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18 Best FSCA-Regulated Brokers in Botswana

The 18 Best FSCA-Regulated Forex Brokers for Botswanan revealed. We tested the best FSCA-Regulated brokers for Botswana Traders.

This is a complete guide to FSCA-Regulated brokers in Botswana.

In this in-depth guide you’ll learn:

  • What is a South African Financial Sector Regulation Act (FSCA)?
  • Which forex brokers offer the best trading platforms for Botswana traders?
  • Which trading platforms accept M-PESA in Botswana?
  • How to compare the best forex brokers against each other. 
  • Which FSCA-Regulated 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 trading platforms offer a mobile app on IOS and Android for Botswana Traders? 
  • Why is it important to trade with a licensed FSCA broker?


And lots more…

So if you’re ready to go “all in” with the best-tested SA FSCA-Regulated brokers…

Let’s dive right in…

Updated : November 17, 2022

18 Best FSCA-Regulated Brokers in Botswana

  1. Velocity Trade – Overall, Best FXCA-Regulated Broker in Botswana
  2. IG Markets – Top Volatility 75 / VIX 75 Broker
  3. Axi – Verified FSCA-Regulated Minimum Deposit Broke
  4. Exness – User-Friendly Forex Broker for Beginner Traders
  5. Quicktrade – Top FSCA-Regulated Islamic/Swap-Free Broker
  6. SuperForex – Best MetaTrader 5 / MT5 Broker in Kenya
  7. Tickmill – Top Nasdaq100/NAS100 Broker
  8. FXTM – Top CFD Broker in Botswana
  9. GT247 – Most Products on the MetaTrader 5 Platform
  10. EasyEquities – Most Inexpensive Investing Platform
  11. ThinkMarkets – Largest Pairings Regulated by the FSCA
  12. Globex360 – Best Markets Analysis and Research Tools
  13. Khwezi Trade – Top Customer Support in Botswana
  14. JP Markets – Best Mobile Trading App
  15. Trade Nation – Most Variety of Currencies in Botswana
  16. Scope Markets – Top Trading Platforms
  17. IFX Brokers – Best Tier Two Broker in Botswana
  18. RCG Markets – Best Experienced Broker that is FSCA-Regulated

What is the purpose and responsibility of the FSCA?

👉 In South Africa, the Financial Services Board (FSB) was succeeded by the Financial Sector Conduct Authority (FSCA), a market conduct regulator for financial institutions.

 

👉 In April 2018, after a lengthy reorganization process, the Financial Services Board (FSB) was renamed the Financial Sector Conduct Authority (FSCA).

 

👉 A very advanced and all-encompassing consumer protection framework is effectively created by the FSCA’s power over any firm or organization in South Africa that sells financial products or services.

 

👉 The Financial Industry Conduct Authority (FSCA) has modelled its approach after the worldwide “Twin Peaks” model of financial regulation. However, it has tailored it to South Africa’s financial sector specifics.

 

👉 The goal is to create and maintain a thriving and expanding financial services industry that is accessible to all citizens of South Africa and treats its clients fairly.

 

👉 Furthermore, the FSCA has developed a comprehensive plan for educating consumers to protect their financial well-being better.

 

👉 Supporting financial inclusion and expanding access to the financial sector for more South Africans in an ethical and empowering manner is another top FSCA strategic focus, and consumer empowerment is essential to this end.

 

👉 The following long-term goals represent the FSCA’s commitment to its mission and fulfil its mandate:

➡️ Maintain a secure financial system.

➡️ Prompt changes in the banking system to broaden participation.

➡️ Foster a regulatory environment that ensures clients of financial institutions are treated fairly.

➡️ Give them the tools they need to understand their finances.

➡️ Encourage financial market innovation to preserve market efficiency and honesty.

1. Velocity Trade

Velocity Trade

Overview

👉 As a global electronic trading platform, Velocity Trade Limited serves traders from all over the globe. Its inception dates to 2007, and Velocity Trade Limited is an Australian company headquartered in Australia.

 

👉 Velocity Trade’s offices are in four countries (Canada, New Zealand, South Africa, and the United Kingdom), making it a worldwide broker. For over 15 years, Velocity Trade has provided its clients with unrivalled foreign exchange market access.

 

👉 In addition, Velocity trade facilitates trades in stock shares on its customers’ behalf. It aids its clients by providing various trading tools and strategies applicable across various marketplaces.

 

Features

FeatureInformation
⚖️ RegulationASX, TMX, FCA, IIROC, AFM, FSCA, ASIC
✅ Regulated in Botswana?No
💵 Minimum Deposit380 BWP / $30
📈 Average spread fromVariable
📊 Commissions fromVariable
💸 Account Types• Live Trading Account
📱 Trading Platforms• Velocity Trade Platform
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Equities
• Commodities
• Futures
• Options
• CFDs

 

Pros and Cons

✔️ Pros❌ Cons
Velocity Trade is extremely well-regulated and offers global trading solutions.Velocity Trade caters specifically to institutional clients.
There is a vast range of tradable instruments.There are no bonuses, and the trading conditions are unavailable on the website.
Traders can expect comprehensive solutions.
Velocity Trade has high asset liquidity, which extends to margin trading and instruments.

2. IG Markets

igindex logo sq

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

Overview

👉 Founded in 1974, IG Group (IG) now serves a global clientele of more than 178,000. Traders of Contracts for Difference (CFDs) from all around the world are welcome at IG. IG generates revenue via the spread when its clients “cross” the spread while placing trades.

 

👉 Every time you buy or sell a share through a contract for difference (CFD), you will be charged a commission on top of the market spread. Beginning with a proprietary, user-friendly web-based offering, IG provides access to a wide range of platform options and API interfaces.

 

Features

FeatureInformation
⚖️ RegulationFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA
⚖️ CBN Regulation?No
📊 Trading AccountsIG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX)
📊 Trading PlatformMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💰 Minimum Deposit (₦)104,000 Botswanan Naira equivalent to $250
💰 Trading AssetsForex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options
🔎 Botswanan Naira-based Account?No
💳 NGN Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?No
📈 Minimum spread0.1 pips (DMA) on EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Offers a significant range of financial instruments, including Botswanan-specific trading instrumentsHigh minimum deposit charged
There are several powerful trading platforms offeredInactivity fees apply
There are competitive trading conditions that include low spreads, low commissions, and reliable trade execution
Traders can get free trading signals
There is a comprehensive IG Academy offered with dedicated educational resources
Convenient funding options provided along with free deposits and withdrawals
FIX API Direct Market Access trading is offered
There are Swap-Free Accounts offered for Islamic traders

3. Axi

Overall Rating

Min Deposit

USD 0 

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

Overview

👉 Axi, an Australian broker with a sterling reputation, is MT4-only but offers three low-cost trading accounts and some of the greatest trading tools in the business.

 

👉 AutoChartist, MyFXBook, and PsyQuation are a few of the strong technical analysis tools that Axi’s traders have free access to, even though MT4 is the only available platform.

 

👉 Furthermore, traders of all skill levels, from seasoned pros to newcomers, may benefit from these tools.

 

Features

FeaturesInformation
⚖️ RegulationASIC, SVG FSA, FCA, FMA, DFSA
💸 Minimum Withdrawal TimeInstant
📈 Maximum Withdrawal TimeBetween 1 to 3 Business Days
💰 Instant Deposits/Withdrawals?Yes
💳 BWP-Denominated Account?No
📱 Minimum Deposit Amount0 BWP ($0)

 

Pros and Cons

✔️ Pros❌ Cons
Axi is well-regulated around the globe by top market regulators, instilling trustCurrency conversion fees will apply to all BWP deposits and withdrawals
Axi offers flexible payment methods for both deposits and withdrawalsDeposit and withdrawal fees could apply if the terms are not fulfilled
Botswanans can expect access to several advanced trading tools such as VPS, trading signals, and moreMetaTrader 4 is the only trading platform offered by Axi
There is an Islamic account conversion option offeredAxi does not offer a BWP-denominated account
There is a free demo account offered via MT4
Axi provides commission-free options to Botswanans
There are competitively low spreads and commissions charged
There is a dedicated trading academy for beginners

4. 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

👉 Botswanans have another top-tier option in Exness, a broker licensed by the Financial Sector Conduct Authority (FSCA) as a Financial Services Provider (FSP).

 

👉 Exness is a major foreign exchange (FX) broker in Botswana and throughout the world and allows traders to open accounts denominated in many currencies. In addition, Botswanans can easily make deposits and withdrawals using local online banking systems.

 

👉 Exness’ forex trading spreads are comparable with those of other forex and CFD brokers, albeit they vary based on the products traded.

 

👉 In addition to having no costs associated with deposits, withdrawals, or inactivity, this broker also provides one of the highest tradings leverages in the country.

 

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

5. Quicktrade

Quicktrade

Overview

👉 Since its inception in 2014, QuickTrade, a Market Maker broker in South Africa, has provided investors with access to the international financial markets through the robust and dependable MetaTrader 5 trading platform.

 

👉 More than 30 currency pairings, ETFs, equities, and CFDs are available on QuickTrade. With QuickTrade’s single live trading account and its many useful features, traders may better navigate the dynamic and volatile markets and achieve their trading goals.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit0 BWP / $0
📈 Average spread from1.2 pips
📊 Commissions from0.03 USD per share
💸 Account Types• Standard Account
📱 Trading Platforms• MetaTrader 5
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Indices
• Commodities
• Stocks

 

Pros and Cons

✔️ Pros❌ Cons
Quicktrade is a well-regulated broker that offers comprehensive trading solutions.There is a limited choice between trading accounts.
Botswanans can access several markets using MetaTrader 5 on mobile, web, and desktop.ZAR is the only accepted base currency. Therefore, BWP deposits and withdrawals will face currency conversion fees.
Traders can expect a fair, transparent, and safe trading environment with Quicktrade.Negative balance protection is not applied to retail trading accounts.
There is a limited range of markets offered.

6. SuperForex

Overall Rating

Min Deposit

USD 1 / 13 BWP

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

300

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 SuperForex is a dependable broker that fulfils all its clients’ trading needs in every way possible. Thanks to the availability of hundreds of various assets and the simplicity of the trading process, there is a platform and set of trading instruments accessible that can fulfil the demands of each type of trader.

 

👉 Traders who open an account with SuperForex may select from various account types, giving them the flexibility to choose the one that best meets their requirements in terms of the experience required, the amount of cash to spend, and the trading style they want.

 

👉 The broker can satisfy customers from various countries with various payment requirements by offering a comprehensive selection of effective, speedy, and straightforward payment solutions.

 

Features

FeaturesInformation
⚖️ RegulationNone that could be verified
💸 Minimum Withdrawal TimeInstant
📈 Maximum Withdrawal Time2 to 4 working days
💰 Instant Deposits/Withdrawals?Yes, deposits
💳 BWP-Denominated Account?No
📱 Minimum Deposit Amount13 BWP ($1)

 

Pros and Cons

✔️ Pros❌ Cons
At SuperForex, eleven retail accounts are offered, all of which are tailored to the unique needs of individual traders.SuperForex is not regulated.
In addition to speedy, trustworthy transaction execution and cheap spreads, SuperForex has commission-free options.There is no other platform other than SuperForex and MT4.
Muslims have access to Islamic trading accounts with no monthly maintenance fees.SuperForex does not offer a BWP-denominated account.
Botswanans can quickly and easily deposit and withdraw monies from their accounts.

7. 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

👉 Tickmill was established in 2015 and developed by a group of seasoned global market traders who deeply understand what it takes for traders to succeed. In addition, the liquidity of Tickmill comes from the world’s finest financial institutions.

 

👉 The liquidity pool comprises all this cash that has been amassed. Your order will be executed at the best available price from the liquidity pool.

 

👉 Tickmill Group of Companies owns and operates Tickmill Ltd., which is regulated and authorized in South Africa by the FSCA.

 

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

8. 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

👉 Trading the markets, such as CFDs on forex, equities, cryptocurrencies, and commodities, have never been easier than with FXTM (Forex Time), which began in 2011. FXTM’s mission is to help traders become more proficient in the market to maximize the return on their capital.

 

👉 ForexTime (FXTM) caters to a wide variety of traders by providing many account options and a range of leverage.

 

👉 In addition, FXTM has several reputable licenses worldwide, demonstrating the company’s dedication to regulation and transparency in the forex market.

 

👉 Brokers must follow the law so that their business is conducted fairly and honestly for the benefit of all parties involved.

 

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

9. GT247

GT247

Overview

👉 The GT247 internet broker is based in Johannesburg, South Africa. As a forex and CFD broker, GT247 offers trading on more than 250 products using the robust and widely used MetaTrader 5 platform.

 

👉 The main company, Purple Group, Ltd., is traded on the Johannesburg Stock Exchange (JSE) under the ticker code “JSE: PPE,” and GT247 has been in business since 1998 as one of its subsidiaries.

 

👉 There is a combined 100+ years of expertise at the trading desk, allowing them to provide traders with some of the best prices and terms available.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit0 BWP / $0
📈 Average spread from1 pip
📊 Commissions fromNone
💸 Account Types• ZAR Account
• USD Account
📱 Trading Platforms• MetaTrader 5
✔️ No-Deposit BonusNo
💻 Range of Markets• Equities
• Commodities
• Cryptocurrencies
• Forex
• Indices

 

Pros and Cons

✔️ Pros❌ Cons
GT247 offers MetaTrader 5 through which trades can be executed.GT247 has limited account funding options.
Botswanans can trade more than 250 financial instruments.There is a limited choice between account types.
GT247 is well-regulated by the FSCA.There are restrictions on leverage.
There is no BWP-denominated account.

10. EasyEquities

EasyEquities

Overview

👉 EasyEquities is a Johannesburg-based company that operates as a wholly owned subsidiary of Purple Group Limited, listed on the Johannesburg Stock Exchange.

 

👉 Formed in 2014, the company’s stated mission is to provide all traders with access to an inexpensive and straightforward investing platform.

 

👉 Trading in tax-free savings accounts, shares, exchange-traded funds (ETFs), and other investment vehicles is straightforward and effortless on EasyEquities.

 

👉 South Africa’s Financial Sector Conduct Authority (FSCA) has issued trading license number 22588 to EasyEquities, making the business legitimate. EasyEquities can provide its services in the financial sector since First World Trader (Pty) Ltd is a registered FSCA provider.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit130 BWP / $10
📈 Average spread fromFixed
📊 Commissions from0.1%
💸 Account Types• ZAR Account
• AUD Account
• USD Account
• GBP Account
• EUR Account
📱 Trading Platforms• EasyEquities Platform
✔️ No-Deposit BonusNo
💻 Range of Markets• Stocks
• ETFs
• ETNs
• IPOs
• Mutual Funds

 

Pros and Cons

✔️ Pros❌ Cons
Botswanans can register free demo accounts with EasyEquities denominated in USD or ZAR.Forex and cryptocurrencies cannot be traded with EasyEquities.
There are low commission charges.There are limited communication channels.
There is no minimum deposit requirement, and Botswanans can invest any amount.
Fractional shares are offered.

11. ThinkMarkets

ThinkMarkets

Overview

👉 Even though ThinkMarkets’ trading charges are higher than usual on its entry-level account, the broker is popular among experienced traders because of its wide selection of tradable assets and its comprehensive suite of trading tools.

 

👉 Forex pairings, indices, commodities, 3500+ share CFDs, and 20+ cryptocurrency pairs are just some of the tradable assets offered by ThinkMarkets.

 

👉 ThinkMarkets provides VPS hosting, along with support for MT4, MT5, and their proprietary platform, ThinkTrader, and some of the greatest trading tools in the business, such as Trading Central and Zulutrade.

 

👉 Trading with ThinkMarkets is risk-free for Botswanans. Local oversight comes from the Financial Sector Conduct Authority.

 

👉 Furthermore, ThinkMarkets is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) of the United Kingdom.

 

Features

FeatureInformation
⚖️ RegulationASIC, FCA, FSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit0 BWP / $0
📈 Average spread from0.0 pips
📊 Commissions from3.5 USD per side
💸 Account Types• Standard Account
• ThinkZero Account
📱 Trading Platforms• MetaTrader 4
• Metatrader 5
• ThinkTrader
• ZuluTrade
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Share CFDs
• CFDs
• Indices
• Precious Metals
• Commodities
• Cryptocurrencies

 

Pros and Cons

✔️ Pros❌ Cons
There is no set minimum deposit when Botswanans trade with ThinkMarkets.There is limited market analysis on ThinkMarkets.
ThinkMarkets is well-regulated and offers robust trading platforms.ThinkMarkets does not offer a BWP-denominated account.
There is a range of financial instruments that can be traded through ThinkMarkets.

12. Globex360

Globex360

Overview

👉 Globex360, a broker based in South Africa and authorized by the Financial Sector Conduct Authority (FSCA), provides access to fewer assets than competing brokers.

 

👉 Globex360 was established in 2017 and has been under regulation by the FSCA since 2019, which means that Globex360 is not as battle-tested as other brokers in the industry.

 

👉 Furthermore, client funds are held in a segregated account, as required by the FSCA. However, there is no negative balance protection, so traders risk losing more than they initially invested.

 

👉 There are three different trading accounts available on Globex360, each with its own set of trading costs. In addition, both the MT4 and MT5 versions of the MetaTrader trading platform are compatible with Globex360.

 

👉 The ability to easily perform market research and analysis, place and close trades, and employ automated trading software from a third party is made possible by these platforms.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit130 BWP / $100
📈 Average spread from1.2 pips
📊 Commissions from8 USD per lot
💸 Account Types• Standard Account
• Expert Account
📱 Trading Platforms• MetaTrader 4
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Commodities
• Equities
• Indices

 

Pros and Cons

✔️ Pros❌ Cons
The account opening process is quick and effortless.There is a limited demo account offered.
Globex360 is well-regulated and keeps all client funds in segregated accounts.The trading and non-trading fees are not transparent.
Traders can use the MAM service, copy trading, and more.Customer support is lacking.
Negative balance protection is not offered.

13. Khwezi Trade

Khwezi Trade

Overview

👉 Khwezi Trade was established in 2013 and is an FSCA-regulated local broker with low-deposit ZAR accounts and a reputation for putting its clients’ needs first. Botswanan traders needing an MT4 broker with dedicated service might choose Khwezi Trade.

 

👉 Khwezi Trade is a reputable broker in Cape Town, South Africa. Khwezi Financial Services is a corporation’s subsidiary governed by the Financial Sector Conduct Authority of South Africa.

 

👉 Moreover, Khwezi Trade was the second broker in South Africa to obtain its ODP license, which it did just recently.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit640 BWP / $50
📈 Average spread from0.4 pips
📊 Commissions fromNone, only the spread is charged
💸 Account Types• ZAR One Account
• USD One Account
📱 Trading Platforms• MetaTrader 5
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Commodities
• Indices

 

Pros and Cons

✔️ Pros❌ Cons
Khwezi Trade is well-regulated and offers fast and free withdrawals.Khwezi Trade is only regulated by the Tier-2 FSCA and has no other Tier-1 regulation.
Khwezi Trade offers great customer support.There is no Islamic Account offered to Muslim traders.
The spreads are wide, and there is a high minimum deposit requirement.

14. JP Markets

JP Markets

Overview

👉 JP Markets was established in 2016 and is based in South Africa, where the Financial Sector Conduct Authority (FSCA) supervises it. The MT4 platform and the JP Markets app for iOS and Android both have support from JP Markets.

 

👉 Using the broker’s mobile app, you can access your JP Markets account from anywhere. In addition, a user’s mobile dashboard can serve as a portal to various services, including opening real-world accounts, transferring funds, and perusing informative materials.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit2,100 BWP / $170
📈 Average spread from2 pips
📊 Commissions from10 USD per lot
💸 Account Types• STP Account
• ECN Account
• VIP Account
📱 Trading Platforms• MetaTrader 4
• JP Markets app
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Indices
• Commodities
• Crypto
• Metals
• Energies
• CFDs

 

Pros and Cons

✔️ Pros❌ Cons
JP Markets is FSCA-regulated and does not charge any deposit fees.Traders may not use hedging or scalping when they trade.
Traders can trade with the powerful MT4 platform or JP Markets’ app.MT5 is not offered.
There is some education offered.

15. Trade Nation

Overall Rating

Min Deposit

USD 0

Regulators

FSCA, SCB

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, FCA, ASIC, and SCB. Trade Nation, formerly Core Spreads, is now a trusted choice for many Botswanan investors.

 

👉 Trading accounts can be opened in several currencies, and traders can access MT4. Unlike its competitors, Trade Nation uses non-traditional sources of information to educate its customers and help them make trading decisions.

 

👉 Trade Nation’s exclusive news aggregation platform makes it simple to zero in on the market developments most relevant to your trading strategies.

 

Features

FeatureInformation
⚖️ RegulationFSCA
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (NGN)USD 0
Average spread fromVaries
📈 Maximum Leverage1:200
👥 Customer Support24/5

 

Pros and Cons

✔️ Pros❌ Cons
Trade Nation does not charge a minimum deposit, offering Botswanan traders with flexibilityThere is a limited selection of funding options
The broker offers transparent fixed financial spread trading across several asset classesThe spread costs are not the lowest in the industry
There is a powerful desktop platform, innovative mobile trading app, and web-based trading platformThere are leverage restrictions on the UK and Australian clients
There is commission-free trading offeredUnited States clients are not accepted
There is a wide selection of educational content and beginner guides as part of an all-inclusive education material packageInactivity account fees may apply
There is a dedicated customer service team offered
There is an active business community offered along with a dedicated affiliate program
Trade Nation offers international stability through a well-established regulatory framework
There is no deposit fee or withdrawal fee charged on deposit or withdrawal methods
There are several base currencies to choose from when registering a retail investor account

16. Scope Markets

Overall Rating

Min Deposit

1 328 BWP / $100

Regulators

IFSC, FSCA, CMA, CySEC

Trading Desk

MT4, MT5

Crypto

No

Total Pairs

70+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 When you open an account with Scope Markets EU, you will have access to online trading services through the robust and feature-rich MetaTrader 5 (MT5) platforms available on desktop, web, and mobile devices.

 

👉 Scope Markets is a well-known broker in the financial sector that aspires to provide all its customers access to state-of-the-art trading platforms.

 

👉 Trading mostly in Forex and CFDs, their management team has been in the business for over 20 years, making connections and learning what it takes to be successful to provide traders of all skill levels with the best possible trading services.

 

Features

FeaturesInformation
⚖️ RegulationIFSC, FSCA, CMA, CySEC
💸 Minimum Withdrawal TimeUp to 48 Hours
📈 Maximum Withdrawal TimeUp to 8 working days
💰 Instant Deposits/Withdrawals?No
💳 BWP-Denominated Account?No, only USD, GBP, or EUR
📱 Minimum Deposit Amount1,300 BWP ($100)

 

Pros and Cons

✔️ Pros❌ Cons
There is a decent range of tradable instruments offered across financial markets.There are no managed accounts.
The trading conditions are favourable and involve low spreads.There is a limited range of additional trading tools offered.
Scope Markets offers 24/5 customer support.FIX API is not supported.
There are a few helpful calculators offered.
There is an Islamic account option for Muslim traders.
Commission-free trading is made available.

17. IFX Brokers

IFX Brokers

Overview

👉 With a range of account options, support for MT4 and MT5 trading platforms, and a large selection of Forex pairings, IFX Brokers has quickly been a favourite among many traders since its 2018 founding.

 

👉 IFX Brokers is a tier 2 broker authorized by the South African Financial Sector Conduct Authority (FSCA), as opposed to brokers that several regulators regulate from around the globe.

 

👉 South Africa’s Financial Sector Conduct Authority (FSCA) is not the most stringent regulator, but it is working to become such.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit130 BWP / $10
📈 Average spread from0.5 pips
📊 Commissions from6 USD per lot
💸 Account Types• Cent Account
• Standard Account
• Premium Account
• VIP Account
• Islamic Account
📱 Trading Platforms• MetaTrader 4
• MetaTrader 5
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Commodities
• Cryptocurrencies
• Indices

 

Pros and Cons

✔️ Pros❌ Cons
IFX Brokers is well-regulated by the FSCA.IFX Brokers has limited market analysis.
There is a decent selection between trading accounts offered.There are limited educational materials offered.
There is a low minimum deposit requirement.The spreads charged are wider than that of other brokers.
Botswanans can register several commission-free accounts with IFX Brokers.

18. RCG Markets

RCG Markets

Overview

👉 Established in 2018, RCG Markets (Pty) Ltd functions as a financial services intermediary. RCG Markets gives individuals, professional money managers, and corporations direct market access for executing transactions in various CFDs and FX.

 

👉 The management team of RCG Markets comprises top professionals in their field with over 35 years of experience.

 

👉 With RCG Markets, traders can adjust their leverage to suit their needs and take full command of all trading activities.

 

Features

FeatureInformation
⚖️ RegulationFSCA
✅ Regulated in Botswana?No
💵 Minimum Deposit37 BWP / $3
📈 Average spread from0.0 pips
📊 Commissions from7 USD
💸 Account Types• Classic Account
• Raw Account
• ECN Account
📱 Trading Platforms• MetaTrader 4
✔️ No-Deposit BonusNo
💻 Range of Markets• Forex
• Shares
• Metals
• Energies
• Indices

 

Pros and Cons

✔️ Pros❌ Cons
RCG Markets is well-regulated and offers the popular MT4.RCG Markets does not have any Tier-1 regulation.
Spreads with RCG Markets start from 0.0 pips, and commission-free options are offered.There is only one trading platform offered.

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

igindex logo sq

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

👉 Botswanan traders can expect access to global markets through hundreds of international brokers who offer CFD trading to local traders. However, there are no CFD brokers regulated in Botswana.

 

👉 Regardless, some reputable FSCA-regulated brokers accept Botswanan traders, and these are the best ones.

FAQ

Is FSCA a trusted market regulator?

The FSCA is a reputable market regulator classified as a Tier-2 entity.

 

Who regulates the forex market in Botswana?

The Bank of Botswana regulates the foreign exchange of Botswanan Pula in the country.

 

How can I check a broker’s FSCA regulation?

You can search for the broker’s FSP number on the FSCA’s register of OTC Derivatives Providers.

 

What is an ODP license?

The license for an ODP, or OTC Derivative Product, is a new type of product authorization. Providers of CFDs, options, and other derivative financial instruments.

Furthermore, an ODP license authorizes FSPs to market derivative products to and enter contracts with citizens of South Africa.

 

Who needs to register with the FSCA?

Every company that offers financial services or products in South Africa must register as a Financial Services Provider (FSP).

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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