instruments include Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, and, Turbo Stocks. Trading Platforms available are MetaTrader 4 and MetaTarder 5. In Addition, a Proprietary Mobile App is available.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
The Benefits of trading with XM includes a wide variety of educational resources and 24/7 Customer Support.
Is Forex Trading legal in Cameroon?
Forex Trading is Legal in Cameroon. Moreover, it falls under the regulatory authority of the Commission des Marchés Financiers (CMF).
In Conclusion
Forex Trading in Cameroon has seen a notable rise amongst young professionals. Moreover, Multiple international Forex Brokers accept Cameroonian Traders.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
While reviewing the Best Forex Brokers that accept Cameroonian 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.
You might also like:
- Interactive Brokers Review
- XTB Review
- OANDA Review
- Admirals Review
- IG Review
- AvaTrade Review
- XM Review
Forex Trading in Cameroon is Legal and Regulated.
The Commission des Marchés Financiers (CMF).
Interactive Brokers provides the best Trading Platforms in Cameroon.
The richest Forex Traders in Africa include George Sorors, Bill Gross, Carl Icahn, and, David Einhorn.
The Interactive Brokers Website is available in English, Spanish, Portuguese, and, Chinese.
No Minimum Deposit is required.
Admirals offers a Proprietary Mobile Trading App.
24/7 Customer Support is offered.
ZAR, USD, GBP, and, AUD
XM provides a cost-free Demo Account.
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