Best Forex Brokers Namibia 2022

To come up with this list, we have tested forex brokers Namibia.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Then, to get the actual picture, we placed real trades in each popular market. 

We contacted customer support to see how the team was able to solve the issues we had. Finally, we withdrew our funds to check the withdrawal process.

We handpicked the best forex brokers Namibia based on our trading data and experience as a trader.

Is Forex Trading available in Namibia?

Namibia is situated in Southern Africa. In the country among the well-developed economic sectors are mining, agriculture, manufacturing, and tourism.

The banking system in Namibia is highly developed and contradictory to the common belief the Bank of Namibia allows Forex Trading in the country. In fact, there is not a formal regulatory body in Namibia to control Forex Trading. Anyway, there are several acts released by the Bank of Nambia that pretty much regulate the field: The Currency and Exchanges Act, and The Exchange Control Regulations.

The foreign exchange in the country is controlled by the Currency and Exchanges Act. The Act states that only authorized dealers and brokerages can operate in this field.

The financial sector in Namibia is regulated by The Namibia Financial Institutions Supervisory Authority (NAMFISA). The NAMFISA is an independent institution that aims to regulate and supervise the financial institutions of the country.

The official website of the Bank of Namibia is www.bon.com.na.
The official website of The Namibia Financial Institutions Supervisory Authority is www.namfisa.com.na.

🏦Regulator	The Bank of Namibia
🛡️Is It safe to trade	Yes
🔒Negative Balance Protection	No
💰Compensation Scheme	No
📊 Maximum Leverage	1:30

Best Forex Brokers in Namibia

Choosing a forex broker Namibia can be quite difficult. There might be almost no brokers regulated in Namibia. Besides, some international brokers may restrict opening accounts for Namibia Traders.

There are Brokers that are based in the country and fall under the local regulation, and there are international brokers that accept Traders from Namibia. We recommend signing only with reliable firms as money safety in trading goes first.

Thus when choosing a forex broker Namibia, traders should be extra careful. We recommended paying attention to the broker’s payment methods and their availability in the country. Also, customer support is another important aspect to consider. Before signing with a broker Namibia clients must first check whether the broker provides help in their preferred language.

To select the best forex brokers Namibia, we have reviewed many regulated forex brokers. As a result, we have come up with a list of the best forex brokers Namibia:

• FP Markets – Best Trusted Forex Broker in Namibia Overall
• Trading 212 – Best Forex Brokers for Beginners Namibia
• Admiral Markets – Best Namibian Forex Brokers with $1 minimum deposit
• INFINOX – Best Low Spread Forex Broker for Namibia
• Tickmill – Best forex brokers with bonus Namibia

Best Forex Broker in Namibia Overall

We picked FP Markets as the overall best forex broker Namibia. 

FP Markets, founded in 2005, is headquartered in Australia. The broker offers a wide range of trading instruments in the following categories: forex, stocks, indices, commodities, and cryptocurrencies. FP Markets holds licenses in the United Kingdom, Australia, Cyprus, Saint Vincent, and the Grenadines.

The broker’s spreads are on the lower side, especially for forex and indices. Spreads on stocks, commodities, and cryptocurrencies, are mostly on the average benchmark. Also, FP Markets is known for its forex ECN pricing.

The broker offers its traders the popular MT4, MT5 platforms, and the IRESS platform. FP Markets accounts are based on its trading platforms: Standard and Raw account for MetaTrader platforms and Standard, Platinum, and Premier account for IRESS.

Best Forex Brokers for Beginners Namibia

We picked Trading 212 as the best forex broker Namibia for beginners.

Trading 212 was founded in 2004. It is located in London. Trading 212 is a global Forex and CFD broker. It holds licenses by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). With Trading 212 traders have access to the following categories: Indices, Forex, Commodities, Stocks, and Cryptocurrencies.

The broker has two main account types: Invest and CFD. Trading 212 offers its own proprietary platform equipped with all the tools and features for favorable trading. It offers various payment methods: bank wires, credit and debit cards, as well as e-wallets such as Skrill, and PayPal.

We have chosen Trading 212 as the best forex broker Namibia for beginners. Its educational section is suitable for beginner traders. Traders have access to the in-depth video tutorial course. Trading 212 also offers text tutorials, educational articles, and a demo account.

Best Namibian Forex Brokers with a $1 Minimum Deposit

We picked Admiral Markets as the best forex broker Namibia with a $1 minimum deposit. 

Admiral Markets is a global Forex and CFDs broker. The broker was founded in 2001 in Estonia and holds licenses in Australia, the United Kingdom, Cyprus, and Estonia. With Admiral Markets traders have access to multiple instruments: forex pairs, indices, stocks, commodities, and cryptocurrencies.

Admiral Markets offers its customers 5 account types: Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, and Zero.MT5. Traders can conduct their trades on the popular MetaTrader 4 and MetaTrader 5 platforms.

We have chosen Admiral Markets as the best forex broker Namibia with a $1 minimum deposit. The broker has a minimum deposit of $/€/£ 1 for its Invest.MT5 account. For other accounts, the broker’s required minimum deposit is $/€/£ 100.

Best Low Spread Forex Broker for Namibia

We picked INFINOX as the best lowest spread forex broker Namibia.

INFINOX is a forex and CFD broker. It is headquartered in the United Kingdom and is regulated in the United Kingdom, South Africa, Bahamas, and Mauritius. It offers multiple trading instruments in forex, indices, commodities, cryptocurrencies, and stock CFDs instruments.

INFINOX offers an STP Account and an ECN Account. The broker also offers Swap-free Islamic accounts. With INFINOX clients can conduct their trades on the popular MetaTrader 4 and MetaTrader 5 platforms.

We have chosen INFINOX as the best forex broker Namibia with the lowest spreads. The broker offers low spreads across all markets. The spreads are much lower than the industry average.

Best forex brokers with bonus Namibia

We picked Tickmill as the best forex broker Namibia with a bonus.

Founded in 2014, Tickmill is a global Forex and CFDs broker. The broker is located in London and holds licenses in the UK, Cyprus, South Africa, Seychelles, and Labuan (Malaysia). With Tickmill traders have access to the following instruments: Forex, Commodity, Indices & Bonds.

Tickmill offers 3 account types: the Pro, Classic, and VIP accounts. Clients can deposit funds into their trading accounts through debit/credit cards, bank transfers, and e-wallets such as Skrill, and Neteller.

We have chosen Tickmill as the best forex broker Namibia with a bonus. Tickmill offers a no-deposit bonus worth $30 to its new clients.

Namibia Top Forex Brokers List

We have tested many regulated forex brokers Namibia. Although due to local restrictions not all brokers are available in the country, we have come up with a list of available forex brokers Namibia.

Forex Broker Namibia	About Our Test	Our Review
Admiral Markets	Deposit Amount: Over €4,500 Total Trade: 12 trades	Admiral Markets Review
Vantage FX	Deposit Amount: Over €5,000 Total Trade: 15 trades	Vantage FX Review
INFINOX	Deposit Amount: Over €4,000 Total Trade: 9 trades	INFINOX Review
XTB	Deposit Amount: Over €5,000 Total Trade: 12 trades	XTB Review
FXTM	Deposit Amount: Over €6,000 Total Trade: 12 trades	FXTM Review
Tickmill	Deposit Amount: Over €8,000 Total Trade: 12 trades	Tickmill Review
Trading 212	Deposit Amount: Over €5,500 Total Trade: 15 trades	Trading 212 Review
FP Markets	Deposit Amount: Over €6,000 Total Trade: 12 trades	FP Markets Review
Dukascopy	Deposit Amount: Over €4,000 Total Trade: 15 trades	Dukascopy Review
XM	Deposit Amount: Over €5,000 Total Trade: 12 trades	XM Review

FAQ and More on Forex Trading Namibia

Traders usually have many concerns related to forex trading in Namibia. To be helpful we picked and answered some of the most important queries related to forex brokers Namibia.

How to Verify Nabimia Regulated Forex Brokers?

When verifying forex brokers Namibia traders should be very careful. As there is not an official regulatory body in the country, traders are recommended to look for the information on the official website of The Namibia Financial Institutions Supervisory Authority and The Bank of Namibia. Read more on The Bank of Namibia Wikipedia page.

However, forex brokers Namibia can also be verified on the broker’s website. Commonly, almost all brokers provide information about their availability or restrictions in certain regions and countries.

Namibia Forex Brokers with ZAR accounts

ZAR account enables forex traders to trade with the South African local currency. The use of a local currency protects the traders’ profits from the risk of currency fluctuations. Read more about ZAR accounts.
Based on our test we have chosen two forex brokers Namibia with a ZAR account:

• Dukascopy
• XM

ECN forex brokers Namibia

ECN is an automated bridging system directly connecting buyers and sellers in a trade settlement. ECN connects brokers and traders in different geographies and broadens the liquidity of trades.
Based on our research, we recommend the following ECN forex brokers Namibia:

• INFINOX
• Vantage FX

Tax for Forex Trading in Namibia

Forex traders in Namibia should be very careful when it comes to taxes for forex trading. They should file the tax documents to the Revenue office of the country. The Income tax in the country starts from 18% and it can range up to 37%, depending on the income amount. In Namibia, there are no taxes for capital gains.

Namibian traders should be very careful and check the tax information with the relevant authorities. In the case of delays or tax avoidance, they may face penalties and fines.