10 Best
Forex Trading Platforms and Brokers in
Namibia

With hundreds of Forex brokers to choose from, selecting the right one can be both challenging and time consuming and Forex trading has extensively grown in popularity in Namibia. The country’s financial sector is dominated by four large corporations and the Nonbank Financial Institutions or NBFI sector is fairly large, and there is a local stock exchange Рthe Namibian Stock Exchange or NSX, which is one of the largest in Africa. 

To find the best brokerage firm for successful trading as a Namibian trader can be a challenging task, especially when it comes to finding one which accepts Namibian traders and will allow Namibian traders to invest in their own currency, the Namibia dollar. A traders’ choice of broker should mainly be influenced by a traders trading style and by how much money they are going to deposit.

In this article we have listed the 10 best forex trading sites and platforms suited to Namibian traders and will allow these traders to successfully and confidently trade in Stocks, Indices, Binary Options, CDFs, ETFs, Forex and some cryptocurrencies like Bitcoin and Ethereum, to name but a few.

The Best Forex Trading Platforms and Brokers in Namibia

Forex Time (FXTM)

FXCM

FXCM caters to multiple trader types including High-volume traders, algorithmic traders, and traders who appreciate robust trading tools and quality market research.¬† FXCM is considered low-risk.¬†FXCM’s parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust) like the UK FCA and the Australian ASIC.

FXCM offers a growing range of trading platforms and tools including: 

  • Trading Station desktop:¬†FXCM‚Äôs flagship trading platform, caters well to forex traders of all skill levels.¬†
  • Trading Station web:¬†The web version of Trading Station features includes news, videos, research, market data signals, and links to external resources.¬†
  • Ninja Trader:¬† Features numerous trading tools, including automated trading capabilities.¬†
  • Algorithmic Trading:¬†The FXCM App store provides various add-ons, technical indicators, and automated trading robots.¬†

FXCM provides a wide variety of market research and related resources. A combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders.  FXCM provides free phone support for the residents of 42 countries plus support via SMS, e-mail and via live chat.  Support agents speak over 20 languages.

IG Markets

IG

G offers traders a wide-ranging list of tradeable products, outstanding trading and research tools, industry-leading education, and competitive rates.

IG is considered low-risk, and is a publicly traded company which operates a regulated bank, and is authorised by six tier-1 regulators (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). IG is authorised by the following tier-1 regulators. ?? Name regulators

Commissions & Fees

IG provides traders competitive pricing across the board, regardless of the product chosen to trade.

  • Average spreads:¬†For small and standard size contracts, minimum spreads on the EUR/USD were 0.6 pips, average spreads were 0.73 pips, for the end of November, 2019.
  • Active traders:¬†For volume traders who qualify as professionals under EU rules, IG offers even more competitive rates on its commission-based offering, Forex Direct.¬†
  • Execution method:¬†Forex Direct streams from interbank liquidity providers where IG acts as an agency broker ‚Äď not adding on any additional spread. IG adds a commission to each trade made.

Platforms & Tools on offer includes –¬†

Flagship platform: IG’s main trading platform is its proprietary web-based platform with usability at the centre of the experience. 

Charting: The default charts within the platform offers traders advanced functionality including the ability to add an alert on a specific indicator, with a total of 28 studies available to select.

Additional platforms:  IG offers the MetaTrader4 (MT4) platform and a L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.

ProRealTime charts:   Via the ProRealTime premium charting more advanced charting with nearly 100 indicators is provided.

IG provides traders a large selection of quality market research from both in-house and third-party providers plus, a mobile app that comes packed with plenty of features.

Mobile app features include:

  • Tools:¬†Alerts, sentiment readings, an economic calendar, watch lists, detailed market information and a well-designed layout.
  • Charting:¬†The charting function is loaded with 28 technical indicators and drawing tools.¬†
  • Research:¬†News content and signals from AutoChartist.
  • MetaTrader:¬†MetaTrader is also available for traders who prefer the MT4 mobile app.

IG offers traders powerful research tools, competitive spreads and over 17,000 tradeable assets.  Customer service is available through a toll-free (U.K.) phone number from 8 a.m. Saturday to 10 p.m. Friday in a wide range of languages including English, French, German, Spanish, and Portuguese. Prospective and active clients can make through live chat, available 24 hours per day.  

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. 

FXPro is regulated by CySEC, DFSA, FCA, FSCA and SCB.

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.

Trading.com

Trading.com is operated by Trading Point of Financial Instruments UK Limited, which is licensed and authorized by the Financial Conduct Authority (FCA) and offers traders two account types – Ultra-Low Standard and Ultra-Low Micro, which will grant traders access to over 1 250 markets, among which nearly 60 currency pairs.

Traders can also choose from 18 spot indices, 13 futures indices, as well as precious metals like silver, gold, platinum and palladium, various commodities including oil, natural gas, sugar, cocoa, coffee, cotton, wheat, high grade copper, corn and soybeans, and a comprehensive list of European and US stocks.

Traders can open a live trading account at Trading.com with as little as 5 USD and the most commonly used payment methods, including Bank Wire Transfer, Credit/Debit Card, Neteller, Skrill, etc is accepted.  Besides for English the website is available in German, Spanish, French, Italian, Czech, Polish, Hungarian, Dutch, Portuguese and Swedish and there is 24/5 live support via chat, phone and email.

Blackstone future

Blackstone Futures

BlackStone Futures is an established FSCA-regulated broker which was founded in 2009 and is an established FSCA-regulated broker based in Johannesburg, South Africa and offers traders both ZAR and USD accounts on MT4 and the proprietary CloudTrade platforms. Traders just starting out receives excellent educational support.

Trading Conditions include ‚Äst

Minimum Deposit

ZAR 1000

Base currencies

ZAR, USD

Number of FX Pairs

32

Hedging Allowed

Yes

Scalping

Yes

Swap-Free Accounts

No

BlackStone Futures only allows withdrawals via bank transfer, and apart from the Economic Calendar and Market Sentiment tool, BlackStone Futures also offers daily market analysis via its social media channels.  Customer support is available 7am-10pm Monday-Friday and 12pm-10pm on Saturday/Sunday with the trading desk available 24/5, via live chat, telephone, email, Telegram, WhatsApp and via a call back service. 

ic markets

IC Markets

IC Markets was founded in 2007 and International Capital Markets Pty Ltd (IC Markets) was established in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009 and is considered average-risk.

Feature

IC Markets

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

63

CFDs – Total Offered

41

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

IC Markets offers three account types in which trading costs vary from commission-free on the Standard account to commission-based pricing on the True ECN and cTrader accounts and IC Markets provides a mobile version of all the platforms it offers, including MetaTrader 4 and MetaTrader 5 and cTrader, all of which come standard for iOS and Android.

IC Markets supports a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

Cityindex best broker

City Index

City Index is an online broker regulated by the FCA 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.

Admiral Markets

Admiral Markets

Admiral Markets is an online broker regulated by the FCA, ASIC, EFSA and CySEC 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!

FP Markets

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC 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.

xtb best broker

XTB

XTB is a trusted multi-asset broker authorised and regulated by the Financial Conduct Authority which provides a well-rounded, competitive offering including excellent customer service and the xStation 5 trading platform.  XTB was founded in 2002 and is publicly-traded and regulated in one tier-1 jurisdiction, making it a low-risk broker for forex and CFDs trading. XTB is the top choice for 230,000+ Forex traders globally.

Feature

XTB

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

49

CFDs – Total Offered

1894

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

XTB offers traders a Standard (for UK and Ireland residents only) and a commission-based Pro account and each account will come with its own execution method and spread model, in terms of commissions and fees.  The xStation 5 is the primary platform offering alongside the full MetaTrader 4 suite. Since xStation 5 does not support automated trading, MT4 must be used. 

XTB also offers traders mobile apps for Android and iOS and customer support in a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish.

The forex market is such a competitive place to make a start, let alone a successful one at that. Just thinking about sifting through the massive number of available brokers on the market today can be an immense task for an established trader, and even more so for a beginner.  In this section, we have added a quick overview of 5 more Best Forex Brokers and Platforms available to traders in Namibia.

vantagefx

Vantage FX

Vantage FX was founded in 2009 and offers retail forex and CFD traders the Metatrader platform suite, ChartIQ, as well as auto trading on ZuluTrade and Myfxbook and is considered average-risk.  Vantage FX is mainly a MetaTrader broker and offers traders the popular platform suite developed by MetaQuotes Software Corporation, which includes MetaTrader4 (MT4) and MetaTrader 5 (MT5). 

Vantage FX is regulated by ASIC (Australian Securities and Investment Commission).

Feature

Vantage FX

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

38

CFDs – Total Offered

24

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

Regardless of the platform a trader chooses to use, the trading cost at Vantage FX depends on the account opened and seeing that Vantage FX is a MetaTrader broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Google Playstore, respectively.

Axitrader

Axitrader

Axitrader is an online broker which was founded in 2007 and offers Forex, CFDs and Social Trading, is a global broker and has a head office situated in Australia with no minimum deposit needed to get started plus a demo account is on offer.

AxtTrader is authorised and regulated by the Australian Securities & Investments Commission (ASIC).

Axitrader is able to accommodate various levels of traders and offers the MT4 forex trading platform plus mobile apps for Android and iOS, respectively.

Axitrader Trading benefits include:

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

Axitrader Trading Accounts on Offer include Demo, Micro, Mini, Standard, ECN, STP and Islamic and support is offered in a wide range of languages.

alpari

Alpari

Alpari is a great choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms due to its established brand history, multiple offices, and range of account types and diverse managed account offering for investors.  The Alpari brand offers traders access to nearly 50 forex pairs and 30 CFDs on indices, commodities, precious metals, and on Bitcoin. 

Alpari is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Feature

Alpari

Forex: Spot Trading

Yes

Currency Pairs (Total Forex pairs)

48

CFDs – Total Offered

16

Social Trading / Copy-Trading

Yes

Cryptocurrency traded as actual

No

Cryptocurrency traded as CFD

Yes

The commissions and fees at Alpari vary depending on the account type and platform used native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

XM Group

XM Group

he 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 authorised and regulated in 3 countries: Australia (ASIC), Cyprus (CySec) and the United Kingdom (FCA).

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.

In Conclusion

Picking the right broker has a massive influence on how successful a trader will be and traders need to pick a well-regulated broker which not only keeps their money safe but also features a user-friendly trading platform. Brokerage selection is a necessary time investment in the success of a Forex trader.