13 Best Forex Brokers in Botswana
The 13 Best Forex Brokers for Botswana traders revealed. We tested the best forex brokers for Botswana Traders.
This is a complete guide to forex brokers in Botswana.
In this in-depth guide you’ll learn:
- What is a Forex Broker?
- Which forex brokers offer the best trading platforms for Botswana traders?
- Which trading platforms can you use with M-PESA?
- Which Forex Brokers are best for beginner Botswana Traders?
- Which brokers offer a sign-up bonus for first-time traders in Botswana?
- Which brokers offer a low minimum deposit of $5 (64 BWP) to start trading?
- Which brokers offer a mobile app on IOS and Android for Botswana Traders?
And lots more…
So if you’re ready to go “all in” with the best-tested forex brokers…
Let’s dive right in…
- Lesche Duvenage
13 Best Forex Brokers in Botswana
| 🏅 Broker | 💰 Minimum Deposit | 👉 Open Account | ✅ Botswana Pula Account? | 💻 Botswana Pula Deposits Allowed? |
| 1. Pepperstone | $0 / 0 BWP | 👉 Open Account | Yes | Yes |
| 2. OctaFX | $25 / 335 BWP | 👉 Open Account | Yes | No |
| 3. CM Trading | $100 / 1 342 BWP | 👉 Open Account | Yes | Yes |
| 4. Tickmill | $100 / 1 342 BWP | 👉 Open Account | Yes | Yes |
| 5. OANDA | $0 / 0 BWP | 👉 Open Account | Yes | No |
| 6. FBS | $5 / 96 BWP | 👉 Open Account | Yes | No |
| 7. BDSwiss | $10 / 134 BWP | 👉 Open Account | Yes | Yes |
| 8. FP Markets | $100 / 1 342 BWP | 👉 Open Account | Yes | No |
| 9 Exness | $10 / 134 BWP | 👉 Open Account | Yes | Yes |
| 10. XM | $5 / 67 BWP | 👉 Open Account | Yes | Yes |
| 11. HFM | $0 / 0 BWP | 👉 Open Account | Yes | Yes |
| 12. Axiory | $10 / 134 BWP | 👉 Open Account | Yes | No |
| 13. AvaTrade | $100 / 1 342 BWP | 👉 Open Account | Yes | Yes |
10 Best Forex Brokers in Botswana
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a Forex Broker?
A forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies. Forex is short for foreign exchange. Transactions in the forex market are always between a pair of two different currencies.
13 Best Forex Brokers in Botswana
- ✔️ Pepperstone – Overall, Best Forex Broker in Botswana
- ✔️ OctaFX – Best Copy Trading Broker in Botswana
- ✔️ CM Trading – Top Broker for Beginner Traders
- Tickmill – Best Regulated Broker in Botswana
- OANDA – Top Regulatory Broker in Botswana
- FBS – Best Broker for Any Experience Level
- BDSwiss – Most Tradable Asset Broker
- FP Markets – Top ECN Broker in Botswana
- Exness – Lowest Deposit Broker
- XM – Best Lowest Spread Broker
- HFM – Top CFD Broker in Botswana
- Axiory – Best MetaTrader4/MT4 Broker
- AvaTrade – Top Mobile App Broker in Botswana
1. Pepperstone
Overview
Since opening its doors in 2010, Pepperstone Group, located in Australia, has risen to the forefront of the online brokerage industry, constructing a highly competitive and feature-rich trading site that concentrates on Forex, shares, indices, metals, commodities, and even cryptocurrencies.
Overall Rating
- 4.9/5
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
Clients can focus on the challenging task of trading successfully thanks to Pepperstone’s simple market access.
Pepperstone is ideal for traders that want a wide range of affordable services, a flexible user interface, many account type possibilities, and efficient customer support.
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 |
2. OctaFX
Overview
OctaFX began accepting customers in 2011, and their spreads on trades fluctuate. It is important to note that OctaFX is a Metatrader-only forex broker.
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
In addition to MetaTrader 4 (MT4) and the newest MT5 platforms, they also have their own forex trading and copy trading applications. Furthermore, they provide the Metatrader platform, which works on several devices (computers, smartphones, etc.).
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 |
3. CM Trading
Overview
Since its inception in 2012, CM Trading has operated as Blackstone Marketing SA (PTY) LTD subsidiary in South Africa. Its major market is African countries, but it also serves clients all around the globe with a broad range of innovative trade solutions.
Overall Rating
- 4.8/5
Min Deposit
USD100
Regulators
FSA
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
154
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
When you use CM Trading, you may easily and quickly access the market from your desktop computer, web browser, or mobile device. However, suppose you are new to online trading and are a novice. In that case, you may find a few useful educational materials on the topic.
Features
| Account Feature | Value |
| 💳 Minimum Deposit | $100 / 1 342 BWP |
| 📊 Demo Account | Yes |
| 📈 Educational materials | Yes, Trading eBook, Webinars |
| ✴️ Market Reviews | Yes |
| 📈 Spreads from | Regular spreads |
| 🔎 Live Trading Signals | No |
| 📊 Risk-Free Trades offered | No |
| 🎓 Personal Assistant offered? | No |
| 📈 Trading Central Trading Signals | No |
| 👨💼 Trading Central Live Trading Signals | No |
| 🚀 Cashback Rebates | No |
| 🔎 Access to ECN? | No |
| 📊 Market News and Analysis For Fundamental Analysis | No |
| 📈 Special Offers | No |
| Dedicated Trading Room | No |
| 📊 Trading specialist offering investment advice | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| CM Trading is a good option for Botswanan beginners | CM Trading does not have Tier-1 regulations |
| The customer support offered by CM Trading is outstanding | Withdrawals can be expensive |
| There are copy trading opportunities offered to traders | Traders must register for a live account to opt for a demo account |
| CM Trading has user-friendly trading platforms for mobile, desktop, and web browsers | |
| CM Trading does not charge any commissions | |
| Hedging, scalping, and EAs are allowed | |
| There is an Islamic account offered to Muslim traders | |
| CM Trading offers daily market analysis |
4. Tickmill
Overview
Tickmill is an NDD broker authorized by Seychelles FSA, FCA, CySEC, Labuan FSA, and FSCA. Tickmill is a Metatrader-only FX and CFD broker that has been around since 2014 and provides access to the MT4, MT5, and WebTrader platforms.
Overall Rating
- 4.7/5
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
There are 62 different currency pairs available for forex trading, 23 different stock index CFDs, 3 oil CFDs, 4 metal CFDs, 8 cryptocurrency CFDs, 98 stock CFDs, and 4 bonds to trade.
In addition, Botswanan traders can get up to 1:500 leverage according to the financial instrument they trade and the region in which they reside.
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 |
5. OANDA
Overview
Even though local market authorities do not approve OANDA in Botswana or local offices in Gaborone, novice and expert traders in the region should expect OANDA to provide competitive trading conditions.
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
In addition to a vast selection of tradable products, OANDA provides advantageous trading circumstances to its traders. OANDA has offices all around the globe, from Japan to Singapore, with local regulation and authorization commensurate with global operations.
Providing an Islamic Swap-Free account, which gives Muslim Botswanan traders extraordinary trading conditions and privileges, is one of the greatest advantages of OANDA.
Features
| Account Feature | Value |
| ✔️ Full Account Verification Needed? | No |
| 📈 Average Spreads | Variable, from 1 pip |
| 🔎Commissions (Per 1 mil traded) | None |
| 📈 Maximum Leverage | 1:200 |
| ✴️ Minimum lot size | 0.01 lots |
| 📊 Instruments | 81 |
| 🔎Stop-Out | 50% |
| 🌐 One-Click Trading offered? | Yes |
| 📈 Strategies allowed | All |
| 📊 Base Account Currency | USD, EUR, HKD, SGD |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Proprietary desktop trading platforms offered alongside MetaTrader 4 and 5 | Fixed spreads are not offered |
| Offers an impressive array of financial instruments including most currency pairs | There is a monthly inactivity fee applied |
| Innovative mobile trading apps and mobile platforms provided | |
| There are several advanced charting tools and charting features offered | |
| Negative balance protection is applied to accounts | |
| The broker accepts a wide range of trading strategies including algorithmic trading, hedging, scalping, and more | |
| There is a comprehensive range of trading tools and analytical tools offered | |
| Deposit fees are not charged and there are several deposit options | |
| Offers a decent selection of educational materials including educational articles | |
| Client funds are kept in segregated accounts |
6. FBS
Overview
Originally established in Belize, FBS has now opened an office in Cyprus. FBS also has a presence in Australia and South Africa through owned subsidiaries. This aids and promotes the company’s goal of catering to traders of all experience levels worldwide.
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
FBS is an excellent choice for traders because of its long service history, low spreads, and extensive teaching center.
Among the many trading choices available via FBS, some of the most noteworthy include the crypto-only account, the basic account with no fees, the trading of over a hundred different cryptocurrency pairings, and the use of a simple mobile trading interface.
Features
| 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 |
| FBS offers competitive trading conditions with some of the lowest spreads | There are wide spreads charges on some accounts |
| There are several account types to choose from | There is a limited number of tradable instruments |
| There are many social trading opportunities | There are several regional restrictions applied |
| There is an ultra-low minimum deposit requirement | |
| The broker is well-regulated and trusted |
7. BDSwiss
Overview
BDSwiss is a multi-regulatory, award-winning broker having offices in Cyprus and Mauritius, regulated by CySEC, FSC, BaFIN, and FSA.
Overall Rating
- 4.7/5
Min Deposit
$10 / 136 BWP
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Yes
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
When creating a live account, Botswana traders get access to a few tradable products, including Forex. The minimum necessary deposit of 1,300 BWP is typical compared to brokers that provide comparable trading conditions.
In addition, BDSwiss supports MetaTrader 4 and MetaTrader 5. As a result, traders may take advantage of leverage of up to 1:1000, tight and variable spreads, and incredibly cheap trading fees.
Features
| 💠 Account Feature | 💰 Value |
| 📈 Average Spread on EUR/USD | 1.5 pips |
| 📈 Maximum Leverage | 1:500 |
| 🔆 Tradable Instruments | Over 250 |
| 📈 Available Assets | Forex CFDs Stocks CFDs Indices CFDs Commodities CFDs Cryptocurrencies CFDs |
| 🔎 Commissions per round lot | $2 on Indices 0.15% on Shares |
| ✴️ Margin Call | 50% |
| 📊 Stop-out level | 20% |
| 💳 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💳 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | All |
| 📊 Are trading alerts offered? | Limited Access granted |
| 📈 AutoChartist Performance Stats offered? | Yes, with a 6,400 BWP minimum deposit |
| 🎓 Personal Account Manager | Yes, with a 12,900 BWP minimum deposit |
| Priority Service | No |
| 📈 AutoChartist Standard Tools | Yes |
| 🚀 Access to Trading Central? | Yes |
| 📊Trading Academy and Live Webinars | Yes |
| 📊Trade Companion offered? | No |
| ☪️ Islamic Account option? | Yes |
| 🔎 VIP Webinars | No |
| 👨💼 24/5 Customer Service and Support? | Yes |
| 💳 Minimum deposit requirement | $10 / 134 BWP |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| BDSwiss is multi-regulated and offers high liquidity | Withdrawal fees are charged |
| There is a range of markets that can be traded | There are no local deposit or withdrawal methods offered to Botswanan traders |
| BDSwiss offers competitive trading conditions and a choice between account types | There is no desktop version of the BDSwiss trading platform |
| There is optimal service offered by prompt and dedicated customer support | |
| There are user-friendly and flexible trading platforms offered | |
| BDSwiss offers a large range of trading tools and research | |
| There are educational materials offered to beginner Botswanan traders | |
| There is an industry-standard deposit requirement when Botswanan traders register an account |
8. FP Markets
Overview
FP Markets has been operating since 2005, making it an industry veteran with a wealth of experience thanks to its global clientele.
In addition, FP Markets invests heavily in research and development and uses innovative trading technologies, including electronic bridges, to strengthen its value offering.
Overall Rating
- 4.7/5
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
FP Markets stands out as a great option when it comes to currency exchange (FX) and contracts for difference (CFDs). MetaTrader and Raw ECN accounts on a commission basis with very tight spreads are available via FP Markets.
FP Markets offers MT4 and MT5, allowing traders to access over 12,000 distinct symbols.
Features
| Account Feature | Value |
| 💰 Minimum Deposit | 100 USD / 1 343 BWP |
| 📊 Average Spreads | Variable, from 1 pip |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | None |
| 👥 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. Exness
Overview
Exness is a globally known broker with two primary offices in Seychelles, South Africa, and the UK. In addition, Exness is also recognized as a Cyprus-based broker regulated and licensed by FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, and FCA.
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
Exness requires a minimum deposit of 130 BWP to create an account. By creating a live trading account, Botswana traders have access to a wide range of tradable financial products, including Forex and other CFDs.
MetaTrader 4 and MetaTrader 5 are also supported, along with unlimited leverage on some accounts, tight spreads, and no hidden commission fees.
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 |
10. XM
Overview
XM is a respected ECN and STP broker tightly regulated by FSCA, CySEC, DFSA, IFSC, and ASIC. Its services are available in over 196 countries to over 2.5 million customers for trading Forex, commodities, metals, and indices, among other financial instruments.
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
Botswana traders may anticipate minimal deposits of 66 BWP, tight and variable spreads, ultra-low transaction commissions, a maximum leverage of 1:888, and access to the greatest trading platforms when opening a real account.
Features
| 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 |
11. HFM
Overview
HFM is an international CFD broker that allows its clients to trade foreign exchange, cryptocurrencies, metals, energy, indices, shares, commodities, bonds, and exchange-traded funds, among other financial products.
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
The entry-level account requires just 0 USD / 0 BWP in funding, while more advanced traders provide up to a thousand to one leverage.
HFM has developed over 500,000 active trading accounts. The firm has achieved several honors from the industry and the backing of key sponsors, such as Best Clients Funds Security Broker, Best Forex Provider, Top 100 Companies, etc.
Features
| 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 |
| HFM is a trusted broker that ensures client fund safety | There are only a few payment methods offered |
| Electronic payment gateways ensure quick deposits | HFM only accepts two deposit currencies |
| HFM does not keep client funds in its broker account | Conversion fees will apply to BWP deposits |
| The deposit is low and affordable, even for beginners | |
| There are flexible deposit methods offered |
12. Axiory
Overview
Axiory is an international CFD and FX broker that works with MetaTrader 4 and cTrader. The year 2021 witnessed the introduction of Axiory’s new social trading platform.
Overall Rating
- 4.8/5
Min Deposit
10 USD / 133 BWP
Regulators
IFSC, MFSC and FSC
Trading Desk
MetaTrader4, MetaTrader5, CopyTrade and cTrader
Crypto
No
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
To copy the trades of Master Traders, users with a Max account can download the free mobile app. With Axiory, you may get some of the lowest floating forex spreads of any major broker.
Purple Technology, a global leader in financial technology, supports the brand by providing innovative server management and optimization, web application development, and payment solutions to brokers throughout the globe.
Features
| Feature | Value |
| 💳 Minimum Deposit Requirement | $10 / 134 BWP |
| 📈 Platforms Available for Account Type | MetaTrader 4 |
| 📊 Average Spreads on Major Forex Pairs | None |
| 🚀 Maximum Leverage Ratio | 1:777 |
| 🔎 Commission Charges on Trades | From $1.5 per lot |
| 📈 Commissions on Stock CFDs | None |
| 💰 Account Base Currency Options | EUR or USD |
| 🔨 Negative Balance Protection Offered | No |
| 💸 Minimum Forex Trading Volume | 1 Lot |
| 💵 Islamic Account Conversion Offered? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Axiory is well-regulated and a member of the Financial Commission | Botswana traders do not have access to local deposit and withdrawal options |
| Axiory guarantees client fund safety and provides investor protection | Botswana Pula is not a supported base account currency |
| Traders have a choice between retail investor accounts and powerful trading platforms | Botswana cannot deposit funds in local currency |
| There is a range of tradable instruments offered | Crypto trading is not supported |
| There is an Islamic account offered and an unlimited demo account | There are holding commissions applied to the Islamic Account |
| There is unlimited access to AutoChartist | |
| Traders can use a range of trading strategies | |
| The broker accepts Botswana traders |
13. AvaTrade
Overview
AvaTrade is a regulated market maker that facilitates trade in various assets, such as foreign currency, commodities, cryptocurrencies, exchange-traded funds, options, bonds, and vanilla options.
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
AvaTrade delivers one of the most intuitive and forward-thinking trading environments for Botswanan traders, thanks to its support for all the industry’s top platforms, including MT4, MT5, and its award-winning app, AvaTradeGO.
Compared to other brokers, AvaTrade had the lowest trading costs associated with their account. The average spread for a Retail account in EUR/USD is 0.9 pips, and AvaTrade provides a fixed spread account.
Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 📊 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (BWP) | $100 / 1343 BWP |
| 💰 Trading Assets | Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🔎 Botswanan Pula-based Account? | No |
| 💳 BWP Deposits Allowed? | No |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
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
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