Scam Forex Brokers in Namibia
3 Best Brokers with Minimum $5 Deposit in Namibia
The 3 Best Forex Brokers with a Minimum 5 USD Deposit in Namibia revealed. We tested and verified the best minimum of 5 Dollar (98 NAD) forex brokers for Namibia Traders.
This is a complete list of a minimum of Five Dollar deposit forex brokers in Namibia.
In this in-depth guide you’ll learn:
- What is a minimum $5 deposit broker?
- Who are the best $5 minimum deposit forex brokers for Namibians?
- Which minimum deposit brokers are best for beginner traders?
- Which NASDAQ Forex brokers offer a low minimum deposit?
- How to choose a forex broker – Compare them side by side against each other.
- Which brokers offer no minimum deposit?
- Which brokers offer a signup bonus for first-time traders?
And lots more…
So if you’re ready to go “all in” with the best-tested minimum $5 deposit forex brokers for Namibians…
Let’s dive right in…
- Louis Schoeman
Best Brokers with Minimum $5 Deposit in Namibia – Comparison
| 🥇 Broker | 🎉 Open an Account | 🚀 Trading Platforms | 📝 Regulation | 💻 Trading Accounts Offered |
| 1. XM | Open Account | MetaTrader 4, MetaTrader 5, XM Mobile App | FSCA, IFSC, ASIC, CySEC, DFSA | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 2. Alpari | Open Account | MetaTrader 4 and 5 | Financial Services Commission Mauritius (FSC), FSCA | Forex Standard Account (MT4), Forex Micro Account (MT4), Forex ECN Account (MT4/5), Forex Pro Account (MT4) |
| 3. HFM | Open Account | MetaTrader 4 and 5 | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
10 Best Forex Brokers in Namibia
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a $5 minimum deposit?
When a Forex broker lays down a requirement for a minimum deposit, it means that a trader opening an account with that broker must deposit that minimum amount in order to be able to open and trade in that account.
Forex brokers set various minimum deposit amounts, and $5 minimum deposits are considered affordable and a good option for beginner traders.
3 Best Brokers with a Minimum $5 Deposit in Namibia Summary
- XM – Overall, the Best Forex Broker for beginners
- Alpari – Best Low Minimum Deposit Forex Broker
- HF Markets – Best Nasdaq 100 Forex Broker
1. XM
XM was established in 2009 and offers its customers the opportunity to trade stocks, commodities, indexes, and foreign currency. 2015 marked the year that Trading Point of Financial Instruments Pty Ltd. became an official company and began operating as a provider of services.
Personalization and exceptional service are two aspects that XM prioritises for each and every one of its subscribers. MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms, are also available through XM.
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
Account holders at Trading Point of Financial Instruments Ltd. (Cyprus) have the option of selecting from a number of distinct trading account types, including the Micro Account, the Standard Account, the XM Ultra-Low Account, and the Shares Account. In addition to these account types, the broker provides an alternative known as an Islamic Account.
At XM, the typical spread is zero pips, and the minimum commission rate is one dollar per share. With XM, one can employ a maximum leverage ratio of 1:888, and the company also provides the option of opening a sample account as well as an Islamic account.
Unique Features
| Account Feature | Value |
| 📝 Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| ⚖️ BoN regulation | No |
| 💻 Social Media Platforms | Facebook, Twitter, YouTube, Instagram, LinkedIn |
| 🚀 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💸 Minimum Deposit | 5 USD / 98 NAD |
| 💰 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares |
| 📈 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account offered? | Yes |
| 📉 PAMM Accounts | No |
| 🎉 Open an account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| XM has more than 5 million active clients from around the world | Inactivity fees are charged to dormant accounts |
| XM has won multiple industry awards since its foundation in 2009 | There are no fixed spreads offered |
| There are no commissions charged on either deposits or withdrawals | |
| XM has more than 5 million active clients from around the world | |
| XM gives investor protection to Namibian traders | |
| XM has more than 5 million active clients from around the world |
2. Alpari
Traders in Namibia can open CFD trading accounts with Alpari International to begin investing in forex, metals, cryptocurrencies, and commodities futures. Trading tools, innovative trading platforms, interbank liquidity, and financial news are all things that can be of assistance to you along the way.
Overall Rating
- 4.7/5
Min Deposit
5 USD / 94 NAD
Regulators
FSC, FSCA
Trading Desk
MetaTrader4, MetaTrader5, Alpari Mobile App
Crypto
Total Pairs
61
Islamic Account
Trading Fees
Account Activation
Alpari is a well-established and well-respected broker in business since 1998. They have over 2 million customers from over 150 different countries.
Traders from Namibia can use Alpari to trade a wide variety of foreign exchange (FX) and contract-for-difference (CFD) instruments with competitive spreads, lightning-fast execution, and innovative trading tools.
Unique Features
| Account Feature | Value |
| 📝 Regulation | Financial Services Commission Mauritius (FSC), FSCA |
| ⚖️ BoN regulation | No |
| 💻 Social Media Platforms | Facebook, Twitter, Instagram |
| 🚀 Trading Accounts | Forex Standard Account (MT4), Forex Micro Account (MT4), Forex ECN Account (MT4/5), Forex Pro Account (MT4) |
| 📱 Trading Platform | MetaTrader 4 and 5 |
| 💸 Minimum Deposit | 5 USD / 98 NAD |
| 💰 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 📈 Minimum spread | From 0.4 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account offered? | Yes |
| 📉 PAMM Accounts | No |
| 🎉 Open an account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Alpari is a well-known broker in the Namibian market. | There is a limited range of financial assets |
| Traders with advanced skill levels have access to a wide range of tools, including AutoChartist, FxWirePro news, and many others. | There are no fixed spreads available at the time of writing |
| There are dynamic trading accounts available, which may cater to the requirements of a wide variety of traders. | |
| Over the course of its history as a broker offering trading services, Alpari has been recognised with several prestigious awards. |
3. HFM
HFM accepts clients from Namibia and provides a spread of 0 pips along with a commission that ranges from $6 to $8 round turn each trade.
Trading is available at HFM with a maximum leverage ratio of 1:1000, and the company also offers demo accounts and accounts compliant with Islamic law.
MT4, MT5, as well as the HF App, are all compatible with this. From its headquarters in Cyprus, HFM is subject to the regulation and oversight of a number of different financial authorities, including the FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.
Customers have the opportunity to trade in foreign exchange (FX) and commodities through HFM, which is a CFD broker.
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
Traders of any size or profile can execute whatever trading strategy they desire on fully automated trading platforms with access to a wide variety of liquidity providers and spreads thanks to HFM’s unconstrained liquidity. These platforms provide access to a wide range of liquidity providers.
Because HFM places so much of its attention and influence on the African, Asian, and MENA regions, more opportunities are created for people all over the world.
Because the trading service offered by HFM is carried out in line with the appropriate licences that govern the Forex business, consumers have the option to rely on it as a trustworthy choice. HFM was founded in 2010, and its headquarters are located in Cyprus, despite the fact that the broker’s services are offered in every region of the world.
Unique Features
| Account Feature | Value |
| 📝 Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| ⚖️ BoN regulation | No |
| 💻 Social Media Platforms | Facebook, Twitter, Telegram, Instagram, YouTube, LinkedIn |
| 🚀 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📱 Trading Platform | MetaTrader 4 and 5 |
| 💸 Minimum Deposit | 5 USD / 98 NAD |
| 💰 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 📈 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account offered? | Yes |
| 📉 PAMM Accounts | No |
| 🎉 Open an account | Open Account |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There are tight, competitive spreads starting at 0.0 pips on EUR/USD | Limited deposit and withdrawal methods |
| There is a demo account for beginners learning to trade as well as seasoned traders testing techniques. | |
| Namibian traders have access to MetaTrader 4 and 5 across PCs, mobile apps, and web-based platforms while trading HFM |
How to Choose a Forex Broker with a Minimum $5 Deposit 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.
A closer look at the $5 minimum deposit offered by Forex brokers
To get started trading forex, clients only need to deposit the minimum amount required by their forex broker, which is often $5.
Because certain forex brokers do not need a minimum deposit to open an account, and other brokers will let you open an account with them for as little as five dollars so that you can begin trading forex with them.
Traders who are just starting out can capitalise on this wonderful opportunity to gain experience and become more proficient before gradually increasing the size of their trading accounts. This allows beginner traders to begin their Forex trading journey with a low risk approach.
As part of a sound risk management strategy, it is recommended that beginner traders only invest small amounts incrementally until they have learnt the ropes of live market trading. It is also always recommended that you start practice trading in a demo account before attempting live market trading.
People who expect gaining a large amount of money through this method are setting themselves up for disappointment.
As you seek to gain higher profits you must ensure that you are investing higher amounts. However, investing small at first allows you to gain the necessary experience to navigate the markets successfully when it comes time to start making larger investments in your Forex trading activity.
Small accounts or beginning with a minimum deposit of as little as $5 helps traders in Namibia decrease their risks and potential losses while also giving them the opportunity to get expertise with live trading.
Even seasoned traders use smaller accounts so they can test out new trading techniques or hone their skills while still having the ability to bounce back quickly from any setbacks.
Because of the growing level of competition in the market, several forex brokers have lowered the amount of money that is required to open a trading account, with some offering accounts for as little as one dollar.
This is as a result of the high levels of liquidity, which greatly cut the transaction costs and fees that traders pay when trading forex. As a result, Namibian traders are able to access some of the top forex brokers while just making use of a little amount of cash.
The Best Forex Brokers in Namibia
In this article, we have listed the best brokers that offer Forex no-deposit brokers to Namibian traders. We have further identified the brokers that offer additional services and solutions to Namibian traders.
Best MetaTrader 4 / MT4 Forex Broker
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 MetaTrader 4 broker in Namibia. Due to its vast regulatory history with numerous governing bodies and its provision of large leverage ratios, Exness is a brokerage firm that enjoys significant popularity among traders. Due to its supply of round-the-clock customer support services, Exness enjoys a high level of respect among Namibian traders.
Best MetaTrader 5 / MT5 Forex Broker
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 MetaTrader 5 broker in Namibia. AvaTrade, a brokerage company renowned for its dependability, provides its clientele with a broad range of more than 1,250 trading alternatives on numerous financial markets. It is likely that Namibian traders would be lured in by the favourable terms offered by AvaTrade.
Best Forex Broker for beginners
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 forex trading platform for beginners in Namibia. A variety of trading methods are available from XM, with a focus on serving novice traders’ needs. For anyone looking to learn more about foreign currency trading, the XM platform offers a commendable starting point.
Best Low Minimum Deposit Forex Broker
Overall Rating
- 4.7/5
Min Deposit
5 USD / 94 NAD
Regulators
FSC, FSCA
Trading Desk
MetaTrader4, MetaTrader5, Alpari Mobile App
Crypto
Total Pairs
61
Islamic Account
Trading Fees
Account Activation
Overall, Alpari is the best minimum deposit forex trading platform in Namibia. Namibian traders have the ability to make deposits and withdrawals from their Alpari accounts using the widely used payment methods in their nation. Alpari offers fair spreads and competitive commission rates to its customers. A replica trading platform is one of the many services provided by Alpari, a well-known trading platform.
Best ECN Forex Broker
Overall Rating
- 4.7/5
Min Deposit
200 USD / 3,800 NAD
Regulators
FSA, CySEC, ASIC
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, IC Markets is the best ECN forex trading broker in Namibia. A well-known company with a solid reputation in the industry, IC Markets is active in the electronic communication network (ECN) trading space. A wide range of preferences and needs are successfully addressed by the variety of trading methods offered by IC Markets.
Best Islamic / Swap-Free Forex Broker
Overall Rating
- 4.6/5
Min Deposit
$50/945 NAD
Regulators
FCA
Trading Desk
MetaTrader 4, Trading Station
Crypto
Yes
Total Pairs
7
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXCM is the best Islamic/swap-free forex trading platform in Namibia. As the industry’s de facto gold standard for forex trading, FXCM caters to both the needs of individual retail traders and corporate clients. Foreign exchange broker FXCM was established in 1999 and is traded on the NYSE under the ticker code FXCM.
Best Forex Trading App
Overall Rating
- 4.6/5
Min Deposit
10 USD / 190 NAD
Regulators
CySEC, FSCA, FCA, CMA, FSC Mauritius
Trading Desk
MetaTrader 4, MetaTrader 5, FXTM Trader
Crypto
Yes
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FXTM has the best forex trading app in Namibia. With the help of a selection of three real-time trading accounts and a wide range of sophisticated trading instruments, FXTM offers its customers the chance to engage in trading. All users with active trading accounts at FXTM have access to the demo account.
Best Forex Rebates Broker
Overall Rating
- 4.7/5
Min Deposit
100 USD / 1,861 NAD
Regulators
CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader, FxPro Trading Platform
Crypto
Total Pairs
70+
Islamic Account
Trading Fees
Account Activation
Overall, FxPro is the Best Forex Rebates Broker in Namibia. The corporate office of the brokerage firm FxPro, which employs the STP (Straight Through Processing) and ECN (Electronic Communication Network) technologies, is located in the United Kingdom. The company takes great satisfaction in having a sizable clientele, which includes more than 1.8 million registered traders. Participating in trades at FxPro with specific instruments and account types will earn you rebates.
Best Lowest Spread Forex Broker
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 lowest spread forex trading platform in Namibia. Tickmill is a brokerage service that offers traders affordable prices, making it an affordable substitute. Tickmill also supports a wide range of trading tactics. Tickmill offers a variety of deposit choices, and using their platform for trading doesn’t incur any extra costs in the form of commission fees.
Best Nasdaq 100 Forex Broker
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 Nasdaq 100 forex trading platform in Namibia. HFM gives beginning traders the opportunity to start their trading activities with a small initial investment. The business also provides a variety of training resources to help and improve their educational experience. The maximum leverage ratio offered by HF Markets is 1:1000.
Best Volatility 75 / VIX 75 Forex Broker
Overall Rating
- 4.8/5
Min Deposit
250 USD / 4,700 NAD
Regulators
FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
Trading Desk
MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, IG is the best Volatility 75/VIX 75 forex trading platform in Namibia. Professional traders can access cutting-edge trading tools from IG that are at the front of technical advancement.
Best NDD Forex Broker
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 NDD forex trading broker in Namibia. A wide variety of alternatives are available at FP Markets for both depositing and withdrawing money. To determine pricing, FP Markets uses an established raw and constrained Electronic Communication Network (ECN) spread structure.
Best STP Forex Broker
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 STP forex trading broker in Namibia. The Oanda trading platforms offer complex functionality without requiring a minimum investment. A wide variety of advanced trading tools are available to Oanda’s customers.
Best Sign-up Bonus Broker
Overall Rating
- 4.7/5
Min Deposit
10 USD / 186 NAD
Regulators
FSC
Trading Desk
MT4, MT5, MobileTrader, StockTrader, WebTrader
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, RoboForex is the best sign-up bonus forex trading platform in Namibia. RoboForex offers its customers a comprehensive range of trading choices in addition to a 100% welcome bonus on their initial deposits.
Conclusion
Overall, losing trades are inevitable in foreign exchange trading. Always trade a smaller percentage of your account balance and with a lower initial deposit such as $5.
When selecting how much money to put into the account, it’s important to take your risk tolerance into mind.
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Frequently Asked Questions
Can you trade Forex with a $5 minimum deposit?
It is possible to get started trading forex with as little as $5, and in some instances even less than that. Minimum account balance restrictions of $1,000 are typically imposed by brokers.
How much should I start a Forex account with?
To begin trading in foreign exchange, many brokers will ask that you transfer at least one thousand dollars of cash to your account; however, some affordable brokers may permit you to start nano accounts for as little as five dollars.
Can I start Forex trading with a little money?
Because the costs of beginning trading are contingent on the sort of assets that are desired, there is no minimum amount that must be invested before trading can begin. There are several brokerages that require clients to deposit a certain minimum amount before they can begin trading or before they can access margin or options trading.
What is the secret of successful traders?
You can improve your chances of being successful in trading by formulating a trading plan, putting your attention on risk management and position sizing, maintaining a trading notebook, employing technical analysis, having reasonable expectations, and maintaining discipline. Keep in mind that success in trading involves time and work on top of the fact that it is a journey.
Which type of trading is most profitable?
Intraday trading is a sort of trading that requires you to buy and sell your stocks on the same day, typically before the market closes for the day. Throughout the course of the day, you need to keep an eye on your market position and be on the lookout for favourable buying and selling opportunities. If you choose the appropriate stocks to invest in, intraday trading can be an excellent strategy for generating quick returns.
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