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 spreads
Cons High commission charges on the Zero account
Feature
Information
Regulation
CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from
$5
Average spread from
0,0 pips
Commissions from
USD 0.03 per 1K lot.
Deposit/Withdrawal Fees
None
Maximum Leverage
1:1000
Bonuses
100% Supercharged Bonus
Customer Support
24/5
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.
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
Feature
Information
Regulation
FCA, ASIC
Minimum deposit from
AUD200
Average spread from
0.4 pips
Commissions from
‎$3.76 commission per lot per trade
Deposit/Withdrawal Fees
None
Maximum Leverage
1:500
Bonuses
None
Customer Support
24/5
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.
PROS
CONS
Low forex fees Easy and fast account opening Free deposit and withdrawal
No Negative Account Balance Protection Limited number of available CFDs
Feature
Information
Regulation
ASIC
Minimum deposit from
$200
Average spread from
0.0 pips
Commissions from
‎None
Deposit/Withdrawal Fees
None
Maximum Leverage
1:500
Bonuses
None
Customer Support
24/7
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.
