7 Best Low Minimum Deposit Brokers in Tanzania
The 7 Best Low Minimum Deposit Forex Brokers in Tanzania revealed. We tested and verified the best Low Minimum Deposit forex brokers for Tanzania Traders.
This is a complete list of Low Minimum deposits in Tanzania.
In this in-depth guide you’ll learn:
- What is a Low Minimum Deposit?
- Who are the best low minimum deposit forex brokers for Botswanans?
- Which NASDAQ Forex brokers offer a low minimum deposit?
- How to choose a forex broker – Compare them side by side by starting capital, best scalping conditions, and best mobile apps.
- Which brokers offer no minimum deposit?
- Which brokers offer a signup bonus on their low minimum deposit.
And lots more…
So if you’re ready to go “all in” with the best-tested low minimum deposit forex brokers for Tanzanians…
Let’s dive right in…
- Louis Schoeman
Best Low Minimum Deposit Brokers in Tanzania
| 🥇 Broker | ✔️ Low Minimum Deposit Forex Broker? | 💰 Minimum Deposit | 💸 Tanzanian Shilling Deposit Allowed? | 👉 Open Account |
| 1. Exness | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 2. Alpari | 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. OctaFX | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 6. FXTM | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 7. Pepperstone | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
7 Best Low Minimum Deposit Brokers in Tanzania
- Exness – Overall, the Best Lowest Spread Forex Broker in Tanzania
- Alpari – Top Sign-Up Bonus in Tanzania
- HF Markets – Best NDD Forex Broker
- XM – Top Broker for Beginner Forex Brokers
- OctaFX – Best STP Forex Broker
- FXTM – Top NASDAQ100 Forex Broker in Tanzania
- Pepperstone – Best Forex Trading App Forex Broker
What is a low minimum deposit in Forex trading?
👉 A minimum deposit is typically required to start and maintain a live trading account with a forex broker. This is a common method for making sure that traders have enough money to trade without taking any unnecessary risks.
👉 Low minimum deposit accounts, often requiring deposits between $1 and $50, are a great option for novice traders in Tanzania, as they offer a low barrier of entry to the Forex markets.
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
👉 Traders can take advantage of Exness’ average 0 pips spread and commissions as little as $0.1 per lot, per side.
👉 A free demo account, a maximum leverage ratio of 1:200, and an Islamic account are all features provided by Exness. Both MetaTrader 4 and MetaTrader 5 can be accessed using Exness.
👉 Curacao, the British Virgin Islands, the Seychelles, South Africa, and the United Kingdom all have jurisdiction over the foreign exchange broker Exness. Companies like Nymstar Limited, Tortelo Limited, and Vlerizo (Pty) Limited are partners with Exness in order to provide their services to customers.
👉 Traders in Tanzania can access the safe and user-friendly MT4 and MT5 platforms provided by Exness from anywhere in the country. As an added incentive, they may be anticipating favourable trading conditions like narrower spreads and ECN account availability.
👉 Exness’ renown in its industry draws customers from all walks of life, and the company’s divisions offer specialised financial services and investment solutions to clients 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 |
2. Alpari
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 In 1998, three Russian business partners started Alpari with nothing more than an idea. Today, it is a leading Forex broker.
👉 Alpari maintains local representation in 15 different countries, including Russia, Ukraine, Belarus, Belize, Moldova, Mauritius, Saint Vincent & the Grenadines, Uzbekistan, Kazakhstan, and Georgia. Offering a suite of cutting-edge services for online trading on the foreign exchange currency market, it serves over a million users from over 150 countries.
👉 Alpari is available to traders in Tanzania and charges a standard $1.5 commission per side with a 0.4 pip spread. Alpari offers a leverage ratio of up to 1:1,000, along with a demo account, an Islamic account, and a number of other trading options.
👉 Supported platforms include not only MT4 and MT5, but also the Alpari Mobile App. Alpari is governed by the Financial Services Commission (FSC) of Mauritius, which is also home to the company’s headquarters.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, Alpari Trading App |
| 💰 Minimum Deposit (TZS) | 1,000 Tanzanian Naira or 5 EUR, USD, or GBP |
| 💵 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 🔎 Tanzanian-based Account? | Yes |
| 💳 TZS Deposits Allowed? | Yes |
| 💰 Bonuses for Tanzanian traders? | Yes |
| 📈 Minimum spread | 0.4 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 💸 Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated and award-winning CFD broker | Fixed spreads are not offered |
| Offers forex trading signals from AutoChartist and automatic trading | Not regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission, or any other popular market regulators |
| MetaTrader 4 and MetaTrader 5 are supported across devices | There is a limited selection of trading instruments, educational tools, and research |
| News is streamed from FxWirePro | There are restrictions on several jurisdictions |
| A dedicated customer support team offers multilingual customer support | |
| Offers unique solutions to both beginner and experienced traders | |
| There are four retail investor accounts to choose from, demo accounts, and Islamic accounts | |
| There are several convenient funding options to choose from and deposit fees are not charged |
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
👉 Traders from Tanzania are accepted at HF Markets, where a zero-pip spread is available for a round-turn fee of $6 to $8.
👉 In addition to regular trading accounts, demo accounts, Islamic accounts, and accounts with a maximum leverage ratio of 1:1000 are all available to you at HF Markets.
👉 The HF App may be used with both the MT4 and MT5 platforms. HF Markets is headquartered in Cyprus and is governed by a variety of different financial authorities such as the FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.
👉 When it comes to foreign exchange and commodity trading, HF Markets is the CFD broker to call. With HF Markets’ limitless liquidity, traders of all sizes and stripes have access to an extensive network of liquidity providers and spreads, enabling them to implement any trading strategy they like on fully automated trading platforms.
👉 HF Markets’ concentration and dominance in the African, Asian, and MENA markets bodes well for the company globally.
👉 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 with international reach despite its 2010 founding and Cypriot base.
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
👉 Since its inception in 2009, XM has simplified the trading of currencies, commodities, indices, and stocks.
👉 It is XM’s goal to provide exceptional, individualised service to each and every one of their traders. Popular trading platforms offered by XM include MetaTrader 4 and MetaTrader 5.
👉 Micro Account, Standard Account, XM Ultra-Low Account, and Shares Account are only some of the trading accounts provided by XM (Cyprus). The broker also provides an Islamic Account as an alternative type of account.
👉 At XM, the standard spread is zero pips, and commissions begin at just one dollar per share. At XM, you can open a demo, Islamic, or regular account, and the highest leverage ratio is 1:888.
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. OctaFX
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
Overview
👉 Since its inception in 2011, OctaFX has given its clientele flexible trading alternatives and minimal minimum deposits.
👉 OctaFX’s online trading services and platforms are so superior that they have been repeatedly recognised by the financial trading community with accolades.
👉 OctaFX, which has its headquarters in St. Vincent and the Grenadines, serves customers from an impressive 185 different nations. If you’re looking for a forex trading platform, your search can end with OctaFX. The broker offers the best user experience and lowest spreads in the industry.
👉 OctaFX is a wonderful option for anyone seeking a low-cost gateway into trading many asset classes. While foreign exchange (FX) trading is the platform’s bread and butter, it also offer access to a plethora of other markets and products.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA SVG, CySEC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Tanzanian Traders? | Yes |
| 💳 Minimum deposit (NGN) | 41,500 Tanzanian Naira ($100) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:500 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Fixed spread accounts are offered to retail traders | US clients are restricted |
| The broker accepts hedging and scalping strategies | There are only a few financial markets that can be traded |
| Negative balance protection is applied to retail investor accounts | |
| The broker is well-regulated and has a decent trust score | |
| There is commission-free trading |
6. FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Many traders in Tanzania who are new to forex trading will find FXTM to be an invaluable resource. Micro Accounts need no initial investment and provide access to a state-of-the-art copy trading platform as well as text and video guides to help you get started.
👉 The site’s daily market analysis will help novice traders locate trading opportunities and gain a better understanding of the actual effects of news events on the market.
👉 One of the most rapidly expanding FX brokers is FXTM, a Cyprus-based firm founded in 2011. (Limassol). Various organisations, including the Financial Conduct Authority, oversee the industry.
👉 FXTM’s early emphasis on the African and Asian markets aided in its rapid expansion across Europe and beyond within a few years of its inception.
👉 The spread on the FXTM Micro account is relatively high. High-volume traders can take advantage of competitive Raw spreads through their Advantage account, which is similar to an Electronic Communication Network (ECN) account.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit (TZS) | 23 340 Tanzanian Shillings ($10) |
| 💵 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets |
| 🔎 Tanzanian Naira-based Account? | Yes |
| 💳 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 | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthiness | Inactivity fees apply when the retail investor account becomes dormant |
| Dedicated customer support offered for Tanzanian traders Several deposit options and withdrawal methods offered | |
| There is a low minimum deposit requirement | |
| Commission-free trading is offered | |
| Deposit fees are not charged on any payment methods | |
| Withdrawal processing times are quick | |
| There are several educational tools offered | |
| There is an exclusive risk management tool offered |
7. Pepperstone
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
Overview
👉 After launching in 2010, Pepperstone Group has become a leading online broker by providing clients with a state-of-the-art trading platform for stocks, indices, metals, commodities, and digital currencies (cryptocurrencies).
👉 By maintaining complete separation between company and client funds, Pepperstone gives its clients extra peace of mind in high-risk areas like the financial services industry.
👉 Help is available in a number of different forms, including a detailed FAQ with information on how to make deposits, withdraw funds, and settle trade disputes, as well as around-the-clock access to both live chat and telephone help.
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 |
How to choose a low minimum deposit 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, new traders in Tanzania can get into the Forex market with less of a financial commitment thanks to low minimum deposit requirements. With such a low initial investment, novice traders may focus on learning the ropes of forex trading without worrying about financial strain. Margin calls can be avoided if there is always adequate money in a trader’s account.
Frequently Asked Questions
Can I trade Forex with $5 in Tanzania?
Yes, if your broker has a minimum deposit requirement of $5, you can start trading with this amount. That said, it is generally recommended that traders have a minimum balance of $100 in their accounts to avoid margin calls.
How do I grow a small Forex account?
You can grow a small Forex account by using low-risk trading options, keeping a track record of all of your trades, allowing your gains to grow over time, and trading in small time-frames.
How much can I earn in Forex as a beginner?
How much you earn will essentially be determined by how much you risk in each trade, along with the trading strategy and risk management you have in place.
Is Forex difficult to learn?
Forex traders face enormous risks, leverage, and volatility, and there is a steep learning curve. Successful foreign exchange trading requires patience, a willingness to learn, sound money management skills, calculated risks, and a solid trading strategy.
Can Forex be self-taught?
While formal training can be helpful in the foreign exchange market, the best way to learn is through on-the-job experience. To begin, choose a forex broker that provides access a trading platform with a wealth of training resources.
