Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

CM Trading minimum deposit review

9 Best NDD Forex Brokers in Botswana

The 9 Best NDD Forex Brokers for Botswana Traders were revealed. We tested and verified the best NDD Forex Brokers for Botswana Traders.

This is a complete list of forex brokers with NDD Forex Brokers in Botswana.

In this in-depth guide you’ll learn:

  • What are the No Dealing Desk (NDD) brokers? 
  • Why traders in Botswana should sign up with an NDD broker?
  • Who is the best forex broker with a Botswana Pula trading account
  • Which NDD brokers have local offices in Botswana
  • Which is the #1 Best low bandwidth trading app for Botswanans
  • How to choose a forex broker – Compare them side by side by minimum deposit, Pula-based accounts, and much more.
  • Which brokers offer a low minimum deposit of $5 (64 BWP) to Botswanan Traders?
  • Which traders offer a sign-up bonus for first-time traders?

 

And lots more…

So if you’re ready to go “all in” with the best-tested NDD forex brokers for Botswana traders

Let’s dive right in…

Updated : December 15, 2022

Best NDD Forex Brokers in Botswana

🏛️ Broker💰 NDD Forex Broker?💵 Botswana Pula Deposits Allowed?✔️ Offers a Botswana Pula Account?👉 Open Account
1. AlpariYesYesNo👉 Open Account
2. Markets.comYesNoNo👉 Open Account
3. IC MarketsYesYesYes👉 Open Account
4. ExnessYesYesYes👉 Open Account
5. PepperstoneYesYesYes👉 Open Account
6. FP MarketsYesNoNo👉 Open Account
7. Capital.comYesNoNo👉 Open Account
8. HFM YesYesYes👉 Open Account
9. FXTMYesNoNo👉 Open Account

9 Best NDD Forex Brokers in Botswana

  1. Alpari – Overall, Best NDD Forex Broker in Botswana
  2. Markets.com – Top STP Forex Broker 
  3. IC Markets – Verified Volatility 75/VIX 75 Forex Brokers 
  4. Exness – Bet Nasdaq 100 Forex Broker in Botswana
  5. Pepperstone – Top Low Spread Forex Broker
  6. FP Markets – Best Mobile Trading App in Botswana
  7. Capital.com – Top Islamic Swap-Free Forex Broker
  8. HFM – Best ECN Forex Broker in Botswana
  9. FXTM – Top Low Minimum Deposit Broker

What is NDD?

👉 A foreign exchange broker with a “no dealing desk” (NDD) offers traders direct, unrestricted access to the interbank market exchange rate.

 

👉 NDD brokers provide what is known as Straight-Through Processing (STP) execution of forex deals, in contrast to Dealing Desk or market-making brokers who publish rates and prices comparable to, but different from, the interbank market rates.

 

👉 Those that employ this kind of Forex trading have a direct line to the liquidity providers in the market. When using an NDD, traders are not restricted to a single liquidity provider. However, they can access several to obtain the best possible bid and ask prices.

 

👉 This strategy gives an investor access to rates that can be executed instantaneously. For this to function, they can resort to ECN (electronic communication network) techniques.

 

👉 Moreover, No Dealing Desk Brokers might be compared to engineers who specialize in constructing connections between two parties. When two market players execute opposing deals, they find each other and form a bridge.

 

👉 In addition, with an NDD broker, the price you see on your forex trading platform at the time of clicking is the price at which your position will be executed since the prices are live quotations from worldwide banks.

1. Alpari

Overall Rating

Min Deposit

USD 100

Regulators

FSC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Alpari is one of the leading Forex brokers that has gained expertise over years of operation. It was created in 1998 by three Russian partners who began with nothing, overcame all difficulties and crises, and grew into a worldwide trading organization.

 

👉 Currently, Alpari provides a vast array of high-quality services for contemporary online trading on the foreign exchange currency market to over a million customers in 150 countries via its worldwide network of offices.

 

👉 Alpari provides two forms of execution, conventional and over an ECN connection; thus, spread costs will vary according to the selected method, beginning at zero pips.

 

Features

FeatureInformation
⚖️ RegulationFinancial Services Commission Mauritius (FSC)
⚖️ CBN Regulation?No
📊 Trading AccountsForex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Alpari Trading App
💰 Minimum Deposit (₦)1,000 Botswanan Naira or 5 EUR, USD, or GBP
💰 Trading AssetsForex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices
🔎 Botswanan Naira-based Account?Yes
💳 NGN Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.4 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated and award-winning CFD brokerFixed spreads are not offered
Offers forex trading signals from AutoChartist and automatic tradingNot regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission, or any other popular market regulators
MetaTrader 4 and MetaTrader 5 are supported across devicesThere is a limited selection of trading instruments, educational tools, and research
News is streamed from FxWireProThere are restrictions on several jurisdictions
A dedicated customer support team offers multilingual customer support
Offers unique solutions to both beginner and experienced traders
There are four retail investor accounts to choose from, demo accounts, and Islamic accounts
There are several convenient funding options to choose from and deposit fees are not charged

2. Markets.com

Overall Rating

Min Deposit

100 USD /1 232 BWP

Regulators

CySEC, FSCA, ASIC, FCA, FSC

Trading Desk

MetaTrader 4, MetaTrader 5 Markets.com,  proprietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Markets.com is a worldwide brokerage organization with international customers. It is one of the major suppliers of Forex and CFDs, providing over 2,200 trading products.

 

👉 Markets.com is a Forex and CFD broker that provides access to the most prominent markets, such as CFD on Stocks, ETFs, Forex, Cryptocurrency, and more. In addition, the broker offers customers access to premium liquidity and sophisticated transaction execution.

 

👉 When trading on the Markets.com trading platform, all trading fees are included in the floating spread, which is extremely competitive compared to other brokers’ spreads.

 

👉 Furthermore, Botswanans will get zero commission for the first three months of share trading, after which they will be charged a minimal fee.

 

Features

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

 

Pros and Cons

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

3. IC Markets

Overall Rating

Min Deposit

USD 200

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 The ECN-style broker with NDD execution offers the lowest variable spreads of any competitor. In addition, IC Markets uses an ECN business strategy to avoid potential conflicts of interest with its customers. Benefits of IC Markets’ ECN pricing methodology include:

➡️ Raw spreads from interbank rates (95% of the time, the spread between EUR/USD is 0.0 pips).

➡️ Lightning-fast ECN Trading (under 40ms).

➡️ Superior trading platforms, including cTrader, the industry’s first real electronic communication network (ECN) forex platform.

 

👉 The average latency of IC Markets’ MetaTrader 4 and 5 (MT4/5) trading servers is less than a millisecond.

 

👉 The main Virtual Private Server (VPS) providers used by IC Markets provide price data through dedicated lines to neighbouring data centers, allowing for lightning-fast, highly efficient direct access to the Forex market.

 

👉 With up to 25 price sources sending Executable Streaming Prices (ESP) to IC Markets, the broker has access to a wide range of bids reflective of market conditions.

 

👉 With its NDD methodology, which does not include any manipulation of Interbank market rates, these prices are subsequently made available directly to Raw Spread Account customers. Additionally, IC Markets will never re-quote your order.

 

Features

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

 

Pros and Cons

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

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

👉 Exness is present in several countries, and the appropriate local authorities always govern its offices. Consequently, Exness can provide financial goods or services as part of its activities through the international trading proposition.

 

👉 The Standard Cent Account is ideal for modest traders. In contrast, the Standard Account and Professional ECN Account provide raw spread offerings and commission fees per transaction. Exness’ spreads are based on changeable spreads determined by the account type you choose.

 

👉 The Standard and Standard Cent Account Spreads begin at 0.3 pips and have no volume-based commissions; thus, all transactions are computed in cents. In addition, the Raw and Zero accounts have narrow spreads beginning at 0 pip.

 

👉 Lastly, the Professional ECN account has raw spreads beginning at 0.1 pips in addition to the fee per transaction, making it an excellent choice for experienced traders.

 

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. Pepperstone

Overall Rating

Min Deposit

10 USD /122 BWP

Regulators

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

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Pepperstone, headquartered in Melbourne, Australia, is a multi-regulated Forex broker that provides an innovative trading environment and instantaneous order execution through straight-through processing.

 

👉 When you work with Pepperstone, you can access lightning-fast trade execution, raw dealing spreads, cheap fees, support, and education to help you reach your trading objectives.

 

👉 Pepperstone’s fill times for orders are under 30 milliseconds, making it a great choice for fast traders like scalpers and robot traders.

 

👉 Also available on Pepperstone are web-based and mobile versions of the popular MT4/5 trading platform, which many traders use. You may also utilize cTrader with this broker if that is your preferred platform.

 

Features

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

 

Pros and Cons

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

6. FP Markets

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC, FSCA

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Traders who enjoy the flexibility, ease of use and no cost associated with MetaQuotes’ MetaTrader 4 and MetaTrader 5 (MT4/5) platforms will be pleased with FP Markets.

 

👉 Both MT4 and MT5 forex trading tools are accessible through desktop, online trader, and mobile trading app platforms. Bid and ask prices at FP Markets come straight from the best liquidity sources in the business.

 

👉 FP Markets, like other NDD brokers, uses DMA and ECN to broadcast interbank rates electronically. As a result, foreign exchange dealers with direct market access enjoy the benefits of instantaneous automated execution.

 

👉 Slippage on market and limit orders is minimized thanks to the ECB pricing mechanism. FP Markets gives its customers access to a wide variety of tier-1 forex liquidity providers, including:

➡️ Barclays

➡️ BNP Paribas

➡️ Citibank

➡️ Commerzbank

➡️ Credit Suisse

➡️ Goldman Sachs

➡️ HSBC, and others.

 

Features

Account FeatureValue
💰 Minimum Deposit$65 / 880 BWP
📊 Average SpreadsVariable, from 1 pip
✔️ Instruments Available60+ Forex pairs, metals, indices, commodities
📈 Maximum Leverage Ratio1:500
📱 Execution TypeECN
💵 CommissionsNone
👥 Expert Advisors Offered?Yes
📲 Mobile App Offered?Yes
✔️ VPS Available?Yes

 

Pros and Cons

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

7. Capital.com

Overall Rating

Min Deposit

$20 / 268 BWP

Regulators

CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon

Trading Desk

Market maker

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 With one of the lowest-cost trading environments in the market and a wide variety of tradable assets, Capital.com offers a friendly atmosphere for both novice and experienced MT4 traders.

 

👉 Although Capital.com provides just one trading account, its trading expenses are cheaper than typical, with spreads on the EUR/USD beginning at 0.60 pips and no commission. In addition, there are no fees for deposits, withdrawals, or dormant accounts.

 

👉 Furthermore, while experienced traders frequently prefer greater minimum deposits and narrower spreads in exchange for a per-lot fee, Capital.com provides a low-cost trading environment and a large selection of tradable assets, making it desirable to experienced traders.

 

👉 Capital.com also provides professional accounts to more seasoned traders who match certain requirements.

 

Features

FeatureInformation
📈 Range of MarketsFCA, ASIC, CySEC, NBRB, FSA
⚖️ RegulationFINMA
💻 Account Types• Forex Account (MT4)
• CFD Accounts
• Gold Accounts
💵 Minimum Spread0.1 pips
💸 Minimum Deposit260 BWP ($20)
📱 Platforms Supported• MetaTrader 4
• JForex
📉 Minimum Trade Volume0.01 lots
📈 Maximum LeverageDepends on the account balance

 

Pros and Cons

✔️ Pros❌ Cons
Capital.com offers over 6,000 financial instruments that can be tradedSpreads are marked-up, and there is no BWP-denominated account
There are no commissions charged on trades and no hidden fees
The order execution is dependable and fast
There is an unlimited demo account offered
Capital.com is well-regulated and can guarantee customer fund protection
There is an extremely low minimum deposit when Botswanans fund an account via a card
There is the excellent training material
The broker offers an AI technology-driven platform

8. HFM

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

Overview

👉 HF Markets (HFM) is a worldwide broker formed in 2010 as HotForex. HFM is a multi-asset broker that offers CFD trading on Forex and Commodities.

 

👉 HFM gives access to unrestricted liquidity, allowing any size or profile trader to choose from a few liquidity providers via automated trading platforms and the execution of any strategy.

 

👉 HFM utilizes the ENC/STP model, which means that transactions are routed via third-party liquidity providers to guarantee that there is no customer conflict of interest and that spreads are reduced.

 

👉 In addition, HFM delivers the most dependable trading software, including the MT4 platform and Meta Trader 5, which provide the most advanced trading technology and features.

 

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$5 / 66 BWP

 

Pros and Cons

✔️ Pros❌ Cons
Botswanans can benefit from the deposit bonus offeredHFM does not currently offer a no-deposit bonus or a sign-up bonus to newly registered traders
HFM is one of the best brokers for retail traders, and the broker helps clients by offering a rescue bonusHFM does not offer a referral bonus
Botswanans have access to a demo account contest, which many other brokers do not offer

9. 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

👉 FXTM is a broker with a no-dealing desk policy that gives you access to a wide variety of markets. The term “markets” encompasses more than just the stock and currency exchange markets; it also covers the commodity markets.

 

👉 In addition, FXTM provides one of the most comprehensive education centres of any broker other forex brokers. Thus, if you are a novice trader, lessons and articles are available across the website to assist you in getting started.

 

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

How to Choose the Right NDD 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

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

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

👉 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

👉 There are a few different kinds of forex brokers. However, the NDD forex brokers provide the most open and honest trading environment. For forex trades, the quotations shown by NDD brokers on their trading platforms are the exact prices at which orders will be executed.

 

👉 Botswanan traders can expect competitive trading conditions but must ensure that they understand the fee structure that their NDD broker has.

FAQ

What is an NDD Broker?

NDD brokers do not route customer orders via a central facility known as a “Dealing Desk.” NDD forex brokers, on the other hand, bypass these intermediaries and transmit their clients’ buy and sell orders directly to the forex market through liquidity providers, banks, other brokers, etc.

 

Is FXTM an NDD Broker in Botswana?

Another excellent NDD broker choice is ForexTime (FXTM) for those interested in trading foreign currencies. Moreover, FXTM stands out due to its instructional resources and customer service quality.

 

Which NDD forex broker has the lowest spread?

FBS is one of the NDD Forex Brokers with the lowest spread. Botswanans can expect spreads from as low as -1 pips in ideal market conditions.

 

Are NDD Forex Brokers good for Scalpers in Botswana?

Because NDD forex brokers can offer spreads from 0.0 pips, they are ideal for scalpers trying to profit quickly from the smallest price movements.

 

Why should Botswanans use NDD Brokers to trade Forex?

NDD Brokers automatically execute trader positions at the best price from the interbank market.

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.

10/10 - (1 vote)

Table of Contents