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5 Best Forex Brokers in Botswana

Botswana was the world’s second-poorest country in the past. As a result of economic growth and development, Botswana has become one of the few countries in sub-Saharan Africa to have a sizable middle class.

The interest of retail traders in the financial markets and FX trading has expanded with the rising income of the middle class. In addition, there is increased activity of forex trading in Botswana, attributable to the increasing number of forex brokers that accept traders from the country.

Below we will explore the features of 5 of the Best Forex Brokers in Botswana.

Exness

Exness is a low-risk broker in Botswana with a trust score of 97 and Tier-1, Tier-2, and Tier-3 regulations. Exness provides a secure and user-friendly trading environment for Botswanan traders across MT4 and MT5. They may also depend on enticing trading circumstances, such as cheap spreads and access to ECN accounts.

In addition to the firm’s global brand, which draws a broad range of retail and corporate consumers, the firm’s divisions offer specialized financial services and investment solutions to clients across the globe.

Exness is one of the best forex brokers in Botswana and offers Botswanans the following account options and charges.

Standard Account

Minimum Deposit: 120 BWP/$10

Average Spread: 0.3 pips

Commissions: None

Average Trading Cost: 10 USD

Standard Cent Account

Minimum Deposit: 120 BWP/$10

Average Spread: 0.3 pips

Commissions: None

Average Trading Cost: 10 USD

Raw Spread Account

Minimum Deposit: 6,100 BWP or $500

Average Spread: 0.0 pips

Commissions: $3.5

Average Trading Cost: 7 USD

Zero Account

Minimum Deposit: 6,100 BWP or $500

Average Spread: 0.0 pips

Commissions: $0.1

Average Trading Cost: 7 USD

Pro Account

Minimum Deposit: 6,100 BWP or $500

Average Spread: 0.1 pips

Commissions: None

Average Trading Cost: 6 USD

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Pepperstone

Since its founding in 2010, Pepperstone Group has become a leading online broker, offering clients access to a wide variety of financial markets including foreign exchange (FX), stocks, indices, metals, commodities, and even cryptocurrencies.

Pepperstone welcomes customers from Botswana and has a standard spread of 0 pips and a round-turn commission fee of AU$7. Pepperstone offers Botswanans the following trading accounts, features, and fees.

Standard Account

Minimum Deposit: 1,700 BWP/200 AUD

Average Spread: 0.6 pips

Commissions: None

Average Trading Cost: 7.7 USD

Razor Account

Minimum Deposit: 1,700 BWP/200 AUD

Average Spread: 0.0 pips

Commissions: 7 AUD per lot

Average Trading Cost: cTrader: 8.17 USD, MT4: 8.17 USD, MT5: 9.2 USD

Tickmill

Tickmill is a Forex trading platform and one of the best forex brokers in Botswana that first opened its doors in 2015 and is licensed by a few of the industry’s most trusted authorities.

Tickmill provides premium goods and services to satisfy the needs of discriminating consumers and businesses across the globe. Botswanan traders can expect the following trading accounts, typical fees, and features.

Pro Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 0.0 pips

Commissions: $2 per side, per lot

Average Trading Cost: 4 USD

Classic Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 1.6 pips

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Commissions: None

Average Trading Cost: 16 USD

VIP Account

Minimum Deposit: Min balance of 600,000 BWP or $50,000

Average Spread: 0.0 pips

Commissions: $1 per side, per lot

Average Trading Cost: 2 USD

AvaTrade

AvaTrade has been around since 2006 and is renowned for its trading solutions and superior services. AvaTrade offers 1,260 financial instruments and provides beginner Botswanan traders with the best educational materials.

Despite having a small market share in Botswana, AvaTrade welcomes all traders regardless of their trading goals and styles, ranking this broker among the Top 20 forex and CFD brokers for Botswanan traders.

AvaTrade provides Botswanans with the following account options, trading conditions, and features.

Standard Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 0.9 pips

Commissions: None

Average Trading Cost: 9 USD

Professional Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 1.2 pips

Commissions: None

Average Trading Cost: 12 USD

Islamic Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 0.9 pips

Commissions: None

Average Trading Cost: 9 USD

HF Markets

Some of the best opportunities for Botswanans come from HF Markets’ focus on and influence in the African, Asian, and MENA regions. Since HF Markets offers its trading service in combination with the necessary licenses that regulate the Forex industry, it is a reliable forex broker.

HF Markets offers the following accounts and Botswanans can see the typical trading costs that they can expect when dealing with this reputable broker.

Micro Account

Minimum Deposit: 60 BWP/$5

Average Spread: 1 pip

Commissions: None

Average Trading Cost: 10 USD

Premium Account

Minimum Deposit: 1,200 BWP/$100

Average Spread: 1 pip

Commissions: None

Average Trading Cost: 10 USD

HFCopy Account

Minimum Deposit: Follower: 1,200 BWP ($100)

Minimum Deposit: Provider: 3,700 BWP ($300)

Average Spread: 1 pip

Commissions: None

Average Trading Cost: 10 USD

Zero Spread Account

Minimum Deposit: 2,400 BWP/$200

Average Spread: 0.0 pips

Commissions: Forex Major: $3/$6, Other: $4/$8

Average Trading Cost: 7 USD

Auto Account

Minimum Deposit: 2,400 BWP/$200

Average Spread: 1 pip

Commissions: None

Average Trading Cost: 10 USD

Conclusion

Forex trading in Botswana has become an extremely popular endeavour because of the ease with which new traders can enter the market. Botswanan traders can consult our list of the best brokers for their region to find an option that meets their needs and/or trading requirements and style.

FAQ

Can I get rich from trading forex in Botswana?

Forex trading is extremely lucrative, but it is not likely for a retail forex trader to become a millionaire from this endeavour. While there are exceptions, between 70% and 90% of traders lose their funds. Botswanan traders should set their sights on realistic profits.

How much money do I need to trade forex in Botswana?

Many forex brokers today offer Botswanans the chance to start trading from 60 BWP and they can open positions using the leverage offered by these brokers.

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Written by How Africa

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