8 Best High Leverage Forex Brokers in Tanzania
The 8 Best High Leverage Forex Brokers in Tanzania revealed. We tested and verified the best high-leverage brokers operating in Tanzania.
This is a complete list of high-leverage brokers in Tanzania.
In this in-depth guide you’ll learn:
- What are high-leverage, forex brokers?
- Which Forex Brokers are best for beginner traders?
- Which brokers offer 1:100, 1:3000, and 1:5000 leverages?
- How to choose a forex broker – compare them against each other.
- Which high-leverage broker offers the best TZS sign-up bonus?
- Which broker offers a low minimum deposit of $5 (11 803, TZS) to first-time traders?
- Which broker offers a mobile app to Tanzanian traders?
And lots more…
So if you’re ready to go “all in” with the best-tested high leverage forex brokers for Tanzanians…
Let’s dive right in…
- Lesche Duvenage
Best High Leverage Forex Brokers in Tanzania
🥇 Broker | ✔️ High Leverage Broker? | 💸 Minimum Spread? | 💰 Minimum Deposit? | 👉 Open Account |
1. Pepperstone | Yes | From 0.6 pips | 320,000 TZS | 👉 Open Account |
2. Axi | Yes | 0.0 pips EUR/USD | 23 340 TZS | 👉 Open Account |
3. HFM | Yes | 0.0 pips EUR/USD | 11,600 TZS | 👉 Open Account |
4. FP Markets | Yes | 1.2 pips EUR/USD | 4,600,000 TZS | 👉 Open Account |
5. Exness | Yes | 0.0 pips EUR/USD | 23 340 TZS | 👉 Open Account |
6. FBS | Yes | 0.0 pips EUR/USD | 2,300 TZS | 👉 Open Account |
7. IG | Yes | 0.2 pips EUR/USD | 230,000 TZS | 👉 Open Account |
8. AvaTrade | Yes | 0.9 pips EUR/USD | 233 400 TZS | 👉 Open Account |
8 Best High Leverage Forex Brokers in Tanzania
What is a high leverage Forex broker?
👉 For those interested in foreign exchange (FX) trading, a broker with a high leverage ratio is a popular option. A trader can utilise leverage in forex trading by borrowing funds from their broker and investing the borrowed funds alongside their own capital.
👉 High leverage ratios are available from a number of Tanzanian forex brokers. forex trading, a leverage ratio of more than 1:100-1:500 is not recommended.
1. Pepperstone
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
Overview
👉 When it comes to high leverage forex brokers, Pepperstone ranks highly in Tanzania. In terms of customer satisfaction and third-party platform availability, Pepperstone excels. This Australian firm began offering CFD and forex trading in in 2010.
👉 Pepperstone Markets provides online trading services to over 170 countries and also helps huge institutions trade online. It handles several order fills, sending larger orders into a liquidity aggregator, and can channel roughly $8.3 billion each day.
👉 At Pepperstone, you can get a leverage ratio of up to 1:400.
Unique Features
Account Feature | Value |
💰 Minimum Deposit | 320,000 TZS or an equivalent to AU$200 |
💸 Minimum Trading Size | 0.01 lots |
📉 Maximum Trading Size | 100 lots in a single trade |
💰 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
💵 Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
🗞 News Trading Offered? | Yes |
✔️ Trade Execution | No-Dealing Desk (NDD) |
📊 Average EUR/USD Spread | From 0.6 pips |
💵 Commissions | None |
💰 Rollover Swaps | Yes, according to the market rates |
📊 Maximum Leverage per region | • Australia – 1:30 • Bahamas – 1:200 • Cyprus – 1:30 • Dubai – 1:30 • Germany – 1:30 • Kenya – 1:400 • United Kingdom – 1:30 |
⚖️ Negative Balance Protection Offered | Yes, only for retail clients |
🛑 Margin Close-Out (%) | 50% |
🔧 Trading Instruments offered | 1,200+ |
💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade, MetaTrader Signals |
Pros and Cons
✔️ Pros | ❌ Cons |
Pepperstone is known for offering low spreads on forex trades on both account types | The Islamic account is not available to all Muslim traders, and it attracts an additional admin fee |
Pepperstone is well-regulated by the likes of FCA, ASIC, DFSA, BaFIN, CMA, SCB, and CySEC | Tanzanian traders face currency conversion fees on TZS deposits |
Pepperstone offers all UK clients investor protection | Negative balance protection is not offered on all accounts for all regions |
There are multiple platforms and tools offered to Tanzanian traders | Investor protection is limited to EU clients through the FSCS |
There are two distinct, dynamic account types offered that cater to most traders | |
All client funds are held within Tier-1 bank accounts, separate from Pepperstone’s funds | |
There is a demo account offered to both beginner and expert traders | |
There are flexible leverage ratios according to region and expertise |
2. Axi
Min Deposit
23310 TZS / $10
Regulators
IFSC, MFSC and FSC
Trading Desk
MetaTrader4, MetaTrader5, CopyTrade and cTrader
Crypto
No
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Five organisations at three levels of government regulate Axi, making it an average-risk forex broker. Axi was established by traders just for traders, so you can expect low spreads, low slippage, and lightning-fast execution times.
👉 As a broker that values its clients and their trust above all else, Axi always acts in an ethical and transparent manner. Traders can have faith in the company due to its 24-hour support and strictly regulated trading environment.
👉 Axi is always on the lookout for new trade technologies that might improve the efficiency and adaptability of the services they offer while also being easy to use. Each of our customers has access to a personal account manager, who is there to help whenever they need it.
👉 The company’s maximum high leverage ratio is 1:500, placing it among the top 50 forex brokers admitting traders from Tanzania.
Unique Features
Account Feature | Value |
💸 Minimum Deposit Requirement | 23,000 TZS or an equivalent to $10 |
💻 Platforms Available for Account Type | MetaTrader 4, cTrader |
📊 Average Spread on Forex Major Pairs | 0.3 pips |
📈 Maximum Leverage Ratio | 1:400 |
💰 Commission Charges on Trades | $6 per lot |
💵 Commissions on Stock CFDs | $0.04 per CFD with a minimum of $6 |
💳 Account Base Currency Options | EUR or USD |
📉 Negative Balance Protection Offered | Yes |
✔️ Is Hedging Allowed? | Yes |
💰 Minimum Forex Trading Volume | 0.01 lots |
📈 Maximum Forex Position Size | 1 Standard Lot or 100,000 |
💸 Maximum Open and Pending Positions | Unlimited |
☪️ Islamic Account Conversion Offered? | Yes |
💵 Access given to Axiory CopyTrade? | No |
Pros and Cons
✔️ Pros | ❌ Cons |
While Axiory is based in Belize, the broker is regulated by FCA, IFSC, and FSC | There is no TZS-denominated trading account for Tanzanians |
Tanzanian traders can choose between three powerful trading platforms and can use an innovative Copytrading app | Axiory does not offer local deposit or withdrawal methods to Tanzanians |
There is an extremely low minimum deposit of 23,000 TZS when traders register a live account | There is a limited selection of tradable instruments |
There is an Islamic option offered to Muslim traders | There is no crypto trading available |
There is a demo account option offered for an unlimited time |
3. HF Markets
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
👉 Traders from Tanzania are accepted at HF Markets, where a zero-pip spread is available for a round-turn fee of $6 to $8.
👉 At HF Markets, you can open a demo account, an Islamic account, a trading account with a maximum leverage ratio of 1:1000, and a trading account.
👉 The MT4 and MT5 platforms are now available to HF App users. HFM is headquartered in Cyprus and is regulated by the Financial Services Compensation Authority (FSCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), the Financial Services Commission of Cyprus (FSC), and the Cyprus Markets Authority (CMA).
👉 Foreign currency and commodity trading are two of the services offered by HF Markets, a CFD broker. Traders of all sizes and styles can use the fully automated trading platforms of HF Markets, which are linked to a vast network of liquidity providers and spreads, to implement whatever trading strategy they like.
👉 HF Markets’ concentration on and dominance in the African, Asian, and MENA markets has a positive impact on the company’s global prospects.
👉 HF Markets’ trading service is reliable since it is offered in compliance with the licences required by the regulatory agencies that govern the Forex market. HF Markets is a broker that has been around since 2010, although its services are offered to clients all over the world from its base in Cyprus.
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. FP Markets
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 leading MetaTrader broker. Trading with FP Markets is cost-effective; traders may gain access to over 8,000 different products through the trading platform bundle, making it one of the most popular brokers in the world.
👉 Virtual private server (VPS) hosting for automated trading solutions, copy trading via the MT4 Myfxbook service, and retail account management via the MT4 MAM/PAMM module are just a few of the value-added services provided by FP Markets.
👉 FP Markets has been exposed to the growing interest in this sort of trading among retail traders as a result of its rapid expansion in recent years. Brokers who invest in social trading are obviously dedicated to providing the greatest experience for their customers.
👉 It is important to note that FP Markets is not regulated by the Bank of Tanzania (BoT), but it is by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), so it can serve clients all over the world.
👉 FP Markets offers a maximum leverage of 1:400.
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 |
5. Exness
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 has a zero-pip average spread and commissions as low as one dollar a lot, both of which are competitive.
👉 A free demo account, an unlimited leverage ratio, and an Islamic account are all features provided by Exness. In addition to MetaTrader 4, Exness also offers MetaTrader 5.
👉 Currency exchange broker Exness is subject to laws in several jurisdictions: the United Kingdom, the Seychelles, South Africa, the British Virgin Islands, and Curacao. In order to provide its services to customers, Exness partners with organisations including Nymstar Limited, Tortelo Limited, and Vlerizo (Pty) Limited.
👉 Traders in Tanzania can access Exness’ safe and intuitive MT4 and MT5 platforms from anywhere inside the country. They may also anticipate enticing trading conditions, such as lower spreads and access to ECN accounts.
👉 In addition to the diverse clientele the company serves, its several divisions offer specialised financial services and investment solutions to people all over the world.
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 |
6. 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. FBS provides numerous trading account types—even a penny account—and a proprietary trading software that has proven to be quite successful.
👉 Through the use of Straight Through Processing (STP) and an Electronic Communications Network (ECN), FBS is able to process data in a way that satisfies the requirements of CySEC, ASIC, FSCA, and IFSC in over 150 jurisdictions worldwide. Traders’ funds are segregated from FBS’s operating assets and maintained in a very secure environment, all for a very reasonable fee.
👉 Despite not being regulated by the Bank of Tanzania, FBS is a fantastic choice for traders in Tanzania of all skill levels and trading styles.
👉 As a broker, FBS offers its clients access to a wealth of educational materials, such as low initial deposit requirements and extensive video, webinar, and article archives.
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 |
7. IG
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
👉 For both inexperienced and seasoned traders, IG is an excellent choice. IG’s trading platform gives users access to more than 17,000 distinct trading instruments, as well as one of the safest trading environments, a wide range of account kinds, and low spreads in the business.
👉 Customers that are considering CFD trading have IG as a resource. One of the most recognised brokerages worldwide, it offers top-tier services to its clients, including cutting-edge trading platforms.
👉 User-friendly interfaces, high-quality training resources, and relevant research put IG in a competitive position among brokers in Tanzania.
👉 When conducting business, IG places a premium on honesty, social responsibility, and concern for the environment. IG’s highest leverage ratio is 1:200.
Unique Features
Feature | Information |
⚖️ Regulation | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA |
✅ CBN Regulation? | No |
📊 Trading Accounts | IG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX) |
💻 Trading Platform | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
💰 Minimum Deposit (TZS) | 104,000 Tanzanian Naira equivalent to $250 |
💰 Trading Assets | Forex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options |
🔎 Tanzanian-based Account? | No |
💳 TZS Deposits Allowed? | Yes |
💰 Bonuses for Tanzanian traders? | No |
📈 Minimum spread | 0.1 pips (DMA) on EUR/USD |
📊 Demo Account | Yes |
☪️ Islamic Account | Yes |
💰 Social Trading Offered | No |
Pros and Cons
✔️ Pros | ❌ Cons |
Offers a significant range of financial instruments, including Tanzanian-specific trading instruments | High minimum deposit charged |
There are several powerful trading platforms offered | Inactivity fees apply |
There are competitive trading conditions that include low spreads, low commissions, and reliable trade execution | |
Traders can get free trading signals | |
There is a comprehensive IG Academy offered with dedicated educational resources | |
Convenient funding options provided along with free deposits and withdrawals | |
FIX API Direct Market Access trading is offered | |
There are Swap-Free Accounts offered for Islamic traders |
8. AvaTrade
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
👉 Tanzanian traders can tailor AvaTrade to their own trading habits and objectives. The Irish Central Bank is one of several regulatory bodies that oversee AvaTrade, a global CFD and FX broker formed in 2006.
👉 However, while being tightly regulated elsewhere, AvaTrade is not supervised by the Bank of Tanzania (BoT). Nonetheless AvaTrade is a reputable company that puts Tanzanian money in the best banks all around the world.
👉 Investors in Europe can feel safe with AvaTrade because the company is a member of the Investor Compensation Company Limited in Europe. Traders can feel safe in the knowledge that this broker maintains an open, honest, and fair-trading environment.
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. |
How to Choose the Right High Leverage 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
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
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
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
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
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
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
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
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
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
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
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, Foreign exchange (FX) traders can take advantage of high leverage trading to access significantly bigger sums of money in the form of broker credit. Taking this stance comes with significant benefits as well as drawbacks.
Frequently Asked Questions
What is the highest leverage in Forex trading?
Leverage ratios are often determined by the regulatory status of the broker, and can go as high as 1:500, while other brokers offer unlimited leverage ratios.
Is high leverage good in Forex trading?
A novice trader might want to keep your leverage at no more than 10:1. or, if you like, 1:1. One of the most typical mistakes made by amateur forex traders is using an excessive leverage ratio. We advise that you trade at a lesser ratio until you get more experience.
Will leverage make you rich?
Using leverage certainly has the potential to maximise your profits, but it can also maximise your losses in the event that a trade goes wrong.
What leverage do most traders use?
Most experienced traders will typically not take a leverage ratio exceeding 1:500.
Can you go into debt with leverage?
Yes, it is possible to lose more on a trade than you initially invested if you employ leverage by borrowing money from your broker through a leverage account.