PROS CONS
Khwezi Trade is an authorised FSP with FSCA regulation and an ODP license Limited funding and withdrawal methods
Well-regulated and highly trusted broker for Namibian traders Limited Forex pairs that can be traded
MetaTrader 4 offered through which trades in several financial instruments can be carried out Individual stock trading is not offered
There is a wide range of trading tutorials provided
Market analysis offered and the benefit of negative balance protection and competitive trading conditions
Perfect broker for beginner and experienced traders
PROS CONS
OctaFX is a trusted forex broker regulated by the Cyprus Securities and Exchange Commission (CySEC) US and UK clients are not accepted
Tight and competitive spreads are offered across retail trading accounts
A range of financial instruments are available for trading
Trusted forex broker providing forex traders with access to the best trading software, excellent customer service, and low commission charges on trades
MT4’s forex trading platform is available for use across several devices
Flexible funding options are offered for deposits and withdrawals
PROS CONS
eToro is the industry’s top social trading platform and one of the most reputable brokers in the world with regulation with major regulators MetaTrader 4 is not supported
Numerous financial instruments are available for trading, including various FX pairs and CFDs on a variety of asset classes. There is a high minimum deposit requirement
eToro is the perfect social platform for active traders because of its fast-paced environment There is no live chat support provided
Competitive average spreads are offered to active traders Inactivity fees are applied
Provides retail traders of all trading experience levels a plethora of trading opportunities Scalping and hedging trading strategies are not allowed
PROS CONS
HotForex is one of the leading online brokers, accepting traders of all experience levels MetaTrader-only broker with no proprietary trading platforms
Well-regulated by several financial market regulators Fixed spreads are not offered
The broker provides a wide range of complex instruments spread across several asset classes
Tight spreads, low commission charges on all retail investor accounts
Versatile funding options including bank wire transfer, credit cards, debit cards, and several others
PROS CONS
Well-regulated broker that accepts all types of traders from around the world There is an inactivity fee charged on dormant accounts
Regulation and authorization with the Cyprus Securities and Exchange Commission, amongst other major regulators
Traders can expect tight spreads and a range of complex instruments across several asset classes
Mobile apps are offered for trading activities while on the move
PROS CONS
Well-regulated by CySEC and has a high trust score Fixed spread accounts are not offered
Client funds are kept in segregated accounts with top-tier banks Limited maximum leverage is applied for certain regions
Member of an Investor Compensation Fund and provides investor protection
Reasonable minimum deposit requirement and competitive rates charged
Variety of instruments that can be traded across different global markets
PROS CONS
Competitive rates are charged across several account options, ensuring that traders get the best trading conditions Unregulated broker
Range of markets offered MetaTrader is not supported
Perfect for trading forex, CFDs, and other markets There are several countries excluded from service
PROS CONS
Well-regulated by several entities across the world, with a high trust score that has been earned Variable spreads are not offered
Commission-free trading offered The fixed spreads are not the tightest in the industry
Tight and fixed spreads offered on the retail trading account
Fast and reliable trade execution policy
Multi-award-winning broker with a high level of trustworthiness
Deposit fees and withdrawal fees are not charged
PROS CONS
Managed accounts are provided (PAMM) Fixed spreads are not offered
Well-regulated broker with a high level of trustworthiness A limited selection of trading instruments are available
Member of a Financial Commission, ensuring that traders have investor protection Lack of educational materials
Customer service is available in more than 30 languages
Trading signals are provided through AutoChartist
PROS CONS
Ultra-low minimum deposit requirement when Namibian traders register an account Unregulated broker
Market News and analysis offered in addition to advanced trading tools
Proprietary trading platform offered with a plethora of features
Educational materials are provided

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.