Best Forex Brokers in Africa for 2025
Finding a dependable broker in a crowded marketplace is not easy, which is why we have done the heavy lifting for you. Our team reviewed a wide field of providers and distilled the results into a concise shortlist of the Best Forex Brokers in Africa for 2025, highlighting firms that consistently deliver strong performance across the metrics that matter.
Regulation was our first filter. We focused on brokers authorised by respected regulators, for example the Capital Markets Authority (CMA) in Kenya and the FSCA in South Africa. This emphasis on licensing and oversight helps ensure robust client-money rules, clearer disclosure and greater confidence that funds are properly safeguarded.
From there, we examined the features most relevant to traders across the continent, including pricing and trading conditions, platform choice, service quality and overall reputation. Only licensed firms that demonstrate reliable execution, competitive products and useful, locally tailored features were included in the final selection. For South African readers, you can also explore our dedicated guide to the Best Forex Brokers in South Africa 2025.
Best Africa Brokers Leaderboard
AvaTrade
Rating: 4.45 / 5
1,250+ Instruments Local Payment Methods Proprietary Platforms Good Education Section 24/7 Customer Support
FBS
Rating: 4.3 / 5
550+ Instruments Good Presence in Africa Instant Withdrawals Localised SM Channels 24/7 Customer Support
*Trading carries a risk of loss
XM
Rating: 4.3 / 5
1,000+ Instruments No Account Funding Fees Excellent ‘Learning Center’ Varied Analytical Tools
IronFX
Rating: 4.15 / 5
500+ Instruments Multiple Account Types Dedicated Trader Academy Copy Trading Options
FXGT
Rating: 4.1 / 5
60+ Currency Pairs Local Payment Methods Wide Choice of Accounts 24/7 Customer Support
Score Breakdown
See the breakdown showing how the Best Forex Brokers in Africa for 2025, performed across six important criteria in our FX Trust Score Index. You can also see where these brokers rank in our full Broker Data Index.
| Regulatory Compliance | Security & Fund Protection | ||
| AvaTrade | 5/5 | AvaTrade | 5/5 |
| FBS | 5/5 | FBS | 5/5 |
| IronFX | 5/5 | FXGT.com | 5/5 |
| XM | 5/5 | IronFX | 5/5 |
| FXGT.com | 3/5 | XM | 5/5 |
| Customer Support | Localisation | ||
| FXGT.com | 5/5 | AvaTrade | 4/5 |
| AvaTrade | 3/5 | FBS | 4/5 |
| FBS | 3/5 | FXGT.com | 4/5 |
| IronFX | 3/5 | IronFX | 4/5 |
| XM | 3/5 | XM | 4/5 |
| Local Payment Methods | Online Reputation | ||
| AvaTrade | 4/5 | AvaTrade | 5/5 |
| FBS | 4/5 | FBS | 4/5 |
| FXGT.com | 4/5 | FXGT.com | 4/5 |
| XM | 4/5 | IronFX | 4/5 |
| IronFX | 3/5 | XM | 3/5 |
*Where scores are tied, brokers are listed in alphabetical order.
Broker Review Rating Comparison
Marks out of 5 stars
AvaTrade rating 4.45 / 5
FBS rating 4.3 / 5
XM rating 4.3 / 5
IronFX rating 4.15 / 5
FXGT rating 4.1 / 5
The FXTS Verdict
AvaTrade takes first place as the Best Forex Broker in Africa for 2025, earning high marks across security, regulatory standing and day-to-day usability. Available to clients in Ghana, Kenya and Nigeria, the broker combines wide market coverage with local payment options and responsive 24/7 support. Its FSCA (South Africa), ASIC (Australia) and Japan FSA licences, among others, reinforce a strong compliance profile.
The remaining brokers in our top five also maintain a meaningful presence in key African markets. FBS edged XM into second on a tie-break thanks to superior localisation, including multiple local funding methods and active, country-specific social channels. XM scored well for its range of account types, analytical tools and education. IronFX stood out for its copy-trading options and Africa-focused promotions, while FXGT.com rounded out the list with a solid account line-up and an extensive choice of local payment methods.
How did we choose the Best Forex Brokers in Africa for 2025?
We began by excluding unregulated firms, shortlisting only brokers with clear, verifiable licences and an established African footprint. This step ensures the options presented meet high standards around client-fund protection, pricing transparency and disclosure.
Each shortlisted broker’s website and public materials were then reviewed with an eye to service quality in Ghana, Kenya and Nigeria in particular. We assessed support availability, language coverage, local phone lines and physical offices where applicable, alongside platform features and day-to-day trading conditions. Finally, we evaluated local deposit and withdrawal options to understand how well each broker serves African clients in practice.
All findings were scored within the FX Trust Score Index, producing the overall ratings that underpin our leaderboard. The result is a clear, evidence-based view of the Top-Rated African Forex Brokers for 2025.
FAQs
Yes, you can trade forex in Africa. It’s legal in many countries across the continent, including in Ghana, Kenya, Nigeria, South Africa, and Egypt. To begin trading forex in Africa, you’ll need a reliable internet connection, open a trading account, and have some initial capital to deposit funds. You should always choose a licensed broker because it offers a greater level of security and protection for your investments. To discover the best regulated brokers in Africa, simply scroll up to check out our top five leaderboard.
The best forex broker in Africa largely depends on what your individual trading needs and preferences are but as a general rule, the better brokers tend to be licensed entities like the Kenyan Capital Markets Authority (CMA). Other factors to consider when choosing a broker include the trading conditions, available platforms, potential fees, customer support, and quality of its educational section. It’s also worth researching whether a broker that offers local payment methods, responsive customer service, and resources tailored to the African market. You can compare the best forex brokers in Africa by checking out the FX Trust Score guide above.
It’s difficult to put a figure on how many forex traders there are in Africa, with some estimates indicating that around 1.3 million active traders are operating within the entire continent. However, this number could be even greater, with hotspot areas like South Africa, Kenya, and Nigeria experiencing a growth in popularity for those participating in the world of online trading.
Some forex brokers offer trading pairs that include local African currencies such as the South African Rand (ZAR), Nigerian Naira (NGN), or Kenyan Shilling (KES). Availability of local currency pairs can be beneficial due to the trader’s familiarity with these currencies and their market behaviours.
Look for brokers that offer convenient deposit and withdrawal options that are accessible and cost-effective in Africa. These might include local bank transfers, major credit/debit cards, and popular eWallets. Additionally, consider the speed of these transactions and any associated fees.
Regulatory oversight varies by country within Africa. For instance, South Africa’s forex brokers are regulated by the Financial Sector Conduct Authority (FSCA). It’s important to choose a broker regulated by a reputable authority to ensure transparency and security in trading.
Publication date:
10/09/2024
Author: FX Trust Score
Last updated on November 21, 2025
