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Best Forex Brokers in Senegal

Forex trading is legal in Senegal but the retail trading volume remains low. The country lacks policies and a thorough regulatory framework for trading activities. Therefore, traders mostly depend on internationally regulated brokers. To help you trade with only the best, we compared 100+ brokers in areas like leverage, commissions, spreads, tradable assets, and much more. The following are our best picks.

Order by
11IC Markets trusted Investor protectionBonusIC Markets Exclusive Bonus ProgramBest For Tight SpreadsMin deposit $200Max leverage 1:500Regulated by ASIC, CySECAdd to compare listRating 4.6 / 5Start trading
Pros, cons & fees
Specialized trading accountsTight SpreadsLow commissionsRead review
Pros

  • Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.

  • Offers low average spreads and competitive pricing for all account types.

  • Provides plugins for third-party research and trading tools.

Cons

  • Limited product offerings.

  • No investor protection for traders outside the European Union.

  • No weekend trading, extra bonuses or promos.

Withdrawal fee $0Deposit fee $0
12PU Prime trusted Investor protectionBonusFirst Deposit Cashback Bonus by PU Prime100% of Your Deposit Matched in Bonus CreditMin deposit $20Max leverage 1:1000Regulated by ASIC, FSCA, FSA +1Add to compare listRating 4.6 / 5Start trading
Pros, cons & fees
24/7 Multilingual Customer ServiceProprietary Copy Trading AppRead review
Pros

  • Wide Range of Account Types: PU Prime provides a variety of account types designed to suit different trading styles and experience levels, from beginners to advanced traders.

  • Great Leverage: Control larger positions using minimal capital, thanks to leverage of up to 1:1000. This allows you to maximize opportunities in the market but remember, while higher leverage can enhance potential gains, it also increases risk.

  • 24/7 Multi Channel Support: Round-the-clock assistance is provided by PU Prime through multiple channels, including live chat, email, and phone support. Services are offered in 18 languages, ensuring accessibility for a diverse range of traders.

Cons

  • Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.

  • High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts

  • No EU Regulations: Despite being regulated by 4 authorities, including top-tier ASIC, the broker does not offer dedicated EU regulation for European clients.

Withdrawal fee $0Deposit fee $0
13Forex.com trusted Investor protectionBonusWelcome Bonus Offer by Forex.comBest Trading PlatformsMin deposit $100Max leverage 1:50Regulated by FCA, CFTC, NFA +3Add to compare listRating 4.6 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Top-Tier Regulation

  • Low Forex Fees

  • No Withdrawal Fees

Cons

  • High Stock CFD Fees

  • Limited Product Portfolio

  • User Interface Could Be More Intuitive

Withdrawal fee $0Deposit fee $0
14OANDA trusted Investor protectionBonusUp to $25,000 welcome bonusUS ClientsMin deposit 0Max leverage 1:50Regulated by CFTC, NFAAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
Read review
Pros

  • OANDA is among the few international online forex brokers that accept U.S. clients.

  • The broker's trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.

  • OANDA does not require a fixed initial deposit on the standard account.

Cons

  • OANDA's financial offerings have some irregularities that may only suit some traders

  • -Trading on OANDA may incur several fees, including a monthly inactivity fee

15AXITrader trustedBonusAxi No Deposit BonusBest For Instant Trade ExecutionMin deposit $5Max leverage 1:1000Regulated by ASICAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
24/7 instant money withdrawalFree VPS hostingSpecialized trading accountsRead review
Pros

  • No obligation demo accounts with US$50,000 of virtual funds to practice with

  • 24/5 Customer support available

  • Multilingual support in 14 languages

Cons

  • Limited trading platform options

  • Limited trading instruments

  • Only forex and CFD trading

16FP Markets trusted Investor protectionBonusRefer a Friend Program by FP MarketsBest Tradable InstrumentsMin deposit $50Max leverage 1:500 (1:30 for EU clients)Regulated by ASIC, FIU, FSAAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
Free VPS hostingSpecialized trading accountsRead review
Pros

  • Excellent customer support with 24/7 availability

  • Competitive spreads and fast execution speeds

  • Comprehensive educational resources including webinars and video tutorials

Cons

  • Limited range of tradable assets compared to some competitors

  • Higher minimum deposit for certain account types

  • No proprietary mobile app (relies on MT4/cTrader mobile)

Withdrawal fee $0Deposit fee $0
17TradeQuo trusted Investor protectionBonus30% deposit bonusMultilingual Customer SupportMin deposit $1Max leverage UnlimitedRegulated by FSA, FSU, SCA +1Add to compare listRating 4.5 / 5Start trading
Pros, cons & fees
24/7 Customer SupportVery High LeverageRead review
Pros

  • Multiple Regulations: Multi-regulated broker with licenses from Seychelles (FSA), South Africa (FSCA), Dominica (FSU), and UAE (SCA).

  • Extremely High Leverage and Low Trading Costs: You can trade with up to 1:1000, 1:2000, and even “limitless” on special accounts with negative balance protection available. TradeQuo offers spreads as low as zero pips on some major pairs (depending on the account type).

  • Extensive Range of Tradable Assets: The broker gives you access to 350+ tradable instruments over forex, stocks, indices, commodities, and cryptocurrencies.

Cons

  • Not Available in Certain Jurisdictions: The company does not accept clients from US, EU, UK, and Canada among others due to regulatory restrictions.

  • No Call Support: TradeQuo does not offer call support at the time of writing this review.

  • Islamic Account Option Only Available on Request: Islamic accounts are available but not as a standard account type. They are only available upon request.

Withdrawal fee $0Deposit fee $0
18Neomarkets trustedBonus25% deposit bonusBest Execution On TransactionsMin deposit $20Max leverage 1:500Regulated by FIUAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
24/7 instant money withdrawalAffiliate ProgramRead review
Pros

  • NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.

  • NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.

  • NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.

Cons

  • NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.

  • To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.

  • NeoMarkets' website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.

Withdrawal fee $0 (conditions apply)Deposit fee $0
19ActivTrades trusted Investor protectionBonusUp to $500 refer-a-friend rewardBest For Instrument Specific InsightsMin deposit 0$Max leverage 1:400 (1:30 for EU)Regulated by FCA, AMFAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Solid Regulatory Oversight

  • Fast Execution Speeds

  • Innovative Trading Tools

Cons

  • Limited Asset Range

  • Commissions and Fees

  • Mixed Customer Support Reviews

Withdrawal fee 0$Deposit fee 0$
20LiteFinance trustedBonusLiteFinance Deposit Compensation and Forex BonusesBest High Tech BrokerRegulated by CySECAdd to compare listRating 4.5 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hosting24/7 instant money withdrawalRead review
Pros

  • 24-hour support

  • Supports MetaTrader 4 and MetaTrader 5 and their mobile and web versions

  • Variety of deposit/withdrawal methods

Cons

  • VPS is not free of charge

  • A limited selection of tradable instruments

  • Unavailable to US retail clients

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Our ranking methodology and selection process