Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

10 Best Micro Account Forex Brokers in Namibia

The 10 Best Micro Account Forex Brokers in Namibia revealed. We tested and verified the best micro account forex brokers for Namibian Traders.

This is a complete list of the best micro account forex brokers in Namibia.

In this in-depth guide you’ll learn:

  • What are micro accounts? 
  • Who are the best micro account forex brokers?
  • How to choose a forex broker – Compare them against each other.
  • Which brokers are best for beginner traders?
  • What is the difference between a micro account and a cent account?
  • Which brokers offer the best micro account lot size?
  • Which broker offers a low minimum deposit of $5 (86 NAD)?
  • Which trading platforms can you use with M-PESA?


And lots more…

So if you’re ready to go “all in” with the best-tested micro account forex brokers for Namibians…

Let’s dive right in…

Updated : August 21, 2024

10 Best Micro Account Forex Brokers in Namibia – Comparison

🥇 Broker🎉 Open Account✔️ Micro Account Broker?💵 Minimum DepositAllows Namibian Traders?
1. ExnessOpen AccountYesUSD 10 / 185 NADYes
2. AvaTradeOpen AccountYesUSD 100 / 1853 NADYes
3. easyMarketsOpen AccountYesUSD 25 / 487 NADNo
4. OANDAOpen AccountYesUSD 0 / 0 NADNo
5. IGOpen AccountYesUSD 0 / 0 NADNo
6. HF MarketsOpen AccountYes0 USD / 0 NADYes
7. PepperstoneOpen AccountYesUSD 0 / 0 NADYes
8. AlpariOpen AccountYesUSD 0 / 0 NADNo
9. OctaFXOpen AccountYesUSD 5 / 97 NADYes
10. XMOpen AccountYesUSD 5 / 97 NADYes

10 Best Forex Brokers in Namibia

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

CySEC, FSA, FCA, FSC, FSCA, CMA

$10

#3

FSC, DFSA, CySEC, ASIC, CMA

$5

#4

FSA, CySEC, FSCA, FSC

$1

#5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

$0

#6

CySEC, ASIC, FSCA

$100

#7

FSCA, FSC, FSA

$10

#9

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

#10

Read Review

FSCA, FSA

$5

#1

$100

Minimum Deposit

#2

$10

Minimum Deposit

#3

$5

Minimum Deposit

#4

$1

Minimum Deposit

#5

$0

Minimum Deposit

#6

$100

Minimum Deposit

#7

$10

Minimum Deposit

#8

$5

Minimum Deposit

#9

$10

Minimum Deposit

#10

$5

Minimum Deposit

What is a micro account in Forex trading?

Beginners and retail traders can participate in foreign currency markets using micro accounts, which include smaller trading quantities.

 

The minimum contract size for a micro account is 1,000 micro lots or 1% of the size of a regular lot.

10 Best Micro Account Forex Brokers in Namibia (Updated 2024)

  1. Exness – Overall, Best Micro Account Forex Brokers in Namibia
  2. AvaTrade – Most Trusted Online Brokers in the World
  3. easyMarkets – Commissions Are Not Offered on Any Trades
  4. Oanda – Regulated by Several Tier-1 Regulators
  5. IG – Traders Can Get Free Trading Signals
  6. HF Markets – Offers Several Account Types to Choose From
  7. Pepperstone – No Fees Charged on Deposits
  8. Alpari – Dedicated Customer Support Team
  9. OctaFX – Accepts Hedging and Scalping Strategies
  10. XM – Negative Balance Protection is Applied to Retail Investor Accounts

1. Exness

Exness review

 

Founded in 2008, Exness is a broker which has since gained steam in the market and now boasts nearly 60,000 active client accounts from all over the world.

 

Traders gravitate towards Exness due to its regulatory oversight and licensing from the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

 

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

 

Exness offers several flexible account types and financial instruments to suit various strategies.

 

The micro account is designed for newbie traders as it allows them to trade smaller volumes with much smaller trading units (micro-lots). This account has a low minimum deposit of just 1 USD. Your orders will be executed with market execution.

 

Unique Features

FeatureInformation
📈 Account Base CurrenciesAED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR
📊 Minimum Spread0.0 pips EUR/USD

💳 Namibian Deposits/WithdrawalsYes

💵 Minimum DepositUSD 10 / 195 NAD
📊 Account TypesStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📈 LeverageUnlimited
📊 Micro Account Offered?No
📈 Trading ToolsAnalytical tools, Trading calculators, currency converter, tick history, economic calendar
💻 Educational MaterialNone

👥 Namibian-Based Customer SupportNo
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Exness has a global presence and has authorization and regulation with market regulators around the globeThere is a limited selection of tradable instruments and only a few asset classes
Exness offers instant withdrawals and depositsThere are only a few funding options offered
Namibian traders have a choice between several dynamic account types
Client fund safety is guaranteed and there is investor protection offered
Exness offers 24/7 customer support that is both prompt and helpful
There are tight and variable spreads offered with competitive commissions

 

 

2. AvaTrade

Avatrade review

 

AvaTrade is an award-winning online broker offering Contracts for Difference (CFDs) on Commodities, Stocks, Indices, Cryptocurrencies and more. The company is regulated across 6 jurisdictions with a global clientele in over 150 countries. 

 

Traders benefit from tight spreads, easy deposit methods, multilingual customer support, 1000+ instruments, immediate execution of positions, and access to live liquidity through a wide range of platforms. 

 

Overall Rating

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

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

AvaTrade provides multiple online forex trading platforms including MT4, MT5, DupliTrade, WebTrader, AvaOptions, and the AvaTradeGO mobile app – there’s something for everyone. Forex Traders also enjoy real-time updates to stay on top of the market.

 

Unique Features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
✔️ BoN Regulation?No
📊 Trading AccountsRetail Investor Account, Professional Account Option
💻 Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💰 Minimum Deposit (NAD)100 NAD / 1,862 NAD
💵 Trading AssetsForeign 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 spread0.9 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✅ Social Trading OfferedYes
👉 Open AccountOpen Account

 

Pros and Cons

✔️ Pros ❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the worldVariable spreads are not offered
There is a wide range of financial instruments that can be traded across financial marketsThere is a limited choice between account types
There are several technical indicators, economic indicators, and other solutions for advanced tradersInactivity fees are applied
There are several trading platforms to choose fromCurrency 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 toThere 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.

 

 

3. easyMarkets

EasyMarkets review

 

easyMarkets is an online market maker that provides a trading platform for Contracts for Difference (CFDs).

 

easyMarkets offers CFD trading in various asset classes including forex, metals, agricultural goods, energy, indices, and cryptocurrencies.

 

Overall Rating

Min Deposit

25 USD / 470 NAD

Regulators

BVI FSC, CySEC, ASIC, FSA

Trading Desk

easyMarkets App, Web Platform, TradingView, MT4, MT5

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

The easyMarkets trading platform is known for its innovative features, including its proprietary deal cancellation tool, and its emphasis on transparent pricing. 

 

The company is home to over 300 markets and various trading instruments including spot trades, forwards, and options.

 

Unique Features

Account FeatureValue
💻 Platform OfferedMetaTrader 4
💰 Minimum Transaction Size (USD)0.01
💸 Maximum Transaction Size (lots)50 lots
📊 Average Fixed Spreads (from)• EUR/USD – 1.7 pips
• GBP/USD – 2.3 pips
• USD/JPY – 2 pips
• WTI (OIL) – 0.05 USD
• XAU/USD – 0.45 USD
💵 Minimum DepositUSD 25 / 487 NAD
📈 Maximum Leverage1:400
💸 Commission FeesNone
💵 Account FeesNone
💳 Deposit and Withdrawal FeesNone
📞 Customer Telephonic SupportYes
👥 Personal Account ManagerYes
📱 24/5 Customer Support Through Live ChatYes
0️⃣ Guaranteed Zero SlippageNo
🛑 Guaranteed Stop-LossYes
✅ Negative Balance ProtectionYes
📧 Daily Email on Fundamental AnalysisYes
📧 Daily Email on Technical AnalysisYes
🚨 Trading Central IndicatorNo
💸 Account Base Currency OptionsEUR, CAD, CZK, JPY, NZD, AUD, PLN, TRY, CNY, HKD, USD, SGD, CHF, GBP, MXN, NOK, SEK, ZAR, BTC
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
easyMarkets is well-regulated by Tier-1, Tier-2, and Tier-3 regulatorseasyMarkets is a market maker broker that takes the opposite side in trades, which means that the broker profits from the losses experienced by traders
easyMarkets offers a choice between several retail accounts and trading optionsThere is no NAD-denominated account offered
There are fixed spread accounts offered and transparent trading fee schedulesThere is an inactivity fee charged
Commissions are not charged on any trades
There are no deposit or withdrawal fees
easyMarkets offers instant withdrawals and supports NAD
There is a proprietary easyMarkets trading app provided
The broker offers free guaranteed stop-loss orders, Trading Central, and trading signals

 

 

4. Oanda

Oanda review namibia

 

OANDA offers clients exposure to a variety of financial instruments but is a good fit for seasoned traders looking for stellar desktop trading experience. 

 

Overall Rating

Min Deposit

0 USD / 0 NAD

Regulators

FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA

Trading Desk

MetaTrader 4, OANDA Platform, TradingView

Crypto

Yes

Total Pairs

45

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Product offerings vary by region. For example, U.S. clients can only trade FX, but the broker boasts fast and reliable trade execution, research resources that are above industry norms, functional user interfaces, and a verifiable track record of regulatory oversight.

 

Unique Features

Account FeatureValue
💵 Minimum DepositUSD 0 / 0 NAD
📊 Average Spreads1.1
💸 Commissions (Per 1 mil traded)None
📈 Minimum order size0.01 lots
🔧 InstrumentsOver 200
📞 Margin Call100%
🛑 Stop-Out50%
✔️ One-Click Trading offered?Yes
✔️ Strategies allowedAll
💵 Base Account CurrencyUSD, EUR, HKD, SGD
👉 Open an account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
OANDA is registered, licensed, and regulated by several Tier-1 regulatorsThere are no fixed spread accounts offered by OANDA
OANDA offers flexible and user-friendly trading platforms, in addition to a proprietary trading platformThere is a withdrawal fee and an inactivity fee
There are three dynamic account types to choose from and there is a designated Islamic AccountThere is no NAD-denominated account offered to Namibian traders
OANDA offers advanced trading tools to more experienced Namibian traders
There is an ultra-low minimum deposit requirement when registering an account with OANDA
There are several trading guides and educational videos offered
There is a selection of reliable deposit and withdrawal options offered
OANDA provides competitive trading conditions

 

 

5. IG

IG review

 

As the world’s largest financial spread betting and CFD broker by revenue, and winning highly-acclaimed awards such as Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017), IG Markets is an attractive choice for both the beginner and the seasoned trader.

 

Overall Rating

Min Deposit

USD 0 / 0 NAD

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

With regulation from the FCA, ASIC, and the FSCA, award-winning technology and over 195,000 clients worldwide IG Markets is a principal player in the CFD, Forex trading and spread betting industries.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA
✔️ CBN Regulation?No
📊 Trading AccountsIG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX)
💻 Trading PlatformMetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
💰 Minimum Deposit (NAD)USD 0 / 0 NAD
💸 Trading AssetsForex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options
🔎 Namibian-based Account?No
💵 NAD Deposits Allowed?Yes
💰 Bonuses for Namibian traders?No
📈 Minimum spread0.1 pips (DMA) on EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✅ Social Trading OfferedNo
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Offers a significant range of financial instruments, including Namibian-specific trading instrumentsHigh minimum deposit charged
There are several powerful trading platforms offeredInactivity fees apply
There are competitive trading conditions that include low spreads, low commissions, and reliable trade execution
Traders can get free trading signals
There is a comprehensive IG Academy offered with dedicated educational resources
Convenient funding options provided along with free deposits and withdrawals
FIX API Direct Market Access trading is offered
There are Swap-Free Accounts offered for Islamic traders

 

 

6. HF Markets

HF Markets review

 

HF Markets has covered a significant part of the financial markets by offering Forex, Metals, Energies, Indices, Shares, CFDs, ETFs, and Binary Options through its different trading accounts. 

 

HF Markets certainly understands its clients’ tastes and preferences, which is why they have incorporated a multitude of trading instruments to offer a diverse product portfolio. However, when it comes to choosing an account, HF Markets provides nine different types of accounts, which is a lot for the average trader. 

 

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

 

HF Markets is regulated by several bodies including CySEC, CFTC and the FSC of Mauritius, and offers attractive bonuses to traders in eligible jurisdictions.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
💻 BoN Regulation?No
📊 Trading AccountsCent Account, Premium Account, Zero Account, Pro Account
📈 Trading PlatformMetaTrader 4, MetaTrader 5, HFM App
💰 Minimum Deposit (NAD)0 USD / 0 NAD
💵 Trading AssetsForex 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 spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes
🎉 Open AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated in several global regionsThere are no variable spread accounts
Offers some of the lowest spreads in the forex market on major currency pairsThere 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

 

 

7. Pepperstone

Pepperstone review

 

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients.

 

Pepperstone is considered safe since it’s regulated by two top-tier financial authorities, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

 

Overall Rating

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

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Forex and equity index fees are low. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

 

Unique Features

Account FeatureValue
💰 Minimum DepositUSD 0 / 0 NAD
💸 Minimum Trading Size0.01 lots
📉 Maximum Trading Size100 lots in a single trade
💰 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
💵 Trading Strategies SupportedAll including scalping, hedging, and Expert Advisors (EAs)
🗞 News Trading Offered?Yes
✔️ Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadFrom 0.6 pips
💵 CommissionsNone
💰 Rollover SwapsYes, according to the market rates
📊 Maximum Leverage per region• Australia – 1:30
• Bahamas – 1:200
• Cyprus – 1:30
• Dubai – 1:30
• Germany – 1:30
• Kenya – 1:400
• United Kingdom – 1:30
⚖️ Negative Balance Protection OfferedYes, only for retail clients
🛑 Margin Close-Out (%)50%
🔧 Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Namibian traders are given access to powerful and user-friendly trading platformsThere is no NAD-denominated account for Namibian traders
Pepperstone offers competitive trading conditions and trading accounts that suit all types of tradersThere are restrictions on the countries that can access the Pepperstone Islamic Account
Namibians can expect award-winning customer support in several languagesAdditional admin fees apply to the Islamic account
There are several flexible account funding and withdrawal options offeredThere are leverage restrictions applied to certain regions
Pepperstone is well-regulated and guarantees client fund securityNegative balance protection is limited to certain regions
There is a decent selection of trading tools for advanced Namibian traders
Social trading opportunities are offered
There are no fees charged on deposits

 

 

8. Alpari

Alpari International operates a web-based MetaTrader 4 and MetaTrader 5 platform, with a dealing desk. Both platforms will provide a great level of flexibility, including modern and intuitive charting tools and simple navigation.

 

If you open an MT4 Micro Account, you will have access to instant order execution, with margin calls at 50% and stopouts set to 30%. The standard MT4 account also offers instant execution, however, margin calls are set slightly higher at 60%.

 

Overall Rating

Min Deposit

USD 0 / 0 NAD

Regulators

FSC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

For more experienced traders, the ECN accounts may be more appealing. These offer margin calls of 100%, although pending orders are set at a maximum of 300.

 

Unique Features

FeatureInformation
⚖️ RegulationFSC, FSCA
⚖️ BoN Regulation?No
📊 Trading AccountsForex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account
📊 Trading PlatformMetaTrader4, MetaTrader5, Alpari Mobile App
💰 Minimum Deposit (NAD)5 USD / 93 NAD
💰 Trading AssetsForex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices
🔎 Namibian Naira-based Account?Yes
💳 NAD Deposits Allowed?Yes
💰 Bonuses for Namibian traders?Yes
📈 Minimum spread0.4 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedNo
🎉 Open AccountOpen Account

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated and award-winning CFD brokerFixed spreads are not offered
Offers forex trading signals from AutoChartist and automatic tradingNot regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission, or any other popular market regulators
MetaTrader 4 and MetaTrader 5 are supported across devicesThere is a limited selection of trading instruments, educational tools, and research
News is streamed from FxWireProThere are restrictions on several jurisdictions
A dedicated customer support team offers multilingual customer support
Offers unique solutions to both beginner and experienced traders
There are four retail investor accounts to choose from, demo accounts, and Islamic accounts
There are several convenient funding options to choose from and deposit fees are not charged

 

 

9. OctaFX

Octafx review

 

OctaFX was founded in 2011 and offers Forex ECN trading, as well as CFD trading on Indices, Metals and Cryptocurrencies, across the MetaTrader and cTrader suite of trading platforms for Windows Desktop, Web (Windows and Mac) and Mobile (Android and iOS).

 

Overall Rating

Min Deposit

25 USD / 470 NAD

Regulators

CySEC, SVG, FSA

Trading Desk

MT4, MT5, OctaTrader

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Unique Features

FeatureInformation
⚖️ RegulationFSA SVG, CySEC
⚖️ BoN RegulationNo
✔️ Accepts Namibian Traders?Yes
💳 Minimum depositUSD 5 / 97 NAD
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:500
👥 Customer Support 24/5
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Fixed spread accounts are offered to retail tradersUS clients are restricted
The broker accepts hedging and scalping strategiesThere are only a few financial markets that can be traded
Negative balance protection is applied to retail investor accounts
The broker is well-regulated and has a decent trust score
There is commission-free trading

 

 

10. XM

XM review

 

XM has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks, CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

 

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

 

XM is a good company, with a wide selection of financial instruments and trading platforms.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, IFSC
⚖️ BoN RegulationNo
✔️ Accepts Namibian Traders?Yes
💳 Minimum deposit (NGN)USD 5 / 97 NAD
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:888
👥 Customer Support 24/5
🎉 Trading PlatformDesktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
👉 Open Account👉 Open Account

 

Pros and Cons

✔️ Pros❌ Cons
Negative balance protection is applied to retail investor accountsUS clients are restricted from accessing XM’s trading services
There are several secure payment methods to choose fromThere are no fixed spread accounts offered
The broker is known for low spreads, low commissions, and reliable trade execution speedsThere 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

 

 

How to choose a Forex Broker in Namibia

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 requirements, commissions and spreads, initial deposits, 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

Min Deposit

USD 0 / 0 NAD

Regulators

FCA, ASIC, FSCA, SCB

Trading Desk

MetaTrader 4, Trade Nation proprietary platform

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

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

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 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

Min Deposit

USD 10 / 195 NAD

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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

Min Deposit

0 USD / 0 NAD

Regulators

FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA

Trading Desk

MetaTrader 4, OANDA Platform, TradingView

Crypto

Yes

Total Pairs

45

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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

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

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Pepperstone is the best ECN forex broker in Namibia. Pepperstone is capable of handling multiple order fills, allowing it 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

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, 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

Min Deposit

100 AUD / 1,200 NAD

Regulators

ASIC, CySEC, CMA, FSCA

Trading Desk

MT4, MT5, IRESS, cTrader, FP Markets App

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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

Min Deposit

95 NAD / 5 USD 

Regulators

IFSC, CySEC, ASIC, FSCA 

Trading Desk

FBS Trader, MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

36

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

 

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 clients’ funds are safe.

 

Best Forex Brokers Nasdaq 100 Forex Broker in Namibia

Overall Rating

Min Deposit

25 USD / 470 NAD

Regulators

CySEC, SVG, FSA

Trading Desk

MT4, MT5, OctaTrader

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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 utilisation of STP (Straight Through Processing) and ECN models.

 

Best Forex Brokers Volatility 75 / VIX 75 Forex Broker in Namibia

Overall Rating

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

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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

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 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

Min Deposit

$10 / 195 NAD

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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 centres. 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

Min Deposit

100 USD / 1,900 NAD

Regulators

Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA

Trading Desk

MT4, MT5, Tickmill Mobile

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

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, traders open micro accounts primarily because it allows them to trade in live trading conditions despite their limited capital.

 

A potential trader can buy and sell foreign exchange pairs in the same way that anyone using a conventional account can but with far less of an initial investment.

Frequently Asked Questions

How much is 1 micro lot in Forex?

A micro lot in forex trading is 1,000 units of the base currency in a currency pair, which allows for smaller positions with more refining of position sizes than a mini or standard lot.

 

What is the minimum deposit for a micro account?

A micro account typically requires a minimum deposit of $1. 

 

Is a micro account the same as a cent account?

No. Cent accounts will typically have different trading conditions than micro accounts, including floating spreads and lower leverage.

 

Is a micro account profitable?

You won’t make as high a profit as you would with a standard account, but with the right leverage ratio and trading strategy, you can make profits on a micro account. 

 

Which type of trading account is best for beginners?

Beginner traders should start by practicing in a demo account, and then begin live trading in a micro account in order to minimize their risk.

9.4/10 - (13 votes)