Scam Forex Brokers in Namibia
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…
- Louis Schoeman
10 Best Micro Account Forex Brokers in Namibia – Comparison
| 🥇 Broker | 🎉 Open Account | ✔️ Micro Account Broker? | 💵 Minimum Deposit | Allows Namibian Traders? |
| 1. Exness | Open Account | Yes | USD 10 / 185 NAD | Yes |
| 2. AvaTrade | Open Account | Yes | USD 100 / 1853 NAD | Yes |
| 3. easyMarkets | Open Account | Yes | USD 25 / 487 NAD | No |
| 4. OANDA | Open Account | Yes | USD 0 / 0 NAD | No |
| 5. IG | Open Account | Yes | USD 0 / 0 NAD | No |
| 6. HF Markets | Open Account | Yes | 0 USD / 0 NAD | Yes |
| 7. Pepperstone | Open Account | Yes | USD 0 / 0 NAD | Yes |
| 8. Alpari | Open Account | Yes | USD 0 / 0 NAD | No |
| 9. OctaFX | Open Account | Yes | USD 5 / 97 NAD | Yes |
| 10. XM | Open Account | Yes | USD 5 / 97 NAD | Yes |
10 Best Forex Brokers in Namibia
Rank
Broker
Review
Regulators
Min Deposit
Official Site
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)
- Exness – Overall, Best Micro Account Forex Brokers in Namibia
- AvaTrade – Most Trusted Online Brokers in the World
- easyMarkets – Commissions Are Not Offered on Any Trades
- Oanda – Regulated by Several Tier-1 Regulators
- IG – Traders Can Get Free Trading Signals
- HF Markets – Offers Several Account Types to Choose From
- Pepperstone – No Fees Charged on Deposits
- Alpari – Dedicated Customer Support Team
- OctaFX – Accepts Hedging and Scalping Strategies
- XM – Negative Balance Protection is Applied to Retail Investor Accounts
1. Exness
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
- 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
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
| Feature | Information |
| 📈 Account Base Currencies | AED, 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 Spread | 0.0 pips EUR/USD |
| 💳 Namibian Deposits/Withdrawals | Yes |
| 💵 Minimum Deposit | USD 10 / 195 NAD |
| 📊 Account Types | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📈 Leverage | Unlimited |
| 📊 Micro Account Offered? | No |
| 📈 Trading Tools | Analytical tools, Trading calculators, currency converter, tick history, economic calendar |
| 💻 Educational Material | None |
| 👥 Namibian-Based Customer Support | No |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness has a global presence and has authorization and regulation with market regulators around the globe | There is a limited selection of tradable instruments and only a few asset classes |
| Exness offers instant withdrawals and deposits | There 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 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
- 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
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
| 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 and Cons
| ✔️ 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. |
3. easyMarkets
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
- 4.7/5
Min Deposit
25 USD / 470 NAD
Regulators
BVI FSC, CySEC, ASIC, FSA
Trading Desk
easyMarkets App, Web Platform, TradingView, MT4, MT5
Crypto
Total Pairs
62
Islamic Account
Trading Fees
Account Activation
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 Feature | Value |
| 💻 Platform Offered | MetaTrader 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 Deposit | USD 25 / 487 NAD |
| 📈 Maximum Leverage | 1:400 |
| 💸 Commission Fees | None |
| 💵 Account Fees | None |
| 💳 Deposit and Withdrawal Fees | None |
| 📞 Customer Telephonic Support | Yes |
| 👥 Personal Account Manager | Yes |
| 📱 24/5 Customer Support Through Live Chat | Yes |
| 0️⃣ Guaranteed Zero Slippage | No |
| 🛑 Guaranteed Stop-Loss | Yes |
| ✅ Negative Balance Protection | Yes |
| 📧 Daily Email on Fundamental Analysis | Yes |
| 📧 Daily Email on Technical Analysis | Yes |
| 🚨 Trading Central Indicator | No |
| 💸 Account Base Currency Options | EUR, 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 regulators | easyMarkets 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 options | There is no NAD-denominated account offered |
| There are fixed spread accounts offered and transparent trading fee schedules | There 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 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
- 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
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 Feature | Value |
| 💵 Minimum Deposit | USD 0 / 0 NAD |
| 📊 Average Spreads | 1.1 |
| 💸 Commissions (Per 1 mil traded) | None |
| 📈 Minimum order size | 0.01 lots |
| 🔧 Instruments | Over 200 |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| ✔️ One-Click Trading offered? | Yes |
| ✔️ Strategies allowed | All |
| 💵 Base Account Currency | USD, EUR, HKD, SGD |
| 👉 Open an account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| OANDA is registered, licensed, and regulated by several Tier-1 regulators | There are no fixed spread accounts offered by OANDA |
| OANDA offers flexible and user-friendly trading platforms, in addition to a proprietary trading platform | There is a withdrawal fee and an inactivity fee |
| There are three dynamic account types to choose from and there is a designated Islamic Account | There 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
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
- 4.8/5
Min Deposit
USD 0 / 0 NAD
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Total Pairs
80
Islamic Account
Trading Fees
Account Activation
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
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, CFTC, FINRA, NFA, BMA |
| ✔️ CBN Regulation? | No |
| 📊 Trading Accounts | IG Trading Account, IG Professional Account, IG Options Trading Account, IG Turbo24 Account, Limited Risk Account, Share Dealing Account, Exchange Account (NADEX) |
| 💻 Trading Platform | MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API |
| 💰 Minimum Deposit (NAD) | USD 0 / 0 NAD |
| 💸 Trading Assets | Forex, Shares, Indices, Commodities, Cryptocurrencies, Interest Rates, Bonds, ETFs, Futures, Options |
| 🔎 Namibian-based Account? | No |
| 💵 NAD Deposits Allowed? | Yes |
| 💰 Bonuses for Namibian traders? | No |
| 📈 Minimum spread | 0.1 pips (DMA) on EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✅ Social Trading Offered | No |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Offers a significant range of financial instruments, including Namibian-specific trading instruments | High minimum deposit charged |
| There are several powerful trading platforms offered | Inactivity 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 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
- 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
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
| 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 and Cons
| ✔️ 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 |
7. Pepperstone
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
- 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
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 Feature | Value |
| 💰 Minimum Deposit | USD 0 / 0 NAD |
| 💸 Minimum Trading Size | 0.01 lots |
| 📉 Maximum Trading Size | 100 lots in a single trade |
| 💰 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
| 💵 Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
| 🗞 News Trading Offered? | Yes |
| ✔️ Trade Execution | No-Dealing Desk (NDD) |
| 📊 Average EUR/USD Spread | From 0.6 pips |
| 💵 Commissions | None |
| 💰 Rollover Swaps | Yes, 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 Offered | Yes, only for retail clients |
| 🛑 Margin Close-Out (%) | 50% |
| 🔧 Trading Instruments offered | 1,200+ |
| 💻 Trading Platforms offered | MetaTrader 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 platforms | There is no NAD-denominated account for Namibian traders |
| Pepperstone offers competitive trading conditions and trading accounts that suit all types of traders | There are restrictions on the countries that can access the Pepperstone Islamic Account |
| Namibians can expect award-winning customer support in several languages | Additional admin fees apply to the Islamic account |
| There are several flexible account funding and withdrawal options offered | There are leverage restrictions applied to certain regions |
| Pepperstone is well-regulated and guarantees client fund security | Negative 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
- 4.7/5
Min Deposit
USD 0 / 0 NAD
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Total Pairs
48
Islamic Account
Trading Fees
Account Activation
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
| Feature | Information |
| ⚖️ Regulation | FSC, FSCA |
| ⚖️ BoN Regulation? | No |
| 📊 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account |
| 📊 Trading Platform | MetaTrader4, MetaTrader5, Alpari Mobile App |
| 💰 Minimum Deposit (NAD) | 5 USD / 93 NAD |
| 💰 Trading Assets | Forex 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 spread | 0.4 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | No |
| 🎉 Open Account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated and award-winning CFD broker | Fixed spreads are not offered |
| Offers forex trading signals from AutoChartist and automatic trading | Not 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 devices | There is a limited selection of trading instruments, educational tools, and research |
| News is streamed from FxWirePro | There 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 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
- 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
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA SVG, CySEC |
| ⚖️ BoN Regulation | No |
| ✔️ Accepts Namibian Traders? | Yes |
| 💳 Minimum deposit | USD 5 / 97 NAD |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:500 |
| 👥 Customer Support | 24/5 |
| 👉 Open Account | 👉 Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Fixed spread accounts are offered to retail traders | US clients are restricted |
| The broker accepts hedging and scalping strategies | There 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 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
- 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
XM is a good company, with a wide selection of financial instruments and trading platforms.
Unique Features
| 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 and Cons
| ✔️ 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 |
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
- 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 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
- 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 clients’ 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 utilisation 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 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
- 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, 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.
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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.
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