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4 Best Forex Brokers in Eritrea

Last Update: June 26th, 2024

Best Forex Brokers in Eritrea

The 4 Best Forex Brokers in Eritrea – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Eritrea.

 

In this in-depth guide you will learn:

  • The Best Forex Brokers in Eritrea – a List
  • The Best Brokers in Eritrea for Beginners and Foreigners
  • Leading MetaTrader Forex Brokers
  • Trusted Forex Brokers in Africa

and much, MUCH more!

 

4 Best Forex Brokers in Eritrea

 

4 Best Forex Brokers in Eritrea – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Eritrean Traders💶 Min. Deposit (ERN)
🥇 TMGM👉 Click Here✅Yes1,500 ERN
🥈 Tickmill👉 Click Here✅Yes1,500 ERN
🥉 XM👉 Click Here✅Yes75 ERN
🏅 FXCM👉 Click Here✅Yes750 ERN

 

4 Best Forex Brokers in Eritrea (2024)

  1. ☑️ TMGM – Overall, the Best Forex Broker in Eritrea
  2. ☑️ Tickmill – Best Overall Offering
  3. ☑️ XM – Low ERN Minimum Deposit
  4. ☑️ FXCM – Best Overall Trading Experience

 

TMGM Review

 

TMGM

TMGM is a leading and innovative Financial Service Provider. Regulations include ASIC, FMA, and, the VFSC. Accounts include Classic, Edge, IRESS Standard, IRESS Premium, and, IRESS Gold. Moreover, An Islamic, Swap-Free Account is provided on the Edge and Classic Accounts. Furthermore, a Demo Account is available. Notable features include:

  • Spreads from 0.0 Pips
  • Leverage of up to 1:1000
  • Access to Over 50 Currency Pairs
  • Multilingual Customer support

Trading Instruments include Forex, Metals, Shares, Energies, Crypto CFDs, and, Indices. TMGM supports MetaTrader 4, MetaTrader 5, IRESS, and, HUBx.

🔍 Broker🥇TMGM
💵 Minimum Deposit100 USD
4️⃣ Ease of use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

TMGM Review

 

Pros and Cons

✅ Pros❌ Cons
Quick order execution + little slippageRestricted Proprietary Platforms
MT4 and MT5Limited Demo Account

 

Our Insights

With a High Minimum Deposit, an Inactivity Fee, and, Possible Commissions, TMGM is better suited to Established Traders.

 

Tickmill Review

 

Tickmill

Tickmill is a trusted and highly regulated Forex and CFD Broker. Regulations include Seychelles FSA, FCA, CySEC, Labuan FSA, and, the FSCA. Accounts include VIP, Classic, and, Pro. Moreover, Demo and Islamic, Swap-Free Accounts are available. The minimum deposit is 100 USD. Notable features include:

  • Bonus Offers and Promotions
  • Multiple Base Currencies
  • Spreads from 0.0 Pips
  • Leverage of up to 1:500

Trading Instruments include Forex, Stock indices, Energy indices, Precious metals, Bonds, Cryptocurrencies, stocks, and, ETFs. Tickmill supports MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile 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

The Benefits of trading with Tickmill include Trading with Minimal Commissions. Moreover, Trusted Customer Support is provided.

 

XM Review

 

XM

XM is a well-known and trusted Forex and CFD Broker. Regulations include FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA. Accounts include Micro, Standard, Ultra-Low, and, Shares. Moreover, Demo and Islamic-Swap Fees are available. Notable features include:

  • A Referal Bonus
  • Over 55 Currency Pairs
  • Multilingual Customer Support
  • 24/7 Customer Support

Trading Instruments include Forex, cryptocurrencies, stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Individual shares, and, Turbo Stocks. XM supports MetaTrader 4 and MetaTrader 5. Moreover, a Proprietary Mobile App is available.

 

XM Overview

 

Pros and Cons

✅ Pros❌ Cons
Low Minimum depositNo social trading features available
Unlimited Demo AccountInactivity Fees

 

Our Insights

XM suits all levels of Traders. Moreover, Beginners will benefit from a Low ERN Minimum Deposit.

 

FXCM Review

 

FXCM

FXCM is a respected and well-established Financial Services Provider. Regulations include FCA, ASIC, CySEC, and, the FSCA. A single Live Trading Account is provided. Moreover, a Demo and Islamic, Swap-Free Option is available. The minimum deposit is 50 USD. Notable features include:

  • Access to Over 45 Currency Pairs
  • Spreads from 0.2 Pips
  • Leverage of up to 1:400

Trading Instruments include Forex, shares, indices, commodities, cryptocurrencies, Forex Baskets, and, Stock Baskets. FXCM supports Trading Station, TradingView Pro, MetaTrader 4, Capitalise AI, and, ZuluTrade. Moreover, a Proprietary Mobile App is available.

🔍 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 Trusted Customer Support.

 

Forex in Eritrea

 

Muslim Forex Trading in Eritrea

Christianity and Islam are the two major religions in Eritrea. Muslim Investors in Eritrea can trade Forex without Restriction. However, it must be done via a Forex Broker that provides an Islamic Swap-Free Account.

 

Muslim Forex Trading in Eritrea

 

In Conclusion

Forex Trading in Eritrea is Less Popular but Legal and available without restrictions. Moreover, several International Forex Brokers accept local investors.

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker
🥈Read ReviewFSCA, IFSC, ASIC, CySEC, DFSA, FCAUSD 5Visit Broker
🥉Read ReviewFCA, FSCA, FSC, CMAUSD 10Visit 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 Eritrean Traders, we found 4 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 Trading in Eritrea is available without restriction.

TMGM provides 24/7 Customer Support.

An Islamic, Swap-Free Account is provided on the Edge and Classic Accounts.

An Inactivity Fee is not charged.

Tickmill provides a swap-free account that is 100% compliant with Shariah law.

A cost-free Demo Account is available.

Islamic or swap-free accounts are available at XM.

The minimum deposit is 50 USD.

FXCM provides an Islamic, Swap-Free Account.

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