Trading from Senegal: what is different
Senegal uses the West African CFA franc, pegged to the euro at 655.957 francs per euro, so EUR/USD shows exactly how your local currency moves against the dollar.
Senegal began producing offshore oil in 2024, which makes Brent a new market to watch from Dakar.
Senegal is on UTC+0 all year. London opens at 08:00 in winter and 07:00 from April to October.
Forex market hours in Senegal
The forex market is open 24 hours a day from Monday to Friday, passing from Asia to Europe to North America. These are the main sessions converted to local time in Senegal.
| Session | Local time, Nov–Mar | Local time, Apr–Oct |
|---|---|---|
| Tokyo session | 00:00–09:00 | 00:00–09:00 |
| London session | 08:00–17:00 | 07:00–16:00 |
| New York session | 13:00–22:00 | 12:00–21:00 |
| London–New York overlap | 13:00–17:00 | 12:00–16:00 |
| Weekly open | Sunday 22:00 | Sunday 21:00 |
| Weekly close | Friday 22:00 | Friday 21:00 |
The busiest hours for the major pairs and gold are usually the London–New York overlap. Spreads tend to be widest around the daily rollover and in the first hour after the weekly open.
Markets to watch from Senegal
- EUR/USD — mirrors the CFA franc against the dollar.
- Brent crude (UKOIL) — Senegal became an oil producer in 2024.
- XAU/USD (gold) — priced in dollars.
- France 40 (FR40) — European stocks during your working day.
Accounts and funding
| Account | Minimum deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard Cent | $10 (balance in USC) | From 1.4 pips | None |
| Standard | $100 | From 1.0 pips | None |
| Pro | $1,000 | From 0.6 pips | None |
| Raw ECN | $5,000 | From 0.0 pips | $7 per lot |
Accounts are held in US dollars and funded in USDT on BNB Smart Chain (BEP20) or Tron (TRC20). There is no West African CFA franc conversion inside your account; any conversion happens wherever you buy or sell USDT. Identity verification is completed once, before your first withdrawal.
Regulation and your responsibility
AlphaFX Pro is an international broker and is not licensed by the Autorité des Marchés Financiers de l'UMOA (AMF-UMOA). Our registration in St. Vincent and the Grenadines is in progress. We do not provide investment advice or a local office in Senegal.
Before opening an account, make sure the law in Senegal allows you to trade CFDs with a broker based outside the country, and check any rules on moving money abroad. If you are not sure, ask us before you deposit.
Frequently asked questions
Can I trade the CFA franc?
No XOF pairs are offered, but because the CFA franc is pegged to the euro, EUR/USD tracks it exactly against the dollar.
What do I need to open an account?
An email address to sign up, USDT to fund the account, and identity verification once before your first withdrawal.
What is the minimum deposit from Senegal?
The Standard Cent account opens from $10, funded in USDT, with the balance held in US cents ($10 = 1,000 USC). Standard opens from $100, Pro from $1,000 and Raw ECN from $5,000.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This page is general information, not investment advice. Read the Risk Disclosure.