7 Best Cent Account Forex Brokers in Tanzania
The 7 Best Cent Account Fore Brokers for Tanzanians revealed. We tested the best forex trading platforms for Tanzanian Traders.
This is a complete guide to cent account brokers in Tanzania.
In this in-depth guide you’ll learn:
- What is a Cent Account?
- Which forex brokers offer cent accounts to Tanzanian traders?
- What is the difference between a cent account and a micro account?
- How to compare the best cent accounts against each other.
- Which Cent Accounts are best for beginner Tanzanian Traders?
- Which brokers offer a sign-up bonus for first-time traders on Cent accounts?
- What is an ECN Cent account?
- Which brokers offer a low minimum deposit of $5 (11 695 TZS) to start trading?
- What is the minimum withdrawal on Cent Accounts?
- What do lot sizes have to do with Cent Accounts?
And lots more…
So if you’re ready to go “all in” with the best cent account forex brokers…
Let’s dive right in…
- Lesche Duvenage
Best Cent Account Forex Brokers in Tanzania
| 🥇 Broker | ✔️ Cent Account Forex Broker? | 💰 Minimum Deposit | 💸 Tanzanian Shilling Deposit Allowed? | 👉 Open Account |
| 1. Exness | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 2. FBS | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 3. HF Markets | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 4. XM | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 5. FP Markets | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 6. AvaTrade | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 7. Oanda | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
7 Best Cent Account Forex Brokers in Tanzania
- Exness – Overall, Best Cent Account Forex Broker in Tanzania
- FBS – Top Sign-Up Bonus in Tanzania
- HF Markets – Best STP Forex Broker
- XM – Top ECN Forex Broker
- FP Markets – Best MetaTrader 4/MT4 Forex Broker
- AvaTrade – Top Volatility 75/VIX75 Forex Broker
- Oanda – Top NASDAQ100 Forex Broker in Tanzania
What is a cent account Forex broker?
👉 Traders interested in dealing in the smallest possible currency denominations can open a “cent account” with some Forex brokers. This represents roughly 0.001 percent of a typical lot. This type of account allows traders to enter the market with a small outlay of capital.
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 low-risk choice for those interested in CFDs and Forex trading, as is licenced and regulated by a number of authoritative bodies. Exness is a favourite among Forex traders due to its large selection of retail account types (including a cent account) and low spreads.
👉 Since its founding in 2008, Exness has grown to become a trading platform used by millions of people every day. This user-friendly website has been translated into 18 additional languages for the convenience of international traders. Every day of the week, at any hour, and in 13 different languages, help is at your disposal.
👉 Exness is one of the most well-liked brokers in Tanzania, despite the fact that it is not yet licenced by the Bank of Tanzania (BoT).
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 💻 CBN 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) | 23 340 TZS ($10) |
| 💵 Trading Assets | Forex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks |
| 🔎 Tanzanian-based Account? | No |
| 💳 TZS Deposits Allowed? | Yes |
| 💰 Bonuses for Tanzanian traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✅ Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness is a reputable international broker authorized by several reputable market regulators | There is a limited selection of tradable instruments in only a few financial markets |
| The broker offers some of the tightest spreads across all types of accounts | There is a limited selection of funding options offered |
| There are several account types to choose from, each accommodating different types of traders | |
| There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more. | |
| Exness is ideal for any Tanzanian beginner traders and institutional investors | |
| There are solutions offered for any type of professional trader who needs advanced options | |
| There is a powerful proprietary mobile app offered | |
| Client fund safety and investor protection is guaranteed | |
| Multilingual 24/7 customer support is offered | |
| Instant withdrawal methods are available |
2. FBS
Overall Rating
- 4.7/5
Min Deposit
USD 1
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 (326 410 TZS)
Account Activation Time
24 Hours
Overview
👉 FBS was founded in 2009 and has since become one of the most reputable CFD brokers in Tanzania. It provides its clients with a number of trading account types, including a penny account, and uses a proprietary trading platform that is both innovative and highly effective.
👉 Using a combination of Straight Through Processing (STP), an Electronic Communications Network (ECN), and other data processing technologies, FBS is able to meet the requirements of CySEC, ASIC, FSCA, and IFSC in more than 150 jurisdictions around the world. Traders can rest easy knowing that their funds are segregated from FBS’s operating capital and maintained in a secure environment.
👉 Despite not being regulated by the Bank of Tanzania (BoT), FBS is a fantastic choice for Tanzanian traders of all skill levels and trading styles.
👉 In order to help its traders succeed, FBS provides them with a wide range of educational tools, such as low initial deposit requirements and extensive video, webinar, and article databases.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IFSC, CySEC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Tanzanian Traders? | Yes |
| 💳 Minimum deposit (TZS) | 2300 Tanzanian Shillings ($1) |
| 📊 Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:3000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FBS offers competitive trading conditions with some of the lowest spreads | There are wide spreads charges on some accounts |
| There are several account types to choose from | There is a limited number of tradable instruments |
| There are many social trading opportunities | There are several regional restrictions applied |
| There is an ultra-low minimum deposit requirement | |
| The broker is well-regulated and trusted |
3. HF Markets
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Trading conditions, retail investor accounts, client money security, and customer support for HF Markets (formerly HotForex), a low-risk CFD and FX broker popular among Tanzanian traders, were all rated 9 out of 10.
👉 HF Markets is proud to be a MetaTrader broker, and they provide versions 4 and 5 of the MetaTrader platform. HF Markets accepts retail investor accounts from all experience levels and types of traders, including novices and seasoned pros looking for an edge.
👉 Each account type caters to retail traders with a different set of needs and features, based on their own trading preferences, experience, and investment aims.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
| 💻 CBN Regulation? | No |
| 📊 Trading Accounts | MT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 💵 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit (TZS) | 11 670 Tanzanian Shillings ($5) |
| 📱 Trading Assets | Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 🔎 Tanzanian Naira-based Account? | No |
| 💳 TZS Deposits Allowed? | No |
| 💰 Bonuses for Tanzanian traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated in several global regions | There are no variable spread accounts |
| Offers some of the lowest spreads in the forex market on major currency pairs | There is a limited selection of funding options and withdrawal methods. |
| There are several account types to choose from | |
| HotForex accommodates all types of traders despite their trading strategies | |
| Low minimum deposit requirement | |
| Beginner traders and professional investors are both welcome | |
| Educational tools, advanced trading tools, and several other comprehensive solutions are offered | |
| There is a comprehensive market analysis offered | |
| Technical analysis and fundamental analysis offered |
4. XM
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Forex trading was first made available through XM in 2009. XM is a reliable CFD and Forex broker, with a trust score of 84% and an overall rating of 9/10, making it an excellent choice for Tanzanian traders.
👉 Safety, assistance, account funding, and low charges are just a few of the many areas in which XM shines, and they are all highly valued by traders.
👉 XM is a fantastic choice if you’re thinking about entering the trading industry or if you’re already in the industry but want to enhance your career. With locations in over 200 countries and a support staff fluent in 30 tongues, it is among the most reliable and safely regulated brokerages.
👉 Although the IFSC regulates the broker’s primary office in Belize, it also maintains branch offices in other jurisdictions to better serve its clientele.
👉 XM is a trustworthy trading platform since it eliminates the chance of human error during order execution while maintaining strong compatibility with MetaTrader 4 and 5.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Tanzanian Traders? | Yes |
| 💳 Minimum deposit (NGN) | 2,000 Tanzanian Naira ($5) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:888 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Negative balance protection is applied to retail investor accounts | US clients are restricted from accessing XM’s trading services |
| There are several secure payment methods to choose from | There are no fixed spread accounts offered |
| The broker is known for low spreads, low commissions, and reliable trade execution speeds | There is an inactivity fee applied to dormant accounts |
| Traders can use hedging, scalping, and expert advisor trading strategies | |
| The broker offers personal customer service to its clients |
5. FP Markets
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 233 174 TZS
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 FP Markets is a first-rate MetaTrader broker. With over 8,000 items available on the trading platform, FP Markets is one of the most competitively priced brokers available to traders throughout the world.
👉 Virtual private server (VPS) hosting for automated trading solutions, copy trading through the MT4 Myfxbook service, and retail account management with the MT4 MAM/PAMM module are just a few of the value-added services provided by FP Markets.
👉 As a result of its rapid expansion in recent years, FP Markets is now well-positioned to meet the rising demand for this service among retail traders. Brokers like FP Markets who invest in social trading are clearly dedicated to providing the greatest experience for their customers.
👉 FP Markets is a broker that serves customers all over the world despite the fact that it is not regulated by the Bank of Tanzania (BoT). Instead, it is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
Unique Features
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Floating, from 1 pip |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious Metals • Indices • Commodities |
| 📊 Maximum Leverage Ratio | 1:500 |
| 💻 Execution Type | ECN |
| 💰 Commissions | None |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is an Australian-based broker with Tier-1 regulation through ASIC and Tier-2 regulation through its CySEC | There are no fixed spread accounts available from FP Markets |
| FP Markets offers a massive range of markets that can be traded through powerful trading platforms and mobile apps | Withdrawal fees apply to several payment methods |
| Tanzanian traders can expect ECN trade execution, minimal slippage, and no requotes | There are additional administrative charges applied to the Islamic accounts to offset the absence of overnight fees |
| FP Markets accommodates and welcomes Muslim traders by offering dedicated Islamic accounts with competitive trading conditions | |
| FP Markets provides a range of useful trading tools | |
| There are several educational materials offered to beginner Tanzanian traders | |
| There is a comprehensive and attractive affiliate program offered |
6. 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 was established in 2006 and provides CFD and FX trading. Besides its headquarters in Dublin, the corporation has branches in Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Tanzania, Santiago, and Johannesburg.
👉 European, British Virgin Islands, Australian, Japanese, and South African regulators all keep an eye on AvaTrade.
👉 The AvaTradeGO app satisfies the standards set by the company itself because it can be used from any location, has a user-friendly interface, and allows for cutting-edge trading techniques.
👉 Despite the inherent dangers of online trading, AvaTrade stands out for its dedicated support staff and solid financial standing.
👉 Trading professionals of all stripes can take advantage of the company’s extensive platform and services with the help of the firm’s round-the-clock, multilingual support desks. Foreign currency (Forex), stocks, commodities, indices, and more are all accessible with AvaTrade.
👉 Although AvaTrade is neither licenced or regulated by the Bank of Tanzania (BoT) and does not have a local office in the nation, it is nonetheless a reputable and highly recommended broker for Tanzanian traders who wish to trade on the global financial markets.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 💻 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (TZS) | 233 400 Tanzanian Shilling ($100) |
| 💵 Trading Assets | Foreign currencies, 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 | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
7. 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
👉 The first OANDA exchange was launched in 1996. OANDA is a leading online broker, trading platform, and currency converter for retail foreign exchange (FX) and contract for difference (CFD) traders across the world.
👉 With its attractive trading conditions, proprietary platform, and high-quality trading solutions, OANDA is appealing to many traders in Tanzania.
👉 OANDA’s website has helpful materials for both seasoned traders and novices in Tanzania.
👉 In addition to a history of verified regulatory oversight, OANDA’s strengths include fast and dependable transaction execution, broad research resources, user-friendly interfaces, and ease of use.
Unique Features
| Account Feature | Value |
|---|---|
| ✔️ Full Account Verification Needed? | No, not for account deposits under 3,753,090 NGN |
| 📈 Average Spreads | Variable, from 1 pip |
| 🔎Commissions (Per 1 mil traded) | None |
| 📈 Maximum Leverage | 1:200 |
| ✴️ Minimum lot size | 0.01 lots |
| 📊 Instruments | 81 |
| 🔎Stop-Out | 50% |
| 🌐 One-Click Trading offered? | Yes |
| 📈 Strategies allowed | All |
| 📊 Base Account Currency | USD, EUR, HKD, SGD |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Proprietary desktop trading platforms offered alongside MetaTrader 4 and 5 | Fixed spreads are not offered |
| Offers an impressive array of financial instruments including most currency pairs | There is a monthly inactivity fee applied |
| Innovative mobile trading apps and mobile platforms provided | |
| There are several advanced charting tools and charting features offered | |
| Negative balance protection is applied to accounts | |
| The broker accepts a wide range of trading strategies including algorithmic trading, hedging, scalping, and more | |
| There is a comprehensive range of trading tools and analytical tools offered | |
| Deposit fees are not charged and there are several deposit options | |
| Offers a decent selection of educational materials including educational articles | |
| Client funds are kept in segregated accounts |
How to choose a cent account Forex broker in Tanzania
👉 Brokers connect investors with exchanges where they may purchase and sell currencies. Therefore, choosing a trustworthy CFD broker is necessary before beginning to trade products like the VIX 75.
👉 Furthermore, Tanzanian traders must evaluate the following components of a CFD broker to decide whether the broker is suited to their unique trading objectives and needs.
Regulation
👉 Ensuring that you only use the services of a well-regulated broker is a crucial factor when you choose a CFD broker that offers VIX 75. Regulation ensures that the broker will ensure client fund security and that disputes will be managed effectively.
👉 Furthermore, regulation ensures that client funds are only used for trading activities and that the broker can fulfil its financial obligations towards its clients.
Trading Platform
👉 Traders in Tanzania should put money into a trading platform they feel confident using. Before registering a live trading account with a CFD broker, be sure the trading platform meets your needs.
Leverage Ratios
👉 The CFD market is often leveraged to allow traders to open larger positions with less capital. However, to effectively manage a trading position and account, it is crucial to understand your leverage limit.
👉 Your broker should offer flexible leverage, allowing you to choose a ratio according to your trading strategy and risk tolerance.
The ability to use Scalping Strategies
👉 If you are interested in high-frequency CFD day trading, ensure that trading styles are not restricted. For example, a broker who engages in scalping has no minimum time requirement between the market price, the stop-loss, and the take-profit.
Custom Trading Tools
👉 Brokers that care about their clients should provide them with helpful services. These aids are designed to make it easier for Forex and CFD traders to maximize their profits.
Trader Education
👉 Most CFD brokers provide their clients with educational materials and opportunities to attend seminars. However, for new traders, familiarity with the jargon is crucial. Therefore, choosing a broker that also offers educational resources is best.
Trade Execution Quality
👉 When searching for a broker, it is important to choose one that can guarantee your orders will be executed at the exact price you specify.
Spreads and Fees
👉 Selecting a broker with the tightest Volatility 75 spreads is usually the best strategy. While important, this element alone should not be used to decide; rather, it should be weighed with all other factors.
The Type of Trading Accounts offered
👉 A good CFD broker will provide a few account options, each with unique benefits. For example, more safety, more leverage, risk management, narrow spread, etc., are all advantages that might accrue.
The Best Forex Brokers in Tanzania
👉 This article lists the best brokers that offer forex and CFD trading to Tanzanian traders. In addition, we have further identified the brokers that offer additional services and solutions to Tanzanian traders.
Best MetaTrader 4 / MT4 Forex Broker in Tanzania
Overall Rating
- 4.6/5
Min Deposit
USD 100 / 233 400 TZS
Regulators
FCA, CySEC, FSCA, SCB
Trading Desk
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
No
Trading Fees
High
Account Activation Time
24 Hours
👉 Overall, FxPro is the best MT4 Forex broker in Tanzania. FxPro provides a variety of account kinds and trade execution capabilities and is a leading MetaTrader broker.
👉 FxPro provides access to more than 400 Contracts for Difference (CFDs). Additionally, the site delivers a collection of instructional materials and analytical tools.
Best MetaTrader 5 / MT5 Forex 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
👉 Overall, BDSwiss is the best MetaTrader 5 Forex broker in Tanzania. Multiple asset classes may be traded with the various trading methods on the MT5 platform supplied by BDSwiss.
👉 BDSwiss’ innovative research and instructional programs and its comprehensive array of MT5 trading tools might be advantageous to traders of all levels of expertise.
Best Forex Broker for beginners 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
👉 Overall, AvaTrade is the best forex broker for beginners in Tanzania. AvaTrade offers user-friendly trading platforms and a wide range of educational resources and materials, including webinars, educational videos, eBooks, and more.
👉 AvaTrade also offers a demo account funded with virtual money. The demo account lets Tanzanians trade in live markets risk-free, allowing traders to build experience in forex trading.
Best Low Minimum Deposit Forex Broker in Tanzania
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
👉 Overall, Exness is the best Low Minimum Deposit Forex Broker in Tanzania. Tanzanian traders can register an account with Exness with a minimum deposit of 23,300 TZS ($10). This deposit allows them to trade over 270 instruments across asset classes.
Best ECN Forex Broker in Tanzania
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, RoboForex is the best ECN Forex broker in Tanzania. RoboForex welcomes traders utilizing Electronic Communication Networks (ECNs), and a $10 minimum deposit is needed to get started.
👉 ECN Accounts with zero-pip spreads are distinguished by their high liquidity and constant speed of transaction execution.
Best Islamic / Swap-Free Forex Broker in Tanzania
👉 Overall, XTB is the best Islamic / Swap-Free forex broker in Tanzania. XTB provides Tanzanian traders with a Swap-Free Account that may be utilized to trade many asset types. Tanzanians may utilize the xStation5 across several devices and benefit from its research, teaching, and other unique capabilities.
Best Forex Trading App in Tanzania
Overall Rating
- 4.5/5
Min Deposit
USD 400 / 933 66 TZS
Regulators
CFTC
Trading Desk
No Trading Desk
Crypto
Yes
Total Pairs
9
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, NinjaTrader is the best forex trading app in Tanzania. In addition, NinjaTrader provides CQG Mobile and NinjaTrader mobile for usage on iOS and Android smartphones.
👉 These innovative applications enable Tanzanians to trade straight from the charts, execute automated trading techniques, and have access to comprehensive analytical data.
Best Nasdaq 100 Forex Broker in Tanzania
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
👉 Overall, IG is the best Nasdaq 100 Forex broker in Tanzania. IG is one of the oldest stock exchange-listed brokerage firms in the world. IG provides over 19,000 tradable financial products, such as CFDs on Nasdaq, and shares featured on this renowned index.
Best Volatility 75 / VIX 75 Forex Broker in Tanzania
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, HFM is the best Volatility 75 / VIX 75 Forex broker in Tanzania. In addition, HFM is a popular STP and ECN broker that offers over 1,000 CFDs that can be traded, including VIX 75.
👉 As a result, Tanzanians can expect competitive spreads across flexible account types and powerful trading platforms.
Best NDD Forex Broker 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
👉 Overall, OctaFX is the best NDD Forex broker in Tanzania. OctaFX is an ECN, and STP forex broker offering EUR/USD spreads beginning at 0.6 pips and commission-free trading.
👉 OctaFX is a non-dealing desk (NDD) broker that provides user-friendly trading software, a choice of two flexible accounts, and cost-effective entry points for trading forex CFDs.
Best STP Forex Broker in Tanzania
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 320,000 TZS or an equivalent to AU$200
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
👉 Overall, Pepperstone is the best STP Forex broker in Tanzania. Popular STP and ECN broker Pepperstone combine liquidity from Barclays and HSBC. In addition, Pepperstone offers many execution venues, including Sucden Financial, GAIN Capital, and others.
👉 This liquidity guarantees that Tanzanians get the most competitive pricing, with spreads beginning at 0 pips on liquid products such as the EUR/USD.
Best Sign-up Bonus Broker in Tanzania
Overall Rating
- 4.4/5
Min Deposit
USD1
Regulators
FSA, CySec
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, JustMarkets is the best sign-up bonus broker in Tanzania. JustMarkets gives newly enrolled Tanzanian traders a no-deposit incentive of 30 USD upon account registration and verification.
👉 Once Tanzanians have deposited their first cash, they are eligible for extra trading incentives, giving them a head start in a fast-paced, competitive business.
Conclusion
👉 Overall, if you want to get into foreign exchange trading, a cent account is the way to go. A cent account will help you gain self-assurance without putting you at danger monetarily. Even seasoned traders could benefit from a cent account. It can be used to test the proficiency of a broker and to experiment with other approaches.
Frequently Asked Questions
How does a cent account work?
A cent account is a type of trading account in which the balance and all associated transactions are shown and handled in cents. In other words, if you put in $10, you’ll get $10.00 in your account. There is less danger while trading on a Cent account. Therefore, it is a great option for those who are just starting out in the Forex market.
How much is 1 lot size in a cent account?
A cent account’s standard size is 100,000 currency units. For example, it is 100,000 US dollars for the USD/CAD pair. As for the cent deposit, then one lot is 100,000 cents.
What is the benefit of a cent account in Forex?
It’s best for individuals who want to trade with a smaller initial investment and opens the markets to everyone who wants to participate despite having less capital to lose.
What type of trading account is best for beginner traders in Tanzania?
Beginner traders should start with a demo account, and then begin live trading with a cent account.
Which brokers offer cent accounts in Tanzania?
Many brokers offer cent accounts to traders in Tanzania, but traders should only open an account with a regulated and reputable Forex broker.
