The 6 Best Forex Brokers in Benin– Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Benin.
In this in-depth guide, you will learn:
and much, MUCH more!
6 Best Forex Brokers in Benin – A Comparison
6 Best Forex Brokers in Benin (2024)
- ☑️ eToro – Overall, the Best Forex Broker in Benin
- ☑️ IC Markets – Best Forex Broker for Beginners
- ☑️ OANDA – Excellent Overall Offering
- ☑️ AvaTrade – High User Trust Score
- ☑️ Admirals – Leading MetaTrader Forex Broker
- ☑️ Pepperstone – Best Online Trading Experience
eToro
eToro is a well-established social trading and multi-asset investment company. Regulations include CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, SIPC. A Standard Account is offered. The minimum deposit is 10 USD. Notable Features include:
- Access to Copy Trading
- Over 55 Currency Pairs, including Major, Minor, and Exotic
- Spreads from 1 Pips
- A Leverage of up to 1:400
The Trading Platform offered is Proprietary. Trading Instruments include Forex, Stocks, Crypto CFDs, Indices, Commodities, and, ETFs.
Pros and Cons
Our Insights
The Benefits of trading with eToro include excellent educational resources and an award-winning trading platform.
IC Markets
IC Markets is a powerful Forex and CFD Broker. Regulations include ASIC, CySEC, FSA, and, the SCB. Accounts offered are cTrader, Raw Spread, and, Standard. The minimum deposit is 200 USD. Notable features include:
- 24/7 Customer Support
- Multiple Copytrading Platforms
- Leverage of up to 1:500
- No Inactivity Charged
Trading Instruments include Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, and, Futures. Trading Platforms available are MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, and, ZuluTrade.
Pros and Cons
Our Insights
IC Markets best suits Experienced Traders as a High Minimum deposit is required. Moreover, Active Traders will benefit from a large selection of Trading Platforms.
OANDA
OANDA is a highly regulated and well-established Forex Broker. Regulations include IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and, BVI FSC. Standard, Core, Swap-Free, Premium, and Premium Core are the accounts offered. No minimum deposit is required. Notable features include:
- Spreads from 0.1 Pips
- Scalping and Hedging
- Affiliate Programme
Trading Instruments include Forex, Indices, Commodities, Metals, Shares, Energies, and, Cryptocurrencies. Trading Platforms include FxTrade, MetaTrader 4, and, MetaTrader 5. Moreover, a Proprietary Mobile App is available.
Pros and Cons
Our Insights
OANDA best suits Experienced Traders as Trading is not Commission Free and an Inactivity Fee is charged.
AvaTrade
AvaTrade is one of the highest-regulated and most trusted Forex and CFD Brokers. Regulations include ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, JFSA. Accounts offered are Retail, Islamic, and, Professional. The minimum deposit is 100 USD. Notable Features include:
- Access to an Affiliate Program
- Spreads from 0.6 Pips
- A Leverage of up to 1:400 on the Pro Account
Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. Trading Platforms available are AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, and, ZuluTrade.
Pros and Cons
Our Insights
AvaTrade best suits Established traders who will be able to benefit from the wide variety of Trading Platforms on offer. Moreover, an Inactivity Fee is charged. However, Trading with AvaTrade is commission free.
Admirals
Admirals or Admiral Markets, is a established and trusted Financial Services Provider. Regulations include FCA, ASIC, CySEC, JSC, FSCA, FSA, and, the CMA. Accounts offered are Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, and, Bets.MT5. The Minimum deposit is 25 USD. Notable Features include:
- Access to over 80 Currency Pairs
- Spreads from 0.0 Pips
- Scalping and Hedging
Trading Instruments include ESG, Forex, Crypto CFDS, Indices, Stocks, ETFs, and, Bonds. Trading Platforms available are MetaTrader 4 and MetaTrader 5. Moreover, a Proprietary Mobile App is available.
Pros and Cons
Our Insights
Admirals suit all traders. Benefits include excellent educational resources and dedicated customer support.
Pepperstone
Pepperstone is a popular, well-established, highly-regulated Forex and CFD Broker. Regulations include ASIC, BaFin, CMA, CySEC, DFSA, FCA, and, the SCB. Accounts offered are Standard and Razor. The Minimum deposit is AU$ 200. Notable features include:
- Spreads from 0.0 Pips
- Multilingual Website Option
- No Inactivity Fee
Trading Instruments include Forex, Commodities, Indices, Currency indices, Cryptocurrencies, Shares, and, ETFs. Trading Platforms available are TradingView, MetaTrader 4, MetaTrader 5, cTrader, and, Capitalise.ai.
Pros and Cons
Our Insights
Pepperstone best suits Established and Active Traders as the minimum deposit is High. Moreover, Professional Traders will benefit from the wide selection of Trading Platforms on offer.
Is Forex Trading Legal in Benin?
Forex Trading in Benin is Legal and Highly Regulated.
Who Regulates Forex Trading in Benin?
Forex Trading in Benin is Regulated by the Central Bank of West African States and administered by the West African Economic and Monetary Union the country belongs to.
In Conclusion
Forex Trading in Benin is Legal and Regulated by the Central Bank of West African States and administered by the West African Economic and Monetary Union the country belongs to.
Our Insights
While reviewing the Best Forex Brokers that accept Beninois Traders, we found 6 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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Read More:6 Best Forex Brokers in Benin ☑️ Updated 2024*
2024-05-19 21:25:35