Best Forex Trading Platforms In Cameroon 2025
Forex trading interest is rising in Cameroon, fueled by better internet connectivity, success stories online, and more smartphones with around 80% of the population having a mobile subscription.
Since 2019, the Central African Financial Market Supervisory Commission (COSUMAF) has regulated the financial markets in Cameroon and five other Central African countries, succeeding Cameroon’s Financial Markets Commission.
Explore our pick of the best forex trading platforms in Cameroon, chosen for their reliability, wide-ranging access to foreign exchange markets, terrific tools, low fees, and accessible account funding in the Central African Franc (XAF).
Top 6 Forex Trading Platforms In Cameroon
These 6 forex brokers accepting traders from Cameroon achieved the highest ratings during our exhaustive tests and analysis:
Here is a short overview of each broker's pros and cons
- XM - XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.8 pips on the EUR/USD in the commission-free account.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
- AvaTrade - AvaTrade delivers 50+ currency pairs with tight spreads from 0.9 pips and zero commissions. Trade majors, minrs, and exotics 24/5 on leading forex platforms, notably MT4, with sophisticated charting tools and forex education to sharpen your edge, including a dedicated guide to 'Currency Trading'.
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
Best Forex Trading Platforms In Cameroon 2025 Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
| XM | 55+ | 0.8 | / 5 | $5 | ASIC, CySEC, DFSA, IFSC |
| Vantage | 55+ | 0.0 | / 5 | $50 | FCA, ASIC, FSCA, VFSC |
| IC Markets | 75 | 0.02 | / 5 | $200 | ASIC, CySEC, FSA, CMA |
| AvaTrade | 50+ | 0.9 | / 5 | $100 | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
| FOREX.com | 80+ | 1.2 | / 5 | $100 | NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA |
| Eightcap | 50+ | 0.0 | / 5 | $100 | ASIC, FCA, CySEC, SCB |
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
Christian Harris, Reviewer
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| GBPUSD Spread | 0.8 |
| EURUSD Spread | 0.8 |
| EURGBP Spread | 1.5 |
| Total Assets | 55+ |
| Leverage | 1:1000 |
| Platforms | MT4, MT5, TradingCentral |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
Cons
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features.
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Jemma Grist, Reviewer
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| GBPUSD Spread | 0.5 |
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.5 |
| Total Assets | 55+ |
| Leverage | 1:500 |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- There are no short-term strategy restrictions with hedging and scalping permitted
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
Cons
- Unfortunately, cryptos are only available for Australian clients
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| GBPUSD Spread | 0.23 |
|---|---|
| EURUSD Spread | 0.02 |
| EURGBP Spread | 0.27 |
| Total Assets | 75 |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
AvaTrade
"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."
AvaTrade Quick Facts
| Bonus Offer | 20% Welcome Bonus up to $10,000 |
|---|---|
| GBPUSD Spread | 1.5 |
| EURUSD Spread | 0.9 |
| EURGBP Spread | 1.5 |
| Total Assets | 50+ |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
- AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
Cons
- Although the deposit process itself is smooth, AvaTrade still doesn’t facilitate crypto payments, a feature increasingly offered by brokers like TopFX, which caters to crypto-focused traders.
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | 20% Welcome Bonus Up To $5000 |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:400 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Eightcap Quick Facts
| GBPUSD Spread | 0.1 |
|---|---|
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.1 |
| Total Assets | 50+ |
| Leverage | 1:500 |
| Platforms | MT4, MT5, TradingView |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
Cons
- Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
How We Rate Forex Trading Platforms In Cameroon
To earn a spot in our top picks a forex broker needs to impress our experts in these crucial areas:
Trust
COSUMAF has warned of an ‘upsurge’ in illegal investment firms that scam customers in Cameroon with promises of extremely high returns of up to 500%, so it’s more important than ever that you choose a reliable forex trading platform.
Our recommended forex brokers have earned our trust by obtaining licenses from respected regulators and serving retail investors over many years. They also provide secure and dependable forex trading environments following our hands-on tests.
- XM remains a highly trusted forex trading platform with over 10 million clients, plus authorization from credible regulators, notably the FSCA in South Africa.
Currency Pairs
Cameroon’s currency, the Central African Franc (XAF), is fixed to the Euro, closely tying its prospects to the performance and policies of the Eurozone, while its position as a major oil exporter also makes it vulnerable to changes in commodity prices.
Having said that, our analysis shows that the XAF is not widely found on online forex trading platforms. Instead, you will find upwards of 50 currency pairs at our top forex brokers in Cameroon, providing opportunities on a range of major, minor and exotic currency pairs, including regional currencies like the South African Rand (ZAR).
- FOREX.com stands out in our list of recommended forex trading platforms with over 80 FX assets, including currency pairs like the USD/ZAR, EUR/ZAR, GBP/ZAR, and ZAR/JPY, providing opportunities to speculate on regional influences.
Forex Platforms
It’s important to use a forex trading platform that suits your needs and style, whether you’re trading currencies for the first time or you’re a seasoned day trader. That’s why we only recommend brokers that provide top-quality third-party or bespoke platform options.
For experienced traders, this could be the classic MetaTrader 4, MetaTrader 5 or cTrader, each of which impresses thanks to sophisticated charting and algorithmic trading capabilities.
MT4, in particular, has remained the industry favorite for over a decade and was designed specifically for forex trading, though its design is becoming increasingly outdated.
New traders, however, may prefer proprietary solutions that pack comparable power under a slicker, more intuitive modern interface. They still provide ample indicators, drawing tools and timeframes for short-term analysis, and often feature insights and forex trading ideas from in-house analysts.
I recommend testing the platform on a forex demo account – it is the most important tool you’ll use to trade currencies, so it’s important you like its interface and are familiar with the features.
- AvaTrade continues to excel in the tooling department. MT4 and MT5 will appeal to seasoned forex traders while the WebTrader and AvaTradeGO app sport a clean design that we love, reducing the learning curve for aspiring investors.
Trading Fees
For short-term forex traders, in particular, selecting a platform with low fees is essential to maximize returns. The good news is that a rising number of brokers offer tight spreads on majors like the EUR/USD with low or no commissions.
Importantly, we also weigh trading fees against the full range of services offered by brokers because we know extra tools can be important for winning trades.
For example, TradingView features an economic calendar that tracks events that can affect currency prices, such as interest rate decisions from central banks, from over 25 Middle Eastern and African countries.
- IC Markets maintains its position as one of the cheapest forex platforms accepting traders from Cameroon, with consistently low spreads averaging 0.1 pips on the EUR/USD, excellent execution, and rebates for active traders of up to $2.50 per forex lot.
Account Funding
Central African Franc (XAF) is not a common account currency at online brokers, therefore you should look for forex trading platforms that have reliable, low-cost payment options that work in Cameroon.
Digital payment solutions are often more convenient and affordable for making cross-border transfers, and ITWeb Africa reports that Cameroon’s authorities have been making active efforts to enhance coverage for these services.
- Eightcap’s selection of payment methods is excellent with convenient options for traders in Cameroon, notably PayPal and Skrill, alongside an accessible minimum deposit of 100 USD, around 60,000 XAF.
Methodology
To select the best forex trading platforms in Cameroon, we filtered by those that accept traders from Cameroon and then sorted them on their overall rating which looks at key areas, notably: 
- Checking the forex trading platform is authorized by a well-known regulator if not the COSUMAF.
- Considering the selection of major, minor and exotic currency pairs available to traders in Cameroon.
- Checking that the broker offers excellent platforms and apps that deliver for forex day traders.
- Reviewing the trading fees on notable forex pairs and weighing this against the quality of the trading environment.
- Making sure the forex trading platform offers accessible deposit options for investors in Cameroon.
FAQ
Is Forex Trading Legal In Cameroon?
There are no regulations banning forex trading in Cameroon, so retail investors can sign up with an online broker to speculate on currencies.
Who Regulates Forex Trading In Cameroon?
The Gabon-based Central African Financial Market Supervisory Commission (COSUMAF) has overseen the financial markets in Cameroon and five other Central African countries since 2019.
Before the COSUMAF took over its duties, the Financial Markets Commission, also known as the Commission des Marchés Financiers, was Cameroon’s main regulator.
Note that if you trade forex with an international broker you may be onboarded to an offshore entity with limited safeguards such as negative balance protection and investor compensation. As a result, only risk what you can afford to lose and take a sensible approach to risk management.
How Much Money Do I Need To Start Trading Forex In Cameroon?
The amount of money you will need for your initial deposit varies from broker to broker, but out of the 220 that we’ve reviewed, very few require more than 250 USD, around 150,000 XAF.
You can also find forex trading platforms in our top list that charge significantly less, such as XTB with no minimum investment, making it an excellent option for newer traders, especially considering its excellent educational materials.
Recommended Reading
Article Sources
- Central African Financial Market Supervisory Commission (COSUMAF)
- Mobile Subscription Figures in Cameroon - Statista
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