In this guide, we go over the best trading platforms in Comoros. 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 Comoros
- IQ Option – Best trading platform in Comoros overall
- AVAtrade – Best Forex trading and CFD Platform
- eToro – Best for Social and Copy Trading
- Capital.com – Best in research and education
- Saxo Bank – Best for Advanced Traders
- XM – Best platform for forex trading
Best Online Trading Platforms Comoros
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||IQ Option||4.9||Best trading platform Overall||$10|
|#2||AVAtrade||4.8||Best for CFD Trading||$100|
|#3||eToro||4.7||Best For Copy Traders||$200|
|#4||Capital.com||4.7||Best Broker for Algorithmic Traders||$0|
|#5||Saxo Bank||4.6||Best For High Volume Traders||$10.000|
|#6||XM||4.6||Best MT4 and MT5 Platform||$5|
The below section breaks down the best trading platforms in Comoros beginning with the highest rated – IQ Option.
01. IQ Option: Best Platform Overall
IQ Option is the overall best online trading platform for Comoros investors and traders. Their winning 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 from Comoros.
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.
02. AVATrade: Best CFD Broker in Comoros
AVAtrade finishes on second as the best CFD broker in Comoros. Their multi-asset trading platform and mobile trading app enable Comoros traders 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.
03. eToro: Best Broker For Social Trading
eToro is the industry leading broker in Comoros for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.
As a CFD multi asset broker, eToro allows Comoros users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.
eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
04. Capital.com: Best For Research and Education (Discount Broker)
Capital.com is a top choice for Comoros 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, forex pairs and a few indexes.
Founded in 2016, Capital.com is owned by Capital Com SV Investments Limited and regulated by two tier one regulatory authorities. 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 and futures trading. Beginner traders from Comoros will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.
05. Saxo Bank: Best For High Volume Traders and Investors
Saxo Bank finishes our list offering the best platform for high volume traders and investors. Users can enjoy cutting edge trading technology paired with a premium interface and great trade execution on mobile and desktop. The Saxo Bank trading platform offers a feature rich trading experience, easy to use interface, competitive margin rates, and trading on over 40,000 financial instruments. This makes them an industry leader in trading assets coverage as an ECN broker.
If you can afford the minimum deposit of $10.000 for Comoros, this is the go to broker for traders and investors at all levels. They combine high-quality in-house research with top-tier third-party providers to and a diverse portfolio of investment options.
Comoros-based traders who want to trade in accordance to the Sharia Law can open up an islamic account. Saxo Bank also offers high quality customer service in Arabic and English language via phone, email or in person at their local Comoros office with guarantee satisfying answers.
06. XM: Best For Forex Trading
XM Forex is a Best-in-Class broker offering a complete MetaTrader suite coupled with upgrades to enhance trading experience and use of custom indicators. Through its various brands, XM offers traders a total of 1,230 CFDs across multiple asset classes, including forex, cryptos, stocks and CFDs.
XM offers low min deposits and wide range of account types. XM Forex offers low spreads and flexible lot sizes and is considered an average-risk trader. They are privately owned and do not operate a bank.
XM is regulated and authorized by the Australian Securities & Investment Commission (ASIC) and the UK’s Financial Conduct Authority (FCA)
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Comoros 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 Comoros 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. Comoros 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 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 Comoros
Online trading in Comoros is available through online brokers and cryptocurrency exchanges including the ones mentioned in this guide. Online trading is legal in Comoros. Traders and investors from Comoros need to report capital profits made with online trading. Capital gains are taxed at 20%.
Online Trading Regulation
The Comoros Financial Centre (CFC) regulates online trading and all financial activities in Comoros. All Comoros-based brokers that offer online trading to Comorian citizens have to be authorized and obey strict rules set out by this institution to maintain their operating license. Offshore brokers can offer online trading services to Comorian citizens without being authorized by the OSFI. Cryptocurrency trading is legal in Comoros.
You can verify the validity of a brokers license by going to the official website of the CFC, clicking on ‘Comoros Register’, and searching the list of Registered Entities for the name of the broker. If the broker is based outside of Comoros, 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 Comoros mentioned in this guide instead.
Based on our review, we consider IQ Option as the best trading platform for Comorian residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
AVAtrade is the second best trading platform for Comorian residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. eToro, Capital.com, Saxo Bank and XM are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Comoros?
Yes, there are trading platforms available in Comoros that offer 0% commission trading like eToro and AvaTrade.
How Much Should I Invest When Trading Online in Comoros?
You should always invest at least the minimum deposit amount Comoros and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Comoros?
Yes, crypto trading is available to Comorian 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 Comoros-based brokers, you can check the official website of The Office of the Comoros Financial Centre 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 Comoros
- 2 Best Online Trading Platforms Comoros
- 2.1 01. IQ Option: Best Platform Overall
- 2.2 02. AVATrade: Best CFD Broker in Comoros
- 2.3 03. eToro: Best Broker For Social Trading
- 2.4 04. Capital.com: Best For Research and Education (Discount Broker)
- 2.5 05. Saxo Bank: Best For High Volume Traders and Investors
- 2.6 06. XM: Best For Forex Trading
- 2.7 How To Pick The Right Platform?
- 2.8 Online Trading In Comoros
- 2.9 Online Trading Regulation
- 2.10 License Verification
- 3 Conclusion