5 Best Forex Brokers in Senegal
Last Update: June 26th, 2024
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 – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Traders in Senegal | 💶 Min. Deposit (CFA) |
| 🥇 Interactive Brokers | 👉 Click Here | ✅Yes | None |
| 🥈 Exness | 👉 Click Here | ✅Yes | 6025,00 |
| 🥉 AvaTrade | 👉 Click Here | ✅Yes | 60250,00 |
| 🏅 easyMarkets | 👉 Click Here | ✅Yes | 15062,50 |
| 🎖️ eToro | 👉 Click Here | ✅Yes | 6025,00 |
5 Best Forex Brokers in Senegal (2024)
- ☑️ Interactive Brokers – Overall, the Best Forex Broker in Senegal
- ☑️ Exness – Best Overall User Experience
- ☑️ AvaTrade – High Trader Trust Score
- ☑️ easyMarkets – Best Forex Broker for Beginners
- ☑️ eToro – Leading Broker for Copy Trading
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. 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
The benefits of trading with Interactive Brokers include a highly regulated and safe trading environment.
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 Deposit | 10 USD |
| 📈 Spreads | From 0.0 pips EUR |
| 📉 Leverage | Unlimited |
| 🪙 Currency Pairs | 100+ |
| 🤝 Affiliate Program | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Flexible trading accounts | Demo account is only valid for 21 days |
| Well-regulated + Comprehensive fund protection | Limited product portfolio |
| Powerful trading platforms | Country Restrictions |
Our Insights
The Benefits of trading with Exness include 24/7 Trusted and Dedicated Customer Support.
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 Deposit | 100 USD |
| 🖱️ Account Types | Retail, Islamic, Professional |
| 🪙 Base Currencies | ZAR, USD, GBP, AUD |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes, referral bonus |
| ⏰ Support Hours | 24/5 |
| 💵 Currency Pairs | 51; Major, Minor, Exotic Pairs |
| 🤝 Affiliate Program | ✅ Yes |
| 🚀 Open an Account | 👉 Click Here |
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 over 1260 Trading Instruments.
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 Licenses | BVI FSC, CySEC, ASIC, FSA |
| 📉 Ease of Use | 5/5 |
| ⏰ Support Hours | 24/5 |
| 📊 Trading Platforms | TradingView, MetaTrader 4, MetaTrader 5, easyMarkets |
| 💹 Spreads | From 0.5 pips |
| 📌 Leverage | 1:2000 |
| 💸 Currency Pairs | 45; major, minor, exotic pairs |
| 💳 Minimum Deposit | 25 USD |
| 🚫 Inactivity Fee | None |
| ✅ Affiliate Program | ✅Yes |
| ✔️ Scalping | ✅Yes |
| 📍 Hedging | ✅Yes |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fixed spreads | High spreads compared to other brokers. |
| Bonus Offers | No cent account |
Our Insights
The benefits of trading with easyMarkets include access to 24-hour customer support via live chat, email, and phone.
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 Licenses | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC |
| 📉 Ease of Use | 5/5 |
| 📊 Support Hours | 24/5 |
| 💻 Trading Platforms | eToro platform |
| 💹 Account Types | Standard Retail Account |
| 💴 Base Currencies | USD |
| 🅰️ Spreads | From 1 pip EUR/USD |
| 🅱️ Leverage | 1:400 (eToro Seychelles Ltd) |
| 💶 Currency Pairs | 55; minor, major, exotic pairs |
| 💳 Minimum Deposit | From 10 USD (US) |
| 🚫 Inactivity Fee | 10 USD after 12 months of inactivity |
| 📌 Website Languages | English, Italian, German, etc. |
| 💰 Fees and Commissions | Spreads from 1 pip, zero commission fees |
| 🤝 Affiliate Program | ✅Yes |
| ✖️ Banned Countries | Canada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria |
| 📈 Scalping | None |
| 📉 Hedging | ✅Yes |
| 📊 Trading Instruments | Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Social trading | Withdrawal Fee |
| Low trading fees | Inactivity fee |
| Negative balance protection | Conversion fees |
| User-friendly Platform | Single base currency |
Our Insights
The benefits of trading with eToro include access to social trading and Smart Portfolios.
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.
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.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | 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 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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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.
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