9 Best Tanzanian Forex Brokers with a Minimum 100 USD Deposit

The 9 Best Tanzanian Forex Brokers with a hundred-dollar minimum Deposit revealed. We tested and verified the best forex brokers with a 100 USD minimum deposit to get started.

This is a complete list of 50 USD forex brokers in Tanzania.

In this in-depth guide you’ll learn:

  • What is a 100 USD minimum deposit?
  • What are lot sizes and why traders and investors should know about them?
  • Who are the best low-minimum deposit brokers for Tanzanians?
  • A list of the best $100 minimum deposit brokers for Tanzanians.
  • How to choose a forex broker Compare them side by side with minimum and maximum deposits.
  • Which brokers offer Trading Apps for IOS and Andriod?
  • Which NASDAQ Brokers offer a $100 minimum deposit?
  • Which brokers offer a sign-up bonus for first-time traders? 


And lots more…

 

So if you’re ready to go “all in” with the best-tested low minimum deposit forex brokers for Tanzanians…

 

Let’s dive right in…

Updated : June 21, 2023

Best Tanzanian Forex Brokers with a Minimum 100 USD Deposit – Comparison

🥇 Broker💸 Minimum Deposit💰 Maximum Deposit💸 Shilling Deposits Allowed?✔️ Offers a Shilling Account?👉 Open An Account
AvaTrade213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
RoboForex213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
Markets.com213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
Tickmill213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
CM Trading213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
BD Swiss213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
Forex.com213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account
Plus500213,01 Shilling or equivalent to $100UnlimitedNoNo👉 Open Account

10 Best Forex Brokers in Tanzania

Rank

Broker

Review

Regulators

Min Deposit

Official Site

🥇

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

🥈

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

🥉

Read Review

FSCA, IFSC, ASIC, CySEC, DFSA, FCA

$5

#4

Read Review

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

#5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

$0

#6

FSA, CySEC, FSCA, FSC

$1

#7

FSCA, FSC, FSA, MISA

$10

#8

Read Review

ASIC, CySEC, FSCA, FSA

$100

#9

Read Review

FSA, FSCA

$5

#1

$100

Minimum Deposit

#2

$10

Minimum Deposit

#3

$5

Minimum Deposit

#4

$10

Minimum Deposit

#5

$0

Minimum Deposit

#6

$1

Minimum Deposit

#7

$10

Minimum Deposit

#8

$100

Minimum Deposit

#9

$5

Minimum Deposit

#10

$5

Minimum Deposit

9 Best Tanzanian Forex Brokers with a Minimum 100 USD Deposit (2023)

  1. AvaTrade – Overall, Best Minimum 100USD Deposit Broker
  2. OctaFX – Best Trading Education for Beginner Traders
  3. Markets.com – Best Tanzanian Broker on the FTSE 250 Index
  4. Tickmill – Best MT4 and MT5 Trading Account
  5. CM Trading – Best Expert Advisers for Tanzanians
  6. BDSwiss – Best Liquidity Broker in Tanzania
  7. FOREX.com – Best NFA and CFTC Broker
  8. Plus500 – Lowest Risk CFD Broker for Tanzanian
  9. Axi – Fastest Local Tanzanian Deposits

1. AvaTrade

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

AvaTrade is one of the best CFD and Forex brokers in the world, with several awards won since its inception in 2006. AvaTrade offers tailor-made solutions to retail and professional traders in Tanzania. Tanzanians can register an account with AvaTrade for 100 USD, opening the doors to over 1,250 financial instruments and a range of powerful trading platforms.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, ZAR, GBP, AUD
📊 Max Leverage Ratio1:400
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesOne Retail Account, Professional Account
💻 Trading AssetsForex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals
✔️ Negative Balance Protection?Yes
📞 Margin Call50% on Retail, 25% on AvaOptions
🛑 Stop-Out10%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade is multi-regulated in several regions and is approved to provide trading solutions to Tanzanian tradersThere are no variable spreads offered and there is only one account type offered with two options namely retail or professional
AvaTrade offers a diverse range of educational materials to beginner Tanzanian tradersThere are inactivity fees charged on dormant accounts
There is dedicated Islamic trading offered to Muslim Tanzanian tradersTanzanian traders could face currency conversion fees because Shilling-deposits are not accepted
AvaTrade offers sophisticated trading tools to advanced traders
Tanzanian traders are given a choice between 1,250 tradable financial instruments

2. OctaFX

Overall Rating

Min Deposit

USD 5

Regulators

FCA UK

Trading Platform

MT5, MT4, OctaTrader

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

OctaFX was established in 2011 and it is an average-risk CFD with offices based in Port Harcourt in Tanzania. OctaFX offers a range of markets to Tanzanian traders through two retail investor accounts, with the benefit that Tanzanians can start trading with 100 USD.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR
📊 Max Leverage Ratio1:500
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesMetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account
💻 Trading AssetsForex, Index CFDs, Commodities, Cryptocurrencies, Energies, Precious Metals
✔️ Negative Balance Protection?Yes
📞 Margin Call25%
🛑 Stop-Out15%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
OctaFX has local offices in Tanzania, making it one of the best local forex brokers in the countryThere is no Shilling-denominated account
OctaFX offers a comprehensive copy trading mobile app to TanzanianThere is a limited choice between trading accounts
There are commission-free trades offeredThere is a limited selection of financial instruments that can be traded
OctaFX offers a very lucrative affiliate program to partners
Deposits and withdrawals are free

 

3. Markets.com

Overall Rating

Min Deposit

USD 100 / 41459 NGN

Regulators

CySec, ASIC, FCA, BVI FSC, FSCA

Trading Desk

MetaTrader 4, MetaTrader 5, Markets.com propietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Markets.com is one of the best forex and CFD brokers that offer proprietary trading platforms for trading and investing, respectively. Markets.com offers two account types that offer some of the best trading conditions and features to Tanzanian traders, all available with a 100 USD minimum deposit.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, GBP, EUR, AUD
📊 Max Leverage Ratio1:300
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰Tanzanian Customer Support?No
📊 Account TypesMarketsX Account, Marketsi Account
💻 Trading AssetsShares, Bonds, Cryptocurrencies, Forex, Primary CFDs, ETFs, Indices, Blends, Commodities
✔️ Negative Balance Protection?Yes
📞 Margin Call50%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
Markets.com is extremely well-regulated in several regionsMarkets.com does not offer a Shilling-denominated account
Tanzanian traders have a large range of markets that they can tradeThere are no local deposits or withdrawals for Tanzanian traders
There is commission-free trading offeredAn inactivity fee and currency conversion fee will apply
Tanzanian traders can expect competitive trading conditions that suit all types of traders
Beginner Tanzanian traders can expect a diverse range of educational materials and tools

 

4. Tickmill

Overall Rating

Min Deposit

USD 100

Regulators

FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Overall, Tickmill is known as a high-trust and low-risk broker that is regulated by several entities around the world. Tickmill caters extensively for Tanzanian traders and offers user-friendly platforms and some of the lowest spreads.

 

Tickmill requires a 100 USD minimum deposit when Tanzanians register a trading account, offering a selection of financial instruments that can be traded through MetaTrader 4 or 5 on a desktop terminal, web browsers, or mobile apps that run on iOS or Android.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, GBP
📊 Max Leverage Ratio1:500
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesPro Account, Classic Account, VIP Account
💻 Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
✔️ Negative Balance Protection?Yes
📞 Margin Call100%
🛑 Stop-Out30%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
Tickmill offers Tanzanian a choice between three retail accounts, each intended for a different trading skill levelThere are no fixed spreads offered
There are several flexible funding methods offered to TanzanianThere is a currency conversion fee that could apply to Shilling deposits
Advanced traders have access to FIX API, VPS, AutoChartist, and several other tools
Tickmill guarantees client fund security
Tanzanian traders can register a trading account with starting capital of 213,01 or an equivalent to $100

 

5. CM Trading

Overall Rating

Min Deposit

USD100

Regulators

FSA

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

154

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

CM Trading has an extremely high trust score of 91% and caters extensively to African traders. CM Trading offers a wide range of markets that can be traded, and Tanzanians can register a live trading account with a minimum deposit of $100.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, GBP
📊 Max Leverage Ratio1:200
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesBronze Account, Silver Account, Gold Account, Premium Account
💻 Trading AssetsCurrency trading, Stocks, Indices, Cryptocurrencies, Commodities, CFDs
✔️ Negative Balance Protection?Yes
📞 Margin Call20%
🛑 Stop-Out
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
CM Trading has a high level of trustworthinessThere is an inactivity fee applied to dormant accounts
CM Trading offers advanced traders a range of trading toolsDeposit and withdrawal fees apply to crypto payments
There is no restriction on the trading strategies that Tanzanian traders can use
CM Trading allows Tanzanian traders access to several markets with a low minimum deposit
CM Trading has a high reputation as one of the best CFD and forex brokers for Tanzanian traders

 

6. BDSwiss

Overall Rating

Min Deposit

233200 TZS / $100

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

BDSwiss is one of the best STP and ECN brokers in the world, recognized for a large range of markets and some of the best trading conditions. BDSwiss offers Tanzanian traders a highly liquid trading environment and the broker is also the hub for affiliates, with over 17,500 global partnerships.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, GBP
📊 Max Leverage Ratio1:1000
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesClassic Account, Premium Account, VIP Account, RAW Account
💻 Trading AssetsForex, Commodities, Shares, Indices, Cryptocurrencies
✔️ Negative Balance Protection?Yes
📞 Margin Call50%
🛑 Stop-Out20%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
BDSwiss offers commission-free tradingThere is no Tanzanian specific trading terminal offered
Tanzanian CFD traders can choose between 250 CFDs across asset classesThere are withdrawal fees charged
There is a high leverage ratio offeredTanzanian Shilling deposits are not accepted
BDSwiss offers MetaTrader 4 and 5 across devicesThere is no TZS-denominated account offered
There are no deposit fees charged

 

7. FOREX.com

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

FOREX.com is one of the most prominent forex brokerage firms in the world as part of GAIN Capital Holdings and StoneX Group, Inc. as of 2020. FOREX.com is well-regulated and offers a choice between three retail investor accounts to Tanzanian traders, with the benefit that the minimum deposit starts from 100 USD.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, GBP, EUR, CHF, JPY, NZD
📊 Max Leverage Ratio1:400
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesStandard Account, Commission Account, Direct Market Access (DMA) Account
💻 Trading AssetsForex, Indices, Stocks, Commodities, Precious Metals, Cryptocurrencies, Energies
✔️ Negative Balance Protection?Yes
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
FOREX.com is highly trusted because of its NFA and CFTC regulation, among other authorizations and licensesInactivity fees are charged on inactive and dormant accounts
FOREX.com has an execution scorecardCurrency conversion fees apply
Tanzaniantraders can access a Direct Market Access (DMA) AccountThere is no Shilling-denominated account offered
There is a dedicated market strategist for more experienced traders
Beginner traders have access to a range of educational materials and tools

 

8. Plus500

Overall Rating

Min Deposit

USD100

Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Trading Desk

WebTrader

Total Pairs

70

Crypto

Yes (Availability subject to regulations)

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Plus500 is the market leader in pure CFD trading and provides Tanzanian traders access to over 2,000 different financial instruments that they can trade through powerful proprietary trading platforms, all from a low minimum deposit of 100 USD.

 

Features

FeatureValue
📉 Minimum Deposit213,01 Shilling or equivalent to $100
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, GBP, ZAR, EUR
📊 Max Leverage Ratio1:30
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesOne Standard Account
💻 Trading AssetsIndices, Forex, Commodities, Cryptocurrencies, Shares, Options, Exchange-traded funds (ETFs)
✔️ Negative Balance Protection?Yes
📞 Margin CallDepends on the Maintenance Margin
🛑 Stop-Out1% less than the Maintenance Margin
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ Pros❌ Cons
Plus500 is known as the best CFD broker with a proprietary trading platformThere is restricted maximum leverage in most regions
Commission-free trading is offeredThere is no desktop version of the proprietary trading platform
Deposit fees are not chargedThere are restrictions on the trading strategies that Tanzanian traders can use
There are over 2,000 CFDs that can be tradedGuaranteed stops are not offered free of charge
Tanzanian traders have access to 24/7 customer support through Live Chat and other channels

 

9. Axi

Overall Rating

Min Deposit

USD 0

Regulators

FSA, FCA, ASIC, DFSA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

66

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Axi is an award-winning broker that offers a safe, transparent, and competitive trading environment to all types of traders. Axi is known for its low spreads and low minimum deposit requirement. A benefit that Axi offers Tanzanian traders is that they can deposit any given minimum when they register a live trading account.

 

Features

FeatureValue
📉 Minimum DepositNot fixed, anything from 0 TZS upwards
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
📊 Max Leverage Ratio1:30 Retail, 1:400 Professional
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?No
💰 Tanzanian Customer Support?No
📊 Account TypesStandard Account, Pro Account, Elite Account
💻 Trading AssetsForex, Share CFDs, Indices, Commodities, Energies, Precious Metals, Cryptocurrency CFDs
✔️ Negative Balance Protection?No
📞 Margin Call90%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots

Pros and Cons

✔️ Pros❌ Cons
Axi has a good reputation and is an extremely low-risk brokerInactivity fees apply to dormant accounts
Tanzanian can make deposits and withdrawals in Tanzanian ShillingRetail clients can only use leverage up to 1:30
Axi does not charge any account feesThere are deposit and withdrawal fees charged on the supported payment methods
Axi offers MetaTrader 4 across devices including mobile trading apps for iOS and AndroidThere is only one trading platform offered
There are several advanced tools for experienced Tanzanian traders including AutoChartist, MetaTrader 4 NextGen, and othersThe demo account will expire after 30 days of activation

How to start trading with 100 USD in Tanzanian

 

Step 1: Selecting a Broker

Choose a reputable broker that operates in Tanzania and accepts deposits in USD. Opt for brokers regulated by recognized authorities like the Tanzania Securities Exchange (USE) or international regulatory bodies. This ensures a trustworthy trading environment.

 

Step 2: Opening a Trading Account

Complete the account opening process with your selected broker. This typically involves providing personal information, verifying your identity, and agreeing to the broker’s terms and conditions. Ensure a smooth and secure account setup.

 

Step 3: Depositing Funds

Deposit your $100 USD into your trading account. Brokers generally offer various deposit methods, including bank transfers or online payment platforms. Confirm that the broker supports USD deposits and provides convenient options for Tanzanian traders.

 

Step 4: Choosing a Trading Instrument

Decide on the financial instrument you wish to trade. You have several options such as forex (foreign exchange), stocks, commodities, or cryptocurrencies. Consider your trading goals, risk tolerance, and market knowledge while selecting your preferred instrument.

 

Step 5: Enhancing Your Knowledge

Deepen your trading knowledge and skills by learning about fundamental and technical analysis, risk management, and trading strategies. Many brokers offer educational resources like articles, webinars, and demo accounts. Utilize these valuable resources to improve your trading abilities.

 

Step 6: Developing a Trading Plan

Formulate a trading plan that outlines your goals, risk management strategies, and trading approach. Determine your entry and exit criteria, along with the capital you are willing to risk per trade. A well-defined plan sets the foundation for consistent decision-making.

 

Step 7: Commencing Trading

Utilize your trading platform to execute trades based on your established plan. Monitor the markets, analyze price movements, and make informed trading decisions. Maintain a record of your trades and assess their performance to refine your strategy over time.

 

Step 8: Risk Management

Implement effective risk management techniques to safeguard your capital. Utilize stop-loss orders to limit potential losses and consider setting profit targets to secure gains. Avoid exposing too much of your account balance on a single trade, as this can result in substantial losses.

 

Step 9: Continuous Learning

Trading is a skill that requires ongoing learning and improvement. Stay updated on market news, economic events, and changes in trading conditions. Continuously analyze and adapt your trading strategies to stay aligned with evolving market trends.

 

Remember that trading entails risks, and profitability is not guaranteed. It is vital to exercise patience, discipline, and realistic expectations while consistently expanding your knowledge and experience in the trading world.

How to choose a Forex broker

 

Selecting a forex broker is a crucial decision that significantly influences a trader’s experience and profitability. To make an informed choice, it is important to consider several factors. Here are key aspects to contemplate when choosing a forex broker:

 

Regulation:

Opt for a broker regulated by a reputable financial authority in their home country or operating jurisdiction. Regulation ensures that brokers adhere to specific standards and rules, providing traders with a certain level of protection.

 

Trading Platforms:

Evaluate the broker’s trading platform for user-friendliness, reliability, and availability of tools and features that align with your trading requirements. Consider whether the platform is accessible on both desktop and mobile devices and offers a diverse range of financial instruments.

 

Spreads and Fees:

Compare spreads and trading fees among different brokers to identify the most competitive pricing. While low spreads are advantageous, also take into account other fees such as commissions and swap rates.

 

Customer Support:

Prioritize brokers that offer responsive and helpful customer support accessible through various channels, including phone, email, and live chat. Efficient customer support can be crucial when encountering issues or seeking assistance.

 

Educational Resources:

Look for brokers that provide educational resources such as webinars, tutorials, and market analysis. These resources can aid in improving trading skills and knowledge, enhancing your overall trading performance.

 

Deposit and Withdrawal Options:

Consider the broker’s deposit and withdrawal options, ensuring they support your preferred payment methods. Smooth and convenient transactions are vital for efficient account funding and withdrawals.

 

Reputation:

Conduct online research to assess the broker’s reputation and seek reviews from other traders. Real-life experiences and feedback from fellow traders can offer valuable insights into the broker’s reliability and quality of service.

 

By carefully considering these factors, traders can select a forex broker that aligns with their needs, supports their trading goals, and provides a satisfactory trading experience.

Best Tanzanian Forex and CFD Brokers

 

Tanzanian Broker with the Best Liquidity

Overall Rating

Min Deposit

233200 TZS / $100

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

We chose BDSwiss because the broker experiences high monthly trading volumes that exceed $84 billion, ensuring an active market and platform for retail and institutional Tanzanian traders.

 

Best Islamic Trading Conditions in Tanzania

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

AvaTrade is our #1 choice for offering the best Islamic Trading Conditions in Tanzania. AvaTrade not only offers an Islamic account, but also offers Halal gold and silver, oil, indices, and forex trading to Muslim Tanzanian traders.

 

Best NFA and CFTC Broker that accepts Tanzanian Traders

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

FOREX.com is one of the best international brokers with multi-regulation through several entities, including the NFA and CFTC in the United States, instilling confidence in Tanzanian traders that they are dealing with a legit broker.

 

Best Expert Advisors Tanzanian Auto Traders

Overall Rating

4.8/5

Rated #7 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

154

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

CM Trading is our choice as the best broker that offers Expert Advisors to Auto Traders in Tanzania. Through MetaTrader 4, Tanzanian traders can either download purchase, or create EAs for their algorithmic trading strategies.

 

Best MetaTrader 4 and 5 Broker

Overall Rating

Min Deposit

USD 100 / 230,000 Tanzanian Shilling 

Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

MetaTrader 4 and 5 are two of the most popular trading platforms in the world and with Tickmill, Tanzanian traders have unlimited access to mobile trading, technical indicators, automated trading systems, an economic calendar, analytical tools, chart frames, and more.

 

Best Affiliate Broker in Tanzania

Overall Rating

Min Deposit

233200 TZS / $100

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

We chose BDSwiss’ affiliate program because it features the highest conversion rate of 37% and a 100% response rate, with responses in 13 seconds, or less. BDSwiss already has over 17,500 partners worldwide, and the broker has a high trust and low-risk score overall.

 

Highest Trust Score in Tanzania

Overall Rating

Min Deposit

Regulators

Trading Desk

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Because of its multi-regulation status with entities such as NFA, CTFC, and several others, the proven execution scorecard, and several other features, FOREX.com is the broker that has the highest trust score in Tanzania.

 

Best Overall Forex Broker in Lagos, Tanzania

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

We selected AvaTrade as the best broker in Lagos for several reasons including its 1,250 financial instruments that can be traded, range of powerful trading platforms, mobile trading apps, and competitive trading conditions.

 

Fastest Local Tanzanian Deposits

Overall Rating

Min Deposit

USD 0

Regulators

FSA, FCA, ASIC, DFSA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

66

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

 

Axi offers a wide range of deposit and withdrawal options to its clients, including local deposit methods for Tanzanian traders, ensuring that traders can fund their accounts quickly to start trading immediately after registration and account approval.

 

Best Market Analysis and Research for Advanced Tanzanian Traders

Overall Rating

Min Deposit

233200 TZS / $100

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Experienced Tanzanian traders need a range of trading and research tools to ensure that they can refine their trading and add the competitive edge that they need. With BDSwiss, Tanzanian traders can expect some of the best resources and tools including Real-Time Trading Alerts, Market Insights, Special Reports, AutoChartist, Currency Heatmaps, Daily Market Analysis, and several others.

 

Best Trading Education for Beginners in Tanzania

Overall Rating

Min Deposit

USD 5 / 230,000 Tanzanian Shilling

Regulators

FCA UK

Trading Platform

MT5, MT4, OctaTrader

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

We chose OctaFX as the best trading education for Tanzanian beginners because of the variety of educational materials that are made available to traders. Beginners can choose from webinars, articles, video courses, video tutorials, and more, to help them get started.

 

Lowest-risk CFD Broker for Tanzanian CFD Traders

Overall Rating

Min Deposit

USD100

Regulators

CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA

Trading Desk

WebTrader

Total Pairs

70

Crypto

Yes (Availability subject to regulations)

Trading Fees

Low

Account Activation Time

24 Hours

 

Plus500 is not only a leading online CFD platform but also a low-risk broker with an exceptionally high level of trustworthiness. Plus500 is well-regulated and all client funds are kept in segregated accounts.

 

Best Tanzanian Broker listed on the FTSE 250 Index

Overall Rating

Min Deposit

USD 100 / 41459 NGN

Regulators

CySec, ASIC, FCA, BVI FSC, FSCA

Trading Desk

MetaTrader 4, MetaTrader 5, Markets.com propietary platform

Crypto

Yes

Total Pairs

67

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Markets.com is not only a trusted and low-risk forex broker, but the broker is part of Finalto, a subsidiary of Playtech PLC, which is listed on the London Stock Exchange (LSE) and forms part of the FTSE 250 Index component, making this broker even more legit when compared to other brokers and competitors.

FAQ

 

Can I start trading forex in Tanzania with $100?

Yes, if you start trading micro, mini, and nano lots, you can register a Forex trading account and start trading with $100, and lower.

 

What should my risk-reward ratio be when I trade with $100?

Regardless of your minimum deposit, you must keep your risk-reward ratio at either 1:2 or 1:3, where you only risk 1% of your balance on a single trade, but expect twice or thrice the reward, respectively.

 

How much leverage should I use when I start trading Forex in Tanzania?

This depends on your unique trading strategy and your risk tolerance. However, new traders are urged to only trade with a maximum leverage ratio of 1:10.

 

What is the minimum maintenance margin for most forex brokers in Tanzania?

Most forex brokers in Tanzania have a maintenance margin of 100%. This refers to the minimum amount of equity that you need to keep in your trading account so that your positions can remain open. If you do not adhere to this, you will receive a margin call from your broker to urge you to top up your account before it reaches a level where a stop-out is applied and your positions are closed.

 

Which Forex Broker is the best for Beginner Tanzanian Traders?

AvaTrade is the best forex broker for Beginner Tanzanian traders because the broker offers unique trading solutions to all types of traders, a range of educational materials, a demo account, and more. 

10/10 - (1 vote)

Table of Contents