11 Best No-Deposit Bonus Brokers in Tanzania

The 11 Best No Deposit Forex Brokers in Tanzania revealed. We tested and verified the best no-deposit forex brokers for Tanzania Traders.

This is a complete list of forex brokers with a no-deposit bonus in Tanzania.

In this in-depth guide you’ll learn:

  • What is a No Deposit Bonus
  • Which brokers offer the best no-deposit bonus to Tanzania Traders?
  • Our recommended eleven ECN and STP forex brokers for Tanzania Beginner Traders?
  • How to compare forex trading brokers against each other to find the best no-deposit bonus? 
  • Which Forex Brokers offer a no-deposit bonus with local offices in Lagos?
  • Which broker is best for beginner Tanzania traders?
  • Which brokers offer a signup bonus on a $5 (11 676 TZS) deposit?
  • Which broker offers a sign-up bonus for first-time traders?


And lots more…

So if you’re ready to go “all in” with the best-tested No Deposit Bonus Forex Brokers for Tanzanians

Let’s dive right in…

Updated : January 18, 2023

Best No-Deposit Bonus Brokers in Tanzania

🥇 Broker✔️ No-Deposit Forex Broker?💰 Bonus Amount?💸 Tanzanian Shilling Deposit Allowed?👉 Open Account
1. Forex.eeYes15 USD (35 028 TZS)No👉 Open Account
2. SuperForexYes88 USD (205 502 TZS)Yes👉 Open Account
3. Trade NationYes1,000 PointsYes👉 Open Account
4. XMYes30 USD (70 057 TZS)Yes👉 Open Account
5. ForexChiefYes100 USD (233 525 TZS) No👉 Open Account
6. TickmillYes30 USD (70 057 TZS)Yes👉 Open Account
7. FreshForexYes2,021 USD (4 719 544 TZS)No👉 Open Account
8. FBSYes70 USD (70 057 TZS), 140 USD (326 935 TZS), 100 USD (233 525 TZS) Yes👉 Open Account
9. Windsor BrokersYes30 USD (70 057 TZS)No👉 Open Account
10. JustMarketsYes30 USD (70 057 TZS)Yes👉 Open Account
11. InstaForexYes1,000 USD (2 335 252 TZS)No👉 Open Account

11 Best No-Deposit Bonus Brokers in Tanzania

1. FXTM – Overall, Best Lowest Spread Forex Broker in Tanzania
2. easyMarkets – Top Sign-Up Bonus in Tanzania
3. IC Markets – Best NDD Forex Broker 
4. AvaTrade – Top Broker for Beginner Forex Brokers
5. Pepperstone – Best STP Forex Broker
6. FOREX.com – Top NASDAQ100 Forex Broker in Tanzania
7. Exness – Best Forex Trading App Forex Broker
8. Capital.com – Top Low Minimum Deposit Broker
9. FBS – Top ECN Forex Broker
10. Admirals – Best MetaTrader 4/MT4 Forex Broker
11. HFM – Top Volatility 75/VIX75 Forex Broker

What is a No-Deposit Bonus in Forex Trading?

👉 A no-deposit bonus is a sum of money granted to you as a trader just for registering with a broker. This implies you are not required to deposit to enjoy this no-deposit bonus.

 

👉 Typically, you will have immediate access to the bonus and can begin trading with it. However, you must fulfil certain requirements to withdraw the bonus money. However, profits derived from bonuses can often be withdrawn without many restrictions.

 

👉 Several restrictions and limitations are associated with each deal with a no-deposit bonus promotion. The terms and conditions include, but are not limited to, the following:

➡️ Clients with real trading accounts are eligible for the Forex No Deposit Bonus.

➡️ The candidate must provide identity/KYC documentation.

➡️ The sum fluctuates from broker to broker, over time, and across campaigns.

➡️ The offer is offered to customers who meet the promotion’s qualifying requirements, such as country/region, application age, etc.

1. Forex.ee

Forex.ee

Overview

👉 Forex.ee is a modern and flexible broker that offers a variety of trading solutions and services to its clients worldwide. In addition, Forex.ee provides access to the foreign exchange and cryptocurrency markets through the widely used MetaTrader 4 platform.

 

👉 Utilizing ECN technology ensures no conflicts of interest between Forex.ee and its clients. In addition, Forex.ee allows for favourable trading conditions such as tight spreads, low fees, and access to interbank liquidity.

 

👉 In addition, Tanzanian traders can open an STP Account with Forex.ee and receive a no-deposit bonus of 15 USD. Furthermore, Tanzanians must consider the following terms and conditions before registering an account with Forex.ee:

➡️ Traders must open an STP Account and contact customer assistance through live chat or their personal manager.

➡️ Traders must then present Forex.ee with a prior broker’s account statement demonstrating a deposit of at least 50 USD within the last year. Traders must also supply a legitimate and current mobile phone number.

➡️ Traders should know that the bonus cannot be transferred to another Forex.ee trading account.

 

Features

⚖️ RegulationNone
💵 Minimum deposit23,000 TZS ($10)
📊 Average spread from0.0 pips
📉 Maximum Leverage1:500
📈 Range of MarketsOnly Forex
💻 Trading Accounts• STP Account
• Basic ECN Account
• Advanced ECN Account
• Premium ECN Account
• Crypto Account
📱 Trading PlatformsMetaTrader 4
📞 Customer Support24/5

 

Pros and Cons

✔️ Pros❌ Cons
Forex.ee employs ECN technology, which assures that there are no conflicts of interest between traders and brokers and enables it to provide small spreads and minimal costsForex.ee is not governed by a recognized regulatory agency, which may cause some traders anxiety over the security of their cash
Forex.ee provides the popular MetaTrader 4 forex and cryptocurrency trading platformForex.ee provides traders with only a few educational materials and tools for skill development
Forex.ee provides Tanzanian traders who create an STP account a $15 no-deposit incentiveThere is just one account type available at Forex.ee, which may not be suited for all traders
Forex.ee offers traders access to interbank liquidity, which may facilitate more efficient and precise deal executionForex.ee exclusively provides forex and cryptocurrency trading, which may not be ideal for traders interested in trading other markets

2. SuperForex

Overall Rating

Min Deposit

USD 1

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 SuperForex is a reputable foreign exchange broker established in 2013 to make currency exchange more accessible to the general public. Despite its headquarters being located in Belize, Central America, the company operates in more than 150 countries worldwide.

 

👉 One of the benefits of SuperForex is that it allows residents of Tanzania to participate in foreign exchange trading without the need for any initial capital. This allows prospective clients to evaluate the broker’s services without incurring financial risk.

 

👉 Furthermore, SuperForex offers a $88 bonus to Tanzanian traders with no investment required and an additional $99 bonus for those who make a $10 deposit. This presents an attractive incentive for traders to consider opening an account with SuperForex.

 

Features

FeatureInformation
⚖️ RegulationIFSC
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)400 Tanzanian Naira ($1)
Average spread fromVariable spread
📈 Maximum Leverage1:1000
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers both variable and fixed spreadsUnregulated and offshore broker
There is no minimum deposit requirementThere are several regions restricted from accessing SuperForex’s services
There are daily analysis tools and trading signals availableSpreads are marked-up
VPS access is provided to eligible clientsThere is a limited selection of markets offered
There are several flexible account types to choose from

3. Trade Nation

Overall Rating

Min Deposit

USD 0 / 0 Tanzanian Shilling

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Trade Nation, once known as Core Spreads and a small business, has climbed to the top of the trading industry as a champion for traders seeking low-cost fees and commissions.

 

👉 Core Spreads underwent a rebranding shift in 2019 and emerged as Trade Nation, a young but formidable forex and CFD market participant.

 

👉 Tanzanians can easily join the exclusive Trade Nation loyalty program by creating a trading account and proving their identification by completing the KYC process. Then, as an incentive for joining, members will earn 1,000 trading points with no initial investment necessary.

 

👉 In addition, Tanzanian traders can continue to accumulate points in their Trade Nation account for every transaction completed in their trading account, subsequently enhancing their chances of market success.

 

Features

FeatureInformation
⚖️ RegulationFSCA
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)USD 0
Average spread fromVaries
📈 Maximum Leverage1:200
👥 Customer Support24/5

 

Pros and Cons

✔️ Pros❌ Cons
Trade Nation does not charge a minimum deposit, offering Tanzanian traders with flexibilityThere is a limited selection of funding options
The broker offers transparent fixed financial spread trading across several asset classesThe spread costs are not the lowest in the industry
There is a powerful desktop platform, innovative mobile trading app, and web-based trading platformThere are leverage restrictions on the UK and Australian clients
There is commission-free trading offeredUnited States clients are not accepted
There is a wide selection of educational content and beginner guides as part of an all-inclusive education material packageInactivity account fees may apply
There is a dedicated customer service team offered
There is an active business community offered along with a dedicated affiliate program
Trade Nation offers international stability through a well-established regulatory framework
There is no deposit fee or withdrawal fee charged on deposit or withdrawal methods
There are several base currencies to choose from when registering a retail investor account

4. 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

👉 XM Group is a reputable community of regulated online brokers that have been providing their services to clients since 2009. Trading Point of Financial Instruments Pty Ltd was officially registered as a service provider in 2015.

 

👉 XM is one of the industry’s most prominent and strictly regulated Forex and CFD No-Deposit bonus brokers and trading service providers due to its commitment to fair practices and excellent customer service.

 

👉 To provide Tanzanian clients with a comprehensive understanding of their trading experience, XM offers a demo account for clients to test its trading platforms and services.

 

👉 The company focuses on personalizing each client’s trading experience and providing a comprehensive range of trading platforms, tools, and services to help clients achieve their tailored investment goals.

 

👉 In addition, traders in Tanzania can take advantage of the market conditions without risking their funds, thanks to a $30 no-deposit incentive offered by XM upon opening and verifying a live trading account.

 

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

5. ForexChief

ForexChief

Overview

👉 ForexChief provides a selection of assets on reputable and user-friendly MetaTrader platforms to assist online trading in Forex and CFDs. Furthermore, for all trading tactics, the broker provides a variety of trading techniques, account payment modes, and account kinds.

 

👉 ForexChief is a registered securities dealer that offers high-quality, low-cost Forex and CFD trading through the Internet. It was established in 2014, with headquarters in Vanuatu and representative offices in Switzerland, Singapore, and Nigeria.

 

👉 ForexChief provides a 100 USD no-risk bonus. It is the best way to assess the company’s services and your chosen trading strategy. After completing account verification, the No-Deposit-Bonus will be automatically provided inside the ForexChief mobile application.

 

👉 Tanzanians should be aware of the following:

➡️ To get the $100 No-Deposit Bonus, you must first register an MT4.DirectFX, MT4.Classic+, MT5.DirectFX, or MT5.Classic+ account with ForexChief.

➡️ Tanzanians must download the ForexChief app from Google Play or the Huawei AppGallery and complete the internal verification procedure.

➡️ The No-Deposit-Bonus can only be collected after the trader has been correctly validated inside the application.

➡️ Profits may be withdrawn only if the account’s trading volume hits USD 10,000,000. Each order’s trading turnover in US dollars is the total of two transactions: the transaction to open an order and the transaction to cancel an order.

➡️ The maximum profit that can be withdrawn after the turnover criteria are met is $100. When the Profit is withdrawn for the first time, all funds, including the Bonus, are removed from the account.

 

Features

⚖️ RegulationVFSC
💵 Minimum deposit23,000 TZS ($10)
📊 Average spread from0.0 pips
📉 Maximum Leverage1:1000
📈 Range of Markets• Forex
• Precious Metals
• Commodities
• Indices CFDs
• Crypto CFDs
• Stock CFDs
💻 Trading Accounts• MT4.DirectFX
• MT4.Classic+
• PAMM-• MT4.DirectFX
• PAMM-• MT4.Classic+
• Cent-MT4.DirectFX
• Cent-MT4.Classic+
• MT5.DirectFX
• MT5.Classic+
• PAMM-• MT5.DirectFX
• PAMM-• MT5.Classic+
• Cent-MT5.DirectFX
• Cent-MT5.Classic+
📱 Trading PlatformsMetaTrader 4
📞 Customer Support24/7

 

Pros and Cons

✔️ Pros❌ Cons
ForexChief offers a decent range of forex pairs on MT4 and MT5There are no Tier-1 or Tier-2 regulations, which might compromise client fund security
There are eight account types to choose fromThere is limited educational material
There are flexible payment options for deposits and withdrawalsMarket news and analysis are not comprehensive
There are swap-free accounts for Muslim traders
There is a no-deposit bonus of up to $100
Tanzanians can get 24/7 customer support

6. 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

👉 Tickmill is a reputable firm that has set a high standard in the industry through its innovative technologies. The company’s commitment to innovation is a significant differentiator and has contributed to its popularity among investors.

 

👉 Tickmill is a trusted STP broker that offers a comprehensive platform for traders of all skill levels. The broker provides access to a wide range of currency pairs for experienced Tanzanian traders and also supports the MT5 platform, which expands the range of assets that can be traded.

 

👉 Tickmill offers a $30 no-deposit incentive to attract new traders upon opening a new account. This allows new traders to explore the different financial markets and test the platform without risking their funds. Additionally, traders can cash out any earnings from the bonus money.

 

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

7. FreshForex

Overall Rating

Min Deposit

USD 10

Regulators

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 FreshForex, operated by Riston Capital Ltd, is a reputable offshore brokerage based in Saint Vincent and the Grenadines that has been in business since 2004.

 

👉 FreshForex offers a variety of Forex and CFD trading options through multiple account types, all accessible via the popular MT4 trading platform.

 

👉 FreshForex is renowned for its innovative approach to bonuses, offering new customers $2021 for fully-fledged Forex trading. This special incentive, credited immediately upon account registration, requires no personal information verification or investment, and yields cashable profits.

 

👉 Tanzanian traders can take advantage of this unique opportunity by following an uncomplicated process to withdraw their FreshForex No-Deposit Bonus. The broker provides assorted options and conditions for all types of traders, including demo accounts, leverages, and various deposit options.

 

👉 With its proven record of accomplishment, state-of-the-art trading tools, and unparalleled customer service, FreshForex is a top choice for traders looking for a reliable and innovative brokerage.

 

Features

FeatureInformation
⚖️ RegulationN/A
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)0 Tanzanian Naira
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:2000
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers both variable and fixed spreadsUnregulated and offshore broker
There is no minimum deposit requirementThere are several regions restricted from accessing SuperForex’s services
There are daily analysis tools and trading signals availableSpreads are marked-up
VPS access is provided to eligible clientsThere is a limited selection of markets offered
There are several flexible account types to choose from

8. 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, an internationally authorized CFD broker, offers its clients a wide range of trading options, including Forex, metals, commodities, indices, stocks, and more than 35 digital assets.

 

👉 FBS fully supports the MetaTrader 4 and MetaTrader 5 trading platforms and its own FBS Trader App, which provides a user-friendly and convenient trading experience.

 

👉 FBS offers a variety of incentives for its traders, one of which is the opportunity for Tanzanians who trade more than three lots per month to receive a free virtual private server and access to the company’s copy trading platform.

 

👉 In addition, FBS provides two diverse types of no-deposit bonuses. The $100 Quick Start Bonus is designed for inexperienced traders and can be used on the FBS Trader platform, allowing them to test the platform without risking their funds.

 

👉 Furthermore, by following the instructions provided by FBS, traders may be eligible to receive a free $140 bonus with no deposit necessary. The FBS no-deposit bonus can be withdrawn after meeting certain requirements, and until then, it can only be used as trade credit for trading activity.

 

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

9. Windsor Brokers

Windsor Brokers

Overview

👉 Windsor Brokers is a well-established firm in the CFD and forex trading markets, operating since 1988. The company prides itself on providing first-rate brokerage assistance to traders using its online platform for foreign currency trading.

 

👉 While the broker has been active in the financial markets since 1988, it did not adopt its current forex business strategy until 2005. For those in search of a reliable forex and CFD trading platform that caters to institutional investors, Windsor Brokers is an excellent option.

 

👉 Windsor Brokers’ tried-and-true business strategy, which focuses on the Middle East, continues to be successful. To welcome new traders, Windsor Brokers offers a $30 Free Account to help them get started.

 

👉 Furthermore, to be eligible for this bonus, Tanzanian traders must register a Prime Account and set the base currency to USD, EUR, GBP, or JPY.

 

👉 It is important to note that the following terms and conditions apply to the Windsor Brokers’ $30 no-deposit bonus for Tanzanian traders:

➡️ Any amounts credited to the account by the company are considered trade credit that cannot be withdrawn or transferred and expires six months from the date of issue.

➡️ Withdrawals from the account are only permitted after the client has closed 0.5 lots and completed 10 total deals.

➡️ Trading credits will be cancelled without notice if a withdrawal request violates the abovementioned terms.

➡️ The awarded amount will be nullified if the account is dormant for 30 days or longer within the six-month validity period.

➡️ Should the account be blocked, the credit balance will be paid off.

➡️ Each household is limited to a single free $30 account.

➡️ In its sole discretion, the company may terminate the $30 Free Account Promotion at any time and without prior notice, refuse to give the $30 Free Account Promotion to any applicant, and terminate any new customer’s $30 Free Account.

➡️ This offer of a free $30 account is not valid in conjunction with any other offer.

➡️ If a customer opens an account using false or misleading information, they will not be eligible for the $30 bonus.

 

Features

⚖️ RegulationFSC, CySEC, JSC, FSA, CMA
💵 Minimum deposit230,000 TZS ($100)
📊 Average spread from0.0 pips EUR/USD
📉 Maximum Leverage1:500, depending on the region
📈 Range of Markets• Forex
• Spot Metals
• Energies
• Soft Commodities
• Indices
• Treasuries
• Spot Indices
• Forex CFDs
• Precious Metals
• Shares
• Crypto CFDs
• ETF CFDs
💻 Trading Accounts• MT4 Zero Account
• MT4 Prime Account
📱 Trading PlatformsMetaTrader 4
📞 Customer Support24/5

 

Pros and Cons

✔️ Pros❌ Cons
Windsor Brokers has a solid reputation as a reputable, licensed brokerWindsor Brokers may not be accessible to certain traders because of restrictions on its availability in some jurisdictions
Forex, Contracts for Difference, Commodities, and Indices are just some of the tradable assets offered by Windsor BrokersWindsor Brokers does not currently support MetaTrader 5
Windsor Brokers provides access to many trading platforms, including the ubiquitous MetaTrader 4 and 5Withdrawal fees apply
Windsor Brokers provides competitive spreads and minimal trading fees

10. JustMarkets

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

Overview

👉 Just Global Markets, a brokerage firm formed in Seychelles in 2012, is the parent company of JustMarkets, which was launched the same year.

 

👉 JustMarkets offers seven trading accounts, each with features and conditions targeted to a certain trader type. Furthermore, JustMarkets provides Tanzanian traders with a distinct edge by providing them with a Welcome Account credited with $30.

 

👉 All traders must give a valid cellphone number to qualify for this account. Within 30 days, traders may utilize this credit to trade at least 5 standard lots (100,000 units of the base currency). Furthermore, traders must generate at least 6 pip profit or loss (60 points or 60 USD).

 

👉 Gains from the JustMarkets Welcome Account may be moved internally to a Standard Cent, Standard, Pro, or Raw Spread Account, after which traders can withdraw their profits to a bank account.

 

Features

FeatureInformation
⚖️ RegulationFSA in Seychelles, FSA in Saint Vincent and the Grenadines
⚖️ CBN Regulation?No
📊 Trading AccountsMT4 Standard Cent, MT4 Standard Account, MT4 Pro Account, MT4 Raw Spread Account, MT5 Standard Account, MT5 Pro Account, MT5 Raw Spread Account
📊 Trading PlatformMetaTrader 5, MetaTrader 4, ZuluTrade, JustMarkets App
💰 Minimum Deposit (₦)400 Tanzanian Naira equivalent to $1
💰 Trading AssetsIndices, Energies, Forex, Metals, Cryptocurrencies, Shares, Futures
🔎 Tanzanian Naira-based Account?No
💳 NGN 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
JustMarkets offers a huge range of deposit methods and withdrawal options including bank wire transfers, bank transfers, Skrill, Neteller, and moreThere is a limited choice of trading instruments
Demo trading and Islamic Swap-Free Accounts are offeredInactivity Fees may apply after following several days of dormancy
JustMarkets offers mobile trading through powerful mobile trading appsThe broker does not have regulation through a reputable and trusted regulatory body
JustMarkets offers competitive cryptocurrency spreads across crypto pairs including Bitcoin, Ethereum, and others
JustMarkets’s non-trading fees are reasonable
The broker offers a risk warning, training webinars, an array of articles and education for inexperienced traders
There is a wide choice between different types of accounts and excellent trading conditions
One-click trading is offered in addition to insights to help Tanzanian traders make better trading decisions
Real-time market analysis is offered alongside analysis tools and several other additional tools
Client funds are kept in segregated bank accounts
There are several research and resources that can help traders make improved independent investment decisions
JustMarkets’s account-opening process is quick and easy
JustMarkets offers several innovative features including a range of services
There are several trading account currencies to choose from
There is no fee for withdrawals

11. InstaForex

Overall Rating

Min Deposit

USD 1

Regulators

CySEC, FSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

4

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 InstaForex, a foreign exchange trading platform headquartered in Limassol, Cyprus, delivers solutions from the world’s leading developers, allowing Tanzanian traders to access direct market access with the best counteragents.

 

👉 In addition, InstaForex provides a full suite of educational and support materials to Tanzanian traders in addition to its advanced technical solutions and competitive market trading conditions.

 

👉 The No-Deposit Bonus from InstaForex is an excellent opportunity for Tanzanians to begin trading in the Forex market, the world’s largest and most liquid market, which has become a reliable source of income for many traders.

 

👉 With a $1,000 incentive, traders can evaluate the broker’s exceptional order execution quality in real-world trading scenarios without incurring any risk or personal investment. Furthermore, the bonus is promptly paid upon request and is immediately accessible for trade.

 

👉 Tanzanian traders need to note the following terms and conditions that apply to the InstaForex Startup Bonus:

➡️ The bonus requires no initial funding from the trader and is available to all new customers who sign up with InstaForex.

➡️ Traders must provide identification information (ID Card, Driver’s License, or Passport) and their proof of residence (utility bill, credit card statement, etc., not older than 3 months) when establishing the trading account to which the bonus will be awarded.

➡️ Furthermore, any changes made to the Full Name field after the bonus has been awarded will be prohibited.

➡️ The bonus money cannot be cashed out, but profit from trading the bonus money is withdrawable subject to the provisions of InstaForex’s bonus agreement.

➡️ This bonus is intended for traders just starting Forex trading, and the bonus will be nullified if funds are deposited into the trading account.

➡️ The InstaForex Startup Bonus and any profits made while trading with the bonus funds are treated as virtual money once the first trading period has ended.

➡️ If funds are deposited into an account that was first funded with an InstaForex Startup Bonus, the bonus amount will increase

 

Features

FeatureInformation
⚖️ RegulationFSC, BVI, SIBA
⚖️ CBN RegulationNo
✔️ Accepts Tanzanian Traders?Yes
💳 Minimum deposit (NGN)400 Tanzanian Naira ($1)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:1000
👥 Customer Support24/7

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers commission-free tradingThere are restrictions on leverage for European Union clients
MetaTrader 4 and 5 are both offered, available across devicesUS clients are not accepted
The broker is well-regulated and offers competitive trading conditions
There is a choice between retail investor accounts, each suited to different types of traders
There is a wide range of tradable assets offered

How to Choose the Right No-Deposit 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 Desk

None

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

👉 No-deposit bonuses are popular among forex brokers that wish to provide their new customers with a risk-free option to trade live markets with trading credit, with the benefit that no minimum deposit is necessary, and traders utilize trading credit.

 

👉 Before investing, one must evaluate numerous issues, such as how they will receive long-term advantages, the degree of accessibility, and how investments and bonuses may be used to combat inflation.

 

👉 To begin, one must determine how far they can stretch the bonus. Then, to make an educated decision, read the fine print of the broker’s terms and conditions and accept the bonus only if it matches your trading style.

FAQ

What is a forex no-deposit bonus?

Forex brokers provide new traders who open a live trading account with a no-deposit incentive. The bonus is paid to the user’s account without requiring a deposit, enabling the trader to begin forex trading without risking their funds.

 

How can I claim a no-deposit bonus?

Typically, claiming a no-deposit bonus requires opening a live trading account with the broker giving the incentive.

The bonus will then be deposited to the user’s account, and the trader may use the bonus cash to begin trading on the forex market.

 

What are the forex no-deposit bonus restrictions?

Yes, there are often trading limitations associated with no-deposit bonuses. These may include a minimum trading volume requirement, a maximum withdrawal restriction, or an expiration date for the bonus money.

 

What are the benefits of a no-deposit bonus forex broker?

The primary advantage of a no-deposit bonus is that it enables traders to begin trading on the forex market without jeopardizing their funds.

This might be particularly useful for novice traders who are still learning the market’s fundamentals. Other benefits include testing the broker’s platform and earning profits without risking capital, and the initial investment is often not required.

 

Is there a withdrawable no-deposit bonus offered in Tanzania?

Some forex brokers provide withdrawable no-deposit bonuses, meaning that Tanzanian traders can withdraw the bonus monies and any profits gained from trading with the bonus funds, provided they fulfil the broker’s terms and conditions.

Furthermore, these can include a minimum trading volume requirement, a maximum withdrawal limit, or an expiration date for bonus money to be used.

 

Can Tanzanians get an AvaTrade no deposit bonus in 2023?

AvaTrade does not offer a no-deposit bonus, but a $40 welcome bonus when traders deposit $200.

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