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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…

Updated : August 21, 2024

Best High Leverage Forex Brokers in Tanzania

🥇 Broker✔️ High Leverage Broker?💸 Minimum Spread?💰 Minimum Deposit?👉 Open Account
1. PepperstoneYesFrom 0.6 pips320,000 TZS👉 Open Account
2. AxiYes0.0 pips EUR/USD23 340 TZS👉 Open Account
3. HFMYes0.0 pips EUR/USD11,600 TZS👉 Open Account
4. FP MarketsYes1.2 pips EUR/USD 4,600,000 TZS👉 Open Account
5. ExnessYes0.0 pips EUR/USD23 340 TZS👉 Open Account
6. FBSYes0.0 pips EUR/USD2,300 TZS👉 Open Account
7. IGYes0.2 pips EUR/USD230,000 TZS👉 Open Account
8. AvaTradeYes0.9 pips EUR/USD233 400 TZS👉 Open Account

8 Best High Leverage Forex Brokers in Tanzania

1. Pepperstone – Overall, Best Lowest Spread Forex Broker in Tanzania
2. Axi – Top Sign-Up Bonus in Tanzania
3. HF Markets – Best NDD Forex Broker 
4. FP Markets – Top Broker for Beginner Forex Brokers
5. Exness – Best STP Forex Broker
6. FBS – Top NASDAQ100 Forex Broker in Tanzania
7. IG – Best Forex Trading App Forex Broker
8. AvaTrade – Top Low Minimum Deposit Broker

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

Overall Rating

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 FeatureValue
💰 Minimum Deposit320,000 TZS or an equivalent to AU$200
💸 Minimum Trading Size0.01 lots
📉 Maximum Trading Size100 lots in a single trade
💰 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
💵 Trading Strategies SupportedAll including scalping, hedging, and Expert Advisors (EAs)
🗞 News Trading Offered?Yes
✔️ Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadFrom 0.6 pips
💵 CommissionsNone
💰 Rollover SwapsYes, 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 OfferedYes, only for retail clients
🛑 Margin Close-Out (%)50%
🔧 Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 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 typesThe 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 CySECTanzanian traders face currency conversion fees on TZS deposits
Pepperstone offers all UK clients investor protectionNegative balance protection is not offered on all accounts for all regions
There are multiple platforms and tools offered to Tanzanian tradersInvestor 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

Overall Rating

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 FeatureValue
💸 Minimum Deposit Requirement23,000 TZS or an equivalent to $10
💻 Platforms Available for Account TypeMetaTrader 4, cTrader
📊 Average Spread on Forex Major Pairs0.3 pips
📈 Maximum Leverage Ratio1:400
💰 Commission Charges on Trades$6 per lot
💵 Commissions on Stock CFDs$0.04 per CFD with a minimum of $6
💳 Account Base Currency OptionsEUR or USD
📉 Negative Balance Protection OfferedYes
✔️ Is Hedging Allowed?Yes
💰 Minimum Forex Trading Volume0.01 lots
📈 Maximum Forex Position Size1 Standard Lot or 100,000
💸 Maximum Open and Pending PositionsUnlimited
☪️ 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 FSCThere is no TZS-denominated trading account for Tanzanians
Tanzanian traders can choose between three powerful trading platforms and can use an innovative Copytrading appAxiory 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 accountThere is a limited selection of tradable instruments
There is an Islamic option offered to Muslim tradersThere is no crypto trading available
There is a demo account option offered for an unlimited time

3. HF Markets

Overall Rating

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

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
💻 CBN Regulation?No
📊 Trading AccountsMT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
💵 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit (TZS)11 670 Tanzanian Shillings ($5)
📱 Trading AssetsForex 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 spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated in several global regionsThere are no variable spread accounts
Offers some of the lowest spreads in the forex market on major currency pairsThere 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

Overall Rating

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 FeatureValue
💰 Minimum Deposit160,000 TZS or an equivalent to AU$100
📈 Average spreadFloating, from 1 pip
🔨 Instruments Available• 60+ Forex pairs
• Precious Metals
• Indices
• Commodities
📊 Maximum Leverage Ratio1:500
💻 Execution TypeECN
💰 CommissionsNone
✔️ 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 CySECThere 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 appsWithdrawal fees apply to several payment methods
Tanzanian traders can expect ECN trade execution, minimal slippage, and no requotesThere 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

Overall Rating

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

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
💻 CBN Regulation?No
📊 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
💸 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit (TZS)23 340 TZS ($10)
💵 Trading AssetsForex 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 spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✅ Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Exness is a reputable international broker authorized by several reputable market regulatorsThere 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 accountsThere 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

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

FeatureInformation
⚖️ RegulationIFSC, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (TZS)2300 Tanzanian Shillings ($1)
📊 Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:3000
👥 Customer Support 24/7

 

Pros and Cons

✔️ Pros❌ Cons
FBS offers competitive trading conditions with some of the lowest spreadsThere are wide spreads charges on some accounts
There are several account types to choose fromThere is a limited number of tradable instruments
There are many social trading opportunitiesThere are several regional restrictions applied
There is an ultra-low minimum deposit requirement
The broker is well-regulated and trusted

7. IG

Overall Rating

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

FeatureInformation
⚖️ RegulationFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA
✅ CBN Regulation?No
📊 Trading AccountsIG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX)
💻 Trading PlatformMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💰 Minimum Deposit (TZS)104,000 Tanzanian Naira equivalent to $250
💰 Trading AssetsForex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options
🔎 Tanzanian-based Account?No
💳 TZS Deposits Allowed?Yes
💰 Bonuses for Tanzanian traders?No
📈 Minimum spread0.1 pips (DMA) on EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
💰 Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Offers a significant range of financial instruments, including Tanzanian-specific trading instrumentsHigh minimum deposit charged
There are several powerful trading platforms offeredInactivity 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

Overall Rating

Min Deposit

USD 100

Regulators

ASIC, FSA

Trading Desk

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

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 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

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
✅ CBN Regulation?No
📊 Trading AccountsRetail Investor Account, Professional Account Option
💻 Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💰 Minimum Deposit (TZS)233 400 Tanzanian Shilling ($100)
💵 Trading AssetsForeign 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 spread0.9 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✔️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros ❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the worldVariable spreads are not offered
There is a wide range of financial instruments that can be traded across financial marketsThere is a limited choice between account types
There are several technical indicators, economic indicators, and other solutions for advanced tradersInactivity fees are applied
There are several trading platforms to choose fromCurrency 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 toThere 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

How to Choose the Right CFD 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

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

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

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

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

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

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

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

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

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

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

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.

9.5/10 - (2 votes)

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