In this review, we discuss the best trading platforms in Burkina Faso. We have reviewed 174 brokers and analyzed their platforms in 8 categories. We focused on all characteristics of their offering, including mobile apps, trading costs, trading platforms, asset portfolios, deposits & withdrawals, licenses, customer services, and account tiers.
The platforms with the highest scores are below.
Top 6 Trading Platforms In Burkina Faso
- Interactive Brokers – Best trading platform overall
- Tradestation – Zero commission stock and ETF trading
- ActivTrades – Broker regulated by the UK FCA
- Capital.com – Best in research and education
- Forex.com – Best forex trading platform
- CMC Markets – Award-winning trading experience
Best Online Trading Platforms In Burkina Faso
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||Interactive Brokers||4.9||Best trading platform Overall||$0|
|#2||Tradestation||3.7||Zero commission stock and ETF trading||$2000|
|#3||ActivTrades||4.4||Broker regulated by the UK FCA||$500|
|#4||Capital.com||4.7||Best in research and education||$20|
|#5||Forex.com||4||Best Forex Trading Platform||$100|
|#6||CMC Markets||5||Award-winning trading experience||$0|
The section below breaks down the best trading platforms in Burkina Faso beginning with the highest-rated.
01. Interactive Brokers: Best Trading Platform Overall
Interactive Brokers is a highly trusted brokerage firm with an attractive offer. It offers sophisticated order-type configuration and professional platforms. Interactive Brokers has a comprehensive portfolio with access to many tradable markets. It has excellent educational content and research tools.
This broker’s platforms are intuitive and user-friendly. The Global Trader platform is their entry-level service for new and intermediate traders. Professional traders prefer the Trader Workstation platform. This desktop platform offers competitive fees and excellent global market access.
02. Tradestation: Best Platform For Zero Commission ETF And Stock Trading
Tradestation is a popular brokerage firm known for its technology-leading platforms. It has an excellent selection of tools and learning materials. Tradestation has well-designed platforms, including a desktop, web, and mobile version. This broker offers a comprehensive portfolio with access to popular assets like cryptos, stocks, and ETFs.
Tradestation has different fees based on the account tier you use. It has competitive fees for most accounts, and it doesn’t charge monthly fees. The minimum deposit at Tradestation is $2000.
03. ActivTrades: Best Fully Customizable Platform
ActivTrades is a top broker with an outstanding, fully customizable platform. It is an excellent forex and CFD broker with an FCA license. ActivTrades offers an industry-leading proprietary platform with an intuitive design. The account opening process is simple, and funding is fast.
It has a clear report on trading fees and commissions. ActivTrades charges an inactivity fee. It offers access to standard assets and instruments, which might not be enough for seasoned traders. ActivTrades has limited learning tools.
04. Capital.com: Best Platform For Research & Education
Capital.com is a secure brokerage firm with industry-leading platforms. It has licenses from the FCA, ASIC, CySEC, and FSA. Capital.com isn’t publicly traded, but it has an excellent reputation. Capital.com offers the best platforms for research and education. It has access to premium research tools and platform interfaces.
This broker has a comprehensive portfolio with many tradable assets, including CFDs on cryptos, indices, stocks, and forex pairs. Capital.com has a great mobile trading experience and offers a professional web trading platform.
05. Forex.com: Best Forex Trading Platform
Forex.com is a well-established forex trading broker with access to secure platforms. It offers forex and CFD services and a multi-asset platform. Its features-rich platform provides access to advanced social trading services. Forex.com has an excellent asst coverage with 4500+ CFDs as stocks, currency pairs, and cryptos.
This broker offers exceptional educational resources with forex trading tutorials, webinars, and market data. It has competitive fee structures for high-volume trades. Forex.com has outstanding fees for standard forex accounts.
06. CMC Markets: Best Platform For Extensive Market Coverage
CMC Markets is a trustworthy provider popular for its award-winning trading platforms. It has an impressive selection of tradable assets and industry-leading trading costs. CMC Markets offers 12,500+ tradable instruments.
It offers a proprietary trading platform with extensive market coverage. CMC Markets offers many trading tools and indicators. It has a dedicated learning center with third-party content, market news, and in-house trading information. CMC Markets has the lowest fees and spreads in the industry.
How To Select The Right Platform?
Selecting the right platform requires you to pay attention to important aspects like trading costs, platforms, apps, assets, deposits & withdrawals, customer support, security, and liquidity.
Fees: Look out for a broker with a simple fee structure and avoid brokers with high trading costs, hidden fees, and overnight commissions. Spread fees are frequent with the Burkina Faso account and should vary between 0.03% to 0.5%.
Trading Platforms: Platforms should be intuitive and offer access to reliable tools and indicators for both beginner and advanced traders. You should choose a platform with built-in market data and third-party content.
Mobile Trading: Trading apps have to offer the same tools and charts as their web versions. Select platforms with social fees, learning tools, and full-screen charting.
Deposit & Withdrawal: Deposit and withdrawal have to be simple. We recommend selecting a broker with many funding options and industry-leading fees.
Assets: Consider a broker with coverage of your preferred assets. Traders in Burkina Faso receive access to all tradable asset classes, including spot gold, hedge funds, stocks, forex, indices, commodities, and cryptocurrencies.
Regulation: Brokerage firms with top-tier licenses follow strict rules and use industry-leading safety protocols. We recommend you use platforms with FCA, ASIC, and CySEC licenses and tier-one regulations.
Research & Education: New and intermediate traders should select a broker with comprehensive education and research materials. Look for access to weekly webinars, FAQs, tutorial videos, and personal training services.
Customer Support: Traders at all levels need access to knowledgeable and responsive 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 with Sharia law.
Trading Platform Regulation In Burkina Faso
The West African Monetary and Economic Union (UEMOA) and the Organization for the Harmonization of Business Law in Africa (OHADA) are the financial regulatory bodies in Burkina Faso. UEMOA and OHADA oversee the online trading and financial services in Burkina Faso. All firms with headquarters in Burkina Faso need to request authorization from UEMOA. All brokers offering their services in this country need to follow strict Anti-Money Laundering (AML) and Combating the Finance of Terrorism (CFT) rules.
License verification is straightforward. You have to access the official website of the OHADA and search for the broker’s name in the Digital Library section. If the provider has its headquarters outside Burkina Faso, you have to check the main websites of ASIC, FCA, FINRA, CySEC, or BaFIN. Verify their database of Registered Entities. If you don’t find any information, you might be facing an unregulated provider. We recommend you use platforms with top-tier licenses.
Based on our review, we consider Interactive Brokers as the best trading platform for Burkina Faso residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features, and responsive customer support.
Tradestation is the second-best trading platform for Burkina Faso residents, because of its low fees, advanced trading tools, copy trading features, and responsive customer support. ActiveTrades, Capital.com, Forex.com, and CMC Markets are finishing up our list of top platforms with a great overall offer and above-average ratings.
Are There Commission-Free Platforms In Burkina Faso?
Yes, there are commission-free platforms in Burkina Faso.
How Much Should I Invest When Day Trading Online In Burkina Faso?
You should always start with the minimum deposit requirement in Burkina Faso. On average, this is about $50.
Is Cryptocurrency Trading Available In Burkina Faso?
Yes, cryptocurrency trading is available in Burkina Faso. Secure brokerage firms and platforms offer Bitcoin trading via CFDs.
Are There Any Safety Risks For Traders In Burkina Faso?
Online trading comes with many risks. Assets are volatile, which might lead to loss of funds. We recommend you use the services of a broker with top-tier licenses.
Which Trading Platform Is Most Profitable?
A trading platform is profitable for traders at all levels. But your online trading results depend on your experience, skills, and trading style. Using platforms with access to valuable research and learning tools is best.
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:
- 1 Top 6 Trading Platforms In Burkina Faso
- 2 Best Online Trading Platforms In Burkina Faso
- 2.1 01. Interactive Brokers: Best Trading Platform Overall
- 2.2 02. Tradestation: Best Platform For Zero Commission ETF And Stock Trading
- 2.3 03. ActivTrades: Best Fully Customizable Platform
- 2.4 04. Capital.com: Best Platform For Research & Education
- 2.5 05. Forex.com: Best Forex Trading Platform
- 2.6 06. CMC Markets: Best Platform For Extensive Market Coverage
- 2.7 How To Select The Right Platform?
- 2.8 Trading Platform Regulation In Burkina Faso
- 2.9 License Verification
- 3 Conclusion