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17 Best Forex Brokers in Chad

17 Best Forex Brokers in Chad

 

Forex Brokers Chad

 

Finding the list of the Best Forex Brokers in Chad and worldwide can be a difficult process, especially finding a list of trustworthy brokers who accept Chadian traders and who allow these traders to invest in their currency, the Chadian franc (FCFA).

Online Forex trading in Chad may not yet be as popular as it is in other neighboring African countries, yet, traders in Chad have recently increased in numbers.

 

Here are our 10 Best Handpicked Forex Brokers in Chad

 

Although the Chad government has not made any real attempts at reforming its regulatory structure in order to integrate and accommodate Forex trading, Forex trading is 100% legal, and multiple globally regulated Forex Brokers do offer their services to traders situated in this country.

Here is an overview of the 17 Best Forex Brokers and Trading Platforms that offer their services to traders based in Chad.

 

Pepperstone broker review

 

Pepperstone

 

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).

Pepperstone offers traders a variety of trading accounts to choose from including Razor, Standard and Swap-Free, and –

 

Boasts three top forex trading platforms:

 

  • MetaTrader 4: Most Popular for Forex Trading
  • MetaTrader 5: Most Popular CFDs Trading Platform
  • cTrader: Best Automated Trading Platform

 

All three FX trading platforms come with a free demo account which will allow Nigerian traders to test out the forex broker and platform for 30 days.

 

Platform enhancements available for Pepperstone include:

 

  • MetaTrader 4 smart trader tools
  • cTrader Automate
  • Autochartist and
  • API trading

 

A range of options for depositing funds is available, including Bank wire transfer, MasterCard, Visa credit card, PayPal, Neteller, Skrill and QIWI.

Pepperstone offers 24/5 multiple language support via email, phone, and live chat.

 

You might like: Learn more about online forex courses.

 

XM broker review

 

XM

 

Leverage:                            1:30 to 1:888 *Depends on the entity of the group

Regulation:                         CySEC, ASIC, IFSC

Min. Deposit:                    USUS Dollar 5

HQ:                                        Cyprus, Australia, Belize

Platforms:                           MT4, MT5, XM WebTrader

Founded in:                        2009

 

XM operates with clients from over 196 countries and offers support in 30 languages. The main branch located in Cyprus is regulated by CySEC.  1.5 Million Traders and investors choose XM and their wide range of XM trading products on offer.  Four main account types are on offer – Micro, Standard, XM Ultra-Low Account and Shares Accounts.  Traders can select the base currency of their preference from a large selection on offer. This range includes South African Rand (ZAR), Singapore Dollar (SGD) and other global currencies.

Customer Support is available via live chat, email and phone.

 

FBS broker review

 

FBS

 

FBS is a Forex and CFD broker which is authorized and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC). FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies on the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms for PC, Mac, Web, Android and iOS with a maximum 1:3000 leverage, copy trading services and a range of bonus promotions.

Five different trading accounts are available – Cent, Micro, Standard, Zero Spread and ECN. Each account offers different features and benefits respectively. A demo trading and swap-free accounts are also available.

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

 

FXTM broker review

 

ForexTime (FXTM)

 

FXTM was established in 2011 to offer Forex and CFDs and is highly regulated by the FSC of The Republic of Mauritius, the FCA of the UK, CySEC and licensed by FSCA of South Africa.

Standard and ECN Accounts are available with several subtypes. Under the Standard account, they offer the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zero account, FXTM Pro account and the ECN account. ECN accounts can be traded on MT4 and MT5.

FXTM offers Local NGN Funding, through bank wire transfer or Neteller with a minimum deposit of US Dollar 100 for a standard forex account. This allows traders to start trading a range of currency markets while lowering the exchange costs when moving NGN currency to a standard base currency.

Customer support is available in 17 Languages via Live Chat, Phone, Telegram, Facebook and Twitter.

 

eToro broker review

 

eToro

 

eToro is an online broker that was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of US Dollar 200 and the platform can accommodate various levels of traders from beginner to expert.  Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

eToro trading accounts on offer include Demo, Micro, Mini, Standard, STP and Islamic.  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.  24/6 customer support is available via telephone and support ticket.

 

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FP Markets broker review

 

FP Markets

 

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of US Dollar 100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

 

FP Markets Trading benefits include:

 

 

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

Customer Service is available via email, phone and live chat.

 

Read 27 Best Forex Brokers in Cape Verde

 

RoboForex broker review

 

Roboforex

 

Roboforex are an online, global broker that was founded in 2009 and offers traders Forex and CFDs trading.  RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

When starting off with Roboforex traders will need to make a minimum deposit of US Dollar 1 and there is an option available for a demo account for those who would like to get acquainted with the platform.  Roboforex can accommodate various levels of traders, from experienced to beginner, and they can trade a wide variety of instruments and currency pairs.  Roboforex offers over 100 instruments and over 35 currency pairs in total.

Roboforex offers traders both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.   Roboforex also offer mobile apps for Android and iOS.

 

Roboforex Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

 

Roboforex Trading Accounts include – Demo, Micro, Mini, Standard, Zero, ECN, STP and Islamic.

Customer support is available via phone, Webchat, Wechat, Skype, Viber, Telegram, Facebook chat, WhatsApp, email and a call-back request.

 

OctaFX broker review

 

OctaFX

 

OctaFX is a Forex ECN broker registered by CySEC in St. Vincent and the Grenadines and offers the option to trade on Forex, Indices, Metals and Cryptocurrencies via CFDs, across the MetaTrader and cTrader suite of trading platforms as well as their own OctaFX Trading App.

Three main types of trading accounts are on offer – MetaTrader 4 Micro, MetaTrader 5 Pro and cTrader ECN. OctaFX also offers Copy Trading accounts, a swap-free account and demo trading accounts. OctaFX offers 24/5 customer support via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

 

IQ Option broker review

 

IQ Option

 

IQ Option is a forex & binary options broker with offices based in the UK, Cyprus, and Seychelles, and regulated by the FCA and CySECIQ Option offers traders three trading account to choose from, Retail, Professional and Demo.

IQ Option offers the following underlying assets for FX trading.

 

90+ Currency Pairs Based on major and minor world currencies.
17 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.
5 Indices CFDs Based on baskets of different blue-chip stocks.
3 Metal CFDs Based on Gold, Silver and Platinum.
2 Energy CFDs Based on Crude Oil (WTI, Brent).
1 Soft CFD Based on Wheat.
130+ Stock CFDs Based on shares of US, UK and EU companies.
28+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

 

IQ Option offers the following underlying assets for Binary Options trading (unfortunately, not available for EU residents).

 

30+ Currency Pairs Based on major and minor world currencies.
2 Indices BOs Based on DFMGI, TelAviv-25.
2 Metal BOs Based on Gold and Silver.
20+ Stock BOs Based on shares of US companies.

 

Payment methods accepted include all the usual options like VISA, MasterCard, Skrill and Neteller, plus a range of other online money transfer services, including AstroPay, Qiwi, and WebMoney.  IQ Option’s trading platform is web-based and supports both binary options and forex & CFD trading within the same user interface.

Customer support is available 24/7 via email and local phone numbers in 13 countries.

 

A review about AvaTrade

 

AvaTrade

 

AvaTrade is an online broker founded in 2006 offering Forex trading, CFDs trading, Spread Betting trading, and Social Trading.

 

 

  • Regulated by: Central Bank of Ireland, Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Financial Stability Board (FSB), British Virgin Islands Financial Services Commission (BVI)
  • Headquarters: The British Virgin Islands
  • Foundation year:2006
  • Used: by over 200,000 traders

 

Across all markets, MetaTrader 4 gives traders access to over 250 assets, 30 advanced charting tools, trading history, and other useful information.  Customer support is available by email, phone, or live chat.

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FxPro broker review

 

FXPro

 

FXPro is an online broker that was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies tradingFXPro is a global broker with a head office located in the UK. FxPro is regulated by CySEC and operates under the CIF license number 078/07. As a CySEC regulated brokerFxPro is also a member of the Investor Compensation Fund scheme.

FXPro provides traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of US Dollar 100.

 

What can be traded with FXPro?

 

  • Over 250 instruments
  • Over 70 currency pairs

 

FXPro is one of the few brokers in the market that offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

 

FXPro Trading benefits include:

 

 

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument chosen.

FxPro offers customer support 24 hours a day, 5 days a week via Live Chat, Telephone and Email in a variety of different languages including English, Spanish, French, Polish, Malay, Arabic, Chinese, Greek, Hungarian, Japanese, Korean, Russian, Thai, Vietnamese, Indonesian and others.

 

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Tickmill broker review

 

Tickmill

 

Tickmill is a Forex and CFD broker with licenses from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA). Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader 4 trading platform for Windows, Mac, Web, Android and iOS.

Three main trading accounts called the Pro Account, Classic Account and VIP Account are on offer, each which offers different minimum balances, maximum leverage, spreads and commissions respectively. Demo trading and Islamic swap-free accounts are also made available.

Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.

 

Read 27  Best Forex Brokers in Tanzania 

 

Exness broker review

 

Exness

 

Exness is authorized by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks, and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Exness offers traders 5 different trading accounts to choose from. Standard Accounts include the Standard and Standard Cent. Professional Accounts include Raw Spread, Pro and Zero. Demo accounts and Islamic swap-free accounts are also available.  Exness offers over 105 different instruments to trade, including over 103 currency pairs.

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

 

HotForex broker review

 

HotForex

 

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

The HotForex MT5 Terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.

The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Hotforex’s Metatrader offers a fast order execution, news feed, multiple order types, support for EAs.

 

Key features include:

 

  • Supports:  MT4, MT5 for desktop, web & mobile
  • Minimum deposit:  US Dollar 5
  • Leverage:  1:1000
  • Trading Instruments:  Forex, Cryptocurrencies, CFDs on Stock Indices, Commodities, metals

 

Customer support is available via phone and email.

 

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FXCM broker review

 

FXCM

 

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorized and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinaTrader and ZuluTrade.

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.

Customer Support is available via Live Chat, Phone, Email and SMS.

 

BDSwiss broker review

 

BDSwiss

 

BDSwiss is a Forex and CFD broker which offers over 250 instruments to trade on covering Forex, Commodities, Cryptocurrencies, Indices and Equities, from 3 account types on the MetaTrader 4 and MetaTrader 5 platform. BDSwiss is well regulated by CySEC and offers traders 3 types of accounts – BasicRaw, and Black VIP. These accounts come with a minimum deposit of US Dollar 100 accept the Raw account which has a monthly subscription fee of between US Dollar 1 and US Dollar 79.

BDSwiss offers both full demo and Islamic accounts are available and traders can fund their account through wire transfer deposits as well as through credit card and deposits which are fee free in most cases.

BDSwiss offers multilingual customer support 24/5 via Live Chat, Telephone, Email, Call Back, WhatsApp, Telegram and an FAQ section.

 

Swiss Markets broker review

 

Swiss Markets

 

Swiss Markets is a forex broker that operates out of the two offshore jurisdictions Mauritius and Seychelles, but not Switzerland as the name would suggest. Even though Swiss Markets is based offshore it is still regulated by the relevant government agencies in the two countries, the Seychelles Financial Services Authority (SFSA) and the Financial Services Commission (FSC) of Mauritius.

For traders who want to trade in wide selection of assets, Swiss Markets offers trading in over 50 currency pairs and stocks of about 130 American and European companies to choose from. In addition to this, stock indices, various commodities, and popular cryptocurrencies are also on offer.

Trading Instruments available include:

 

50+ Currency Pairs Based on major and minor world currencies.
6 Crypto Pairs Based on Bitcoin, Ethereum, Litecoin.
12 Indices CFDs Based on baskets of different blue-chip stocks.
4 Metal Spot CFDs Based on Gold, Silver and Platinum.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
130+ Stock CFDs Based on shares of US, UK and EU companies.

 

Swiss Markets offers traders the MetaTrader 4 (MT4) platform plus a multitude of different account types to choose from, depending on how much capital is deposited and how often trades are made.

 

Accounts to choose from include:

 

  • Classic STP Account
  • Raw STP – Swiss11
  • Raw STP – Swiss8
  • Raw STP – Swiss5

 

All trading accounts can be opened in either EUR, USD, GBP, CHF, or PLN as the base currency and can be funded with payment cards like Visa or MasterCard, bank wire transfer, or e-wallet platforms like Skrill, Neteller, Sofort, and iDeal, and more. Customer service is offered via local phone lines with local language support in English, Spanish, German, and Greek plus live chat.

 

Read 27  Best Forex Brokers in Namibia 

 

In conclusion

 

There are thousands of Forex brokers around the world, and South African residents can register and trade with each of them. Traders are advised to stick to brokers regulated by the FSCA – Financial Services Conduct Authority of Chad formerly known as the FSB.

Many Forex brokers may appear similar but there are understated differences that make each broker uniquely suitable for a different type of trader.

 

FAQ’s

 

Is forex trading legal in Chad?

Yes, it is

Which is Chad’s most used forex broker?

XTB

Is forex trading a gamble in Chad?

Forex trading anywhere is always a gamble.

How many forex traders are there in Chad?

The estimate is around 150 000 monthly forex traders.

Can you make money with forex trading in Chad?

75% of all traders lose money*

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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