Best Forex Brokers in Madagascar 2026
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top Forex brokers in Madagascar based on our analysis:
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AvaTrade - Best Forex broker in Madagascar - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
FP Markets - Robust regulation, serious fund protection plus segregated accounts in AA banks. Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server. Rich selection of trading platforms. - 3
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Eightcap - Support for popular platforms MT4, MT5, and integration with TradingView. Over 800 trading instruments, including 160+ cryptocurrency CFDs. Regulated by ASIC, FCA, CySEC, and SCB. - 5
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 6
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 7
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Deriv - Simple and fast account opening process. A wide variety of account types cater to different trading needs. Low commission structure. - 10
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.
Whether you’re comparing fees, execution quality, or platform features, our selection focuses on brokers that offer reliable access to the FX market and modern tools for traders in Madagascar.
Comparison of the Best Forex Brokers in Madagascar
| Broker |  AvaTrade |  FP Markets |  IC Markets |
|---|---|---|---|
| Rating | 4.7/5 | 4.7/5 | 4.7/5 |
| Foundation Year | 2005 | 2005 | 2007 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Australia, Cyprus, South Africa, Saint Vincent and the Grenadines, Seychelles | Seychelles, Australia, Cyprus, Kenya |
| Regulators | Central Bank of Ireland Central Bank of Ireland KNF KNF FCA FCA BVIFSC BVIFSC ASIC ASIC FSCA FSCA JFSA JFSA JFFA JFFA FSRA FSRA ISA ISA CIRO CIRO | ASIC ASIC CySEC CySEC FSCA FSCA SVGFSA SVGFSA SFSA SFSA | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA |
| Minimum Deposit |
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| Trading Accounts |
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| Spread | from 0.6 points | from 0 points | from 0 points |
| Trading Assets (CFDs) |
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| Review | AvaTrade Review | FP Markets Review | IC Markets Review |
| Broker Comparison | |||
| RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds |
List of the Best Madagascar Forex Brokers for 2026
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. FP Markets
FP Markets successfully combines a strict licensing framework, a fast ECN order book with zero spreads, a rich selection of platforms — ranging from classic MT4/5 to TradingView and Iress DMA — and a developed analytics, education, and 24/7 support infrastructure. This combination makes the broker attractive for active scalpers and algorithmic traders who value speed and moderate commission per lot, as well as for investors preferring copy trading, PAMM/MAM, or DMA stocks via Iress. Beginners will benefit from a low entry of 100 AUD, online courses, and no inactivity fees.
Pros and Cons of FP Markets
Pros
- Robust regulation, serious fund protection plus segregated accounts in AA banks.
- Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server.
- Rich selection of trading platforms.
- Wide range of instruments.
- Numerous deposit/withdrawal methods.
- Strong analytics and education.
- 24/7 support.
Cons
- Lack of cent accounts and fixed spread accounts.
- Some analytical materials and software are accessible only with a deposit or trading volume.
3. IC Markets
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
4. Eightcap
Eightcap is a modern broker with reliable regulation, convenient MT4, MT5, and TradingView platforms, and a wide selection of instruments, including over 160 cryptocurrency CFDs. It suits traders who value technology, fast market access, and competitive trading conditions. The broker will be especially interesting for active traders and those who use CFD instruments, but is less convenient for investors seeking passive trading solutions.
Pros and Cons of Eightcap
Pros
- Support for popular platforms MT4, MT5, and integration with TradingView.
- Over 800 trading instruments, including 160+ cryptocurrency CFDs.
- Regulated by ASIC, FCA, CySEC, and SCB.
- Convenient deposit and withdrawal methods with no fees.
- Modern analytics tools: AI economic calendar and FlashTrader for MT5.
Cons
- No cent or Islamic accounts.
- No passive trading solutions (copy trading, PAMM).
5. RoboForex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
6. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
7. Plus500
Plus500 is ideal for traders seeking a convenient and intuitive platform with a broad spectrum of trading instruments. It's particularly well-suited for those who value a diverse range of CFDs on stocks, indices, currencies, commodities, and ETFs. The built-in Insight+ analytics tool is a significant advantage for those keen on analyzing trends and activities based on real-time data.
Pros and Cons of Plus500
Pros
- Diversity of trading assets.
- Intuitive trading platform.
- 24/7 support.
- Built-in analytics.
Cons
- Limited channels for communication with technical support.
- Limited choice of trading accounts.
8. Exness
Broker Exness is one of the most attractive companies offering brokerage services for clients worldwide in the Forex market.
Partnership with leaders in financial analytics, minimal commissions, numerous positive client reviews, a well-established operational scheme, and a decent selection of real assets and account currencies makes trading with the broker profitable and secure.
Pros and Cons of Exness
Pros
- Wide selection of trading accounts.
- Instant fund withdrawal.
- Variety of trading platforms.
- A variety of analytical tools.
Cons
- Limited selection of educational materials.
- Average selection of markets and products.
- Deposit fees.
9. Deriv
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
10. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
Regulation of Forex Brokers in Madagascar
Forex is a global market, so there isn’t a single “world regulator” that oversees every broker. For traders in Madagascar, the practical approach is to choose brokers that are regulated by reputable authorities in their home jurisdictions and that provide transparent client protections.
When evaluating regulation, pay attention to:
- License and oversight: the broker should clearly display its regulatory status and legal entity details.
- Client money protection: segregation of client funds, clear withdrawal rules, and strong operational transparency.
- Risk controls: negative balance protection (where available), margin policies, and clear disclosures.
- Support and dispute handling: responsive customer support and a documented complaint process.
Note: Broker availability and legal entity (and therefore protections) can vary by country. Always confirm the exact entity you’re registering with before depositing.
How We Compiled the List of the Best Forex Trading Platforms in Madagascar
The selection of brokers was based on well-balanced criteria:
- The ranking is derived from our overall broker scoring methodology.
- The best-performing brokers scored highly across key areas like costs, execution, platform quality, and trust factors.
- The listed companies generally provide services accessible to traders in Madagascar (availability may vary by entity).
These standards help ensure our list highlights brokers that aim to meet reliability expectations and provide trading conditions suitable for real-world FX trading.
FAQ
Who is the best Forex broker in Madagascar?
There isn’t a single “best” broker for everyone - your choice depends on what matters most to you (spreads/commissions, platform, deposits/withdrawals, regulation, and customer support). Start by comparing the brokers in our list above, then confirm the broker’s regulated entity and the exact trading conditions offered to clients in Madagascar.
What broker is best for Forex trading platforms and tools?
If your priority is platform quality, look for brokers that offer stable execution, advanced charting, risk tools, and mobile/web access. Many traders also prefer brokers that support popular third-party platforms (like MetaTrader) alongside proprietary platforms.
Which Forex trading platform is best?
“Best” depends on your style:
- Beginners: simple interface, strong education, and risk controls
- Active traders: fast execution, low costs, advanced order types
- Multi-asset traders: access to FX plus indices, commodities, and stocks (as CFDs)
Is $100 enough to start Forex?
It can be enough to open an account with some brokers, but a small balance can make risk management harder (because even small market moves can represent a large percentage of your account). Many traders start with a demo account first, then use small position sizes when going live.
How to start Forex trading in Madagascar?
A practical checklist:
- Choose a regulated broker and verify the entity available to Madagascar clients
- Open a demo account to learn the platform
- Fund a live account only with money you can afford to risk
- Use strict risk management (position sizing, stop-loss, limits)
- Track results and review your strategy regularly
Can I trade both Forex and CFDs with brokers in Madagascar?
Yes. Many Forex brokers that accept clients from Madagascar also provide access to CFDs, letting you trade not only currency pairs but also indices, commodities, stocks, and crypto (as CFDs), depending on the broker. Since product availability, fees, and leverage can vary, it’s worth comparing dedicated CFD options as well - see our list of the best CFD trading platforms in Madagascar.
Is trading Forex gambling?
It can feel like gambling if it’s done without a plan, risk limits, or a repeatable method. With education, structured risk management, and a tested strategy, it becomes a form of speculative investing - but it still carries significant risk.
Can Muslims trade Forex?
Some brokers offer Islamic (swap-free) accounts, designed to avoid overnight interest (swap). Whether a specific product is compliant can depend on details and personal interpretation, so many traders consult a qualified religious advisor and carefully review the broker’s swap-free terms.
Which Forex broker is “halal”?
Brokers may market Islamic/swap-free accounts, but “halal” status depends on the account structure and your criteria. If this matters to you, confirm:
- whether swaps are fully removed (not replaced by hidden fees),
- how the broker handles extended holding periods,
- what instruments and conditions are included.
