Exness 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…
- Lesche Duvenage
Best NDD Forex Brokers in Botswana
| 🏛️ Broker | 👉 Open Account | 💵 Minimum Deposit | 💰 NDD Forex Broker? | ✔️ Offers a Botswana Pula Account? |
| 1. Alpari | 👉 Open Account | USD 5 / 67 BWP | Yes | No |
| 2. Markets.com | 👉 Open Account | USD 100 /1 232 BWP | Yes | No |
| 3. IC Markets | 👉 Open Account | USD 200 / 2 685 BWP | Yes | Yes |
| 4. Exness | 👉 Open Account | USD 10 / 134 BWP | Yes | Yes |
| 5. Pepperstone | 👉 Open Account | USD 0 / 0 BWP | Yes | Yes |
| 6. FP Markets | 👉 Open Account | USD 100 /1 343 BWP | Yes | No |
| 7. Capital.com | 👉 Open Account | USD 20 / 269 BWP | Yes | No |
| 8. HFM | 👉 Open Account | USD 0 / 0 BWP | Yes | Yes |
| 9. FXTM | 👉 Open Account | USD 10 / 134 BWP | Yes | No |
10 Best Forex Brokers in Botswana for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What are the No Dealing Desk (NDD) brokers?
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.
9 Best NDD Forex Brokers in Botswana
- ✔️ Alpari – Overall, Best NDD Forex Broker in Botswana
- ✔️ Markets.com – Top STP Forex Broker
- ✔️ IC Markets – Verified Volatility 75/VIX 75 Forex Brokers
- Exness – Bet Nasdaq 100 Forex Broker in Botswana
- Pepperstone – Top Low Spread Forex Broker
- FP Markets – Best Mobile Trading App in Botswana
- Capital.com – Top Islamic Swap-Free Forex Broker
- HFM – Best ECN Forex Broker in Botswana
- FXTM – Top Low Minimum Deposit Broker
1. Alpari
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.
Overall Rating
- 4.7/5
Min Deposit
5 USD / 67 BWP
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Alpari Trading App |
| 💰 Minimum Deposit | 67 Botswanan Pula or 5 EUR, USD, or GBP |
| 💰 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 🔎 Botswanan Pula-based Account? | Yes |
| 💳 BWP Deposits Allowed? | Yes |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 0.4 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated and award-winning CFD broker | Fixed spreads are not offered |
| Offers forex trading signals from AutoChartist and automatic trading | Not 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 devices | There is a limited selection of trading instruments, educational tools, and research |
| News is streamed from FxWirePro | There 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
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.
Overall Rating
- 4.7/5
Min Deposit
100 USD /1 349 BWP
Regulators
CySEC, FSCA, ASIC, FCA, FSC
Trading Desk
MetaTrader 4, MetaTrader 5 Markets.com, proprietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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 Feature | Value |
| 💵 Minimum Deposit | 1 349 BWP or an equivalent to $100 |
| 📊 Average Spreads | From 0.8 pips on major forex pairs |
| 📈 Average Spreads MetaTrader 4 | From 0.6 pips on major forex pairs |
| 📉 Average Spreads MetaTrader 5 | From 0.6 pips on major forex pairs |
| 💰 Commissions | None |
| 💵 Leverage | Up to 1:300 for non-EU traders |
| 💸 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • MarketsX |
| 📱 Customer Support Offered | Yes |
| 💻 Trading Signals | Yes |
| 🔧 Trading Tools offered | Yes |
| 🚨 Trading Alerts and Notifications | Customizable alerts |
| 📉 Range of Markets | 8,000+ financial instruments |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Markets.com is extremely well-regulated | There is an inactivity fee |
| There are commission-free options offered | |
| Markets.com provides advanced trading tools | |
| There is 24/5 dedicated customer support | |
| Botswanans can choose from flexible account types | |
| There is a demo and Islamic account | |
| There are flexible funding and withdrawal options offered |
3. IC Markets
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.
Overall Rating
- 4.7/5
Min Deposit
USD 200 / 2 685 BWP
Regulators
ASIC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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 Platform | MetaTrader 4 and 5 |
| 💰 Commission | None |
| 📈 Typical Average Spreads | 0.6 |
| 💳 Minimum Deposit Requirement | 2 685 Botswanan Pula equivalent to $200 |
| 📈 Leverage | 1:500 |
| 📈 Maximum positions per account | 200 |
| 🏛️ Server Location | New York |
| ✴️ Micro trading allowed? | Yes |
| 📊 Currency Pairs | 64 |
| 📊 Index CFD Trading | Yes |
| 📊 Stop-out | 50% |
| 📈 One-Click Trading offered? | Yes |
| ☪️ Islamic Accounts | Yes |
| 📊 Trading Styles accepted | Scalping, hedging, expert advisors, algorithmic strategies, etc. |
| 💻 Programming Language | MQL4 |
| 👍 Suitable for | Discretionary Traders |
| 📊 Demo Account offered? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IC Markets is a multi-regulated forex and CFD broker with a decent trust score and a low-risk reputation | There is a higher minimum deposit requirement charged than other brokers |
| There is real raw spread trading offered across several asset classes | Botswanan traders could face currency conversion fees |
| IC Markets offers some of the best spreads in the industry | There is no BWP-denominated account offered |
| Botswanans can choose between MetaTrader 4, MetaTrader 5, and cTrader as their preferred platform | There are no fixed spreads offered by IC Markets |
| There is a choice between three different account types that suit different types of traders | There is no proprietary trading platform, or an app offered by IC Markets |
| There are no hidden fees and IC Markets is one of the best options for high volume trading because it has a long list of liquidity providers | |
| There is a free demo account offered | |
| There is an Islamic account option offered to Muslim traders |
4. Exness
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.
Overall Rating
- 4.9/5
Min Deposit
$10 / 134 BWP
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit | $10 / 134 BWP |
| 💰 Trading Assets | Forex 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 spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker has a global presence and has authorization and regulation with market regulators around the globe | There is a limited selection of tradable instruments and only a few asset classes |
| Offers instant withdrawals and deposits | There are only a few funding options offered |
| Botswanan traders have a choice between several dynamic account types | |
| Client fund safety is guaranteed and there is investor protection offered | |
| Offers 24/7 customer support that is both prompt and helpful | |
| There are tight and variable spreads offered with competitive commissions |
5. Pepperstone
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.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 BWP
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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 Feature | Value |
| 💰 Minimum Deposit | $0 / 0 BWP |
| 💻 Minimum Trading Size | 0.01 lots |
| 📈 Maximum Trading Size | 100 lots in a single trade |
| 💵 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
| ✅ Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
| 🗞 News Trading Offered? | Yes |
| ➡️ Trade Execution | No-Dealing Desk (NDD) |
| 📊 Average EUR/USD Spread | From 0.6 pips |
| 💸 Commissions | None |
| 🔃 Rollover Swaps | Yes, according to the market rates |
| ⬆️ Maximum Leverage per region | • Australia – 1:30 • Bahamas – 1:200 • Cyprus – 1:30 • Dubai – 1:30 • Germany – 1:30 • Botswana – 1:400 • United Kingdom – 1:30 |
| ❌ Negative Balance Protection Offered | Yes, only for retail clients |
| ✅ Margin Close-Out (%) | 50% |
| 🔨 Trading Instruments offered | 1,200+ |
| 💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone offers competitive spreads that start from 0.0 pips on EUR/USD | There are restrictions on the countries that may use Pepperstone’s Islamic account |
| Pepperstone is well-regulated and offers an extremely secure trading environment with transparent trading fees | There is no BWP-denominated account offered, subjecting Botswanans to currency conversion fees |
| Investor protection is offered to EU clients through the FSCS | There are additional administrative fees applied to the Islamic account |
| Pepperstone offers a choice between some of the best trading platforms | |
| Negative balance protection is offered for clients in certain regions | |
| There is an Islamic account offered to Muslim traders | |
| There is a demo account offered by Pepperstone | |
| There are several trading tools offered |
6. FP Markets
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.
Overall Rating
- 4.7/5
Min Deposit
100 USD/1 343 BWP
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FP Markets, 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 Feature | Value |
| 💰 Minimum Deposit | 100 USD / 1 343 BWP |
| 📊 Average Spreads | Variable, from 1 pip |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | None |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| fpmarkets is a well-established Australian broker regulated by ASIC and CySEC | Fixed spreads are not available |
| Botswanan traders can choose from an impressive range of markets that can be traded through powerful platforms | There are withdrawal fees charged on most payment methods that are supported |
| fpmarkets offers comprehensive mobile trading opportunities | There are administration fees which apply to the Islamic accounts and trading |
| Botswanan traders can expect superior ECN pricing that includes raw and tight spreads and low commissions | |
| fpmarkets is known for its fast trade execution that is delivered through the Equinix servers | |
| There are commission-free accounts offered that still feature competitive spreads | |
| There are dedicated Islamic accounts for Muslim traders | |
| fpmarkets offers a range of educational materials and advanced trading tools |
7. Capital.com
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.
Overall Rating
- 4.6/5
Min Deposit
$20 / 269 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
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
| Feature | Information |
| 📈 Range of Markets | FCA, ASIC, CySEC, NBRB, FSA |
| ⚖️ Regulation | FINMA |
| 💻 Account Types | • Forex Account (MT4) • CFD Accounts • Gold Accounts |
| 💵 Minimum Spread | 0.1 pips |
| 💸 Minimum Deposit | $20 / 269 BWP |
| 📱 Platforms Supported | • MetaTrader 4 • JForex |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Leverage | Depends on the account balance |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Capital.com offers over 6,000 financial instruments that can be traded | Spreads 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
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.
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
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
| Features | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, CMA, and FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
| 💸 Minimum Withdrawal Time | – |
| 📈 Maximum Withdrawal Time | 2 to 4 working days |
| 💰 Instant Deposits/Withdrawals? | Yes, deposits |
| 💳 BWP-Denominated Account? | No |
| 📱 Minimum Deposit Amount | $0 / 0 BWP |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Botswanans can benefit from the deposit bonus offered | HFM 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 bonus | HFM does not offer a referral bonus |
| Botswanans have access to a demo account contest, which many other brokers do not offer |
9. FXTM
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 centers 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.
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
FXTM is considered low-risk, with an overall Trust Score of 84% out of 100. FXTM is licensed by three Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). FXTM offers three different retail trading accounts as well as Demo and Islamic accounts. FXTM is currently not regulated by the Central Bank of Botswana.
Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit | 134 Botswanan Pula equivalent to $10 |
| 💰 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets |
| 🔎 Botswanan Pula-based Account? | Yes |
| 💳 BWP Deposits Allowed? | Yes |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthiness | Inactivity fees apply when the retail investor account becomes dormant |
| Dedicated customer support offered for Botswanan traders Several deposit options and withdrawal methods offered | |
| There is a low minimum deposit requirement | |
| Commission-free trading is offered | |
| Deposit fees are not charged on any payment methods | |
| Withdrawal processing times are quick | |
| There are several educational tools offered | |
| There is an exclusive risk management tool offered |
Why traders in Botswana should sign up with an NDD broker?
Traders in Botswana should consider signing up with an NDD (No Dealing Desk) broker for several compelling reasons. NDD brokers operate without a traditional dealing desk, meaning they do not take the opposing side of their clients’ trades. This setup eliminates the potential for conflicts of interest, as the broker’s profits are derived from transparent commissions or spreads rather than profiting from clients’ losses.
NDD brokers often provide direct market access, allowing traders to interact with liquidity providers, leading to faster execution and potentially lower spreads. This model typically results in a more transparent and fair trading environment. Additionally, NDD brokers can offer a variety of trading strategies, including scalping and high-frequency trading, without restrictions. By choosing an NDD broker, traders in Botswana can benefit from enhanced transparency, faster execution, and the flexibility to implement diverse trading strategies in the global financial markets.
How to Choose the Right NDD Forex Broker in Botswana
Botswanan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.
Regulations and Licenses
This is the first vital component that Botswanan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.
Botswanans must beware when dealing with brokers with only offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Botswanans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Botswanans must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor. Botswanans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Botswanan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers in Botswana
In this article, we have listed the best brokers that offer forex trading to traders in Botswana. In addition, we have further identified the brokers that offer additional services and solutions to Botswanan traders.
Best MetaTrader 4 / MT4 Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 25
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, OctaFX is the best MT4 forex broker in Botswana. OctaFX is an MT4 and MT5 broker that provides Botswanans with various markets. OctaFX offers a choice of accounts via MT4, including ECN and STP accounts, with superior trade execution.
Best MetaTrader 5 / MT5 Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$100 / 1 342 BWP
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, AvaTrade is the best MetaTrader 5 forex broker in Botswana. In addition, AvaTrade is regarded as one of the most secure MT5 forex brokers.
No commission is charged for trading currency pairings, only leaving the spread to be paid. A demo account is also available for traders to sharpen their abilities via MT5 and several other platforms.
Best Forex Broker for beginners in Botswana
Overall Rating
- 4.1/5
Min Deposit
$100
Regulators
CFT, NFA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FOREX.com is the best forex broker for beginners in Botswana. FOREX.com is a broker renowned for low trading fees and beginner-friendly solutions. In addition, FOREX.com offers several educational materials and a helpful demo account.
Best Low Minimum Deposit Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$10 / 134 BWP
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Exness is the best Low Minimum Deposit Forex Broker in Botswana. Exness has a minimum deposit requirement of 10 USD / 130 BWP, making it easy for Botswanans to start trading 278 instruments.
Exness also offers MT4 and MT5 through which trades can be made. In addition, it offers some of the best trading tools, charting capabilities, technical indicators, expert advisors, and more.
Best ECN Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
Overall, HFM is the best ECN forex broker in Botswana. HFM is a hybrid forex and CFD broker that uses STP and ECN technology to ensure that Botswanans get the best pricing, minimal slippage, no requotes, and the fastest trade execution.
HFM uses the best liquidity providers who aggregate the pricing that Botswanans can see on MT4, MT5, and the HF App for Android and iOS.
Best Islamic / Swap-Free Forex Broker in Botswana
Overall Rating
- 4.8/5
Min Deposit
USD 10 / 136 BWP
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, eToro is the best Islamic / Swap-Free forex broker in Botswana. eToro is a renowned social trading platform that offers Muslim traders an Islamic Account.
eToro does not charge any interest on positions held for over 24 hours. However, registering an Islamic Account can be expensive initially, requiring a 1,000 USD / 13,400 BWP deposit.
Best Forex Trading App in Botswana
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 BWP
Regulators
ASIC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, CMC Markets is the best forex trading app in Botswana. In addition, CMC Markets offers a user-friendly mobile app with research tools, powerful charts, customizable watch lists, news reports, and a range of educational materials.
Best Lowest Spread Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 0 / 0 BWP
Regulators
FCA, CySEC, IFSC, KNF
Trading Desk
No Trading Desk
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, XTB is the best lowest-spread forex broker in Botswana. XTB is a well-known forex and CFD broker with low and competitive forex spreads from 0.1 pips depending on the financial instrument and the market conditions.
XTB is also a good broker in terms of educational materials and research capabilities, providing traders with comprehensive market analysis across markets.
Best Nasdaq 100 Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXTM is the best Nasdaq 100 forex broker in Botswana. FXTM is a multi-regulated forex and CFD broker that accommodates Botswanan traders with a keen interest in Nasdaq. Traders can expect low and competitive spreads, a choice between accounts, and powerful trading platforms.
Best Volatility 75 / VIX 75 Forex Broker in Botswana
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 BWP
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, IG is Botswana’s best Volatility 75 / VIX 75 forex broker. IG is one of the best CFD brokers with powerful proprietary trading technology.
IG is well-regulated and offers Botswanans access to VIX75, with spreads from 0.04 pips / 0.13% and zero commission charges.
Best NDD Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 50 / 672 BWP
Regulators
FCA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXCM is the best NDD forex broker in Botswana. FXCM is a No-Dealing Desk broker with STP and ECN execution across several markets.
In addition, FXCM offers a choice between third-party platforms in addition to technical indicators, charting tools, and competitive trading conditions.
Best STP Forex Broker in Botswana
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
36
Islamic Account
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
- 4.7/5
Min Deposit
50 USD / 682 BWP
Regulators
CYSEC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Windsor Brokers is the best sign-up bonus broker in Botswana. Windsor Brokers is a well-regulated broker that offers Botswanans a welcome account funded with 30 USD in trading credit. With this account, Botswanans can explore the platform or risk-free test their strategies.
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Conclusion
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.
Frequently Asked Questions
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.
Who is the best forex broker with a Botswana Pula trading account?
- Exness
- AvaTrade
- HFM
- IG
- FXCM
- Tickmill
Which NDD brokers have local offices in Botswana?
- Alpari
- IC Markets
- Exness
- HFM
Which is the #1 Best low bandwidth trading app for Botswanans?
- IC Markets
- XM
- RoboForex
- AvaTrade
- fpmarkets
Which brokers offer a low minimum deposit of $5 (64 BWP) to Botswanan Traders?
Alpari offers low minimum deposit.
Which traders offer a sign-up bonus for first-time traders?
- Markets.com
- HFM
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.
