8 Best Cent Account Forex Brokers in Botswana
The 8 Best Cent Account Forex Brokers for Botswana traders revealed. We tested the best forex trading platforms for Botswana Traders.
This is a complete guide to cent account brokers in Botswana.
In this in-depth guide you’ll learn:
- What is a Cent Account?
- Which forex brokers offer cent accounts to Botswana traders?
- What is the difference between a cent account and a micro account?
- Who is the Best Broker with a Cent Account in Botswana?
- Which Cent Accounts are best for beginner Botswana Traders?
- Which brokers offer a sign-up bonus for first-time traders on Cent accounts?
- What is an ECN Cent account?
- What is the lot size in a cent account?
And lots more…
So if you’re ready to go “all in” with the best cent account forex brokers…
Let’s dive right in…
- Lesche Duvenage
Best Cent Account Forex Brokers in Botswana
| 🏛️ Broker | 👉 Open Account | 💰 Cent Forex Broker? | 💵 Botswana Pula Deposits Allowed? | 💻 Trading Platform |
| 1. HFM | 👉 Open Account | Yes | Yes | MetaTrader 4 MetaTrader 5 |
| 2. FBS | 👉 Open Account | Yes | No | FBS Trader, MetaTrader 4, MetaTrader 5 |
| 3. InstaForex | 👉 Open Account | Yes | No | MetaTrader 4 MetaTrader 5 MultiTerminal WebTrader |
| 4. Exness | 👉 Open Account | Yes | Yes | MetaTrader 4 MetaTrader 5 Exness Terminal MetaTrader WebTerminal |
| 5. XM | 👉 Open Account | Yes | Yes | MT4 & MT5 |
| 6. RoboForex | 👉 Open Account | Yes | No | Meta Trader 4 |
| 7. SuperForex | 👉 Open Account | Yes | No | MetaTrader 4 |
| 8. FXTM | 👉 Open Account | Yes | No | MetaTrader 4 MetaTrader 5 |
10 Best Forex Brokers in Botswana for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a Cent Account?
A Cent Account is a type of trading account offered by some forex brokers that allows traders to trade in smaller denominations of currency.
In a Cent Account, the account balance, profits, and losses are expressed in cents rather than standard currency units like dollars or euros. This account type is primarily designed for beginners or traders who want to practice and test their strategies in a live trading environment without risking significant amounts of capital.
8 Best Cent Account Forex Brokers in Botswana
- ✔️ HFM – Overall, Best Cent Account Forex Broker in Botswana
- ✔️ FBS – Best Cent Accounts are best for beginner
- ✔️ InstaForex – Best STP Forex Broker in Botswana
- Exness – Top NDD Forex Broker
- XM – Outstanding high-quality educational content and market research.
- RoboForex -Top Sign-Up Bonus Broker
- SuperForex – Best Lowest Spread Forex Broker in Botswana
- FXTM – Top Cent Account Mobile Trading App
1. HFM
HFM was established in 2010 and is one of the only reputable brokerages that provide a penny account with high leverage. The broker gives maximum leverage of 1000:1 on major currency pairs and facilitates Forex and CFD trading.
Additionally, HFM provides direct market access for stock trading. HFM was established in 2010. HFM provides three basic accounts and two specialized copy trading accounts. However, the Micro Account stands out with a minimal investment of 0 USD and affordable trading costs.
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
Variable spreads on key currency pairings begin at 1 pip, which is tight for an account with such a modest minimum deposit, and there are no commission fees.
HFM supports the MT4 and MT5 platforms and its own mobile HF App, which enables customers to trade from charts and make deposits and withdrawals. Additionally, it features several unique trading tools to aid traders.
Overview
| Features | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, CMA, and FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
| 💸 Minimum Withdrawal Time | – |
| 📈 Maximum Withdrawal Time | 2 to 4 working days |
| 💰 Instant Deposits/Withdrawals? | Yes, deposits |
| 💳 BWP-Denominated Account? | No |
| 📱 Minimum Deposit Amount | $0 / 0 BWP |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanans can sign up for a practice account within minutes | The HFM App is limited and cannot be used for trading activities |
| The demo account is unlimited | |
| HFM offers educational materials that are ideal for beginners | |
| The demo account can be used on MT4 and MT5 | |
| HFM customer support is available to help Botswanans |
2. FBS
If you are searching for a forex broker that allows deposits as little as a few cents, your best bet is FBS. To get a cent account with FBS, you must deposit 1 USD / 13 BWP. By doing so, you will have a minimum balance of one dollar.
Commission-free trading is available via FBS with this account type. The minimum floating spread for the Euro to the US Dollar is 1 pip. FBS cent accounts may go up to a maximum leverage of 1:1000.
Overall Rating
- 4.7/5
Min Deposit
USD 5 / 67 BWP
Regulators
IFSC, FSCA (South Africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Botswanans must remember that their location determines the maximum leverage they can use. Furthermore, an STP model position execution and 0.3-second execution times are standard for FBS cent accounts.
FBS allows trading in various other asset types in addition to forex CFDs. Metals, indexes, energies, crypto, and equities are all included in this.
Trading on the go has never been easier than with FBS’s iOS and Android apps, which provide access to the company’s exclusive trading platform. In contrast, however, those who prefer to trade from their desktop computers have two platforms from which to choose, namely MT4 and MT5.
Overview
| Feature | Information |
| ⚖️ Regulation | IFSC, CySEC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | USD 5 / 96 Pula |
| 📊 Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:3000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There is a very low minimum deposit required | Several regions are restricted from service |
| FBS is an online broker with regulation through IFSC and the Cyprus Securities and Exchange Commission | The spreads on some accounts are very high |
| There is a choice between investor accounts | Inactivity fees apply to dormant accounts |
| Traders have access to fast, flexible payment methods | The demo account expires after 40 days |
| The trading conditions are favourable and competitive | Withdrawal fees and deposit fees are charged |
| There are demo accounts and Islamic Accounts | There is a limited selection of funding options and there are only two base account currencies |
| Customer service is available 24/7 | Currency conversion fees are charged on deposits made in currencies other than USD and EUR |
| The broker is reputable and has a high trust score | |
| FBS is an official trading partner that offers a comprehensive affiliate program | |
| There are several bonuses and promotions offered |
3. InstaForex
Over the last fifteen years since its founding in 2007, InstaForex has amassed a clientele of seven million traders.
Furthermore, InstaForex is well-known for being the primary sponsor of a few major sports teams and hosting incredible trading contests with total prize pools of up to $1,000,000.
Two of InstaForex’s four live rapid execution accounts have a $1 minimum deposit. Furthermore, they are specifically designed for traders interested in trading cents.
Overall Rating
- 4.8/5
Min Deposit
USD 1
Regulators
CySEC, FSC
Trading Desk
MetaTrader 4
MetaTrader 5
MultiTerminal
WebTrader
Crypto
Yes
Total Pairs
100
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Commission-free accounts have a fixed spread of 3 pips (EUR/USD), and commission-based accounts have a fixed spread of 0 pips (EUR/USD) for a round-turn commission of 30 USD per lot traded.
These fees are far greater than those charged by other brokers and do not change based on the number of trades placed or the degree of market volatility.
Furthermore, with InstaForex, traders can access over 100 currency pairs and a wide variety of exotic markets. Futures, commodities, cryptocurrency, and indexes are also available for trading.
Overview
| Feature | Information |
| ⚖️ Regulation | FSC, BVI, SIBA |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | Botswanan Pula ($1 / 13 BWP ) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:1000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons | |||
| The broker offers commission-free trading | There are restrictions on leverage for European Union clients | |||
| MetaTrader 4 and 5 are both offered, available across devices | US clients are not accepted | |||
| The broker is well-regulated and offers competitive trading conditions | ||||
| There is a choice between retail investor accounts, each suited to different types of traders | ||||
| There is a wide range of tradable assets offered |
4. Exness
Exness is one of the industry’s most reputable and well-known Forex and CFD brokers. The Exness Group offers a variety of trading instruments and account types for novice and experienced traders and is licensed by a few main regulatory agencies.
Since 2008, Exness broker has flourished in the trading industry, and its dedication to customer service is outstanding. The Demo account, Standard Cent Account, Standard account, Zero account, and Raw Spread account are the five account types offered by Exness.
Furthermore, there are no requotes during market execution, which is one of the fundamental and best advantages of all account types.
Overall Rating
- 4.9/5
Min Deposit
$10 / 134 BWP
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
A basic cent account is suited for traders who do not want to assume significant risk while trading high quantities. Moreover, this account type allows traders to trade tiny lots with popular currency pairings.
The Exness Cent account has a low 10 USD / 130 BWP requirements and 100 currency pairings to pick the optimal micro-lot, including precious metals such as silver and gold.
Furthermore, this account type offers unlimited leverage, and the minimum lot size is 0.01. Finally, to enhance the trading experience, the micro account type includes no commission fee and a spread that begins at 0.3 points.
Overview
| Feature | Information |
| 📈 Account Base Currencies | AED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR |
| 📊 Minimum Spread | 0.0 pips EUR/USD |
| 💳 Botswanan Deposits/Withdrawals | Yes |
| ⚖️ CBN Regulation | No |
| 📊 Account Types | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📈 Leverage | Unlimited |
| 📊 Micro Account Offered? | No |
| 📈 Trading Tools | Analytical tools, Trading calculators, currency converter, tick history, economic calendar |
| 💻 Educational Material | None |
| 👥 Botswanan-Based Customer Support | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker has a global presence and has authorization and regulation with market regulators around the globe | There is a limited selection of tradable instruments and only a few asset classes |
| Offers instant withdrawals and deposits | There are only a few funding options offered |
| Botswanan traders have a choice between several dynamic account types | |
| Client fund safety is guaranteed and there is investor protection offered | |
| Offers 24/7 customer support that is both prompt and helpful | |
| There are tight and variable spreads offered with competitive commissions |
5. XM
XM boasts among the lowest costs in the business, offers superior research and education, and has a beginner-friendly trading interface. Moreover, XM is a fantastic alternative for most Botswanan Traders because of its vast client base and positive reputation.
Investors are presented with a highly fair and dependable opportunity to engage in international financial markets. In addition, XM provides customer service in more than 30 different languages.
Overall Rating
- 4.8/5
Min Deposit
USD 5 / 67 BWP
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
XM enables Forex (Forex) and CFD trading on commodities, precious metals, energy, equities, and indices. The current number of marketplaces open to traders surpasses one thousand. In addition, the broker serves as an intermediary in the case of tradable contracts for difference.
XM provides four distinct account options: a Micro, Standard, Ultra-Low, and Shares Account. Except for the shares account, all XM accounts have a $5 / 66 BWP minimum deposit, making them accessible to newcomers.
Furthermore, spreads on the EUR/USD for XM’s entry-level account average 1 pip, which is wider than other forex brokers.
Overview
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | $5 / 67 BWP |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:1000 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Negative balance protection is applied to retail investor accounts | US clients are restricted from accessing XM’s trading services |
| There are several secure payment methods to choose from | There are no fixed spread accounts offered |
| The broker is known for low spreads, low commissions, and reliable trade execution speeds | There is an inactivity fee applied to dormant accounts |
| Traders can use hedging, scalping, and expert advisor trading strategies | |
| The broker offers personal customer service to its clients |
6. RoboForex
RoboForex was founded in 2009 and has been quite successful due to its extensive trading asset offerings and user-friendly interface. In addition, RoboForex’s live CFD accounts may be opened with a ten-dollar (135 BWP) deposit.
Even if the spread on commission-free CFD accounts is higher than that of certain brokers (0.00 pips), traders can use lower transaction sizes (micro-lots).
Accounts can only be held in USD, EUR, CNY, BTC, Gold, and ETH. However, scalping, hedging, and netting are all supported. By allowing users to mimic the trades of more seasoned investors, CopyFX is useful for both novice and seasoned traders.
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
36
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex’s ProCent Account is ideal for trying out expert advisors and tactics before switching from a demo to a live trading environment.
Furthermore, commission-free trading is possible with the Pro-Cent Account, which offers spreads beginning at 1.3 pips (wider than most other brokers’ entry-level accounts) and leverage up to 2000:1.
The Pro-Cent Account is ideal for novice traders because of its modest minimum deposit of only USD 10. In addition, 36 currency pairs and metals are available for trading with this account, and traders may use only the MT4 and MT5 platforms.
Overview
| Feature | Information |
| ⚖️ Regulation | IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | Botswanan Pula $10/134 BWP |
| Average spread from | Floating from 1.3 pips |
| 📈 Maximum Leverage | 1:2000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker offers more than 12,000 markets that can be traded | US clients are not accepted |
| There are several flexible account types offered | There are no fixed spread accounts |
| Trading education is offered to all traders | |
| There are several powerful trading tools | |
| The broker applies negative balance protection to all retail trading accounts |
7. SuperForex
With a large number of Forex pairings and a similar number of trading account types, SuperForex seems to welcome as many customers as possible.
SuperForex is an online broker founded in 2013 to surpass customer expectations by providing innovative and high-quality online trading services. SuperForex is a global brokerage that offers customers over 400 CFD products that can be traded online using the user-friendly MT4 platform.
In addition, SuperForex runs other subsidiaries in foreign nations. Furthermore, SuperForex services are used by over two hundred thousand consumers from over one hundred fifty nationalities.
Overall Rating
- 4.6/5
Min Deposit
USD 1 / 13 BWP
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
300
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
SuperForex offers eleven retail trading accounts, three of which are micro, namely a Micro Cent, ECN Standard Mini Account, and ECN Swap-Free Mini.
The minimum deposit on these accounts is low and competitive, with spreads from 2 pips EUR/USD on the Micro Cent Account, much higher than other brokers charge.
In contrast, the ECN Standard Mini and Swap-Free Mini have spread from 0.0 pips but commissions from 10 to 40 USD.
Overview
| Feature | Information |
| ⚖️ Regulation | IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | 13 Botswanan Pula equivalent to $1 |
| Average spread from | Variable spread |
| 📈 Maximum Leverage | 1:1000 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker offers both variable and fixed spreads | Unregulated and offshore broker |
| There is no minimum deposit requirement | There are several regions restricted from accessing SuperForex’s services |
| There are daily analysis tools and trading signals available | Spreads are marked-up |
| VPS access is provided to eligible clients | There is a limited selection of markets offered |
| There are several flexible account types to choose from |
8. FXTM
FXTM will be an excellent option for many beginning and expert Botswanan traders. It features a low-deposit Micro Account, an outstanding copy trading platform, and various video and textual instructional courses.
FXTM’s daily market analysis will also assist novices in comprehending the real-world effects of news events on the foreign exchange market and identifying trading chances.
FXTM has a cent account that needs a $10/ 135 BWP minimum initial deposit. Consequently, this is suitable for most trading budgets. However, the FXTM cent account can only be accessed through MT4.
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Considering that MT4 is loaded with comprehensive analytical tools and capabilities, this will appeal more to experienced traders. Nonetheless, the maximum leverage ratio for the cent account is 1:1000.
Leverage depends on the region; therefore, European traders, for example, will continue to have a maximum leverage of 1:30 unless they are designated professional customers.
Furthermore, the FXTM cent account for forex trading is commission-free. However, EUR/USD spreads begin at a substantial 1.5 pips. FXTM provides CFD instruments outside of the currency market as well.
These instruments include equities, metals on the spot market, energies, indexes, and more. In addition, those new to FXTM can consider opening a demo trading account, providing a risk-free method to evaluate FXTM before depositing real money.
Overview
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit | 134 Botswanan Pula equivalent to $10 |
| 💰 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets |
| 🔎 Botswanan Pula-based Account? | Yes |
| 💳 BWP Deposits Allowed? | Yes |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthiness | Inactivity fees apply when the retail investor account becomes dormant |
| Dedicated customer support offered for Botswanan traders Several deposit options and withdrawal methods offered | |
| There is a low minimum deposit requirement | |
| Commission-free trading is offered | |
| Deposit fees are not charged on any payment methods | |
| Withdrawal processing times are quick | |
| There are several educational tools offered | |
| There is an exclusive risk management tool offered |
How to Choose the Right Forex Broker in Botswana
Botswanan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.
Regulations and Licenses
This is the first vital component that Botswanan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.
Botswanans must beware when dealing with brokers with only offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Botswanans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Botswanans must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor. Botswanans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Botswanan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.
What is the difference between a cent account and a micro account?
The differences between cent and micro accounts are not that many, but they are rather significant. Here are the main areas where they are different:
Trading Volume
The cent account has a trading volume of 100 units, regardless of the base currency that you use. On the other hand, micro accounts go as high as $1,000 units in the base currency. This makes the latter a better option for those who are more experienced in the trading process.
Lots
The lots in both accounts are similar but hold different trading volumes. For the cent account, 100 units are called 1-cent lots. As expected, trading volumes or micro accounts are 1,000 units per one micro lot. Therefore, the Forex Cent lot is the equivalent of 10% of a Micro lot.
What Do These Differences Mean?
Forex trading comes with several risks. To minimize the risks while maximizing your profits, forex brokers with “Micro” or “Cent” types of accounts will choose the best type for your needs. Your forex experience will also be taken into account when they do that.
To make the trading risks as low as possible, the micro account reduces the minimum trading lot, whereas the cent account makes use of the account currency. When the minimum trading size of a micro account is turned into a trading lot, it can reach much lower in comparison to a micro account.
As such, cent accounts come at lower risks when compared to micro accounts while not needing a high deposit. If you are a beginner in the trading industry, a cent account may be the better choice for you. This allows you to browse through the market and exchange forex currencies without putting too much money at risk.
On the other hand, micro accounts give you a better chance for profit. This is because the micro account holds more power, the earnings being more significant. This is why micro accounts represent the better choice for traders that already know the market and want to take a better chance at a profit.
The Best Forex Brokers in Botswana
In this article, we have listed the best brokers that offer forex trading to traders in Botswana. In addition, we have further identified the brokers that offer additional services and solutions to Botswanan traders.
Best MetaTrader 4 / MT4 Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 25
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, OctaFX is the best MT4 forex broker in Botswana. OctaFX is an MT4 and MT5 broker that provides Botswanans with various markets. OctaFX offers a choice of accounts via MT4, including ECN and STP accounts, with superior trade execution.
Best MetaTrader 5 / MT5 Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$100 / 1 342 BWP
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, AvaTrade is the best MetaTrader 5 forex broker in Botswana. In addition, AvaTrade is regarded as one of the most secure MT5 forex brokers.
No commission is charged for trading currency pairings, only leaving the spread to be paid. A demo account is also available for traders to sharpen their abilities via MT5 and several other platforms.
Best Forex Broker for beginners in Botswana
Overall Rating
- 4.1/5
Min Deposit
$100
Regulators
CFT, NFA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FOREX.com is the best forex broker for beginners in Botswana. FOREX.com is a broker renowned for low trading fees and beginner-friendly solutions. In addition, FOREX.com offers several educational materials and a helpful demo account.
Best Low Minimum Deposit Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$10 / 134 BWP
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Exness is the best Low Minimum Deposit Forex Broker in Botswana. Exness has a minimum deposit requirement of 10 USD / 130 BWP, making it easy for Botswanans to start trading 278 instruments.
Exness also offers MT4 and MT5 through which trades can be made. In addition, it offers some of the best trading tools, charting capabilities, technical indicators, expert advisors, and more.
Best ECN Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
Overall, HFM is the best ECN forex broker in Botswana. HFM is a hybrid forex and CFD broker that uses STP and ECN technology to ensure that Botswanans get the best pricing, minimal slippage, no requotes, and the fastest trade execution.
HFM uses the best liquidity providers who aggregate the pricing that Botswanans can see on MT4, MT5, and the HF App for Android and iOS.
Best Islamic / Swap-Free Forex Broker in Botswana
Overall Rating
- 4.8/5
Min Deposit
USD 10 / 136 BWP
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, eToro is the best Islamic / Swap-Free forex broker in Botswana. eToro is a renowned social trading platform that offers Muslim traders an Islamic Account.
eToro does not charge any interest on positions held for over 24 hours. However, registering an Islamic Account can be expensive initially, requiring a 1,000 USD / 13,400 BWP deposit.
Best Forex Trading App in Botswana
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 BWP
Regulators
ASIC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, CMC Markets is the best forex trading app in Botswana. In addition, CMC Markets offers a user-friendly mobile app with research tools, powerful charts, customizable watch lists, news reports, and a range of educational materials.
Best Lowest Spread Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 0 / 0 BWP
Regulators
FCA, CySEC, IFSC, KNF
Trading Desk
No Trading Desk
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, XTB is the best lowest-spread forex broker in Botswana. XTB is a well-known forex and CFD broker with low and competitive forex spreads from 0.1 pips depending on the financial instrument and the market conditions.
XTB is also a good broker in terms of educational materials and research capabilities, providing traders with comprehensive market analysis across markets.
Best Nasdaq 100 Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXTM is the best Nasdaq 100 forex broker in Botswana. FXTM is a multi-regulated forex and CFD broker that accommodates Botswanan traders with a keen interest in Nasdaq. Traders can expect low and competitive spreads, a choice between accounts, and powerful trading platforms.
Best Volatility 75 / VIX 75 Forex Broker in Botswana
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 BWP
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, IG is Botswana’s best Volatility 75 / VIX 75 forex broker. IG is one of the best CFD brokers with powerful proprietary trading technology.
IG is well-regulated and offers Botswanans access to VIX75, with spreads from 0.04 pips / 0.13% and zero commission charges.
Best NDD Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 50 / 672 BWP
Regulators
FCA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXCM is the best NDD forex broker in Botswana. FXCM is a No-Dealing Desk broker with STP and ECN execution across several markets.
In addition, FXCM offers a choice between third-party platforms in addition to technical indicators, charting tools, and competitive trading conditions.
Best STP Forex Broker in Botswana
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
36
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, RoboForex is the best STP forex broker in Botswana. RoboForex is popular forex and CFD broker with competitive trading conditions. RoboForex offers STP execution with liquidity sourced from top providers.
Botswanans can expect access to over 12,000 instruments via powerful and innovative third-party platforms.
Best Sign-up Bonus Broker in Botswana
Overall Rating
- 4.7/5
Min Deposit
50 USD / 682 BWP
Regulators
CYSEC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Windsor Brokers is the best sign-up bonus broker in Botswana. Windsor Brokers is a well-regulated broker that offers Botswanans a welcome account funded with 30 USD in trading credit. With this account, Botswanans can explore the platform or risk-free test their strategies.
Conclusion
Even though cent accounts have low account minimums and minimal minimum stakes, spreads and fees could be significant. Therefore, while Cent Accounts are a good place for beginners to start and where experienced traders test strategies, the trading costs can be high.
Traders must consider how much they are willing to invest when registering a Cent Account and ensure that they choose a reputable and well-regulated broker. Furthermore, traders must heed caution when they use leverage to boost their initial investment to open larger positions.
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Frequently Asked Questions
Which Cent Account forex broker is best for Beginner Traders in Botswana?
HFM, FBS, InstaForex, Exness, and several other Cent Account brokers are ideal for beginners based on their trading conditions and user-friendly platforms.
Are the risks high on a Cent Account?
The trading risk on the Cent account is minimal. Consequently, it is a good option for Forex beginners. In addition, this sort of account might be an interesting choice for seasoned traders who want to test new tactics.
What leverage should Botswanans use on a Cent Account?
There is no standard size; it depends on your trading objectives and available funds.
Can I make money with a Cent Account in Botswana?
You might not be able to make large profits with a Cent Account, given that the account is denominated in cents, which means that your profits and losses will also be denominated in cents.
How many lots is 0.01 in Forex?
0.01 lots in Forex are micro lots, which consist of 1,000 units of the base currency, or 1,000 USD / 12,900 BWP.
Who is the Best Broker with a Cent Account in Botswana?
- HFM
- FBS
- InstaForex
- Exness
- XM
- RoboForex
- SuperForex
- FXTM
Which Cent Accounts are best for beginner Botswana Traders?
- Exness
- FXTM
- HFM
Which brokers offer a sign-up bonus for first-time traders on Cent accounts?
- RoboForex
- FXTM
- XM
- Exness
What is an ECN Cent account?
A Real ECN account is a pure order-matching execution system that charges a premium commission per trade, rather than causing the raw spread to artificially inflate in the natural order-matching process. With this type of account, you get access to more reliable and cost-effective trades.
What is the lot size in a cent account?
Description 1 Cent lot equals 0,01 of a Standard lot or 1,000 units. The max order volume is 500 cent lots, which is 5 Standard lots or 500,000 units. Cent accounts involve a different level of risk. We recommend them for beginner traders.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
