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Best Forex Brokers Botswana 2022

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

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

Afterward we contacted the customer support team to see if they were able to solve our problems. At last, we withdrew our funds to check the withdrawal process.

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

Is Forex Trading Possible in Botswana?

Botswana is located in Southern Africa. It neighbors South Africa, Namibia, Zimbabwe, and Zambia. The country’s population is over 2.3 million. It was once one of the poorest countries, yet, lately, it has transformed, becoming an almost upper-middle-income country. Botswana’s official currency is the pula. The country’s banking system is quite advanced, being one of the most developed in the region.

Recently forex trading has become quite popular in the country. Actually, In Africa, Botswana is considered one of the most favorable countries for forex trading.

The market is regulated by the Bank of Botswana. The bank’s main responsibility is to ensure the country’s financial and monetary steadiness. All the brokers that wish to accept Botswana traders, need to obtain the local Bureau de Change license.

The official website of the Bank of Botswana is www.bankofbotswana.bw.

🏦RegulatorThe Bank of Botswana
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNo
📊 Maximum Leverage1:30

Best Forex Brokers in Botswana

Finding forex brokers Botswana can be quite difficult. There might be very few brokers regulated in Botswana. Besides, some international brokers restrict opening accounts for traders from the country.

There are brokers that are based in the country, falling under local regulation, and there are international brokers that accept Botswana traders. In trading, money safety goes first, thus we recommend signing only with reliable and trustworthy firms with favorable offerings.

We advise traders to pay attention to the broker’s payment methods. It is important to make sure that the methods offered by a certain broker are available in Botswana. Also, another essential aspect is customer support. Traders should check if the broker provides customer support in the language they prefer.

To select the best forex brokers Botswana, we have reviewed many regulated forex brokers. Based on our research, we have come up with a list of the best forex brokers for Botswana residents:

  • FXTM – Best Online Broker Botswana Overall
  • Admiral Markets – Best Forex Broker for Beginners Botswana
  • Trading 212 – Best Forex Broker with $1 Minimum Deposit Botswana
  • Dukascopy – Best Botswana Broker with Low Spreads
  • ActivTrades – Best MT5 Broker for Botswana

Best Online Broker Botswana Overall

We picked FXTM as the best online forex broker Botswana overall.

FXTM was founded in 2011 and is based in Cyprus. It is strictly regulated in the United Kingdom, Cyprus, South Africa, and Mauritius. FXTM enables access to multiple instruments in various categories: forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and real stocks. This is one of the best ECN brokers.

The broker has several account types: Standard Account, Cent Account, and Stock CFDs Account. Clients can conduct their trades on the popular MT4 and MT5 platforms, also on the broker’s proprietary mobile platform.

There are various payment methods available: wire transfers, credit cards, local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal. The education section of the broker is also great. Traders have access to eBooks and trading guides, webinars, seminars, workshops, video tutorials on trading, etc.

Best Forex Broker for Beginners Botswana

We picked Admiral Markets as the best forex broker Botswana for beginners.

Admiral Markets is a global Forex and CFDs broker founded in 2001. The broker is headquartered in Estonia and holds multiple licenses in Australia, the United Kingdom, Cyprus, and Estonia. Admiral Market enables access to the following markets: forex pairs, indices, stocks, commodities, and cryptocurrencies.

Admiral Markets offers the popular MetaTrader 4 and MetaTrader 5 platforms to conduct trades. The broker has five main account types: Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, and Zero.MT5. Also, Muslim clients can open Islamic accounts. The available payment methods are bank wires, credit and debit cards, and e-wallets such as Skrill and Neteller. The broker offers low spreads across all the markets.

We have chosen Admiral Markets as the best forex broker Botswana for beginners. The broker’s education section is great with an in-depth beginner course called Forex 101. Traders have to sign up for a free demo account to gain access to lessons 4-9; the first three lessons are available for everyone.

Best Forex Broker with $1 Minimum Deposit Botswana

We picked Trading 212 as the best $1 minimum deposit forex broker Botswana.

Founded in 2004 Trading 212 is a global Forex and CFD broker. Based in London the broker holds licenses by the UK Financial Conduct Authority and the Bulgarian Financial Supervision Commission. Trading 212 enables access to multiple markets to conduct trades: indices, forex, commodities, stocks, and cryptocurrencies.

There are two main account types offered: Invest and CFD. The broker offers only its own proprietary platform which is easy to use and conduct favorable trades. Traders can fund their accounts through multiple payment methods, including bank wires, credit and debit cards, as well as e-wallets (Skrill, and PayPal).

We have chosen Trading 212 as the best $1 minimum deposit forex broker Botswana. The broker enables its clients to start trades with only a $1 deposit. However, we recommend checking margins for a particular instrument since $1 might not be enough for proper trading.

Best Botswana Broker with Low Spreads

We picked Dukascopy as the best low spread forex broker Botswana.

Founded in 2004, Dukascopy is based in Switzerland. It is forex and contracts for differences (CFDs) broker. Dukascopy is regulated in Switzerland, Japan, and Latvia. The broker offers trading services in multiple markets: forex, indices, commodities, cryptocurrencies, and stock CFDs.

Dukascopy offers two account types: Forex ECN Account and Forex MT4 Account. With the broker, clients can conduct their trades on JForex which is its Proprietary Platform, and MetaTrader 4.

We have chosen Dukascopy as the best low-spread forex broker Botswana. Our testing showed that spreads for forex are much lower than the industry average. The same is true for indices and commodities.

Best MT5 Broker for Botswana

We picked ActivTrades as the best MT5 forex broker Botswana.

ActivTrades is a global Forex and CFDs broker. It was founded in 2001. Based in London, United Kingdom, the broker holds licenses in the United Kingdom, Luxembourg, and the Bahamas. ActivTrades offers multiple tradable instruments in forex, indices, stocks, and commodities segments.

ActivTrades offers multiple deposit and withdrawal methods, including bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller. The broker has 2 main account types: an Individual Account and an Islamic Account.

We have chosen ActivTrades as the best MT5 forex broker Botswana. It enables access to the popular platforms, being one of the best MetaTrader5 and MetaTrader4 brokers. Both the platforms are great, equipped with all the necessary tools suitable for favorable trades. The broker also offers its proprietary platform known as ActivTrader.

Botswana Forex Brokers List

We have tested many regulated and trustworthy forex brokers Botswana. Based on our research, we have come up with a list of available forex brokers Botswana.

Botswana Forex BrokerAbout Our TestOur Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
Admiral MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
Admiral Markets Review
FP MarketsDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Trading 212 Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
ActivTradesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FxProDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
DukascopyDeposit Amount: Over €4,000
Total Trade: 15 trades
Dukascopy Review
IC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
Interactive BrokersInteractive Brokers Website

FAQ and More on Forex Trading Botswana

Traders usually have many concerns related to forex trading in Botswana. In an attempt to be helpful we picked and answered some of the most essential questions related to forex brokers Botswana.

How to Verify Botswana Regulated Forex Broker?

Verifying a Botswana broker is not at all difficult. The information can be found on the Bank of Botswana website. However, because of strict regulations, there are only several brokers that hold a local license in the country.

Yet, there is another easy way to verify a forex broker Botswana. You can just visit the broker’s website and see whether it offers services in your region. Mostly, almost all brokers mention on their websites the available and restricted regions.

Bank of Botswana - official website to verify Botswana brokers

Botswana Legit Forex Brokers with no Deposit Bonus

No deposit is a marketing tactic to attract new traders. The bonus is the initial free credit that brokers offer to the traders when opening a new account. We tried to find forex brokers with no deposit bonus. Read more about bonuses in our article No-Deposit Bonus Forex Brokers.

Based on our research we found only XTB – a forex broker with a welcome bonus. However, we advise rechecking whether the bonus is available for Botswana traders before signing with the broker.

Forex Brokers with Zar Accounts in Botswana

ZAR account enables clients to trade with the South African local currency, as the base currency. The brokers that operate in South Africa mostly provide forex traders with accounts with ZAR as the base currency.

Based on our tests, we found the following brokers with ZAR accounts in Botswana:

  • XM
  • Dukascopy

Best Binary Options Brokers Botswana

Binary options require speculation from the trader’s side of whether the asset’s price will go up or down. Traders should be very careful with binary options, as they are quite risky. In case the market moves against the bets, traders will lose their investments.

However, we do not recommend the instrument due to its high risks.

Botswana Brokers that Accept PayPal

PayPal is an online safe and secure payment system. It is available in many countries and remains a top choice for money transfers. For Botswana traders we tried to find out whether there are any brokers available offering PayPal.

Below are the brokers we have come up with:

  • FP Markets
  • XTB

Best Brokers for Indices in Botswana

Indices trading is a strategy allowing investors to trade stocks in groups. Traders use indices to measure the performance of a particular asset or stock exchange.

Based on our test we found the following volatility indices brokers Botswana:

  • Trading 212
  • Interactive Brokers

Tax for Forex Trading in Botswana

In Botswana forex traders pay taxes for their profits and earnings. At present, the income tax rate in the country varies from 5% to 25%. The tax rate depends on the annual income amount. Non-residents in Botswana also need to comply with the local laws and pay taxes the same way as residents.

Botswana traders are responsibile for filing tax forms to the country’s relevant institution. In case of delays or tax avoidance there may be huge fines and penalties.