CFA Franc Forex Trading Accounts
Scam Forex Brokers in Cameroon
7 Best Forex Trading Platforms in Cameroon
The best Forex trading platform in Cameroon is one that will provide you with a wealth of trading tools, advanced features, and a user-friendly interface. You should also choose a trading platform that is offered by regulated brokers operating in Cameroon.
This is a complete guide to the best Forex trading platforms in Cameroon.
In this in-depth guide you’ll learn:
- What are Forex Trading Platforms?
- Which brokers are best for beginner traders?
- Which are the best Forex trading platforms in Cameroon for 2024
- How to choose the best Forex trading platform in Cameroon – Compare them side by side.
- Which broker offers a low minimum deposit to Cameroon traders?
And lots more…
So if you’re ready to go “all in” with the best-tested Forex trading platforms in Cameroon…
Let’s dive right in…
- Kayla Duvenage
7 Best Forex Trading Platforms in Cameroon – Comparison
| 🥇 Broker | 🎉 Open An Account | 💵 Minimum Deposit | 💻 Trading Platforms | 💰 XAF Deposits Allowed? |
| 1. Exness | Open Account | 10 USD / 5,983 XAF | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app | No |
| 2. AvaTrade | Open Account | 100 USD / 59,837 XAF | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade | No |
| 3. Oanda | Open Account | 0 USD / 0 XAF | MetaTrader 4, OANDA Platform, TradingView | Yes |
| 4. IG | Open Account | 0 USD / 0 XAF | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API | No |
| 5. Markets.com | Open Account | 100 USD / 59,837 XAF | MarketsX, Marketsi, MetaTrader 4, MetaTrader 5, MarketsX App | No |
| 6. Axi | Open Account | 0 USD / 0 XAF | MetaTrader 4 | Yes |
| 7. Pepperstone | Open Account | 0 USD / 0 XAF | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade | Yes |
10 Best Forex Brokers in Cameroon
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a Forex trading platform?
A forex trading platform is a software interface that currency brokers provide to their customers for them to trade in the forex markets. This could be a web-based portal, a mobile app, a separate downloadable program, or some mix of the three.
7 Best Forex Trading Platforms in Cameroon Summary
- Exness – Overall, Best Forex Trading platform.
- Avatrade – Multitude of Trading Opportunities Offered
- Oanda – Top Trading Platform for Cameroon
- IG – Best CFD Broker for Professional Traders
- Markets.com – Verified CFD Proprietary Trading Software
- Axi – Massive Range of Markets Across Several Asset Clauses
- Pepperstone – Best XAF Forex Trading Platform
1. Exness
MetaTrader 4 can be downloaded from the Exness website for Linux, Windows, Android, iOS, and MAC operating systems. Charting tools, EAs, and even a news feed are included within the platform.
Their MT4 is fast (no freezing), and it offers a lot of functions.
Exness has a high degree of trust and is regulated by a lot of reputable organisations, however, it is not regulated in Cameroon.
Overall Rating
- 4.9/5
Min Deposit
10 USD / 5,983 XAF
Regulators
FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
Trading Desk
MT4, MT5, Exness Terminal, Exness Trader app
Crypto
Yes
Total Pairs
100+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Exness is noted for the flexibility and efficiency of its account kinds, as well as providing some of the most promising trading conditions in the market.
Through the usage of electronic payment methods, traders have quick access to their deposits as well as leverage.
Exness Overview
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | Instagram, Facebook, Twitter, YouTube, LinkedIn |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💵 Minimum Deposit | 10 USD / 5,983 XAF |
| 📈 Trading Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| You can trade on a variety of devices using a variety of powerful trading apps. | There is lack of educational resources |
| Exness gives free VPS hosting | The number of tradable instruments is comparatively limited. |
| Exness is well-regulated by a number of reputable organisations | |
| Exness has some of the highest leverage ratios on the forex market | |
| Exness has customer service available 24 hours a day, seven days a week. |
2. AvaTrade
DupliTrade is a focused, transparent, and user-friendly trading tool that allows you to duplicate experienced traders’ activities right into your AvaTrade trading account.
DupliTrade takes your trading to the next level with a diverse portfolio and a range of outstanding tactics developed by experienced traders. They were chosen based on their track record and verified history.
Overall Rating
- 4.9/5
Min Deposit
100 USD / 59,837 XAF
Regulators
CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
Trading Desk
AvaTradeGO, AvaOptions, AvaSocial, MT4, MT5, DupliTrade, ZuluTrade
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
AvaTrade can be tailored to each Cameroonian trader’s specific requirements. AvaTrade, a global CFD and FX broker founded in 2006, is regulated by many agencies, including the Irish Central Bank.
AvaTrade Overview
| Feature | Information |
| ⚖️ Regulation | CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 📱 Social Media Platforms | Instagram, Facebook, Twitter, YouTube |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | Retail Account, Professional Account |
| 💻 Trading Platforms | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💵 Minimum Deposit | 100 USD / 59,837 XAF |
| 📈 Trading Assets | Forex, Stocks, Commodities, Cryptocurrencies, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Contracts for Difference (CFDs), Precious Metals |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade offers competitive trading conditions to Cameroon traders. | Cameroonians lack access to XAF-denominated accounts or local deposit and withdrawal alternatives. |
| There is an Islamic account option and a demo account. | There are also no variable spreads accessible |
| AvaTrade is reputable and has won numerous awards since its founding. | There is only one retail account, and one professional account. |
| There are more than 1,250 trading instruments available across financial markets. | Dormant accounts are subject to inactivity fees |
| There are several useful trading tools for advanced traders. | |
| There is a choice between innovative and powerful trading platforms. |
3. Oanda
An intuitive interface, a variety of technical analysis tools, a comprehensive charting package, and other features are all part of Oanda’s intuitive web trading platform. Superior trading technology makes it possible for you to respond to quickly changing prices, especially during erratic times.
With Oanda’s platform, Cameroonian traders can utilise market volatility by trading more frequently and using cutting-edge trading tools to see a glimpse of their open positions and pending orders.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4, OANDA Platform, TradingView
Crypto
No
Total Pairs
68
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Oanda is governed by several different acknowledged agencies, despite not being locally regulated by the BEAC of Cameroon. This organisation, a well-known broker and trading platform, was established in 1996.
Both inexperienced and seasoned traders can benefit from Oanda’s wide selection of indicators and charting tools.
Oanda Overview
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | Standard Account, Core Account, Swap-Free Account, Demo Account |
| 💻 Trading Platforms | MetaTrader 4, OANDA Platform, TradingView |
| 💵 Minimum Deposit | 0 USD / 0 XAF |
| 📈 Trading Assets | Index CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| OANDA is well-regulated in a number of international jurisdictions | Cameroonian traders lack access to XAF-denominated accounts |
| Oanda offers a variety of account types | Cameroonians are charged an inactivity fee, and have no local deposit or withdrawal |
| Oanda offers advanced trading tools, no minimum deposit requirements, beginner trading guides, dependable funding options, competitive spreads, and flexible and powerful trading platforms. |
4. IG
Using IG’s web trading platform, you can trade shares, trade spread bets or CFDs. Your account can be managed, cards can be registered, payments can be made, money can be withdrawn, and more.
Additionally, IG’s platform provides browser-based research tools like signals, the economic calendar, and live news.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
Trading Desk
MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Both beginner traders and seasoned market experts should choose IG. More than 17,000 distinct trading products are accessible through IG’s platform, which also offers one of the safest trading environments in the business, a wide range of account kinds, and affordable spreads.
For clients interested in CFD trading, IG is a resource. Due to its reputation as one of the most reputable brokers worldwide, it offers the best and most complete trading settings.
IG Overview
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📱 Social Media Platforms | Facebook, Twitter, YouTube, LinkedIn |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | IG Trading Account, Limited Risk Account, Islamic Account (Dubai traders only), Demo Account |
| 💻 Trading Platforms | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💵 Minimum Deposit | 0 USD / 0 XAF |
| 📈 Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Cameroon traders can use a variety of trading strategies when they join IG | A very high minimum deposit requirement |
| Islamic traders can open Islamic accounts | Only Dubai traders are eligible for the Islamic account |
| Beginners have access to the IG Academy | A small number of payment options are available for both deposits and withdrawals |
| Advanced traders can expect a variety of advanced and sophisticated trading tools | Currency conversions apply to CFA Franc deposits made by Cameroon traders |
| IG is a multi-regulated and multi-asset online broker with one of the highest trust scores in Cameroon |
5. Markets.com
Markets.com MT5 is MetaQuotes Software’s most sophisticated online trading platform. The multi-asset derivatives trading platform MT5 is used for CFD trading.
It’s an improved, quicker version of MT4 that gives Markets.com traders in Cameroon the ability to hedge and offers more technical indicators, more market depth, and a wider range of timeframes.
Overall Rating
- 4.7/5
Min Deposit
100 USD / 59,837 XAF
Regulators
ASIC, CySEC, FSCA, FCA, BVI FSC
Trading Desk
MarketsX, Marketsi, MetaTrader 4, MetaTrader 5, MarketsX App
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Low minimum deposits, a wide range of markets, and a strong selection of trading platforms compatible with many different devices have all contributed to Markets.com’s reputation.
The broker offers live chat and email service seven days a week, 24 hours a day. Markets.com is governed by several regional organisations, while not being locally controlled by the BEAC in Cameroon.
Markets.com Overview
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC, FSCA, FCA, BVI FSC |
| 📱 Social Media Platforms | LinkedIn, Facebook, Twitter, YouTube |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | MarketsX Account, Marketsi Account |
| 💻 Trading Platforms | MarketsX, Marketsi, MetaTrader 4, MetaTrader 5, MarketsX App |
| 💵 Minimum Deposit | 100 USD / 59,837 XAF |
| 📈 Trading Assets | Shares, Bonds, Cryptocurrencies, Forex, Primary CFDs, ETFs, Indices, Blends, Commodities |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Markets.com offers reliable trading solutions across a variety of devices. | No local deposit or withdrawal options are available to Cameroonian traders. |
| Markets.com is well regulated by a number of reputable organisations | Dormant accounts are subject to inactivity fees. |
| Spreads are tight and competitive | Novice traders may find the Share Dealing account’s commission structure to be very confusing. |
| There is a large selection of tradeable financial instruments | XAF cannot be set as a base account currency. XAF is not an acceptable deposit currency. |
| Markets.com guarantees client funds and offers investor protection | |
| Cameroonian traders receive devoted and prompt customer service. | |
| Commission-free trading is available | |
| Advanced traders have access to a variety of trading tools. |
6. Axi
The software from Axi Copy Trading, which is offered in collaboration with London & Eastern LLP, provides an easy way to find and automatically copy traders.
Put an end to fretting about entry levels and sitting up late watching the markets. Finding traders to mimic is the only thing you need to do when using this platform.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
ASIC, SVG, FCA, FMA, DFSA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
When you decide to replicate a successful trader, your account will immediately copy their transactions. As a result, you receive calculated trade entries with a track record of success.
To increase the effectiveness and adaptability of the services they provide, Axi works to use cutting-edge, user-friendly trading technologies. There is always a dedicated account manager on hand to help clients.
Axi Overview
| Feature | Information |
| ⚖️ Regulation | ASIC, SVG, FCA, FMA, DFSA |
| 📱 Social Media Platforms | LinkedIn, Facebook, Twitter, Telegram |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | Standard Account, Pro Account, Elite Account, Demo Account, Islamic Account |
| 💻 Trading Platforms | MetaTrader 4 |
| 💵 Minimum Deposit | 0 USD / 0 XAF |
| 📈 Trading Assets | Forex, Share CFDs, Indices, Commodities, Oil, Precious Metals, Cryptocurrency CFDs, CFDs |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Three Tier-1, one Tier-2, and one Tier-3 regulations are part of the multi-regulated Axi system. | There is a price for inactivity on your account |
| MetaTrader 4 is available on a variety of platforms and includes extensions like MyFXBook, AutoChartist, and others. | There are fees for deposits and withdrawals |
| Cameroonian traders can deposit and withdraw money in XAF and have access to regional payment processors. | The demo account is only available for 30 days |
| Axi gives new traders access to a thorough trading academy where they may pick up trading basics and hone their skills. | There is no specific trading account in XAF |
| Cameroonians who open accounts are not charged account fees. • Social trading options are available. |
7. Pepperstone
Powerful graphing, sophisticated order input and numerous customizations are all features of the user-friendly and straightforward trading platform cTrader. For direct access, Cameroonian traders can download the cTrader app.
Take advantage of quick trading, flexible scripting, cutting-edge features, and a range of charting tools and indicators. CTrader is a fantastic tool for both beginning and seasoned CFD and Forex traders.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade
Crypto
Yes
Total Pairs
90+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
It was developed by Spotware to strike a balance between basic and complicated capabilities.
Pepperstone Markets supports institutional trading of significant amounts of money and offers internet trading services to more than 170 nations. It can manage numerous order loads, channelling $8.3 billion daily and sending larger orders through a liquidity aggregator.
One of the top ten CFD and FX brokers for Cameroonian traders is Pepperstone.
Pepperstone Overview
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📱 Social Media Platforms | Facebook, Twitter, YouTube, LinkedIn |
| 🌐 BEAC Regulation? | No |
| 🔎 Trading Accounts | Standard Account, Razor Account, Professional Account, Demo Account, Islamic Account |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade |
| 💵 Minimum Deposit | 0 USD / 0 XAF |
| 📈 Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options |
| 📊 Minimum spread | From 0.0 pips |
| 💰 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone Markets is one of the largest CFD and forex brokers and offers client fund security and investor protection. | Fixed spreads are unavailable |
| Pepperstone Markets accommodates Cameroonian traders and provides local deposit and withdrawal options. | There is no XAF-denominated trading account for Cameroonian traders |
| Pepperstone Markets is well-regulated in several regions of the world. | The Islamic Account is subject to additional costs. |
| Trading platforms are available on a range of devices, and trading accounts offer competitive trading conditions. | The Islamic Account is subject to regional restrictions, and before converting their account, traders must submit confirmation of domicile. |
| Negative balance protection is offered for retail accounts, there are social trading options, and there is a robust affiliate scheme. |
How to choose the Best Forex broker in Cameroon
Cameroonian traders must evaluate the following components of a forex platform to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Cameroonians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirements, commissions and spreads, initial deposits, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Cameroonians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments that the broker offers. Cameroonians must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor and Cameroonians must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Cameroonian trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
eBooks
Trading guides
Trading knowledge on leveraged products
A risk warning on complex instruments
Educational videos
Research can include some of the following:
Trading tools
Commentary
Status of International Markets
Price movements
Market sentiments
Whether there is a volatile market
Exchange Rates
Expert opinions and several other resources can help experienced traders make informed trading decisions.
How to choose a platform for Forex trading in Cameroon
The trading platform you choose to use to conduct forex transactions will be a crucial piece of software you will rely on in your trading process if you are serious about trading in the foreign exchange market.
Overall, using an effective and user-friendly trading platform with a reliable forex broker will frequently result in higher trading profits.
You should consider aspects that can improve your trading experience while evaluating a trading platform. These could consist of the following:
Forex quotes
A trading platform with precise trading quotes for all the currency pairings you are interested in trading is what you need. To start trading promptly and properly manage your risk, you want to avoid the risk of requotes and not knowing when the market has changed.
Deal execution
Any trading platform should be able to execute transactions without the necessity of potentially expensive requotes swiftly and reliably.
Order Placement
You should be able to quickly enter any orders you might require using the platform. To prevent the execution of multiple orders for the same position, this would normally include take profits, stop losses, and trailing stops as a minimum, with an OCO or “One Cancels the Other” function as an added benefit.
The Best Forex Brokers in Cameroon
Best MetaTrader 4 / MT4 Forex Broker in Cameroon
Overall Rating
- 4.9/5
Min Deposit
10 USD / 5,983 XAF
Regulators
FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
Trading Desk
MT4, MT5, Exness Terminal, Exness Trader app
Crypto
Yes
Total Pairs
100+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, Exness is the best MetaTrader 4 broker in Cameroon. Due to its solid regulatory record with multiple authorities and high leverage ratios, Exness is a broker that many traders like to work with. Because it provides 24/7 customer support, Exness is perfect for Cameroonians.
Best MetaTrader 5 / MT5 Forex Broker in Cameroon
Overall Rating
- 4.9/5
Min Deposit
100 USD / 59,837 XAF
Regulators
CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA
Trading Desk
AvaTradeGO, AvaOptions, AvaSocial, MT4, MT5, DupliTrade, ZuluTrade
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, AvaTrade is the best MetaTrader 5 broker in Cameroon. AvaTrade, a reputable broker, provides more than 1,250 trading options in a variety of financial industries. AvaTrade offers excellent trading conditions, especially for traders from Cameroon.
Best Forex Trading Platforms for Beginners in Cameroon
Overall Rating
- 4.9/5
Min Deposit
5 USD / 2,991 XAF
Regulators
FSCA, IFSC, ASIC, CySEC, DFSA
Trading Desk
MetaTrader 4, MetaTrader 5, XM Mobile App
Crypto
Yes
Total Pairs
50
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, XM is the best forex trading platform for beginners in Cameroon. Although XM is accommodating of many different trading strategies, it is especially friendly to beginning traders. There are several resources offered by XM for researching and learning about FX trading.
Best Minimum Deposit Forex Trading Platform in Cameroon
Overall Rating
- 4.7/5
Min Deposit
5 USD / 2,991 XAF
Regulators
FSC, FSCA
Trading Desk
MetaTrader4, MetaTrader5, Alpari Mobile App
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, Alpari is the best minimum deposit forex trading platform in Cameroon. Alpari accepts deposits and withdrawals from Cameroonian traders utilising local methods. Spreads are tight and commissions are low at Alpari. Additionally, Alpari, which also has a trading app, offers Copytrade.
Best ECN Forex Trading Platform in Cameroon
Overall Rating
- 4.9/5
Min Deposit
200 USD / 119,675 XAF
Regulators
ASIC, CySEC, FSA in Seychelles, and SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader
Crypto
Yes
Total Pairs
75
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, IC Markets is the best ECN forex trading platform in Cameroon. IC Markets is one of the few ECN traders with a proven track record. In addition to accepting hedging, scalping, and a range of other trading strategies, IC Markets also offers demo accounts, accounts that adhere to Islamic law, and accounts that have low transaction costs.
Best Islamic / Swap-Free Forex Broker in Cameroon
Overall Rating
- 3.8/5
Min Deposit
20 USD / 12,000 XAF
Regulators
FSRA, FSC
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
150+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, Exinity is the best Islamic/swap-free forex trading platform in Cameroon. Exinity is well-run, has a good reputation, and offers protection against having a negative balance.
Best Forex Trading App in Cameroon
Overall Rating
- 4.7/5
Min Deposit
10 USD / 6,000 XAF
Regulators
CySec, FSC
Trading Desk
MT4, MT5, Mobile Trading
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, FXTM has the best forex trading app in Cameroon. Three live trading accounts and powerful trading tools are available from FXTM. A demo account can be created at FXTM using any trade account.
Best XAF Trading Account Forex Trading Platform in Cameroon
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade
Crypto
Yes
Total Pairs
90+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, Pepperstone is the best XAF Forex trading platform in Cameroon. Pepperstone enables Cameroonian traders to make deposits and withdrawals using local currency. In addition to the social trade components, Pepperstone also offers a comprehensive affiliate programme.
Best Lowest Spread Forex Trading Platform in Cameroon
Overall Rating
- 4.7/5
Min Deposit
100 USD / 59,837 XAF
Regulators
Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, Tickmill is the best lowest spread forex trading platform in Cameroon. Tickmill, one of the most cost-effective brokers in the market, provides a large selection of supported trading techniques. You can fund your account with Tickmill using a variety of different methods, and you can trade without paying any fees.
Best Nasdaq 100 Forex Trading Platform in Cameroon
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 XAF
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, HF Markets is the best Nasdaq 100 forex trading platform in Cameroon. HF Markets has a minimal minimum deposit requirement for accounts and a multitude of training tools for beginning traders. Leverage at HF Markets can reach a maximum of 1:1000.
Best Volatility 75 / VIX 75 Forex Trading Platform in Cameroon
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 XAF
Regulators
FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
Trading Desk
MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, IG is the best Volatility 75/VIX 75 forex trading platform in Cameroon. Cameroonian traders can enrol in the IG Academy if they are just getting started. Experienced traders have access to a variety of sophisticated trading tools.
Best NDD Forex Trading Platform in Cameroon
Overall Rating
- 4.7/5
Min Deposit
100 USD / 59,837 XAF
Regulators
ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, WebTrader, Myfxbook AutoTrade, FP Markets App
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overall, FP Markets is the best NDD forex trading platform in Cameroon. There are numerous ways to add money to and take it from FP Markets. FP Markets uses a well-known ECN price model that includes raw and tight spreads.
Conclusion
Overall traders in Cameroon should choose a Forex trading platform that is offered by a regulated Forex broker. Traders should look for a reliable trading platform that has advanced trading features and is user-friendly.
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Frequently Asked Questions
How do I choose a Forex broker for MetaTrader?
The number of tradeable securities, price, the calibre of the customer support, and any available add-ons given in addition to the standard MetaTrader experience should all be considered by traders when choosing a MetaTrader broker.
What app do most Forex traders use?
The most popular app for trading CFDs, forex, shares, and other asset classes is the MetaTrader platform suite, produced by MetaQuotes Software Corporation and accessible on mobile devices.
What platforms do professional Forex traders use?
Professional traders frequently use the platforms covered in this article, including MT4, MT5, cTrader, NinjaTrader, and TradingView.
Can I use my phone for Forex trading in Cameroon?
Yes. These days, a smartphone and a mobile forex trading app can be used to trade forex. These applications offer more than just the ability to trade while on the go.
What is the secret to successful Forex trading in Cameroon?
You need to be able to do in-depth research and perform precise market analysis to be a successful trader.
