7 Best CFD Trading Platforms in Tanzania
The 7 Best CFD Trading Platforms in Tanzania revealed. We tested and verified the best CFD trading platforms for Tanzanian Traders.
This is a complete list of Tanzania’s best CFD trading platforms and forex platform brokers.
In this in-depth guide you’ll learn:
- What are CFD Trading Platforms?
- Who are the top CFD trading platform brokers?
- How to choose a forex broker – Compare them side by side against each other.
- Which brokers are best for beginner traders?
- Which broker offers a sign-up bonus for first-time traders?
- Which broker offers a low minimum deposit of $5 to Tanzanian traders?
And lots more…
So if you’re ready to go “all in” with the best-tested CFD Trading brokers for Tanzanians…
Let’s dive right in…
- Louis Schoeman
7 Best CFD Trading Platforms in Tanzania (2023)
- Exness – Overall, Best CFD Trading Platform Broker
- OANDA – Top Trading Platform for Tanzanians
- AvaTrade – Best Social Trading Broker in Tanzania
- IG – Best CFD Broker for Professional Traders
- Markets.com – Verified CFD Proprietary Trading Software
- Tickmill – Most Competitive Spreads for CFD’s
- IC Markets – User-Friendly True ECN CFD Broker
What is a CFD Trading Platform?
A CFD (Contract for Difference) trading platform is an online platform that enables traders to speculate on the price movements of financial instruments such as stocks, commodities, currencies, and indices without owning the underlying asset. Instead, traders buy or sell contracts that represent the asset’s price movement.
CFD trading platforms provide traders with access to various financial markets, real-time price quotes, charting tools, technical analysis indicators, and other trading tools. They also offer leverage, allowing traders to increase their exposure to the market with a smaller investment.
CFD trading platforms are popular among traders because they offer the potential for high returns with low capital requirements, although they also come with a higher level of risk.
Best CFD Trading Platforms in Tanzania – Comparison
| 🥇 Forex Broker | ✔️ Offers a CFD Trading Platform? | 💳 Minimum Deposit (TZS) | 📱 Tanzanian Shilling-based Account? | 💰 TZS Deposits Allowed? | 👉 Open An Account |
| 1. Exness | Yes | 209799 | Yes | Yes | 👉 Open Account |
| 2. OANDA | Yes | 0 | Yes | Yes | 👉 Open Account |
| 3. AvaTrade | Yes | 212358 | No | No | 👉 Open Account |
| 4. IG | Yes | 527058 | No | No | 👉 Open Account |
| 5. Markets.com | Yes | 209799 | No | No | 👉 Open Account |
| 6. Tickmill | Yes | 212358 | No | Yes | 👉 Open Account |
| 7. IC Markets | Yes | 4247170 | No | No | 👉 Open Account |
1. Exness
Overall Rating
- 4.9/5
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Exness is a reputable and licensed broker that offers low-risk CFD and Forex trading. With its market-leading trading conditions, such as spreads from 0.0 pips, Exness is well-known for providing exceptional trading services to its clients.
One of the key advantages of trading with Exness is its flexible and dynamic account types. These account types are tailored to suit the needs of different traders, whether they are beginners or experienced professionals. Additionally, Exness provides access to over 200 financial products, including major and minor currency pairs, metals, energies, and indices.
Another reason why Exness stands out from the crowd is its commitment to customer satisfaction. The company provides a range of retail account choices, which are designed to cater to the specific trading needs of its clients. Furthermore, Exness offers excellent customer support, ensuring that its clients have access to assistance whenever they need it.
In conclusion, Exness is a broker that delivers low spreads, exceptional trading conditions, and a wide range of financial products. With its dedication to customer satisfaction, Exness has established itself as a leader in the trading industry.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📲 Social Media Platforms | • Facebook • YouTube |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💳 Minimum Deposit (TZS) | 209799 |
| 💵 Trading Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📱 Tanzanian Shilling-based Account? | Yes |
| ✔️ TZS Deposits Allowed? | Yes |
| 💸 Bonuses for Tanzanian traders? | Yes |
| 📊 Minimum spread | From 0.0 pips EUR/USD |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness offers a selection of asset classes and trading accounts to Tanzanian traders | Exness does not currently have a comprehensive list of educational materials |
| Tanzanian traders can use TZN as their base account currency | There is a limited range of tradable instruments |
| Tanzanian traders can contact customer support 24 hours a day, 7 days a week | |
| Exness offers unlimited leverage ratios to traders | |
| MetaTrader 4 and 5 are offered across devices |
2. OANDA
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
OANDA is a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 1996 and is based in Canada, but it offers services to traders around the world.
OANDA offers a wide range of trading instruments, including over 70 currency pairs, commodities, indices, and bonds. It also offers access to MetaTrader 4, one of the most popular trading platforms in the world.
One of the key features of OANDA is its low minimum deposit requirement. Tanzanian traders can open an account with as little as $1, which makes it accessible to traders with different levels of experience and capital.
OANDA also offers a range of educational resources, including webinars, articles, and video tutorials, to help traders improve their skills and knowledge. It also provides a demo account that traders can use to practice their trading strategies without risking any real money.
In terms of regulation, OANDA is licensed by several regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investments Commission (ASIC).
Overall, OANDA is a reputable and established trading platform that offers a range of trading instruments, low minimum deposit requirements, and educational resources to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA |
| 📲 Social Media Platforms | • Facebook • YouTube |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | Standard Account, Core Account, Swap-Free Account |
| 📱 Trading Platform | MetaTrader 4, OANDA Platform, TradingView |
| 💳 Minimum Deposit (TZS) | 0 |
| 💵 Trading Assets | Index CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | Yes |
| 💸 Bonuses for Tanzanian traders? | Yes |
| 📊 Minimum spread | 0.1 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| OANDA delivers tailormade solutions to Tanzanian beginner and professional traders | An inactivity fee is charged on dormant accounts |
| There is no specific minimum deposit, giving traders flexibility over how much they want to invest or trade | There is no TZS-denominated account or local deposit and withdrawal options |
| OANDA supports reliable funding options | |
| There are competitive spreads offered and flexible trading platforms | |
| Advanced traders are granted a competitive edge with some of the best trading tools |
3. 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 a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 2006 and is headquartered in Dublin, Ireland, but it offers services to traders around the world.
AvaTrade offers a wide range of trading instruments, including over 50 currency pairs, commodities, indices, and stocks. It also offers access to several trading platforms, including MetaTrader 4 and its proprietary AvaTradeGO platform.
One of the key features of AvaTrade is its educational resources. It offers a range of educational materials, including webinars, ebooks, and video tutorials, to help traders improve their skills and knowledge. It also provides a demo account that traders can use to practice their trading strategies without risking any real money.
In terms of regulation, AvaTrade is licensed and regulated by several regulatory bodies, including the Central Bank of Ireland, the Financial Services Commission in the British Virgin Islands, and the Financial Sector Conduct Authority in South Africa.
AvaTrade also offers several account types to cater to the needs of different traders, including a standard account, a professional account, and a demo account.
Overall, AvaTrade is a reputable and established trading platform that offers a range of trading instruments, educational resources, and account types to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| 📲 Social Media Platforms | • Instagram • YouTube |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📱 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💳 Minimum Deposit (TZS) | 212358 |
| 💵 Trading Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | No |
| 💸 Bonuses for Tanzanian traders? | Yes |
| 📊 Minimum spread | From 0.9 pips EUR/USD |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is a comprehensive and popular CFD and forex broker that is regulated by several entities | Inactivity fees apply |
| AvaTrade offers personalized trading conditions to Muslim traders who want an Islamic trading account | There are no variable spread accounts offered |
| AvaTrade offers extensive resources to beginner and professional traders | There is a limited choice between retail trading accounts |
| There are several trading platforms offered to Tanzanian traders | Currency conversion fees may apply when traders deposit in TZS |
| There is ample social trading offered through AvaTrade |
4. IG
Overall Rating
- 4.8/5
Min Deposit
USD0
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
IG is a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 1974 and is headquartered in London, UK, but it offers services to traders around the world.
IG offers a wide range of trading instruments, including over 80 currency pairs, commodities, indices, shares, and cryptocurrencies. It also offers access to several trading platforms, including its proprietary web-based platform and MetaTrader 4.
One of the key features of IG is its educational resources. It offers a range of educational materials, including webinars, articles, and video tutorials, to help traders improve their skills and knowledge. It also provides a demo account that traders can use to practice their trading strategies without risking any real money.
In terms of regulation, IG is licensed and regulated by several regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
IG also offers several account types to cater to the needs of different traders, including a standard account, a professional account, and a demo account.
Overall, IG is a reputable and established trading platform that offers a range of trading instruments, educational resources, and account types to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📲 Social Media Platforms | • LinkedIn • YouTube |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | United Kingdom Accounts, European Accounts (excluding UK and Switzerland), Australian Accounts, Switzerland, South Africa, Singapore, and New Zealand Accounts, Dubai Accounts, Japan Accounts, US (IG) Accounts, USA (NADEX) Accounts |
| 📱 Trading Platform | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💳 Minimum Deposit (TZS) | 527058 |
| 💵 Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | No |
| 💸 Bonuses for Tanzanian traders? | No |
| 📊 Minimum spread | From 0.1 pips DMA |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IG is a well-regulated CFD and forex broker and a global name in the trading industry | There are deposit fees applied to funding options |
| Traders have access to trading accounts for their specific region | The minimum deposit is higher than that of competitors |
| There are flexible trading and non-trading fees that cater for all types of traders | Islamic accounts are only available to Dubai residents |
| Tanzanian traders have access to a large range of markets | IG only offers a few payment methods that can be used by Tanzanian traders for deposits and withdrawals |
| There is an impressive portfolio of trading platforms offered | There is no TZS-denominated account or deposit currency |
5. 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 a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 2010 and is headquartered in Cyprus, but it offers services to traders around the world.
Markets.com offers a wide range of trading instruments, including over 2,000 currency pairs, commodities, indices, shares, and cryptocurrencies. It also offers access to several trading platforms, including MetaTrader 4 and its proprietary Marketsx platform.
One of the key features of Markets.com is its educational resources. It offers a range of educational materials, including webinars, articles, and video tutorials, to help traders improve their skills and knowledge. It also provides a demo account that traders can use to practice their trading strategies without risking any real money.
In terms of regulation, Markets.com is licensed and regulated by several regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC).
Markets.com also offers several account types to cater to the needs of different traders, including a standard account, a professional account, and a demo account.
Overall, Markets.com is a reputable and established trading platform that offers a range of trading instruments, educational resources, and account types to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC, FSCA, FCA, BVI FSC |
| 📲 Social Media Platforms | • Facebook • YouTube |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | MarketsX, Marketsi, MetaTrader 4, MetaTrader 5, MarketsX App |
| 📱 Trading Platform | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💳 Minimum Deposit (TZS) | 209799 |
| 💵 Trading Assets | Shares, Bonds, Cryptocurrencies, Forex, Primary CFDs, ETFs, Indices, Blends, Commodities |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | No |
| 💸 Bonuses for Tanzanian traders? | No |
| 📊 Minimum spread | 0.8 pips EUR/USD |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Markets.com offers over 2,200 financial instruments that can be traded, including CFDs | The proprietary trading platform could be too simplified for advanced traders |
| Tanzanian traders have access to a range of educational materials | Tanzanian traders cannot register an account with TZS as the base account currency |
| Commission-free trading is offered | An inactivity fee is applied to dormant accounts |
| Markets.com offers competitive trading conditions | Tanzanian traders do not have any local payment options for deposits or withdrawals |
| Tanzanian traders have the option of converting a live trading account into that an Islamic account |
6. 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
Tickmill is a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 2014 and is headquartered in Seychelles, but it offers services to traders around the world.
Tickmill offers a wide range of trading instruments, including over 60 currency pairs, commodities, indices, and bonds. It also offers access to several trading platforms, including MetaTrader 4 and its proprietary WebTrader platform.
One of the key features of Tickmill is its low spreads and commissions. It offers some of the lowest spreads in the industry, which can help traders save on trading costs.
In terms of regulation, Tickmill is licensed and regulated by several regulatory bodies, including the Seychelles Financial Services Authority (FSA), the Financial Conduct Authority (FCA) in the UK, and the Cyprus Securities and Exchange Commission (CySEC).
Tickmill also offers several account types to cater to the needs of different traders, including a classic account, a pro account, and a demo account.
Overall, Tickmill is a reputable and established trading platform that offers a range of trading instruments, low trading costs, and account types to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📲 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💳 Minimum Deposit (TZS) | 212358 |
| 💵 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | No, only USD, GBP, EUR, IDR, CNY, VND, or RUB |
| 💸 Bonuses for Tanzanian traders? | Yes |
| 📊 Minimum spread | 0.8 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Tickmill is reputable and has a high trust score | There is no TZS-denominated account offered to Tanzanian traders, which may subject them to currency conversion fees |
| Tickmill offers a choice between a dynamic retail account and offers an Islamic account to Muslim Tanzanian traders | The spreads which are offered are not the tightest |
| Tickmill caters extensively for advanced Tanzanian traders by offering AutoChartist, VPS< and FIX API | |
| Commission-free trading is offered and there are no fees on either deposits or withdrawals |
7. IC Markets
Overall Rating
- 4.7/5
Min Deposit
USD 200
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
IC Markets is a forex and CFD trading platform that is available to Tanzanian traders. It was founded in 2007 and is headquartered in Sydney, Australia, but it offers services to traders around the world.
IC Markets offers a wide range of trading instruments, including over 60 currency pairs, commodities, indices, and cryptocurrencies. It also offers access to several trading platforms, including MetaTrader 4, MetaTrader 5, and its proprietary cTrader platform.
One of the key features of IC Markets is its low spreads and fast execution speeds. It offers some of the lowest spreads in the industry, and its servers are located in Equinix data centers, which can help to ensure fast and reliable execution.
In terms of regulation, IC Markets is licensed and regulated by several regulatory bodies, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
IC Markets also offers several account types to cater to the needs of different traders, including a standard account, a raw spread account, and a demo account.
Overall, IC Markets is a reputable and established trading platform that offers a range of trading instruments, low trading costs, and fast execution speeds to Tanzanian traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC, FSA, SCB |
| 📲 Social Media Platforms | • Facebook |
| ⚖️ TZS Regulation? | No |
| 💻 Trading Accounts | cTrader Account, Raw Spread Account, Standard Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader |
| 💳 Minimum Deposit (TZS) | 4247170 |
| 💵 Trading Assets | Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures |
| 📱 Tanzanian Shilling-based Account? | No |
| ✔️ TZS Deposits Allowed? | No |
| 💸 Bonuses for Tanzanian traders? | No |
| 📊 Minimum spread | 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IC Markets has a high trust score and a decent market share in Tanzania, despite the competition that it faces with other brokers in the region | There is a high initial deposit requirement |
| IC Markets offers a choice between three powerful, popular trading platforms and the benefit that mobile trading apps are supported by all three | There could be currency conversion fees when Tanzanian traders deposit funds in TZS |
| IC Markets has a true ECN model and allows any type of trading strategy | There is no TZS-denominated trading account |
| Advanced traders have access to FIX API when they use cTrader | |
| IC Markets is known for its low trading and non-trading fees | |
| Tanzanian traders have access to a demo account and Islamic Account conversion option when they trade using IC Markets |
A Dive into the Details behind Contract for Differences
A Contract for Differences (CFD) is a financial contract that allows two parties to speculate on the price movements of an underlying asset, without actually owning the asset. The parties involved in a CFD are typically a buyer and a seller, and the contract is settled in cash.
CFDs are often used in financial trading, where the buyer and seller agree to exchange the difference in value of the underlying asset between the opening and closing of the contract. This means that the buyer can profit if the price of the underlying asset increases, while the seller can profit if the price of the underlying asset decreases.
CFDs can be used to speculate on a wide range of financial assets, including stocks, commodities, currencies, and indices. They are often used by traders who want to take advantage of short-term price movements in the market, without actually owning the underlying asset.
One advantage of CFDs is that they allow traders to use leverage, which means that they can trade with larger positions than they would be able to with their own capital. However, trading with leverage also increases the risk of losses.
CFDs are typically traded through a broker, who acts as an intermediary between the buyer and seller. The broker charges a commission or spread on the trade, which is how they make money from the transaction.
It’s important to note that CFDs are a high-risk form of trading and may not be suitable for everyone. It’s important to understand the risks involved and to only trade with money that you can afford to lose.
How to Choose a Forex Broker
Choosing a forex broker is an important decision for any trader, as it can significantly impact their trading experience and profitability. Here are some factors to consider when choosing a forex broker:
Regulations and Licenses
It’s important to choose a broker that is regulated by a reputable financial authority in their home country or the country where they operate. This provides a level of protection for traders, as regulated brokers must adhere to certain standards and rules.
Trading platforms
The broker’s trading platform should be user-friendly, reliable, and offer a range of tools and features that suit the trader’s needs. Traders should consider whether the platform is available on desktop and mobile devices and whether it offers access to a range of financial instruments.
Spreads and fees
Traders should compare spreads and trading fees across different brokers to find the most competitive pricing. While low spreads can be beneficial, traders should also consider other fees such as commissions and swap rates.
Customer support
The broker should offer responsive and helpful customer support that is available through multiple channels, such as phone, email, and live chat.
Educational resources
The broker should provide educational resources such as webinars, tutorials, and market analysis to help traders improve their skills and knowledge.
Deposit and withdrawal options
Traders should consider the broker’s deposit and withdrawal options and ensure that they support their preferred payment methods.
Reputation
Traders should research the broker’s reputation online and look for reviews from other traders to get an idea of their experience with the broker.
By considering these factors, traders can choose a forex broker that meets their needs and helps them achieve their trading goals.
Best CFD Brokers in Tanzania in 2023
Tanzanian Broker with the largest range of tradable assets
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 accommodates all kinds of traders and offers comprehensive and unique solutions. Part of its chart is attributable to the large range of tradable assets which are available across third-party and proprietary trading platforms and mobile apps.
Best and Award-Winning Proprietary Trading Platform for Tanzanian
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
OANDA has our vote as an award-winning broker that offers one of the best trading platforms in the industry. With the OANDA platform, you can trade across all available asset classes, access your trading account, and use a range of sophisticated functions, analysis, features, tools, and more.
Best Commission-Free Trading Account Broker in Tanzanian
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
Tanzania traders who are looking for the best way to reduce their trading costs can explore what Markets.com offers. Markets.com is known for offering commission-free trading along with competitive spreads on all trading instruments.
Best Proprietary Trading Software for Beginner Tanzanians
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 does not only offer one proprietary trading platform, but two. This allows Tanzania traders to explore both trading and investing simultaneously. Markets.com offers its trading platforms over a range of devices and the MarketsX platform is available for mobile use.
Best Social Trading Broker 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 a remarkable forex and CFD broker that offers access to a range of CFD instruments and a choice of trading platforms through which they can be traded. AvaTrade offers some of the best social trading opportunities to Tanzanian traders across devices, including mobile trading apps.
Best true ECN Broker in Tanzania
Overall Rating
- 4.7/5
Min Deposit
USD 200
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Trading with a broker that offers ECN execution has many benefits and Tanzanians need not look further than IC Markets for the best true ECN broker. IC Markets is well-regulated and offers some of the most competitive trading conditions in the CFD trading industry.
Best CFD Broker for Professional Traders
Overall Rating
- 4.8/5
Min Deposit
USD0
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
IG Markets is not only a flexible broker that offers a range of trading opportunities, but the broker also hosts a range of unique solutions and trading platforms that cater for professional Tanzanian traders.
Best Affiliate Program Broker in Tanzania
There are many advantages of signing up for an affiliate program with a CFD broker. Tanzanians will find that Exness offers an attractive affiliate program that pays up to $1,770 in commissions according to the referrals. In addition, Tanzanian affiliates can earn up to $25 for every referral that signs up for an account.
Best Trading Platform for Tanzanian Mobile Traders
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
OANDA is well-known for its award-winning trading software which includes a flexible mobile app. The mobile app offers Tanzanians a complete suite of advanced charting options, analysis, performance metrics, and updated market news and analysis.
FAQ
What is the meaning of “CFD”?
Online trading brokers create a Contract for Difference to track the real-time price of an underlying asset or financial instrument. A CFD allows you to speculate on the price movements of this instrument without taking ownership of the asset or instrument.
What are the benefits associated with CFDs?
Some of the benefits associated with CFDs include leveraged trading and the fact that they can be traded 24 hours a day using a range of trading strategies. In addition, with CFDs, Tanzanian traders do not need a significant amount of capital to start trading.
Which is the best trading software for CFD trading in Tanzania?
cTrader, MetaTrader 4, and MetaTrader 5 are three of the best trading platforms for Tanzanian CFD traders.
Which Forex Broker in Tanzania offers the most CFD instruments?
IG is one of the most prominent CFD trading brokers that offers over 17,000 financial instruments, including a wide range of CFDs.
How do CFD Trading Platforms make money?
CFD Platforms that offer commission-free CFD trading in Tanzania will make their fees from the spread.
Which CFDs can I trade online in Tanzania?
You can trade anything from forex to stocks, indices, cryptocurrencies, bonds, interest rates, exchange-traded funds, commodities, and much more.
Can I make money trading CFDs?
Yes, you can be profitable when you trade CFDs. However, CFD trading is a very risky trading strategy that is done by more advanced traders.
How do I short-sell with CFDs?
You do this when you believe that a financial instrument’s price will depreciate instead of appreciating. You do not buy low and sell high but instead, you sell high and buy low, allowing you to profit from the depreciation of the underlying instrument.
