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5 Best Forex Brokers in Senegal

Best Forex Brokers in Senegal

 

The 5 Best Forex Brokers in Senegal – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Senegal.

 

In this in-depth guide, you will learn:

 

  • The Best Forex Brokers in Senegal – a List
  • Is Forex Trading Legal in Senegal?
  • The Best Forex Brokers in Africa for Beginners
  • The Best MetaTrader Forex Brokers

 

and much, MUCH more!

 

5 Best Forex Brokers in Senegal

 

5 Best Forex Brokers in Senegal – a Comparison

 

🔎 Broker🚀Open an Account🤝 Accepts Traders in Senegal💶 Min. Deposit (CFA)
🥇 Interactive Brokers👉 Click Here✅YesNone
🥈 Exness👉 Click Here✅Yes6025,00
🥉 AvaTrade👉 Click Here✅Yes60250,00
🏅 easyMarkets👉 Click Here✅Yes15062,50
🎖️ eToro👉 Click Here✅Yes6025,00

 

5 Best Forex Brokers in Senegal (2024)

 

  1. ☑️ Interactive Brokers – Overall, the Best Forex Broker in Senegal
  2. ☑️ Exness – Best Overall User Experience
  3. ☑️ AvaTrade – High Trader Trust Score
  4. ☑️ easyMarkets – Best Forex Broker for Beginners
  5. ☑️ eToro – Leading Broker for Copy Trading

 

Interactive Brokers Review

 

Interactive Brokers

Interactive Brokers is a popular and highly regulated trading platform for experienced traders. Regulations include FINRA, IIROC, FCA, CSSF, CBI, MNB, ASIC, SFC, and, MAS. In addition, notable Benefits, Factors, and Features to consider include:

 

  • 24/5 Customer Support
  • Multiple Base Currencies, including USD, AUD, and, CAD
  • Spreads from 0.6 Pips
  • Access to over 100 Currency Pairs
  • No Inactivity Fee is charged
  • Access to Affiliate Program
  • IBKR Lite and IBKR Pro Accounts

 

Trading Instruments include Forex, stocks, ETFs, options, futures, indices, mutual funds, cryptocurrencies, metals, and, bonds. Interactive Brokers support 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 / MT5None
📊 Proprietary Platforms✅Yes
📲 Mobile App✅Yes
🤝 Customer Support24/7
✏️ Education✅Yes
📍 Account TypesIBKR Pro and Lite
🚀Open an Account👉 Click Here

 

Interactive Brokers

 

Pros and Cons

 

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

 

Our Insights

The benefits of trading with Interactive Brokers include a highly regulated and safe trading environment.

 

Exness Review

 

Exness

Exness is a trustworthy and highly regulated Forex Broker with a diverse portfolio of financial assets. Regulations include FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, and, CMA. In addition, notable Benefits, Factors, and Features to consider include:

 

  • Standard Cent and Standard Accounts
  • Raw Spread, Zero, and Pro accounts
  • Demo and Islamic Accounts
  • Spreads from 0.0 Pips
  • Unlimited Leverage
  • Access to over 100 Currency Pairs

 

Trading Instruments include Forex, Commodities, Stocks, Indices, and Cryptocurrencies. Exness supports MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Trading Platform and Mobile App are available.

 

🔎 Broker🥇 Exness
💴 Minimum Deposit10 USD
📈 SpreadsFrom 0.0 pips EUR
📉 LeverageUnlimited
🪙 Currency Pairs100+
🤝 Affiliate Program✅Yes
🚀 Open an Account
👉 Click Here

 

Exness

 

Pros and Cons

 

✅ Pros❌ Cons
Flexible trading accountsDemo account is only valid for 21 days
Well-regulated + Comprehensive fund protectionLimited product portfolio
Powerful trading platformsCountry Restrictions

 

Our Insights

The Benefits of trading with Exness include 24/7 Trusted and Dedicated Customer Support.

 

AvaTrade Review New

 

AvaTrade

AvaTrade is a well-established and impressive Forex and financial services Provider. Regulation includes ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, JFSA. In addition, notable Benefits, Factors, and Features to consider include:

 

  • 24/5 Customer Support
  • Retail, Islamic, Professional, and, Demo Accounts
  • 100 USD Minimum deposit
  • ZAR, USD, GBP, and, AUD Base Currencies
  • Access to a Referal Bonus

 

Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. AvaTrade supports AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, and, ZuluTrade.

 

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

 

✅ Pros❌ Cons
Over 1,260 instrumentsInactivity fees on dormant accounts
Fixed spreads from 0.6 pips on the Pro AccountThe demo account is available for 21 days
Islamic AccountDeposit and withdrawal options are limited
There is a free demo account availableLeverage is capped at 1:30 for retail accounts

 

Our Insights

The benefits of Trading with AvaTrade include access to over 1260 Trading Instruments.

 

easyMarkets Review

 

easyMarkets

easyMarkets is a well-established customer-focused Forex and CFD Broker. Regulations include BVI FSC, CySEC, ASIC, and, the FSA. In addition, notable Benefits, Factors, and Features to consider include:

 

  • TradingView Integartaion
  • 24/5 Customer Support
  • 7 Live Account Types
  • Demo Trading Account
  • 25 USD Minimum Deposit
  • Multiple Base Currencies, including EUR, CAD, and, CZK
  • Spreads from 0.5 Pips
  • Leverage of up to 1:2000

 

Trading Instruments include Forex, shares, cryptocurrencies, precious metals, commodities, indices, and, options. easyMarkets support TradingView, MetaTrader 4, and, MetaTrader 5. In addition, an easyMarkets Mobile App is available.

 

🔎 Broker🥇 easyMarkets
📈 Regulation and LicensesBVI FSC, CySEC, ASIC, FSA
📉 Ease of Use5/5
⏰ Support Hours24/5
📊 Trading PlatformsTradingView, MetaTrader 4, MetaTrader 5, easyMarkets
💹 SpreadsFrom 0.5 pips
📌 Leverage1:2000
💸 Currency Pairs45; major, minor, exotic pairs
💳 Minimum Deposit25 USD
🚫 Inactivity FeeNone
✅ Affiliate Program✅Yes
✔️ Scalping✅Yes
📍 Hedging✅Yes
🚀Open an Account👉 Click Here

 

easyMarkets Review

 

Pros and Cons

 

✅ Pros❌ Cons
Fixed spreadsHigh spreads compared to other brokers.
Bonus OffersNo cent account

 

Our Insights

The benefits of trading with easyMarkets include access to 24-hour customer support via live chat, email, and phone.

 

eToro Review

 

eToro

eToro is a well-established and highly regulated Forex and CFD Broker. Regulations include CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, SIPC. In addition, notable Benefits, Factors, and Features to consider include:

 

  • 24/5 Customer Support
  • Spreads from 1 Pips
  • Leverage of up to 1:400
  • Over 50 Currency Pairs
  • Low 10 USD Minimum Deposit
  • Multilingual Customer Support

 

Trading Instruments include Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, and ETFs. eToro supports a Proprietary Trading Platform and Mobile App.

 

🔎 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 social trading and Smart Portfolios.

 

Forex in Senegal

 

Is Forex Trading Legal in Senegal?

Forex Trading in Senegal is available without restriction. Moreover, it is well-licensed and regulated by the West African Economic and Monetary Union (WAEMU), the Organization for the Harmonization of Business Law in Africa (OHADA), and The Central Bank of West Africa.

 

Is Forex Trading Legal in Senegal?

 

In Conclusion

The popularity of Forex Trading in Senegal has seen a notable rise over the past decade. Moreover, it is Legal and well-regulated. In addition, multiple international Forex 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 ReviewCySEC, MISA, FSCAUSD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit 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 Traders in Senegal, we found 5 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 Senegal is available without restriction.

The West African Economic and Monetary Union (WAEMU), the Organization for the Harmonization of Business Law in Africa (OHADA), and The Central Bank of West Africa.

The West African (CFA) Franc

Nine Tier-1 Regulators govern Interactive Brokers.

The Exness minimum deposit is 10 USD.

24/5 Customer Support is available.

easyMarkets does not charge an inactivity fee.

Regulations include CySEC, FCA, and, ASIC.