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4 Best Forex Brokers in Guinea

Last Update: July 5th, 2024

Forex Brokers Guinea

 

The 4 Best Forex Brokers in Guinea – Rated and Reviewed. We have listed the Best Forex Brokers that accept traders in Guinea.

 

In this in-depth guide, you will learn:

  • The Best Forex Brokers in Guinea – a List
  • Is Forex Trading Legal in Guinea?
  • The Best Forex Brokers Accepting Guinean Currency
  • The Best Forex Brokers in Conakry
  • The Best Forex Brokers for Beginners and Foreigners

and much, MUCH more!

 

4 Best Forex Brokers in Guinea

 

4 Best Forex Brokers in Guinea – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Guinean Traders💴 Min. Deposit (GNF)
🥇 eToro👉 Click Here✅Yes85950,00
🥈 IG👉 Click Here✅Yes429750,00
🥉 IQ Option👉 Click Here✅Yes85950,00
🏅 FxPro👉 Click Here✅Yes859500,00

 

4 Best Forex Brokers in Guinea (2024)

  1. ☑️ eToro – Overall, the Best Forex Broker in Guinea
  2. ☑️ IG – Best Overall Offering
  3. ☑️ IQ Option – Low GNF Minimum Deposit
  4. ☑️ FxPro – Best Online Trading Experience

 

eToro Review

 

eToro

eToro is a highly regulated and trusted Forex and CFD Broker. Regulations include and are not limited to, ASIC, CySEC, and, FSA. A Standard Retail and Demo Account plus a Proprietary trading platform is available. Notable features include:

Trading Instruments include Forex, Stocks, crypto CFDs, Indices, Commodities, and, ETFs.

🔎 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

The benefits of trading with eToro include access to a powerful and user-friendly proprietary trading platform.

 

IG Review

 

IG

IG is a Tier-1 Regulated Financial Service Provider. Regulations include FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, and, BMA. Accounts include:

  • CFD/DMA Account
  • Limited Risk Trading Account
  • Options Trading Account
  • Turbo24 Trading Account
  • Share Dealing Account
  • Spread Betting Account
  • Swap-Free Account

Moreover, a Demo Account is available. Trading instruments include Forex, indices, share CFDs, commodities, cryptocurrencies, futures, options, bonds, ETFs, and, Digital 100s. IG supports MetaTrader 4, ProRealTime (PRT), L2 Dealer, and, FIX API. In addition, a Proprietary Platform is available.

🔎Broker🥇IG
📈 Regulation and LicensesFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
📉 Ease of Use4/5
📊 Support Hours24/7
💻 Trading PlatformsMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💴 Base CurrenciesUSD
📊 SpreadsFrom 0.1 pips DMA
📌 Leverage1:222 (Pro), 1:30 (EU, UK, Retail)
💸 Currency Pairs80+; major, minor, and exotic pairs
💳 Minimum DepositFrom 50 USD (differs per region)
🚫 Inactivity FeeYes, 12 USD after 2 years of inactivity
📍 Website LanguagesEnglish
💰 Fees and CommissionsSpreads from 0.1 pips, commissions from 0.10%
🚀Open an Account👉 Click Here

 

IG

 

Pros and Cons

✅ Pros❌ Cons
Access to over 17,000 instruments across marketsLimitations on customer support hours
Investing opportunities for high-volume tradersInactivity fees apply
Several advanced Trading platformsIG is not available in all regions

 

Our Insights

IG best suits Professional Traders. Established Traders will benefit from various account types and trading platforms.

 

IQ Option Review

 

IQ Option

IQ Option is a prominent Forex and CFD Brokerage Platform. Accounts available are LIVE and VIP. Moreover, a Demo Account is available. The minimum deposit is 10 USD. Notable features include:

  • Spreads from 2 Pips
  • Leverage of up to 1:500
  • Over 34 Currency Pairs
  • Commission Free Trading.

Trading Instruments include Forex, Stocks, and, Cryptocurrencies. Moreover, a Proprietary Trading Platform is available.

🔎 Broker🥇 IQ Option
📈 Regulation and LicensesNot Regulated
📉 Ease of Use4/5
📊 Support Hours24/7
💹 Trading PlatformsIQ Option Platform
📌 Account TypesLive, VIP
📊 Spreads2 pips
📈 Leverage1:500
💳 Minimum Deposit10 USD
🚫 Inactivity Fee✅Yes
🚀Open an Account👉 Click Here

 

IQ Option

 

Pros and Cons

✅Pros❌Cons
Stocks, currency, commodities, and crypto tradingSelect withdrawal methods may be prohibited
Minimum Deposit 10 USDLimited Regulation

 

Our Insights

The benefits of trading with IC Markets include access to multilingual customer support.

 

FXPro Review

 

FxPro

FxPro is a Forex and CFD broker that serves a broad spectrum of traders. Regulations include FCA, CySEC, SCB, FSCA, and, the FSC. Accounts available are Standard, Pro, Raw+, and, ECN. Moreover, a Demo Account is available. The minimum deposit is 100 USD. Notable features include:

  • Multiple Base Currencies
  • Spreads from 0.0 Pips
  • Leverage of up to 1:500
  • An Affiliate Program

Trading Instruments include Forex, Futures, Indices, Shares, Metals, Energies, and Crypto CFDs. FxPro supports MetaTrader 4, MetaTrader 5, and cTrader. In addition, a Proprietary Trading Platform and Mobile app are available.

🔎 Broker🥇 FxPro
💴 Minimum Deposit100 USD
💵 Inactivity FeeNone
💶 Fees and CommissionsSpreads from 0.0 pips, commissions from $7 per round turn on Forex
🤝 Affiliate Program✅Yes
🌎 Banned CountriesThe United States, Canada, Iran
📈 Scalping✅Yes
📉 Hedging✅Yes
5️⃣ Ease of Use Rating4/5
⏰ Support Hours24/5
🚀 Open an Account
👉 Click Here

 

FxPro

 

Pros and Cons

✅Pros❌Cons
MetaTrader 4 and 5 Basic FXPro App
cTrader accountsCommissions on cTrader accounts

 

Our Insights

The benefits of trading with FxPro include access to nine interactive online courses for beginners.

 

Forex in Guinea

 

Is Forex Trading Legal in Guinea?

Forex Trading is Legal in Guinea. The Central Bank (BCRG) oversees the Guinean banking and e-currency sector.

 

Is Forex Trading Legal in Guinea?

 

The Central Bank (BCRG)

Banque Centrale de la République de Guinée, or the Central Bank of Guinea, oversees the country’s banking and e-currency sectors and serves as the government treasury.

 

The Central Bank (BCRG)

 

Conakry Guinea

Guinea’s Capital City is Conakry, which serves as the country’s financial, cultural, and economic center.

 

Conakry Guinea

 

In Conclusion

Forex Trading in Guinea Bissau is Legal.  The country’s regulatory authority determines laws and rules regarding the local financial markets. Moreover, several International Brokers accept local traders.

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 Guinean 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 is Legal in Guinea.

The Central Bank (BCRG) oversees the Guinean banking and e-currency sector.

Regulations include CySEC, FCA, and, ASIC.

The Minimum deposit starts from 10 USD. The minimum deposit is account-dependent.

An affiliate option is offered.

Scalping and Hedging are allowed.

24/7 Customer Support is available.

A Cost-Free Demo Account is available.

No inactivity fee is charged.

24/5 Customer Support is available.

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