The Forex market is the largest financial market in the world in addition to being the most dynamic. There are endless possibilities in earning substantial profits, and this is what makes Forex trading so lucrative and popular.
However, it is imperative for Tanzanian traders to not only ensure that they have a solid trading plan and adequate knowledge of Forex trading, but that they find the right broker catered to their trading needs and objectives.
Best Forex Brokers for Tanzanians
easyMarkets is a Cyprus-based online trading broker with strict regulation through ASIC, CySEC, and FSA. Tanzanian traders can register a live account with a $100 minimum deposit and gain access to major global markets through easyMarkets.
easyMarkets offers leverage up to 1:400, fixed spreads, zero-commission trading, and an array of financial instruments which can be traded.
AvaTrade is a multi-regulated Market Maker and STP broker which has a minimum deposit requirement of $100.
When trading with AvaTrade, Tanzanian traders have access to competitive trading conditions consisting of leverage of 1:400, fixed and tight spreads, zero-commission trading, access to various financial instruments and advanced trading platforms.
Strictly regulated by ASIC, CySEC, and IFSC, XM is an ECN and STP broker that offers Tanzanian traders comprehensive trading solutions and competitive conditions from $5 when registering a live trading account.
XM offers traders with leverage up to 1:880, variable and tight spreads, low commissions between $0 - $3.5, a range of financial instruments and advanced trading platforms.
- IC Markets
Regulated by the reputable ASIC, IC Markets is a true ECN broker based in Australia and the Seychelles and offers its services to traders from around the world.
The minimum deposit that Tanzanians must pay when registering a live trading account is $200 which provides them with access to a range of markets, leverage up to 1:500, variable spreads, and low commissions starting from $0 to $3.5.
FXTM is a well-regulated broker which operates in several jurisdictions where it provides its services to traders from around the world.
When registering a live trading account, Tanzanian traders are subjected to minimum deposits from $10 and are offered with competitive trading conditions that include leverage up to 1:300, variable spreads, and low commissions between $0 - $2.
FXCM is a well-regulated STP broker which serves numerous traders from around the world, including Tanzanian traders with regulation and authorization through FCA, ASIC, and FSCA.
With a minimum deposit from $50, Tanzanian traders can trade in global markets using leverage up to 1:400, variable spreads, and commission charges starting from $0.
Despite the lack of Forex brokers situated in Tanzania itself, there are numerous brokers who cater for a variety of African countries in offering comprehensive trading solutions along with competitive trading conditions.
Tanzanian traders have lucrative options when it comes to Forex brokers and every trader is bound to find a broker that adequately caters for their trading needs and objectives.