Ghana Forex Brokers

Situated in the west of Africa country’s economy is based on industrial minerals, precious metals, and hydrocarbons. Despite the economic hardship, the Ghana government has come up with an economic plan to become Africa’s most economically stable country by the end of the decade, which also includes Forex trading development.

Forex Regulation in Ghana

Forex trading is legal in Ghana. Despite the fact that it is considerably new in the country, it has become quite widespread. In many African countries, forex trading is not that popular yet, while in Ghana it is not only popular but also the country has a special separate regulatory authority controlling the sector – The Bank of Ghana.

The official website of The Bank of Ghana is www.bog.gov.gh.

• The regulatory body imposes special laws and rules, which can keep some brokers away from Ghana’s forex trading market and disable them to accept Ghana residents. However, there are still reliable brokers that are available for Ghana traders.

• The main task of the Bank of Ghana is to control the banking and credit system. It ensures the effective management of the country’s internal and external financial services. Also, the Bank promotes relations with Ghana’s international banking and financial institutions.

Best Forex Brokers in Ghana

Our list of Brokers in Ghana consists of the Regulated brokers only, which are advised and safe for investing. Besides, they are defined according to the specified criteria and the Trust Scores.

• BDSwiss– Best Overall Broker in Ghana 2023
• Pepperstone – Best Broker for Beginners in Ghana 2023
• BlackBull Markets – Lowest Spread Broker in Ghana 2023
• FP Markets – Best for Scalping and EA Trading Ghana 2023
• HotForex – Best MT4 Broker in Ghana 2023

What Is Pip in Forex Trading?

Pip is commonly defined as a percentage in point or price interest point. Pip is a measure of the exchange rate movement between two currencies. To put in short, a pip is one-hundredth of one percent. In forex exchange, a pip has a major role, as the movement in the exchange is measured by pips.
Generally, the pip value depends on the currency pair, as well as the exchange rate and the trade value.

What is Spread in Forex for Ghana?

As forex trading is quite new in Ghana, many traders may still not be acquainted with the most common terms of forex trading. For instance, spread in forex is one of the most essential concepts. It is the difference between a forex broker’s sell rate and buy rate when currencies are exchanged or traded. It depends on the involved currency of course, but spreads can be narrow or wider.

Among the important factors are also the time of the day the trade is conducted, as well as the current economic situation. When brokers wider their spreads, it means traders will have to pay while making a purchase and get less in the case of selling.

Trading Brokers Forex Ghana List

These are the regulated brokers that accept clients from Ghana:

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