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

CM Trading minimum deposit review

8 Best STP Forex Brokers in Botswana

The 8 Best STP Forex Brokers for Botswanans revealed. We tested the best STP Forex Brokers for Botswana Traders.

This is a complete guide to STP Forex Brokers in Botswana.

In this in-depth guide you’ll learn:

  • What are Straight Through Processing (STP) Forex Brokers?
  • Which STP forex brokers offer the best trading platforms for Botswana traders?
  • Which STP Brokers can you use with M-PESA?
  • How to compare the best trading platforms against each other. 
  • Which STP forex brokers are best for beginner Kenayn Traders? 
  • Which brokers offer a sign-up bonus for first-time traders in Botswana? 
  • Which brokers offer a low minimum deposit of $5 (64 BWP) to start trading? 
  • Which STP Brokers offer a mobile app on IOS and Android for Botswana Traders? 

 

And lots more…

So if you’re ready to go “all in” with the best STP Forex Brokers

Let’s dive right in…

Updated : November 16, 2022

Best STP Forex Brokers in Botswana

🏛️ Broker✔️ STP Forex Broker?💵 Botswana Pula Deposits Allowed?✔️ Offers a Botswana Pula Account?👉 Open Account
1. FBSYesYesYes👉 Open Account
2. Forex.comYesNoNo👉 Open Account
3. LiteFinanceYesNoNo👉 Open Account
4. AvaTradeYesYesYes👉 Open Account
5. IGYesNoNo👉 Open Account
6. FP MarketsYesNoNo👉 Open Account
7. PepperstoneYesYesYes👉 Open Account
8. HFMYesYesYes👉 Open Account

8 Best STP Forex Brokers in Botswana

  1. FBS – Overall, Best STP Forex Broker in Botswana
  2. FOREX.com – Best Nasdaq100 Forex Broker in Kenya
  3. LiteFinance – Lowest Spread STP Forex Broker 
  4. AvaTrade – Top Broker for Beginner Traders
  5. IG – Best Sign-Up Bonus Forex Broker in Kenya
  6. FP Markets – Top STP NDD Forex Broker for Kenyan Traders
  7. Pepperstone – Verified STP ECN Forex Broker
  8. HFM – Top STP Minimum Deposit Forex Brokers

What is STP in Forex?

👉 Forex brokers that process trading orders instantly are known as Straight Through Processing (STP) brokers. To execute and fulfil trading orders, these brokers transmit them directly to liquidity providers (big banks).

 

👉 Straight Through Processing (STP) is feasible owing to the creation of the Financial Information Exchange (FIX) protocol. The STP model was developed to provide the best price for traders, minimize slippage and re-quotes, and speed up the time needed to execute trades.

 

👉 Thus, STP describes how brokers that do not use a dealing desk send out trades. Straight-through-processing (STP) brokers are a subset of the NDD (No Dealing Desk) brokerage model. Market makers, who work at dealing desks, are the counterparties in a trade.

 

👉 They achieve this by either taking on the transaction themselves or recruiting another customer to take the opposing side.

 

👉 Due to market makers’ disconnection from the larger trading community, they have a smaller pool of customers from which to source counter-trades. Subsequently, it is common for the broker to make the market himself and purchase the stock you are selling.

 

👉 Regulated STP forex brokers have different licenses than market makers. Therefore, they are referred to as A-book brokers, in contrast to B-book brokers who act as market makers.

1. FBS

Overall Rating

Min Deposit

USD 1 / 12 Pula

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

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

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Welcome Bonus

$140 (1 718 PulaFind out More)

Account Activation Time

24 Hours

Overview

👉 FBS was founded in 2009 as an ST and ECN CFD broker dealing in foreign exchange, and it is supervised by the IFSC, CySEC, ASIC, and FSCA.

 

👉 Since its establishment, FBS’ operations have expanded in size and scope; currently, millions of traders from over 190 countries use the brand’s services to trade Forex, commodities, metals, cryptocurrencies, and more.

 

👉 Straight Through Processing (STP) and an Electronic Communications Network (ECN) are used in the FBS broker concept to create a hybrid framework. Since orders are sent electronically to the systems of the market’s liquidity providers, a dealing desk is not necessary.

 

Features

FeatureInformation
⚖️ RegulationIFSC, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (NGN)$1 / 64 BWP
📊 Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:3000
👥 Customer Support 24/7

 

Pros and Cons

✔️ Pros❌ Cons
FBS offers competitive trading conditions with some of the lowest spreadsThere are wide spreads charges on some accounts
There are several account types to choose fromThere is a limited number of tradable instruments
There are many social trading opportunitiesThere are several regional restrictions applied
There is an ultra-low minimum deposit requirement
The broker is well-regulated and trusted

2. FOREX.com

logo 19

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 FOREX.com, founded in 2001, is a worldwide FX and CFD trading firm. FOREX.com offers investors direct access to liquidity provider transactions via its STP Pro Model.

 

👉 The site provides more than ninety foreign exchange currency pairings, including major, minor, and exotic ones. With the STP Pro Model, traders can access the popular EUR/USD pair at a spread of no more than 0.2 pips.

 

👉 With FOREX.com, Botswanans can expect that a standard lot trading volume will incur a mere $10 fee or 0.00001%. Furthermore, FOREX.com provides CFDs on various assets, including equities, indices, commodities, and energy.

 

👉 Up to 50x leverage is available on major currency pairings such as EUR/USD, which is advantageous for high-risk traders. FOREX.com is a brand of StoneX Financial Ltd, the NASDAQ-listed parent business of which is StoneX Group.

 

Features

Account FeatureValue
📱 Minimum Deposit Required1,300 BWP equivalent to $100
📉 Average SpreadsFrom 0.2 pips EUR/USD
💻 Commissions ChargedNone, only the spread is charged
📊 Minimum Position Size0.01 lots (micro lots)
📉 Rebates Added2 USD per side up to 100,000 USD
📈 Maximum Leverage Up to 1:200
💵 Margin Level for Hedged/Locked Positions50%
💸 ExecutionNDD and Market Execution
💰 Margin Call25%
👥 Stop-Out Levels15%
🗣 Algorithmic trading offered?Yes
📞 Range of Markets Offered• 36 Forex Pairs
• Indices
• Precious Metals
• Energies
• Cryptocurrencies
• Shares

 

Pros and Cons

✔️ Pros❌ Cons
FOREX.com is one of the top-rated brokers with a high trust score of 99%FOREX.com charges conversion fees of 0.5% if the trader’s deposit and withdrawal currency differ from the base currency of the account
FOREX.com offers over 4,500 financial instruments to traders from around the worldInactivity fees will apply to all dormant accounts
Botswanan traders can choose from three dynamic retail accounts according to their unique trading needs and objectivesFOREX.com does not offer a BWP-denominated account to Botswanans
There are advanced trading tools offered to more experienced traders, including TradingView, Recognia, AutoChartist, and moreThere are only a few deposit and withdrawal options
There is a demo account offered in addition to an Islamic account option
FOREX.com offers commission-free options

3. LiteFinance

Overall Rating

Min Deposit

USD 50 / 669 BWP

Regulators

CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, Web-based

Crypto

Yes

Total Pairs

40

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 The variety of account options and the depth of market data offered to LiteFinance clients make this broker a great choice for novice and experienced traders. In addition, this broker’s competitive pricing results from the built-in markup in the spreads provided across its many asset classes.

 

👉 This has the potential to make trading across different currency pairings less profitable. On the other hand, the total rates LiteFinance offers to traders are extremely low compared to other online brokers.

 

👉 In addition, the customer’s account is credited with a refund of the deposit charge after the funds have cleared.

 

👉 It is important to note that LiteFinance’s two account categories have different pricing structures. For example, spreads might be marked-up, but no commissions are associated with the Classic account.

 

👉 In contrast, a commission fee round trip per lot is applied to the ECN account, designed for professional and institutional customers.

 

Features

Account FeatureValue
📊 Starting SpreadFloating spread from 1.8 pips
💵 Commission charges• $0.25 per share
• $0.5 per Contract on Stock Indices
• $0.5 per lot on Energies
• $10 on Forex Major Pairs
• $20 on Forex Crosses
• $20 on Precious Metals
• $30 on Forex Minor Pairs
• 0.12% on Cryptocurrencies
📈 Trade execution typeMarket Execution
📉 Platform availability• MetaTrader 4
• MetaTrader 5
• LiteFinance Social Trading Platform
• LiteFinance Trading App
✔️ Leverage Ratio OfferedFrom 1:1 to 1:500
💸 Account Base CurrencyUSD, EUR, or MBT
💰 Minimum Deposit660 BWP or an equivalent to $50
☪️ Islamic Account Option Offered?Yes
❌ Negative Balance ProtectionYes
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size100 lots
💸 Maximum Number of Open OrdersUnlimited
📊 Margin Level100%
🛑 Stop-Out 20%
📱 Social Trading Offered?Yes

 

Pros and Cons

✔️ Pros❌ Cons
LiteFinance is well-regulated and compliant with MiFID requirementsVPS is not provided free of charge
Expert analysis is provided through Claws & HornsCommission charges are not the cheapest
There is a market-leading analysis app provided to Botswanan tradersThere is a limited selection of tradable instruments
Dedicated client support offered in several languages

4. AvaTrade

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

Overview

👉 AvaTrade is a popular STP broker with over 300,000 members, offering access to trading in 54 different FX currency pairs, cryptocurrencies, indices, commodities, and more.

 

👉 The EUR/USD currency pair, often considered one of the finest to trade in Forex, is offered with a spread of as little as 0.99 pips. In addition, members of the platform can utilize MetaTrader 4, MetaTrader 5, or the traditional platform.

 

👉 Alternatively, users may download the AvaTradeGO smartphone app. AvaOptions is the brokerage’s proprietary options trading platform and can be used to access CFD options trading.

 

👉 When trading the Euro against the Dollar or any other major FX pairings, high-risk investors have access to leverage of up to 30x.

 

👉 To start trading on AvaTrade, interested parties may use various payment methods, including wire transfers, debit/credit cards, and e-wallets like PayPal, Neteller, Skrill, and more. In addition, you can get started with only a $100 initial investment.

 

Features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
⚖️ CBN Regulation?No
📊 Trading AccountsRetail Investor Account, Professional Account Option
📊 Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💰 Minimum Deposit (BWP)$100 / 41,500 BWP
💰 Trading AssetsForeign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals
🔎 Botswanan Naira-based Account?No
💳 NGN Deposits Allowed?No
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.9 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros ❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the worldVariable spreads are not offered
There is a wide range of financial instruments that can be traded across financial marketsThere is a limited choice between account types
There are several technical indicators, economic indicators, and other solutions for advanced tradersInactivity fees are applied
There are several trading platforms to choose fromCurrency 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 toThere 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.

5. IG

igindex logo sq

Overall Rating

Min Deposit

USD0

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

Overview

👉 IG has been around since 1974 and is now one of the world’s largest online stock brokerage platforms.

 

👉 In addition, several international bodies oversee the platform’s operations, which is a notable feature. On top of all that, the IG Group is publicly traded on the London Stock Exchange (LSE).

 

👉 IG welcomes customers from Botswana and offers a standard spread from 0.1 pips with a fee of 0.10%. IG offers a sample account and accounts compliant with Islamic law, and its highest leverage ratio is 1:200.

 

Features

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

 

Pros and Cons

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

6. FP Markets

Overall Rating

Min Deposit

100 USD/1 229 BWP

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 FP Markets is a CFD and FX broker with extensive business experience. You can access over 10,000 CFD products with raw, tight spreads beginning at 0 pip.

 

👉 The broker’s raw pricing is streamed directly from its top-tier liquidity sources, and customers have access to a vast pool of liquid assets from authorized financial institutions. As a result, FP Markets has a wide variety of liquid assets and fiercely competitive pricing.

 

👉 Through the Traders Hub, FP Markets provides various educational and market analysis tools, such as technical analysis and fundamental analysis articles and videos, trading eBooks, and video lessons.

 

👉 Furthermore, users get access to live help 24 hours a day, 5 days a week, by telephone, email, and live chat.

 

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. 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

 

Features

Account FeatureValue
💰 Minimum Deposit1,700 BWP or an equivalent to AU$200
💻 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 SpreadBetween 0.0 pips and 0.3 pips
💸 CommissionsFrom AU$7 round turn on 100,000 traded
🔃 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

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

👉 HFM is an ECN/STP broker that offers superior market execution and a low-cost trading environment. HFM delivers its trading services according to the relevant licenses that regulate the Forex industry. As a result, HFM provides a reliable service.

 

👉 HFM was created in 2010 with its headquarters in Cyprus, but the broker also offers services in other countries. A comprehensive education department, one of the finest in the business, is among the amazing features.

 

👉 The HFM name is reserved for non-EU traders, while HF Markets (Europe) is their European moniker. Regarding the safety of your cash, they also place great importance.

 

👉 Here, the HF Markets Group will retain your funds in separate accounts regardless of the organization under which you are trading.

 

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 sign up for a practice account within minutesThe HFM App is limited and cannot be used for trading activities
The demo account is unlimited
HFM offers educational materials that are ideal for beginners
The demo account can be used on MT4 and MT5
HFM customer support is available to help Botswanans

How to Choose the Right Forex Broker in Botswana

Forex Broker in Botswana

👉 Botswanan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.

 

Regulations and Licenses

👉 This is the first vital component that Botswanan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.

 

👉 Botswanans must beware when dealing with brokers with only offshore regulations such as FSA, SVG BVI, FSC, and others.

 

Account Features

👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

 

Deposits and Withdrawals

👉 Botswanans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.

 

Range of Markets

👉 The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Botswanans must consider what they wish to trade and what is available.

 

Customer Support

👉 Customer Support is another crucial factor. Botswanans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

 

Trading Platform

👉 A trading platform is the Botswanan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

 

Education and Research

👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk warning on complex instruments

➡️ Educational videos

 

👉 Research can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Price movements

➡️ Market sentiments

➡️ Whether there is a volatile market

➡️ Exchange Rates

➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.

The Best Forex Brokers in Botswana

👉 In this article, we have listed the best brokers that offer forex trading to traders in Botswana. In addition, we have further identified the brokers that offer additional services and solutions to Botswanan traders.

 

Best MetaTrader 4 / MT4 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 5

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, OctaFX is the best MT4 forex broker in Botswana. OctaFX is an MT4 and MT5 broker that provides Botswanans with various markets. OctaFX offers a choice of accounts via MT4, including ECN and STP accounts, with superior trade execution.

 

Best MetaTrader 5 / MT5 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, AvaTrade is the best MetaTrader 5 forex broker in Botswana. In addition, AvaTrade is regarded as one of the most secure MT5 forex brokers.

 

👉 No commission is charged for trading currency pairings, only leaving the spread to be paid. A demo account is also available for traders to sharpen their abilities via MT5 and several other platforms.

 

Best Forex Broker for beginners in Botswana

logo 19

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, FOREX.com is the best forex broker for beginners in Botswana. FOREX.com is a broker renowned for low trading fees and beginner-friendly solutions. In addition, FOREX.com offers several educational materials and a helpful demo account.

 

Best Low Minimum Deposit Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Exness is the best Low Minimum Deposit Forex Broker in Botswana. Exness has a minimum deposit requirement of 10 USD / 130 BWP, making it easy for Botswanans to start trading 278 instruments.

 

👉 Exness also offers MT4 and MT5 through which trades can be made. In addition, it offers some of the best trading tools, charting capabilities, technical indicators, expert advisors, and more.

 

Best ECN Forex Broker in Botswana

Overall Rating

Min Deposit

USD 5

Regulators

CySEC, FSC, CFTC

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, HFM is the best ECN forex broker in Botswana. HFM is a hybrid forex and CFD broker that uses STP and ECN technology to ensure that Botswanans get the best pricing, minimal slippage, no requotes, and the fastest trade execution.

 

👉 HFM uses the best liquidity providers who aggregate the pricing that Botswanans can see on MT4, MT5, and the HF App for Android and iOS.

 

Best Islamic / Swap-Free Forex Broker in Botswana

Overall Rating

Min Deposit

USD 50

Regulators

CySec, FCA 

Trading Desk

None

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

👉 Overall, eToro is the best Islamic / Swap-Free forex broker in Botswana. eToro is a renowned social trading platform that offers Muslim traders an Islamic Account.

 

👉 eToro does not charge any interest on positions held for over 24 hours. However, registering an Islamic Account can be expensive initially, requiring a 1,000 USD / 13,400 BWP deposit.

 

Best Forex Trading App in Botswana

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, CMC Markets is the best forex trading app in Botswana. In addition, CMC Markets offers a user-friendly mobile app with research tools, powerful charts, customizable watch lists, news reports, and a range of educational materials.

 

Best Lowest Spread Forex Broker in Botswana

Overall Rating

Min Deposit

USD 250 / 3 320 BWP

Regulators

FCA, CySEC, IFSC, KNF

Trading Desk

No Trading Desk

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, XTB is the best lowest-spread forex broker in Botswana. XTB is a well-known forex and CFD broker with low and competitive forex spreads from 0.1 pips depending on the financial instrument and the market conditions.

 

👉 XTB is also a good broker in terms of educational materials and research capabilities, providing traders with comprehensive market analysis across markets.

 

Best Nasdaq 100 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10 / 134 BWP

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, FXTM is the best Nasdaq 100 forex broker in Botswana. FXTM is a multi-regulated forex and CFD broker that accommodates Botswanan traders with a keen interest in Nasdaq. Traders can expect low and competitive spreads, a choice between accounts, and powerful trading platforms.

 

Best Volatility 75 / VIX 75 Forex Broker in Botswana

igindex logo sq

Overall Rating

Min Deposit

USD0

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

👉 Overall, IG is Botswana’s best Volatility 75 / VIX 75 forex broker. IG is one of the best CFD brokers with powerful proprietary trading technology.

 

👉 IG is well-regulated and offers Botswanans access to VIX75, with spreads from 0.04 pips / 0.13% and zero commission charges.

 

Best NDD Forex Broker in Botswana

Overall Rating

Min Deposit

$50 / 660 BWP

Regulators

FCA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, FXCM is the best NDD forex broker in Botswana. FXCM is a No-Dealing Desk broker with STP and ECN execution across several markets.

 

👉 In addition, FXCM offers a choice between third-party platforms in addition to technical indicators, charting tools, and competitive trading conditions.

 

Best STP Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, RoboForex is the best STP forex broker in Botswana. RoboForex is popular forex and CFD broker with competitive trading conditions. RoboForex offers STP execution with liquidity sourced from top providers.

 

👉 Botswanans can expect access to over 12,000 instruments via powerful and innovative third-party platforms.

 

Best Sign-up Bonus Broker in Botswana

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

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

Conclusion

👉 Because of the importance of safeguarding your interests as a trader or investor, the top STP brokers will be properly licensed. A properly licensed platform is essential for the security of your trading money and your confidence in your broker.

 

👉 However, you can enter trades in a genuine market if you use an STP broker instead of a market maker. Furthermore, your STP broker gives you access to a wider range of market bids because of the multiple liquidity providers that quote via it.

 

👉 Additionally, your market orders and fills will be performed promptly and precisely. Furthermore, do your homework before making a final decision; brokers and their offerings might vary widely.

 

👉 Therefore, it is smart to ease into investing by making a modest first commitment while you figure things out.

FAQ

What are STP brokers in Botswana?

A Straight Through Processing (STP) broker is a forex brokerage business that supplies institutional traders with wholesale forex services orders. The STP broker was created by an exchange between two global leaders in retail customer service and reputable trading organizations.

 

How are STP and ECN brokers different?

ECN brokers are seen as more transparent. STP brokers may route orders to any of their liquidity providers, including banks and interbank exchanges.

 

How do STP brokers make money in Botswana?

There are several methods through which an STP brokerage might generate a profit. For example, the broker could charge customers a commission ($X per million), add a markup to the price feed, or both.

 

Is an STP account a good choice for Botswanan traders?

One of the primary benefits of STP brokers is that orders are completed more rapidly, and trade execution is smooth, allowing traders to take advantage of market circumstances without broker intervention.

 

Is HFM an STP or ECN broker?

HFM employs a hybrid STP and ECN approach and offers execution models to traders through its flexible account types.

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.

Rate this article.

Table of Contents