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best low minimum deposit brokers in botswana review

10 Best Low Minimum Deposit Brokers in Botswana

The 10 Best Low Minimum Deposit Forex Brokers in Botswana revealed. We tested and verified the best Low Minimum Deposit forex brokers for Botswanan Traders.

This is a complete list of Low Minimum deposits in Botswana.

In this in-depth guide you’ll learn:

  • What is a Low Minimum Deposit?
  • Who are the best low minimum deposit forex brokers for Botswanans?
  • Which NASDAQ Forex brokers offer a low minimum deposit?
  • How to Choose the Right Forex Broker in Botswana
  • Which brokers offer no minimum deposit?
  • Which brokers offer a signup bonus on their low minimum deposit. 

And lots more…

So if you’re ready to go “all in” with the best-tested low minimum deposit forex brokers for Botswanans…

Let’s dive right in

Updated : December 8, 2023

Best Low Minimum Deposit Brokers in Botswana

🏛️ Broker💰 Min Deposit👉 Open Account💵 Botswana Pula Deposits Allowed?✔️ Offers a Botswana Pula Account?
1. ExnessUSD 10 / 134 BWP👉 Open AccountYesNo
2. JustMarketsUSD 10 / 134 BWP👉 Open AccountNoYes
3. TD Ameritrade$0 / 0 BWP👉 Open AccountYesYes
4. RoboForexUSD 10 / 134 BWP👉 Open AccountYesYes
5. FXOpenUSD 1 / 13 BWP👉 Open AccountNoYes
6. Fidelity InvestmentsUSD 0 / 0 BWP👉 Open AccountNoNo
7. FBSUSD 5 / 96 BWP👉 Open AccountYesYes
8. SuperForex USD 1 / 13 BWP👉 Open AccountNoNo
9. InstaForexUSD 1 / 13 BWP👉 Open AccountNoNo
10. HFM$0 / 0 BWP👉 Open AccountYesYes

10 Best Forex Brokers in Botswana for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

tickmill

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

avatrade

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

What is a Low Minimum Deposit?

A minimum deposit or initial deposit is the minimum amount of money required to open an account with a financial institution, such as a bank or brokerage firm.

 

Higher minimum deposits are generally associated with accounts offering premium services, whereas products oriented toward a mainstream audience generally offer lower minimum deposits to attract new customers.

10 Best Low Minimum Deposit Brokers in Botswana

  1. ✔️ Exness – Overall, Best Low Minimum Deposit Broker
  2. ✔️ JustMarkets – Top STP Forex Broker in Botswana
  3. ✔️ TD Ameritrade – Best MetaTrader 4/MT4 Broker
  4. RoboForex – Top Sign-Up Bonus Forex Broker
  5. FXOpen – Best NDD Forex Broker in Botswana
  6. Fidelity Investments – Top Volatility 75/VIX75 Broker
  7. FBS – Best Nasdaq100 Forex Broker in Botswana
  8. SuperForex – Top Lowest Spread Forex Broker in Botswana
  9. InstaForex – Best Mobile Trading App
  10. HFM – Top ECN Forex Broker in Botswana

1. Exness

Exness Review Main Banner

 

Overview

Exness is a well-known worldwide broker that provides 5 distinct trading accounts, including one of the most cost-effective Cent Accounts on the market today.

Exness is a dependable broker to use for trading and has been granted permission to operate by a variety of authorities all over the world.

In addition, Exness offers protection against negative balances to all its customers, which means that traders cannot incur losses greater than the amount they initially deposited.

 

Overall Rating

Min Deposit

$10 / 134 BWP

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

 

Moreover, Exness undergoes routine inspections by Deloitte, which is widely regarded as one of the best auditing companies in the world.

The Cent Account is excellent for beginner Forex traders who want to learn without taking on too much risk since the minimum deposit is merely 10 USD / 134 BWP. Furthermore, micro-lots are unlocked, and spreads can be as low as 0.3 pips.

Market execution is available for all accounts, apart from the Pro Account, which has access to quick execution for all CFDs other than crypto. Furthermore, Botswanan Muslim traders can establish swap-free Islamic accounts for any trading account they want.

 

Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
⚖️ CBN Regulation?No
📊 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit $10 / 134 BWP
💰 Trading AssetsForex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks
🔎 Botswanan Pula-based Account?No
💳 BWP Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedNo

 

Exness

 

Pros and Cons

✔️ Pros❌ Cons
Exness is a reputable international broker authorized by several reputable market regulatorsThere is a limited selection of tradable instruments in only a few financial markets
The broker offers some of the tightest spreads across all types of accountsThere is a limited selection of funding options offered
There are several account types to choose from, each accommodating different types of traders
There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more.
Exness is ideal for any Botswanan beginner traders and institutional investors
There are solutions offered for any type of professional trader who needs advanced options
There is a powerful proprietary mobile app offered
Client fund safety and investor protection is guaranteed
Multilingual 24/7 customer support is offered
Instant withdrawal methods are available

 

2. JustMarkets

JustMarkets review

 

Overview

JustMarkets, with headquarters in Limassol, Cyprus, was founded in 2012 as a multi-asset CFD broker operating online, using STP and ECN technology. With JustMarkets, you can easily trade foreign currency pairs, stocks, commodities, indices, and cryptocurrencies all in one spot.

Except for BWP accounts, many offer several base currencies and a range of deposit and withdrawal options. Therefore, traders on JustMarkets can select from seven main account options to find a suitable one.

 

Overall Rating

Min Deposit

USD 10

Regulators

FSA, CySec

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

240

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Beginner traders can open a spread account to simplify trading costs as they need not worry about commission fees. In contrast, the commission account might be advantageous for seasoned traders who execute bigger transactions.

In addition, novice traders benefit from low initial investments, which suit most budgets and ensure a lower risk of loss. For example, just $10 is needed to create an account with three different financial institutions, but $100 is advised for the remaining four.

Regardless of your inactive state, your JustMarkets account will always be available. However, if a trading account is inactive for 90 days or more, JustMarkets might archive it.

 

Features

Account FeatureValue
📉 Minimum Deposit Requirement34 Botswanan Pula equivalent to $10
💻 Account Base CurrencyUSC
📊 Maximum leverage up to1:1000
💳 Commission chargesNone
📊 Swap-free option?Yes
📈 Average spreads from0.9 pips
📉 Minimum order size0.01 cent lot
➡️ Maximum order size1,000 cent lots
⬆️ Maximum orders100
📞 Margin Call40%
🛑 Stop-Out (%)20%
📱 Trade Execution MethodMarket Execution
✔️ Pricing FormatFifth Decimal Pricing
💻 Contract Size1 lot = 1,000 base currency units
✅ Trading Instruments Available• 37 Forex pairs
• 4 Metals
• 9 Indices
• 5 Cryptocurrency Pairs

 

JustMarkets

 

Pros and Cons

✔️ Pros❌ Cons
JustMarkets offers a huge range of deposit methods and withdrawal options including bank wire transfers, bank transfers, Skrill, Neteller, and moreThere is a limited choice of trading instruments
Demo trading and Islamic Swap-Free Accounts are offeredInactivity Fees may apply after following several days of dormancy
JustMarkets offers mobile trading through powerful mobile trading appsThe broker does not have regulation through a reputable and trusted regulatory body
JustMarkets offers competitive cryptocurrency spreads across crypto pairs including Bitcoin, Ethereum, and others
JustMarkets’s non-trading fees are reasonable
The broker offers a risk warning, training webinars, an array of articles and education for inexperienced traders
There is a wide choice between different types of accounts and excellent trading conditions
One-click trading is offered in addition to insights to help Botswanan traders make better trading decisions
Real-time market analysis is offered alongside analysis tools and several other additional tools
Client funds are kept in segregated bank accounts
There are several research and resources that can help traders make improved independent investment decisions
JustMarkets’s account-opening process is quick and easy
JustMarkets offers several innovative features including a range of services
There are several trading account currencies to choose from
There is no fee for withdrawals

 

3. TD Ameritrade

TD Ameritrade review

 

Overview

TD Ameritrade is a leading online broker due to its impressive features. Despite its reputation as an online broker, TD Ameritrade’s history extends back to the 1970s. Furthermore, the broker has been a pioneer in the brokerage industry for decades.

TD Ameritrade meets the demands of both beginner and seasoned investors, particularly those seeking a full-featured online broker with excellent education and research.

 

td ameritrade productcard 5c61ed44c9e77c000159c8f6 1536x304 1

Overall Rating

Min Deposit

$0

Regulators

SEC, FINRA, CFTC, MAS

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

The thinkorswim trading platform is almost unrivalled. Available on mobile and desktop platforms, thinkorswim offers customization, graphing, and analytical tools.

TD Ameritrade provides access to trade expertise and superior customer support to assist you quickly and properly answer any queries you might have. Overall, TD Ameritrade is a renowned one-stop shop for investors and cash managers.

Furthermore, TD Ameritrade provides a variety of education and managed account choices in addition to regular taxable accounts, IRAs, and Roth IRAs.

 

Features

FeatureInformation
⚖️ RegulationFINRA, CFTC, SEC, SFC
💳 Minimum deposit (BWP)$0 / 0 BWP
💵 Fees$2.25
📈 PromotionsNone
🥇 Overall Score5/5

 

TD Ameritrade

 

Pros and Cons

✔️ Pros❌ Cons
There are many different investment options availableA limited number of countries accepted
Strong systems that have a wide range of useful features and capabilitiesCFDs are not offered
TD Ameritrade offers Internet-based and mobile platforms for trading and investingThere are only a few funding and withdrawal options offered
Zero-dollar minimum trade commissions and cheap trading costsUSD is the only accepted base currency
Wide variety of innovative resources for in-depth market researchThe account-opening process is tedious and time-consuming
Tools for analysing and comparing various funds
The availability of a wealth of learning materials

 

4. RoboForex

Roboforex review Main Banner

 

Overview

RoboForex provides 5 different live trading account types – the Prime Account, The ECN Account, The R StockTrader Account, The ProCent Account, and the Islamic Swap-Free Account Option.  Additionally, a selection of Demo Accounts is also on offer.  RoboForex offers accounts in USD, EUR at a minimum deposit of $10 USD / 34 BWP.

 

Overall Rating

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

on RoboForex’s website

 

The minimum deposit amount required to register a live RoboForex trading account is $10 USD.  This minimum deposit is equivalent to 34 BWP at the current exchange rate between the US Dollar and Botswana at the time of writing. RoboForex offers a wide variety of deposit methods and applicants can simply select the option that is most comfortable to them.

 

Features

FeatureInformation
⚖️ RegulationIFSC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (BWP)Botswanan Pula $10/134 BWP
Average spread fromFloating from 1.3 pips
📈 Maximum Leverage1:2000
👥 Customer Support 24/7

 

RoboForex

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers more than 12,000 markets that can be tradedUS clients are not accepted
There are several flexible account types offeredThere are no fixed spread accounts
Trading education is offered to all traders
There are several powerful trading tools
The broker applies negative balance protection to all retail trading accounts

 

5. FXOpen

FxOpen review

 

Overview

Trading currencies, stocks, commodities, indices, cryptocurrencies, and more are all available on the FXOpen platform. The FXOpen trading platform is user-friendly and safe, and practice accounts and live ECN accounts are available.

Traders of all experience levels, from novices to veterans, are universal in their praise for FXOpen’s brokerage services. Expert advisers help new traders through the complex financial markets and daily swings.

 

FXOpen

Overall Rating

Min Deposit

USD 1 / 13 BWP

Regulators

ASIC

Trading Desk

No Trading Desk

Crypto

Yes

Total Pairs

4

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Auto-trading, mobile trading, crypto trading, social trading, copy-trading, and other options are available with FXOpen.

In addition, risk disclosure, foreign currency pairings, financial guidance, easy and secure payment methods, and a payment system are all provided to both new and established traders.

 

Features

FeatureInformation
📈 Range of MarketsForex, ETFs, Crypto, Indices, Commodities, Shares
⚖️ RegulationFCA, ASIC
💻 Account Types• ECN Account
• STP Account
• Micro Account
• Crypto Account
💵 Minimum Spread0.0 pips
💸 Minimum Deposit13 BWP ($1)
📱 Platforms SupportedMetaTrader 4
MetaTrader 5
TickTrader
Myfxbook AutoTrade
📉 Minimum Trade Volume0.01 lots
📈 Maximum Leverage1:500

 

FXOpen

 

Pros and Cons

✔️ Pros❌ Cons
FXOpen is known for its true ECN modelWithdrawal fees might apply
FXOpen is well-regulated and offers an unlimited demo accountNot all accounts have the same access to financial instruments
Negative balance protection is applied to trading accounts

 

6. Fidelity Investments

Fidelity Investments review

 

Overview

Regarding online brokerage platforms, Fidelity Investments is among the best because of the extensive resources it provides for investors. In addition, Fidelity is a fantastic option for seasoned traders and novice investors because of its extensive library of educational materials.

Fidelity Investments is among the greatest online brokers because of its unique features. Downloadable Active Trader Pro provides stock and options traders with access to Fidelity’s extensive screeners, third-party research resources, and portfolio analysis tools.

 

Overall Rating

Min Deposit

$o

Regulators

IFSC, CySEC

Trading Desk

Fidelity.com
Active Trader Pro

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Furthermore, Fidelity is a fantastic option for casual traders because of its substantial cost savings on order execution.

Fidelity’s Stocks by the Slice service enables you to acquire partial shares for as little as $0. In addition, you can invest in over 7,000 stocks and ETFs with the same low, flat fee. You could also reinvest dividends into more, smaller shares to get the most out of your capital.

 

Features

FeatureInformation
📈 Range of MarketsForex, ETFs, Crypto, Indices, Commodities, Shares
⚖️ RegulationFCA, ASIC
💻 Account TypesBrokerage Account, Cash Management Account, Brokerage and Cash Management, The Fidelity Account for Businesses, Fidelity Go, Fidelity Personalized Planning and Advice, Portfolio Advisory Services Accounts, Fidelity Tax-Managed US Equity Index Strategy, Fidelity Equity-Income Strategy, Fidelity International Equity Strategy, Fidelity Tax-Managed International Equity Index Strategy, Fidelity US Large-Cap Equity Strategy, Fidelity Core Bond Strategy, Fidelity Intermediate Municipal Strategy, Breckinridge Intermediate Municipal Strategy
💵 Minimum Spread0.0 pips
💸 Minimum Deposit$0 or an equivalent in 0 BWP
📱 Platforms SupportedMetaTrader 4
MetaTrader 5
TickTrader
Myfxbook AutoTrade
📉 Minimum Trade Volume0.01 lots
📈 Maximum Leverage1:500

 

Fidelity Investments

 

Pros and Cons

✔️ Pros❌ Cons
Fidelity Investments is well-regulated and has a good trust scoreMetaTrader platforms are not supported
Member of the FDIC and the Securities Investor Protection Corporation (SIPC)
There is no Forex, CFD, or crypto trading offered
There is a wide range of investment options offered across several financial marketsThere are limited funding options
There are several account types to choose from, each suiting different investors and tradersThe account opening process can be time-consuming
There are many advanced trading tools offered on the website, trading platform, and mobile appTo get the best account benefits, traders must make larger deposits
Powerful proprietary trading platform offeredManagement fees and a contract fee applied
Competitive trading conditions for cost-effective trading and investing
Offers advanced research options and some educational material

 

7. FBS

FBS-review

 

Overview

FBS is an online platform that facilitates trading in a vast array of assets. In addition, the FBS brokerage firm provides optimal leverage and margin call, so one does not need to have a large amount of cash to begin trading the finest forex pairs, commodities, and other assets.

More than 17 million traders from more than 150 countries are linked with the FBS transparent broker organization based in Cyprus.

 

Overall Rating

Min Deposit

USD 5 / 67 BWP

Regulators

IFSC, FSCA (South Africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

250

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Botswanans who have registered an account on the FBS trading platform are currently eligible for a variety of enticing bonuses and special deals.

The Level Up bonus offer is by far the most well-liked promotion that FBS has to offer. Furthermore, Botswanans must register a trading account and verify their details to be eligible for the Level Up bonus of USD 70.

 

Features

Account FeatureValue
💳 Minimum Deposit 67 Botswanan Pula equivalent to $5
📈 Average spreadFloating, from 1 pip
🔎 CommissionNone
📈 LeverageUp to 1:3000
📅 Maximum opening positions200
📊 Order volumeBetween 0.01 to 1,000 cent lots
📈 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
🚀 Tradable InstrumentsForex, precious metals, indices, energies, forex exotics, stocks
☪️ Swap-Free Islamic OptionYes

 

FBS

 

Pros and Cons

✔️ Pros❌ Cons
There is a very low minimum deposit requiredSeveral regions are restricted from service
FBS is an online broker with regulation through IFSC and the Cyprus Securities and Exchange CommissionThe spreads on some accounts are very high
There is a choice between investor accountsInactivity fees apply to dormant accounts
Traders have access to fast, flexible payment methodsThe demo account expires after 40 days
The trading conditions are favourable and competitiveWithdrawal fees and deposit fees are charged
There are demo accounts and Islamic AccountsThere is a limited selection of funding options and there are only two base account currencies
Customer service is available 24/7Currency conversion fees are charged on deposits made in currencies other than USD and EUR
The broker is reputable and has a high trust score
FBS is an official trading partner that offers a comprehensive affiliate program
There are several bonuses and promotions offered

 

8. SuperForex

SuperForex review

 

Overview

SuperForex was founded in 2013 to normalize the usage of foreign currency in daily life. The organization, which began in Belize but now has branches all over the globe, is a broker.

SuperForex offers its clients the MetaTrader 4 (MT4) trading platform, which may be utilized locally on desktop computers or online with any current web browser. Furthermore, useful video training is available to help you make the most of your time trading using MT4.

 

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

 

The terminal can be used on both Windows and macOS systems. However, it should be noted that the MetaTrader 5 (MT5) platform is still unavailable on SuperForex.

Furthermore, the spreads offered by the broker vary depending on your account, and they are competitive compared to other brokers.

Botswanans should note that ECN accounts are more competitive because they provide direct market execution and variable spreads from 0.0 pips EUR/USD.

In contrast, spreads on the EUR/USD pair are typically 3 pips for a basic STP account, 3.5 pips on the USD/CAD pair, and 6.5 pips on the GBP/JPY pair.

 

Features

FeatureInformation
⚖️ RegulationIFSC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (BWP)13 Botswanan Pula equivalent to $1
Average spread fromVariable spread
📈 Maximum Leverage1:1000
👥 Customer Support 24/5

 

SuperForex

 

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.

 

9. InstaForex

Instaforex-review

 

Overview

InstaForex gives you a solution from the world’s best developers, enabling you to execute trading assisted by the major counteragents offering direct market access.

InstaForex was founded in 2007, with its headquarters in Limassol, Cyprus. However, it now serves customers worldwide, and the number of traders using InstaForex surpasses 7 million, which is an astounding statistic.

 

Overall Rating

Min Deposit

USD 1

Regulators

CySEC, FSC

Trading Desk

MetaTrader 4
MetaTrader 5
MultiTerminal
WebTrader

Crypto

Yes

Total Pairs

100

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

InstaForex is an excellent Forex broker with a wide selection of instruments and innovative technology. The platform is user-friendly, and InstaForex offers a variety of deposit options.

One advantage is that traders can begin with any amount since the broker does not need a minimum deposit. In addition, comprehensive education and market analysis are also available on the InstaForex platform.

InstaForex’s trading conditions, on the other hand, vary according to the regulatory entity with whom you will trade according to your region, and fees for specific products could be higher than those offered by other brokers.

 

Features

FeatureInformation
⚖️ RegulationFSC, BVI, SIBA
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (BWP) Botswanan Pula ($1 / 13 BWP )
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:1000
👥 Customer Support24/7

 

InstaForex

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers commission-free tradingThere are restrictions on leverage for European Union clients
MetaTrader 4 and 5 are both offered, available across devicesUS clients are not accepted
The broker is well-regulated and offers competitive trading conditions
There is a choice between retail investor accounts, each suited to different types of traders
There is a wide range of tradable assets offered

 

10. HFM

HFM review

 

Overview

HFM, formerly known as HotForex, is a multi-asset Forex broker that provides Forex and Commodities trading. In addition, HFM provides CFD trading services on five different account and platform options, with average spreads of only EUR USD 0.1 and unlimited liquidity.

Furthermore, automated trading platforms allow traders to choose their preferred spreads and liquidity providers, enabling them to use any trading technique (including News trading).

 

Overall Rating

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

 

With other industry accolades and sponsorships, HFM has over 500,000 active client accounts and renowned titles such as Best Client Funds Security Broker, Best Forex Provider, and many others.

Traders of any skill level, from novices just getting their feet wet to seasoned pros with decades of experience, will appreciate the many account types and the freedom HFM provides in tailoring their trading to their unique goals.

 

Features

FeaturesInformation
⚖️ RegulationFSCA, 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 Time2 to 4 working days
💰 Instant Deposits/Withdrawals?Yes, deposits
💳 BWP-Denominated Account?No
📱 Minimum Deposit Amount$0 / 0 BWP

 

HFM

 

Pros and Cons

✔️ Pros❌ Cons
HFM is well-regulated and features registrations from several countries worldwide, which adds to its reputation and trustworthinessHFM’s spreads are wide on entry-level accounts
HFM’s overall reputation and reach are unparalleledHFM does not support a large array of deposit and withdrawal options
The HFM brand has won over 60 accolades in its field throughout the yearsBotswanans pay currency conversion fee as there is no BWP-denominated trading account
HFM’s demo accounts for MT4 and MT5 are unrestricted
Botswanan Muslim traders who prefer Islamic accounts can make the switch at any time
Botswanans can choose an account that suits their trading strategy and experience level the best
Traders have access to a plethora of learning materials and innovative trading platforms
The versatility of the trading platforms means that more people in Botswana can make use of them, even if they do not have previous trading experience
Botswanans pay an extremely low minimum deposit of 65 BWP, and the market circumstances are favourable for trading

 

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 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

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

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

Min Deposit

$10 / 134 BWP

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 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

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

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

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

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

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

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

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

on RoboForex’s website

 

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

 50 USD / 682 BWP 

Regulators

CYSEC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, Windsor Brokers is the best sign-up bonus broker in Botswana. Windsor Brokers is a well-regulated broker that offers Botswanans a welcome account funded with 30 USD in trading credit. With this account, Botswanans can explore the platform or risk-free test their strategies.

Conclusion

Online brokers typically require a minimum initial deposit to cover the costs of account opening and to ensure that traders have access to sufficient funds to initiate trades in their preferred market.

Brokers’ minimum required initial deposits range from thousands to as little as one dollar. However, while this is an attractive offer, Botswanans must remember that to start trading, they must cover margin requirements.

Furthermore, Botswanans must remember to use risk management strategies to minimize their losses and protect their capital, including using leverage carefully.

Frequently Asked Questions

Can I start trading with 1 USD / 13 BWP?

You can register an account with a minimum deposit of 1 USD. However, you might be unable to open trading positions with such a low investment amount. The reason is attributable to the fact that brokers have a margin requirement that must be paid.

Furthermore, even if you could start trading with 1 USD, it would mean that you apply large leverage amounts, which can be risky and lead to excessive loss.

 

Where can I start trading with 10 USD / 130 BWP?

Forex brokers such as Exness allow you to register a trading account for a minimum of 10 USD.

 

What is the minimum deposit for MetaTrader 4?

MetaTrader 4 does not have a set minimum deposit requirement. Instead, if the broker offers this platform, you pay your forex broker the minimum deposit to register an account that will give you access to MT4.

 

Is forex trading a get-rich-quick scheme?

Forex trading is legit and is not a scheme. However, fraudulent individuals, companies, and fake brokers run schemes to steal money from unsuspecting investors. Therefore, you should only deal with verified and well-regulated forex brokers.

 

Which forex broker in Botswana has the lowest minimum deposit?

Several forex brokers in Botswana have low minimum deposits from $1 and even 0 USD if the broker offers a no-deposit bonus. Brokers such as Exness, HFM, InstaForex, and others have extremely low minimum deposit requirements.

 

What is the minimum capital you need to start trading forex in Botswana?

The minimum capital needed to start trading forex in Botswana can vary based on several factors, including the chosen broker, trading strategy, and individual risk tolerance. Many brokers offer accounts with relatively low minimum deposits, ranging from around $50 to a few hundred dollars.

 

Who are the best low minimum deposit forex brokers for Botswanans?

  • Exness
  • HFM
  • JustMarkets
  • TD Ameritrade
  • RoboForex
  • FXOpen
  •  SuperForex
  • InstaForex

 

Which NASDAQ Forex brokers offer a low minimum deposit?

  • Exness
  • JustMarkets
  • RoboForex
  • FXOpen
  • FBS

 

Which brokers offer no minimum deposit?

  • TD Ameritrade
  •  HFM
  • Fidelity Investments

 

Which brokers offer a signup bonus on their low minimum deposit?

  • JustMarkets
  • RoboForex
  • FXOpen
  • Fidelity Investments
  • SuperForex
  • InstaForex

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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