Forex Brokers Namibia
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6 Best Day Trading Strategies in Namibia

The 6 Best Day Trading Strategies in Namibia revealed. We tested and verified the best day trading strategies for Namibian Traders.

This is a complete list of day trading strategies in Namibia.

In this in-depth guide you’ll learn:

  • What is a day trading strategy?
  • Which brokers offer day trading strategies to Namibian traders?
  • Our six recommended day trading strategies for Namibian Beginner Traders?
  • How to compare day trading strategies against each other?
  • What are forex day trading strategy patterns in Namibia?
  • What are day trading pattern rules?
  • Which broker offers a low minimum deposit on Namibian Dollar Accounts?

And lots more…

So if you’re ready to go “all in” with the best day trading strategies for Namibians…

Let’s dive right in…

Updated : December 4, 2023

Best Trading Platforms for Day Trading in Namibia – Comparison

🥇 Broker🎉 Open An Account✔️ Day Trading Strategies Offered?💳 Minimum Deposit (₦)📱 Namibian Dollar-based Account?💰 NAD Deposits Allowed?
1. AdmiralsOpen AccountYes1 USD / 18 NADNoYes
2. TickmillOpen AccountYes100 USD / 1,862 NADNoNo, only USD, GBP, EUR, IDR, CNY, VND, or RUB
3. HFM Open AccountYes0 USD / 0 NADYesYes

Top 10 Brokers

Broker

Rating

Regulators

Min Deposit

Leverage

Sign Up Bonus

Spreads

Website

1

9/10

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC

$10

1:Unlimited

10%

0.1 pips

2

8/10

ASIC, FSA

$100

1:400

40 USD

0.91 pips

3

8/10

FCA, ASIC, FSCA, SCB

$0

1:200

1000 Points

0.4 pips

4

7.8/10

CySEC, FSC, CFTC

$5

1:500

30 USD

1 pips

5

7.7/10

FSA, FSCA

$100

1:200

20 USD

0.9 pips

6

7.6/10

FSA, CySec

$1

1:3000

30 USD

0.3 pips

7

8/10

IFSC, CySEC

$100

1:3000

100 USD

0 pips

8

7/10

FSC, IFSC, MFSC

$10

1:400

50%

0.4 pips

9

7.9/10

IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA

$0

1:200

1000 USD

0.2 pips

10

7.6/10

CySec, FSC, FSA, BaFin, NFA

$100

1:200

30%

1.5 pips

Top 10 Brokers

Broker

Deposit

Leverage

Website

1

$10

1:Unlimited

2

$100

1:400

3

$0

1:200

4

$5

1:500

5

$100

1:200

6

$100

1:3000

7

$100

1:3000

8

$10

1:400

9

$0

1:200

10

$100

1:200

What is a Day Trading Strategy?

A day trading strategy encompasses a set of rules and techniques utilized by traders to execute short-term trades within a single trading day.

 

The primary objective of such a strategy is to capitalize on minor price fluctuations in highly liquid financial markets like stocks, currencies, or futures contracts.

1. The trend trading strategy 

The trend trading strategy 

 

A trend trading strategy is a method employed in financial markets to identify and capitalize on the directional movement of prices. It is based on the observation that financial instruments, such as stocks, currencies, or commodities, often exhibit extended periods of upward or downward trends.

 

This strategy involves recognizing the prevailing trend in a specific market and then entering trades that align with that trend. Traders utilizing this approach seek to profit from the momentum and continuation of the trend, rather than attempting to predict short-term fluctuations or market reversals.

 

Various indicators and tools are used in trend trading, including moving averages, trendlines, and price patterns. These tools assist traders in identifying the direction and strength of the trend, as well as potential entry and exit points for their trades.

 

During a bullish (upward) trend, a trend trader typically looks for opportunities to buy or “go long” on a financial instrument, anticipating further price increases. Conversely, in a bearish (downward) trend, the trader seeks opportunities to sell or “go short,” expecting prices to continue declining.

 

Effective risk management is crucial in trend trading strategies, as trends can unexpectedly change or reverse. Traders often utilize stop-loss orders to limit potential losses and employ appropriate position-sizing techniques to effectively manage risk.

 

Overall, trend trading strategies aim to capture profits by capitalizing on market trends and can be employed across various timeframes, ranging from short-term intraday trading to longer-term positions.

2. The scalping trading strategy

The scalping trading strategy

 

Scalping is a high-speed trading strategy where traders aim to make small profits from frequent trades.

 

They enter and exit positions quickly, often within seconds or minutes, taking advantage of small price fluctuations. Scalpers rely on technical indicators, order flow, and market depth to identify short-term trading opportunities.

3. The momentum trading strategy

The momentum trading strategy

 

Momentum Trading focuses on stocks or other financial instruments that are experiencing significant price movements. The goal is to ride the momentum of the trend, entering trades as the price accelerates in a particular direction.

 

Momentum traders often use technical indicators such as moving averages or the relative strength index (RSI) to identify strong trends and make quick trading decisions.

4. The breakout trading strategy

The breakout trading strategy

 

 

Breakout Trading involves looking for situations where the price of a financial instrument breaks through a significant support or resistance level. Traders anticipate that the breakout will lead to a substantial price movement in the same direction.

 

Breakout traders often use chart patterns such as triangles or rectangles, or technical indicators like Bollinger Bands or Donchian Channels to identify potential breakouts.

5. The reversal trading strategy

The reversal trading strategy

 

Reversal Trading aims to identify points where a trend is likely to reverse. Traders look for overbought or oversold conditions in the market, signalling a potential change in direction.

 

Reversal traders use various technical indicators such as oscillators like the stochastic or the relative strength index (RSI) to identify potential reversal points and enter trades accordingly.

6. The range trading strategy

The range trading strategy

 

Range Trading seeks opportunities in markets that are trading within a defined range or channel. Traders identify levels of support and resistance and enter trades when the price reaches those levels.

 

Range traders aim to profit from price oscillations within the range, buying near support and selling near resistance. Technical indicators like the Average True Range (ATR) or Bollinger Bands can help identify suitable range-bound conditions.

Best Trading Platforms for Day Trading Strategies

1. Admirals

Admirals review

 

 

Day trading doesn’t require a large investment to get started, and Namibian traders may start with as little as $100 with Admirals.

 

Overall Rating

Min Deposit

470 NAD / 25 USD 

Regulators

FCA, ASIC, CySEC, JSC, FSCA, FSA, CMA

Trading Desk

MetaTrader 4, MetaTrader 5, Admirals Mobile App

Crypto

Yes

Total Pairs

82+

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Admirals has 47 different currency pairings for Namibian traders to choose from. Aside from its social trading platform, the company offers a wide choice of additional trading possibilities. All-in costs for EUR/USD trades average 0.6, with the average spread being 0.06.

 

Admirals Overview

FeatureInformation
⚖️ RegulationFCA, ASIC, CySEC, EFSA, JSC
📲 Social Media Platforms• YouTube
• Facebook
• Twitter
• LinkedIn
• Instagram
• Telegram
⚖️ CBN Regulation?No
💻 Trading AccountsTrade.MT5, Invest.MT5, Zero.MT5, Trade.MT4, Zero.MT4
📱 Trading PlatformMetaTrader 4, MetaTrader 5, Admirals Mobile App
💵 Minimum Deposit (₦)1 USD / 18 NAD
💳 Trading AssetsESG Trading Instruments, Forex, Cryptocurrency CFDs, Commodities, Indices, Stocks, ETFs, Bonds, Spread Betting
✔️ Namibian Dollar-based Account?No
💸 NAD Deposits Allowed?Yes
💰 Bonuses for Namibian traders?No
📊 Minimum spreadFrom 0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

Admirals

 

Pros and Cons

✔️ Pros❌ Cons
Admirals is well-regulated in several regions globallyThere is an inactivity fee charged
Admirals offers commission-free optionsNamibian traders are subject to currency conversion fees
The broker accepts Namibian traders despite their trading skills or trading strategiesThere are deposit and withdrawal fees charged
There are user-friendly platforms available across devicesThere are admin fees charged on the Islamic account
There is a wide range of tradable markets, complex instruments, and leveraged productsThere is only one account type that can be converted to an Islamic Account
Admirals offers the MetaTrader Supreme Edition
Traders are given access to premium analytics
There are several educational materials, resources, and tools offered

 

2. Tickmill

Tickmill review

 

Despite its relative newness on the Forex markets, Tickmill has already earned a solid reputation among Namibian investors and traders alike. There are numerous tools available to you through Tickmill, including forex dray trading alternatives.

 

Overall Rating

Min Deposit

USD 100

Regulators

FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Third-party solutions are also supported by Tickmill’s own web platform. MetaTrader 5 users can still access their Tickmill accounts via MetaTrader 4 despite the lack of support for MetaTrader 5. ZuluTrade assistance and the platform’s own desktop program are also included for Namibian traders.

 

Tickmill Overview

FeatureInformation
⚖️ RegulationSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
📲 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
⚖️ CBN Regulation?No
💻 Trading AccountsPro Account, Classic Account, VIP Account
📱 Trading PlatformMT4, MT5, Tickmill Mobile
💳 Minimum Deposit (₦)100 USD / 1,862 NAD
💵 Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
📱 Namibian Dollar-based Account?No
✔️ NAD Deposits Allowed?No, only USD, GBP, EUR, IDR, CNY, VND, or RUB
💸 Bonuses for Namibian traders?Yes
📊 Minimum spread0.8 pips
💻 Demo AccountYes
☪️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

Tickmill

 

Pros and Cons

✔️ Pros❌ Cons
Tickmill offers robust trading platforms and innovative mobile tradingCurrency conversion fees will apply for Dollar deposits
Tickmill has a very high trust score and is known for its competitive trading conditionsThere are no fixed spread accounts offered
There are several convenient funding options available including Skrill, Neteller, and othersThe spreads are not the tightest
Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others

 

3. HFM

HFM review

 

HFM offers four different trading accounts to Namibian traders. Additionally, there is a 1:1000 leverage and the possibility to activate a bonus for trading. A wide selection of trading choices and excellent customer service are provided by HFM for Namibian traders.

 

Overall Rating

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

Yes

Trading Fees

Low

Account Activation

24 Hours

 

HFM Overview

FeatureValue
💰 Minimum Deposit0 USD / 0 NAD
💵 Maximum DepositUnlimited
💳 Account Base CurrenciesUSD, ZAR, NGN
📊 Max Leverage Ratio1:1000
✔️ Dollar Deposits Allowed?Yes
💸 Offers a DollarAccount?Yes
📞 Namibian Customer Support?Yes
💻 Account TypesCent, Zero, Premium, and Pro
📱 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
✔️ Negative Balance Protection?Yes
💰 Margin CallBetween 40% to 50%
🛑 Stop-OutBetween 10% to 20%
📉 Minimum Trade Size0.01 lots
🎉 Open An AccountOpen Account

 

HFM

 

Pros and Cons

✔️ Pros❌ Cons
There are tight, competitive spreads from 0.0 pips on EUR/USDHFM only offers a few deposit and withdrawal methods to Namibian
There is a demo account for beginners who are learning to trade and professional traders who are testing strategies
Namibian traders can register a trading account in either USD, ZAR, or NAD
Several asset classes can be traded through HFM
Namibian traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms

 

Things to consider when day trading

Things to consider when day trading

 

When day trading, there are several important factors to consider to increase your chances of success. Here are some key considerations:

 

➡️ Market Selection: Choose the markets or financial instruments that best suit your trading style and preferences. Consider factors such as liquidity, volatility, trading hours, and the availability of reliable market data.

➡️ Risk Management: Implement effective risk management techniques to protect your capital. Set appropriate stop-loss orders to limit potential losses on each trade. Determine your risk tolerance and ensure that your position sizes are in line with your risk parameters.

➡️ Trading Plan: Develop a well-defined trading plan that outlines your strategy, entry and exit criteria, risk management rules, and profit targets. Stick to your plan and avoid impulsive or emotional decisions based on short-term market fluctuations.

➡️ Technical Analysis: Utilize technical analysis tools to identify trends, patterns, and key support/resistance levels. Understand and apply technical indicators, chart patterns, and other tools that align with your trading strategy.

➡️ Fundamental Analysis: Stay informed about relevant economic and market news that may impact the instruments you trade. Consider factors such as earnings reports, economic indicators, central bank announcements, and geopolitical events.

➡️ Timing: Pay attention to market timing and trade during hours when liquidity and volatility are favourable for your chosen markets. Avoid trading during low-volume or highly unpredictable periods when spreads may be wider.

➡️ Trading Psychology: Maintain a disciplined and focused mindset. Keep emotions in check and avoid making impulsive decisions based on fear or greed. Develop patience, as not every trading opportunity will be suitable for your strategy.

➡️ Record Keeping: Maintain detailed records of your trades, including entry and exit points, reasons for the trade, and the outcome. Regularly review your trading journal to identify patterns, strengths, and weaknesses in your trading approach.

➡️ Continuous Learning: Commit to ongoing education and self-improvement. Stay updated on market trends, new trading strategies, and developments in trading technology. Seek out educational resources, attend webinars or seminars, and learn from experienced traders.

➡️ Capital and Trade Allocation: Determine the amount of capital you are willing to allocate to day trading and manage your positions accordingly. Avoid putting all your capital into a single trade and diversify your portfolio to spread risk.

 

Remember that day trading involves inherent risks, and there are no guarantees of profits. It requires practice, experience, and a realistic understanding of the markets. Regularly assess and refine your trading approach based on your own performance and feedback from the market.

Understanding the day trader

Understanding the day trader

 

To understand day traders, it is important to recognize their characteristics, motivations, and typical behaviours. Here are some key aspects to consider:

 

➡️ Time Horizon: Day traders engage in short-term trading, aiming to open and close positions within a single trading day. They do not hold positions overnight, as their focus is on capturing intraday price movements rather than long-term investments.

➡️ Frequency of Trades: Day traders execute numerous trades throughout the day, taking advantage of small price fluctuations. They actively monitor the markets and frequently enter and exit positions to capitalize on short-term opportunities.

➡️ Volatility and Liquidity: Day traders often prefer markets or instruments with high liquidity and volatility. These conditions provide more trading opportunities and the potential for quick profits. Popular markets for day trading include stocks, currencies, futures, and options.

➡️ Technical Analysis: Day traders primarily rely on technical analysis to make trading decisions. They use various tools and indicators, such as moving averages, chart patterns, and oscillators, to identify trends, support and resistance levels, and potential entry and exit points.

➡️ Risk Management: Effective risk management is crucial for day traders. They use stop-loss orders to limit potential losses and employ position-sizing techniques to ensure that individual trades do not excessively risk their capital. Risk management strategies aim to protect against significant losses and preserve trading capital.

➡️ Emphasis on Discipline: Successful day traders emphasize discipline and follow a well-defined trading plan. They stick to their strategies and avoid impulsive or emotional decisions. They understand that not every trade will be profitable and accept small losses as a part of their overall trading approach.

➡️ Constant Learning: Day traders continuously seek to improve their skills and stay updated on market developments. They engage in ongoing education, research trading strategies, and analyze market data to refine their trading techniques.

➡️ Technology and Tools: Day traders leverage technology to access real-time market data, execute trades swiftly, and utilize trading platforms with advanced charting and analysis capabilities. They often use computer-based trading systems, algorithmic trading, or automated strategies to enhance their trading efficiency.

➡️ Psychological Factors: Day trading can be psychologically demanding. Day traders must manage emotions such as fear, greed, and impatience, as rapid price movements and potential losses can trigger emotional responses. Successful day traders focus on maintaining discipline, managing emotions, and developing a resilient mindset.

➡️ Regulatory Compliance: Day traders need to comply with applicable regulations and trading rules in their respective jurisdictions. They must understand and follow rules related to margin requirements, pattern day trading restrictions, and any other regulatory obligations.

 

It is important to note that day trading carries inherent risks, and not all individuals who attempt day trading achieve consistent profitability. Success in day trading requires a combination of knowledge, experience, discipline, and adaptability to changing market conditions.

How to start out with day trading

How to start out with day trading

 

If you are interested in starting out with day trading, here are some steps to help you begin:

 

➡️ Educate Yourself: Acquire a solid understanding of the financial markets, trading concepts, and strategies. Study various aspects of trading, including technical analysis, risk management, and trading psychology. There are numerous educational resources available, including books, online courses, webinars, and forums.

➡️ Set Realistic Expectations: Recognize that day trading is a challenging endeavour. It requires time, effort, and dedication to develop the necessary skills. Set realistic expectations and understand that consistent profitability may take time to achieve. Avoid the allure of get-rich-quick schemes or promises of guaranteed profits.

➡️ Define Your Trading Capital: Determine the amount of capital you are willing to allocate to day trading. This should be risk capital that you can afford to lose without significant financial implications. It is recommended to start with a small amount while you gain experience and confidence.

➡️ Choose a Reliable Broker: Select a reputable online broker that offers a user-friendly trading platform, competitive fees, reliable execution, and access to the markets you wish to trade. Ensure the broker is regulated and provides the necessary tools and resources for day trading.

➡️ Practice with a Demo Account: Most brokers offer demo accounts that allow you to practice trading with virtual money. Utilize this opportunity to familiarize yourself with the trading platform, test different strategies, and gain hands-on experience without risking real capital.

➡️ Develop a Trading Plan: Create a well-defined trading plan that outlines your trading strategy, including entry and exit criteria, risk management rules, and profit targets. A trading plan provides structure and helps you make objective trading decisions based on pre-determined parameters.

➡️ Start Small and Focus on One Market: Begin with a small position size and focus on trading one market or a few related instruments. This allows you to develop expertise in those markets and monitor them more effectively. As you gain confidence and experience, you can gradually expand your trading activities.

➡️ Paper Trade or Simulate Trades: Before risking real money, consider paper trading or using a trading simulator. These tools enable you to practice your strategies in real-time market conditions without financial risk. Monitor the results and make adjustments to your approach as necessary.

➡️ Implement Risk Management: Prioritize risk management in your trading approach. Set appropriate stop-loss orders for each trade to limit potential losses. Determine your risk tolerance and ensure your position sizes are in line with your risk parameters. Never risk more than a small percentage of your trading capital on any single trade.

➡️ Learn from Experience and Adapt: Keep a trading journal to record your trades, including the rationale behind each trade and the outcome. Regularly review and analyze your trades to identify patterns, strengths, and weaknesses. Learn from both successful and unsuccessful trades and adjust your approach accordingly.

➡️ Continuously Improve: Engage in ongoing learning and development. Stay updated on market trends, news, and new trading strategies. Seek out educational resources, join trading communities, and consider learning from experienced traders. Embrace a mindset of continuous improvement and adaptation.

 

Remember that day trading involves risks, and losses are a possibility. Start with a cautious and systematic approach, focusing on learning and building experience over time. Be patient, disciplined, and adaptable as you navigate the complexities of day trading.

How to Choose a Forex Broker

How to Choose a Forex Broker

 

When it comes to selecting a forex broker, it is essential to take into account several crucial factors to ensure that you choose a provider that is reputable and suitable for your needs. Let’s explore these factors in detail:

 

Regulation and Trustworthiness:

Give priority to brokers regulated by reputable financial authorities. Regulations are in place to ensure that brokers adhere to specific standards and protect client funds.

 

It is important to research the regulatory bodies in your country and verify whether the broker is registered and compliant with their regulations.

 

Security of Funds:

Look for brokers that keep client funds separate from their operational funds. This segregation provides protection for your money in case the broker faces insolvency. Additionally, check if the broker offers account protection through investor compensation schemes.

 

Trading Platform and Tools:

Evaluate the broker’s trading platform, as it is where you will execute trades and manage your account. Make sure the platform is user-friendly, and stable, and offers essential features such as real-time charts, technical analysis tools, and order execution capabilities.

 

Consider whether the platform is available on desktop, web, and mobile devices for convenient access.

 

Product Offering:

Assess the range of currency pairs and other financial instruments available for trading. Ensure that the broker offers the specific currency pairs you are interested in, as well as any other instruments you may wish to trade, such as commodities or indices.

 

Execution and Spreads:

Understand the broker’s execution model and determine whether they offer market execution or use a dealing desk. Market execution typically provides faster order execution, while a dealing desk may involve potential conflicts of interest.

 

Additionally, compare the spreads (the difference between the buy and sell prices) offered by different brokers to find competitive rates.

 

Fees and Commissions:

Take into consideration the fees charged by the broker, including spreads, commissions, overnight financing charges, and any other transaction costs.

 

Evaluate the fee structure and compare it with other brokers to ensure that it aligns with your trading style and frequency.

 

Account Types and Minimum Deposit:

Review the various account types offered by the broker and the corresponding minimum deposit requirements. Choose an account type that suits your trading needs and financial capabilities.

 

Some brokers may also provide demo accounts for practice trading before committing real funds.

 

Customer Support:

Assess the quality of the broker’s customer support services, as you may require assistance with technical issues or account-related queries.

 

Check the availability and responsiveness of customer support channels such as phone, email, live chat, or online support tickets.

 

Educational Resources:

Consider whether the broker offers educational materials, webinars, or trading guides to support your learning and development as a forex trader.

 

Brokers that provide educational resources can be particularly beneficial, especially for beginners.

 

Reputation and Reviews:

Conduct thorough research on the broker’s reputation by reading reviews from other traders. Look for feedback on factors such as customer service, order execution, withdrawal process, and overall trading experience.

 

It is advisable to consider multiple sources of information to form a balanced assessment.

 

Deposit and Withdrawal Options:

Check the deposit and withdrawal methods offered by the broker. Ensure that there are convenient and secure options available that align with your preferences. Additionally, consider any associated fees or processing times.

 

Additional Features:

Evaluate any additional features or tools provided by the broker, such as social trading platforms, copy trading functionality, or trading signals. These features can enhance your trading experience and provide opportunities for learning and collaboration.

 

By considering these factors, you can make an informed decision when selecting a forex broker that meets your trading requirements and provides a secure and reliable trading environment.

The Best Forex Brokers in Namibia

In this comprehensive analysis, we have listed the best Forex brokers or Namibia day traders. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Namibian traders.

 

Best Forex Broker for beginner day traders in Namibia

Overall Rating

Min Deposit

470 NAD / 25 USD 

Regulators

FCA, ASIC, CySEC, JSC, FSCA, FSA, CMA

Trading Desk

MetaTrader 4, MetaTrader 5, Admirals Mobile App

Crypto

Yes

Total Pairs

82+

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Admirals is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Namibia. Regarding spread and security, Admirals guarantees fast trading speeds from a few milliseconds when day trading in Namibia. In terms of users, Admirals has over 7 million registered traders.

 

Best Forex broker with NAD-based accounts for Namibian day traders

Overall Rating

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

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, HFM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Namibia. Regarding spread and security, HFM guarantees fast trading speeds from a few milliseconds when day trading in Namibia. In terms of users, HFM has over 2.5 million registered clients around the world.

 

Best MT4 Forex broker for Namibia day traders

Overall Rating

Min Deposit

USD 100

Regulators

FSA

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, Tickmill is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Namibia. Regarding spread and security, Tickmill guarantees fast trading speeds from a few milliseconds when day trading in Namibia. In terms of users, Tickmill has over 38,000 registered clients in the UK.

 

Best MetaTrader 5 / MT5 Forex Broker in Namibia

Overall Rating

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

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Exness is the best MetaTrader 5 forex broker in Namibia. Traders can open an account with Exness and utilize MetaTrader 5 for trading. In addition, Namibians have access to MT5’s different tools and services, such as technical indicators and customizable charts.

 

Best Forex Broker for Beginners in Namibia

Overall Rating

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

Yes

Trading Fees

No (Just spread) 

Account Activation

24 Hours

 

Overall, XM is the best forex broker for beginners in Namibia. In addition, XM provides Namibians with an interactive example account and teaching materials.

Conclusion

In Conclusion the top 6 Best Day Trading Strategies are Trend Trading, Scalping, Momentum Trading, Breakout Trading, Reversal Trading and Range Trading.

 

Each strategy comes with its own set of principles and methodologies, providing traders with options that align with their risk tolerance, preferred timeframes, and market conditions.

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Frequently Asked Questions

What is day trading in Forex?

Buying and selling currencies on the foreign exchange market in a single trading day is the basis of this popular strategy.

 

Positions are closed at the end of each day and new ones are opened the next. Forex day traders purchase and sell currency pairs numerous times a day to take advantage of modest market fluctuations.

 

What is the difference between day trading and Forex trading?

Day trading forms part of Forex trading and is a popular technique that allows traders to focus on volatility in a single day. General Forex traders look at long-term positions and hold them for several days or even weeks.

 

Does Forex allow day trading?

Yes, the Forex markets allow for various trading strategies, of which day trading is one. It is important, however, that day traders find brokers who provide a good environment for holding short-term positions.

 

Which type of trading is most profitable?

Any type of trading can be profitable, as long as traders ensure they have enough market knowledge, use a disciplined approach, adopt a sound trading strategy, and sign up with a reputable broker offering them competitive trading conditions.

 

What is the most successful Forex Day strategy?

Different strategies will work for different traders, and it is crucial that traders of any strategy take the time for back-testing or practice in a demo account. The best day trading strategies for beginners are considered to be the following:

➡️ Trend trading

➡️ Swing trading

➡️ Scalping

➡️ Mean reversion

➡️ Money flow

9.3/10 - (12 votes)