Forex Brokers Namibia
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Forex Brokers Namibia

7 Best Swap Free Account Brokers in Namibia

The 7 Best Swap Free Forex Brokers in Namibia revealed.

This is a complete list of the best licensed Islamic swap-free brokers in Namibia.

In this in-depth guide you’ll learn:

  • What is Swap-Free?
  • Who are the best Islamic Swap-Free brokers for Namibians?
  • How to choose the right broker for your trading style?
  • How to begin trading with a Shariah-compliant broker?
  • Which Halal brokers offer the lowest spreads?
  • Which broker offers a minimum deposit of $5 (86 NAD) to start trading?
  • Which broker offers a sign-up bonus to first-time traders?

And lots more…

So, if you’re ready to go “all in” as a Muslim trader with the best-tested Islamic swap-free brokers for Namibians…

Let’s dive right in…

Updated : January 3, 2024

7 Best Swap Free Account Brokers in Namibia – Comparison 

🥇 Broker🎉 Open Account✔️ Swap Free Forex Broker?💵 Minimum DepositAllows Namibian Traders?
1. ExnessOpen AccountYesUSD 10 / 185 NADYes
2. AvaTradeOpen AccountYesUSD 100 / 1,853 NADYes
3. HF MarketsOpen AccountYes0 USD / 0 NADYes
4. TickmillOpen AccountYesUSD 100 / 1,853 NADYes
5. FBSOpen AccountYesUSD 5 / 92 NADNo
6. XMOpen AccountYesUSD 5 / 92 NADNo
7. CM TradingOpen AccountYesUSD 100 / 1,853 NADNo

Top 10 Brokers

Broker

Rating

Regulators

Min Deposit

Leverage

Sign Up Bonus

Spreads

Website

1

9/10

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

$10

1:Unlimited

10%

0.1 pips

2

8/10

ASIC, FSA

$100

1:400

40 USD

0.91 pips

3

8/10

FCA, ASIC, FSCA, SCB

$0

1:200

1000 Points

0.4 pips

4

7.8/10

CySEC, FSC, CFTC

$5

1:500

30 USD

1 pips

5

7.7/10

FSA, FSCA

$100

1:200

20 USD

0.9 pips

6

7.6/10

FSA, CySec

$1

1:3000

30 USD

0.3 pips

7

8/10

IFSC, CySEC

$100

1:3000

100 USD

0 pips

8

7/10

FSC, IFSC, MFSC

$10

1:400

50%

0.4 pips

9

7.9/10

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

$0

1:200

1000 USD

0.2 pips

10

7.6/10

CySec, FSC, FSA, BaFin, NFA

$100

1:200

30%

1.5 pips

Top 10 Brokers

Broker

Deposit

Leverage

Website

1

$10

1:Unlimited

2

$100

1:400

3

$0

1:200

4

$5

1:500

5

$100

1:200

6

$100

1:3000

7

$100

1:3000

8

$10

1:400

9

$0

1:200

10

$100

1:200

What is swap-free trading in Forex?

To avoid the rollover or overnight cost, Islamic swap-free trading accounts are set up uniquely. Account holders who leave their funds in their trading accounts for more than 24 hours are not charged interest, which is against Sharia law according to the Riba principle.

7 Best Swap Free Account Brokers in Namibia Summary

  1. Exness – Overall, the Best Swap Free Account Broker in Namibia
  2. AvaTrade – Offers Several Trading Platforms to Choose From
  3. HF Markets – Well-Regulated in Several Global Regions
  4. Tickmill – Advanced Trading Tools Offered
  5. FBS – Super Low-Minimum Deposit Required
  6. XM – Negative Balance Protection on All Accounts
  7. CM Trading – Supports Copy Trading

1. Exness

Exness review

 

After launching in 2008, Exness has quickly grown to process monthly trade volumes of more than $180 billion. This is one of the most widely used and easily available brokers in Namibia, providing customers with access to over 200 different financial products through a variety of account types and a wealth of other services.

 

Though Exness is not supervised by the Bank of Namibia (BoN), it is subject to oversight by several reputable regulatory bodies and has earned a solid reputation among Namibian traders.

 

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 is well-known for its efficiency across all account types and for providing trading conditions that are widely regarded as among the best in the industry.

 

Electronic payment media provide traders with immediate access to funds, and traders also have the option of using leverage with Exness. 

 

Exness Overview

Account FeatureValue
💻 Trading PlatformsMetaTrader mobile, Exness Trade App, Exness Terminal, MetaTrader 5, MT4, MetaTrader WebTerminal
💳 Minimum DepositUSD 10 / 185 NAD
🔎 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 SpreadVariable, from 0.0 pips
💰 CommissionsFrom $0.1 per side, per lot
📈 Maximum LeverageUnlimited
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA
🎉 Open AccountOpen Account

 

Exness - Best Swap Free Brokers

 

Pros and Cons

✔️ Pros❌ Cons
Exness is a reputable international broker authorized by several reputable market regulatorsThere is a limited selection of tradable instruments in only a few financial markets
The broker offers some of the tightest spreads across all types of accountsThere is a limited selection of funding options offered
There are several account types to choose from, each accommodating different types of traders
There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more.
Exness is ideal for any Namibian beginner traders and institutional investors
There are solutions offered for any type of professional trader who needs advanced options
There is a powerful proprietary mobile app offered
Client fund safety and investor protection is guaranteed
Multilingual 24/7 customer support is offered
Instant withdrawal methods are available

 

2. AvaTrade

Avatrade review

 

Several financial authorities, notably the Irish Central Bank, oversee AvaTrade. As a subsidiary of the AVA Group, it has rapidly risen to become one of the most reputable FX trading platforms in the world.

 

AvaTrade, one of the top 20 CFD and forex brokers in Namibia, caters to traders with varying preferences and needs.

 

This company caters to Namibian traders by providing them with attractive trading platforms, a lucrative range of tradable assets, bonuses, and other perks.

 

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

 

It has been around since 2006, so Namibians know they can trust their connection to global markets.

 

With AvaTrade, client funds are held in separate accounts at some of the world’s top financial institutions by this reputed international broker, which benefits from tight regulation. All of AvaTrade’s customers can expect open and honest service thanks to the company’s commitment to transparency.

 

AvaTrade Features

Account FeatureValue
💻 Trading PlatformsAvaTrade WebTrader, AvaTradeGO, AvaOptions, AvaSocial, MT4, MetaTrader 5, DupliTrade, ZuluTrade
💳 Minimum Deposit100 USD / 1,883 NAD
🔎 Trading AccountsStandard Live Account, Professional Account Option
📊 SpreadFixed, from 0.9 pips
💰 CommissionsNone
📈 Maximum Leverage1:30 (Retail)
1:400 (Pro)
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
🎉 Open AccountOpen Account

 

Avatrade - Best Swap Free Brokers

 

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. HF Markets

HF Markets review

 

HF Markets is a dynamic MetaTrader broker with good investment options for both inexperienced and seasoned traders. Because of how strictly it is governed and how successfully it has earned its name, it is seen as a reliable broker by Namibian traders.

 

HF Markets accommodates a diverse clientele because of the flexibility of its trading features and circumstances.

 

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

 

The firm processes more than 2.5 million active accounts and has won more than 55 industry accolades.

 

HF Markets Overview

💵 Minimum Deposit0 USD / 0 NAD
✔️ Deposit CurrenciesUSD, AED, EUR, GBP, CHF, JPY, NZD, CAD, ZAR, and more.
🔎 Trading PlatformsMetaTrader 4, MetaTrader 5, HF App
📊 Starting spread0.0 pips
💰 Minimum Commission per TradeFrom $6 per round turn on Forex
📈 Demo AccountYes
⚖️ Non-expiring DemoYes
⏰ Demo DurationUnlimited
🎉 Open AccountOpen Account

 

HF Markets - Best Swap Free Brokers

 

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

 

4. Tickmill

Tickmill review

 

Tickmill is a popular MetaTrader broker that is not supervised by the BoN but has a solid reputation among traders.

 

When it comes to commission fees, the VIP and Pro accounts provide some of the most attractive rates in the industry. On the other hand, Tickmill offers a wide variety of tools for trading and educational purposes.

 

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

 

Tickmill’s high reliability (81%) and user-friendly interface (platforms) make it a safe bet. Due to its large leverage and fast execution rates, it gives Namibian traders a lot of freedom in how they approach their investments.

 

Tickmill Overview

💵 Minimum Deposit100 USD / 1,900 NAD
✔️ Deposit CurrenciesUSD, EUR, GBP, ZAR, IDR, CNY
🔎 Trading PlatformsMetaTrader 4, MetaTrader 5, Tickmill Mobile App
📊 Starting spreadFrom 0.0 pips
💰 Minimum Commission per Trade$1 per side, per standard lot traded
📈 Demo AccountYes
⚖️ Non-expiring DemoYes
⏰ Demo DurationUnlimited
🎉 Open AccountOpen Account

 

Tickmill

 

 

Pros and Cons

✔️ Pros❌ Cons
The broker offers commission-free trading across financial instrumentsThe broker does not accept clients from the United States and some other regions
There are powerful trading platforms to choose fromFixed spread accounts are not offered
The broker is well-regulated in several regions
There is a selection of popular financial instruments that can be traded
There are several advanced trading tools offered

 

5. FBS

FBS review

 

FBS provides superior trading account options, low costs, and high levels of client security thanks to its in-house developed trading app.

 

The company has been around since 2009, but its stellar reputation has been earned via more than a decade of international brokerage expertise and the development of ground-breaking trading tools. Proof of its credibility is the daily addition of 10,000 new customers.

 

Despite the absence of BoN regulation in Namibia, FBS is reliable and effective thanks to the oversight it receives from a wide range of industry bodies in more than 150 nations.

 

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

 

FBS welcomes a wide range of Namibian trading strategies and provides a wealth of teaching resources like live seminars, videos, and written guides.

 

As an Islamic trading platform that offers a wide variety of assets in Namibia, FBS is a fantastic choice for traders of the Islamic faith.

 

FBS Overview

FeatureInformation
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA, FCA
⚖️ BoN RegulationNo
✔️ Accepts Namibian Traders?Yes
💳 Minimum deposit (NAD)5 USD / 93 NAD
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:3000
👥 Customer Support 24/7
🎉 Trading PlatformFBS Trader, MetaTrader 4, MetaTrader 5, CopyTrade
🎉 Open AccountOpen Account

 

FBS

 

Pros and Cons

✔️ Pros❌ Cons
FBS offers competitive trading conditions with some of the lowest spreadsThere are wide spreads charges on some accounts
There are several account types to choose fromThere is a limited number of tradable instruments
There are many social trading opportunitiesThere are several regional restrictions applied
There is an ultra-low minimum deposit requirement
The broker is well-regulated and trusted

 

6. XM

XM review

 

XM is a low-cost broker that offers a variety of helpful services and flexible funding options to traders in Namibia. It is a broker that is friendly to both novice and experienced traders due to its adaptable set of features.

 

XM, which launched in 2009, already serves nearly 200 nations and is available in 30 different languages.

 

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

 

One of the top 50 listed brokers in Namibia, XM has its primary office in Belize and is a well-regulated organization. XM has a good trust score (84%) and a high overall performance rating (9/10).

 

XM is an award-winning broker that provides a wide range of trading options, bonus programs, and VIP treatment for its Namibian traders. Due to its swap-free nature, it is a practical and convenient option for Islamic traders in Namibia.

 

XM Overview

💵 Minimum Deposit5 USD / 95 NAD
✔️ Deposit CurrenciesUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
🔎 Trading PlatformsMT4, MT5, XM Mobile App
📊 Starting spreadFrom 0.7 pips
💰 Minimum Commission per TradeFrom $1 per share
📈 Demo AccountYes
⚖️ Non-expiring DemoYes, if it remains in use
⏰ Demo DurationUnlimited, but inactive accounts expire after 90 days
🎉 Open AccountOpen Account

 

XM

 

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

 

7. CM Trading

CM Trading review

 

Because of its location in Africa, CM Trading is familiar with the idiosyncrasies of trading in the region. CM Trading has a sizable slice of the Namibian market and a wealth of opportunities for all kinds of trades.

 

CM Trading has become the largest broker in South Africa thanks to its innovative approach to trading solutions. The BoN in Namibia does not supervise this company, yet the services it provides to Namibian traders are first-rate nevertheless.

 

Overall Rating

Min Deposit

USD100/1,500 NAD

Regulators

FSA

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

154

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

CM Trading is one of the largest and most trustworthy companies in the world, and it focuses mostly on African markets because of its high liquidity and dynamic trading procedures.

 

Anyone, from novices to seasoned pros, can take advantage of the platform’s trustworthiness and industry knowledge. Energy, metals, and agricultural items make up a diverse and useful portfolio of trading assets for swap-free Namibian traders.

 

CM Trading Overview

Account FeatureValue
💻 Trading PlatformsMetaTrader 4, MTrading Webtrader, CopyKat, Expert Advisors, trading apps.
💳 Minimum DepositUSD 100 / 1,853 NAD
🔎 Trading AccountsBronze Account, Silver Account, Gold Account, Premium Account.
📊 SpreadFrom 0.9 pips
💰 CommissionsNone
📈 Maximum Leverage1:200
⚖️ RegulationFSA, FSCA
🎉 Open AccountOpen Account

 

CM Trading

 

Pros and Cons

✔️ Pros❌ Cons
There is a decent range of instruments offered by CM Trading, spread over several marketsThere is no NAD-denominated account, which subjects Namibian traders to currency conversion fees
There are user-friendly and powerful trading platforms offeredThere are deposit and withdrawal fees charged
CM Trading offers commission-free trading, with the broker fee worked into the spreadThere are inactivity fees charged on dormant accounts
There is a daily market analysis offered to help inspire trade ideas for Namibian tradersNAD deposits and withdrawals are not offered
There is a decent selection of educational material offered to beginner Namibian traders
CM Trading supports copy trading
There is an Islamic account offered to Muslim traders
CM Trading has an excellent customer support and is a well-regulated, high trust broker

 

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 that 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 utilization 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 centers. Axiory’s cTrader, MetaTrader, and the FIX API can be used to trade forex and CFDs.

 

Best Forex Brokers sign up bonus Broker in Namibia

Overall Rating

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, there is a plethora of options for swap-free forex brokers in Namibia, and traders have access to a wide variety of resources.

 

As a result, Islamic traders in Namibia can choose from several local forex brokers who provide swap-free accounts.

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Frequently Asked Questions

Is a swap-free account Halal?

Yes, an Islamic or Swap-Free forex trader account is considered a completely halal account offered to those who cannot receive or pay swaps due to their religious beliefs.

 

Is swap-free a good thing in Forex?

Swap-free accounts are preferable for Muslim traders because they do not accrue interest. These accounts, the only ones of their kind, have grown in popularity among Muslims due to their lack of interest charges. 

 

How do you avoid swap charges?

Opening a swap-free account sometimes called an Islamic or Shariah account, which charges a fixed fee rather than a swap, is one way to avoid a swap in the foreign exchange market. Avoiding the switch in foreign exchange can also be accomplished by closing all active trades before the rollover time, which is typically 5 pm New York time.

 

Is using leverage halal?

Yes, leverage trading is permissible in Islam. Leverage simply refers to the use of debt to acquire securities or put into action a particular investment strategy. Furthermore, the leveraged investment must be Shariah-compliant to use the trading platform. In general, Islamic law does not prohibit using leverage when trading.

 

What type of trading is haram in Islam?

The majority of Islamic scholars hold that day trading, options, and futures are all forbidden by sharia.

9.3/10 - (12 votes)