Forex Brokers and Trading Platforms in
Finding a reliable stock broker in Burundi can be a huge task as some brokers are not regulated or authorized to operate in the country. Online Forex trading is not widespread in Burundi and only about 15 percent of the population live in urban areas. The Burundi government has several state agencies in charge of financial oversight – the main regulatory body being the Bank of the Republic of Burundi (BRB) which oversees the whole of the financial sector of the economy, while the Insurance Regulation and Control Agency is in charge of regulating the insurance companies in the country.
Here is a breakdown of the 10 best forex brokers and trading platforms available to traders in Burundi:
Forex Time (FXTM)
Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.
Forex Time (FXTM) User Likes and Dislikes:
|Provides multiple execution methods by account type||Leverage caps and margin restrictions on ECN accounts|
|Regulated in several jurisdictions, including outside the EU||Certain range of markets segmented across account types|
|Offers Cryptocurrency CFDs||On ECN accounts, stop and limit levels can be added only post execution|
|FXTM Invest for auto trading||Low max order size of 30 standard lots per trade|
Is FXTM Safe?
FXTM is considered average-risk and is not publicly traded and does not operate a bank. FXTM is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.
Commissions & Fees
FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary. Three accounts are offered under the Standard category.
- Average Connection Time:<1 minute
- Average Net Promoter Score:6 / 10
- Average Professionalism Score:4 / 10
- Overall Score:8 / 10
- Ranking:23rd of 43 brokers
FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.
Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.
Alpari User likes and Dislikes:
Licensed in Russia, Belarus, Mauritius, Belize, St. Vincent & the Grenadines
Product offering segmented across global brands
Wide range of MT4/MT5 account types
Narrow range of CFD trading instruments
Launched CFDs on Bitcoin
Less research content on English site compared to Russian version
Member of External Dispute Resolution (EDR) organization
Is Alpari Safe?
Alpari is considered high-risk as it is not publicly traded and does not operate a bank. Alpari is authorised by zero tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust). Alpari is regulated by the FSC.
Commissions & Fees
The commissions and fees at Alpari are varied and depend on the account type and platform used.
Average Connection Time:<1 minute
- Average Net Promoter Score:33 / 10
- Average Professionalism Score:2 / 10
- Overall Score:5 / 10
- Ranking:26th in 43 brokers
Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker. The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.
The Bottom Line –
Picking the right broker is no easy task, but it is imperative that a broker gets it right. While we can point a trader in the right general direction, only they will know their own personal trading needs. Traders should take them into account, together with our recommendations.