9 Best NDD Forex Brokers in Tanzania

The 9 Best NDD Forex Brokers for Tanzanian Traders were revealed. We tested and verified the best NDD Forex Brokers for Tanzanian Traders.

This is a complete list of forex brokers with NDD Forex Brokers in Tanzania.

In this in-depth guide you’ll learn:

  • What are the No Dealing Desk (NDD) brokers? 
  • Why traders in Tanzania should sign up with an NDD broker?
  • Who is the best forex broker with a Tanzanian Shilling trading account
  • Which NDD brokers have local offices in Tanzania
  • Which is the #1 Best low bandwidth trading app for Tanzanians
  • How to choose a forex broker – Compare them side by side by minimum deposit, TZS-based accounts, and much more.
  • Which brokers offer a low minimum deposit of $5 (11 695 TZS) to Tanzanian Traders?
  • Which traders offer a sign-up bonus for first-time traders?

 

And lots more…

So if you’re ready to go “all in” with the best-tested NDD forex brokers for Tanzanians…

Let’s dive right in…

Updated : June 20, 2023

Best NDD Forex Brokers in Tanzania

🥇 Broker✔️ NDD Forex Broker?💰 Minimum Deposit💸 Tanzanian Shilling Deposit Allowed?👉 Open Account
1. FP MarketsYesUSD 100 / 233 900 TZSNo👉 Open Account
2. GO MarketsYesUSD 200 / 467 800 TZSYes👉 Open Account
3. XMYesUSD 5 / 11 695 TZSYes👉 Open Account
4. AlpariYesUSD 5 / 11 695 TZSYes👉 Open Account
5. FXTMYesUSD 5 / 11 695 TZSNo👉 Open Account
6. AvaTradeYesUSD 100 / 233 900 TZSYes👉 Open Account
7. HF MarketsYesUSD 5 / 11 695 TZSNo👉 Open Account
8. OctaFXYesUSD 5 / 11 695 TZSYes👉 Open Account
9. TickmillYesUSD 5 / 11 695 TZSNo👉 Open Account

9 Best NDD Forex Brokers in Tanzania

  1. FP Markets – Overall, Best NDD Forex Broker in Tanzania
  2. GO Markets – TrustworthyBroker in CFD Markets
  3. XM – Suitable Broker for All Experience Levels
  4. Alpari – Broad Language Options for Customer Service Agents
  5. FXTM – Offers MetaTrader 4 on Both Android and IOS Devices
  6. AvaTrade – Strictly Regulated Internet Broker in Tanzania
  7. HF Markets – Adaptable with Webtrader on Mobile Devices
  8. OctaFX – Low Spreads and Outstanding Trading Conditions
  9. Tickmill – Top MetaTrader 5 Platform Broker in Tanzania

What is an NDD Forex broker?

👉 Traders in Tanzania who use NDD Forex brokers to trade are able to transact with one another in the interbank foreign exchange market. NDD brokers have stronger connections to banks and other significant market participants, allowing them to offer FX traders better bid and ask pricing.

1. 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

👉 To meet the growing demand for high-quality financial services in Australia, FP Markets was founded in 2005. FP Markets, located out of Sydney, has won several accolades for its outstanding assistance to clients, extensive trading education, and rapid transaction execution.

 

👉 The MetaTrader 4 platform is available to Tanzanian traders through FP Markets, and it provides them with access to approximately 10,000 trading instruments with spreads as low as 0.01%.

 

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

2. GO Markets

Overall Rating

Min Deposit

USD 200 / 466 349 TZS

Regulators

Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySec), Financial Services Commission (FSC)Financial Services Authority (FSA) & Securities and Commodities Authority (SCA)

Trading Desk

Hybrid

Crypto

Yes

Total Pairs

600+

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Among Tanzanian traders of all skill levels, GO Markets’ reputation as a trustworthy broker in the Forex and CFD markets has helped it attract customers from more than 150 countries.

 

👉 Assets can be bought and sold, trading circumstances are favourable, and resources are readily available.

 

👉 Use GO Markets’ MT4 and MT5 trading platforms to trade foreign currency, share CFDs, indices, metals, and commodities, and take use of top-tier analysis tools like Autochartist and Trading Central.

 

Unique Features

Account FeatureValue
💰 Minimum Deposit1,600 BWP or an equivalent to AU$200
🗣 Access to an Account ManagerYes
💵 Commission ChargesAU$3 per side on a standard lot
📊 Average SpreadVariable, from 0.0 pips
💻 Markets Offered• 50+ FX Pairs including major, minor, and exotic pairs
• Shares
• Indices
• Commodities
• Cryptocurrencies
📈 Maximum Leverage offered1:500
🔨 Access to Trading ToolsYes
💸 Base Account CurrenciesAUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD
✔️ Expert AdvisorsYes
✅ Scalping Allowed?Yes
📱 Free VPS offered?Yes

 

Pros and Cons

✔️ Pros❌ Cons
GO Markets is known for its competitive spreadsThere is a limited choice between accounts as GO Markets only offers two accounts
There are low commission charges on Share CFDsTanzanians are not given the option to register a trading account with TZS as the base account currency
There are no inactivity fees charged on dormant accountsThere is a high minimum deposit required on both account types offered by GO markets
There are no fees charged on any deposit or withdrawal methodsThere is no Swap-Free Islamic account option
There is a decent range of markets that can be traded
GO Markets offers excellent market analysis and additional trading tools and resources
There are several trading opportunities offered to traders, including social and copy trading through Myfxbook
There is a demo account offered to both beginner and experienced traders

3. XM

Overall Rating

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

👉 Traders in Tanzania of all skill levels recommend XM because of its superior trading platform.

 

👉 Advanced Forex traders in Tanzania go to XM because of its clear pricing model (no commissions) and lightning-fast order executions (99.35 percent in under a second).

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, IFSC
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)2,000 Tanzanian Naira ($5)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:888
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
Negative balance protection is applied to retail investor accountsUS clients are restricted from accessing XM’s trading services
There are several secure payment methods to choose fromThere are no fixed spread accounts offered
The broker is known for low spreads, low commissions, and reliable trade execution speedsThere 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

4. Alpari

Overall Rating

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

👉 One of the most well-known and respected independent Forex brokers worldwide is Alpari Financial Services Ltd. (Alpari), which provides a wide range of goods and services to its clientele.

 

👉 There is a great deal of flexibility in the types of accounts you can open with Alpari, and the company’s customer service agents can speak more than 30 languages. Two such resources that could help inexperienced Tanzanian traders enhance their skills are virtual accounts and copy trading.

 

Unique Features

FeatureInformation
⚖️ RegulationFinancial Services Commission Mauritius (FSC)
✅ CBN Regulation?No
📊 Trading AccountsForex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account
💻 Trading PlatformMetaTrader 4, MetaTrader 5, Alpari Trading App
💰 Minimum Deposit (TZS)1,000 Tanzanian Naira or 5 EUR, USD, or GBP
💵 Trading AssetsForex 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 spread0.4 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
💸 Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated and award-winning CFD brokerFixed spreads are not offered
Offers forex trading signals from AutoChartist and automatic tradingNot 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 devicesThere is a limited selection of trading instruments, educational tools, and research
News is streamed from FxWireProThere 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

5. FXTM

Overall Rating

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

👉 FXTM, a broker that has won several awards, is committed to providing excellent service to its clients at all hours of the day and night, 365 days a year.

 

👉 As a new trader in Tanzania, you have access to several resources. FXTM gives its customers access to a number of different trading platforms, including MetaTrader 4 and MetaTrader 5.

 

👉 The MetaTrader 4 app is available for both Android and iOS smartphones, which is great news for traders who want to trade on the go.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, FSCA, FCA, FSC Mauritius
✅ CBN Regulation?No
📊 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
💻 Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader
💰 Minimum Deposit (TZS)23 340 Tanzanian Shillings ($10)
💵 Trading AssetsPrecious 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 spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✔️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros ❌ Cons
FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthinessInactivity 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

6. 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

👉 For those looking to trade in Forex or CFDs, the best place to do so is with AvaTrade. AvaTrade is an international broker that serves local traders in Tanzania.

 

👉 One of the most strictly regulated internet brokerages in the world, they have offices and jurisdictions in six different nations.

 

👉 More than two million trades are made on AvaTrade every month, and the platform has more than 200,000 active users. Even though they have their own trading platforms, they always recommend MT4 to newcomers.

 

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.

7. 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

👉 HF Markets is another well-known broker that provides sole MT4 support. The desktop programme works with Webtrader in addition to many other mobile devices.

 

👉 In addition, HF Markets works with Blue Labs to provide traders in Tanzania with a wider range of alternatives by providing premium trading tool extensions.

 

Unique Features

Account FeatureValue
💰 Minimum Deposit11,600 TZS or an equivalent to $5 or 70 ZAR
📊 Spreads1 pip EUR/USD
💻 Trading PlatformMetaTrader 4, MetaTrader 5
🔨 Trading InstrumentsAll
➡️ ExecutionMarket Execution
📈 Maximum Leverage Ratio1:1000
📉 Minimum Trade Size0.01 lot
📈 Maximum Trade Size7 Standard Lots (100,000 base currency)
💻 Maximum Open Orders150 lots (Simultaneous)
📞 Margin Call (%)40%
🛑 Stop-Out (%)10%
💳 Account Base CurrencyUSD, ZAR, NGN
✔️ Personal Account ManagerYes
💵 Commission ChargesNone
✅ Bonuses OfferedFlexible bonus offering

 

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

8. OctaFX

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

Overview

👉 OctaFX’s low spreads and outstanding trading conditions have garnered it a number of accolades and make it a great location to invest. OctaFX are an established hub for CFD and Forex trading in more than a hundred countries and are now available to traders in Tanzania.

 

👉 In addition to Forex, commodities, and CFDs, OctaFX gives Tanzanian traders access to a plethora of other markets and products.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA SVG, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)41,500 Tanzanian Naira ($100)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:500
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
Fixed spread accounts are offered to retail tradersUS clients are restricted
The broker accepts hedging and scalping strategiesThere 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

9. Tickmill

Overall Rating

Min Deposit

USD 100 / 230,000 Tanzanian Shilling 

Regulators

CySEC, FCA, FSA, FSCA, Labuan FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 As an NDD broker, Tickmill forwards client orders straight to its liquidity providers. Tickmill does not trade against its clients, so you can place your orders with confidence.

 

👉 Traders in Tanzania can use either the older version of MetaTrader, MT4, or the more up-to-date version, MT5. Tickmill’s customer service team is available by phone, chat, and email at all hours.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, FCA, CySEC, Labuan FSA, FSCA
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)41,500 Tanzanian Naira ($100)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:500
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers commission-free trading across financial instrumentsThe broker does not accept clients from the United States and some other regions
There are powerful trading platforms to choose fromFixed spread accounts are not offered
The broker is well-regulated in several regions
There is a selection of popular financial instruments that can be traded
There are several advanced trading tools offered

How to Choose the Right NDD 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, in addition to a plethora of other advantages, Tanzanian traders who sign up with an NDD Forex broker gain access to more competitive pricing and a higher level of trading security.

Frequently Asked Questions

What is the NDD market?

The No Dealing Desk market consists of a trading platform offered by a forex broker that provides unfiltered access to interbank market rates of exchange.

 

What is a licenced NDD Forex broker?

With the non-dealing online foreign exchange broker licence, an organisation can function as a go-between between the online foreign exchange market and a client in exchange for a commission or markup in spreads but is not allowed to engage in market-making activities (buying and selling of foreign currencies).

 

How do I know if an NDD Forex broker in Tanzania is legit?

A legit NDD Forex broker in Tanzania will have a licence and be regulated by recognised agencies like the FSCA, FCA, ASIC, FCA or CySEC.

 

Which broker is good for beginner traders?

A good broker for beginner traders will be well-regulated, have excellent customer support, a low minimum deposit, free education and user-friendly trading platforms.

 

What is the safest Forex trading strategy?

When it comes to the foreign exchange market, trend trading is one of the most dependable and easy trading tactics. Trading in the direction of the price trend is at the heart of this approach, as the name suggests. Traders can improve their chances of success by first determining the trend’s overall direction, expected duration, and strength.

10/10 - (2 votes)

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