Page Summary
In this guide, we go over the best trading platforms in the Republic of the Congo. 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 Republic of the Congo
- Oanda – Best trading platform
- Interactive Brokers – Great Overall Pick
- eToro – Best Broker For Social Trading
- Pepperstone – Great research and education section
- ActivTrades – Broker regulated by the UK’s FCA
- Libertex – Great for beginners
Best Online Trading Platforms Of The Republic of the Congo
| RANK | BROKER | GENERAL | PLATFORM SCORE | MINIMUM DEPOSIT | WEBSITE |
|---|---|---|---|---|---|
| #1 | Oanda | Best trading platform | 3,8/5 | $0 | Official website |
| #2 | Interactive Brokers | Great Overall Pick | 4,9/5 | $0 | Official website |
| #3 | eToro | Best Broker For Social Trading | 4,9/5 | $200 | Official website |
| #4 | Pepperstone | Great research and education section | 3,8/5 | $200 | Official website |
| #5 | ActivTrades | Broker regulated by the UK’s FCA | 4,1/5 | $500 | Official website |
| #6 | Libertex | Great for beginners | 0,0/5 | $100 | Official website |
The below section breaks down the best trading platforms in the Republic of the Congo beginning with the highest rated…
1. Oanda – Best trading platform
Min Deposit: 0
Fees: 3.1
Assets available: 1.8
Total Fees:
OandA is a low risk CFD and forex broker with an extensive market research section, daily market updates and social trading features. Authorized by 6 tier one regulators, it is considered low risk for traders all across the globe. Their trading platform is intuitive, automate-executing and offers multiple features for algorithmic and social trading. Mobile trading is available through fxTrade on industry leading research and charting tools.
For a low cost broker, their fees and commissions are above industry average across all accounts (core and default).
Pros
- Multiple trading platforms available
- Broad range of research and analysis tools
- Easy account opening process
Cons
- Only CFD and forex trading available
- Customer support is only available during office hours
- Charges inactivity fees
Key features
- Access to over a thousand different CFDs on multiple asset classes and over 50 forex pairs
- Real-time currency conversion and access to 25 years’ historical FX data across 38,000 forex pairs
- Great corporate solutions like payment gateways and currency converters
- Competitive commissions, spreads and other trading fees
- Compatible with both MetaTrader 4 and 5
- Dedicated relationship manager, free VPS, trading fee and wire transfer discounts for professional traders
2. Interactive Brokers – Great Overall Pick
Min Deposit: 0 ($2000 for margin account)
Fees: 4.9
Assets available: 4.9
Total Fees:
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.
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).
Pros
- Best market coverage in the industry (100k+ assets on different instruments)
- Access to 16,500 shares and 8,000 stocks as CFDs
- Professional trading platform suitable for different types of traders
- Intuitive and easy to use mobile trading app
- Industry leading fee structure
- Compatible features for casual and professional traders
- Responsive customer support
Cons
- Few deposit and withdrawal options
- Research and education materials missing
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
3. eToro – Best Broker For Social Trading
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
79% 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. eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
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.
Pros
- Access to over 4000+ tradable symbols
- Great overall market coverage
- Easy to use mobile trading app and platforms
- Industry leading social/copy trading app
- Great cryptocurrency trading features
- Responsive customer support
Cons
- Algorithmic trading not available
- Forex and CFD fees above industry average
- Education and research tools missing
Key features
- Sophisticated social-copy trading features
- Multiple different payment options
- Crypto exchange and brokerage services on the same dashboard
- Super fast registration and KYC on-boarding process
- Zero commission stock trading
- Great ease of use level
4. Pepperstone – Great research and education section
Min Deposit: $200
Fees: 4.9
Assets available: 4.8
Total Fees:
Pepperstone is a trusted Forex and CFD broker well know for its support of multiple copy trading platforms, great variety of tradable assets and a enormous research and education section. The combined offering of cTrader, MetaTrader and various social trading features makes this broker s great fit for copy traders and algorithmic traders.
Pepperstone is available through 24/5 phone and online chat support plus offers an extensive FAQ web section, and e-mail.
Pros
- Great for algorithmic and copy traders
- Multiple platform add-ons
- Competitive fees and commissions
- Advanced social trading features
- Excellent education and research section
- Competitive fee structure for day
Cons
- Lack of video educational resources
- Advanced order types missing
- Customer support not in Arabic
Key features
- 600 + stocks as CFDs available
- Great variety of trading platforms (MetaTrader + cTrader)
- Multiple advance trading add-ons
- Social trading features
- Competitive pricing for active traders
5. ActivTrades – Broker regulated by the UK’s FCA
Min Deposit: $500
Fees: 3.5
Assets available: 2.8
Total Fees:
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.
Pros
- Negative balance protection and increased insurance
- Excellent multi-lingual support in 14 languages
- Low fees from 0.5 pips on EUR/USD
Cons
- Charges inactivity fee
- Only offers CFD, forex, and crypto trading
Key features
- Compatible with MetaTrader 4 and 5
- Great research tools like SmartOrder 2 and Pivot Points Indicator
- Daily Market Analysis videos
- Free unlimited demo paper trading account
- One to One training available
6. Libertex – Great for beginners
Libertex is a CySecregulated online broker, great for investors who are looking to trade CFDs on a wide variety of asset classes. Their market coverage combines 53 forex currency pairs, 45 cryptocurrencies, 10 commodities and a small range of US stocks and ETFs. The Libertex trading platforms are easy to use and cover all of the instruments beginners and average traders need for a solid trading experience.
Spreads are tight and there are no hidden fees. Minimum deposit is $100. The responsive customer supports makes Libertex a great option for beginners traders. Professionals will miss a pro account option with additional trading features.
Pros
- Commission-free stock, forex, metals, and crypto trading
- Excellent multi-lingual customer support
- Compatible with MetaTrader 4 and 5
Cons
- No technical analysis tools offered
- Charges inactivity fees
- No Islamic swap-free accounts available
Key features
- Access to thousands of stocks and CFDs on stocks, forex, crypto, indices, metals, ETFs, and commodities
- Receive dividends into your account monthly
- Extensive education section with trading courses, webinars, and more
- Daily market update and analysis videos
- Unlimited free paper trading demo account
- State-of-the-art mobile trading app available on Android and iOS devices
How To Pick The Right Platform?
The main criteria to consider when choosing a trading platform in the Republic of the Congo 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 Republic of the Congo 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 Republic of the Congo 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 the Republic of the Congo
Online trading in the Republic of the Congo is available through the services of online brokers and cryptocurrency exchanges. There is no state stock exchange in the Republic of the Congo. Republic of the Congo citizens can participate in online trading through trusted brokers and trading apps mentioned in this guide.
Online trading is legal for Congo citizens. Capital profits made with online trading are subject to a 28% capital gain tax and also need to be reported to the government.
Online Trading Regulation
The Banking Commission of Central Africa (COBAC) regulates online trading and other financial activities in the Republic of the Congo. All the Republic of the Congo-based brokers and trading platforms that offer online trading services to the Congo citizens need to be authorised by the COBAC. The COBAS has the authority to withdraw the licence of brokers who does not work in compliance with their standards. Companies based abroad, can offer online trading services to Congo citizen without authorisation by the COBAC. Cryptocurrency trading is legal in the Republic of the Congo.
License Verification
You can verify the validity of a brokers license by calling the Central African Banking Commission at +237 223 4030 and asking if your broker or trading platform is regulated by them. If the broker is based outside of the Republic of the Congo, 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.
Conclusion
Based on our review, we consider OandA as the best trading platform for the Republic of the Congo residents. They offer a low minimum deposit, competitive fees, advanced charting tools, social trading features and a responsive customer support.
Interactive Brokers is the second best trading platform for the Republic of the Congo residents, because of their low fees, advanced trading tools, copy trading features, and a responsive customer support. eToro, Pepperstone, ActiveTrades, and Libertex are finishing up our list of top platforms with a great overall offer and above average ratings.
FAQ
Are There Commission-Free Trading Platforms In the Republic of the Congo?
Yes, there are trading platforms available in the Republic of the Congo that offer 0% commission trading like eToro.
How Much Should I Invest When Trading Online in the Republic of the Congo?
You should always invest at least the minimum deposit amount the Republic of the Congo and international brokers require you to open an account. In most cases, this is about $50.
Is Crypto Trading Available In the Republic of the Congo?
Yes, crypto trading is available to the Republic of the Congo 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 Republic of the Congo-based brokers, you can call the Central African Banking Commission at +237 223 4030 to ask if they regulate and supervise your broker or trading platform.
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Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.