Skip to content
Crypto Brokers2026

Brokers by Country · MG

Crypto Brokers in Madagascar, 2026

Tracked byUpdated

Madagascar has no domestic retail forex/CFD framework — the BFM (Banky Foiben'i Madagasikara) supervises banking and the ariary (MGA) under a managed-float regime, and the country has no active stock exchange. Most retail FX activity routes through offshore francophone-friendly brokers; mobile money (Orange Money, MVola) dominates local funding alongside USDT and occasional USD wires.

3 / 3 brokers accept Madagascar

crypto

  1. Editorial top pick

    01AvaTrade

    ASICFSCACBIBVI
    Open account at AvaTrade →
    Avg spread
    0.90pip
    broker-published typical
    Cost / lot
    $9.00
    no commission
    Min deposit
    $100
    Max leverage
    1:400
    EU/UK/AU retail: 1:30 · FSCA / BVI entities: up to 1:400

    Regulated in 6 jurisdictions · Spread-only pricing at 0.9 pip = ~$9/lot round-turn — wider than ECN/Raw brokers at similar volume

    Fits ifYou are AU or EU retail and want CBI + ASIC double cover with 20 years of operating history
    PlatformsMetaTrader 4, MetaTrader 5, AvaOptions, DupliTrade

    Founded in 2006

    Full AvaTrade details →

  2. 02Libertex

    SVG FSA
    Open account at Libertex →
    Avg spread
    0.50pip
    midpoint of broker range
    Cost / lot
    $5.00
    no commission
    Min deposit
    $10
    Max leverage
    1:999
    Libertex International (St. Vincent & the Grenadines). EU/EEA residents are served by the separate CySEC-regulated entity at 1:30.

    $10 minimum + Forex Club heritage (founded 1997) — long operating history · Offshore SVG (St. Vincent & the Grenadines) registration only — no tier-1 (FCA/ASIC) or EU (CySEC) oversight

    Fits ifYou have $10 to start — one of the lowest entry minimums in our list
    PlatformsMetaTrader 4, MetaTrader 5, Libertex Platform

    Founded in 1997

    Full Libertex details →

  3. 03Bybit

    VARA
    Open account at Bybit →
    Avg spread
    0.10pip
    broker-published typical
    Cost / lot
    $4.00
    incl. $3 commission
    Min deposit
    None
    Max leverage
    1:500
    Up to 1:500 on FX/CFD via MT5 · 1:100+ on crypto perpetuals · no ESMA cap (offshore crypto-CFD exchange)

    MT5 CFD offering with ~0.1 typical spread + ≈$3 RT equivalent — cost-competitive with ECN tiers despite crypto-first business · FX CFDs are secondary product — Bybit core business is crypto derivatives, FX depth and liquidity differ from dedicated forex brokers

    Fits ifYou already trade crypto at Bybit and want FX CFDs in the same unified-margin account
    PlatformsMetaTrader 5, Bybit

    Founded in 2018

    Full Bybit details →

Country context

Regulator
BFM · Banky Foiben'i Madagasikara — central bank with banking and currency oversight; no functioning capital-markets regulator or active stock exchange
Currency
MGA
Payment methods
Orange MoneyMVolaWire transfer (USD)USDT
Tax

Personal income tax (IRSA) is progressive up to 20%. Capital gains regulations are limited and enforcement on retail trading is minimal. Foreign brokers do not withhold; income is reportable via the annual tax return.

Retail trading rules

There are no statutory leverage caps for offshore-served residents; brokers apply their own limits. BFM exchange-control rules require declaration of larger outbound transfers. The BFM periodically publishes warnings against unauthorised forex schemes targeting Malagasy residents.

Frequently asked

Which brokers accept residents of Madagascar?+

3 of 3 brokers in our ranking accept Madagascar: AvaTrade, Libertex, Bybit.

Who regulates brokers for Madagascar?+

Primary regulator: BFM — Banky Foiben'i Madagasikara — central bank with banking and currency oversight; no functioning capital-markets regulator or active stock exchange.

What payment methods are available?+

Common methods: Orange Money, MVola, Wire transfer (USD), USDT.

What are the tax rules for trading in Madagascar?+

Personal income tax (IRSA) is progressive up to 20%. Capital gains regulations are limited and enforcement on retail trading is minimal. Foreign brokers do not withhold; income is reportable via the annual tax return.

Scope of coverage

Brokers tracked
14
Regulators indexed
55
Regulator actions logged
2
Latest pricing verification
Jul 14, 2026

Pricing and licensing status refresh weekly; the ranking is reviewed quarterly.