Scam Forex Brokers in Namibia
7 Best Cent Account Forex Brokers in Namibia
The 7 Best Cent Account Forex Brokers for Namibians revealed. We tested the best forex trading platforms for Namibian Traders.
This is a complete guide to cent account brokers in Namibia.
In this in-depth guide you’ll learn:
- What is a Cent Account?
- Which forex brokers offer cent (micro) accounts to Namibian traders?
- What is the difference between a cent account and a micro account?
- How to compare the best cent accounts against each other.
- Which Cent Accounts are best for beginner Namibian Traders?
- Which brokers offer a sign-up bonus for first-time traders on Cent accounts?
- What is an ECN Cent account?
- Is cent accounts profitable?
- What is the minimum withdrawal on Cent Accounts?
- What do lot sizes have to do with Cent Accounts?
And lots more…
So if you’re ready to go “all in” with the best cent account forex brokers…
Let’s dive right in…
- Kayla Duvenage
Best Cent Account Forex Brokers in Namibia – Comparison
| 🥇 Broker | 👉 Open Account | 🎉 Trading Platform | 💵 Minimum Deposit | 🎉Regulation |
| 1. Exness | 👉 Open Account | MetaTrader 4 and MetaTrader 5 | $10/187 NAD | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA |
| 2. FBS | 👉 Open Account | MetaTrader 4, MetaTrader 5, FBS Trader | $1/18 NAD | IFSC, FSCA, ASIC, CySEC |
| 3. HF Markets | 👉 Open Account | MetaTrader 4 and MetaTrader 5 | $0/0 NAD | CySEC, FSC, FSCA |
| 4. XM | 👉 Open Account | Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform | $5/93 NAD | IFSC, CySec, ASIC |
| 5. FP Markets | 👉 Open Account | MetaTrader 4, MetaTrader 5 | $100 /1870 NAD | ASIC, CySEC, FSCA |
| 6. AvaTrade | 👉 Open Account | MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central | $100 /1870 NAD | CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA |
| 7. OANDA | 👉 Open Account | Metatrader 4 and Metatrader 5 | $0/0 NAD | ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA |
10 Best Forex Brokers in Namibia
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What are cent account forex brokers?
Some Forex brokers offer an account type called a cent account that can be used for trading on the lowest currency denominations. This amounts to around 0.001% of an average lot. With this kind of account, trading can be begun with a very small initial investment.
7 Best Cent Account Forex Brokers in Namibia Summary
- Exness – Overall, Best Cent Account Forex Brokers in Namibia
- FBS – Offers Competitive Trading Conditions
- HF Markets – Several Account Types Available for Different Traders
- XM – Low Minimum Deposit Required to Start Trading
- FP Markets – Massive Range of Markets Across Several Asset Clauses
- AvaTrade – Offers Several Solutions for Advanced Traders
- Oanda – Provides Financial Instruments Like Currency Pairs
Exness
For those looking for a low-risk CFD and Forex broker, look no further than Exness, which is licensed and authorized by multiple organizations. With a wide range of retail account options, including a cent account, and competitive spreads, Exness is a top choice for Forex traders.
Exness, which launched in 2008 and has since expanded to serve millions of traders, currently provides access to more than 200 different financial instruments. The website, which is helpful for traders, is translated into 18 other languages. Support is available around the clock, every day of the week, in 13 different languages.
Overall Rating
- 4.9/5
Min Deposit
Depending on the payment system, typically, low
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5, Exness App, Exness Terminal
Crypto
Total Pairs
107
Islamic Account
Trading Fees
Account Activation
Even though it is not yet licensed by the Bank of Namibia (BoN), Exness is among the most popular brokers in Namibia.
Exness Overview
| Feature | Information |
| ⚖️ Regulation | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA |
| ✅ BoN Regulation? | No |
| 📊 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit (NAD) | 10 USD / 186 NAD |
| 💵 Trading Assets | Forex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks |
| 🔎 Namibian-based Account? | No |
| 💳 NAD Deposits Allowed? | Yes |
| 💰 Bonuses for Namibian traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Social Trading Offered | No |
| 🎉 Open Account | Open Account |
| ✔️ Pros | ❌ Cons |
| Exness is a reputable international broker authorized by several reputable market regulators | There is a limited selection of tradable instruments in only a few financial markets |
| The broker offers some of the tightest spreads across all types of accounts | There is a limited selection of funding options offered |
| There are several account types to choose from, each accommodating different types of traders | |
| There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more. | |
| Exness is ideal for any Namibian beginner traders and institutional investors | |
| There are solutions offered for any type of professional trader who needs advanced options | |
| There is a powerful proprietary mobile app offered | |
| Client fund safety and investor protection is guaranteed | |
| Multilingual 24/7 customer support is offered | |
| Instant withdrawal methods are available |
FBS
Since its establishment in 2009, FBS has been one of Namibia’s most trusted CFD brokers. It offers a variety of trading accounts, including a cent account, and a cutting-edge, very effective trading program that it developed in-house.
Straight Through Processing (STP) and an Electronic Communications Network (ECN) are used in the data processing that allows FBS to comply with the regulations of CySEC, ASIC, FSCA, and IFSC in more than 150 countries. Traders may rest easy knowing that their money is held safely and independently from FBS’s funds for a low cost.
Overall Rating
- 4.7/5
Min Deposit
95 NAD / 5 USD
Regulators
IFSC, CySEC, ASIC, FSCA
Trading Desk
FBS Trader, MetaTrader 4, MetaTrader 5
Crypto
Total Pairs
36
Islamic Account
No
Trading Fees
Account Activation
FBS is a great option for Namibian traders of all experience levels and trading styles, even though it is not regulated by the Bank of Namibia (BoN).
FBS provides its traders with a variety of learning resources, including minimal minimum deposits and video, webinar, and article libraries.
FBS Overview
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| ⚖️ BoN Regulation | No |
| ✔️ Accepts Namibian Traders? | Yes |
| 💳 Minimum deposit (NAD) | 5 USD / 93 NAD |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:3000 |
| 👥 Customer Support | 24/7 |
| 🎉 Trading Platform | FBS Trader, MetaTrader 4, MetaTrader 5, CopyTrade |
| 🎉 Open Account | Open Account |
| ✔️ Pros | ❌ Cons |
| FBS offers competitive trading conditions with some of the lowest spreads | There are wide spreads charges on some accounts |
| There are several account types to choose from | There is a limited number of tradable instruments |
| There are many social trading opportunities | There are several regional restrictions applied |
| There is an ultra-low minimum deposit requirement | |
| The broker is well-regulated and trusted |
HF Markets
For Namibian traders, HF Markets (previously HotForex) is a low-risk CFD and forex broker that has earned a 9 out of 10 rating across the board for its trading conditions, retail investor accounts, client fund security, and customer assistance.
HF Markets takes great pride in being a MetaTrader broker and offers both MetaTrader 4 and MetaTrader 5 trading platforms. All levels of traders, from beginners to seasoned pros looking for an edge, are welcome to open retail investor accounts with HF Markets.
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 NAD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4, MetaTrader 5, HF App
Crypto
No
Total Pairs
50+
Islamic Account
Trading Fees
Account Activation
To suit retail traders with varied trading styles, skill levels, and investment goals, each account type offers a unique set of features and trading conditions.
HF Markets Overview
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 💻 BoN Regulation? | No |
| 📊 Trading Accounts | Cent Account, Premium Account, Zero Account, Pro Account |
| 📈 Trading Platform | MetaTrader 4, MetaTrader 5, HFM App |
| 💰 Minimum Deposit (NAD) | 0 USD / 0 NAD |
| 💵 Trading Assets | Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 🔎 Namibian Naira-based Account? | No |
| 💳 NAD Deposits Allowed? | No |
| 💰 Bonuses for Namibian traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
| 🎉 Open Account | Open Account |
| ✔️ Pros | ❌ Cons |
| Well-regulated in several global regions | There are no variable spread accounts |
| Offers some of the lowest spreads in the forex market on major currency pairs | There is a limited selection of funding options and withdrawal methods. |
| There are several account types to choose from | |
| HotForex accommodates all types of traders despite their trading strategies | |
| Low minimum deposit requirement | |
| Beginner traders and professional investors are both welcome | |
| Educational tools, advanced trading tools, and several other comprehensive solutions are offered | |
| There is a comprehensive market analysis offered | |
| Technical analysis and fundamental analysis offered |
XM
In 2009, XM entered the Forex trading markets. With a trust score of 84% and an overall rating of 9/10 as a CFD and Forex broker, XM is a safe bet for Namibian investors. XM excels in many areas that traders value highly, including safety, support, account funding, and low costs.
If you are interested in a trading profession or want to advance in your current one, XM is a great option. It’s among the most reputable and securely regulated brokerages, with offices in over 200 countries and customer care personnel fluent in 30 languages.
Overall Rating
- 4.7/5
Min Deposit
5 USD / 95 NAD
Regulators
FSCA, IFSC, ASIC, CySEC, DFSA, FCA
Trading Desk
MT4, MT5, XM Mobile App
Total Pairs
57
Islamic Account
Trading Fees
No (Just spread)
Account Activation
The broker’s main office is in Belize, where it is regulated by the IFSC, but it also has satellite locations in other countries where it can meet the needs of its customers.
XM is a trading platform that is highly dependable since it removes the possibility of error during order execution while remaining highly compatible with MetaTrader 4 and 5.
XM Overview
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC |
| ⚖️ BoN Regulation | No |
| ✔️ Accepts Namibian Traders? | Yes |
| 💳 Minimum deposit (NGN) | USD 5 / 97 NAD |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:888 |
| 👥 Customer Support | 24/5 |
| 🎉 Trading Platform | Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform |
| 👉 Open Account | 👉 Open Account |
| ✔️ 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 |
FP Markets
As a MetaTrader broker, FP Markets is top-notch. FP Markets is among the most affordable brokers available to traders all over the world, and the trading platform package offers access to more than 8,000 different products.
FP Markets offers a number of value-added services, including virtual private server (VPS) hosting for automated trading solutions, copy trading via the MT4 Myfxbook service, and retail account management using the MT4 MAM/PAMM module.
Overall Rating
- 4.7/5
Min Deposit
100 AUD / 1,200 NAD
Regulators
ASIC, CySEC, CMA, FSCA
Trading Desk
MT4, MT5, IRESS, cTrader, FP Markets App
Crypto
Total Pairs
63
Islamic Account
Trading Fees
Account Activation
Because of its recent growth, FP Markets has been exposed to the increasing demand for this type of trading from retail traders. Brokers who put money into social trading clearly care about their clients and want to offer them the best services possible.
Although the Bank of Namibia (BoN) does not supervise FP Markets, the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) do, allowing the broker to offer cross-border services to clients all over the world.
FP Markets Overview
| Account Feature | Value |
| 💰 Minimum Deposit | $100 /1870 NAD |
| 📊 Average Spreads | Variable, from 1 pip |
| ✔️ Instruments Available | 60+ Forex pairs, metals, indices, commodities |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📱 Execution Type | ECN |
| 💵 Commissions | None |
| 👥 Expert Advisors Offered? | Yes |
| 📲 Mobile App Offered? | Yes |
| ✔️ VPS Available? | Yes |
| 🎉 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 👉 Open Account | 👉 Open Account |
| ✔️ Pros | ❌ Cons |
| FP Markets is well-regulated by a Tier-1 and Tier-2 market regulators, which means that Namibian traders are dealing with a legit broker | There are additional fees that apply to Swap-free accounts |
| There is a massive range of markets across several asset classes | There is no NAD-denominated account |
| There are powerful and user-friendly trading platforms that can be used across different devices | Withdrawal fees are charged on most payment methods |
| There is reliable and fast trade execution through the Equinix servers | |
| There are commission-free accounts offered | |
| There are designated Islamic accounts offered to Muslim traders | |
| FP Makers offers beginner Namibian traders a range of educational materials | |
| There are a plethora of deposit methods and withdrawal options to choose from |
AvaTrade
Offering trading in CFDs and FX, AvaTrade was founded in 2006. Offices are located in Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Namibia, Santiago, and Johannesburg in addition to the company’s administrative headquarters in Dublin.
AvaTrade is monitored by financial authorities in Europe, the British Virgin Islands, Australia, Japan, and South Africa. The company’s own criteria are met by the AvaTradeGO app, which can be used from anywhere at any time and features a streamlined design and cutting-edge trading capabilities.
Overall Rating
- 4.9/5
Min Deposit
100 USD / 1,900 NAD
Regulators
Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
Trading Desk
AvaTrade WebTrader, AvaTradeGO, AvaOptions, AvaSocial, MT4, MT5, DupliTrade, ZuluTrade
Crypto
Total Pairs
55+
Islamic Account
Trading Fees
Account Activation
Online trading might be risky, but AvaTrade stands out thanks to its focus on customer satisfaction and its secure financial foundation. Every type of trader may use the company’s vast platform and service offerings to their full capacity thanks to the company’s 24-hour, multilingual support desks. AvaTrade provides access to numerous markets, including foreign exchange (Forex), equities, commodities, indices, and more.
The Bank of Namibia (BoN) has not licensed or regulated AvaTrade, and the broker does not have a local office in the country, but AvaTrade is nevertheless a trusted and highly recommended broker for Namibian traders who want to trade on the global financial markets.
Avatrade Overview
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| ✔️ BoN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 💻 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (NAD) | 100 NAD / 1,862 NAD |
| 💵 Trading Assets | Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🔎 Namibian-based Account? | No |
| 💳 NAD Deposits Allowed? | No |
| 💰 Bonuses for Namibian traders? | Yes |
| 📈 Minimum spread | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✅ Social Trading Offered | Yes |
| 👉 Open Account | Open Account |
| ✔️ 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. |
Oanda
OANDA started in the year 1996. For retail foreign exchange (FX) and contract for difference (CFD) traders all around the world, OANDA is the go-to broker and trading platform for currency conversions, FX data services, and online brokerage services.
OANDA has a high level of trust from Namibians, earning a score of 91%, earning it a reputation as a safe FX and CFD broker. OANDA is enticing because of its advantageous trading circumstances, proprietary platform, and high-quality trading solutions.
Both experienced traders and those just starting out will find useful resources on OANDA’s site.
OANDA gives its customers access to a wide variety of financial instruments, but its desktop trading platform is best suited to seasoned investors.
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 NAD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4, OANDA Platform, TradingView
Crypto
Total Pairs
45
Islamic Account
Trading Fees
Account Activation
The broker’s strengths include, among other things, quick and reliable transaction execution, extensive research resources, user-friendly interfaces, and a verifiable history of regulatory oversight.
Although OANDA is not regulated by the Bank of Namibia (BoN), it is still a good alternative for Namibia traders because it is regulated and authorized by various respected organizations.
OANDA Overview
| Account Feature | Value |
| 📈 Average Spreads | Variable, from 1 pip |
| 🔎Commissions (Per 1 mil traded) | None |
| 📈 Maximum Leverage | 1:200 |
| ✴️ Minimum lot size | 0.01 lots |
| 📊 Instruments | 81 |
| 🔎Stop-Out | 50% |
| 🌐 One-Click Trading offered? | Yes |
| 📈 Strategies allowed | All |
| 📊 Base Account Currency | USD, EUR, HKD, SGD |
| 👉 Open Account | 👉 Open Account |
| ✔️ Pros | ❌ Cons |
| Proprietary desktop trading platforms offered alongside MetaTrader 4 and 5 | Fixed spreads are not offered |
| Offers an impressive array of financial instruments including most currency pairs | There is a monthly inactivity fee applied |
| Innovative mobile trading apps and mobile platforms provided | |
| There are several advanced charting tools and charting features offered | |
| Negative balance protection is applied to accounts | |
| The broker accepts a wide range of trading strategies including algorithmic trading, hedging, scalping, and more | |
| There is a comprehensive range of trading tools and analytical tools offered | |
| Deposit fees are not charged and there are several deposit options | |
| Offers a decent selection of educational materials including educational articles | |
| Client funds are kept in segregated accounts |
How to Choose a Forex Broker in Namibia
Namibian traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Namibians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
Namibians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
The range of markets offered refers to the number and range of tradable instruments that the broker offers. Namibians must consider what they wish to trade and what is available.
Customer Support
Customer Support is another crucial factor and Namibians must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
A trading platform is the Namibian trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers in Namibia
In this article, we have listed the best Forex brokers which offer Forex Brokers to traders in Namibia. We have further identified the forex brokers that offer additional services and solutions to Namibian traders.
Best Forex Brokers MetaTrader 4 / MT4 Forex Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
USD 0 / 0 NAD
Regulators
FCA, ASIC, FSCA, SCB
Trading Desk
MetaTrader 4, Trade Nation proprietary platform
Crypto
Total Pairs
33
Islamic Account
No
Trading Fees
Account Activation
Overall, Trade Nation is the best MT4 forex broker in Namibia. Trade Nation also has an effective trading app. Trade Nation further has competitive costs, a secure trading environment, and cutting-edge solutions.
Best Forex Brokers MetaTrader 5 / MT5 Forex Broker in Namibia
Overall Rating
- 4.9/5
Min Deposit
Depending on the payment system, typically, low
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5, Exness App, Exness Terminal
Crypto
Total Pairs
107
Islamic Account
Trading Fees
Account Activation
Overall, Exness is the best MT5 forex broker in Namibia. Exness offers dynamic and adaptable account types as well as some of the industry’s most advantageous trading conditions. Exness offers over 200 financial products, several retail account types, and a wealth of resources.
Best Forex Brokers Forex Broker for beginners in Namibia
Overall Rating
- 4.7/5
Min Deposit
USD 10 / 195 NAD
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Trading Fees
Account Activation
Overall, BDSwiss is the best forex broker for beginners in Namibia. BDSwiss is also a well-regulated broker that has a large international clientele. It offers a diverse range of trading instruments, including forex, commodities, stocks, indices, and many cryptocurrencies.
Best Forex Brokers Minimum Deposit Forex Broker in Namibia
Overall Rating
- 4.9/5
Min Deposit
0 USD / 0 NAD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4, OANDA Platform, TradingView
Crypto
Total Pairs
45
Islamic Account
Trading Fees
Account Activation
Overall, Oanda is the best minimum deposit forex broker in Namibia. Oanda also provides competitive trading conditions, a proprietary platform that has won awards, and high-quality trading solutions. Professionals and novices alike can use OANDA’s platform to access a wide range of indicators and charting tools.
Best Forex Brokers ECN Forex Broker in Namibia
Overall Rating
- 4.1/5
Min Deposit
200 AUD / 2,500 NAD
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
TradingView, MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
Trading Fees
Account Activation
Overall, Pepperstone is the best ECN forex broker in Namibia. Pepperstone is capable of handling multiple order fills, allowing them to feed bigger orders into a liquidity aggregator on numerous levels. Orders placed by clients are filled on a “market execution” basis without requotes, with the possibility of positive or negative slippage, and without broker interference.
Best Forex Brokers Islamic / Swap-Free Forex Broker in Namibia
Overall Rating
- 4.8/5
Min Deposit
0 USD / 0 NAD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 4, MetaTrader 5, HF App
Crypto
No
Total Pairs
50+
Islamic Account
Trading Fees
Account Activation
Overall, HF Markets is the best Islamic/swap-free forex broker in Namibia. HF Markets, formerly HotForex, is a low-risk CFD and forex broker that provides competitive trading conditions, retail investor accounts, client fund security, and customer support. HF Markets’ retail investor accounts are appropriate for both novice and expert traders.
Best Forex Brokers Forex Trading App in Namibia
Overall Rating
- 4.7/5
Min Deposit
100 AUD / 1,200 NAD
Regulators
ASIC, CySEC, CMA, FSCA
Trading Desk
MT4, MT5, IRESS, cTrader, FP Markets App
Crypto
Total Pairs
63
Islamic Account
Trading Fees
Account Activation
Overall, FP Markets is the best forex trading app broker in Namibia. FP Markets provides over 10,000 products in stocks, indices, forex, commodities, and cryptocurrencies, as well as an easy-to-use mobile app and a variety of account types. FP Markets provides a variety of value-added services, including VPS hosting for automated trading solutions, copy trading through the MT4 Myfxbook service, and retail account management using the MT4 MAM/PAMM module.
Best Forex Brokers Lowest Spread Forex Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
95 NAD / 5 USD
Regulators
IFSC, CySEC, ASIC, FSCA
Trading Desk
FBS Trader, MetaTrader 4, MetaTrader 5
Crypto
Total Pairs
36
Islamic Account
No
Trading Fees
Account Activation
Overall, FBS is the best lowest-spread forex broker in Namibia. FBS is also a top forex and CFD broker for Namibians, offering a variety of trading accounts as well as a cutting-edge proprietary trading app. FBS charges low, competitive fees, and traders can rest assured that their client’s funds are safe.
Best Forex Brokers Nasdaq 100 Forex Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
25 USD / 470 NAD
Regulators
CySEC, SVG, FSA
Trading Desk
MT4, MT5, OctaTrader
Crypto
Total Pairs
28
Islamic Account
Trading Fees
Account Activation
Overall, OctaFX is the best Nasdaq 100 forex broker in Namibia. OctaFX is also a trustworthy broker due to its low required minimum deposit, commission-free trading, and unlimited practice account. OctaFX’s mission is to keep trading costs as low as possible through the utilization of STP (Straight Through Processing) and ECN models.
Best Forex Brokers Volatility 75 / VIX 75 Forex Broker in Namibia
Overall Rating
- 4.9/5
Min Deposit
100 USD / 1,900 NAD
Regulators
Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
Trading Desk
AvaTrade WebTrader, AvaTradeGO, AvaOptions, AvaSocial, MT4, MT5, DupliTrade, ZuluTrade
Crypto
Total Pairs
55+
Islamic Account
Trading Fees
Account Activation
Overall, AvaTrade is the best Volatility 75 / VIX 75 forex broker in Namibia. AvaTrade is a CFD and FX broker that is globally regulated by financial watchdog authorities. It provides an optimal trading environment for traders of all levels, with 24-hour multilingual support desks.
Best Forex Brokers NDD Forex Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
5 USD / 95 NAD
Regulators
FSCA, IFSC, ASIC, CySEC, DFSA, FCA
Trading Desk
MT4, MT5, XM Mobile App
Total Pairs
57
Islamic Account
Trading Fees
No (Just spread)
Account Activation
Overall, XM is the best NDD forex broker in Namibia. XM was founded in 2009 and has been in operation for more than 12 years. It operates in over 196 countries, has a service team that speaks 30 languages, and is one of the most trusted and well-regulated brokers. XM also provides strong security, superior customer service, account financing, and low fees.
Best Forex Brokers STP Forex Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
$10 / 195 NAD
Regulators
IFSC, MFSC and FSC
Trading Desk
MetaTrader4, MetaTrader5, CopyTrade and cTrader
Crypto
No
Total Pairs
62
Islamic Account
Trading Fees
Account Activation
Overall, Axiory is the best STP forex broker in Namibia. Axiory trades are executed in less than 200 milliseconds, and Namibian traders are given the best trading software that is linked to Equinix data centers. Axiory’s cTrader, MetaTrader, and the FIX API can be used to trade forex and CFDs.
Best Forex Brokers sign up bonus Broker in Namibia
Overall Rating
- 4.7/5
Min Deposit
100 USD / 1,900 NAD
Regulators
Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA
Trading Desk
MT4, MT5, Tickmill Mobile
Crypto
Total Pairs
62
Islamic Account
Trading Fees
Account Activation
Overall, Tickmill is the best sign-up bonus broker in Namibia. Tickmill’s VIP and Pro accounts also offer very appealing commission-based pricing. Tickmill provides a wide range of CFD currency, stock, commodity, and index CFDs in addition to low spreads, massive leverage, and fast execution speeds.
Conclusion
Overall, a cent account is a great place to start when trading forex. You can acquire confidence with this account without taking a significant financial risk. A cent account might also be useful for even seasoned traders. It can be utilized to assess a broker’s quality and to practice new strategies.
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Frequently Asked Questions
What is a cent account in Forex trading?
Because it enables individuals to trade with much smaller trading units, a cent account is a form of account that is better suited for beginning traders. The shortest minimum trading volume is offered by this account, making it perfect for testing out new strategies.
What is the difference between a cent account and standard account?
A standard 0.01 lot is used to represent a minimum volume of trade in standard accounts. The minimum amount of trading for Standard Cent accounts is 0.01 cent lots, which is 100 times lower than 0.01 standard lots. Standard Cent accounts use the wholly unique volume unit known as cent lots.
What is the best leverage in a cent account?
It is advised to start with lower leverage because it could be risky for beginners who do not yet understand leverage (1:100 or lower). As you gain more practice setting up your own risk management, you can modify it to fit your preferred trading approach.
Can you lose money with leverage?
Profit and loss both have the potential to grow when using leverage. Reduce the leverage ratio, or the proportion of borrowed money to money you actually control, to lessen the potential for loss.
Which lot size is best for beginners?
2 Micro lots are a good option for beginners who want to keep risk to a minimum while practicing their trading.
Is cent accounts profitable?
Whether cent accounts are profitable depends on various factors, including your trading skills, strategy, market conditions, and risk management. While cent accounts provide a lower-cost entry point and allow you to gain trading experience, they may not yield substantial profits on their own due to the smaller trade sizes.
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