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 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…
- Lesche Duvenage
Best ECN Forex Brokers in Botswana
🏛️ Broker | 👉 Open Account | 💵 Minimum Deposit | ✔️ ECN Forex Broker? | ✔️ Offers a Botswana Pula Account? |
1. Axi | 👉 Open Account | USD 0 / 0 BWP | Yes | Yes |
2. Exness | 👉 Open Account | USD 10 / 134 BWP | Yes | Yes |
3. Pepperstone | 👉 Open Account | USD 0 / 0 BWP | Yes | Yes |
4. FXTM | 👉 Open Account | USD 10 / 134 BWP | Yes | No |
5. Tickmill | 👉 Open Account | USD 100 / 1 343 BWP | Yes | Yes |
6. Markets.com | 👉 Open Account | USD 100 /1 343 BWP | Yes | No |
7. OctaFX | 👉 Open Account | USD 25 / 469 BWP | Yes | No |
8. FP Markets | 👉 Open Account | USD 100 /1 343 BWP | Yes | No |
9. IC Markets | 👉 Open Account | USD 200 / 2 685 BWP | Yes | No |
10 Best Forex Brokers in Botswana for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What are (Electronic Communication Network) ECN Brokers?
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.
9 Best ECN Forex Brokers in Botswana
- Axi – Overall, Best ECN Forex Broker in Botswana
- Exness – Top Sign-Up Bonus Forex Broker
- Pepperstone – Best ECN STP Forex Broker
- FXTM – Lowest Minimum Deposit Broker
- Tickmill – Best Nasdaq100/NAS100 Forex Broker
- Markets.com – Lowest Spread Broker
- OctaFX – Top Botswana Pula Trading Account Forex Broker
- FP Markets – User-Friendly ECN NDD Forex Broker for Botswana Traders
- IC Markets – Top Mobile Trading App in Botswana
1. Axi
Overview
Axi is a trusted brokerage firm that offers its services to over 60’000 traders across 100+ countries worldwide. Axi is known to offer competitive pricing, unbeatable value, free educational tools, and award-winning 24/5 customer service.
Min Deposit
USD 0 / 0 BWP
Regulators
FSA, FCA, ASIC, DFSA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
66
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Axi provides five different account types, Standard, Pro, Elite, Islamic Swap-Free, and Risk-Free Demo trading accounts. The minimum deposit amount required to register an Axi live trading account ranges from $0 USD – $25’000 USD.
Features
Feature | Value |
💳 Account setup costs | None |
📈 Average spreads | From 0.4 pips |
💸 Commissions on trades | None |
📈 Minimum Position Size | 0.01 lots |
💵 Minimum deposit requirement | $0 / 0 BWP |
💰 Range of markets | All |
📲 Mobile trading offered? | Yes |
📱 MT4 NextGen offered? | Yes |
🚀 Leverage offered? | Yes, 1:500 |
💸 Account Base Currency | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD |
✔️ Demo trading availability | 30 Days |
📈 VPS | Yes, free |
🤝 Expert Advisors offered? | Yes |
📉 AutoChartist | Yes |
💻 Myfxbook AutoTrade offered? | Yes |
💳 PsyQuation offered? | Yes |
💰 PsyQuation Premium offered? | Yes |
Pros and Cons
✔️ Pros | ❌ Cons |
Axi is a multi-regulated and award-winning CFD and forex broker | There are inactivity fees charged |
The platforms are user-friendly and available across devices | There is limited leverage offered to retail clients |
Botswana can deposit funds in Botswana Pula using local deposit methods | Deposit and withdrawal fees can be applied |
There are no account fees charged | There is only one trading platform offered |
AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offered | The demo account expires after 30 days |
There is a comprehensive trading academy provided | |
There is an active and helpful Axi community provided | |
Signal providers and free VPS is offered |
2. Exness
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.
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
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
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 |
3. Pepperstone
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.
Min Deposit
0 USD / 0 BWP
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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 Feature | Value |
💰 Minimum Deposit | $0 / 0 BWP |
💻 Minimum Trading Size | 0.01 lots |
📈 Maximum Trading Size | 100 lots in a single trade |
💵 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
✅ Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
🗞 News Trading Offered? | Yes |
➡️ Trade Execution | No-Dealing Desk (NDD) |
📊 Average EUR/USD Spread | From 0.6 pips |
💸 Commissions | None |
🔃 Rollover Swaps | Yes, 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 Offered | Yes, only for retail clients |
✅ Margin Close-Out (%) | 50% |
🔨 Trading Instruments offered | 1,200+ |
💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
Pros and Cons
✔️ Pros | ❌ Cons |
Pepperstone offers competitive spreads that start from 0.0 pips on EUR/USD | There 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 fees | There is no BWP-denominated account offered, subjecting Botswanans to currency conversion fees |
Investor protection is offered to EU clients through the FSCS | There 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
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.
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
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
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 |
5. Tickmill
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.
Min Deposit
$100 / 1 343 BWP
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
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
Feature | Information |
⚖️ Regulation | FSA, FCA, CySEC, Labuan FSA, FSCA |
⚖️ CBN Regulation | No |
✔️ Accepts Botswanan Traders? | Yes |
💳 Minimum deposit (BWP) | $100 / 1 343 BWP |
📈 Average spread from | 0.0 pips EUR/USD |
📈 Maximum Leverage | 1:500 |
👥 Customer Support | 24/5 |
Pros and Cons
✔️ Pros | ❌ Cons |
The broker offers commission-free trading across financial instruments | The broker does not accept clients from the United States and some other regions |
There are powerful trading platforms to choose from | Fixed 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
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.
Min Deposit
100 USD /1 349 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
Although Markets.com only provides a single live account, spreads begin at 0.6 pips (EUR/USD) and the minimum deposit required is merely 100 USD/1 343 BWP BWP.
Features
Account Feature | Value |
💵 Minimum Deposit | 1 349 BWP or an equivalent to $100 |
📊 Average Spreads | From 0.8 pips on major forex pairs |
📈 Average Spreads MetaTrader 4 | From 0.6 pips on major forex pairs |
📉 Average Spreads MetaTrader 5 | From 0.6 pips on major forex pairs |
💰 Commissions | None |
💵 Leverage | Up to 1:300 for non-EU traders |
💸 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • MarketsX |
📱 Customer Support Offered | Yes |
💻 Trading Signals | Yes |
🔧 Trading Tools offered | Yes |
🚨 Trading Alerts and Notifications | Customizable alerts |
📉 Range of Markets | 8,000+ financial instruments |
Pros and Cons
✔️ Pros | ❌ Cons |
Markets.com is extremely well-regulated | There 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
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.
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
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
Feature | Information |
⚖️ Regulation | FSA SVG, CySEC |
⚖️ CBN Regulation | No |
✔️ Accepts Botswanan Traders? | Yes |
💳 Minimum deposit (BWP) | $25 / 335 BWP |
Average spread from | 0.0 pips EUR/USD |
📈 Maximum Leverage | 1:500 |
👥 Customer Support | 24/5 |
Pros and Cons
✔️ Pros | ❌ Cons |
Fixed spread accounts are offered to retail traders | US clients are restricted |
The broker accepts hedging and scalping strategies | There 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. fpmarkets
Overview
fpmarkets 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 fpmarkets. However, the fpmarkets is otherwise regulated and authorized by other reputable entities to provide financial products and services.
Min Deposit
100 USD/1 343 BWP
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Furthermore, Barclays, BNP Paribas, Commerzbank, Credit Suisse, and Goldman Sachs are a few liquidity sources that fpmarkets use to provide low, competitive spreads. Spreads for Botswanan traders begin at 0 pips, and commissions start at $3.
Features
Account Feature | Value |
💰 Minimum Deposit | 880 Botswanan Pula or an equivalent to AU$100 |
📊 Average Spreads | Variable, from 0.0 pips |
✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
📈 Maximum Leverage Ratio | 1:500 |
📱 Execution Type | ECN |
💵 Commissions | US$3 per side |
👥 Expert Advisors Offered? | Yes |
📲 Mobile App Offered? | Yes |
✔️ VPS Available? | Yes |
Pros and Cons
✔️ PROS | ❌ CONS |
fpmarkets is a well-established Australian broker regulated by ASIC and CySEC | Fixed spreads are not available |
Botswanan traders can choose from an impressive range of markets that can be traded through powerful platforms | There are withdrawal fees charged on most payment methods that are supported |
fpmarkets offers comprehensive mobile trading opportunities | There 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 | |
fpmarkets 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 | |
fpmarkets offers a range of educational materials and advanced trading tools |
9. IC Markets
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.
Min Deposit
USD 200 / 2 685 BWP
Regulators
ASIC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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 Platform | MetaTrader 4 and 5 |
💰 Commission | None |
📈 Typical Average Spreads | 0.6 |
💳 Minimum Deposit Requirement | 2 685 Botswanan Pula equivalent to $200 |
📈 Leverage | 1:500 |
📈 Maximum positions per account | 200 |
🏛️ Server Location | New York |
✴️ Micro trading allowed? | Yes |
📊 Currency Pairs | 64 |
📊 Index CFD Trading | Yes |
📊 Stop-out | 50% |
📈 One-Click Trading offered? | Yes |
☪️ Islamic Accounts | Yes |
📊 Trading Styles accepted | Scalping, hedging, expert advisors, algorithmic strategies, etc. |
💻 Programming Language | MQL4 |
👍 Suitable for | Discretionary 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 reputation | There is a higher minimum deposit requirement charged than other brokers |
There is real raw spread trading offered across several asset classes | Botswanan traders could face currency conversion fees |
IC Markets offers some of the best spreads in the industry | There is no BWP-denominated account offered |
Botswanans can choose between MetaTrader 4, MetaTrader 5, and cTrader as their preferred platform | There are no fixed spreads offered by IC Markets |
There is a choice between three different account types that suit different types of traders | There 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.
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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.
Frequently Asked Questions
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.
Who are the top ECN Forex Brokers for Botswanans with MT4/Metatrader 4?
- OctaFX
- Axi
- Exness
- FXTM
- Pepperstone
Which ECN brokers offer a Botswana Pula (BWP) trading account?
- fpmarkets
- Exness
Which ECN Brokers offer trading apps?
- fpmarkets
- IC Markets
- Pepperstone
- Axi
- Exness
- Tickmill
Which ECN Brokers offer a sign-up bonus to first-time traders?
Tickmill has a sign up bonus.
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.