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5 Best Forex Brokers in Togo

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Overview

Forex trading is not an activity which has gained significant popularity in the West African country, Togo. This is attributed to Togo being part of international organisations including:

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  • The United Nations
  • The African Union
  • The Economic Community of West African States (ECOWAS)

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The African Development Bank and government have not made any attempts to reform the regulatory structure to integrate forex trading within it. However, despite this, there are numerous international brokers that welcome traders from Togo, with some of the best listed below.

 

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XM

XM was established in 2009 and is a multi-regulated, multi-asset broker that caters for more than 2.5 million registered traders from 196 countries worldwide.

XM offers traders with tight and competitive spreads, fast trade execution, a variety of account types, and negative balance protection.

 

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Pros and Cons

PROS

CONS

Strict regulation

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US clients not accepted

Negative balance protection offered

Fixed spreads not offered

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Tight spreads, low commissions, fast trade execution

 

 

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FBS

Founded in 2009, FBS is a well-regulated ECN and STP broker which offers traders with both floating and fixed spreads, a choice in dynamic account types, a range of trading tools, market analysis, and educational materials, tools, and resources.

 

Pros and Cons

PROS

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CONS

Low minimum deposit requirement

US, UK, Japan, Israel, Canada, and other jurisdictions not accepted

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Social trading supported

Limited financial instruments

Variety of account types offered

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High spreads on entry-level accounts

 

FXTM

FXTM is a multi-regulated ECN and STP broker which has been in operation since 2011 in facilitating the trade of more than 250 financial instruments spread across several asset classes.

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Traders are offered with competitive trading conditions, a variety of trading tools, flexible account types, a range of educational material, and powerful trading platforms.

 

Pros and Cons

PROS

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CONS

Strict regulation

US clients not accepted

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Variety of account types and commission-free trading options

Restricted leverage for EU clients

Low minimum deposit requirement

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Professional account offers the best trading conditions

 

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FP Markets

FP Markets is an Australian-based ECN, STP, and DMA broker that is regulated in multiple jurisdictions, offering comprehensive trading solutions and services to traders from around the world.

FP Markets offers traders with award-winning trading platforms, transparent fee schedules, fast trade execution speeds, and competitive trading costs. In addition, traders also have access to a variety of financial instruments which can be traded, ECN pricing, and commission-free trading options.

 

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Pros and Cons

PROS

CONS

ECN pricing

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US clients not accepted

Multiple awards won

Fixed spreads not offered

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Inactivity fees are not charged

 

 

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OctaFX

Established in 2011, OctaFX is a well-regulated and reputable ECN and STP broker that offers both fixed and variable spreads, powerful trading platforms through which trades can be executed seamlessly, flexible account types, and a range of forex and CFD instruments.

Traders are also offered with competitive fees, dedicated customer support, social trading opportunities, negative balance protection, and the use of a variety of trading strategies

Pros and Cons

PROS

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CONS

Commission-free trading options

US clients not accepted

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Fixed spread accounts offered along with variable spreads

Limited financial instruments

Variety of strategies supported

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