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08.10.2021 Business Features

5 Best Forex Brokers in Ghana

5 Best Forex Brokers in Ghana
LISTEN OCT 8, 2021

Forex trading has exploded across many African countries in the past few years, with many forex traders emerging in global financial markets, more forex brokers have started accommodating these traders.

Ghanian traders may feel overwhelmed when they consult lists of brokers to find the right one that meets and exceeds their trading needs and objectives. For this reason, we have compiled a comprehensive list of the best forex brokers in Ghana right now that offer some of the best trading conditions.

AvaTrade

Features

AvaTrade is one of the most reputable brokers in the industry that offers a plethora of trading opportunities through several innovative trading platforms. AvaTrade is well-regulated and offers a safe, fair, and transparent trading environment in which Ghanian traders can grow and thrive, exploring what the financial markets offer.

AvaTrade offers more than 1,250 financial instruments that are spread across several asset classes, giving traders the chance to build a diversified investment portfolio. AvaTrade is known to offer competitive trading conditions with tight, fixed spreads, commission-free trading, decent leverage, and a choice in trader education and research materials and tools.

Pros and Cons

PROS CONS
Multi-regulated in several areas Variable spreads are not offered
Multi-award-winning broker with a good reputation Limited account types offered
Commission-free trading offered
Fixed spreads offered

Exness

Features

Exness is a well-established broker that has been in operation since 2008, offering a wide range of financial instruments that can be traded through some of the most powerful trading platforms in the industry, namely MetaTrader 4 and MetaTrader 5.

Ghanian traders have a choice between several different investor account types, each with unique features to suit different traders based on their trading experience, differing trading styles, and trading strategies.

Exness also offers a wide range of trading tools that traders can use to refine and improve their trading, helping them make improved and informed trading decisions in their trading journey.

Pros and Cons

PROS CONS
Well-regulated by several entities Limited tradable instruments
Low minimum deposit required
MetaTrader offered
Negative balance protection is applied to retail accounts

You might like: Your First Step To Becoming A Forex Trader In Ghana

XM

Features

XM is a well-regulated and large CFD and forex broker that has over 2.5 million registered traders from 196 countries, with an active trading population in African countries. XM is a popular choice amongst Ghanian traders because of its comprehensive trading solutions.

XM offers some of the best trading conditions in the industry, with tight and variable spreads, low commissions from $1, negative balance protection which is applied on retail accounts, and access to a choice between several retail accounts, giving Ghanian traders flexible solutions that they can customise according to their unique needs and trading objectives.

XM offers a wide range of tradable instruments through Contracts For Difference, allowing traders to speculate on price movements of financial instruments without traders taking physical ownership of the underlying asset.

Pros and Cons

PROS CONS
Well-regulated by reputable market regulators Fixes spreads are not offered
A choice in flexible and powerful trading platforms Inactivity fees are charged on dormant accounts
Flexible and secure funding options offered
Range of trading strategies allowed
Zero fees on deposits/withdrawals
Supports more than 30 different languages

OctaFX

Features

OctaFX is a popular and well-regulated ECN and STP broker that offers flexible account types that suit different types of traders. Ghanian traders are given access to a wide range of tradable instruments spread across forex and CFD markets, with competitive fees that attract a lot of retail investors and traders.

OctaFX is also known for offering commission-free trading, innovative proprietary Copytrading app, negative balance protection on accounts, and a choice in different useful trading tools.

Pros and Cons

PROS CONS
Well-regulated and reputable Limited tradable instruments
Allows a range of trading strategies
Fixed and variable spreads offered

HotForex

Features

HotForex is a well-regulated and reputable broker and the trading arm of HF Markets, offering Ghanian traders a wide range of tradable instruments spread across cryptocurrencies, stocks, shares, indices, and several others.

There are more than 1.5 million registered traders and apart from offering competitive trading conditions, HotForex also offers dedicated customer support, flexible trading accounts, and reliable funding options.

Pros and Cons

PROS CONS
Multi-regulated Fixed spreads are not provided
Educational materials offered
Commission-free trading offered
Premium trading tools offered

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