10 Best Forex Brokers in Namibia

Finding and comparing forex brokers that accept Namibian clients may be a time-consuming and laborious procedure, particularly given that hundreds of brokers provide a diverse range of trading solutions and services.

When traders analyze brokers, they must examine numerous criteria such as their regulation, fund security, account kinds, fees and spreads, deposit, and withdrawal methods, and so on.

To make the assessment and selection process easier, we have provided a comprehensive list of the 10 best Namibia forex brokers.

Khwezi Trade

khwezi trade

Khwezi Trade, which was founded in 2013.

Khwezi Trade is a well-regulated South African broker that uses the MetaTrader 4 platform, which can be accessed over the web or downloaded to PCs and mobile devices.

Khwezi Trade has a wide range of tradable products and implements the latest trading technology to allow ultra-fast trade execution, which ensures that orders from South African traders are executed quickly and at the best possible prices.

Over the past few years, Khwezi Trade has won many awards, including the Global Brands Magazine’s Best Broker in South Africa for 2019 and 2020 and the Best Broker in the African Market in 2020 and 2021.

Khwezi Trade Pros and Cons


โœ” Pros โŒ Cons
Trusted forex broker with regulation through the Financial Sector Conduct AuthorityNo crypto deposits accepted
Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensingThere are limited account base currency options
Khwezi Trade is an authorised FSP and ODP in South AfricaUS clients are not accepted
Traders are provided access to powerful trading technology
Competitive spreads are offered
There is a decent maximum leverage ratio offered

Khwezi Trade features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘ FSCA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ ZAR500
โš–๏ธ Average spread from๐Ÿ‘‰ 0,6 pips
๐Ÿ“ˆ Commissions fromN/A
๐Ÿ’ธ Deposit/Withdrawal FeesN/A
โš–๏ธ Maximum Leverageโš–๏ธ. 1:400
๐Ÿค‘ Bonuses๐Ÿ‘ 30%
โ“ Customer Support๐Ÿช. 24/5

OctaFX

OctaFX-Logo

OctaFX was founded in 2011 and is a well-regulated STP and ECN broker based in Saint Vincent and the Grenadines.

The company has a worldwide presence and offers complete trading solutions to both novice and expert traders.

OctaFX enables traders to trade a broad selection of forex and contract for difference (CFD) assets.

Trading costs are reasonable, powerful trading tools are available, and professional customer service is available in a variety of languages, including English, German, Spanish, and many more.

Namibian novice traders have access to a variety of instructional tools designed to assist them in navigating complicated financial markets and trading products.

Traders can expect competitive variable spreads, negative balance protection for retail accounts, and a lot more, too.

OctaFX Pros and Cons


โœ” Pros โŒ Cons
More than 30 forex pairs availableNo Forex educational tools
Well-regulatedNo VPS available
Ultra-fast execution

OctaFX features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.7 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ None
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ 50% Deposit bonus
โ“ Customer Support๐Ÿช 24/5

eToro

Etoro-Logo

eToro was established in 2006.

eToro is one of the most transparent market makers in the industry.

eToro is one of the world’s most popular online brokers, in addition to being the world’s biggest social trading platform.

eToro has been a market leader in terms of comprehensive trading solutions and competitive trading conditions.

When Namibian traders use the services of eToro, they may simply get a competitive advantage in their trading.

eToro Pros and Cons


โœ” Pros โŒ Cons
Advanced copy trading softwareHigh withdrawal fees
Low minimum depositHigh trading fees for forex
No deposit feesOnly one base currency available for accounts

eToro features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA, ASIC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $50 / 800 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.75 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on stocks and ETFs
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… $5 / 80 ZAR
โš–๏ธ Maximum Leverageโš–๏ธ 1:30
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

HotForex

HotForex-Logo

HotForex was established in 2010.

HotForex is one of the most adaptable and popular online brokers, regulated by several renowned regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the FSCA, and several more.

HotForex is well-known for its narrow variable spreads, commission-free trading options, many retail client accounts, and diverse selection of financial instruments.

Apart from its competitive trading conditions, HotForex provides both the popular MT4 and MetaTrader 5 forex trading platforms.

HotForex also provides swap-free accounts, negative balance protection, and low commissions on trades.

HotForex Pros and Cons


โœ”๏ธ ProsโŒ Cons
Commission-free trading offered along with a ZAR accountFixed spreads are not provided
Education materials are provided along with an economic calendar, and other tools
Loyalty program, deposit bonuses, and other promotions offered
Tight average spread is offered on major currencies such as EUR/USD

HotForex features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $5 / ZAR R80
โš–๏ธ Average spread from๐Ÿ‘‰ 0.0 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $3 / ZAR R48
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:1000
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

FXTM

FXTM-Logo

FXTM was founded in 2011 and is one of the best international brokers with operations in Namibia and numerous other African countries, including South Africa, Nigeria, and others.

FXTM enables traders to trade complex assets distributed across many financial markets, including forex, CFDs, stocks, and indices.

FXTM has no minimum deposit and provides flexible spreads, as well as the famous MT4 forex trading platform.

FXTM is regulated by several different authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and others.

FXTM caters to all sorts of forex traders, offering clear trading costs, cheap commissions, and customer service in several languages, including English, Vietnamese, Polish, and Spanish.

FXTM Pros and Cons


โœ” Pros โŒ Cons
Offers more than 250 financial instrumentsInactivity fees charged on dormant accounts
Offers a choice between retail investment accounts
Commission-free trading options are offered
Requires a low minimum deposit
Dedicated and multilingual customer support offered
Perfect broker for beginners

FXTM features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC, FCA, FSC, FSCA
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $10 / 160 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.1 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on Forex
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. Deposit fees no, withdrawal fees yes
โš–๏ธ Maximum Leverageโš–๏ธ 1:2000
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

IQ Option

iq options broker logo

IQ Option was established in 2014.

IQ Option is one of the most popular online brokers that operate according to a Market Maker business model.

IQ Option is well-regulated with the Cyprus Securities and Exchange Commission, which is one of the most reputable financial market regulators in the world.

IQ Option offers traders from around the world some of the best trading conditions.

IQ Option offers a variety of instruments that can be traded through powerful proprietary trading platforms available to beginner and advanced traders.

IQ Option Pros and Cons


โœ” Pros โŒ Cons
IQ Option is a reputable broker for beginners with the necessary regulations from a reputable regulation authorityRestricted maximum leverage for non-professional traders
Segregated accounts in which client funds are heldFixed spreads are not offered
Offers a wide range of assets that can be traded using different trading strategies
Transparent and low broker fees charged
Advanced trading tools are offered to advanced traders as well as high-volume traders
Offers transparent swap rates, reasonable margin requirements, and a powerful proprietary trading platform

IQ Option features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CySEC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $10 / 1 60 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.6 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ None
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. None
โš–๏ธ Maximum Leverageโš–๏ธ 1:1000
๐Ÿค‘ Bonuses๐Ÿ’ฐ No
โ“ Customer Support๐Ÿช 24/7

ExpertOption

expertoption broker logo

ExpertOption is a Saint Vincent and the Grenadines-based STP trading broker.

With an affordable minimum deposit requirement that offers traders access to a diverse variety of tradable instruments ranging across many asset classes.

ExpertOption’s primary objective is to provide traders with the greatest trading circumstances possible, which they may access through a robust proprietary trading platform.

ExpertOption also provides a variety of trading accounts and innovative traders’ mobile applications.

ExpertOption Pros and Cons


โœ” Pros โŒ Cons
Regulated by VFSCMetaTrader is not supported
Competitive rates are charged across several account options, ensuring that traders get the best trading conditionsThere are several countries excluded from service
Range of markets offered
Perfect for trading forex, CFDs, and other markets

ExpertOption features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ VFSC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $10 / 160 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.09 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $5 / 80 ZAR on any winning trade
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

AvaTrade

Avatrade-Logo

AvaTrade is one of the world’s most prominent online brokers.

AvaTrade is well-regulated by several renowned major authorities in each region and the forex broker offers its comprehensive trading solutions.

AvaTrade provides some of the greatest trading conditions in the world.

Access to a variety of trading technologies and markets, including spot indices, FX, CFDs, options, and stocks.

AvaTrade’s competitive trading conditions are made possible by a portfolio of robust trading platforms, including MetaTrader and AvaTradeโ€™s unique trading technology.

AvaTrade Pros and Cons


โœ” PROSโŒ CONS
Broad range of tradable instrumentsHigh EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

AvaTrade features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ Central Bank of Ireland, MiFID, ASiC, BVI
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100
โš–๏ธ Average spread from๐Ÿ‘‰ 0.9 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on Forex
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. None
โš–๏ธ Maximum Leverageโš–๏ธ 1:400
๐Ÿค‘ Bonuses๐Ÿ’ฐ First Deposit Bonus
โ“ Customer Support๐Ÿช 24/5 โ€“ multilingual

Alpari

Alpari-Logo

Alpari was established in 2008.

Alpari is a well-regulated and well-known forex broker, with offices in several different areas.

Alpari is well-known for its adaptable trading solutions, high leverage ratios, variety of investor accounts, and sophisticated trading technology.

Alpari offers some of the finest trading conditions in the industry and provides help in a variety of languages.

Namibian traders may be certain that they will get tailor-made solutions that meet their trading goals and ambitions when dealing with Alpari.

Alpari Pros and Cons


โœ” Pros โŒ Cons
The minimum deposits required are ultra-low and competitiveLimited range of assets offered
There are low commissions on forex trading
High maximum leverage offered as well as tight average spread
Provides a choice between powerful trading platforms
Offers ZAR trading standard accounts
Offers dedicated customer service

Alpari features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FSCM
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1 600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.9 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ Yes
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… Yes
โš–๏ธ Maximum Leverageโš–๏ธ 1:400
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

Olymp Trade

olymptrade broker logo

Olymp Trade was founded in 2014.

Olymp Trade is a prominent forex broker that uses the MetaTrader 4 trading platform to provide comprehensive trading conditions, instructional resources, trading signals, and competitive market analysis.

Olymp Trade has over 200,000 registered traders and daily trading volumes are strong on the broker’s unique trading platform.

Olymp Trade has received several industry accolades for providing some of the finest trading solutions and prices in the market.

Olymp Trade Pros and Cons


โœ” Pros โŒ Cons
Ultra-low minimum deposit requirement when Namibian traders register an account
Market News and analysis offered in addition to advanced trading tools
Proprietary trading platform offered with a plethora of features
Educational materials are provided

Olymp Trade features


๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ IFC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $10 / 160 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ N/A
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ 0.8% – 15%
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:400
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/7

Frequently Asked Questions

Yes, forex trading is a legal activity in Namibia and there are many forex traders based in the country who actively participate in trading foreign currencies.

When evaluating a forex broker’s trust, you must consider their regulation, trade execution methods, client fund management, and the industry recognition that they have received for achievements.

Registering an account that is denominated in local currency is ideal, but not always possible. If the forex broker that you chose offers NAD as the base currency, it would save you money on currency conversion fees when you trade and deposit funds.

You need to find a broker that is aligned with your unique needs, evaluate their offering and regulation, register an account, use demo trading and educational resources, and start trading once you are ready.

Market makers provide a market for their traders, and they are the counterparty that trade against their traders, allowing for liquidity to be created to execute trades.

Further reading:

7 Best Forex Brokers in South Africa with Sign-Up Bonus

10 Best Forex Brokers for Beginners

10 Best Forex Brokers in Namibia

10 Best Forex Brokers in SA with ZAR Deposits

11 Best Forex Brokers in South Africa with Demo Accounts

11 Best Forex Brokers in South Africa with Low Spreads

11 Best Forex Brokers in South Africa with MetaTrader 4

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