5 Regulated Forex Brokers in Namibia

To date, the Namibia Financial Institutions Supervisory Authority (NAMFISA) has made no effort to compel offshore Forex brokers to get local regulation. Traders new to the Forex market should select a broker from our recommended list because of the measures taken by these firms to safeguard client funds from loss.

1.   HF Markets

Overview

You can choose from six different trading accounts at HF Markets, a broker that offers the MetaTrader platform. HF Markets makes use of a more robust version of MetaTrader, however it only offers a limited selection of items for trading, but it is one of the few FSCA regulated brokers in Namibia.

Pros No deposit or withdrawal fees Competitive spreadsCons High commission charges on the Zero account

 

FeatureInformation
RegulationCySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from$5
Average spread from0,0 pips
Commissions fromUSD 0.03 per 1K lot.
Deposit/Withdrawal FeesNone
Maximum Leverage1:1000
Bonuses100% Supercharged Bonus
Customer Support24/5

2.   XM

Overview

In the world of foreign exchange, XM is a household name and one of the best Forex brokers in Namibia. Through the improved MetaTrader 4 and MetaTrader 5 trading platform, XM provides its clients with access to over a thousand assets at reasonable prices.

The XM Zero account appears competitive for Forex traders while requiring only a $5 minimum investment. With a few hundred dollars to spare, depositors can anticipate reasonable costs.

Pros Low minimum deposit Comprehensive educational offering Streamlined account opening process  Cons Inactivity fee charged after 90 days on live accounts Limited product portfolio  
FeatureInformation
RegulationIFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from$5
Average spread from0.1 pips
Commissions from$3.5 commission per $100 000 traded
Deposit/Withdrawal FeesNone
Maximum Leverage1:30
Bonuses$30 Trading Bonus
Customer Support24/5

👉Open a Free Trading Account Now

3.   Pepperstone

Overview

Pepperstone is an online broker that offers competitive commission rates, lightning-fast trade execution, and helpful, multilingual support staff. There are zero transaction costs associated with either deposits or withdrawals.

Pros No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits  Cons Limited number of instruments No additional research tools    

 

FeatureInformation
RegulationFCA, ASIC
Minimum deposit fromAUD200
Average spread from0.4 pips 
Commissions from‎$3.76 commission per lot per trade
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
BonusesNone
Customer Support24/5

4.   IC Markets

Overview

Algorithmic day traders that need low spreads and speedy and precise execution on the MT4 or MT5 platforms should use IC Markets’ platform. When it comes to trading volume, IC Markets has a major advantage over its competitors due to its usage of automated trading tactics.

PROSCONS
Low forex fees Easy and fast account opening Free deposit and withdrawalNo Negative Account Balance Protection Limited number of available CFDs

 

FeatureInformation
RegulationASIC
Minimum deposit from$200
Average spread from0.0 pips
Commissions from‎None
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
BonusesNone
Customer Support24/7

5.   FXTM

Overview

FXTM, short for ForexTime, is a global broker that has been in business for over ten years. Over 3 million users make this platform the world’s most popular FX broker. Investors of all experience levels can use FXTM to trade 59 different currency pairings in addition to Contracts for Difference (CFDs) on commodities, indices, and equities.

PROSCONS
Superb customer serviceInactivity and withdrawal fees
High maximum leverageLimited product portfolio
Great educational tools 

 

FeatureInformation
RegulationCySEC, FCA, FSCA
Minimum deposit from$100
Average spread from0.9 pips
Commissions fromNo commission
Deposit/Withdrawal Fees$3
Maximum Leverage1:500 on average
Bonuses$300 Trading Bonus
Customer Support24/5
By Observer