5 Best Forex Brokers in Tanzania
Last Update: June 26th, 2024
The 5 Best Forex Brokers in Tanzania – Rated and Reviewed. We have listed the Best Forex Brokers that accept traders in Tanzania.
In this in-depth guide, you will learn:
- The Best Forex Brokers in Tanzania – a List
- Is Forex Trading Legal in Tanzania?
- The Most Successful and Rischest Forex Traders in Africa
- Is Exness Regulated in Tanzania?
- The Best Time to Trade Forex in Tanzania
and much, MUCH more!
5 Best Forex Brokers in Tanzania – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Local Traders | 💷 Min. Deposit (TZS) |
| 🥇 XM | 👉 Click Here | ✅Yes | 13075,00 |
| 🥈 HF Markets | 👉 Click Here | ✅Yes | None |
| 🥉 Pepperstone | 👉 Click Here | ✅Yes | 348422,60 |
| 🏅 Exness | 👉 Click Here | ✅Yes | 26150,00 |
| 🎖️ FBS | 👉 Click Here | ✅Yes | 13075,00 |
5 Best Forex Brokers in Tanzania (2024)
- ☑️ XM – Overall, the Best Forex Broker in Tanzania
- ☑️ HF Markets – Low TZS Minimum Deposit Forex Broker
- ☑️ Pepperstone – The Best Mobile Trading Experience
- ☑️ Exness – High User Trust Score
- ☑️ FBS – Best Online Trading Experience
XM
XM is a trusted and highly regulated Forex and CFD Broker. License and Regulations include FSCA, IFSC, ASIC, CySEC, DFSA, and, FCA. XM Accounts include Micro, Standard, Ultra Low, and Shares Accounts. In addition, an Islamic, Swap-Free and Demo Account is available. The Minimum deposit is 5 USD. Notable factors and Features include:
- Forex trading manuals and eBooks
- Multiple Deposit Options, including Skrill and Neteller
- Access to over 50 Currency Pairs, including Major, Minor, and Exotic Pairs
- Access to a Referal Bonus
- 24/7 Customer Support
- USD, EUR, GBP, and, GBP Base Currencies
- Spreads from 0.6 Pips
- Leverage of up to 1:1000
Trading Instruments include Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, and, Turbo Stocks.
XM supports MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile App is available.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
The benefits of trading with XM include a wide range of trading instruments across various markets.
HF Markets
HF Markets or HFM is a well-established and highly trusted Forex service provider. Regulations by acclaimed and trusted agencies include the FSCA, CySEC, DFSA, FSA, FCA, FSC, and, the CMA. HFM Accounts include Cent, Premium, Zero, and, Pro. No minimum deposit is required to open a live trading account.
In addition, Islamic, Swap-Free, and Demo Accounts are available. In addition, notable Factors and Features include:
- Account Options for Beginners, Experienced Traders, Scalpers, and Pro Traders.
- Bonus Offers and Promotions
- Base Currencies include USD, EUR, NGN, and ZAR
- Spreads from 0.0 Pips
- Leverage of up to 1:2000
- An Inactivity Fee is Charged
- A Commission Fee is Charged
Trading instruments and Products include Forex, Precious Metals, Energies, Indices, Shares, Commodities, Crypto CFDs, Bonds, and, ETFs. HFM supports MT4 and MT5. In addition, a Mobile Trading Option is available.
| 🔎 Broker | 🥇 HFM |
| 💴 Minimum Deposit | $0 |
| 📌 Regulation and Licenses | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | ✅Yes |
| ⏰ Support Hours | 24/5 |
| ⚙️ Trading Platforms | MT4, MT5, HFM Trading App |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Top-tier Regulation | Regional constraints |
| Segregated Accounts for Client Funds | Inactivity fees |
Our Insights
The Benefits of trading with HF Markets include strong security protocols and excellent customer support.
Pepperstone
As a highly trusted Forex and CFD Broker, Pepperstone regulations include ASIC, BaFin, CMA, CySEC, DFSA, FCA, and, the SCB. Accounts include Standard and Razor Accounts. Moreover, Islamic, Swap-Free, and Demo Options are available. In addition, notable Factors and Features include:
- Occasional Bonus Offers and Promotions
- USD and GBP Base Currencies
- Leverage of up to 1:500 on the Pro account
- Access to over 70 Currency Pairs
- No inactivity Fee is Charged
- Spreads from 0.0 Pips
Trading instruments and Products include Forex, Commodities, Indices, Currency indices, Cryptocurrencies, Shares, and, ETFs. Trading Platforms supported are TradingView, MetaTrader 4, MetaTrader 5, cTrader, and, Capitalise.ai.
| 🔎 Broker | 🥇 Pepperstone |
| 💴 Minimum Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Broker Highlights include access to excellent educational resources and impressive customer support.
Exness
Exness is amongst the highest regulated Forex, CFD, and, Finacial Services Providers. License and Regulations include the FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, and, the CMA. Moreover, Exness live accounts include Standard, Standard Cent, Raw Spread, Zero, and, Pro. In addition, an Islamic Swap-Free and Demo Account is available. In addition, notable Factors and Features include:
- 24/7 Dedicated Customer Support
- Spreads from 0.0 Pips
- Unlimited Leverage
- Access to over 100 Currency Pairs
- No Inactivity Fee is charged
- Scalping and Hedging are Provided
Trading Instruments include Forex, Commodities, Stocks, Indices, and, Cryptocurrencies. Exness supports MT4 and MT5. In addition, a Mobile Trading App is available.
| 🔎 Broker | 🥇 Exness |
| 💴 Minimum Deposit | 10 USD |
| 📈 Spreads | From 0.0 pips EUR |
| 📉 Leverage | Unlimited |
| 🪙 Currency Pairs | 100+ |
| 🤝 Affiliate Program | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Flexible trading accounts | Demo account is only valid for 21 days |
| Well-regulated + Comprehensive fund protection | Limited product portfolio |
| Powerful trading platforms | Country Restrictions |
Our Insights
The benefits of trading with Exness include access to the Access Academy and several webinars.
FBS
FBS is a trusted and highly regulated Forex Broker with a low minimum deposit required. Regulations by acclaimed and trusted agencies include IFSC, CySEC, ASIC, and, the FSCA. Accounts available include Retail and Islamic, Swap-Free Options. Moreover, a Demo Account is available. In addition, notable Factors and Features include:
- 24/7 Customer Support
- USD and EUR Base Currencies
- Spreads from 0.7 Pips
- Leverage of up to 1:3000
- 5 USD Minimum Deposit
Trading instruments and Products include Forex, Precious Metals, Indices, Energies, Stocks, and, Crypto CFDs. FBS supports MT4 and MT5. In addition, a Proprietary Mobile App is available.
| 🔎 Broker | 🥇 FBS |
| 💴 Minimum Deposit | 5 USD |
| 💵 Inactivity Fee | None |
| 🤝 Affiliate Program | ✅Yes |
| 4️⃣ Ease of Use Rating | 4/5 |
| 📐 Trading Instruments | Forex, Precious Metals, Indices, Energies, Stocks, Crypto CFDs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Minimum deposit - $5 | High leverage may be daunting |
| Leverage of up to 1:3000 | High leverage carries an increased risk of loss |
| Commission-free trading | Lack of fixed spread options |
Our Insights
The benefits of trading with FBS include access to high-leverage options of up to 1:3000 for Forex.
Is Forex Trading Legal in Tanzania?
Forex Trading in Tanzania is available without restriction. Moreover, it is regulated by the Capital Markets and Securities Authority (CMSA).
In Conclusion
The Popularity of Forex Trading in Tanzania has spiked in recent years. Moreover, it is Legal and available without restriction. In addition, the Capital Markets and Securities Authority (CMSA) regulates it.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
While reviewing the Best Forex Brokers that accept Tanzanian 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.
You might also like:
Forex Trading in Tanzania is available without restriction.
The Capital Markets and Securities Authority (CMSA).
The Most Successful and Richest Forex Traders in Africa include Jabulani Ngcobo, George van der Rier, and, Ref Wayne.
Exness is not specifically licensed in Tanzania. However, Exness accepts Tanzanian Traders.
The best time to trade forex in Tanzania is between 12:00 and 6:00 PM. In this time frame, the London and New York Sections are active and they overlap.
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