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- 1. Compare top 6 best forex brokers in Cape Verde for 2023
- 2. What is the best forex broker in Cape Verde?
- 3. Top 6 online forex brokers Cape Verde, reviewed
- 4. How we chose the best Cape Verde forex brokers
- 5. More about the best forex trading platforms in Cape Verde
- 6. How to trade forex in Cape Verde
- 7. FAQs
Compare top 6 best forex brokers in Cape Verde for 2023
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Our expert panel tested all the best forex brokers in Cape Verde and rated their features according to 8 key criteria, including regulatory status, the range of currency pairs on offer, and overall trading experience.
The panel set out to answer the question: what’s the best forex trading app in Cape Verde for Cape Verdean users?
Read our verdict for Cape Verde below to compare the best forex trading platforms.
What is the best forex broker in Cape Verde?
Our experts rank Exness as the best forex broker in Cape Verde.
The list below shows the three best Cape Verdean forex brokers. These are the top forex trading apps in Cape Verde for their security, service, and support.
Top 6 online forex brokers Cape Verde, reviewed
1. Exness. Best for tight spreads and a pro-style trading experience.
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No. assets
…
Minimum deposit
Forex
Platform type
Pros & Cons
Overview
We love Exness because it offers tight spread trading and a bespoke trading experience. Exness offers including 100+ forex pairs, including all major and minor pairs alongside a large range of exotic pairs.
Exness offers a great range of pro-style trading tools and a variety of account types to suit all experience levels. Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the Exness terminal or plug it into the MetaTrader software and trade from there.
The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 1 pip on major forex pairs. Overnight fees apply on some assets (exc. swap-free accounts).
2. Skilling. Best app for mobile trading
70
No. assets
$100
Minimum deposit
Forex
Platform type
Pros & Cons
Overview
We love Skilling because it’s a beginner-friendly platform that makes commodity trading accessible to everyone. You can trade 73 forex pairs on Skilling and the system is very portable, so you can access it from the app or on your desktop.
One of Skilling’s best features is its compatibility with TradingView, so you can chart trading ideas and then send them directly to your trading account. It also boasts plenty of other user-friendly software to make it easy to trade from your phone or your browser, including its proprietary Skilling Trader and the cTrader platform for professionals.
The fees: There are no fees for standard account types. Skilling makes its money on the Bid/Ask spread, and forex spreads start from 0.7 points. Premium accounts are charged a commission which starts at $35 per million traded. Positions left open overnight will be charged swap fees, which vary depending on the trade size.
3. Pacific Union. Best for social trading & customer support
200
No. assets
$50
Minimum deposit
Forex
Platform type
Pros & Cons
Overview
We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 30 forex pairs, including majors and minors.
It’s an award-winning broker with a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.
The fees: There are fees with Pacific Union, but it depends on your account type. Its standard account is commission free, but Bid/Ask spreads start at 1.3 pips. Pro accounts are charged a $3.5 RT per lot commission and have spreads starting from 0 pips. Swap charges for holding a trade overnight vary depending on size.
4. Capitality. Best for trading like a pro
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No. assets
…
Minimum deposit
Forex
Platform type
Pros & Cons
Overview
We love Capitality because it gives regular investors the means to trade with pro data and tools. Capitality offers 2100+ financial instruments, including 80 currency pairs.
The Capitality web trading terminal gives you access to live market data, real time quotes, and super-fast trade execution, all without needing to download anything. There’s also a free economic calendar that lets you know when the big financial events happen so you can plan your trades accordingly.
The fees: Capitality charges its fees through the spread. Spreads start from 0.1 pips for major forex pairs but can be significantly higher for minor and exotic pairs.
How we chose the best Cape Verde forex brokers
Our expert reviews panel is made up of currency traders with years of experience in the forex markets. It includes our Data Analyst, Dan Ashmore, Senior Editor of News, Jayson Derrick, and long-time forex trader, Prash Raval. The panel includes an independent fact checker, Richard Stutely.
Here are the 8 key criteria which the panel used to rate each platform.
- Regulation with a trusted financial institution. We only recommend forex brokers for beginners that are regulated in Cape Verde and offer top-tier protection to their clients.
- Low minimum deposit requirements. An accessible forex trading platform in Cape Verde, with a low minimum deposit, scored higher in our rankings.
- Mobile app availability. Our experts gave preference to the forex brokers in Cape Verde with the best forex trading apps.
- Number of currency pairs available to trade. We expect Cape Verde forex brokers to offer a comprehensive service where you can trade major, minor, and exotic currency pairs.
- Amount of leverage on offer. You need leverage to trade forex, so we looked for platforms that offered lots of leverage, within the limitations set by local Cape Verdean regulators.
- Tight spreads. We sought the best value for the average user. Small spreads mean a lower cost of trading.
- Lowest commissions and other fees. Our experts don’t like hidden fees and unexpected costs, so brokers with a clear fee structure performed well.
- Compatibility with trading software. Any Cape Verdean forex broker that offers integration with popular trading software like MetaTrader 4, MT5, or cTrader received a high rating.
More about the best forex trading platforms in Cape Verde
Which currency pairs can I trade in Cape Verde?
You can trade major, minor, and exotic pairs when you sign up for the best forex trading platform in Cape Verde. The majors and minors refer to the largest and most popular currencies paired with each other, while the ‘exotics’ are everything else.
- Major pairs. The major pairs are made up of the US Dollar paired with the other most highly traded currencies. Major pairs include: USD/EUR, USD/GBP, USD/JPY, USD/CHF, USD/AUD, USD/NZD, and USD/CAD.
- Minor pairs. The minor pairs include at least one of the Euro, British Pound, or Japanese Yen paired with other large currencies, but do not include the US Dollar.
- Exotic pairs. Exotic pairs include a major currency ‘crossed’ with a developing currency. There are many exotic pairs but they include things like GBP/HUF, EUR/MXN, and JPY/ZAR.
What forex markets are available in Cape Verde?
There are two markets that are available with all top forex brokers in Cape Verde. One is the ‘spot’ market, another is the futures market, where you use futures contracts to predict future price movements. Here is some more detail on both options.
- Spot forex. Trading the spot market means to buy and sell currencies instantaneously at the live market rate. This is the most common way to trade forex in Cape Verde for most people.
- Forex futures. Futures contracts are an agreement to buy or sell a currency at a fixed price at a set date in the future. Futures require more understanding of the economic factors that impact prices over time. For that reason, they’re generally only used by people with experience of currency trading.
Is MT4 available in Cape Verde?
Yes, MetaTrader 4 is legal in Cape Verde. When you use MetaTrader software, you have to sign into a brokerage account and any live trade you place goes through a forex trading platform. As long as you can connect to a legal Cape Verdean forex broker, you can use MT4 or MT5.
What’s the minimum forex trade size in Cape Verde?
The industry standard is 0.01 ‘lots’, which is equivalent to 1,000 units of the currency you want to trade. This is known as a ‘micro lot’. A ‘lot’ equals 100,000 units of the currency you want to trade.
How to trade forex in Cape Verde
1. Sign up to a Cape Verdean forex trading platform
Use the list of top-ranked brokers at the top of the page to help you.
2. Create an account and deposit money
Sign up by providing your personal details and a form of photo ID. Transfer funds to the account through a bank transfer, credit or debit card payment, or another payment method, like PayPal.
3. Search for a currency pair and place your trade
Find the pair by typing the currency code – such as USD for the US Dollar – and choosing it from the list of results. Enter the details and click ‘buy’ to make the trade.
FAQs
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