Best Forex Brokers in Sao Tome and Principe for 2024

Last updated Jul 2, 2024

We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the best Forex brokers in Sao Tome and Principe based on our analysis:

  1. 1
    IC Markets Logo
    IC Markets - Best Forex broker in Sao Tome and Principe - A wide range of trading assets. Low spreads. Variety of trading platforms.
  2. 2
    AvaTrade Logo
    AvaTrade - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources.
  3. 3
    Roboforex Logo
    Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts.
  4. 4
    FxPro Logo
    FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools.
  5. 5
    AMarkets Logo
    AMarkets - A wide range of trading assets. Extensive analytical capabilities using modern tools and trading robots. No commissions on many operations.
  6. 6
    Deriv Logo
    Deriv - Simple and fast account opening process. A wide variety of account types cater to different trading needs. Low commission structure.
  7. 7
    Admirals Logo
    Admirals - Low trading fees. Wide range of payment methods. Extensive analytical resources.
  8. 8
    HF Markets Logo
    HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews.
  9. 9
    FBS Logo
    FBS - Regulated by major international organizations. Low spreads and commissions. Wide range of trading assets.
  10. 10
    XM Logo
    XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account.

This in-depth guide is designed to assist you in selecting a broker that perfectly matches your trading strategy while protecting your investments. Each broker highlighted here distinguishes itself by offering exceptional services, state-of-the-art technology, and strong security protocols, ensuring an excellent trading experience in Sao Tome and Principe's dynamic Forex market.

List of the Best Forex Brokers in Sao Tome and Principe in 2024

1
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2007
Minimum Deposit
$200
2
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2005
Minimum Deposit
$100
3
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2009
Minimum Deposit
$10
4
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2006
Minimum Deposit
$100
5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2007
Minimum Deposit
$100
6
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2020
Minimum Deposit
$1
7
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2001
Minimum Deposit
$1
8
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2009
Minimum Deposit
$1
9
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2007
Minimum Deposit
$5
10
RegisterTrading CFDs carries high risks. You may lose all invested funds
Foundation Year2009
Minimum Deposit
$5

We have meticulously researched numerous firms to identify the most reliable and user-friendly online Forex trading brokers in Sao Tome and Principe. This section is dedicated to providing comprehensive reviews of the top Forex brokers in Sao Tome and Principe, carefully designed to help you make an informed decision. Our reviews offer detailed profiles of each broker, enriched with genuine feedback from traders with firsthand experience of their services. Whether you are just beginning your CFD and Forex trading journey or seeking the perfect partner to navigate the complexities of the financial markets, our in-depth broker reviews aim to help you avoid common pitfalls and guide you toward the most suitable trading platform to achieve your financial goals in 2024.

1. IC Markets

IC Markets Logo
1
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsETFPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 5MetaTrader 4cTraderTradingView
Deposit/withdrawal:
Логотип PayPal
Логотип Neteller
Логотип Skrill
Логотип Bpay
Логотип FasaPay
Логотип Klarna
Логотип Swift
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип UnionPay
Логотип POLi
Логотип Rapidpay
compare IC Markets trading accounts

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

  1. A wide range of trading assets.
  2. Low spreads.
  3. Variety of trading platforms.
  4. Quality educational materials.
  5. Efficient customer support service.

Cons

  1. High minimum deposit.

2. AvaTrade

AvaTrade Logo
2
RegisterTrading CFDs carries high risks. You may lose all invested funds
Trading Assets
ForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTraderAvaTradeGO
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Perfect Money
Логотип Google Pay
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип JCB
compare AvaTrade trading accounts

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

  1. A wide selection of financial assets.
  2. Innovative trading platforms.
  3. Highly rated educational resources.

Cons

  1. Limited trading account options.
  2. Account inactivity fee.

3. RoboForex

Roboforex Logo
3
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Regulators:
Trading Assets
ForexIndicesStocksETFPrecious MetalsEnergy CarriersSoft CommoditiesFutures
Trading Platforms
MetaTrader 5MetaTrader 4R WebTraderR MobileTraderR StocksTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип AdvCash
Логотип Perfect Money
Логотип Касса24
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип JCB
compare Roboforex trading accounts

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

  1. A variety of trading platforms.
  2. Over 12,000 trading assets.
  3. Different types of trading accounts.
  4. Competent 24/7 customer support.
  5. Loyalty programs and bonus offers for clients.
  6. Low spreads and fees.

Cons

  1. Regulation in an offshore jurisdiction.
  2. Beginner traders may find a lack of educational materials.

4. FxPro

FxPro Logo
4
4.4/5
FxPro review
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 4FxPro EdgeMetaTrader 5cTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Perfect Money
Логотип Swift
Логотип SEPA
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип UnionPay
compare FxPro trading accounts

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

  1. Various trading platforms.
  2. A diverse range of available markets and products.
  3. Multiple analytics tools.
  4. Extensive educational materials.

Cons

  1. An inactivity fee.
  2. Absence of cent accounts and services for copying trades.

5. AMarkets

AMarkets Logo
5
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksBondsPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 5MetaTrader 4
Deposit/withdrawal:
Логотип Perfect Money
Логотип Neteller
Логотип FasaPay
Логотип Bank Transfer
Логотип Система быстрых платежей (СБП)
Логотип Visa
Логотип Mastercard
Логотип Мир
Логотип HUMO
compare AMarkets trading accounts

AMarkets is a versatile broker offering a full range of services in the Forex market. It enables independent trading and investing funds in copy trading with equal success.

Traders can access several accounts with low spreads, permitted scalping, and fast trade execution. Up-to-date analytics, valuable services, and rapid fund withdrawal support a stable technical platform.

Investors who are not keen on engaging in independent trading can still achieve significant profits by copying the trades of successful traders. Building a portfolio is time-efficient and offers the possibility of passive income.

Pros and Cons of AMarkets

Pros

  1. A wide range of trading assets.
  2. Extensive analytical capabilities using modern tools and trading robots.
  3. No commissions on many operations.
  4. Convenience and simplicity of opening an account and managing it.

Cons

  1. Not the most extensive educational materials.
  2. On some assets, spreads are higher than those of competing Forex brokers.

6. Deriv

Deriv Logo
6
4.3/5
Deriv review
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesCryptocurrencyStocksETFPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 5Deriv XcTrader
Deposit/withdrawal:
Логотип FasaPay
Логотип Perfect Money
Логотип Skrill
Логотип Neteller
Логотип WebMoney
Логотип PaySafeCard
Логотип Jeton
Логотип SticPay
Логотип Airtm
Логотип Boleto
Логотип Paylivre
Логотип OnlineNaira
Логотип Beyonic
Логотип AstroPay
Логотип 1foryou
Логотип AdvCash
Логотип Swift
Логотип Visa
Логотип Mastercard
Логотип Maestro
Логотип Diners Club
Логотип JCB
Логотип PayTrust88
Логотип Help2pay
Логотип DragonPhoenix
Логотип ZingPay
Логотип Ngan Luong
Логотип Trustly
compare Deriv trading accounts

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

  1. Simple and fast account opening process.
  2. A wide variety of account types cater to different trading needs.
  3. Low commission structure.
  4. A wide range of trading platforms.
  5. High-quality technical support with fast and effective responses.

Cons

  1. Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
  2. Educational materials are confined to a blog and lack comprehensive learning resources.

7. Admirals

Admirals Logo
7
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersSoft CommoditiesCryptocurrencyStocksETF
Trading Platforms
MetaTrader 4MetaTrader 5
Deposit/withdrawal:
Логотип Skrill
Логотип Neteller
Логотип Perfect Money
Логотип Swift
Логотип Visa
Логотип Mastercard
compare Admirals trading accounts

The broker Admirals is suitable for a broad spectrum of traders. With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders.

Beginners seeking detailed educational resources and support will undoubtedly appreciate this broker. Experienced traders will also find it beneficial due to competitive trading commissions, abundant tools for analysis and trading, and the convenience of the depositing and withdrawal process.

Pros and Cons of Admirals

Pros

  1. Low trading fees.
  2. Wide range of payment methods.
  3. Extensive analytical resources.
  4. A rich collection of educational materials.

Cons

  1. Inactivity fee.
  2. Some users complain about the intrusiveness of the support service.

8. HF Markets

HF Markets Logo
8
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexStocksIndicesBondsETFCryptocurrencyPrecious MetalsEnergy CarriersSoft Commodities
Trading Platforms
MetaTrader 4MetaTrader 5WebTrader
Deposit/withdrawal:
Логотип Skrill
Логотип Perfect Money
Логотип FasaPay
Логотип BitPay
Логотип Bank Transfer
Логотип Visa
Логотип Mastercard
compare HF Markets trading accounts

HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.

HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.

Pros and Cons of HF Markets

Pros

  1. Regulated by reputable financial authorities.
  2. Wide selection of trading assets.
  3. A variety of educational materials and analytical reviews.

Cons

  1. There is no alternative to MetaTrader.
  2. High swaps and wide spreads.

9. FBS

FBS Logo
9
4.3/5
FBS review
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesStocksCryptocurrencyPrecious MetalsEnergy Carriers
Trading Platforms
MetaTrader 4MetaTrader 5FBS Trader
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип Perfect Money
Логотип SticPay
Логотип Visa
Логотип Mastercard
Логотип Maestro
compare FBS trading accounts

FBS is a reliable choice for traders who value a secure and regulated trading environment, complemented by a robust selection of educational resources and trading tools. It is particularly well-suited for those new to trading or looking to expand their knowledge and experienced traders focusing on a diverse range of assets. Despite its limitations in account types and currency options, FBS's strengths in providing competitive trading conditions and comprehensive support make it a commendable broker for a broad spectrum of traders.

Pros and Cons of FBS

Pros

  1. Regulated by major international organizations.
  2. Low spreads and commissions.
  3. Wide range of trading assets.
  4. Extensive database of educational materials and analytical tools.
  5. Support for various trading platforms.

Cons

  1. Limited choice of trading accounts.
  2. Limited choice of account currency.

10. XM

XM Logo
10
4.2/5
XM review
RegisterTrading CFDs carries high risks. You may lose all invested funds
Countries of registration:
Trading Assets
ForexIndicesStocksPrecious MetalsEnergy CarriersSoft CommoditiesCryptocurrency
Trading Platforms
MetaTrader 5MetaTrader 4
Deposit/withdrawal:
Логотип Neteller
Логотип Skrill
Логотип WebMoney
Логотип Perfect Money
Логотип SticPay
Логотип Visa
Логотип Mastercard
compare XM trading accounts

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

  1. Wide range of trading assets.
  2. Extensive educational resources.
  3. Tight spreads on the Ultra Low account.
  4. Many analytical materials.
  5. Commission-free deposits and withdrawals.

Cons

  1. Inconsistency in technical support.
  2. Inactivity fee.
  3. Standard account has a higher spread than the market average.

Regulation of Forex Brokers in Sao Tome and Principe

Forex trading in Sao Tome and Principe is legal and accessible without restrictions. However, it is important to note that Sao Tome and Principe does not have specific laws or regulations governing foreign exchange trading and brokerage. Forex trading takes place in an over-the-counter (OTC) market without a centralized exchange.

While the Central Bank of Sao Tome and Principe (Banco Central de São Tomé e Príncipe) oversees the flow of foreign currencies, it does not directly regulate or supervise forex trading. There is no formal licensing or regulatory system for forex brokers in Sao Tome and Principe. Consumer protections are addressed through general commercial codes and financial laws.

To verify a broker's legitimacy, traders can review the broker's website for any displayed regulatory status and seek out additional information through general financial resources. Ensuring a broker's reliability through these means helps create a safer trading environment.

How to Choose a Forex Broker in Sao Tome and Principe?

Choosing the right Forex broker is crucial for success in the global currency market. Traders in Sao Tome and Principe should consider several key aspects to ensure the broker aligns with their trading preferences and needs. The ideal broker will not only meet your requirements but also enhance your trading efficiency. Here are the important factors to consider when selecting a Forex broker in Sao Tome and Principe:

  1. Regulatory Compliance: Although Sao Tome and Principe lacks specific regulations for Forex trading, it is wise to opt for brokers regulated by reputable international authorities like the FCA, CySEC, or ASIC. This ensures the broker's reliability and adherence to fair trading practices.

  2. Account Types: Look for a broker that offers account types suitable for your level of experience and investment capacity. The broker should provide a variety of options tailored to your specific trading needs, whether you're a novice or an experienced trader.

  3. Trading Platforms: The effectiveness and user-friendliness of trading platforms are vital. Choose a broker that offers robust and intuitive platforms that can enhance your trading activities. Ensure the platform includes all the necessary tools and features for your trading strategy.

  4. Trading Conditions: Evaluate the broker's terms, such as Forex spreads, trading fees, minimum deposit requirements, and the range of available trading instruments. Ensure these conditions align with your trading strategies and provide competitive advantages.

  5. Customer Support: Review the quality of customer support, focusing on their responsiveness and efficiency. The broker should offer multiple communication channels, such as live chat, email, and phone support, to promptly address any issues or questions.

Selecting the best broker involves careful consideration of these factors. Starting with a demo account is advisable to assess the broker's services and compatibility with your trading approach. This allows you to test the platform and ensure the broker's suitability without risking real capital.

How We Compiled the List of Top Forex Brokers in Sao Tome and Principe

Our process for identifying the best Forex trading platforms in Sao Tome and Principe was conducted with meticulous precision and a comprehensive set of criteria:

  1. We started by creating a Forex brokers list that met our predefined benchmarks. Each broker was rigorously evaluated using a detailed assessment methodology to impartially analyze their services and operational efficiency.

  2. We prioritized brokers regulated by respected financial authorities such as the FCA, ASIC, and CySEC. This ensures the brokers operate transparently and adhere to strict financial standards.

  3. Brokers were assessed based on their trading conditions, including spreads, fees, minimum deposits, and the range of available trading instruments. We also evaluated the quality and usability of their trading platforms, favoring those offering popular platforms like MetaTrader 4 and MetaTrader 5, as well as proprietary platforms with advanced features.

  4. The quality of customer support was a crucial factor, focusing on the availability of support in relevant languages and accessible communication channels. Additionally, we considered brokers that offer localized services, such as websites and educational resources tailored to the needs of traders in Sao Tome and Principe.

  5. Genuine feedback from traders who have used these brokers firsthand was incorporated to provide a well-rounded view of each broker's strengths and weaknesses. This includes aspects like ease of use, customer service experiences, and overall satisfaction.

By following this thorough evaluation process, we ensured that our list of top Forex brokers in Sao Tome and Principe is reliable and trustworthy, helping traders make informed decisions in the dynamic Forex market.

Conclusion

Choosing the right Forex broker is essential for successfully navigating the market. Key factors to consider include the broker's reputation, adherence to regulatory standards, trading conditions, and the quality of customer support. Our carefully curated list of the best Forex brokers in Sao Tome and Principe for 2024 is designed to simplify this critical decision. It provides detailed insights and comprehensive information based on thorough research and genuine user feedback. Our aim is to offer invaluable assistance in identifying a broker that not only meets but exceeds your trading needs, thereby paving the way for financial success and a rewarding Forex trading journey in Sao Tome and Principe.

FAQ

Which is the safest Forex broker?

The safest Forex brokers are those regulated by reputable financial authorities such as the FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commission), and ASIC (Australian Securities and Investments Commission). These regulators enforce strict standards to ensure the safety and security of traders' funds. For more information, check out this list of regulated Forex brokers.

Which broker do most traders use?

Many traders prefer brokers like IC Markets, AvaTrade, and XM due to their strong reputation, regulatory compliance, and extensive range of trading instruments. These brokers offer reliable trading platforms and excellent customer support.

Which broker is best for beginners?

For beginners, brokers like eToro, XM, and FXTM are often recommended. They offer user-friendly platforms, educational resources, and demo accounts to help new traders learn and practice without risking real money. For more options, check out the best Forex Brokers for beginners.

Yes, Forex trading is legal in Sao Tome and Principe. However, the country does not have specific regulations governing Forex trading and brokerage. Traders should choose brokers regulated by reputable international authorities.

How to Open a Forex Account in Sao Tome and Principe?

To open a Forex account in Sao Tome and Principe, follow these steps:

  1. Choose a reputable Forex broker.
  2. Visit the broker's website and complete the registration form.
  3. Submit the required identification documents for verification.
  4. Fund your account using the available deposit methods.
  5. Start trading once your account is approved.

At what age are local investors allowed to trade Forex in Sao Tome and Principe?

Local investors in Sao Tome and Principe must be at least 18 years old to trade Forex. This is the legal age for entering into financial contracts.

Who is the regulatory authority of financial services in Sao Tome and Principe?

The Central Bank of Sao Tome and Principe (Banco Central de São Tomé e Príncipe) oversees the financial services sector, including the flow of foreign currencies, but it does not directly regulate Forex trading.

What is the local currency in Sao Tome and Principe?

The local currency in Sao Tome and Principe is the Sao Tome and Principe Dobra (STN).

Is it profitable to trade Forex in Sao Tome and Principe?

Trading Forex can be profitable, but it also carries significant risks. Success in Forex trading depends on various factors, including market knowledge, trading skills, and risk management strategies. Traders in Sao Tome and Principe should ensure they are well informed and prepared before engaging in Forex trading.

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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