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

khwezi tradeOverview

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

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

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

XTB

XTB-LogoOverview

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

โœ” Pros โŒ Cons
Low trading feesHigh stock CFDs
Free deposit and withdrawalLimited asset portfolio

Features

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ KNF, FCA, CySEC and IFSC
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $250 / 4000 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 1.02 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ 0.08% of trade value with $8 / 128 ZAR minimum
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… $30 / 480 ZAR on withdrawals of less than $50 / 800 ZAR
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ $40 / 640 ZAR No Deposit Bonus
โ“ Customer Support๐Ÿช 24/5

Pepperstone

Pepperstone-LogoOverview

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

โœ” Pros โŒ Cons
Negative balance protection offeredFixed 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

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FCA, ASIC, DFSA, CySEC, CMA, SCB, BaFin
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $0 / 0 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ No commission on Forex
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. No
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ No
โ“ Customer Support๐Ÿช 24/5

FP Markets

fpmarkets-brokers-logoOverview

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

โœ” Pros โŒ Cons
Low forex feesHigh stock CFD Fees
Streamlined and fast account opening processLimited product portfolio
Fast processing for deposits and withdrawals

Features

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ Australian ASIC, Cypriot CySEC, SCB
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 0.5 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $55 monthly commission for IRESS Trader users only
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:500
๐Ÿค‘ Bonuses๐Ÿ’ฐ $30 / 480 ZAR welcome bonus
โ“ Customer Support๐Ÿช 24/7

XM

XM-LogoOverview

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

โœ”๏ธ ProsโŒ Cons
Low minimum depositInactivity fee charged after 90 days on live accounts
Comprehensive educational offeringLimited product portfolio
Streamlined account opening process

Features

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ IFSC, ASIC, CySEC, FCA and DFSA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $5
โš–๏ธ Average spread from๐Ÿ‘‰ 0.1 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $3.5 commission per $100 000 traded
๐Ÿ’ธ. Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:30
๐Ÿค‘ Bonuses๐Ÿ’ฐ $30 Trading Bonus
โ“ Customer Support๐Ÿช 24/5

AvaTrade

Avatrade-LogoOverview

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

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

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“ˆCommissions fromNo commission on Forex
๐Ÿ’ธDeposit/Withdrawal FeesNone
โš–๏ธ Maximum Leverage1:400
๐Ÿค‘ BonusesFirst Deposit Bonus
โ“ Customer Support๐Ÿช 24/5 โ€“ multilingual

Forex.com

Forexcom-LogoOverview

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

โœ” Pros โŒ Cons
One of the best international brokers with multi-regulationsInactivity 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

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS
๐Ÿ’ต. Minimum deposit from๐Ÿ’ฐ $100 / 1 600 ZAR
โš–๏ธ Average spread from๐Ÿ‘‰ 1.5 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $5 / 80 ZAR commission per 100K traded
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™…. Not indicated
โš–๏ธ Maximum Leverageโš–๏ธ 1:50
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 24/5

FxPro

FXPro-LogoOverview

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

โœ”๏ธ ProsโŒ Cons
Mobile trading platform offered for Android and iOS mobile tradersManaged accounts are not available
VPS is provided through Beeksfx to ensure that active traders remain connected to financial marketsSocial 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

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FSCA, CySEC
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $100 / ZAR R1600
โš–๏ธ Average spread from๐Ÿ‘‰ 0.37 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $45 / ZAR R720 per million USD traded
๐Ÿ’ธ. Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:30
๐Ÿค‘ Bonuses๐Ÿ’ฐ N/A
โ“ Customer Support๐Ÿช 24/7

OctaFX

OctaFX-LogoOverview

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

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

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

Markets.com

Marketscom-LogoOverview

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

โœ”๏ธ ProsโŒ Cons
Markets.com is a broker with a high trust score that offers ZAR as the base currency and deposit currencyA high minimum deposit is required when traders register a live account with Markets.com
User-friendly trading technology supported with a proprietary mobile appAn 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

๐Ÿ‘‰ Featureโ„น๏ธ Information
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation๐Ÿ‘‰ FSCA
๐Ÿ’ต Minimum deposit from๐Ÿ’ฐ $100 / ZAR R1 600
โš–๏ธ Average spread from๐Ÿ‘‰ 1.9 pips
๐Ÿ“ˆ Commissions from๐Ÿ“ˆ $0 / ZAR R0
๐Ÿ’ธ Deposit/Withdrawal Fees๐Ÿ™… None
โš–๏ธ Maximum Leverageโš–๏ธ 1:300
๐Ÿค‘ Bonuses๐Ÿ’ฐ Yes
โ“ Customer Support๐Ÿช 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

11 Best Forex Brokers in South Africa with Low Spreads

11 Best Forex Brokers in South Africa with MetaTrader 4

Recommended Posts