5 Best Forex Trading Brokers in Namibia for beginners

Beginner traders in Namibia have more Forex brokers to choose from than ever, thanks to the growing popularity of Forex trading in that country.

But knowing which Forex broker to choose can be a daunting task. To this end, we have compiled a list of the 5 best Forex brokers for beginner traders in Namibia.

 

1.    AvaTrade

Overview

More than 250 financial products can be traded through AvaTrade, a renowned and acclaimed broker that has won numerous awards for its excellence in the industry.

AvaTrade offers competitive trading conditions and excellent trading platforms, making it one of the best Forex brokers in Namibia.

 

Pros and Cons

PROS CONS
Broad range of tradable instruments High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent educational resources

 

 

Features

Feature Information
Regulation Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission on Forex
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses First Deposit Bonus
Customer Support 24/5 – multilingual

 

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2.    FXTM

Overview

FXTM is well-regulated across several jurisdictions by such reputable organisations as the FCA, CySEC, and ASIC. FXTM is a global broker that provides access to a wealth of tradable assets and occasional access to a Forex no deposit bonus.

 

Pros and Cons

PROS CONS
Superb customer service Inactivity and withdrawal fees
High maximum leverage Limited product portfolio
Great educational tools

 

Features

Feature Information
Regulation CySEC, FCA, FSCA
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission
Deposit/Withdrawal Fees $3
Maximum Leverage 1:500 on average
Bonuses $300 Trading Bonus
Customer Support 24/5

 

 

3.    XTB

Overview

XTB is a popular CFD and Forex brokers that provides access to a great variety of tradable assets on user-friendly trading platforms. Traders have a great selection of trading tools and access to more than 2100 instruments.

 

Pros and Cons

Pros

 

Low trading fees

Free deposit and withdrawal

Cons

 

High stock CFDs

Limited asset portfolio

 

 

Features

Feature Information
Regulation KNF, FCA, CySEC and IFSC
Minimum deposit from $250
Average spread from 1.02 pips
Commissions from 0.08% of trade value with $8 minimum
Deposit/Withdrawal Fees $30 on withdrawals of less than $50
Maximum Leverage 1:500
Bonuses $40 No Deposit Bonus
Customer Support 24/5

 

 

4.    IC Markets

Overview

IC Markets is a true ECN broker that provides access to a wide range of assets with tight spreads that start as low as 0.0 pips. IC Markets competitive pricing environment is supported by the broker’s access to numerous liquidity providers.

 

Pros and Cons

PROS CONS
Low forex fees

Easy and fast account opening

Free deposit and withdrawal

No Negative Account Balance Protection

Limited number of available CFDs

 

 

Features

Feature Information
Regulation ASIC
Minimum deposit from $200
Average spread from 0.0 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses None
Customer Support 24/7

 

 

5.    Tickmill

Overview

Tickmill is an award-winning Forex broker that offers innovative trading technology bolstered by excellent customer support. The broker offers cheap, zero spread accounts and ultra-fast trade execution averaging at 20 milliseconds.

 

Pros and Cons

PROS CONS
Competitive pricing

Well regulated

High leverage

Advanced trading software

STP model

 

Features

Feature Information
Regulation FSA
Minimum deposit from $100
Average spread from 0.1 pips
Commissions from ‎2 per side per 100,000 traded
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $30 Welcome Bonus
Customer Support 24/5

 

Also Read: IFX unveils foreign currency brokers with high leverage