In this guide, we go over the best trading platforms in Burkina Faso. 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 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 – Broker known for its award winning trading experience
Best Online Trading Platforms 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||Broker known for its award winning trading experience||$0|
Below section 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 global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
02. Tradestation: Zero commission stock and ETF trading
Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.
Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO). Minimum deposit is $2000 and there are no monthly charges.
03. ActivTrades: Broker regulated by the UK FCA
ActivTrades is a reputable forex and CFD broker regulated by the UK’s Financial Conduct Authority (FCA). Their proprietary trading platform called ActivTrader is intuitive, fully customizable and offers a clear report on trading fees. Account opening is fast and easy, deposits and withdrawals are free of charge. Trading fees are below industry average.
ActiveTrades charges an inactivity fee. Tradable assets are limited to basic classes and instruments which will not be enough for professional traders. Research and educational materials are slim.
04. Capital.com: Best in research and education
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. 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.
06. CMC Markets: Known for 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.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Burkina Faso 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 Burkina Faso 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 a broker that offers your preferred payment method and industry leading commission and fee structures.
Assets: Look for coverage of preferred assets. Burkina Faso 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 Burkina Faso
Online trading in Burkina Faso is available through the Bourse Regionale des Valeurs Mobilieres (BRVM). Founded in 1998, it is a regional stock exchange for Cote d’Ivoire, Mali, Senegal, Togo, Burkina Faso and Niger. Residents of Burkina Faso can only trade domestic stock via the BVRM. If you live in Burkina Faso and want to trade international commodities, stocks, forex, cryptocurrencies and other assets we recommend trading with the trusted offshore brokers mentioned in this guide. It is legal to trade with foreign brokers, but the government of Burkina Faso does not protect funds invested or traded abroad.
Online Trading Regulation
The Burkina Faso Bank for International Settlements (BIS) regulates the finance industry, including online trading in Burkina Faso. All brokers based in Burkina Faso that offer online trading services have to be authorized by BIS. They have to follow strict rules and guidelines set out by the BIS to maintain their operating license. Foreign brokers don’t need to be authorized by the BIS to offer online trading to residents of Burkina Faso. It is legal to trade cryptocurrency if you live in Burkina Faso.
You can verify the validity of a brokers license by going to the official website of the BIS, clicking on ‘Research and Publications’, and searching the documents section for the name of the broker. If the broker is based outside of Burkina Faso, 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 Burkina Faso mentioned in this guide instead.
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 a responsive customer support.
Tradestation is the second best trading platform for Burkina Faso residents, because of their low fees, advanced trading tools, copy trading features, and a 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 Trading Platforms In Burkina Faso?
Yes, there are trading platforms available in Burkina Faso that offer 0% commission trading.
How Much Should I Invest When Trading Online in Burkina Faso?
You should always invest at least the minimum deposit amount Burkina Faso and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Burkina Faso?
Yes, crypto trading is available to Burkina Faso 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 Burkina Faso-based brokers, you can check the official website of the Burkina Faso Bank of International Settlements 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 Burkina Faso
- 2 Best Online Trading Platforms Burkina Faso
- 2.1 01. Interactive Brokers: Best trading platform overall
- 2.2 02. Tradestation: Zero commission stock and ETF trading
- 2.3 03. ActivTrades: Broker regulated by the UK FCA
- 2.4 04. Capital.com: Best in research and education
- 2.5 05. Forex.com: Best Forex Trading Platform
- 2.6 06. CMC Markets: Known for award winning trading experience
- 2.7 How To Pick The Right Platform?
- 2.8 Online Trading In Burkina Faso
- 2.9 Online Trading Regulation
- 2.10 License Verification
- 3 Conclusion