8 Best STP Forex Brokers in Tanzania
The 8 Best STP Forex Brokers for Tanzanians revealed. We tested the best STP Forex Brokers for Tanzanian Traders.
This is a complete guide to STP Forex Brokers in Tanzania.
In this in-depth guide you’ll learn:
- What are Straight Through Processing (STP) Forex Brokers?
- Which STP forex brokers offer the best trading platforms for Tanzanian traders?
- Which STP Brokers can you use with M-PESA?
- How to compare the best trading platforms against each other.
- Which STP forex brokers are best for beginner Tanzanian Traders?
- Which brokers offer a sign-up bonus for first-time traders in Tanzania?
- Which brokers offer a low minimum deposit of $5 (11 803 TZS) to start trading?
- Which STP Brokers offer a mobile app on IOS and Android for Tanzanian Traders?
And lots more…
So if you’re ready to go “all in” with the best STP Forex Brokers…
Let’s dive right in…
- Louis Schoeman
8 Best STP Forex Brokers in Tanzania Summary
- XM – Overall, Best STP Forex Broker in Tanzania
- Alpari – Best Forex Broker with MetaTrader 4 Trading Desk
- FXTM – Mobile App for Both Android and IOS
- AvaTrade – Most Globally Distributed Internet Brokerages
- FP Markets – Regulated in FX and CFD Markets
- GO Markets – A Broad Variety of CFD Trading Assets
- Pepperstone – Top Currency Pairs Like Euro to US Dollar
- IG – Web-Based Training Offered
Best STP Forex Brokers in Tanzania
| 🥇 Broker | ✔️ STP Forex Broker? | 💰 Minimum Deposit | 💸 Tanzanian Shilling Deposit Allowed? | 👉 Open Account |
| 1. XM | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 2. Alpari | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 3. FXTM | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 4. AvaTrade | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
| 5. FP Markets | Yes | USD $100 / 236 075 TZS | No | 👉 Open Account |
| 6. GO Markets | Yes | USD 200 / 472 150 TZS | Yes | 👉 Open Account |
| 7. Pepperstone | Yes | USD 5 / 11 695 TZS | No | 👉 Open Account |
| 8. IG | Yes | USD 5 / 11 695 TZS | Yes | 👉 Open Account |
What is an STP Forex broker?
👉 A forex broker that processes trade orders directly without going through any other parties is called a STP broker. The huge banks that provide the liquidity for these trades are the recipients of the orders from these brokers.
👉 STP became possible with the creation of the FIX (Financial Information Exchange) protocol. The primary goals of STP are the reduction of latency during trade execution, the elimination of price disparities due to slippage and re-quotes, and the assurance that Tanzanian traders always receive the most favourable terms.
1. 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
👉 Among Tanzanian traders of all experience levels, XM has emerged as the next generation broker for online Forex trading thanks to its auto trading, lack of hidden expenses, and rapid order executions.
👉 XM’s demo account lets inexperienced traders practise their craft with $100,000 in virtual funds at no cost.
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 |
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
👉 Alpari Financial Services Ltd. (Alpari) is a major independent Forex broker that provides traders in Tanzania with access to a suite of trading services and tools.
👉 Numerous account types are available from Alpari, and the company’s support team can talk to you in more than 30 languages. Additionally, they provide beginning traders with access to clone trading and practise accounts.
👉 With the help of Alpari International, a global Forex broker, Tanzanians can now engage in foreign exchange (Forex) and contracts for difference (CFDs) trading.
👉 Alpari supports MetaTrader 4 and MetaTrader 5 with a dealing desk. Innovative mapping and navigation features will be available on both systems.
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. 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
👉 FXTM’s status as one of the best STP Forex broker’s in Tanzania is not surprising, given the company’s exceptional reputation for support services.
👉 A new trader can find a lot of knowledge, resources, and tools here to help them get started and grow as professionals. In addition to MetaTrader 4 and 5, FXTM offers a variety of other trading platforms.
👉 The MetaTrader 4 app is available for download in Tanzania, and it is compatible with both Android and iOS devices.
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 |
4. AvaTrade
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
Overview
👉 For good reason, AvaTrade has been around for a long time: they were among the original major Forex/CFD brokers. The AvaTrade brand is global in scope.
👉 As one of the most globally distributed internet brokerages, AvaTrade is licenced by authorities in no less than six different countries.
👉 Although AvaTrade has developed its own trading platforms, the company provides the widely used MT4 to traders in Tanzania rather than its own proprietary platforms.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 💻 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (TZS) | 233 400 Tanzanian Shilling ($100) |
| 💵 Trading Assets | Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🔎 Tanzanian Shilling -based Account? | No |
| 💳 TZS Deposits Allowed? | No |
| 💰 Bonuses for Tanzanian traders? | Yes |
| 📈 Minimum spread | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
5. FP Markets
Overall Rating
- 4.9/5
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
👉 In business since 2005, FP Markets is a medium-risk venue for trading FX and CFDs. The Australian Securities and Investments Commission (ASIC) oversees the FX and CFD markets in Australia, while in Cyprus the Cyprus Securities and Exchange Commission (CySEC) is in charge.
👉 Traders in Tanzania have overwhelmingly positive things to say about FP Markets, despite the fact that the broker is not regulated by the Bank of Tanzania (BoT) and does not maintain an office in the country.
👉 Over $1 billion in daily trading activity is processed by FP Markets, which serves clients in over 80 countries. For retail account administration of automated trading systems, FP Markets offers Virtual Private Server hosting, the MT4 Myfxbook service, and the MT4 MAM/PAMM platform.
Unique Features
| Account Feature | Value |
| 💰 Minimum Deposit | 160,000 TZS or an equivalent to AU$100 |
| 📈 Average spread | Floating, from 1 pip |
| 🔨 Instruments Available | • 60+ Forex pairs • Precious Metals • Indices • Commodities |
| 📊 Maximum Leverage Ratio | 1:500 |
| 💻 Execution Type | ECN |
| 💰 Commissions | None |
| ✔️ Expert Advisors Offered? | Yes |
| 📱 Mobile App Offered? | Yes |
| ✅ VPS Available? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is an Australian-based broker with Tier-1 regulation through ASIC and Tier-2 regulation through its CySEC | There are no fixed spread accounts available from FP Markets |
| FP Markets offers a massive range of markets that can be traded through powerful trading platforms and mobile apps | Withdrawal fees apply to several payment methods |
| Tanzanian traders can expect ECN trade execution, minimal slippage, and no requotes | There are additional administrative charges applied to the Islamic accounts to offset the absence of overnight fees |
| FP Markets accommodates and welcomes Muslim traders by offering dedicated Islamic accounts with competitive trading conditions | |
| FP Markets provides a range of useful trading tools | |
| There are several educational materials offered to beginner Tanzanian traders | |
| There is a comprehensive and attractive affiliate program offered |
6. GO Markets
Overall Rating
- 4.9/5
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
👉 GO Markets is an Australian Forex broker that expanded to Mauritius and Saint Vincent and the Grenadines in 2016. They offer CFD trading on more than 600 different assets to its clients.
👉 GO Markets does not maintain any presence in Lagos, hence it is not subject to regulation by the BoT of Tanzania. In contrast, GO Markets has a global presence and is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC).
👉 GO Markets is the best option for a trustworthy broker of FX and CFDs.
Unique Features
| Account Feature | Value |
| 💰 Minimum Deposit | 320,000 TZS or an equivalent to AU$200 |
| 🗣 Access to an Account Manager | Yes |
| 💵 Commission Charges | None |
| 📊 Average Spread | Variable, from 1 pip |
| 💻 Markets Offered | • 50+ FX Pairs including major, minor, and exotic pairs • Shares • Indices • Commodities • Cryptocurrencies |
| 📈 Maximum Leverage offered | 1:500 |
| 🔨 Access to Trading Tools | Yes |
| 💸 Base Account Currencies | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD |
| ✔️ Expert Advisors | Yes |
| ✅ Scalping Allowed? | Yes |
| 📱 Free VPS offered? | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| GO Markets is known for its competitive spreads | There is a limited choice between accounts as GO Markets only offers two accounts |
| There are low commission charges on Share CFDs | Tanzanians 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 accounts | There is a high minimum deposit required on both account types offered by GO markets |
| There are no fees charged on any deposit or withdrawal methods | There 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 |
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
👉 Traders in Tanzania have access to a wide variety of markets and platforms with Pepperstone. There is a wide variety of assets to trade, including precious metals like gold and silver, major stock indexes like the Dow Jones Industrial Average and the S&P 500, and currency pairs like the Euro to US Dollar and digital currencies like Bitcoin.
👉 Both the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) oversee Pepperstone’s operations (FCA).
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 |
8. IG
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
Overview
👉 Since its inception, IG has built a worldwide clientele of more than 178,000 people. Ever since becoming public, they’ve risen to prominence, becoming Britain’s leading Forex broker.
👉 IG is a worldwide provider of financial services, authorised to do business in 16 different countries and subject to regulation by organisations like the Financial Conduct Authority and the Australian Securities and Investments Commission (FCA and ASIC, respectively, in the UK).
👉 IG also provides Tanzanian traders with access to a web-based trading tool known as IG Trader.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | IG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX) |
| 💻 Trading Platform | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💰 Minimum Deposit (TZS) | 104,000 Tanzanian Naira equivalent to $250 |
| 💰 Trading Assets | Forex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options |
| 🔎 Tanzanian-based Account? | No |
| 💳 TZS Deposits Allowed? | Yes |
| 💰 Bonuses for Tanzanian traders? | No |
| 📈 Minimum spread | 0.1 pips (DMA) on EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 💰 Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Offers a significant range of financial instruments, including Tanzanian-specific trading instruments | High minimum deposit charged |
| There are several powerful trading platforms offered | Inactivity fees apply |
| There are competitive trading conditions that include low spreads, low commissions, and reliable trade execution | |
| Traders can get free trading signals | |
| There is a comprehensive IG Academy offered with dedicated educational resources | |
| Convenient funding options provided along with free deposits and withdrawals | |
| FIX API Direct Market Access trading is offered | |
| There are Swap-Free Accounts offered for Islamic traders |
How to Choose the Right STP 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, because of the great liquidity and direct market prices offered by STP Forex brokers, traders can make the most cost-effective trades possible. It is recommended that Tanzanian traders open an account with a registered Forex broker.
Frequently Asked Questions
How do you know if a broker is STP?
It is safe to assume that a company is a STP Broker if its average transaction time is below 140 ms. The danger of slippage is reduced when a trade is released to the market more quickly.
Should I use and STP or ECN broker in Tanzania?
STP brokerages can provide the same simplicity and cost of execution as ECN accounts, but without the additional cost from a dealing desk, which can be especially beneficial in volatile market situations.
Why should I use STP in Forex trading?
STP can be a more efficient form of trading that reduces the risk of human error and provides access to superior pricing
Can a Forex trader lose money?
Forex traders frequently experience rapid financial loss due to poor risk management. Trading systems incorporate automated take-profit and stop-loss algorithms for a reason. Trading success can be greatly increased by mastering them.
What is the safest Forex broker in Tanzania?
The safest Forex broker is that which is well-regulated in several jurisdictions and stores your funds in segregated accounts with top tier banks or financial institutions.
