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5 Best Forex Brokers in Namibia

Edited by: Louis Schoeman

Best Forex Brokers in Namibia

 

The 5 Best Forex Brokers in Namibia – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Namibia.

 

In this in-depth guide, you will learn:

and much MUCH more!

 

The Best Forex Brokers in Namibia

 

5 Best Forex Brokers in Namibia – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Traders in Namibia💶 Min. Deposit (N$)
🥇 AvaTrade👉 Click Here✅Yes1867,00
🥈 XTB👉 Click Here✅YesNone
🥉 Interactive Brokers👉 Click Here✅YesNone
🏅 IC Markets👉 Click Here✅Yes3734,00
🎖️ eToro👉 Click Here✅Yes186,70

 

5 Best Forex Brokers in Namibia (2024)

  1. ☑️ AvaTrade – Overall, the Best Forex Broker in Namibia
  2. ☑️ XTB – High User Trust Score
  3. ☑️ Interactive Brokers – Best Forex Broker for Established Traders
  4. ☑️ IC Markets – Excellent Technical Tools
  5. ☑️ eToro – The Best Forex Broker for Social and Copy Trading

 

AvaTrade Review New

 

AvaTrade

AvaTrade is amongst the highest regulated and trusted Forex and CFD Brokers. Regulations include ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, and, the JFSA. Accounts include Retail, Islamic, and, Professional. Moreover, a Demo Account is available. The minimum deposit is 100 USD. In addition, notable Factors, Features, and Benefits to consider include:

  • An inactivity Fee is Charged
  • Demo Account is limited to 21 Days
  • Access to a Referal Bonus
  • Spreads from 0.6 Pips
  • Leverage of up to 1:30 on the Retail Account

 

Trading Instruments include Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, and, CFDs. AvaTrade supports AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, and, ZuluTrade.

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

✅ Pros❌ Cons
Over 1,260 instrumentsInactivity fees on dormant accounts
Fixed spreads from 0.6 pips on the Pro AccountThe demo account is available for 21 days
Islamic AccountDeposit and withdrawal options are limited
There is a free demo account availableLeverage is capped at 1:30 for retail accounts

 

Our Insights

The Benefits of Trading with AvaTrade include Segregated Accounts and secure login procedures.

 

XTB Review

 

XTB

XTB is a popular and highly regulated Financial services provider. Regulations include FCA, ACPR, BaFin, DFSA, KNF, CNMV, FSCA, CySEC, and, the IFSC. Accounts available are Standard, Swap-Free, and, Demo. Moreover, no minimum deposit is required. In addition, notable Factors, Features, and Benefits to consider include:

  • Occasional Bonus Offers and Promotions
  • USD, EUR, GBP Base Currencies
  • Spreads from 0.5 Pips
  • Leverage of up to 1:500
  • Access to over 50 Currency Pairs

 

Trading Instruments include Forex, indices, commodities, stocks, ETFs, and, crypto CFDs. XTB supports xStation 5 and xStation Mobile.

🔍 Broker🥇 XTB
📌 Year Founded2002
👤 Amount of StaffApproximately 2,000
👥 Amount of Active TradersOver 500,000
📍 Publicly TradedWarsaw Stock Exchange
📈 RegulationFCA,
KNF,
IFSC,
CySEC
🌎 Country of RegulationUK (FCA),
Poland (KNF)
📉 Account Segregation✅Yes
📊 Negative Balance Protection✅Yes
💹 Investor Protection Schemes✅Yes
🅰️ Institutional Accounts✅Yes
🅱️ Managed AccountsNone
💰 Minor Account CurrenciesMajor,
Minor
💴 Minimum DepositVaries by account type
⚡ Average Deposit/Withdrawal Processing Time1-3 business days
💶 Fund Withdrawal FeeNone
📐 Spreads FromFrom 0.1 pips
💶 CommissionsVariable
💵 Number of Base Currencies Supported30+
💷 Swap Fees✅Yes
🔖 LeverageUp to 1:500
🏷️ Margin RequirementsVaries
☪️ Islamic Account✅Yes
🆓 Demo Account✅Yes
🖇️ Order Execution Time SecondsMilliseconds -
🖥️ VPS HostingSelect accounts
📈 CFDs TotalOver 2,000
📉 CFD Stock IndicesMajor global indices
🍎 CFD CommoditiesOil, gold, etc.
📊 CFD Shares✅Yes
💴 Deposit OptionsBank transfer,
credit/debit,
e-wallets, etc.
💶 Withdrawal OptionsBank transfer,
credit/debit,
e-wallets, etc.
🖱️ Trading PlatformsxStation 5
⭐ OS CompatibilityWindows,
macOS,
iOS,
Android
⚙️ Forex Trading ToolsCharting tools,
technical analysis
🥰 Live Chat Availability✅Yes
☎️ Customer Support Contact NumberVaries by region
💙 Social Media PlatformsTwitter,
Facebook,
LinkedIn,
Instagram
🚩 Languages SupportedMultiple languages
✏️ Forex Course✅Yes
📔 Webinars✅Yes
📚 Educational ResourcesArticles,
tutorials, etc.
🤝 Affiliate Program✅Yes
🫶 Amount of PartnersNumerous global partners
🫰🏻 IB Program✅Yes
🔖 Notable Events or Teams✅Yes
🏷️ Rebate Program✅Yes
🚀 Open an Account👉 Click Here

 

XTB

 

Pros and Cons

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalHigh conversion fee

 

Our Insights

The benefits of trading with XTB include access to narrow spreads on main currency pairs.

 

Interactive Brokers Review

 

Interactive Brokers

Interactive Brokers is a popular trading platform for experienced traders and investors. Regulations include FINRA, IIROC, FCA, CSSF, CBI, MNB, ASIC, SFC, and, MAS. Accounts available are IBKR Lite and IBKR Pro. Moreover, no minimum deposit is required. In addition, notable Factors, Features, and Benefits to consider include:

  • Spreads from 0.6 Pips
  • Leverage of up to 1:30
  • Access to over 100 Currency Pairs
  • No inactivity Fee is Charged
  • Scalping and Hedging is Provided

 

Trading Instruments include Forex, stocks, ETFs, options, futures, indices, mutual funds, cryptocurrencies, metals, and bonds. Interactive Brokers support IBKR Trader WorkStation, IBKR Desktop, IBKR Mobile, IBKR GlobalTrader, IBKR Client Portal, IBKR APIs, and IBKR Impact.

🔎 Broker🥇 Interactive Brokers
💴 Min. DepositNone
💶 Inactivity FeeNone
📈 Tradable AssetsForex, Metals, Futures, ETFs
🪙 Crypto Trading✅Yes
📉 MT4 / MT5None
📊 Proprietary Platforms✅Yes
📲 Mobile App✅Yes
🤝 Customer Support24/7
✏️ Education✅Yes
📍 Account TypesIBKR Pro and Lite
🚀Open an Account👉 Click Here

 

Interactive Brokers

 

Pros and Cons

✅ Pros❌ Cons
Low commissions and feesIntimidating Platform
Excellent educational materialsComplex tiered pricing plans
Reliable trade executionLacking Customer Support

 

Our Insights

The benefits of Trading with Interactive Brokers include a secure trading environment with two-factor authentication.

 

IC Markets Review

 

IC Markets

IC Markets is a renowned Forex and CFD Provider. Regulations include ASIC, CySEC, FSA, and, the SCB. Accounts available are cTrader, Raw Spread, and, Standard. Moreover, a Demo Account is available. The minimum deposit is 200 USD. In addition, notable Factors, Features, and Benefits to consider include:

  • Copy and Social Trading
  • Spreads from 0.0 Pips
  • Leverage of up to 1:500
  • Over 60 Currency Pairs

 

Trading Instruments include Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, and, Futures. IC Markets support MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, and, ZuluTrade.

🔎 Broker🥇 IC Markets
💴 Minimum Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets

 

Pros and Cons

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo investor protection for non-EU customers

 

Our Insights

The benefits of trading with IC Markets include a trusted selection of deposit options and easy, straightforward withdrawals.

 

eToro Review

 

eToro

eToro is a leading social investment and multi-asset brokerage company. Regulations include CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and, the SIPC. A Standard Retail Account and Proprietary Trading Platform is provided. In addition, notable Factors, Features, and Benefits to consider include:

  • Spreads from 1 Pip
  • Leverage of up to 1:400
  • Over 50 Currency Pairs
  • An inactivity Fee is charged
  • Access to an Affiliate Program

 

Trading Instruments include Forex, stocks, crypto (physical), crypto CFDs, indices, commodities, and, ETFs. eToro supports a Proprietary Trading Platform.

🔎 Broker🥇 eToro
📈 Regulation and LicensesCySEC, FCA, ASIC, FSA, FinCEN, FINRA
📉 Ease of Use5/5
📊 Support Hours24/5
💻 Trading PlatformseToro platform
💹 Account TypesStandard Retail Account
💴 Base CurrenciesUSD
🅰️ SpreadsFrom 1 pip EUR/USD
🅱️ Leverage1:30
💶 Currency Pairs55; minor, major, exotic pairs
💳 Minimum Deposit$50 USD
🚫 Inactivity Fee10 USD after 12 months of inactivity
📌 Website LanguagesEnglish, Italian, German, etc.
💰 Fees and CommissionsSpreads from 1 pip
🤝 Affiliate Program✅Yes
✖️ Banned CountriesCanada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan, and Syria
📈 ScalpingNone
📉 Hedging✅Yes
📊 Trading InstrumentsForex, stocks, crypto (physical), crypto CFDs, indices, commodities, ETFs
🚀Open an Account👉 Click Here

 

eToro Overview

 

Pros and Cons

✅ Pros❌ Cons
Social tradingWithdrawal Fee
Low trading feesInactivity fee
Negative balance protectionConversion fees
User-friendly PlatformSingle base currency

 

Our Insights

Traders interested in Copy and Social Trading will best benefit from eToro.

 

Forex in Namibia

 

Is Forex Trading Legal in Namibia?

Forex Trading is Legal and well-regulated by the Namibia Financial Institutions Supervisory Authority (NAMFISA).

 

Is Forex Trading Legal in Namibia?

 

The Namibia Financial Institutions Supervisory Authority (NAMFISA)

Namfisa is the independent regulatory institution of the Namibian Financial Markets.

 

The Namibia Financial Institutions Supervisory Authority (NAMFISA)

 

In Conclusion

The Popularity of Forex Trading in Namibia has seen a notable rise amongst young Namibian Professionals. Moreover, Forex Trading in Namibia is Legal, Licensed, and, Regulated by the Namibia Financial Institutions Supervisory Authority (NAMFISA).

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker
🥈Read ReviewFSCA, IFSC, ASIC, CySEC, DFSA, FCAUSD 5Visit Broker
🥉Read ReviewFCA, FSCA, FSC, CMAUSD 10Visit Broker
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker
5Read ReviewFSC, FSA, VFSCUSD 10Visit Broker
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit Broker

 

Our Insights

While reviewing the Best Forex Brokers that accept Namibian Traders, we found 5 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.

 

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Faq

Forex Trading in Namibia is legal and well-regulated.

The Namibia Financial Institutions Supervisory Authority (NAMFISA).

The Namibian Dollar (N$).

The AvaTrade Minimum Deposit is 100 USD.

XTB offers 24/5 Customer Support.

No inactivity Fee is charged.

IC Markets support MetaTrader 4 and MetaTrader 5.

Trading with eToro is commission-free.

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