3 best Forex Brokers and platforms in Sudan – Comparison and reviews

Many forex traders from all over Africa have embraced forex trading to make income. One of these Countries is Sudan, and we have researched 3 top forex brokers that offer industrial standard brokerage Services for Sudan traders. To learn more, read ahead. 

See the list of the best Forex Brokers in Sudan:

Forex Broker:
Review:
Regulation:
Spreads:
Assets:
Advantages:
Open account:
1. RoboForex
RoboForex logo
IFSC
Starting 0.0 pips & $ 4.0 commission per 1 lot traded
9,000+
(50+ currency pairs)
+ Huge variety
+ Micro accounts
+ Free bonus program
+ Leverage up to 1:2000
+ ECN accounts
+ MT4/MT5/cTrader
Live-account from $ 10(Risk warning: 79% of retail CFD accounts lose money)
2 BlackBull Markets
BlackBull Markets logo
FSPR, FSCL
Starting 0.0 pips & negotiable commission per 1 lot
500+
(64+ currency pairs)
+ ECN Broker
+ Deep pool execution
+ High liquidity
+ Best execution
+ Leverage 1:500
+ MT4/MT5
Live-account from
$ 200(Risk warning: 79% of retail CFD accounts lose money)
3. Pepperstone
FCA, ASIC, DSFA, SCB
Starting 0.0 pips & $ 3.5 commission per 1 lot
1,000+
(40+ currency pairs)
+ Fast execution
+ Large FX Broker
+ Good service
+ MT4/MT5/cTrader
+ TradingView Charts
Live-account from
$ 200(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

Four best Forex Brokers and platforms in Sudan:

  1. RoboForex
  2. BlackBull Markets
  3. Pepperstone

1. RoboForex

The official website of the Forex Broker RoboForex

RoboForex started operating in 2009, registering more than three million traders. 

Trading instruments – it offers commodities, metals, indices, ETFs, Cryptocurrencies, CFDs, and stocks.

Regulation – it has regulation from the IFSC

Account types – it offers five account types Pro-Cent, Prime, ECNand the Pro account with an initial deposit of $10, while the R-stocks trader has an initial deposit of $100. 

Fees – forex spreads vary with the type of trading account; the ECN and the Prime account have forex spreads from 0.0 pips. The pro and pro-cent accounts forex spreads start at 1.3 pips, and the R-stocks trader at 0.01 USD. 

Trading costs – open positions overnight attract rollover costs. The rates vary with the size. It also has an inactivity cost of $10, and deposits/ withdrawals are free.

Leverage – the highest leverage is 1:2000 for the Pro and Pro-Cent; the prime and the R stocks trader have forex leverage of 1:300 while the ECN account has 1:500. 

Demo account – its demo account is free and available with versions of the five account types.

Trading platforms – RoboForex offers four types, R-stocks trader, MT5, MT4, and the cTrader. 

Payment methods – it supports bank transfer, credit/debit cards, and digital wallets such as Skrill, PayPal, AdvCash, UnionPay, Neteller, Ngan Luong, and Perfect Money. 

Customer care – Customer support is available 24/7 via live chat, phone calls, and emails in 11 languages.

RoboForex Logo

Pros 

  • Fast account processing rates
  • Low trading costs
  • Low initial deposit
  • Negative balance protection

Cons 

  • It is not available in some regions

(Risk Warning: Your capital can be at risk)

2. BlackBull Markets 

The official website of the Forex Broker BlackBull Markets

BlackBull Markets started operating in 2014 and has grown to register thousands of traders worldwide. 

Trading instruments – they offer metals, commodities, CFDs, forex, energies, and shares. 

Regulation – it has regulation from the FSA.

Account types – BlackBull Markets has three account types: the ECN Standard with an initial deposit of $200, ECN Prime has a minimum deposit of $2000, and the ECN Institutional at $20,000. 

Fees – forex spreads depend on the account, and the ECN standard starts at 0.8 pips. The ECN Prime has forex spreads from 0.1 pips while the ECN Institutional accounts from 0.0 pips. 

Trading costs – the ECN standard has no commission; while the ECN Prime has commissions of $6 for every $100,000, the ECN Institutional account offers variable commissions. It has no inactivity fee, and deposits/withdrawals are free. 

Leverage – forex traders can access up to 1,500. 

Demo account – forex traders can practice their trading strategies on the free demo account. 

The trading platform – BlackBull Markets offers access to MT4 and MT5.

Payment methods – forex traders can transfer funds through bank transfers, debit/credit cards, and electronic wallets such as WebMoney, Skrill, QIWI, Neteller, Union Pay, and FasaPay. 

Customer care – customer care is available through live chat, emails, and phone calls 24/6.

BlackBull Markets logo

Pros

  • Fast execution rates
  • Low trading costs
  • High leverage 
  • Wide range of payment methods

Cons

  • Limited educational resources
  • Customer care is only available 24/6.

(Risk Warning: Your capital can be at risk)

3. Pepperstone 

The official website of the Forex Broker Pepperstone

Pepperstone started operating in 2010 and has over 300k clients from all over the world. 

Financial instruments – commodities, shares, ETFs, Indices, CFDs, forex, and cryptocurrencies.

Regulation – Pepperstone has regulations from the FCA, the DFSA, and the ASIC

Account types – it offers two types. The standard account has an initial deposit of $200, and the Razor also accounts for $200. 

Fees – forex spreads start at 1.0 for the standard account and 0.0 on the Razor account. 

Trading costs – it has no inactivity fee; rollover costs get charged when you keep an open account overnight. Deposits/withdrawals are free, and it charges a commission of $7 per round lot for every $100,000 traded with the Razor account. 

Leverage – the maximum leverage offered is 1:400. 

Demo account – The demo account has a limited demo account for 30 days after registering a trading account.

Trading platforms – it has integrated MT5, MT4, and the cTrader. 

Payment methods – traders can fund their accounts through bank transfers, credit/debit cards, and e-wallets like Skrill, UnionPay, PayPal, Bpay, and Neteller.

Customer care – Customer support is present 24/5 through live chat, emails, and phone calls. 

Pepperstone logo

Pros

  • Fast execution rates
  • Low trading cost
  • Industry-standard trading tools
  • Fast account registration rates

Cons

  • Limited educational resources
  • Customer care is only available 24/5

(Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs)

Is it legal to trade Forex in Sudan?

Yes, it is legal to trade forex in Sudan; many forex traders buy and sell items from other countries, so they need to exchange currencies. Besides that, forex traders also make a profit from exchanging currencies. 

It is possible to trade forex wine in Sudan; traders have to find the right forex broker that is regulated and has credibility with other forex traders. 

Sudan Flag
Sudan Flag

What are the financial regulations in Sudan?

Forex trading in Sudan is the same as everywhere else in the world, except that there are no forex brokers based in Sudan, and the traders rely on international forex brokers. It means that forex traders in Sudan have to select a forex broker with regulations accessible in Sudan. 

The securities and exchange market is lightly regulated in Sudan, and the main regulatory body that offers some form of regulation is the Central Bank of Sudan. Sudan’s GDP is low compared to other countries, especially since 2019, when a military coup resulted in a fall in the value of the Sudanese Pound and an increase in inflation. 

Sudan’s government has made efforts to try and stabilize its currency by signing trading agreements with other countries like the US and, in return, getting internal security against terrorism. Many foreign investors feared investing in Sudan because of its reputation for funding terrorism and the inflation of the SDG that reduced its purchasing power. 

The situation in the forex market has improved, and some forex brokers now accept forex traders from Sudan. Since financial regulation in Sudan is lacking, forex traders depend on other regulatory authorities such as the ASIC, CySEC, CFTC, SEC, FCA, FSA, FSCA, and NFA. 

Security for traders from Sudan

Security for Sudan traders lies with the type of broker you choose to trade with. The securities market has frauds and scams, which forex traders in Sudan are also exposed to, especially since they have no specific regulatory body. 

International brokers regulated by credible regulatory agencies offer a secure environment for forex traders from any location, including Sudan. Many International forex brokers are now easily accessible globally as long as you have a stable internet connection. 

What to consider when choosing a Forex Broker in Sudan

Some factors Sudanese traders should consider when choosing forex brokers to include,

Regulation – it is imperative that forex traders choose a credible and reliable forex broker. It helps forex traders to keep their investments safe and have an easier time trading forex. 

Trading costs – Forex traders should also consider forex brokers with tight spreads and low or zero commissions to save on the capital they want to trade. There are also costs, such as rollover fees.

Assets – These are the financial instruments a forex trader wants to trade; forex traders in Sudan who intend to trade currency pairs should look for forex brokers offering a wide range of forex pairs. Other trading instruments include Binary Options (Only for professional traders and outside EAA countries), cryptos, indices, stocks, shares, metals, and CFDs. 

Trading resources – traders can use various trading tools to increase their chances of profits when trading. Some tools they can look out for include charts, technical tools, order execution, and educational and research materials. 

Customer care – the support team is crucial such that if you have any difficulty, they can offer a fast response which saves you time and other resources. 

How to trade Forex in Sudan – An overview

Choose a reliable Forex Broker

It is the first step for forex traders before trading; many forex brokers allow Sudanese traders. They can follow some factors highlighted when choosing a forex broker. They should select a regulated forex broker with the qualities and trading instruments they prefer. 

Open a trading account for Sudanese traders

Registering an account with BlackBull Markets

After settling on the forex broker of your choice, you can move to its website and register a trading account. Forex brokers require you to give them details such as the name, email, telephone, and password that you use to log in to your trading account. 

After logging in, you can download a trading platform, there are a variety of trading platforms, and traders can choose which they prefer among those offered by the forex broker. The trading platforms enable traders to access the forex market where other traders are. 

Start with a demo account or a real trading account

Forex traders can start with a demo account similar to a real account, only that it has virtual funds. The demo account helps traders practice trading different assets without risking their funds. Forex traders also use the demo account to test trading software features, such as trading tools. 

Either way, traders can also move directly to the real account if they have previous experience trading. The real account will require you to use your current funds, so you will need to deposit. Expert traders recommend that forex traders start by using the demo account to familiarize themselves with the trading software before moving to the real account. 

Deposit money 

IQ Option payment methods

Forex traders who want to start trading must deposit the minimum requirement before starting trading. There is a section that traders can use to link their trading accounts with the various payment methods offered. 

Forex brokers have different payment methods; the common method most traders use is bank transfers. There are also credit/ debit cards such as Master cards or Visa. Most, if not all, trading platforms support electronic wallets such as PayPal, Payoneer, or Skrill. 

Use analysis and trading strategies

IQ Option strategies

The common way forex traders prepare to trade is by using trading strategies and analysis. The analysis allows traders to understand how the prices of an asset react when the market changes. It also enables traders to prepare for any changes they expect. 

There are two kinds of analysis, technical and fundamental analysis. Traders use technical analysis to evaluate the price chart and the price action through the price movement. Fundamental analysis tends to focus on factors that influence the price movement of an asset, such as the interest rates and political and economic policies that directly or indirectly affect the prices of a currency of security. 

Trading strategies for any market depend on the type of security and the time frames. Some prefer short-term trades, such as day traders or swing traders, while others prefer long-term, such as trend traders. There are also market entry strategies like the break-out or pullback strategy. 

Traders have to develop a trading strategy when entering and during the entire trading process. A trading strategy consists of the entry and exit methods, stop-loss, and take profit. Forex traders can practice their trading strategies on the demo account before applying them to a real trading account. 

Start trading

IQ Option app analysis

After enough practice, traders who are confident with trading their real funds can enter the financial market. Ensure that you have all your trading strategies and follow your trading plan. You must ensure you have conducted enough analysis and know your trading signals. 

Another factor to consider is emotional and trading discipline. With a good trading strategy and trading discipline, you will increase your chances of making profits while following your trading strategy. 

Conclusion: The best Forex Brokers are available in Sudan

 Forex traders in Sudan should take advantage of forex brokers offering standard trading resources. They only need to find a stable internet connection to connect with the trading broker and access their trading accounts. There are many forex brokers in the market, so traders have to be keen when choosing a forex broker, especially in unregulated regions like Sudan. 

Besides that, they can check the forex brokers we have recommended if you are a Sudanese actively looking for a reliable forex broker to trade with.

  1. RoboForex
  2. BlackBull Markets
  3. Pepperstone

FAQ – The most asked questions about Forex Broker Sudan :

Is the Sudanese Pound available in Forex?

A few forex brokers offer the Sudanese Pound because it has less liquidity and, therefore, low profits for the forex brokers. For forex brokers that offer the Sudanese Pound, most traders trade it with the US dollar; the current exchange rate is 447.50 for the USD/SDG. 

Do Forex traders in Sudan pay taxes?

Forex traders can pay tax when trading forex’s profit or income passes a limit. Forex traders need to get advice from financial institutions and tax experts in Sudan on the amount they have to pay as tax. 

Is forex trading possible for traders in Sudan?

Yes, traders in Sudan can trade forex with as much enthusiasm as they trade other underlying assets. Sundanese traders can enjoy forex trading as it helps them enjoy more profits. Forex trading is the best form of trading as traders can always benefit from fluctuations in foreign exchange. So, you can choose a forex broker in Sudan to avail yourselves of the best services.

Which forex brokers operating in Sudan offer the best trading services to traders?

Choosing the right forex broker operating in Sudan can be challenging for a trader. However, once you find the right broker, your forex trading journey will be smoother. For the best trading experience, you can choose BlackBull Markets, RoboForex, and Pepperstone. These brokers offer the best trading services. Besides, they also offer you top-notch customer support that further improves your trading experience. 

How long can a trader use a demo account with a broker operating in Sudan?

A trader can use a demo account with a broker operating in Sudan for as long as he wants. However, if we talk about the free demo account usage, it is available for only 30 days. Therefore, if a forex trader wishes to continue using a demo account after 30 days, he will have to pay for it. 

Last Updated on October 20, 2023 by Andre Witzel