In this guide, we go over the best trading platforms in the Central African Republic. We have analysed 174 brokers and evaluated their platforms in 8 major categories. We measured all aspects of their service including trading platforms, fees, mobile trading, deposits & withdrawals, assets, regulation, research & education, customer support and islamic account options.
Trading platforms that reached the highest scoring are considered in the following list:
Top 6 Trading Platforms in the Central African Republic
- AVAtrade – Best trading platform
- IQ Option – Best Platform For Investors and Traders
- CMC Markets – Award winning trading experience
- Capital.com – Best in research and education
- XTB – Ideal for users looking to trade forex and CFDs
- Forex.com – Best Forex Trading Platform
Best Online Trading Platforms in the Central African Republic
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||AVAtrade||4.8||Best trading platform Overall||$100|
|#2||IQ Option||4.7||Best Platform For Investors and Traders||$10|
|#3||CMC Markets||5||Award winning trading experience||$0|
|#4||Capital.com||4.7||Best in research and education||$20|
|#5||XTB||4.5||Ideal for users looking to trade forex and CFDs||$250|
|#6||Forex.com||4||Best Forex Trading Platform||$100|
Below section breaks down the best trading platforms in the Central African Republic beginning with the highest rated…
01. AVATrade: Best Platform Overall
AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.
Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.
Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100.
Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or commodities with premium services.
02. IQ Option: Best Platform For Investors and Traders
IQ Option is a well established online broker great for users looking to trade forex, options and CFDs on a intuitive trading platform. Their well rounded offer consists of low spreads, a sophisticated trading platform, free demo account option, and responsive customer support in English language. They offer islamic accounts and copy trading in Arabic language which allows you to copy portfolios from seasoned investors and traders.
IQ Option is a trustworthy and reliable market maker broker commissioned by CySEC and subject to the highest standards of regulation in the industry. Options trading is no longer available.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
03. CMC Markets: Award winning trading experience
CMC Markets is a reputable online broker known for its award winning trading experience, excellent selection of tradable instruments and industry leading pricing. With over 12.500 tradable instruments across all asset classes, CMC is among industry leaders in market coverage.
Their proprietary trading platform called Next Generation is reliable, fast executing and fully packed with useful trading tools and indicators. It features an impressive education and research section full of quality in-house and third party content.
CMC Market offers the lowest commissions and fees in the industry. Low spread fees (0.73 pip on EUR/USD) are available for traders at all levels and accounts. Additional bonuses and rebates for active traders makes CMC Markets a market leader in costs and fees.
04. Capital.com: Best For Research and Education (Discount Broker)
Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.
Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.
Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
05. XTB – Ideal for users looking to trade forex and CFDs
XTB is a trusted online broker ideal for users looking to trade forex and CFDs on a great performing proprietary platform (xStation 5). Traders like the minimalist design, extensive selections of features, powerful trading tools and great order execution. As a multi-asset broker, XTB offers a vast selection of tradable instruments spread across all markets. They provide CFDs on stocks, commodities, ETFs, cryptos, Indices and forex currency pairs. XTB pricing is industry average across all accounts.
Beginner traders will like the outstanding customer support, excellent research + education section and the easy to use proprietary platform. With an overall great offer, it should be considered by any trader looking to trade forex and CFDs.
06. Forex.com: Best Forex Trading Platform
Forex.com is a well balanced online broker, great for users looking to trade forex and CFDs on a platform with no real downsided. Their multi-asset, features-rich trading platform offers a wide range of proprietary platforms, advanced social trading features and great asset coverage. Forex.com offers trading on over 4500 different CFDs as stock, cryptos, currencies and access to 5500 tradable symbols overall.
Exceptional educational resources, great market research and ease of use make this broker a good choice for beginners. Fees are competitive if you are trading high volume. Standard account fees are above industry average.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in the Central African Republic include: fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Fees: Choose a broker with a transparent fee structure and avoid brokerage accounts with high fees on trades, overnight fees and hidden fees. Commission and spread fees are common with the Central African Republic brokerage accounts. Spreads should vary between 0.03% to 0.5% depending on your trading volume.
Trading platforms: They should be user friendly, grant access to trading tools and indicators and suitable to traders at all levels. We recommend you opt for a platform with a technical charting interface and built-in market data. A comprehensive market news feed and access to advanced features are a must.
Mobile Trading: Mobile trading apps should offer the same trading tools and charts as their web versions. Choose mobile platforms with full-screen charting options and social feeds.
Deposit & Withdrawal: Deposit and withdrawal needs to be fast and simple. Choose an broker that offers your preferred payment method and industry leading commission and fee structures.
Assets: Look for coverage of preferred assets. the Central African Republic traders are allowed to access all tradable asset classes including forex, stocks, indexes, options, FOPs, commodities, futures, indices, bonds, swaps, mutual funds, hedge funds, spot gold, ETFs and cryptos.
Regulation: Brokers with top-tier licenses follow strict rules enforced by a trustworthy regulators and offer high security standards. We recommend users to choose platforms with FCA, CySEC, and ASIC licenses and tier one regulations.
Research & education: Beginner and average traders and investors should choose a broker with research and education tools including: weekly webinars, daily news updates, personal account manager, personal training and room access.
Customer support: Beginner traders should look out for responsive and professional customer support available in their language.
*Islamic Accounts: All platforms from our list offer islamic account options. This gives users the chance to trade online in compliance to the Sharia law.
Online Trading In the Central African Republic
Online trading in the Central African Republic is available through usage of online brokers and cryptocurrency exchanges. There is no stock exchange in the country. If you live in the Central African Republic and want to trade stocks, forex, cryptocurrencies, or other assets we recommend trading with one of the trusted brokers mentioned in this guide.
Online trading in Central African Republic is legal. Traders have to report capital profits made with online trading to the tax authorities. Profits are subject to a 30% capital gain tax.
Online Trading Regulation
The Commission Bancaire de l’Afrique Centrale (BEAC) regulates online trading in the Central African Republic. All companies based in the Central African Republic that want to offer online trading services to residents of the country have to be authorised by the BEAC and obey strict rules to maintain their brokerage license. Offshore brokers don’t need authorisation by BEAC to accept clients from the Central African Republic. There is no cryptocurrency trading regulation in the Central African Republic.
You can verify the validity of a broker’s or trading platform’s license by going to the official website of the BEAC, clicking on ‘Supervision Bancaire’, and searching the list of établissements financiers for the name of the broker. If the broker is based outside of the Central African Republic, you can visit the official websites of CySEC, FCA, BaFIN, ASIC, or FINRA and check their database of ‘Registered Entities’ for the name of the company you want to trade with. If nothing shows up, you might be dealing with an unregulated broker or trading platform and we recommend trading with one of the best trading platforms in the Central African Republic mentioned in this guide instead.
Based on our review, we consider AVAtrade as the best trading platform for the Central African Republic residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
IQ Option is the second best trading platform for the Central African Republic residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. CMC Markets, Capital.com, XTB and Forex.com are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In the Central African Republic?
Yes, there are trading platforms available in the Central African Republic that offer 0% commission trading like AvaTrade.
How Much Should I Invest When Trading Online in the Central African Republic?
You should always invest at least the minimum deposit amount the Central African Republic and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In the Central African Republic?
Yes, crypto trading is available to the Central African Republic citizens. The leading trading platforms offer Bitcoin trading via CFDs.
How To Check If A Trading Platform Has a Valid License?
You can check if a broker or trading platform has a valid license by checking the ‘Registered Entities’ databases on the official websites of regulatory bodies like the CySEC, FINRA, ASIC, BaFin, or FCA. For the Central African Republic-based brokers, you can check the official website of the Commission Bancaire de l’Afrique Centrale instead.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
If you liked this article then also read:
- Saudi Arabia
- 1 Top 6 Trading Platforms in the Central African Republic
- 2 Best Online Trading Platforms in the Central African Republic
- 2.1 01. AVATrade: Best Platform Overall
- 2.2 02. IQ Option: Best Platform For Investors and Traders
- 2.3 03. CMC Markets: Award winning trading experience
- 2.4 04. Capital.com: Best For Research and Education (Discount Broker)
- 2.5 05. XTB – Ideal for users looking to trade forex and CFDs
- 2.6 06. Forex.com: Best Forex Trading Platform
- 2.7 How To Pick The Right Platform?
- 2.8 Online Trading In the Central African Republic
- 2.9 Online Trading Regulation
- 2.10 License Verification
- 3 Conclusion