5 Best Regulated Forex Brokers in Botswana
Botswana has a thriving economy and many young people are taking advantage of this to engage in the foreign exchange market.
Forex trading newbies should open an account with a reputable broker that provides a secure trading platform and educational materials. In this article, we have compiled a list of the top 5 regulated Forex brokers in Botswana.
1. AvaTrade
Overview
When it comes to Forex trading in Botswana, a reliable broker that makes copy trading simple to implement is AvaTrade. Those who want to trade manually can use either the mobile app AvaTradeGo or the widely used desktop program MetaTrader4 (MT4).
Pros and Cons
PROS | CONS |
Broad range of tradable instruments | High EURUSD and inactivity fees |
MetaTrader 4 and 5 available | |
Excellent educational resources |
Features
Feature | Information |
Regulation | Central Bank of Ireland, MiFID, ASiC, BVI |
Minimum deposit from | $100 |
Average spread from | 0.9 pips |
Commissions from | No commission on Forex |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:400 |
Bonuses | First Deposit Bonus |
Customer Support | 24/5 – multilingual |
2. Exness
Overview
Exness is widely recognized as one of the best Forex brokers in Botswana, therefore when prospective traders in the country establish an account with them, they offer them a Forex no deposit bonus, according to this Exness review.
Pros and Cons
PROS | CONS |
Well-regulated | |
Tight spreads | |
Over 130 currency pairs |
Features
Feature | Information |
Regulation | CySEC, FCA |
Minimum deposit from | $1 |
Average spread from | 1.3 pips |
Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:2000 |
Bonuses | Standard +10% Bonus Programme |
Customer Support | 24/5 – multilingual |
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3. OctaFX
Overview
OctaFX is a foreign exchange (Forex) broker that uses an electronic communication network (ECN) to enable CFD trading on a large selection of underlying assets. OctaFX provides its users with a wide variety of trading accounts, as well as sophisticated research tools, copy trading, bonus promotions, and more.
Pros and Cons
PROS | CONS |
Ultra-fast execution | No VPS available |
More than 30 forex pairs available
Well-regulated
|
No Forex educational tools |
Features
Feature | Information |
Regulation | CySEC |
Minimum deposit from | $100 |
Average spread from | 0.7 pips |
Commissions from | None |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | 50% Deposit Bonus |
Customer Support | 24/5 |
4. Pepperstone
Overview
With its inception in 2010, Pepperstone has expanded rapidly since its inception. Benefits for CFD and FX traders include cheap spreads, quick assistance, and multiple third-party platforms, some of which allow for social copy trading.
Pros and Cons
Pros
No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits
|
Cons
Limited number of instruments No additional research tools
|
Features
Feature | Information |
Regulation | FCA, ASIC |
Minimum deposit from | AUD200 |
Average spread from | 0.4 pips |
Commissions from | $3.76 commission per lot per trade |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/5 |
5. XM
Overview
XM is a well-known brand in the industry of foreign exchange. Trading on XM’s enhanced MetaTrader 4 and MetaTrader 5 platforms gives you access to thousands of assets at competitive prices.
Pros and Cons
Pros
Low minimum deposit Comprehensive educational offering Streamlined account opening process
|
Cons
Inactivity fee charged after 90 days on live accounts Limited product portfolio
|
Features
Feature | Information |
Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
Minimum deposit from | $5 |
Average spread from | 0.1 pips |
Commissions from | $3.5 commission per $100 000 traded |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:30 |
Bonuses | $30 Trading Bonus |
Customer Support | 24/5 |