10 Best Forex brokers in Zimbabwe
Forex trading in Zimbabwe presents numerous opportunities to profit off of the vast and lucrative Forex market, however, the most important first step in a successful Forex career is signing up with a reputable broker.
A Forex broker which is regulated, offers competitive pricing, and gives a comprehensive range of trading features will give you the edge in your Forex trading efforts.
In this article we have selected the 10 best Forex brokers in Zimbabwe which stand out for their excellent offering and their sound regulation.
Khwezi Trade
Overview
Disclaimer: Khwezi Trade does not currently offer trading services in Zimbabwe, but looking to do so in the near future. Khwezi can however facilitate Zimbabweans who have a South African bank account.
Khwezi Trade is a popular South African Forex broker that is regulated by the Financial Sector Conduct Authority (FSCA) (FSP: 44816).
Khwezi Trade offers a comprehensive range of trading instruments, including 39 currency pairs, 11 indices, and seven commodities.
Trading at is facilitated on the MetaTrader 4 platform, which is the gold standard for trading software in the Forex markets today, while the broker also offers several other useful trading tools, including the Flexi Analysis and Dynamic Outcomes features.
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 |
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 |
XTB
Overview
XTB is a Forex, CFD, and cryptocurrency broker that was established in 2002. With its headquarters located in Poland, XTB is a global brokerage firm.
XTB has been a Forex broker for 18 years and has earned various industry awards. Traders can choose from 1,500 products and more than 50 currency pairings at XTB. Aside from the Xstation5, XTB offers the renowned MT4 forex trading platform to its clients.
Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Low trading fees | High stock CFDs |
| Free deposit and withdrawal | Limited asset portfolio |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 KNF, FCA, CySEC and IFSC |
| 💵. Minimum deposit from | 💰 $250 / 4000 ZAR |
| ⚖️ Average spread from | 👉 1.02 pips |
| 📈 Commissions from | 📈 0.08% of trade value with $8 / 128 ZAR minimum |
| 💸 Deposit/Withdrawal Fees | 🙅 $30 / 480 ZAR on withdrawals of less than $50 / 800 ZAR |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 $40 / 640 ZAR No Deposit Bonus |
| ❓ Customer Support | 🏪 24/5 |
Pepperstone
Overview
Online broker Pepperstone was created in 2010 and provides Forex, CFDs, and Social Trading services to clients worldwide. Reputable organizations with a head office in Australia control and manage Pepperstone.
To get started trading with Pepperstone, traders must make a deposit of at least $200 in order to register an account, although they can do so with a demo account first.
It is possible for Pepperstone to accommodate traders of all levels, whether they are seasoned or just beginning. Over a hundred instruments and more than seventy currency pairs are available to traders.
Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Negative balance protection offered | Fixed spreads are not offered |
| Range of funding options provided | |
| Social trading supported on powerful and versatile trading platforms | |
| Welcomes all types of traders | |
| Welcomes all types of trading strategies | |
| Offers a wide range of markets |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin |
| 💵. Minimum deposit from | 💰 $0 / 0 ZAR |
| ⚖️ Average spread from | 👉 0 pips |
| 📈 Commissions from | 📈 No commission on Forex |
| 💸 Deposit/Withdrawal Fees | 🙅. No |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 No |
| ❓ Customer Support | 🏪 24/5 |
FP Markets
Overview
Since its inception in 2005, Forex trading has been offered by FP Markets, which has its headquarters in Australia.
FP Markets offers a demo account with a wide range of instruments and currency pairs for traders who are just getting started. A $100 deposit is required.
There are more than 100 instruments and more than 60 currency pairings available on the MT4 forex trading platform. Additionally, FP Markets provides Android and iOS mobile apps for traders.
Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| Low forex fees | High stock CFD Fees |
| Streamlined and fast account opening process | Limited product portfolio |
| Fast processing for deposits and withdrawals |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 Australian ASIC, Cypriot CySEC, SCB |
| 💵. Minimum deposit from | 💰 $100 / 1600 ZAR |
| ⚖️ Average spread from | 👉 0.5 pips |
| 📈 Commissions from | 📈 $55 monthly commission for IRESS Trader users only |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:500 |
| 🤑 Bonuses | 💰 $30 / 480 ZAR welcome bonus |
| ❓ Customer Support | 🏪 24/7 |
XM
Overview
Founded in 2009, XM is an online broker that specializes in both forex and contracts for difference (CFD) trading. There is a minimum deposit of USD5 required to open a trading account with XM, which is based in Cyprus.
Whether you’re a seasoned trader or just getting started, XM accommodates a wide range of trading styles and levels of experience.
Over 100 instruments and more than 80 currency pairings are available for trading by investors. With XM, you have access to MT4 and MT5, as well as mobile apps for iOS and Android.
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Low minimum deposit | Inactivity fee charged after 90 days on live accounts |
| Comprehensive educational offering | Limited product portfolio |
| Streamlined account opening process |
Features
| 👉 Feature | ℹ️ 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 |
AvaTrade
Overview
AvaTrade is a global broker headquartered in Dublin that offers Forex, CFDs, spread betting, and social trading. AvaTrade was established in 2006 and has offices throughout the world.
AvaTrade requires a minimum deposit of US Dollar 250 to open an account, and a trial account is accessible for individuals who wish to get a feel for the popular MT4 forex trading platform before making a deposit. Mobile apps for Android and iOS are also available from AvaTrade.
With AvaTrade, beginners and experienced traders alike may trade a wide range of assets and currency pairs.
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 | 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 |
Forex.com
Overview
When you first sign up with Forex.com in 1999, you’ll need to put down a deposit of at least $500 to get started trading in currency pairs including the US dollar, the euro, and several commodities like gold and silver.
Depending on the asset and the trader, Forex.com has a wide range of trading features, and all accounts are available in a wide range of languages, such as English, Mandarin Chinese, and Arabic.
Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| One of the best international brokers with multi-regulations | Inactivity fees are charged |
| Offers a choice in complex instruments along with various trade sizes and instant execution | |
| Commission-free retail accounts are offered along with instant deposits and withdrawals | |
| Powerful trading tools are offered to experienced traders | |
| TradingView provided in addition to other advanced trading tools | |
| An execution scorecard is provided, ensuring a guaranteed execution policy |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS |
| 💵. Minimum deposit from | 💰 $100 / 1 600 ZAR |
| ⚖️ Average spread from | 👉 1.5 pips |
| 📈 Commissions from | 📈 $5 / 80 ZAR commission per 100K traded |
| 💸 Deposit/Withdrawal Fees | 🙅. Not indicated |
| ⚖️ Maximum Leverage | ⚖️ 1:50 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/5 |
FxPro
Overview
Since its inception in 2006, FxPro has offered a wide range of trading options for investors throughout the world.
With FxPro, traders get access to top-tier liquidity and advanced trade execution without the need for a dealing desk, and a $100 deposit is required to open an account.
MetaTrader 4 and MetaTrader 5 platforms, as well as cTrader and mobile apps for Android and iOS, are all available through FxPro, making it a rare broker in the industry.
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Mobile trading platform offered for Android and iOS mobile traders | Managed accounts are not available |
| VPS is provided through Beeksfx to ensure that active traders remain connected to financial markets | Social trading opportunities are not provided ye |
| FxPro applies an NDD execution policy and model to ensure accurate and competitive pricing | |
| Expert analysis is provided by Trading Central and there is an economic calendar that traders can use to keep an eye on economic events | |
| Premium trader tools and a range of educational materials offered |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 FSCA, CySEC |
| 💵 Minimum deposit from | 💰 $100 / ZAR R1600 |
| ⚖️ Average spread from | 👉 0.37 pips |
| 📈 Commissions from | 📈 $45 / ZAR R720 per million USD traded |
| 💸. Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:30 |
| 🤑 Bonuses | 💰 N/A |
| ❓ Customer Support | 🏪 24/7 |
OctaFX
Overview
Founded in 2011, OctaFX is a global online broker that provides Forex trading with a minimum deposit of USD5.
There is also a demo account available for people who want to familiarize themselves with the OctaFX platform. This includes both the MT4 and MT5 platforms, as well as the cTrader platform. Mobile apps for Android and iOS are also available from OctaFX.
Since its inception, OctaFX has earned multiple industry awards for its ability to accommodate a wide range of traders. CFD instruments at OctaFX are free of commission.
Pros and Cons
| ✔ Pros | ❌ Cons |
|---|---|
| More than 30 forex pairs available | No Forex educational tools |
| Well-regulated | No VPS available |
| Ultra-fast execution |
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 |
Markets.com
Overview
Markets.com was created in 2008 and specializes in Forex, CFDs, and Spread Betting. Only clients in the United Kingdom can only place spread bets with Markets.com, which is based in Cyprus. Markets.com provides both the MT4 and MT5 platforms, as well as Android and iOS mobile apps.
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Markets.com is a broker with a high trust score that offers ZAR as the base currency and deposit currency | A high minimum deposit is required when traders register a live account with Markets.com |
| User-friendly trading technology supported with a proprietary mobile app | An inactivity fee is charged on dormant accounts |
| A tight average spread is offered on forex major pairs | |
| Commission-free trading is provided | |
| There are no deposit fees or withdrawal fees charged | |
| Caters for all trading styles and trading strategies |
Features
| 👉 Feature | ℹ️ Information |
|---|---|
| 👮♂️ Regulation | 👉 FSCA |
| 💵 Minimum deposit from | 💰 $100 / ZAR R1 600 |
| ⚖️ Average spread from | 👉 1.9 pips |
| 📈 Commissions from | 📈 $0 / ZAR R0 |
| 💸 Deposit/Withdrawal Fees | 🙅 None |
| ⚖️ Maximum Leverage | ⚖️ 1:300 |
| 🤑 Bonuses | 💰 Yes |
| ❓ Customer Support | 🏪 24/7 |
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
