Exness Review
8 Best Social Trading Platforms in Botswana
The 8 Best Social Trading Platforms in Botswana revealed. We tested and verified the best Social and Copy Trading Platforms in Botswana.
This is a complete guide to social trading platforms in Botswana.
In this in-depth guide you’ll learn:
- What is a social trading platform?
- What to consider before social trading?
- How to choose the ideal social trading platform
- Which broker offers the best Copy Trading Platform?
- Which broker offers a minimum deposit of $5 (64 BWP)?
- Which broker offers Apps on Android IOS devices?
And lots more…
So if you’re ready to go “all in” with the top social trading and copy trading brokers’ platforms…
Let’s dive right in…
- Lesche Duvenage
10 Best Forex Brokers in Botswana for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Best Social Trading Platforms in Botswana
| 🏅 Forex Broker | 👉 Open Account | 💰 Minimum Deposit? | 💸 Botswana Shilling (BWP) Deposits Allowed? | 👥 Copy Trading |
| 1. eToro | 👉 Open Account | USD 10 / 136 BWP | Yes | Yes |
| 2. AvaTrade | 👉 Open Account | USD 100 / 1 342 BWP | No | Yes |
| 3. Tickmill | 👉 Open Account | USD 100 / 1 342 BWP | No | Yes |
| 4. fpmarkets | 👉 Open Account | USD 100 / 1 342 BWP | No | Yes |
| 5. IC Markets | 👉 Open Account | USD 200 / 2 685 BWP | No | Yes |
| 6. Vantage | 👉 Open Account
| USD 50 /672 BWP | No | Yes |
| 7. MONETA MARKETS | 👉 Open Account | USD 50 / 672 BWP | No | Yes |
| 8. FXCM | 👉 Open Account | USD 50 / 672 BWP | No | Yes |
What is Social Trading?
Social Trading Defined
Social trading is a way to invest that is based on community participation. Investors follow and watch how other people trade.
Usually, this so-called community takes place on a platform where traders can watch what other traders do, read their comments and opinions, and make their own comments and opinions.
Social trading gives you a fascinating look at how successful traders look at and analyze financial data. You can also use copy trading to copy their exact moves and strategies.
Social trading is a general idea that includes copy and mirror trading and specific trading strategies that can be used because of the social trading environment.
Social trading is becoming increasingly popular, making many traditional finance jobs obsolete. For example, since the financial crisis, clients have lost a lot of trust in wealth management advisors overall.
8 Best Social Trading Platforms in Botswana
- ✔️ eToro – Overall, Best Social Trading Platform in Botswana
- ✔️ AvaTrade – Top Broker for Beginner Traders
- ✔️ Tickmill – Best Social Trading Platform for Experienced Traders
- fpmarkets – Pioneering Copy Trading Platform in Botswana
- IC Markets – Top Proprietary Trading Platform
- Vantage – Best Guides for Botswana Traders
- MONETA MARKETS – Top Multi-Asset Social Trading Platform
- FXCM – Top ECN Broker for Social Trading in Botswana
1. eToro
Overview
eToro is the greatest copy trading platform available on the market. eToro is home to hundreds of verifiable traders who can be replicated with the touch of a button. Thus, there is an investor suitable for most financial objectives.
In addition, it is one of the greatest Islamic brokers licensed by various financial agencies, and 136 BWP / 10 USD is the minimum amount that must be allotted to each trader.
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
There are no extra costs associated with copying a trader, and thus there is no need to participate in a profit-sharing agreement.
eToro has an extensive selection of criteria, making it simple to identify a suitable trader. For example, customers can search for traders based on their past trading success, favourite asset class, given risk rating, and maximum drawdown, among other factors.
Once a trader is chosen, and the position is validated, the investor’s eToro portfolio will reflect all future investments made by that trader. Therefore, the eToro copy trading feature permits passive trading.
Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Retail, Professional |
| 📊 Trading Platform | eToro trading app and web-based platform |
| 💰 Minimum Deposit | 136 BWP equivalent to $10 |
| 💰 Trading Assets | Forex pairs, Commodities, Exchange-Traded Funds (ETFs), Indices, Stocks, Crypto trading, Stocks |
| 🔎 Botswanan Pula-based Account? | No |
| 💳 BWP Deposits Allowed? | No |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 1 pip EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| eToro has a strict and solid regulatory framework | There are limitations on leverage for retail traders |
| Client fund safety is guaranteed and there is consumer protection offered | There is a limited selection of retail investor accounts |
| eToro offers commission-free trading | Fixed spreads are not offered |
| There are over 2,000 complex instruments that can be traded | The spreads are not the tightest |
| The broker offers several trading opportunities and a social trading feature | There is a high minimum deposit on the Islamic Account |
| There is an award-winning proprietary platform offered | There is an inactivity fee charged on dormant accounts |
| eToro offers 24/6 dedicated customer services | |
| eToro offers a demo account and an Islamic Account | |
| Algorithmic trading and margin trading supported | |
| Real time quotes are offered alongside a wide range of benefits | |
| The mobile app is secure and features robust security such as two-factor authentication | |
| The app can be used as a wallet app for digital currencies | |
| Offers several resources that help traders make improved financial decisions with confidence | |
| Offers several helpful tools and services as a solid basis for investment decision along with investment advice | |
| Provides access to several popular cryptocurrencies that can be traded and crypto staking services | |
| There is a comprehensive portfolio management service and popular investor program offered |
2. AvaTrade
Overview
Concentrates on CFDs (contracts for differences) for over 1,260 different products. Even though AvaTrade does not have its own copy trading functionality, the platform may be integrated with that other services.
These include both ZuluTrade and DupliTrade. However, using any of these external platforms, novice traders may easily replicate the actions of more seasoned professionals with only a few mouse clicks.
To use AvaTrade, you must first register an account and deposit at least 1,300 BWP / $100 into it. Botswanans can then decide which third-party supplier and copy investor they desire.
Those interested in incorporating a customized trading strategy into their copy trading might choose AvaTrade. This is because AvaTrade provides investors with a cheap cost of trading by offering zero fees on CFD instruments and low spreads.
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
Stocks, Forex, cryptocurrency, and index trading are all supported marketplaces. The AvaTrade platform also offers leverage, the limitations determined by the user’s country of residency and the asset being traded.
AvaTrade also allows you to use MT4 and MT5, which is a huge plus. In addition, both platforms provide traders access to various technical indicators, chart kinds, order types, and other trading tools.
AvaTrade also has a mobile app for iOS and Android. The user may see their current copy trading positions and place new orders.
Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 📊 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (BWP) | $100 / 1343 BWP |
| 💰 Trading Assets | Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🔎 Botswanan Pula-based Account? | No |
| 💳 BWP Deposits Allowed? | No |
| 💰 Bonuses for Botswanan traders? | Yes |
| 📈 Minimum spread | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
3. Tickmill
Overview
Tickmill offers its clients a great range of services and products. Tickmill is regulated within several regions by the Cyprus Securities and Exchange Commission (CySEC), The Financial Conduct Authority (FCA), and the Financial Sector Conduct Authority (FSCA).
Overall Rating
- 4.7/5
Min Deposit
$100 / 1 343 BWP
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Tickmill allows all social trading methods, enabling you to trade using MQL signals, AutoTrade, and even become a Multi-Account Manager. As part of this commitment, Tickmill launched a project in collaboration with ForexClub.pl, the leading Polish forex education resource and one of the most successful professional money managers in Poland.
This course helps new traders get started with social trading, a fast-growing trend in the FX trading industry.
Features
| Feature | Information |
| ⚖️ Regulation | FSA, FCA, CySEC, Labuan FSA, FSCA |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | $100 / 1 343 BWP |
| 📈 Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:500 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The trading platforms are robust and user-friendly | United States Clients cannot register with Tickmill |
| There are three dynamic Tickmill accounts offered, featuring competitive spreads and a commission-free classic account | There are no fixed spread accounts offered |
| Tickmill is well regulated in several regions with a proven track record of excellent trading services | Currency conversion fees may be deducted |
| There are flexible funding options provided including Skrill, Neteller, bank wire transfer, and others | The spreads are not the tightest |
| Traders are given access to AutoChartist, VPS, and FIX API trading | |
| There are industry standard initial deposits required to register an account | |
| There is a commission-free trading account offered and the minimum balance amounts are reasonable | |
| Negative balance protection is applied to retail accounts | |
| There is no deposit fee or withdrawal fee charged | |
| Educational videos and other educational resources are available | |
| Retail traders have access to several tools to help them navigate complex instruments | |
| Social trading opportunities are provided |
4. fpmarkets
Overview
FP Markets is a leading Australia-based Forex broker with a global reach. The broker comes well-regulated and offers excellent trading conditions for beginner to advanced traders.
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 Copy Trading allows you to find, follow and copy successful traders automatically. There is no need to build your own trading strategy or conduct research on forex markets. Copy trading removes the complexities of trading forex and CFDs.
Features
| Feature | Information |
| ⚖️ Regulation | CySEC, ASIC, FSCA |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Botswanan Traders? | Yes |
| 💳 Minimum deposit (BWP) | USD 100 / 1 342 BWP |
| 📈 Average spread from | N/A |
| 📈 Maximum Leverage | 1:500 |
| 👥 Customer Support | 24/7 |
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 |
5. IC Markets
Overview
IC Markets consist of 3 different account types. cTraders Raw Account, Standard Account, Raw Account together with Demo accounts and Islamic account options. Minimum deposit amount starting at USD 200 / 2 685 BWP. Floating pips from 0 pip and maximum leverage 1:500
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
IC Markets has teamed up with London-based Pelican Trading to provide a new social trading app, IC Social. Users can join active communities to learn from seasoned traders while copying strategies into their own accounts. The IC Social app is available from the Apple App Store and Google Play.
Features
| Account Feature | Value |
| 💻 Trading Platform | cTrader |
| 💰 Commission | $3 per side and $6 per round turn |
| 📈 Typical Average Spreads | 0.0 |
| 💳 Minimum Deposit Requirement | USD 200 / 2 685 BWP |
| 📈 Leverage | 1:500 |
| 📈 Maximum positions per account | 2,000 |
| 🏛️ Server Location | London |
| ✴️ 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 | C# |
| 👍 Suitable for | Day traders, scalpers, active traders |
| 📊 Demo Account offered? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| NAGA offers a decent selection of educational materials for beginners | Withdrawal fees apply |
| NAGA is known as a pioneer in copy trading | There is lower protection for traders who register through the offshore entity |
| There is a large range of instruments offered to Botswanans | Traders will be disappointed to find that the web version of NAGA does not support one-click trading or stop-loss orders |
| The platform is well-regulated, and Botswanans are assigned a personal account manager | |
| Traders can trade real assets and CFDs |
6. Vantage
Overview
Vantage FX provides three different account types, namely the Standard STP account, the Raw ECN account, and the Pro ECN account. Each account type has its own set of conditions for commission, fees, margin calls, leverage, and minimum deposits.
Overall Rating
- 4.7/5
Min Deposit
USD 50 /672 BWP
Regulators
VFSC
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Vantage, a multi-asset CFD broker extended its service by introducing social trading on its Mobile application. The broker agreed to this idea as a way to expand its client base and also ease the mode of operations for the clients.
Different from applications used by most trading platforms, the Vantage app can now support both regular and social trading.
Features
| Feature | Information |
| 📈 Range of Markets | Forex, Soft Commodities, Precious Metals, Bonds, Share CFDs, Indices, Energies, ETFs |
| ⚖️ Regulation | CIMA, VFSC, ASIC, CySEC |
| 💻 Account Types | • Raw ECN Account • Standard STP Account • PRO ECN Account • Cent Account • Swap-Free Account |
| 💵 Minimum Spread | 0.0 pips |
| 💸 Minimum Deposit | USD 50 /672 BWP |
| 📱 Platforms Supported | • Vantage App • ProTrader • MetaTrader 4 • MetaTrader 5 • V Social |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Leverage | 1:1000 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There is a large range of trading instruments offered | There is no BWP-denominated account |
| There are sophisticated trading platforms | Trading is mostly limited to CFD instruments and not underlying instruments |
| Vantage Markets offers flexible trading accounts suited to different traders | |
| There are spreads from 0.0 pips on major instruments according to the account type | |
| PAMM Solutions are provided | |
| There are several educational materials offered | |
| Botswanans pay a low minimum deposit when they register a Cent Account |
7. Moneta Markets
Overview
Recently established in 2020, Moneta Markets is a Cayman Islands-based Forex broker that provides access to a wide range of popular assets and instruments at highly competitive rates, with spreads as low as 0.0 pips and commission-free trading available for some instruments.
Overall Rating
- 3.0 /5
Min Deposit
USD 50 / 672 BWP
Regulators
CIMA
Trading Desk
MT4, MT5, WebTrader
Crypto
No
Total Pairs
49
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
The Company provides a real-time copy trading platform which integrates rich community and social characteristics into the trading platform.
Moneta Markets offers live STP and ECN trading accounts. These consist of the Moneta STP, Moneta ECN, and Moneta Prime accounts.
Features
| Feature | Information |
| 📈 Range of Markets | Bonds, ETFs, Share CFDs, Forex, Indices, Commodities |
| ⚖️ Regulation | FSCA, CySEC, SVG FSA |
| 💻 Account Types | Direct STP Account Prime ECN Account |
| 💵 Minimum Spread | 0.0 pips |
| 💸 Minimum Deposit | 672 BWP ($50) |
| 📱 Platforms Supported | • Pro Trader • MetaTrader 4 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Leverage | 1:500 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Moneta Markets offers excellent research for traders | There are limited options in terms of withdrawals |
| There are no deposit or inactivity fees charged | There is no BWP-denominated account offered to Botswanans |
| Moneta Markets has streamlined onboarding | |
| There is a range of markets that can be traded | |
| Botswanans pay a low minimum deposit to register an account | |
| A demo account is available | |
| There are advanced trading platforms |
8. FXCM
Overview
FXCM’s support for ZuluTrade makes it a strong option for copy trading. In addition, it is a wonderful alternative for traders who value sophisticated trading tools and quality research. However, FXCM’s breadth of markets remains limited, and its pricing is mediocre.
FXCM provides “At Market” orders, susceptible to slippage, and “Market Range” orders, less susceptible to slippage but might be rejected if the specified price or price range is no longer available. Similarly, limit orders are more susceptible to positive slippage.
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
For $30 a month, Botswanans can also follow prominent traders on the Zulutrade platform. A social trading platform in which transactions are performed using FXCM’s competitive spreads, and 25% of earnings are given to the trader if their return on investment is successful.
Zulutrade allows clients to trade equities, FX, CFDs, and cryptocurrency. Zulutrade employs sophisticated algorithms and a specialized trading department to pick its traders.
Features
| Features | Information |
| ⚖️ Regulation | FCA, ASIC, CySEC, FSCA |
| 💸 Minimum Withdrawal Time | – |
| 📈 Maximum Withdrawal Time | 2 to 4 working days |
| 💰 Instant Deposits/Withdrawals? | Yes, deposits |
| 💳 BWP-Denominated Account? | No |
| 📱 Minimum Deposit Amount | USD 50 / 672 BWP |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXCM supports both CFD and forex trading and offers several trading options | There are high commission charges |
| Botswanans can access leverage up to 1:400 | An inactivity fee and currency conversion fee are charged |
| Several asset classes can be traded | There is a limited choice between retail accounts |
| FXCM offers several trading platforms and trading tools that Botswanans can use to their advantage | Does not support MT5 |
| There are competitive spreads on the CFD account | There is no option to register an account denominated in BWP |
| There is a demo and Islamic account | Withdrawal fees apply |
| FXCM is well-regulated by four reputable entities | The Islamic Account faces additional fees |
| Client fund security and investor protection are guaranteed |
What to consider before social trading?
Before engaging in social trading, several considerations are essential to ensure a well-informed and successful experience:
Research the Platform:
Choose a reputable social trading platform. Investigate the platform’s track record, user reviews, and regulatory compliance. Ensure that the platform aligns with your trading preferences and goals.
Diversify Your Portfolio:
Avoid putting all your funds into a single trader. Diversify your investments by following multiple traders with different trading styles and strategies. This helps spread risk and enhances the stability of your portfolio.
Stay Informed:
Even when engaging in social trading, it’s crucial to stay informed about the financial markets. Understand the factors influencing asset prices and be aware of economic events that may impact your investments.
Set Realistic Goals:
Clearly define your financial goals and expectations. Social trading is not a guaranteed way to make profits, and setting realistic expectations helps avoid disappointment. Utilize Risk Management Tools: Most social trading platforms offer risk management tools such as stop-loss orders. Take advantage of these tools to control potential losses and protect your investment capital. Regularly Review and Adjust: Periodically review the performance of the traders you follow. If a trader’s strategy or performance deviates from your expectations, consider making adjustments to your portfolio.
Consider Regulation:
Ensure that the social trading platform and the traders you follow are regulated by relevant financial authorities. Regulation adds a layer of security and ensures that the platform adheres to industry standards. Start with a Demo Account: Many social trading platforms offer demo accounts. Consider starting with a demo account to familiarize yourself with the platform’s features and test your chosen traders’ strategies without risking real money.
How to Choose the Right Forex Broker in Botswana
Botswanan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.
Regulations and Licenses
This is the first vital component that Botswanan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.
Botswanans must beware when dealing with brokers with only offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Botswanans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Botswanans must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor. Botswanans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Botswanan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers in Botswana
In this article, we have listed the best brokers that offer forex trading to traders in Botswana. In addition, we have further identified the brokers that offer additional services and solutions to Botswanan traders.
Best MetaTrader 4 / MT4 Forex Broker in Botswana
Overall Rating
- 4.6/5
Min Deposit
USD 25
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, OctaFX is the best MT4 forex broker in Botswana. OctaFX is an MT4 and MT5 broker that provides Botswanans with various markets. OctaFX offers a choice of accounts via MT4, including ECN and STP accounts, with superior trade execution.
Best MetaTrader 5 / MT5 Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$100 / 1 342 BWP
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, AvaTrade is the best MetaTrader 5 forex broker in Botswana. In addition, AvaTrade is regarded as one of the most secure MT5 forex brokers.
No commission is charged for trading currency pairings, only leaving the spread to be paid. A demo account is also available for traders to sharpen their abilities via MT5 and several other platforms.
Best Forex Broker for beginners in Botswana
Overall Rating
- 4.1/5
Min Deposit
$100
Regulators
CFT, NFA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FOREX.com is the best forex broker for beginners in Botswana. FOREX.com is a broker renowned for low trading fees and beginner-friendly solutions. In addition, FOREX.com offers several educational materials and a helpful demo account.
Best Low Minimum Deposit Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
$10 / 134 BWP
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Exness is the best Low Minimum Deposit Forex Broker in Botswana. Exness has a minimum deposit requirement of 10 USD / 130 BWP, making it easy for Botswanans to start trading 278 instruments.
Exness also offers MT4 and MT5 through which trades can be made. In addition, it offers some of the best trading tools, charting capabilities, technical indicators, expert advisors, and more.
Best ECN Forex Broker in Botswana
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
CySEC, FCA, DFSA, FSCA, FSA, CMA
Trading Desk
MT4, MT5, HFM APP
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
0
Account Activation Time
24 Hours
Overall, HFM is the best ECN forex broker in Botswana. HFM is a hybrid forex and CFD broker that uses STP and ECN technology to ensure that Botswanans get the best pricing, minimal slippage, no requotes, and the fastest trade execution.
HFM uses the best liquidity providers who aggregate the pricing that Botswanans can see on MT4, MT5, and the HF App for Android and iOS.
Best Islamic / Swap-Free Forex Broker in Botswana
Overall Rating
- 4.8/5
Min Deposit
USD 10 / 136 BWP
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, eToro is the best Islamic / Swap-Free forex broker in Botswana. eToro is a renowned social trading platform that offers Muslim traders an Islamic Account.
eToro does not charge any interest on positions held for over 24 hours. However, registering an Islamic Account can be expensive initially, requiring a 1,000 USD / 13,400 BWP deposit.
Best Forex Trading App in Botswana
Overall, 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.
You might also like: Best Trading Robots in Botswana
You might also like: Best cTrader Brokers in Botswana
You might also like: Best Forex Trading Apps in Botswana
You might also like: Best Forex Trading Strategies in Botswana
You might also like: Forex Trading for Beginners in Botswana
Conclusion
Social Forex trading could be a fantastic source of passive income. However, before following and copying the trades of traders you want to follow, you must do your own due diligence.
Always ensure that you comprehend the danger associated with this technique and be prudent with your hard-earned funds.
If you are already a good trader, social network trading might allow you to make more money by sharing with other traders. However, potentially worrisome is the fact that others depend on your transactions to generate a profit, which is a disadvantage.
To trade effectively in stocks, Forex, or cryptocurrency, you need considerable knowledge and the ability to interpret price charts.
Frequently Asked Questions
What is Social Trading in Botswana?
With social trading, individuals can instantly communicate and exchange data. One of the many advantages of this method is that it enables novice traders to observe the actions of seasoned pros and model their own behavior accordingly.
Is Social Trading legal in Botswana?
Copy trading is legal in Botswana.
What is a Social Trading account in Botswana?
Using a social trading account, Botswanan traders can easily monitor the trades of their peers and professional traders. Therefore, the key goal of a social trading account is to mimic their trades and earn a profit.
Is Social Trading a safe option for Botswanans?
You should be aware that if you decide to follow the technique of another trader or traders utilizing the Social Trading features, you risk incurring losses that much outweigh your initial investment.
How can Botswanans start Social Trading?
Botswanans must evaluate their trading budget and overall risk appetite. Next, traders can review different social trading platforms and brokers, select a platform, and register an account with the broker or a broker that supports the platform.
Next, traders can filter through those who provide signals and start following them to evaluate and monitor their strategies to determine their suitability. Once traders are ready, they can start social trading with a demo account before risking capital.
Which broker offers the best Copy Trading Platform?
- eToro
- AvaTrade
- Tickmill
- fpmarkets
- IC Markets
Which broker offers a minimum deposit of $5 (64 BWP)?
XM offers a minimum deposit of $5 / 64 BWP
Which broker offers Apps on Android IOS devices?
- eToro
- AvaTrade
- Tickmill
- fpmarkets
- IC Markets
- Vantage
- MONETA MARKETS
- FXCM
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.
