In this guide, we go over the best trading platforms in Djibouti. 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 Djibouti
- IQ Option – Best trading platform overall
- AVAtrade – Best Forex trading and CFD Platform
- CMC Markets – Award winning trading experience
- ActivTrades – Broker regulated by the UK’s FCA
- eToro – Best for Social and Copy Trading
- XTB – Ideal for users looking to trade forex and CFDs
Best Online Trading Platforms Djibouti
|PLATFORM||SCORE||GENERAL INFO||MINIMUM DEPOSIT|
|#1||IQ Option||4.7||Best trading platform Overall||$10|
|#2||AVAtrade||4.8||Best for CFD Trading||$100|
|#3||CMC Markets||5||Award winning trading experience||$0|
|#4||ActivTrades||4.4||Broker regulated by the UK’s FCA||$500|
|#5||eToro||4.9||Best for Social and Copy Trading||$200|
|#6||XTB||4.5||Ideal for users looking to trade forex and CFDs||$250|
The below section breaks down the best trading platforms in Djibouti beginning with the highest rated…
01. IQ Option: Best Platform Overall
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
02. AVATrade: Best CFD Broker in Djibouti
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.
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. ActivTrades: Broker regulated by the UK’s 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.
05. eToro: Best for Social and Copy Trading
eToro is a reputable global brand and industry leading broker 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 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.
06. 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.
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in Djibouti 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 Djibouti 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. Djibouti 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 Djibouti
Online trading in Djibouti is available through services offered by online brokers and crypto exchanges. Djibouti doesn’t have its own domestic stock exchange. If you live in Djibouti and want to trade international stocks, cryptocurrencies, or other assets, we recommend trading with one of the trusted brokers mentioned in this guide. It is legal to trade with offshore brokers. Traders and investors need to report their earnings and pay a 5% capital gains tax on capital profits.
Online Trading Regulation
The Banque Centrale de Djibouti (BCD) regulates all financial activities in Djibouti including online trading. All Djibouti-based brokers that offer online trading to Djibouti citizens have to be authorised by the BCD. Offshore brokers can offer online trading services to Djibouti citizens without being authorized by the BCD. Cryptocurrency trading is legal in Djibouti as there is no legal framework in place for this type of trading yet.
You can verify the validity of a brokers license by going to the official website of the BCD, clicking on ‘Supervision des Institutions’, and searching the list of Auxiliaires Financiers for the name of the broker. If the broker is based outside of Djibouti, 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 Djibouti mentioned in this guide instead.
Based on our review, we consider IQ Option as the best trading platform for Djibouti 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 Djibouti residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. CMC markets, ActivTrades, eToro, and XTB are finishing up our list of top platforms with a great overall offer and above average ratings.
Are There Commission-Free Trading Platforms In Djibouti?
Yes, there are trading platforms available in Djibouti that offer 0% commission trading like eToro and AvaTrade.
How Much Should I Invest When Trading Online in Djibouti?
You should always invest at least the minimum deposit amount Djibouti and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In Djibouti?
Yes, crypto trading is available to Djibouti 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 Djibouti-based brokers, you can check the official website of The Banque Centrale de Djibouti 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 Djibouti
- 2 Best Online Trading Platforms Djibouti
- 2.1 01. IQ Option: Best Platform Overall
- 2.2 02. AVATrade: Best CFD Broker in Djibouti
- 2.3 03. CMC Markets: Award winning trading experience
- 2.4 04. ActivTrades: Broker regulated by the UK’s FCA
- 2.5 05. eToro: Best for Social and Copy Trading
- 2.6 06. XTB: Ideal for users looking to trade forex and CFDs
- 2.7 How To Pick The Right Platform?
- 2.8 Online Trading In Djibouti
- 2.9 Online Trading Regulation
- 2.10 License Verification
- 3 Conclusion