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, 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
| ✔ Pros | ❌ Cons |
|---|---|
| Trusted forex broker with regulation through the Financial Sector Conduct Authority | No crypto deposits accepted |
| Khwezi Trade is an industry-leading broker and is one of the first non-bank entity to receive OTC licensing | There are limited account base currency options |
| Khwezi Trade is an authorised FSP and ODP in South Africa | US 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👍 FSCA |
| 💵 Minimum deposit from | 💰 ZAR500 |
| ⚖️ Average spread from | 👉 0,6 pips |
| 📈 Commissions from | N/A |
| 💸 Deposit/Withdrawal Fees | N/A |
| ⚖️ Maximum Leverage | ⚖️. 1:400 |
| 🤑 Bonuses | 👍 30% |
| ❓ Customer Support | 🏪. 24/5 |
OctaFX
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
| ✔ Pros | ❌ Cons |
|---|---|
| More than 30 forex pairs available | No Forex educational tools |
| Well-regulated | No VPS available |
| Ultra-fast execution |
OctaFX features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC |
| 💵. Minimum deposit from | 💰 $100 / 1600 ZAR |
| ⚖️ 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 |
eToro
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
| ✔ Pros | ❌ Cons |
|---|---|
| Advanced copy trading software | High withdrawal fees |
| Low minimum deposit | High trading fees for forex |
| No deposit fees | Only one base currency available for accounts |
eToro features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC, FCA, ASIC |
| 💵. Minimum deposit from | 💰 $50 / 800 ZAR |
| ⚖️ Average spread from | 👉 0.75 pips |
| 📈 Commissions from | 📈 No commission on stocks and ETFs |
| 💸 Deposit/Withdrawal Fees | 🙅 $5 / 80 ZAR |
| ⚖️ Maximum Leverage | ⚖️ 1:30 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
HotForex
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
| ✔️ Pros | ❌ Cons |
|---|---|
| Commission-free trading offered along with a ZAR account | Fixed 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC, FCA, DFSA, FSA, FSCA, CNMV, BaFin |
| 💵 Minimum deposit from | 💰 $5 / ZAR R80 |
| ⚖️ Average spread from | 👉 0.0 pips |
| 📈 Commissions from | 📈 $3 / ZAR R48 |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:1000 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
FXTM
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
| ✔ Pros | ❌ Cons |
|---|---|
| Offers more than 250 financial instruments | Inactivity 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC, FCA, FSC, FSCA |
| 💵. Minimum deposit from | 💰 $10 / 160 ZAR |
| ⚖️ Average spread from | 👉 0.1 pips |
| 📈 Commissions from | 📈 No commission on Forex |
| 💸 Deposit/Withdrawal Fees | 🙅. Deposit fees no, withdrawal fees yes |
| ⚖️ Maximum Leverage | ⚖️ 1:2000 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
IQ Option
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
| ✔ Pros | ❌ Cons |
|---|---|
| IQ Option is a reputable broker for beginners with the necessary regulations from a reputable regulation authority | Restricted maximum leverage for non-professional traders |
| Segregated accounts in which client funds are held | Fixed 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CySEC |
| 💵. Minimum deposit from | 💰 $10 / 1 60 ZAR |
| ⚖️ Average spread from | 👉 0.6 pips |
| 📈 Commissions from | 📈 None |
| 💸 Deposit/Withdrawal Fees | 🙅. None |
| ⚖️ Maximum Leverage | ⚖️ 1:1000 |
| 🤑 Bonuses | 💰 No |
| ❓ Customer Support | 🏪 24/7 |
ExpertOption
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
| ✔ Pros | ❌ Cons |
|---|---|
| Regulated by VFSC | MetaTrader is not supported |
| Competitive rates are charged across several account options, ensuring that traders get the best trading conditions | There are several countries excluded from service |
| Range of markets offered | |
| Perfect for trading forex, CFDs, and other markets |
ExpertOption features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 VFSC |
| 💵. Minimum deposit from | 💰 $10 / 160 ZAR |
| ⚖️ Average spread from | 👉 0.09 pips |
| 📈 Commissions from | 📈 $5 / 80 ZAR on any winning trade |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
AvaTrade
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 AvaTrade’s unique trading technology.
AvaTrade Pros and Cons
| ✔ PROS | ❌ CONS | ||
|---|---|---|---|
| Broad range of tradable instruments | High EURUSD and inactivity fees | ||
| MetaTrader 4 and 5 available | |||
| Excellent educational resources |
AvaTrade features
| 👉 Feature | ℹ️ 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 |
Alpari
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
| ✔ Pros | ❌ Cons |
|---|---|
| The minimum deposits required are ultra-low and competitive | Limited 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 FSCM |
| 💵. Minimum deposit from | 💰 $100 / 1 600 ZAR |
| ⚖️ Average spread from | 👉 0.9 pips |
| 📈 Commissions from | 📈 Yes |
| 💸 Deposit/Withdrawal Fees | 🙅 Yes |
| ⚖️ Maximum Leverage | ⚖️ 1:400 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
Olymp Trade
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
| ✔ Pros | ❌ 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
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 IFC |
| 💵. Minimum deposit from | 💰 $10 / 160 ZAR |
| ⚖️ Average spread from | 👉 N/A |
| 📈 Commissions from | 📈 0.8% – 15% |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:400 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 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
