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5 Best Regulated Forex Brokers in Botswana

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