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…
- Louis Schoeman
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 |
| AvaTrade | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| RoboForex | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| Markets.com | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| Tickmill | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| CM Trading | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| BD Swiss | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| Forex.com | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
| Plus500 | 213,01 Shilling or equivalent to $100 | Unlimited | No | No | 👉 Open Account |
10 Best Forex Brokers in Tanzania
Rank
Broker
Review
Regulators
Min Deposit
Official Site
9 Best Tanzanian Forex Brokers with a Minimum 100 USD Deposit (2023)
- AvaTrade – Overall, Best Minimum 100USD Deposit Broker
- OctaFX – Best Trading Education for Beginner Traders
- Markets.com – Best Tanzanian Broker on the FTSE 250 Index
- Tickmill – Best MT4 and MT5 Trading Account
- CM Trading – Best Expert Advisers for Tanzanians
- BDSwiss – Best Liquidity Broker in Tanzania
- FOREX.com – Best NFA and CFTC Broker
- Plus500 – Lowest Risk CFD Broker for Tanzanian
- Axi – Fastest Local Tanzanian Deposits
1. AvaTrade
Overall Rating
- 4.9/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, ZAR, GBP, AUD |
| 📊 Max Leverage Ratio | 1:400 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | One Retail Account, Professional Account |
| 💻 Trading Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 50% on Retail, 25% on AvaOptions |
| 🛑 Stop-Out | 10% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated in several regions and is approved to provide trading solutions to Tanzanian traders | There 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 traders | There are inactivity fees charged on dormant accounts |
| There is dedicated Islamic trading offered to Muslim Tanzanian traders | Tanzanian 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
- 4.6/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, EUR |
| 📊 Max Leverage Ratio | 1:500 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 💻 Trading Assets | Forex, Index CFDs, Commodities, Cryptocurrencies, Energies, Precious Metals |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 25% |
| 🛑 Stop-Out | 15% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| OctaFX has local offices in Tanzania, making it one of the best local forex brokers in the country | There is no Shilling-denominated account |
| OctaFX offers a comprehensive copy trading mobile app to Tanzanian | There is a limited choice between trading accounts |
| There are commission-free trades offered | There 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
- 4.7/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, GBP, EUR, AUD |
| 📊 Max Leverage Ratio | 1:300 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰Tanzanian Customer Support? | No |
| 📊 Account Types | MarketsX Account, Marketsi Account |
| 💻 Trading Assets | Shares, Bonds, Cryptocurrencies, Forex, Primary CFDs, ETFs, Indices, Blends, Commodities |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 50% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Markets.com is extremely well-regulated in several regions | Markets.com does not offer a Shilling-denominated account |
| Tanzanian traders have a large range of markets that they can trade | There are no local deposits or withdrawals for Tanzanian traders |
| There is commission-free trading offered | An 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
- 4.7/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, EUR, GBP |
| 📊 Max Leverage Ratio | 1:500 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | Pro Account, Classic Account, VIP Account |
| 💻 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 30% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Tickmill offers Tanzanian a choice between three retail accounts, each intended for a different trading skill level | There are no fixed spreads offered |
| There are several flexible funding methods offered to Tanzanian | There 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
- 4.8/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, EUR, GBP |
| 📊 Max Leverage Ratio | 1:200 |
| 💸 Shilling Deposits Allowed? | Yes |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | Bronze Account, Silver Account, Gold Account, Premium Account |
| 💻 Trading Assets | Currency trading, Stocks, Indices, Cryptocurrencies, Commodities, CFDs |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 20% |
| 🛑 Stop-Out | – |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| CM Trading has a high level of trustworthiness | There is an inactivity fee applied to dormant accounts |
| CM Trading offers advanced traders a range of trading tools | Deposit 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
- 4.7/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, EUR, GBP |
| 📊 Max Leverage Ratio | 1:1000 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | Classic Account, Premium Account, VIP Account, RAW Account |
| 💻 Trading Assets | Forex, Commodities, Shares, Indices, Cryptocurrencies |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 50% |
| 🛑 Stop-Out | 20% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| BDSwiss offers commission-free trading | There is no Tanzanian specific trading terminal offered |
| Tanzanian CFD traders can choose between 250 CFDs across asset classes | There are withdrawal fees charged |
| There is a high leverage ratio offered | Tanzanian Shilling deposits are not accepted |
| BDSwiss offers MetaTrader 4 and 5 across devices | There is no TZS-denominated account offered |
| There are no deposit fees charged |
7. FOREX.com
Overall Rating
- 4.7/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, GBP, EUR, CHF, JPY, NZD |
| 📊 Max Leverage Ratio | 1:400 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | Standard Account, Commission Account, Direct Market Access (DMA) Account |
| 💻 Trading Assets | Forex, Indices, Stocks, Commodities, Precious Metals, Cryptocurrencies, Energies |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FOREX.com is highly trusted because of its NFA and CFTC regulation, among other authorizations and licenses | Inactivity fees are charged on inactive and dormant accounts |
| FOREX.com has an execution scorecard | Currency conversion fees apply |
| Tanzaniantraders can access a Direct Market Access (DMA) Account | There 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
- 4.9/5
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
| Feature | Value |
| 📉 Minimum Deposit | 213,01 Shilling or equivalent to $100 |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | USD, GBP, ZAR, EUR |
| 📊 Max Leverage Ratio | 1:30 |
| 💸 Shilling Deposits Allowed? | No |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | One Standard Account |
| 💻 Trading Assets | Indices, Forex, Commodities, Cryptocurrencies, Shares, Options, Exchange-traded funds (ETFs) |
| ✔️ Negative Balance Protection? | Yes |
| 📞 Margin Call | Depends on the Maintenance Margin |
| 🛑 Stop-Out | 1% less than the Maintenance Margin |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Plus500 is known as the best CFD broker with a proprietary trading platform | There is restricted maximum leverage in most regions |
| Commission-free trading is offered | There is no desktop version of the proprietary trading platform |
| Deposit fees are not charged | There are restrictions on the trading strategies that Tanzanian traders can use |
| There are over 2,000 CFDs that can be traded | Guaranteed 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
- 4.8/5
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
| Feature | Value |
| 📉 Minimum Deposit | Not fixed, anything from 0 TZS upwards |
| 📈 Maximum Deposit | Unlimited |
| 💵 Account Base Currencies | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD |
| 📊 Max Leverage Ratio | 1:30 Retail, 1:400 Professional |
| 💸 Shilling Deposits Allowed? | Yes |
| ✔️ Offers a Shilling Account? | No |
| 💰 Tanzanian Customer Support? | No |
| 📊 Account Types | Standard Account, Pro Account, Elite Account |
| 💻 Trading Assets | Forex, Share CFDs, Indices, Commodities, Energies, Precious Metals, Cryptocurrency CFDs |
| ✔️ Negative Balance Protection? | No |
| 📞 Margin Call | 90% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Axi has a good reputation and is an extremely low-risk broker | Inactivity fees apply to dormant accounts |
| Tanzanian can make deposits and withdrawals in Tanzanian Shilling | Retail clients can only use leverage up to 1:30 |
| Axi does not charge any account fees | There are deposit and withdrawal fees charged on the supported payment methods |
| Axi offers MetaTrader 4 across devices including mobile trading apps for iOS and Android | There is only one trading platform offered |
| There are several advanced tools for experienced Tanzanian traders including AutoChartist, MetaTrader 4 NextGen, and others | The 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
- 4.7/5
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
- 4.9/5
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
- 4.7/5
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
MetaTrader 4
Yes
154
Islamic Account
Yes
Trading Fees
Low
24 Hours
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
- 4.7/5
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
- 4.7/5
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
- 4.7/5
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
- 4.9/5
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
- 4.8/5
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
- 4.7/5
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
- 4.6/5
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
- 4.9/5
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
- 4.7/5
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.
