10 Best
Forex Trading Platforms and Brokers in
Malawi

With literally hundreds of Forex brokers available in the market to choose from, choosing the right one can be extremely challenging and time consuming. To make this process easier, we have tested and reviewed multiple top Forex brokers and compiled our findings in this Forex broker review.  Each Forex broker review in the article includes the best of what they have to offer, ensuring that traders can make a comfortable and informed decision.

The basic steps to follow when choosing a broker is actually rather simple. Without doubt a trader’s top priority should be ensuring that their funds are safe. Traders must make sure that the broker they choose will not steal their deposit. Always use a broker who is based in, and regulated by a financial authority in a respected financial centre.

The second step to follow is to make sure that if a broker goes bankrupt for any reason, that the trader will indeed be able to recover their deposit. Deposit with brokers whose regulators offer deposit protection for clients. What this means in basic terms are that even if a broker goes broke, the insuring body will be able to bail a trader out by paying back their funds up to a certain amount.

Beyond these steps, traders should try to choose a broker with a healthy financial situation and a good, long-standing reputation. Once a trader has taken these precautions, they can start to look at what their list of potential brokers offers in terms of available assets to trade, spreads and commissions, speed and reliability of trade execution and much more.

To make 100% certain that a trader is picking the right broker, they should compare multiple brokers, while keeping their own personal trading style and needs in mind.

The Best Forex Trading Platforms and Brokers in Malawi

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.

pepperstone best broker

Pepperstone

Pepperstone¬†is a global online broker which was founded in 2010 and offers Forex, CFDs and Social Trading.¬† ¬†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), 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.

easyMarkets

EasyMarkets

EasyMarkets Is the Best Forex Broker for Beginners in Nigeria and is regulated by CSEC (Cyprus) and ASIC (Australia) and offers beginner forex traders:

  • Enhanced risk management tools as standard
  • Fixed spreads on all forex pairings
  • An easy to use forex trading platform

Risk Management Tools Offered by EasyMarkets

Guaranteed Stop Loss Orders

Most forex brokers in Malawi offer stop-loss orders which will exit a trader when a set profit or loss is made on any trade, but the issue exists that when a market has low liquidity or experience high volatility the CFD provider won’t be able to exit the trade at the set price, this is known as slippage and can lead to unexpected losses exceeding the trader’s expectations.

EasyMarkets make all stop-loss ordered guaranteed stops meaning the maximum losses set are guaranteed to be locked in or the FX broker will cover the difference.

Negative Balance Protection

Similar to stop losses, negative balance protection helps stop a trader’s losses before it exceeds their expectations, but in this case, rather than protecting losses exceeding the amount set on a single trade, this stops overall losses from exceeding deposits. EasyMarkets guarantees traders that they will not lose more than their balance and if this does occur, they will cover the difference.

EasyMarkets is regulated by CySEC and ASIC.

Roboforex robo forex best brokers

Roboforex

Roboforex is an online broker founded in 2009 which offers Forex and CFDs trading.  Roboforex is a global broker and has a head office in Cyprus.

  • Regulated by: Cyprus Securities and Exchange Commission (CySEC)
  • Headquarters:¬†Cyprus
  • Founded in:¬†2009
  • Min Deposit:¬†1
  • Used by over¬†10,000 traders

Roboforex Trading benefits:

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

Roboforex Trading Accounts Offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • STP account
  • Islamic account

Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, Ukrainian and have a double AA grade support rating because Roboforex offer live chat and email support in multiple languages.

RoboForex is authorized and regulated by the International Financial Services Commission (IFSC) with license number IFSC/60/271/TS.

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 is regulated by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). 

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.

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 authorised and regulated by the Australian Securities and Investments Commission (ASIC)

XM Group

XM Group

The XM Group provides the entire suite of MetaTrader platforms and over 1300 tradeable instruments, was Founded in 2009, and is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it an average-risk for forex and CFDs trading.

XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC).

XM Group’s research offering is above the industry standard, and pricing at XM Group varies by account type.

Feature

XM Group

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

57

CFDs – Total Offered

1247

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

No

XM Group is a MetaTrader-only broker and offers the standard experience, including both MT4 and MT5, iOS and Android versions of the MT4 and MT5 mobile apps come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.

ThinkMarkets

ThinkMarkets

ThinkMarkets is an online broker which was founded in 2010 and offers both Forex and CFDs trading.  ThinkMarkets is a global broker with a head office based in Australia.

  • Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)
  • Min Deposit:¬†250
  • Used by over¬†10,000 traders

ThinkMarkets has won multiple industry awards over a 10-year span.

ThinkMarkets Trading benefits:

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

ThinkMarkets Trading Accounts Offered:

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

ThinkMarkets support a wide range of languages including English, Chinese, and Japanese and is governed and supervised by reputable financial regulatory bodies.

HYCM

HYCM

HYCM is an online broker founded in 1977 and offers both Forex and CFDs trading.  HYCM are a global broker with a head office based in UK.

  • Regulated by: Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048
  • Min Deposit:¬†100
  • Used by over¬†10,000 traders

HYCM has won numerous industry awards over the past 43 years and is governed and supervised by reputable financial regulatory bodies.

HYCM Trading benefits:

  • Allows scalping
  • Allows hedging
  • Low min deposit

HYCM Trading Accounts Offered:

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

With HYCM, the minimum and maximum trade requirements may vary depending on the trader and the instruments.  HYCM supports a wide range of languages including English, Chinese, Chinese (Traditional), Arabic, and Russian.

HYCM is Regulated by the FCA and CySEC and CIMA and represented globally in the United Kingdom, Hong Kong, Cyprus and Dubai.

A traders‚Äô choice of broker should be influenced by the type of trader they are and no single broker is good for all traders, so in light of the fact ‚Äď here are 5 More mention worthy brokers and platforms available in Malawi.

Cityindex best broker

City Index

City Index was established in the United Kingdom in 1983 and has since become one of the world leaders in spread betting, FX and CFD Trading. City Index traders have access to over 12,000 global markets, across forex, indices, shares and commodities and the City Index trading platform offers a range of customisation options, including 16 chart types with 65+ indicators. 

Pros

Cons

Used by 140,000+ traders

Doesn’t allow scalping

Established in 1983

Inactivity Fee

Regulated by Financial Conduct Authority, ASIC and MAS

Limited range of instruments

Min. deposit from $25

 

To open a live account, traders will need a minimum deposit of at least $25 and alternatively, a demo account is available.  City Index also offers over 12,500 different instruments to trade, including over 84 currency pairs plus the popular MT4 forex trading platform.

Trading Features:

Accounts offered:

Funding methods:

Allows hedging 

Demo account

Credit cards

Offers STP 

Micro account 

Bank Transfer

Low min deposit 

Mini account 

Payoneer

Guaranteed stop loss

Standard account 

 
 

Managed account 

 

City Index supports a wide range of languages including English, Spanish, German, Arabic, Polish, and Chinese.

The company is regulated by top-tier financial authorities, such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) or Monetary Authority of Singapore (MAS).

AvaTrade

AvaTrade

AvaTrade is one of the largest online trading platforms with approximately 200,000 registered clients who complete up to 2 million trades per month – approximately $60 billion of trading volume.

AvaTrade offers traders a range of financial trading instruments including indices, commodities, shares, forex, digital currency, bonds and exchange traded funds.

Pros

Cons

Used by 200,000+ traders

Doesn’t offer VPS

Established in 2006

Not FCA Regulated

Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

 

Min. deposit from $100

 

To open a live AvaTrade account, traders will need a minimum deposit of at least $100, alternatively, a demo account is on offers which can use for practice.  AvaTrade offers both of the MetaTrader platforms; MT4 and MT5.

Trading Features:

Accounts offered:

Funding methods:

Allows scalping 

Demo account

Credit cards

Allows hedging 

Micro account 

Bank Transfer

Low min deposit 

Mini account 

PayPal

 

Standard account 

Skrill

 

Islamic account 

Payoneer

  

Neteller

AvaTrade support a wide range of languages including English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch.

AvaTrade is a global CFD and FX broker regulated by several financial authorities, such as the Central Bank of Ireland and besides English, traders can chat in a lot of other languages including Arabic, Chinese, French, Italian, German, Russian and more.

fx pro

FXPro

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

  • Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of The Bahamas (SCB), Dubai Financial Services Authority (DFSA)
  • Min Deposit:¬†100
  • Used by over¬†10,000 traders

FXPro provides traders with access to top-tier liquidity and advanced trade execution.

FXPro Trading benefits:

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

FXPro Trading Accounts Offered:

  • MT4 account with fixed spreads and Instant Execution.
  • MT4 account with floating spreads and Instant Execution.
  • MT4 account with floating spreads and Market Execution.
  • cTrader account with floating spreads and Market Execution.
  • MT5 account with floating spreads and Market Execution.

The following account types are available to clients under DFSA:

  • MT4 account with fixed spreads and Instant Execution.
  • MT4 account with floating spreads and Market Execution.
  • cTrader account with floating spreads and Market Execution.

FXPro offers MT4 Instant, MT4 Market, MT4 Fixed Spreads, MT5, Ctrader, which are available for VIP and Islamic clients.

FXPro Financial Services Limited is authorised and regulated by the South Africa Financial Sector Conduct Authority (authorisation number 45052).

Admiral Markets

Admiral Markets

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK.  Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.

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

Admiral Markets Trading benefits include:

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

Admiral Markets Trading Accounts Offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • STP account

Admiral Markets offers support in a wide range of languages including English, Spanish, Hungarian and much, much more!  Admiral Markets is a Forex and CFD broker authorised and regulated by the FCA, ASIC, EFSA and CySEC.

Swissquote best broker

Swissquote

Swissquote is an online broker which was founded in 1999 and offers Forex and Social Trading, is a globally recognized broker and has a head office situated in Switzerland.  New traders with Swissquote will need to make a minimum deposit of $1000 and a demo account is available.  

Swissquote is able to accommodate various levels of traders and offers a wide variety of instruments and trading currency to choose from.

  • Over 100 instruments¬†
  • Over 150 currency pairs

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

Swissquote Trading benefits:

  • Allows scalping
  • Allows hedging

Swissquote Trading Accounts on Offer include:

  • Demo account
  • Mini account
  • Standard account

With Swissquote, the minimum and maximum trade requirements will vary depending on the trader and the instrument and the platform supports a wide range of languages including English, German, French, Italian, Spanish, Arabic, Russian, and Chinese.

Swissquote Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

8 Things to Look for When Choosing a Forex Broker

In order to choose a broker wisely, here are a list of characteristics traders should look for. 

Regulation: This is the most important aspect to check before picking a broker.¬† Traders can just check a broker’s NFA membership status and any disciplinary actions by visiting the¬†NFA official website.

Professional Website: The way the site portrays the company will give traders a clear picture of who they are dealing with. 

  • Does it crash a lot?¬†
  • Is it easy to navigate?¬†
  • Is the Website professional looking?¬†


Competitive Spreads: It is very important to examine what spread is on offer. 

Customer Support: This is a very important characteristic in Forex as in addition to the frustration caused by a lack of customer support, this can lead to major losses in actual money.

Quick Response Time: Even if the customer support is to a traders satisfaction, it is extremely important to verify that requests are fulfilled with a minimal delay.

Reasonable Leverage: Leverage generally speaking is what gives the Forex market a strong appeal to retail traders. 


Stop Loss Protection: This feature will enable traders to ensure that their losses do not exceed a certain amount. 


Competitive Platform Technology: The actual trading platform is where everything goes down. If their platform is not user-friendly, a trader will fail. 

Conclusion

There are many things traders must do before becoming a success in the Forex market, but one of the most important of all, if not the most crucial task, is finding a dependable professional broker. Picking the right broker has a massive influence on how successful a trader’s venture will be. No detail should be left to chance.