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