10 Best
Forex Trading Platforms and Brokers in
Botswana

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the stock
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The foreign exchange, Forex or FX market is the world’s largest financial market and is based on the trade of the world’s currencies.¬† The Forex market is very unique as it trades on a 24-hour schedule and is known for its rapid growth. However, one characteristic really sets it apart from the rest of the world’s financial markets. It is by far the largest market in the world with in excess of¬† 5 trillion dollars traded daily.¬† Global financial markets are now accessible online, previously only open to large institutional players, but may now be accessed by any individual.

For traders new to Forex, the flood of advertisements from different firms can be extremely confusing and picking a financial brokerage firm can be quite a daunting task. Residents of Botswana have a lot to gain by making the right choice and a lot to lose if they treat this task without the proper consideration.

A reputable brokerage firm is crucial for any retail trader as it serves as a middle-man between the trader and the financial market. Most brokers will also provide a source of professional guidance and support, educational content and assistance.  Reputable brokers will also offer traders both demo and live accounts.

A large number of reliable online forex brokers do accept clients from Botswana and in this article, traders can find 10 of the top, regulated brokers which extends their services to traders from Botswana.

Maximize
the stock
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with 1:2 leverage
on the world's
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Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

The Best Forex Trading Platforms and Brokers in Botswana

XM Group

XM Group

XM is an online broker which was founded in 2009 and offers traders Forex and CFDs trading.  XM is a global broker and has a head office situated in Cyprus and a starting account will need a minimum deposit of $5. The XM is able to accommodate a various level of traders whether they are experienced or just starting off.

Traders can trade in a wide variety of instruments and currency pairs over 100 instruments and over 80 currency pairs.  XM offers both of the MetaTrader platforms; MT4 and MT5 plus mobile apps for Android and iOS.

XM Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

XM Trading Accounts Offered include: Demo, Micro, Mini, Standard, Zero Spread and Islamic and all accounts support a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.

XM is authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdon (FCA). 

Cityindex best broker

City Index

City Index is an online broker which was founded in 1983 and offers Forex, CFDs and Spread Betting trading and traders can trade in over 12,500 instruments and over 100 currency pairs on the popular MT4 forex trading platform.  City Index also offer mobile apps for Android and iOS.

City Index is a global broker and has a head office situated in the UK and new traders will need to make a minimum deposit of $25 to make a start.

City Index Trading benefits:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

City Index Trading Accounts on Offer include:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • STP account
  • Managed account

City Index support a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese and has a triple AAA grade support rating.

City Index is authorised and regulated by the UK Financial Conduct Authority.

OctaFX

OctaFX

OctaFX is a global online broker which was founded in 2011 and offers Forex trading and for those who are looking to make a start, a minimum deposit of $5. A demo account is also on offer for those wishing to acquaint themselves with OctaFX Рboth of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform is on offer.  OctaFX also offer mobile apps for Android and iOS.

OctaFX are able to accommodate various levels of traders and has won numerous industry awards over the past 9 years. OctaFX doesn’t charge commission on CFD instruments.

OctaFX Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

OctaFX Trading Accounts on Offer include demo, Micro, Mini, Standard, zero spread, STP and Islamic and is regulated by Financial Conduct Authority (FCA).  OctaFX is already available in English, Indonesian, Chinese, Malay, Portuguese, Spanish and Thai and they are adding Bengali, German and Hindi to the list, offering access to the information in ten languages!

OctaFX is regulated by the British Financial Conduct Authority (FCA), one of the strictest forms of regulation in the Forex industry.

ic markets

IC Markets

IC Markets is an online broker which was founded in 2007 and offers Forex, CFDs, Spread Betting, Share dealing, and Cryptocurrencies trading on offer both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform developed for traders.

IC Markets is a global broker and has a head office situated in Australia and new traders will need a minimum deposit of $200 to get started and a demo account is on offer for those who want to get acquainted with the IC Markets platform.  IC Markets are able to accommodate various levels of traders whether they are experienced or just beginning in the trading game.

Traders can trade in a wide variety of instruments and currency pairs

  • Over 232 instruments
  • Over 65 currency pairs

IC Markets also offer traders mobile apps for Android and iOS and two accounts types, Standard account and Raw Spread account.  IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

IC Markets is authorised and regulated by the Financial Services Authority (FSA) of Seychelles.

trading212 best forex

Trading 212

Trading 212 is a global online broker which was founded in 2006 and offers trading in Stocks, Forex, Commodities and Indices trading.  With Trading 212 new traders will need a minimum deposit of $1 to start and they have the option to sign up for a demo account.

Trading 212 accommodates traders on various levels, whether it be experienced or novice.  Trading 212 is regulated and supervised by reputable organisations and have won numerous industry awards over the past 14 years that they have been in operation.

Trader can trade in over 3000 instruments and over 177 currency pairs.  Trading 212 offer traders a user-friendly custom trading platform which is also available as a browser-based web application alongside mobile apps for Android and iOS.

Trading 212 benefits include:

  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Trading 212 also offers traders a good selection of educational resources and offers customer support in a wide range of languages.  Trading 212 is authorised and regulated by the Financial Conduct Authority (FCA).

 

pepperstone best broker

Pepperstone

Pepperstone is a global online broker which was founded in 2010 and offers Forex, CFDs and Social Trading.   Pepperstone is regulated and supervised by reputable organisations with a head office based in Australia.

With Pepperstone new traders will need a minimum deposit of $200 to open an account and the option is available to sign up for a demo account to familiarize themselves with the Pepperstone platform.  Pepperstone can accommodate various levels of traders whether a trader is experienced or just starting off in the trade.  Traders have the option to trade in over 100 instruments and over 70 currency pairs.

Pepperstone is one of the few brokers available that offer traders both of the MetaTrader platforms; MT4 and MT5 coupled with cTrader. Pepperstone also offer traders mobile apps for Android and iOS for the complete package.

Pepperstone benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Pepperstone allows traders to execute a minimum trade of 0.01 Lot and supports a wide range of languages including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.

Pepperstone¬†is considered safe since it’s¬†regulated¬†by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).¬†

FxPrimus best broker

FXPrimus

FXPrimus is an online broker which was founded in 2009 and offers traders Forex and Social Trading, is a global broker and has a head office situated in Cyprus.  Traders can choose to trade in a wide variety of instruments and currency pairs alike.

  • Over 100 instruments
  • Over 45 currency pairs

FXPrimus offers traders the popular MT4 forex trading platform alongside a FXPrimus IOS or Android native App for phone and tablet use.

FXPrimus Trading benefits:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

FXPrimus Trading Accounts Offered include: Demo, Micro, Mini, Standard, ECN, STP, Managed and Islamic.  FXPrimus supports a wide range of languages including English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian.

FP Markets

FP Markets

FP Markets is a global, online broker which was founded in 2005 and offer Forex trading and has a head office situated in Australia.

When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

FP Markets Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

FP Markets is regulated by the Australian Securities and Investments Commission (ASIC). 

fx pro

FXPro

FXPro is an online broker founded which was founded in 2006 and offers Forex, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies trading.  FXPro is a global broker and has a head office located in the UK.

FXPro provide traders with access to top-tier liquidity and advanced trade execution with no dealing desk intervention and a starting account will need a minimum deposit of $100.

What can be traded with FXPro?

  • Over 250 instruments
  • Over 70 currency pairs

FXPro is one of the few brokers in the market who offers both of the MetaTrader platforms; MT4 and MT5 plus the cTrader platform and mobile apps for Android and iOS.

FXPro Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

With FXPro, the minimum and maximum trade requirements vary depending on the trader and the instrument and the broker offers support in a very wide range of languages including Arabic, Chinese, English, French, German, Hungarian, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese and FxPro holds an international license from the CySEC.

Markets.com

Markets.com is an online broker which founded in 2008 and offers Forex, CFDs and Spread Bets. Spread Bets are only available to UK customers trading and Markets.com is a global broker with a head office situated in Cyprus.

New traders will need to make a minimum deposit of $100 and a¬†demo account¬†is available for those who wants to try before they ‚Äėbuy‚Äô in.

Traders can trade in a wide variety of instruments and currency pairs

  • Over 100 instruments
  • Over 80 currency pairs

Markets.com offers both of the MetaTrader platforms; MT4 and MT5. plus, mobile apps for Android and iOS.

Markets.com Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Markets.com Trading Accounts on Offer include:

  • Demo account
  • Mini account
  • Standard account
  • Islamic account

Markets.com support a wide range of languages including Arabic, Chinese, Dutch, English, French, German, Italian, Japanese, Norwegian, Polish, Romanian, Russian, Spanish, and Turkish.

Markets.com is¬†regulated¬†by the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority of South Africa (FSCA), the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

How to Choose a Forex Broker

With hundreds of Forex brokers to choose from, selecting the right one can be a very challenging and time-consuming undertaking. To assist traders in this process, we’ve tested and reviewed multiple of the top Forex brokers and compiled our findings in the brokers mentioned above plus 5 more mention worthy brokers to follow:

Tradestation

Tradestation

Tradestation is a US stockbroker which was founded in 1982 and is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and is considered as safe thanks to a long track record, discloses its financials, and its parent company, the Monex Group is listed on the Tokyo stock exchange.

Pros

Cons

Great web and mobile trading platform

Not user-friendly deposit and withdrawal

Low stock and ETF fees

No forex trading

High-quality educational tools

Poor customer service

eToro best brokers

eToro

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.

eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

eToro trading accounts on offer include:  Demo, Micro, Mini, Standard, STP and Islamic.  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.

AvaTrade

AvaTrade

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands.

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

AvaTrade is perfect for various levels of traders including beginners and all traders can trade a wide variety of instruments and currency pairs.

  • Over 250 instruments
  • Over 80 currency pairs

AvaTrade Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Low min deposit

AvaTrade Trading Accounts on offer include: Demo, Micro, Mini, Standard and Islamic and AvaTrade allows traders to execute a minimum trade of 0.01 Lot and support a wide range of languages including English, Italian, German, French and Greek.  AvaTrade is fully regulated and licensed in the EU and BVI, with additional regulation in Australia, South Africa and Japan.

HYCM

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice.

a wide variety of instruments and currency pairs are available for trade:

  • Over 100 instruments
  • Over 40 currency pairs

HYCM Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit

HYCM Trading Accounts on offer include Demo, Micro, Mini, Standard and Islamic and the minimum and maximum trade requirements will vary depending on the trader and the instrument.

HYCM¬†Ltd is¬†regulated¬†under CIMA, reference number 1442313. The company’s European operations,¬†HYCM¬†(Europe) is¬†regulated¬†by the CySEC (licence number 259/14) and is authorised to operate as a Cypriot Investment Firm (CIF) to provide investment services.

Forex.com

Forex.com

Forex.com is an online broker which was founded in 1999 and offers Forex, Indices, Commodities, Equities and Cryptocurrencies trading with a minimum deposit of $500 needed to make a start.

Traders can trade in:

  • Over 4500 instruments
  • Over 80 currency pairs

Forex.com Trading benefits include:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Guaranteed stop loss
  • Offers Negative Balance Protection

Forex.com Trading Accounts on offer include:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

With Forex.com, the minimum and maximum trade requirements vary depending on the trader and the instrument and all accounts support a wide range of languages including English, Chinese, Arabic to name but a few.

Forex.com is regulated by the FCA and adheres to their strict regulatory guidelines.

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

Maximize
the stock
Markets

with 1:2 leverage
on the world's
leading stocks

What Kind of Trader Are you?

For traders to make 100% sure that they pick the right broker, it is a good idea to compare several traders, while keeping in mind their own personal trading style.  A trader’s choice of broker should complement the type of trader they are. No one broker will suit every trader, so determining a trading style before starting is always a smart decision.

Trading styles include:

Position:  A position trader tries to hold a profitable position for a long time, for days, weeks, or even months.

Trend trader: Drawing a trend line that connects multiple lows in an uptrend and multiple highs in a downtrend is often an easy way to identify the trend from a visual perspective. 

Swing:  Swing traders look to hold a profitable position for a few hours or a few days at most.

Day Trader:  Day trading is essentially about buying and selling an asset within the same day, while taking advantage of leverage for significant gain on very small price movements. 

Scalper:  Scalping takes advantage of very small price movements, often by making a very large number of trades. Small profits are compounded, and may result in large gains. 

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the stock
Markets

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In Conclusion

Any Motswana can become a Forex trader and all it takes to make a start is good education for which there are a lot of free resources available on the internet, patience and a small amount of capital. To start online Forex trading in Botswana a Motswana must first get the core information about the market and research brokers before making a final choice. Forex trading, like most trading activities, can have both favourable and unfavourable characteristics for traders and much of this will depend on the broker chosen.  

EXNESS is this month's #1 Broker