We collected all data you need to know about account opening, trading performance and fees of the best investment providers in Mali. Our mission is to help people invest, hopefully this will save you a lot of time.

Online Brokers & Trading Platforms in Mali in 2021
Summary

If you already know your investment preferences, we listed the most relevant collections of best brokers in Mali in the first chapter.

If you are still at the beginning of your journey you can learn about account opening in Mali in our step by step guide and see what timeframes you can expect and which documents you will need in the second chapter.

In the third part of the article you can check the fees of the brokers in Mali for our model stock transaction for different markets.

Ideally, after reading our research you should feel more secure about opening a trading account that fits you best. When selecting a broker remember to focus on the following aspects:

  • Account opening time
  • Account opening complexity (user-friendliness)
  • Whether hard copies of your documents are needed
  • Trading and non-trading fees
  • Selection of available products

Online Brokers & Trading Platforms in Mali in 2021
Best online brokers in Mali

 

For detailed information see the following chapters or scroll down:

 

Online Brokers & Trading Platforms in Mali in 2021
Trading account from Mali

We selected brokers that have the highest overall score and are available in Mali. To understand how we calculated the overall score, visit our methodology page.

Note that, even if you're from Mali, you can still select a broker that provides access to international exchanges such as the NYSE or NASDAQ.

Where can I open a trading account from Mali?

Brokers and trading accounts available in Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
Overall score 4.9 4.8 4.7 4.6 4.6
Account opening score 3.2 stars 5.0 stars 5.0 stars 4.2 stars 2.5 stars
Fees score 4.5 stars 4.3 stars 4.4 stars 4.2 stars 3.9 stars
Markets and products score 5.0 stars 3.3 stars 3.4 stars 1.8 stars 4.9 stars
Visit broker Visit broker
73% of retail CFD accounts lose money
Visit broker
75.26% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker

How to open a trading account from Mali?

There are several factors to consider when opening a trading account, including the user-friendliness of the platform or the minimum deposit amount. Let's deep dive into these.

The time it takes to open an account typically ranges from a few minutes to a few weeks. The identity verification that marks the end of the process differs at various brokers. The account opening process is fully online in most cases, but there are brokers that require customers to mail a copy of their documents. The documents you usually have to upload and/or send (a copy) are of the following:

  • Proof of identity: national ID, passport, driving license, etc.
  • Proof of address: bank statements, utility bills, etc.

There are brokers that require a minimum deposit to authorize your trading account. The minimum deposit is usually $0 or a low amount, but some brokers demand a couple of thousands dollars/euros.

Account opening at brokers available from Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
Broker intro International broker providing all asset classes Global CFD broker Global CFD broker US forex broker UK-based global stockbroker
Time to open account 1-3 days 1 day 1 day 1-3 days 1 day
Account opening fully online Yes Yes Yes Yes Yes
Account opening user-friendliness No Yes Yes Yes No
Minimum deposit $0 $0 $20 $0 $1,000

Broker fees in Mali

Undoubtedly, fees are a crucial factor when selecting a broker. Below you can check the asset classes that individual brokers provide and whether their fees are classified as high, low, or average. This classification is based on how the fees compare to those charged by all the brokers reviewed by us.

Trading fee classification at brokers in Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
Stock fee class Low Low Low - Low
Forex fee class Average Low Low Low Average
Fund fee class Average - - - High
Bond fee class Low - - - Low
Options fee class Average - - - High
Futures fee class Low - - - Low
CFD fee class Average Average High Low High

Non-trading fees are just as important as trading fees. Non-trading fees include charges not directly related to trading, such as withdrawal or inactivity fees.

Non-trading fees at brokers in Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
Account fee No No No No No
Inactivity fee No Yes No Yes No
Deposit fee $0 $0 $0 $0 $0
Withdrawal fee $0 $0 $0 $0 $0

Online Brokers & Trading Platforms in Mali in 2021
How to invest in stocks from Mali

There are many safe and high-quality online brokers that offer their services for clients in Mali. Among these, you can find providers that offer stocks from Mali, but if you're looking to invest in other global markets, your possibilities open up even more.

Top brokers for investing in stocks

We have compiled a list of safe brokers that are available in Mali and are great for investing in stocks. We recommend that you pick one of the following brokers:

  1. Interactive Brokers, International broker providing all asset classes
  2. XTB, Global CFD broker
  3. Capital.com, Global CFD broker
  4. Oanda, US forex broker
  5. TradeStation Global, UK-based global stockbroker

Are you ready to start?

Let us show you how to invest in stocks from Mali in five simple steps:

  1. Find an online broker
  2. Open an account
  3. Fund your account
  4. Buy the stocks you need
  5. Double-check transaction fees

1. Find an online broker

First, you need to make sure that the broker you're looking at is available in Mali. Some brokers are available in only one country or region (such as the US or the UK), but others are more global in their outreach, and allow clients from most countries in the world to open an account.

Would you like to speed up your search?

Our broker finder tool will help you narrow down your choices, showing only those brokers that are available in your country and are suitable for your investment goals and habits. And if you want a detailed, side-by-side comparison of these alternatives, check out our broker comparison table.

Top brokers for investing in stocks from Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
Stock and ETF fee scores 4.8 stars 5.0 stars 5.0 stars 0.0 stars 4.7 stars
Web platform score 4.0 stars 4.4 stars 3.9 stars 4.5 stars 4.0 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 5.0 stars 3.5 stars
Stock markets (#) 78 17 7 - 78

Here at BrokerChooser, we only recommend brokers that are regulated by at least one top-tier financial authority. Please note that some global brokers operate via several legal entities, each regulated by a local authority – so for example, US clients would be overseen by a US regulator, and UK clients by a UK financial authority. Some regulators also run investor protection schemes, making you eligible for compensation if your broker goes bankrupt.

2. Open your account

Opening an account at an online broker is usually easy and straightforward, and takes place fully online. Most of the time, you just need to provide your name, address and other basic information, and maybe answer some questions about your wealth/income status, financial knowledge or trading experience.

Make sure you have your documents at hand, as

  • copies of a photo ID
  • some recent bank statements
  • or utility bills

are usually required to verify your identity and residency.

Once you have completed your registration, it normally takes another day or so for your account to be verified, although at some brokers this process can take up to three days or even more. Some locally-focused brokers may even require overseas clients to send documents by mail, making the process more cumbersome. But once your account is verified, you're all set to start investing!

3. Fund your account

So your trading account has been verified; the next step is to fund it – in other words, to deposit money that you will then use for buying stocks. Some brokers require a minimum deposit when you open your account, but most brokers do not have such a requirement, allowing you to take your time before committing any funds.

All brokers will allow you to deposit or withdraw funds via bank transfer; an easy, usually free, though not always super-fast method. Withdrawing money to your bank account can take as long as three days.

Many brokers also let you deposit (though not withdraw) funds using credit or debit cards. A few will also accept so-called electronic wallets such as PayPal, Apple Pay, Skrill or Neteller. The biggest benefit of cards and e-wallets is that transactions take place instantly, allowing you to start investing – or reap the proceeds of a successful stock sale – right away.

4. Find and buy stocks

You may already know which stock(s) you want to buy; if not, it's worth checking out the research section of your broker, which often includes trading ideas and recommendations by in-house experts or third-party analysts. Alternatively, you can do a bit of research on your own, and check the selected stock's earnings multiples, or read up on industry news.

Once you have settled on a stock, it's easy – just

  • select it from the broker's search menu
  • enter the number of shares you want to buy
  • press "Buy"

Most trading platforms will offer several order types - such as a "Market" order to buy at the current price, or a "Limit" order to buy later at a specific price. To learn more about various order types, read this article.

5. Stock trading and non-trading fees in Mali

Now let's check in detail the trading and non-trading fees charged by the best brokers for investing in stocks from Mali. All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.

Stock trading and non-trading fees in Mali
Interactive Brokers XTB Capital.com Oanda TradeStation Global
US stock $1.0 $0.0 $0.0 - $1.5
UK stock $4.2 $0.0 $0.0 - $2.4
German stock $3.6 $0.0 $0.0 - $2.4
Withdrawal fee $0 $0 $0 $0 $0
Inactivity fee No Yes No Yes No
Visit broker Visit broker
73% of retail CFD accounts lose money
Visit broker
75.26% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
More More More More More

Check out the investment landscape in other countries as well

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Online Brokers & Trading Platforms in Maldives

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Online Brokers & Trading Platforms in Malta

Author of this article

András Iván

Author of this article

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

András Iván

Broker Analyst

Andras has over 5 years of experience in investing and trading equities, options and bonds. He believes that active trading and a more passive investing approach both have merits and everyone can find a strategy that fits their needs. He's eager to help identify the characteristics of specific brokers, so the best match can be found for each client.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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