Best Forex Brokers in Cameroon in 2021

Best Forex Brokers in Cameroon in 2021

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The Republic of Cameroon, or just Cameroon, is a West-central African country with a population of more than 26 million and a GDP of $101 billion, with thousands of active forex traders who partake in the forex market daily.

Forex Brokers in Cameroon include those who serve in several other West African countries, and they are active forex brokers in many other global regions. These brokers are:

  1. FP Markets
  2. FXCM
  3. FXTM
  4. IC Markets
  5. easyMarkets
  6. RoboForex
  7. eToro

 

1. FP Markets

FP Markets is a forex broker that was founded in 2005 and is headquartered in Australia. FP Markets is a regulated broker with regulation and authorisation through ASIC, CySEC, and FSA SVG.

FP Markets was founded by Matthew Murphie and the CEO is Nick Twidale, who has held the position for the past 8 months. According to official sources, the staff size for FP Markets is between 50 and 100 employees.

In terms of deposit rates and fees, FP Markets charges a minimum deposit of AU$100 with spreads from 0.0 pips EUR/USD and commission charges from $3 per $100,000 traded.

In terms of trade execution speed, FP Markets executes all orders within a few seconds. In terms of security features, FP Markets is a reliable forex broker with a secure trading environment and trading platform.

In terms of tradable financial instruments, FP Markets offers the following:

  • Equities
  • CFDs
  • Forex
  • Commodities
  • Indices
  • Cryptocurrency
  • Metals
  • Energies

 

In terms of currency types, FP Markets supports the following currencies:

  • USD
  • EUR
  • GBP
  • AUD, and more.

 

In terms of trading software, FP Markets offers forex traders the following applications:

  1. IRESS Trading Platform
  2. MetaTrader 4
  3. MetaTrader 5

 

In terms of research and education, FP Markets offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Traders Hub
  2. Copytrading
  3. AutoChartist
  4. Trader Toolbox
  5. Forex VPS
  6. MAM/PAMM

 

In terms of customer support, FP Markets can be contacted through the following channels:

  • Facebook
  • Email
  • Live chat
  • Twitter
  • Instagram
  • LinkedIn
  • Telephone

 

In terms of the service area, FP Markets serves traders from around the world except for traders from these regions:

  • Japan
  • New Zealand
  • United States

 

When compared to other forex brokers, FP Markets offers the following unique sides and features:

  • A secure trading environment that is protected by advanced technology and security features
  • Low commission charges that are charged according to trading volume
  • A choice between three powerful trading platforms namely MetaTrader 4, MetaTrader 5, and IRESS
  • A wide selection of tradable financial instruments

 

FP Markets is an active forex broker in Cameroon with more than 200 registered users. In terms of market share, FP Markets has a solid position in the region despite competition.

In terms of privileges that FP Markets offers to citizens from Cameroon, citizens are not provided with any privileges. The reason why so many forex traders use FP Markets in Cameroon relates to its safe trading environment, powerful IRESS trading platform and range of trading tools.

To get more information, you can read the FP Markets Forex Suggest review.

 

2. FXCM

FXCM is a forex broker that was founded in 1999 and is headquartered in the United Kingdom. FXCM is a regulated broker with regulation and authorisation through the FCA, FSCA, CySEC, and ASIC.

Drew Niv is the founder of FXCM, and the CEO is Brendan Callan, who has held the position for the past four years. The average daily trading volume for FXCM is $3.8 billion, according to trusted sources. According to official sources, the staff size for FXCM is between 500 and 1 000 employees.

In terms of deposit rates and fees, FXCM charges a minimum deposit of $50, and the spreads charged start from 0.2 pips EUR/USD, with commissions from $0.10 per lot.

In terms of trading speed, FXCM fills 87% of clients orders within 0.032 seconds. In terms of trust and security, FXCM is known for ensuring client fund security and a safe trading environment.

In terms of tradable financial instruments, FXCM offers the following:

  • Forex
  • Commodities
  • Cryptocurrencies
  • Indices

 

In terms of currency types, FXCM supports the following currencies:

  • USD
  • EUR
  • GBP
  • CHF
  • JPY
  • NZD
  • CAD
  • AUD

 

In terms of trading software, FXCM offers forex traders the following applications:

  1. Trading Station
  2. MetaTrader 4
  3. NinjaTrader
  4. ZuluTrade
  5. TradingView
  6. Capitalise AI

 

In terms of research and education, FXCM offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. MT4 VPS
  2. Live Forex Charts
  3. Economic Calendar
  4. FXCM Plus
  5. FXCM Apps
  6. Market Scanner, and several others.

 

In terms of customer support, FXCM can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Twitter

 

In terms of the service area, FXCM serves traders from around the world except for traders from these regions:

  • The United States
  • Ukraine
  • Turkey
  • Russia
  • Iran, and several other regions.

 

When compared to other forex brokers, FXCM offers the following unique sides and features:

  • A good reputation as a trusted, well-regulated broker
  • Competitive commission charges
  • Powerful trading software
  • A wide range of tradable instruments

 

FXCM is an active forex broker in Cameroon with more than a few hundred registered users. In terms of market share, FXCM is a popular name in the region.

In terms of privileges that FXCM offers to citizens from Cameroon, there are no privileges offered. The reason why so many forex traders use FXCM in Cameroon relates to its comprehensive trading conditions and trading solutions catering for professionals and beginners.

To get more information, you can read the FXCM Forex Suggest review.

 

3. FXTM

FXTM is a forex broker that was founded in 2011 and is headquartered in Mauritius. FXTM is a regulated broker with regulation and authorisation through FCA, CySEC, FSCA, FSC.

Andrey Dashin and Olga Rybalkina are the founders of FXTM with Olga as the CEO. FXTM has an average daily trading volume of $3.6 billion. 

In terms of users, there are more than 3 million forex traders registered with FXTM according to trusted sources. According to official sources, the staff size for FXTM is 782 employees.

In terms of deposit rates and fees, FXTM charges a minimum deposit of $10 and the spreads that are charged will start from as low as 0 pips, with commissions from $2.

In terms of trading speed, FXTM executes all orders within 0.068 seconds. In terms of security features, FXTM is a reliable forex broker that works with transparency and can guarantee client fund security through fund segregation.

In terms of tradable financial instruments, FXTM offers the following:

  • CFDs on commodities
  • CFDs on indices
  • Spot Metals
  • Stock CFDs
  • Stocks
  • Forex

 

In terms of currency types, FXTM supports the following currencies:

  • USD
  • EUR
  • GBP
  • IDR
  • MYR
  • NGN
  • ZAR

 

In terms of trading software, FXTM offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5
  3. FXTM Trader

 

In terms of research and education, FXTM offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Daily market analysis
  2. Podcasts
  3. Economic Calendar
  4. Forex News Timeline
  5. Market Analysis, and others.

 

In terms of customer support, FXTM can be contacted through the following channels:

  • Telephone
  • Live Chat
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Instagram
  • Telegram

 

In terms of the service area, FXTM serves traders from around the world except for traders from these regions:

  • Haiti
  • Suriname
  • Democratic Republic of Korea
  • Puerto Rico
  • Occupied Area of Cyprus
  • United States
  • Mauritius
  • Japan, and several others.

 

When compared to other forex brokers, FXTM offers the following unique sides and features:

  • A well-regulated trading environment where funds are kept in segregated accounts with top-tier banks
  • Low commission charges from $2
  • A choice between proprietary trading software, MetaTrader 4, and MetaTrader 5
  • A wide range of trading instruments spread across several asset classes

 

FXTM is an active forex broker in Cameroon with more than 500 registered users. In terms of market share, FXTM is a well-known brand in the region. In terms of privileges that FXTM offers to citizens from Cameroon with a demo account, education, and dedicated customer support.

The reason why so many forex traders use FXTM in Cameroon relates to its range of trading tools and competitive trading conditions.

To get more information, you can read the FXTM Forex Suggest review.

 

4. IC Markets

IC Markets is a forex broker that was established in 2007 with headquarters in Australia. IC Markets is a regulated broker with regulation and authorisation through SCB, ASIC, and CySEC.

Andrew Budzinski is the founder and the CEO of IC Markets, and the forex broker has an average daily trading volume of more than $18.9 billion.

In terms of staff size, there are 260 employees for IC Markets to date. In terms of deposit rates and trading fees, IC Markets charges a minimum deposit of $200 with tight spreads from 0.0 pips and commissions that start from as little as $3.

In terms of trade execution speed, IC Markets executes all orders within seconds and guarantees high liquidity. In terms of the trust, IC Markets is a trusted and well-regulated broker that uses the latest technological software.

In terms of tradable financial instruments, IC Markets offers the following:

  • Forex
  • Commodities
  • Cryptocurrency
  • Stocks
  • Shares
  • Indices
  • Metals
  • Energies
  • Bonds
  • CFDs

 

In terms of currency types, IC Markets supports the following currencies:

  • USD
  • JPY
  • EUR
  • GBP
  • CAD, and several others.

 

In terms of trading software, IC Markets offers forex traders the following applications:

  1. cTrader
  2. MetaTrader 4
  3. MetaTrader 5

 

In terms of research and education, IC Markets offers forex traders these useful trading tools:

  1. Forex Glossary
  2. Trading Knowledge
  3. Video Tutorials
  4. WebTV
  5. Webinars, and a few others.

 

In terms of customer support, IC Markets can be contacted through the following channels:

  • Email
  • Live Chat
  • Telephone
  • Social Media and several Online Messaging apps

 

In terms of the service area, IC Markets serves traders from around the world except for traders from these regions:

  • The United States
  • Iran
  • Yemen
  • Canada

 

When compared to other forex brokers, IC Markets offers the following unique sides and features:

  • A safe trading environment where client funds, information, and data is protected
  • Ultra-low commissions from $3
  • A choice between cTrader, MetaTrader 4, and MetaTrader 5
  • A large portfolio of tradable financial instruments 

 

IC Markets is an active forex broker in Cameroon with more than 100 registered users. In terms of market share, IC Markets has a decent portion due to its user-friendly trading solutions. 

In terms of privileges that IC Markets offers to citizens from Cameroon, citizens who start trading can expect the best education and access to a demo account.

The reason why so many forex traders use IC Markets in Cameroon relates to its range of tradable instruments, customer support, and powerful trading software.

To get more information, you can read the IC Markets Forex Suggest review.

 

5. easyMarkets

easyMarkets is a forex broker that was founded in 2001 and is headquartered in Cyprus. easyMarkets is a regulated broker with ASIC, CySEC, and FSA in Seychelles.

The CEO for easyMarkets is Nikos Antoniades, who has held the position for the past 13 years and 7 months. The average daily trading volume for easyMarkets exceeds  $3.2 billion.

In terms of the number of registered users, there are more than 140,000 forex traders registered with easyMarkets and according to official sources, the staff size for easyMarkets is 100 to 250 employees.

In terms of deposit rates and fees, easyMarkets charges $100 and the spread that forex traders can expect starts from 0.9 pips, with the benefit of commission-free trading.

In terms of trading speed, easyMarkets guarantees fast and reliable trade execution in seconds. In terms of the trust and security, easyMarkets is well-known as a trusted broker that keeps client funds segregated and uses robust security software on its website and trading platform.

In terms of tradable financial instruments, easyMarkets offers the following:

  • Forex
  • Commodities
  • Cryptocurrencies
  • Stocks
  • Shares
  • Indices
  • Metals
  • Energies
  • Options
  • Bonds
  • CFDs
  • ETFs

 

In terms of currency types, easyMarkets supports the following currencies:

  • USD
  • GBP
  • EUR
  • CAD
  • AUD, and others.

 

In terms of trading software, easyMarkets offers forex traders the following applications:

  1. easyMarkets WebTrader
  2. easyMarkets MetaTrader 4

 

In terms of research and education, easyMarkets offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. dealCancellation
  2. Inside Viewer
  3. Freeze Rate
  4. Market Explorer
  5. Live Rate Graphs
  6. eBooks
  7. Articles
  8. Glossary, and others.

 

In terms of customer support, easyMarkets can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Viber
  • WhatsApp

 

In terms of the service area, easyMarkets serves traders from around the world except for traders from these regions:

  • Iraq
  • The United States
  • Israel
  • Iran

 

When compared to other forex brokers, easyMarkets offers the following unique sides and features:

  • A well-regulated and transparent trading environment
  • The advantage of commission-free trading
  • The use of MetaTrader 4
  • A wide range of financial instruments from different asset classes

 

easyMarkets is an active forex broker in Cameroon with more than 500 registered users. In terms of market share, easyMarkets is a very popular forex broker in the region.

In terms of privileges that easyMarkets offers to citizens from Cameroon, citizens can expect user-friendly trading software and the necessary education to start trading forex.

The reason why so many forex traders use easyMarkets in Cameroon relates to its commission-free trading and competitive trading conditions.

To get more information, you can read the easyMarkets Forex Suggest review.

 

6. RoboForex

RoboForex is a forex broker that was founded in 2009 in Belize. RoboForex is a regulated broker with regulation and authorisation through IFSC. The CEO for RoboForex is Rudolph Simmons, who has held the position for more than 5 consecutive years. 

The market capitalization for RoboForex is not known, but the forex broker experiences more than $4.3 billion traded daily. In terms of users, there are more than 730,000  forex traders registered with RoboForex according to trusted sources.

According to official sources, the staff size for RoboForex is between 500 and 1,000 employees.

In terms of deposit rates and fees, RoboForex charges a minimum deposit of $10, and the spread starts from 0.0 pips, with commission charges from as little as $0.0045.

In terms of trading speed, RoboForex executes all orders in 150 to 400 milliseconds. In terms of security, RoboForex has a safe trading environment protected by strict regulations and innovative technologies.

In terms of tradable financial instruments, RoboForex offers the following:

  • Forex
  • Commodities
  • Cryptocurrency
  • CFDs on stocks
  • CFDs on shares
  • CFDs on indices
  • Metals
  • Energies
  • ETFs

 

In terms of currency types, RoboForex supports the following currencies:

  • EUR
  • USD
  • PLN
  • CNY
  • MYR
  • IDR
  • AED, and several others.

 

In terms of trading software, RoboForex offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5
  3. RoboForex R Trader
  4. cTrader

 

In terms of research and education, RoboForex offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Forex Analysis and Forecasts
  2. RoboForex Analytics
  3. Economic calendar
  4. Trading Tips
  5. Educational Videos
  6. Trading Guides
  7. RoboForex R Trader Strategy Builder, and others.

 

In terms of customer support, RoboForex can be contacted through the following channels:

  • Facebook
  • Twitter
  • Instagram
  • Email
  • Telephone
  • Live chat

 

In terms of the service area, RoboForex serves traders from around the world except for traders from these regions:

  • United States
  • Japan
  • Canada
  • Australia

 

When compared to other forex brokers, RoboForex offers the following unique sides and features:

  • A safe trading platform secured by innovative features 
  • Ultra-low commissions from $0.0045
  • A choice between four different trading platforms available across devices
  • More than 9,400 tradable financial instruments

 

RoboForex is an active forex broker in Cameroon with more than a few hundred registered users. In terms of market share, RoboForex is a good brand and a popular trading broker with a good market share.

In terms of privileges that RoboForex offers to citizens from Cameroon, citizens can expect access to bonuses, promotions, and a choice between several account types.

The reason why so many forex traders use RoboForex in Cameroon relates to its beginner-friendly accounts and secure solutions.

To get more information, you can read the RoboForex Forex Suggest review.

 

7. eToro

eToro is a forex broker that was founded in 2007 based in Cyprus, United Kingdom, and Israel. eToro is a regulated broker with regulation and authorisation through CySEC, ASIC, and FCA to offer trading products and services around the world.

Yoni Assia, Ronen Assia, and David Ring founded eToro, and Yoni Assia is currently the CEO, having held the position since 2007. The average daily trading volume for eToro is $4.3 billion, according to official sources.

In terms of users, millions of users are registered with eToro. According to trusted sources, the staff size for eToro is between 500 and 1,000 employees.

In terms of deposit rates and fees, eToro charges a minimum deposit of $200 and there is a fixed spread of 3 pips EUR/USD, with the benefit of commission-free trading.

In terms of trade execution, eToro executes all orders within milliseconds. In terms of the trust and security features offered by the forex broker, eToro is a multi-regulated broker that can provide a secure trading environment for all traders and investors.

In terms of tradable financial instruments, eToro offers more than 2,000 instruments including the following:

  • Indices
  • Metals
  • Energies
  • Bonds
  • Forex
  • Commodities
  • Cryptocurrency
  • Stocks
  • Shares
  • ETFs
  • CFDs

 

In terms of currency types, eToro supports the following currencies:

  • AUD
  • EUR
  • USD
  • GBP
  • RUB, and several others.

 

In terms of trading software, eToro offers forex traders the use of proprietary trading software which is available to several different devices including mobile and desktop and on web browsers. 

In terms of research and education, eToro offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. eToro Watchlist
  2. eToro Portfolio
  3. eToro News Feed
  4. eToro Copy People
  5. eToro Trade Markets, and a few others.

 

In terms of customer support, eToro can be contacted through the following channels:

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Email
  • Telephone

 

In terms of the service area, eToro serves traders from around the world except for traders from these regions:

  • The United States
  • Syria
  • Sudan
  • Serbia
  • Canada
  • Japan 
  • North Korea
  • Iran
  • Albania, and several other regions.

 

When compared to other forex brokers, eToro offers the following unique sides and features:

  • A large trading environment secured by strict protocols and innovative technology
  • Commission-free trading
  • Powerful platform and social trading avenue
  • More than 2,000 tradable instruments

eToro is an active forex broker in Cameroon with more than 1,000 registered users. In terms of market share, eToro is one of the most popular brokers because of its global presence.

In terms of privileges that eToro offers to citizens from Cameroon, citizens can start trading with a demo account using the educational materials offered by eToro.

The reason why so many forex traders use eToro in Cameroon relates to its social trading opportunities and availability on smartphones.

To get more information, you can read the eToro Forex Suggest review.

 

Forex Trading in Cameroon

Forex trading in most African countries, including Cameroon, has seen a significant increase in recent years with more forex brokers offering their services to Cameroon traders, along with the widespread provision of the internet in most underdeveloped and developing nations.

Hundreds of forex brokers offer their services to thousands of Cameroon traders and even though there is no single regulating entity, traders have a choice from many regulated, reputable forex brokers such as those on this list.

Forex trading in Cameroon is not restricted and forex traders have the freedom of trading their CFA francs against any major, minor, or exotic currencies in the largest, most liquid market in the world, the forex market.

What should be known for Forex Trading in Cameroon

Cameroon is often referred to as “Africa in miniature” because of the geological and cultural diversity that is present in this African country. Cameroon became a republic in 1984 and this nation has an ethnically diverse population of more than 26 million.

Cameroon has some strict controls over its currency, but Cameroonian traders have the freedom of trading their currency against many others in the forex market through a broker that accepts traders from Cameroon.

 

Who are the Forex Regulators in Cameroon?

There are no direct or official forex regulators based in Cameroon.

 

Is Forex Trading legal in Cameroon?

Yes, forex trading is legal in Cameroon but there is strict control over the currency.

 

How many Forex Traders are there in Cameroon?

There is no precise count on the number of forex traders who are residing in Cameroon. However, there are more than 1.8 million forex traders who are scattered across the African continent, with a few thousand who reside in Cameroon.

 

What do Cameroon’s citizens think about Forex Trading?

Citizens of Cameroon have been very accepting of forex trading and many have worked their way up to becoming professionals. 

 

Best Forex Brokers for Beginners in Cameroon

The best forex brokers for beginners in Cameroon are:

  1. FP Markets
  2. FXTM
  3. eToro
  4. RoboForex
  5. easyMarkets

 

These are the best forex brokers in Cameroon who cater extensively for beginner traders who are just starting. These brokers are renowned for providing the best education and tools to beginners, helping them kickstart their forex journey and get ahead of the learning curve.

 

Best Forex Brokers for Experts in Cameroon

The best forex brokers for Experts in Cameroon are:

  1. FXCM
  2. eToro
  3. FXTM
  4. IC Markets
  5. RoboForex

 

These forex brokers have been chosen as the best for expert forex traders in Cameroon because they offer the best trading conditions, lowest trading and non-trading fees, and powerful trading software that will assist forex traders in remaining ahead of the markets.

 

Best Forex Brokers for Other Countries

The best forex brokers for Nigeria are:

  1. Alpari
  2. Hugo’s Way
  3. Pepperstone
  4. IC Markets
  5. HotForex

 

The best forex brokers for Gabon are:

  1. AvaTrade
  2. Fortrade
  3. NordFX
  4. Spreadex
  5. FXPrimus

 

The best forex brokers for Congo are:

  1. Plus500
  2. FXPrimus
  3. Trading 212
  4. XTB
  5. IC Markets