Five Best Regulated Forex Brokers in Tanzania

16Oct 2020
Correspondent
The Guardian
Five Best Regulated Forex Brokers in Tanzania

There are numerous Forex brokers which have started welcoming more African traders as brokers are regulated and authorized by more regulatory entities that allow them to offer their services.

 

However, Tanzanian traders do not yet have access to any Tanzanian-based brokers and will have to rely on the trading solutions and services of foreign and off-shore brokers.

There are, however, numerous well-regulated brokers that offer Tanzanian traders with competitive trading conditions when they register a live trading account.

It is imperative for traders to ensure that they only trade through brokers with strict regulations in place to ensure the safety and security of their funds.

Best Forex Brokers for Tanzanians1. AvaTrade

AvaTrade holds multiple regulation and authorization through reputable entities such as ASIC, BVI, FSA, FSCA, and more, in offering comprehensive trading solutions to traders from around the world.

When registering for a live trading account, Tanzanian traders can expect a minimum deposit of $100 which provides them with access to competitive trading conditions consisting of fixed spreads, high leverage up to 1:400, zero commissions on trading, and more.

2. FXTM

Regulated by multiple regulatory entities, including FSCA, FXTM welcomes Tanzanian traders and offers an array of comprehensive trading solutions and services.

Tanzanian traders can expect a minimum deposit of $10 when registering a live account and access to numerous financial instruments, leverage up to 1:300, variable spreads, low commission charges, access to advanced trading platforms, and more.

3. Blackstone Futures

Blackstone Futures is a South African-based STP Forex broker which offers Tanzanian traders with competitive trading conditions.

When registering a live trading account, Tanzanian traders have access to an array of financial instruments which can be traded through advanced platforms. With a $100 minimum deposit, traders have access to adequate leverage, tight spreads, and commission-free trading.

4. XM

XM is a well-regulated ECN and STP Forex broker which offers its services to numerous traders from around the world.

When trading through XM, Tanzanian traders can expect a minimum deposit from $5 and access to competitive trading conditions such as high leverage up to 1:880, variable spreads, and low commissions starting from $0 and $3.5

5. FXCM

FXCM is a UK-based broker which offers its services to a variety of traders through its regulation and authorization with FCA, ASIC, and FSCA.

Tanzanian traders can register a live trading account from $50 in order to have access to global markets where various financial instruments can be traded with leverage up to 1:400, tight and variable spreads, and commissions from $0.

In addition, FXCM offers numerous payment methods and the use of powerful trading platforms such as MetaTrader 4, TradeStation, and more.

Final Thoughts

Although Tanzanian traders may not have access to Tanzanian-based Forex brokers at the present moment, there are, however, numerous regulated brokers that welcome traders from right around the world.

These Forex brokers are not only well-regulated, but are trusted names in the Forex industry with a history of comprehensive trading services provided to the industry.

 

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