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9 Best ECN Forex Brokers in Botswana

The 9 Best ECN Brokers in Botswana revealed. We tested and verified the best ECN forex brokers for Botswanan Traders.

The is a complete list of True ECN forex brokers operating in Botswana. 

In this in-depth guide you’ll learn:

  • What are (Electronic Communication Network) ECN Brokers?
  • Who are the top ECN Forex Brokers for Botswanans with MT4/Metatrader 4?
  • How to choose the best forex broker for your trading experience?
  • Which ECN brokers offer a  Botswana Pula (BWP) trading account?
  • Which ECN brokers offer a low $5 (64 BWP) minimum deposit?
  • Which ECN Brokers offer trading apps?
  • Which ECN Brokers offer a sign-up bonus to first-time traders?
  • Best low spread forex broker for beginners Botswanan Traders?

 

And lots more…

So if you’re ready to go “all in” with the Top ECN Forex Brokers for Botswanans…

Let’s dive right in…

Updated : November 16, 2022

Best ECN Forex Brokers in Botswana

🏛️ Broker✔️ ECN Forex Broker?💵 Botswana Pula Deposits Allowed?✔️ Offers a Botswana Pula Account?👉 Open Account
1. XMYesYesYes👉 Open Account
2. ExnessYesYesYes👉 Open Account
3. PepperstoneYesYesYes👉 Open Account
4. FXTMYesNoNo👉 Open Account
5. TickmillYesYesYes👉 Open Account
6. Markets.comYesNoNo👉 Open Account
7. OctaFXYesYesNo👉 Open Account
8. FP MarketsYesNoNo👉 Open Account
9. IC MarketsYesNoNo👉 Open Account

9 Best ECN Forex Brokers in Botswana

  1. XM – Overall, Best ECN Forex Broker in Botswana
  2. Exness – Top Sign-Up Bonus Forex Broker
  3. Pepperstone – Best ECN STP Forex Broker
  4. FXTM – Lowest Minimum Deposit Broker
  5. Tickmill – Best Nasdaq100/NAS100 Forex Broker
  6. Markets.com – Lowest Spread Broker
  7. OctaFX – Top Botswana Pula Trading Account Forex Broker
  8. FP Markets – User-Friendly ECN NDD Forex Broker for Botswana Traders
  9. IC Markets – Top Mobile Trading App in Botswana

What is ECN in Forex?

👉 An ECN broker performs deals for prospective investors on the ECN. Due to the operation of an ECN, interacting with such brokers also results in cheaper expenses and more trading time.

 

👉 ECN brokers do not forward the order flow to market makers. Instead, they electronically match the parties in a transaction and transmit the orders to securities market intermediaries.

 

👉 Because an ECN broker matches transactions between market participants, it is unlawful for him to trade against his customer or clients. In addition, since ECN spreads are far less than those used by conventional brokers, ECN brokers charge customers a flat transaction fee.

 

👉 ECN brokers are preferable to dealing desk brokers since the ECN connects buyers and sellers directly.

1. XM

Overall Rating

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

Crypto

Yes

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation Time

24 Hours

Overview

👉 Popular among Botswanan traders, XM provides competitive prices for CFD and Forex trading products. In addition, XM utilizes credible liquidity sources and provides both fast and market trade execution.

 

👉 Traders in Botswana can expect competitive spreads and commissions on various retail trading accounts, with the added benefit that XM ensures no requotes and minimal slippage.

 

Features

FeatureInformation
⚖️ RegulationFSCA, IFSC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (NGN)$5 / 66 BWP
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:888
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
Negative balance protection is applied to retail investor accountsUS clients are restricted from accessing XM’s trading services
There are several secure payment methods to choose fromThere are no fixed spread accounts offered
The broker is known for low spreads, low commissions, and reliable trade execution speedsThere 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

2. Exness

Overall Rating

Min Deposit

USD 10

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Established in 2008, Exness is a broker based out of Cyprus regulated by multiple authorities. Despite the lack of a physical presence in Botswana, Exness is widely regarded as one of the best options for novice and experienced traders.

 

👉 Market execution is available for trades through Exness’ use of reputable liquidity providers like ADS Securities and FXCM Pro, with the following spreads and commissions on EUR/USD:

➡️ Standard Account – from 0.3 pips

➡️ Standard Cent Account – from 0.3 pips

➡️ Raw Spread Account – from 0.0 pips and commissions up to $3.50

➡️ Zero Account – from 0.0 pips and commissions from $0.1

➡️ Pro Account – 0.1 pips

 

Features

FeatureInformation
📈 Account Base CurrenciesAED, 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 Spread0.0 pips EUR/USD

💳 Botswanan Deposits/WithdrawalsYes

⚖️ CBN RegulationNo
📊 Account TypesStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📈 LeverageUnlimited
📊 Micro Account Offered?No
📈 Trading ToolsAnalytical tools, Trading calculators, currency converter, tick history, economic calendar
💻 Educational MaterialNone

👥 Botswanan-Based Customer SupportNo

 

Pros and Cons

✔️ Pros❌ Cons
Exness has a global presence and has authorization and regulation with market regulators around the globeThere is a limited selection of tradable instruments and only a few asset classes
Exness offers instant withdrawals and depositsThere 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
Exness offers 24/7 customer support that is both prompt and helpful
There are tight and variable spreads offered with competitive commissions

3. Pepperstone

Overall Rating

Min Deposit

10 USD /122 BWP

Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Pepperstone has an excellent reputation and is one of the world’s biggest FX and CFD brokers. Pepperstone works with various banks and financial institutions to offer liquidity, including HSBC, Barclays, and many more.

 

👉 Pepperstone utilizes many execution venues, including Sucden Financial Limited, IS Prime Limited, LMAX Limited, GAIN Capital, Jefferies Financial Services, Inc., and many more.

 

👉 As a result, Pepperstone provides some of the finest trading conditions and reasonable pricing for Botswanan traders.

 

Features

Account FeatureValue
💰 Minimum Deposit$130 / 1,700 BWP
💻 Minimum Trading Size0.01 lots
📈 Maximum Trading Size100 lots in a single trade
💵 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
✅ Trading Strategies SupportedAll including scalping, hedging, and Expert Advisors (EAs)
🗞 News Trading Offered?Yes
➡️ Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadFrom 0.6 pips
💸 CommissionsNone
🔃 Rollover SwapsYes, according to the market rates
⬆️ Maximum Leverage per region• Australia – 1:30
• Bahamas – 1:200
• Cyprus – 1:30
• Dubai – 1:30
• Germany – 1:30
• Botswana – 1:400
• United Kingdom – 1:30
❌ Negative Balance Protection OfferedYes, only for retail clients
✅ Margin Close-Out (%)50%
🔨 Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade

 

Pros and Cons

✔️ Pros❌ Cons
Pepperstone offers competitive spreads that start from 0.0 pips on EUR/USDThere are restrictions on the countries that may use Pepperstone’s Islamic account
Pepperstone is well-regulated and offers an extremely secure trading environment with transparent trading feesThere is no BWP-denominated account offered, subjecting Botswanans to currency conversion fees
Investor protection is offered to EU clients through the FSCSThere are additional administrative fees applied to the Islamic account
Pepperstone offers a choice between some of the best trading platforms
Negative balance protection is offered for clients in certain regions
There is an Islamic account offered to Muslim traders
There is a demo account offered by Pepperstone
There are several trading tools offered

4. FXTM

Overall Rating

Min Deposit

USD 10 / 134 BWP

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Advantage Account instantly attracts traders seeking an ECN account with high leverage. Maximum leverage is 2000:1, which is uncommon among ECN brokers.

 

👉 This high leverage is coupled with cheap trading costs, with spreads beginning at 0 pips on the EUR/USD and a round-turn charge of 4 USD, lower than many ECN brokers.

 

👉 The Advantage Account is accessible on the MT4 and MT5 trading platforms and needs a minimum investment of USD 500.

 

👉 The Advantage Plus Account provides traders who want commission-free trading with a larger average spread of 1.5 pips (EUR/USD) and zero commission fees.

 

👉 Advantage and Advantage Plus accounts provide access to 60 currency pairs, over 1,500 Stocks, 17 indices, and more. Furthermore, FXTM offers FXTM Invest to Botswanan traders, a robust copy-trading tool.

 

Features

FeatureInformation
⚖️ RegulationCySEC, FSCA, FCA, FSC Mauritius
⚖️ CBN Regulation?No
📊 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader
💰 Minimum Deposit (₦)4,100 Botswanan Naira equivalent to $10
💰 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets
🔎 Botswanan Naira-based Account?Yes
💳 NGN Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros ❌ Cons
FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthinessInactivity 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

5. Tickmill

Overall Rating

Min Deposit

USD 100

Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Since Tickmill is regulated and authorized by a few credible entities, trading CFDs and Forex with them carries a low level of risk. In addition, Tickmill’s ECN trade execution model, tight spreads, and low commissions set it apart from the competition.

 

👉 Botswanan traders can rest assured that they will receive competitive pricing on their trades thanks to Tickmill’s extensive network of liquidity providers, including Barclays and several other major banks and hedge funds.

 

Features

FeatureInformation
⚖️ RegulationFSA, FCA, CySEC, Labuan FSA, FSCA
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (NGN)$100 / 41,500 BWP
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:500
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers commission-free trading across financial instrumentsThe broker does not accept clients from the United States and some other regions
There are powerful trading platforms to choose fromFixed spread accounts are not offered
The broker is well-regulated in several regions
There is a selection of popular financial instruments that can be traded
There are several advanced trading tools offered

6. Markets.com

Overall Rating

Min Deposit

100 USD /1 232 BWP

Regulators

CySEC, FSCA, ASIC, FCA, FSC

Trading Desk

MetaTrader 4, MetaTrader 5 Markets.com,  proprietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Markets.com provides traders with quick, low-cost trading on a vast array of financial products, including over 2,000 stock CFDs, Forex, commodities, cryptocurrencies, indices, ETFs, and bonds.

 

👉 Although Markets.com only provides a single live account, spreads begin at 0.6 pips (EUR/USD) and the minimum deposit required is merely 1,300 BWP / $100.

 

Features

Account FeatureValue
💵 Minimum Deposit1,300 BWP or an equivalent to $100
📊 Average Spreads MarketsXFrom 0.8 pips on major forex pairs
📈 Average Spreads MetaTrader 4From 0.6 pips on major forex pairs
📉 Average Spreads MetaTrader 5From 0.6 pips on major forex pairs
💰 CommissionsNone
💵 LeverageUp to 1:300 for non-EU traders
💸 Trading Platforms• MetaTrader 4
• MetaTrader 5
• MarketsX
📱 Customer Support OfferedYes
💻 Trading SignalsYes
🔧 Trading Tools offeredYes
🚨 Trading Alerts and NotificationsCustomizable alerts
📉 Range of Markets8,000+ financial instruments

 

Pros and Cons

✔️ Pros❌ Cons
Markets.com is extremely well-regulatedThere is an inactivity fee
There are commission-free options offered
Markets.com provides advanced trading tools
There is 24/5 dedicated customer support
Botswanans can choose from flexible account types
There is a demo and Islamic account
There are flexible funding and withdrawal options offered

7. OctaFX

Overall Rating

Min Deposit

USD 5

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 OctaFX is a trustworthy broker that provides multiple trading account options, low trading costs, and a 97.5% order fill rate via slippage-free STP and ECN execution models. With its convenient interface and competitive spreads, OctaFX.com stands out.

 

👉 With such a modest minimum requirement, you may anticipate less-than-ideal spreads. However, OctaFX’s spreads are competitive across the board, including for “exotic” currency pairings.

 

👉 Traders in Botswana can open an account with OctaFX and benefit from market execution, spreads starting at 0.6 pips, and no trading fees, thanks to the company’s use of reputable liquidity providers.

 

Features

FeatureInformation
⚖️ RegulationFSA SVG, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (NGN)$100 / 41,500 BWP
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:500
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
Fixed spread accounts are offered to retail tradersUS clients are restricted
The broker accepts hedging and scalping strategiesThere are only a few financial markets that can be traded
Negative balance protection is applied to retail investor accounts
The broker is well-regulated and has a decent trust score
There is commission-free trading

8. FP Markets

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 FP Markets is a reputed and inexpensive broker that gives Botswanans access to over 8,000 trading securities across many asset classes.

 

👉 Local Botswanan market regulators might not regulate FP Markets. However, the FP Markets is otherwise regulated and authorized by other reputable entities to provide financial products and services.

 

👉 Furthermore, Barclays, BNP Paribas, Commerzbank, Credit Suisse, and Goldman Sachs are a few liquidity sources that FP Markets use to provide low, competitive spreads. Spreads for Botswanan traders begin at 0 pips, and commissions start at $3.

 

Features

Account FeatureValue
💰 Minimum Deposit880 Botswanan Pula or an equivalent to AU$100
📊 Average SpreadsVariable, from 0.0 pips

✔️ Instruments Available60+ Forex pairs, metals, indices, commodities
📈 Maximum Leverage Ratio1:500
📱 Execution TypeECN
💵 CommissionsUS$3 per side

👥 Expert Advisors Offered?Yes
📲 Mobile App Offered?Yes
✔️ VPS Available?Yes

 

Pros and Cons

✔️ PROS❌ CONS
FP Markets is a well-established Australian broker regulated by ASIC and CySECFixed spreads are not available
Botswanan traders can choose from an impressive range of markets that can be traded through powerful platformsThere are withdrawal fees charged on most payment methods that are supported
FP Markets offers comprehensive mobile trading opportunitiesThere are administration fees which apply to the Islamic accounts and trading
Botswanan traders can expect superior ECN pricing that includes raw and tight spreads and low commissions
FP Markets is known for its fast trade execution that is delivered through the Equinix servers
There are commission-free accounts offered that still feature competitive spreads
There are dedicated Islamic accounts for Muslim traders
FP Markets offers a range of educational materials and advanced trading tools

9. IC Markets

Overall Rating

Min Deposit

USD 200

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 When selecting an ECN broker, IC Markets is among the most user-friendly options for novice traders. As a bonus to their cheap trading costs, IC Markets also provides access to a library of instructional videos and seminars by industry professionals.

 

👉 IC Markets has great 24/7 technical assistance available to beginners and more advanced traders. In addition, the two Raw Spread Accounts on IC Markets provide the lowest trading costs, with average spreads on the EUR/USD as low as 0.1 pips.

 

👉 Both are Raw Spread accounts, meaning a small trading fee is associated with each transaction. There is no fee for trading with the Standard Account at IC Markets. However, spreads begin at 1 pip, so trading expenses are typical.

 

Features

Account Feature
Value
💻 Trading PlatformMetaTrader 4 and 5
💰 CommissionNone
📈 Typical Average Spreads0.6
💳 Minimum Deposit Requirement83,000 Botswanan Naira equivalent to $200
📈 Leverage1:500
📈 Maximum positions per account200
🏛️ Server LocationNew York
✴️ Micro trading allowed?Yes
📊 Currency Pairs64
📊 Index CFD TradingYes
📊 Stop-out50%
📈 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
📊 Trading Styles acceptedScalping, hedging, expert advisors, algorithmic strategies, etc.
💻 Programming LanguageMQL4
👍 Suitable forDiscretionary Traders
📊 Demo Account offered?Yes

 

Pros and Cons

✔️ Pros❌ Cons
IC Markets is a multi-regulated forex and CFD broker with a decent trust score and a low-risk reputationThere is a higher minimum deposit requirement charged than other brokers
There is real raw spread trading offered across several asset classesBotswanan traders could face currency conversion fees
IC Markets offers some of the best spreads in the industryThere is no BWP-denominated account offered
Botswanans can choose between MetaTrader 4, MetaTrader 5, and cTrader as their preferred platformThere are no fixed spreads offered by IC Markets
There is a choice between three different account types that suit different types of tradersThere is no proprietary trading platform, or an app offered by IC Markets
There are no hidden fees and IC Markets is one of the best options for high volume trading because it has a long list of liquidity providers
There is a free demo account offered
There is an Islamic account option offered to Muslim traders

How to Choose the Right Forex Broker in Botswana

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.

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

Min Deposit

USD 5

Regulators

FCA UK

Trading Desk

None

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

Min Deposit

USD 100

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

logo 19

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

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

Min Deposit

USD 10

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

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

Min Deposit

USD 5

Regulators

CySEC, FSC, CFTC

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

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

Min Deposit

USD 50

Regulators

CySec, FCA 

Trading Desk

None

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

👉 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

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

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

Min Deposit

USD 250 / 3 320 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

Min Deposit

USD 10 / 134 BWP

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

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

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Overall Rating

Min Deposit

USD0

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

👉 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

Min Deposit

$50 / 660 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

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

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

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

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

👉 An ECN broker is a Forex broker that employs an ECN to link buyers and sellers of currency. In contrast to a Market Maker broker, who takes trades onto its own books, an Electronic Communication Network (ECN) broker acts only as an intermediary.

 

👉 Forex brokers that employ an ECN to link their clients with market liquidity are known as ECN brokers. In contrast to a Market Maker broker, who accepts transactions into its own books, ECN brokers act only as intermediaries.

 

👉 Regardless of whether they trade using an ECN or Market Maker broker, Botswanan traders must evaluate all brokers before registering an account and starting trading.

FAQ

Should Botswanans use ECN brokers?

Trading with a real ECN broker provides more anonymity than with other brokers. This means that you can make the most of the present market situation.

Furthermore, you will be able to make unbiased trading decisions. Choose an ECN broker with lightning-fast order execution and low spreads for even greater profit potential.

 

Is an ECN broker a good choice for Botswanan scalpers?

Because ECN brokers can offer the tightest spreads (often as low as 0.0 pips), they are ideal for scalpers and other fast-paced trading strategies.

 

Is an ECN or Market Maker better for Botswanan traders?

Trading using an ECN broker can save you money compared to a typical market maker broker due to the low fee and low spread.

In addition, traders who use ECN brokers can expect lower transaction fees, more competitive spreads, access to the market around the clock, and a measure of anonymity.

 

What is a true ECN broker?

Because they do not have a dealing desk, ECN brokers do not share their clients’ order flow with market makers. Instead, they use technology to electronically pair traders and relay orders to market makers who can fulfil them.

Furthermore, in an electronic communication network (ECN), an ECN broker acts as a go-between for buyers and sellers.

 

How do true ECN brokers make money from Botswanans?

ECN forex brokers typically charge a commission fee instead of the spread, allowing them to earn money for facilitating the trade.

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.

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