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Skip to content * Best Trading Platforms Forex Trading Platforms Best Forex Brokers in Botswana Forex No Deposit Bonus Pula Forex Trading Accounts Best Trading Apps Forex Trading for Beginners Volatility 75 Forex Brokers Forex Brokers accepting M-PESA Most Successful Forex Traders in Botswana Best Forex Trading Strategies High Leverage Forex Brokers Islamic Swap Free Forex Brokers Low Minimum Deposit Brokers Low Spread Forex Brokers Micro Currency Trading Platforms CFD Trading Platforms Social Trading Platforms Algorithmic Trading Platforms Scam Forex Brokers in Botswana Index Trading Platforms Nasdaq 100 Brokers FTSE 250 Brokers FTSE 100 Brokers Trading Platforms MT4 Brokers MT5 Brokers cTrader Brokers Trading Robots Futures Trading Platforms Brokers Types ECN Forex Brokers STP Forex Brokers NDD Forex Brokers Brokers by License CBN Regulated (NG) FSCA Regulated (SA) FCA Regulated (UK) CySec Regulated (CYPRUS) Asic Regulated (AUS) CMA Regulated (Kenya) Brokers by Account Type Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers Day Trading Platforms Day Trading Strategies Crypto Day Trading Platforms Day Trading Apps Stocks and Shares A – Z Botswanan Stocks How To Buy Shares in Botswana 10 Best Shares to Buy in Botswana 5 Best Shares to SELL in Botswana Popular Global Stocks Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Meta Shares Buy Google Shares Buy Pfizer Stocks * Broker Reviews Top 8 Locally Based Brokers Exness Review HFM Review FXTM Review Alpari Review Superforex Review 7B Forex Review Tifia Review Tradenation Review Top 14 Global Brokers Exness Review Avatrade Review Tradenation Review JustMarkets Review Oanda Review BDSwiss Review HFM Review Pepperstone Review FBS Review Octafx Review CM Trading Review FP Markets Review Tickmill Review Go Markets Review Top 11 African Brokers Exness Review XM Review Markets.com Review Roboforex Review IC Markets Review Forex.com Review Axi Review GT.io Review Etoro Review Plus500 Review Instaforex Review Top 11 Rated Brokers Exness Review Avatrade Review TD Ameritrade Review Admiral Markets Review FXCM Review Liteforex Review Fidelity Review Capital.com Review ACY Review Ninja Trader Review Webull Review * Guides Step by Step Guides How to Trade forex ? How to trade Crypto ? Best Time to Trade ? How to succeed as a trader ? Is forex trading legal in Botswana ? Terminology What is Forex Leveraging ? What is a Pip? What is a Spread? What is Day Trading? What is Scalping? * Webinars OPEN A TRADING ACCOUNT Search Search * Best Trading Platforms Forex Trading Platforms Best Forex Brokers in Botswana Forex No Deposit Bonus Pula Forex Trading Accounts Best Trading Apps Forex Trading for Beginners Volatility 75 Forex Brokers Forex Brokers accepting M-PESA Most Successful Forex Traders in Botswana Best Forex Trading Strategies High Leverage Forex Brokers Islamic Swap Free Forex Brokers Low Minimum Deposit Brokers Low Spread Forex Brokers Micro Currency Trading Platforms CFD Trading Platforms Social Trading Platforms Algorithmic Trading Platforms Scam Forex Brokers in Botswana Index Trading Platforms Nasdaq 100 Brokers FTSE 250 Brokers FTSE 100 Brokers Trading Platforms MT4 Brokers MT5 Brokers cTrader Brokers Trading Robots Futures Trading Platforms Brokers Types ECN Forex Brokers STP Forex Brokers NDD Forex Brokers Brokers by License CBN Regulated (NG) FSCA Regulated (SA) FCA Regulated (UK) CySec Regulated (CYPRUS) Asic Regulated (AUS) CMA Regulated (Kenya) Brokers by Account Type Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers Day Trading Platforms Day Trading Strategies Crypto Day Trading Platforms Day Trading Apps Stocks and Shares A – Z Botswanan Stocks How To Buy Shares in Botswana 10 Best Shares to Buy in Botswana 5 Best Shares to SELL in Botswana Popular Global Stocks Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Meta Shares Buy Google Shares Buy Pfizer Stocks * Broker Reviews Top 8 Locally Based Brokers Exness Review HFM Review FXTM Review Alpari Review Superforex Review 7B Forex Review Tifia Review Tradenation Review Top 14 Global Brokers Exness Review Avatrade Review Tradenation Review JustMarkets Review Oanda Review BDSwiss Review HFM Review Pepperstone Review FBS Review Octafx Review CM Trading Review FP Markets Review Tickmill Review Go Markets Review Top 11 African Brokers Exness Review XM Review Markets.com Review Roboforex Review IC Markets Review Forex.com Review Axi Review GT.io Review Etoro Review Plus500 Review Instaforex Review Top 11 Rated Brokers Exness Review Avatrade Review TD Ameritrade Review Admiral Markets Review FXCM Review Liteforex Review Fidelity Review Capital.com Review ACY Review Ninja Trader Review Webull Review * Guides Step by Step Guides How to Trade forex ? How to trade Crypto ? Best Time to Trade ? How to succeed as a trader ? Is forex trading legal in Botswana ? Terminology What is Forex Leveraging ? What is a Pip? What is a Spread? What is Day Trading? What is Scalping? * Webinars OPEN A TRADING ACCOUNT Search Search MENU * Best Trading Platforms Forex Trading Platforms Best Forex Brokers in Botswana Forex No Deposit Bonus Pula Forex Trading Accounts Best Trading Apps Forex Trading for Beginners Volatility 75 Forex Brokers Forex Brokers accepting M-PESA Most Successful Forex Traders in Botswana Best Forex Trading Strategies High Leverage Forex Brokers Islamic Swap Free Forex Brokers Low Minimum Deposit Brokers Low Spread Forex Brokers Micro Currency Trading Platforms CFD Trading Platforms Social Trading Platforms Algorithmic Trading Platforms Scam Forex Brokers in Botswana Index Trading Platforms Nasdaq 100 Brokers FTSE 250 Brokers FTSE 100 Brokers Trading Platforms MT4 Brokers MT5 Brokers cTrader Brokers Trading Robots Futures Trading Platforms Brokers Types ECN Forex Brokers STP Forex Brokers NDD Forex Brokers Brokers by License CBN Regulated (NG) FSCA Regulated (SA) FCA Regulated (UK) CySec Regulated (CYPRUS) Asic Regulated (AUS) CMA Regulated (Kenya) Brokers by Account Type Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers Day Trading Platforms Day Trading Strategies Crypto Day Trading Platforms Day Trading Apps Stocks A – Z Botswanan Stocks How To Buy Shares in Botswana 10 Best Shares to Buy in Botswana 5 Best Shares to SELL in Botswana Popular Global Stocks Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Meta Shares Buy Google Shares Buy Pfizer Stocks Popular Botswanan Stocks * Broker Reviews Top 8 Locally Based Brokers Exness Review Hotforex Review FXTM Review Alpari Review Superforex Review 7B Forex Review Tifia Review Tradenation Review Top 14 Global Brokers Exness Review Avatrade Review Tradenation Review JustMarkets Review Oanda Review BD Swiss Review Hotforex Review Pepperstone Review FBS Review Octafx Review CM Trading Review FP Markets Review Tickmill Review Go Markets Review Top 11 African Brokers Exness Review XM Review Markets.com Review Roboforex Review IC Markets Review Forex.com Review Axi Review GT.io Review Etoro Review Plus500 Review Instaforex Review Top 12 Rated Brokers Exness Review IG Review TD Ameritrade Review Admiral Markets Review FXCM Review Liteforex Review Fidelity Review Capital.com Review ACY Review NinjaTrader Review Webull Review Liteforex Review * Guides Step by Step Guides How to Trade forex How to trade Crypto Best Time to Trade How to succeed as a trader Is forex trading legal in Botswana? Terminology What is Forex Leveraging What is a Pip? What is a Spread? What is Day Trading? What is Scalping? * Upcoming Webinars X Search Search MENU * Best Trading Platforms Forex Trading Platforms Best Forex Brokers in Botswana Forex No Deposit Bonus Pula Forex Trading Accounts Best Trading Apps Forex Trading for Beginners Volatility 75 Forex Brokers Forex Brokers accepting M-PESA Most Successful Forex Traders in Botswana Best Forex Trading Strategies High Leverage Forex Brokers Islamic Swap Free Forex Brokers Low Minimum Deposit Brokers Low Spread Forex Brokers Micro Currency Trading Platforms CFD Trading Platforms Social Trading Platforms Algorithmic Trading Platforms Scam Forex Brokers in Botswana Index Trading Platforms Nasdaq 100 Brokers FTSE 250 Brokers FTSE 100 Brokers Trading Platforms MT4 Brokers MT5 Brokers cTrader Brokers Trading Robots Futures Trading Platforms Brokers Types ECN Forex Brokers STP Forex Brokers NDD Forex Brokers Brokers by License CBN Regulated (NG) FSCA Regulated (SA) FCA Regulated (UK) CySec Regulated (CYPRUS) Asic Regulated (AUS) CMA Regulated (Kenya) Brokers by Account Type Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers Day Trading Platforms Day Trading Strategies Crypto Day Trading Platforms Day Trading Apps Stocks A – Z Botswanan Stocks How To Buy Shares in Botswana 10 Best Shares to Buy in Botswana 5 Best Shares to SELL in Botswana Popular Global Stocks Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Meta Shares Buy Google Shares Buy Pfizer Stocks Popular Botswanan Stocks * Broker Reviews Top 8 Locally Based Brokers Exness Review Hotforex Review FXTM Review Alpari Review Superforex Review 7B Forex Review Tifia Review Tradenation Review Top 14 Global Brokers Exness Review Avatrade Review Tradenation Review JustMarkets Review Oanda Review BD Swiss Review Hotforex Review Pepperstone Review FBS Review Octafx Review CM Trading Review FP Markets Review Tickmill Review Go Markets Review Top 11 African Brokers Exness Review XM Review Markets.com Review Roboforex Review IC Markets Review Forex.com Review Axi Review GT.io Review Etoro Review Plus500 Review Instaforex Review Top 12 Rated Brokers Exness Review IG Review TD Ameritrade Review Admiral Markets Review FXCM Review Liteforex Review Fidelity Review Capital.com Review ACY Review NinjaTrader Review Webull Review Liteforex Review * Guides Step by Step Guides How to Trade forex How to trade Crypto Best Time to Trade How to succeed as a trader Is forex trading legal in Botswana? Terminology What is Forex Leveraging What is a Pip? What is a Spread? What is Day Trading? What is Scalping? * Upcoming Webinars X Search Search Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here * Fully Regulated * Expertly Reviewed * Secure & Trusted * Transparent Fees * Mobile Friendly FIND THE BEST BOTSWANA FOREX BROKER FOR YOUR TRADING LEVEL. Best Forex Brokers Best Forex Trading Apps Copy Trading Forex Brokers Forex No-deposit Bonusses NASDAQ forex Brokers ECN Forex Brokers Volitality 75 Forex Brokers High Leverage Forex Brokers FOREX TRADING BROKERS IN BOTSWANA We explore everything from A -Z how to become a skillful trader and who are the best forex brokers in Botswana for your style of trading. For Botswanan Investors, forex trading can be a way to diversify. Best Forex Brokers in Botswana Forex Trading Basics Forex Terminology Currency Pairs How to Start Trading in Botswana Forex Trading Strategies Forex Trading Platforms Forex Charting Forex Trading Risk Management Pros and Cons of Forex Trading FOREX BROKERS IN BOTSWANA Forex Broker Open An Account Accepts Botswanans Regulation Max Leverage Min Deposit Exness Open Account YesFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCAUnlimited$10 / 135 BWP AvaTrade Open Account YesCBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC• 1:30 (Retail) • 1:400 (Pro)$100 / 1903 BWP HFM Open Account YesFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA1:2000 $0 / 0 BWP Axi Open Account YesASIC, SVG, FCA, FMA, DFSA1:500$0 / 0 BWP InstaForex Open Account YesBVI FSC, CySEC, FSA SVG1:100$1 / 19 BWP IG Open Account YesFCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA.• 1:30 (Retail, UK) • 1:50 (Pro)$250 / 4758 BWP XM Open Account YesFSCA, IFSC, ASIC, CySEC, DFSA1:1000$5 / 95 BWP FXTM Open Account YesCySEC, FSCA, FCA, FSC Mauritius1:2000$10 / 190 BWP Axiory Open Account YesIFSC Belize, FSC Mauritius, FCA1:777$10 / 190 BWP Admirals Open Account YesFCA, ASIC, CySEC, EFSA, JSC, FSCA• 1:30 (Retail) • 1:500 (Pro)$25 / 475 BWP 10 Best Forex Brokers in Botswana Rank Broker Review Regulators Min Deposit Official Site Read Review CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA $10 Visit Broker Read Review ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA $100 Visit Broker Read Review SVGFSA $5 Visit Broker #4 Read Review FSCA, IFSC, ASIC, CySEC, DFSA, FCA $5 Visit Broker #5 Read Review FSA, CySEC, FSCA, FSC $1 Visit Broker #6 Read Review CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine $0 Visit Broker #7 Read Review FSCA, FSC, FSA, MISA $10 Visit Broker #8 Read Review ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB $10 Visit Broker #9 Read Review ASIC, CySEC, FSCA, FSA $100 Visit Broker #10 Read Review FSA, FSCA $5 Visit Broker #1 $10 Minimum Deposit Sign Up #2 $100 Minimum Deposit Sign Up #3 $5 Minimum Deposit Sign Up #4 $5 Minimum Deposit Sign Up #5 $1 Minimum Deposit Sign Up #6 $0 Minimum Deposit Sign Up #7 $10 Minimum Deposit Sign Up #8 $10 Minimum Deposit Sign Up #9 $100 Minimum Deposit Sign Up #10 $5 Minimum Deposit Sign Up You’ll learn all you need to know about being a great trader and which forex brokers in Botswana are best suited for your style of trading in this comprehensive guide. Botswanan traders can easily take advantage of the competitive, exciting environment offered by forex trading as it is accessible to all over the age of 18. Foreign exchange trading is legal in Botswana and must be carried out by licensed and regulated forex brokers. Botswana is ranked one of the least corrupt countries in Africa, which is extremely advantageous for foreign investment. While forex trading can be difficult in some African countries, Botswana has enough governmental support for foreign exchange activities. Botswanans can use the services of international forex brokers to connect them to the forex market, given that the broker is well-regulated. Carry trading, short trading, and binary options are three of the most popular ways through which Botswanans interact with the forex market. How profitable is forex trading for individuals and retail traders? How much do you need to start trading forex in Botswana? Can you keep your full-time job while you trade forex part-time? What are the significant risks involved with trading forex in Botswana? These are just a few questions that many Botswanan traders may have as beginner forex traders. Explore our website to find the answers to these questions and more. Foreign Exchange Trading is a legal activity in Botswana that is governed by the Ministry of Finance and Economic Development (MFED), the Bank of Botswana (BoB), and the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). While these market regulators do not officially regulate forex brokers who carry out financial activities, regulators such as the FSCA, FCA, CySEC, and others, provide Botswanans with protection. We reveal the best brokers with verified regulations who offer their services locally in Botswana. Botswanans can rest assured that these are trusted and legitimate brokers that garner a high trust score and/or rating. EXNESS Overall Rating * 4.9/5 Min Deposit $10 / 134 BWP Regulators CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Trading Desk MetaTrader 4 and MetaTrader 5 Total Pairs 107 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Exness’s website OVERVIEW Exness is a multi-regulated forex and CFD broker that was founded in 2008, which shows its long-standing history as being one of the top brokers. Exness is headquartered in Cyprus with offices based in South Africa, the United Kingdom, Seychelles, the British Virgin Islands, and Curaçao. While the worldwide brand offers a wide variety of opportunities for retail and corporate consumers, the firm’s subsidiaries also provide customized financial services and investment solutions for clients across the world. WHY WE CHOOSE EXNESS ️ Exness offers a choice between five types of accounts with tight spreads and low commission charges ️ Exness offers unlimited leverage ratios ️ There is an ultra-low minimum deposit requirement when registering an account ️ There are several flexible funding options offered ️ Exness accepts deposits in Botswana Pula FEATURES FeatureInformation RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA CBN Regulation?No Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app Minimum Deposit $10 / 134 BWP Trading AssetsForex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks Botswanan Pula-based Account?No BWP Deposits Allowed?Yes Bonuses for Botswanan traders?Yes Minimum spread0.0 pips EUR/USD Demo AccountYes Islamic AccountYes Social Trading OfferedNo 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 Botswanan 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 -------------------------------------------------------------------------------- AVATRADE Overall Rating * 4.9/5 Min Deposit $100 / 1 342 BWP Regulators ASIC, FSA Trading Desk MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central Crypto Yes Total Pairs 55+ Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Avatrade’s website OVERVIEW AvaTrade is a multi-award-winning trading broker that is regulated in six countries and offers more than 1250+ trading products across numerous marketplaces. Some of the greatest trading conditions in the world are provided to retail traders throughout the globe, including cheap fees, a competitive spread, rapid execution speeds, different account types, diverse financing methods, exceptional customer service, and much more. WHY WE CHOOSE AVATRADE ️ AvaTrade is widely known as one of the best forex brokers for trading a range of instruments across several financial markets ️ AvaTrade offers high liquidity which is attributable to large trading volumes that exceed 2 million a month ️ AvaTrade is a globally recognized forex broker that offers some of the best trading conditions ️ There are several trading platforms offered including mobile trading apps, desktop platforms, and web-based platforms from MetaTrader to proprietary platforms ️ AvaTrade accommodates traders of all trading experiences despite their trading styles or trading strategy FEATURES FeatureInformation RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA CBN Regulation?No Trading AccountsRetail Investor Account, Professional Account Option Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade Minimum Deposit (BWP)$100 / 1343 BWP Trading AssetsForeign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals Botswanan Pula-based Account?No BWP Deposits Allowed?No Bonuses for Botswanan traders?Yes Minimum spread0.9 pips EUR/USD Demo AccountYes Islamic AccountYes Social Trading OfferedYes 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. -------------------------------------------------------------------------------- HFM Overall Rating * 4.9/5 Min Deposit USD 0 Regulators CySEC, FCA, DFSA, FSCA, FSA, CMA Trading Desk MT4, MT5, HFM APP Crypto Yes Total Pairs 50+ Islamic Account Yes Trading Fees 0 Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on HFM’s website OVERVIEW HFM has been around for more than 12 years and as award-winning forex and CFD trading broker, HFM has been recognized as one of the trading providers with some of the best benefits for Botswana traders. WHY WE CHOOSE HFM ️ HFM is a globally recognized trading brand with more than 2.5 million active traders ️ HFM caters for novice traders and experienced traders alike ️ HFM offers an array of bonuses and promotions for new traders and existing loyal customers ️ There are several deposit and withdrawal options available, with the benefit that deposit fees and withdrawal fees are not charged despite the deposit/withdrawal method. FEATURES FeatureInformation RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions CBN Regulation?No Trading AccountsMT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account Trading PlatformMetaTrader 4, MetaTrader 5 Minimum Deposit 0 Botswanan Pula equivalent to $0 Trading AssetsForex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs Botswanan Pula-based Account?No BWP Deposits Allowed?No Bonuses for Botswanan traders?Yes Minimum spread0.0 pips EUR/USD Demo AccountYes Islamic AccountYes Social Trading OfferedYes 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 -------------------------------------------------------------------------------- AXI Overall Rating * 4.8/5 Min Deposit USD 0 / 0 BWP Regulators FSA, FCA, ASIC, DFSA Trading Desk MetaTrader 4 Crypto Yes Total Pairs 66 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT On Axi’s Website OVERVIEW Axi is a member of the AxiCorp Group, which was established in 2007 in Sydney, Australia, and has since evolved to become one of the world’s biggest online brokers, specializing in retail traders’ goods and services with customers in more than 150 countries, including Botswana. While Axi is well regulated by the ASIC and FCA. In addition, traders can still access international customer support through the online website and other communication channels. In 2020, Axi was rebranded to Axi, and the broker was initially established by a group of traders, they understand what traders need and hence provide tight spreads with low slippage, rapid execution speeds, multi-lingual worldwide 24-hour customer care, and a secure and highly-regulated environment. FEATURES FeatureValue Account setup costsNone Average spreadsFrom 0.4 pips Commissions on tradesNone Minimum Position Size0.01 lots Minimum deposit requirement$0 / 0 BWP Range of marketsAll Mobile trading offered?Yes MT4 NextGen offered?Yes Leverage offered?Yes, 1:500 Account Base CurrencyAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD Demo trading availability30 Days VPSYes, free Expert Advisors offered?Yes AutoChartistYes Myfxbook AutoTrade offered?Yes PsyQuation offered?Yes PsyQuation Premium offered?Yes PROS AND CONS Pros Cons Axi is a multi-regulated and award-winning CFD and forex brokerThere are inactivity fees charged The platforms are user-friendly and available across devicesThere is limited leverage offered to retail clients Botswana can deposit funds in Botswana Pula using local deposit methodsDeposit and withdrawal fees can be applied There are no account fees chargedThere is only one trading platform offered AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offeredThe demo account expires after 30 days There is a comprehensive trading academy provided There is an active and helpful Axi community provided Signal providers and free VPS is offered -------------------------------------------------------------------------------- INSTAFOREX Overall Rating * 4.8/5 Min Deposit USD 1 Regulators CySEC, FSC Trading Desk MetaTrader 4 MetaTrader 5 MultiTerminal WebTrader Crypto Yes Total Pairs 100 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on InstaForex’s website OVERVIEW InstaForex, a multi-award-winning, licensed broker, was established in 2007 and has grown to be one of the biggest in the industry. Additionally, they provide a wide variety of account kinds and features, as well as popular forex trading platforms, technical analysis tools, and resources for traders of all skill levels. Copy-trading solutions, easy deposit/withdrawal methods, and committed support staff are all available to Botswana clients. WHY WE CHOOSE INSTAFOREX ️ InstaForex offers a No-Deposit Bonus of $1,000 which is higher than that of competitors ️ The broker is well-established and offers a choice of trading accounts ️ InstaForex offers social trading opportunities and tight spreads ️ InstaForex offers some of the best educational material ️ Customer support is offered 24/7 ️ InstaForex offers comprehensive managed account options ️ InstaForex is one of the best brokers for scalpers, day traders, active traders, high-frequency traders, and algorithmic traders. FEATURES FeatureInformation RegulationFSC, SIBA, BVI CBN Regulation?No Trading AccountsInsta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica Trading PlatformMetaTrader 4, MetaTrader 5, InstaForex Platform Minimum Deposit 19 Botswanan Pula equivalent to $1 Trading AssetsCurrency Pairs, Share CFDs, Precious Metals, Futures CFDs, Cryptocurrencies, InstaFutures, Commodity Futures, Energies Botswanan Pula-based Account?No BWP Deposits Allowed?Yes Bonuses for Botswanan traders?Yes Minimum spread0.0 Pips EUR/USD Demo AccountYes Islamic AccountYes Social Trading OfferedYes PROS AND CONS Pros Cons The broker offers commission-free tradingThere are restrictions on leverage for European Union clients MetaTrader 4 and 5 are both offered, available across devicesUS clients are not accepted The broker is well-regulated and offers competitive trading conditions There is a choice between retail investor accounts, each suited to different types of traders There is a wide range of tradable assets offered -------------------------------------------------------------------------------- IG Overall Rating * 4.8/5 Min Deposit USD 0 / 0 BWP Regulators IGRs Trading Desk MetaTrader 4 Crypto Yes Total Pairs 80 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on IG Group’s website OVERVIEW IG is the oldest forex and CFD broker with the longest history in providing excellent trading solutions and conditions to traders around the world. IG has an impressive trust score of 99% and offers Botswanan traders over 17,000 tradable markets. As the world’s first spread betting organization, IG (IG) was established in 1974 by Stuart Wheeler as part of IG Holdings Plc, a publicly listed company (LSE: IGG). IG is a reputable entity that enables knowledgeable, decisive, adventurous individuals to tap opportunities in the financial markets. IG has a global presence and while the broker does not have offices in Botswana or regulation through the Central Bank of Botswana (CBU), IG is one of the best brokers that welcomes Botswana traders. WHY WE CHOOSE IG IG offers a wide variety of robust trading platforms, including MetaTrader, proprietary software, and direct market access through FIX API, to trade a wide variety of assets. For traders of all skill levels, IG has a wide range of trading tools and instructional materials available. Account types can be customized to meet every trader’s specific needs, and there are a variety of handy ways to fund and withdraw funds. FEATURES FeatureValue RegulationFCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA Trading Platform• MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API Withdrawal FeeNo Demo AccountYes Min DepositUSD 250 / 3 363 BWP Leverage1:100 SpreadFrom 0.1 pips DMA CommissionsFrom AU$7 Margin Call/Stop-Out100%/50% Order ExecutionMarket Botswanan Naira AccountNo Retail Investor Accounts8+ PROS AND CONS Pros Cons IG offers competitive spreads that ensure that traders receive the best pricing in a competitive marketIG requires a high minimum deposit There are several educational resources offered by IGThere are currency conversion fees and inactivity fees charged IG offers flexible forex and CFD trading over several trading platformsThere is a limited range of funding and withdrawal options offered by IG IG offers one of the largest portfolios of tradable instrumentsThere is a restriction on the leverage level that traders can expect from IG IG’s customer support is available around the clock There are several account types to choose from according to the trader’s country of residence and market regulator There are several reliable funding options offered by IG IG offers an Islamic account and a demo account -------------------------------------------------------------------------------- XM Overall Rating * 4.5/5 Min Deposit USD 5 Regulators IFSC, CySec, ASIC Trading Desk Meta Trader 4 Total Pairs 55 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on XM’s website OVERVIEW XM is a well-established market maker forex broker that has been in operation since 2009. XM is a well-known name in the trading industry known for its no-requotes and no rejections policy. XM offers access to robust trading technology and comprehensive trading solutions tailored to different types of traders from around the world. WHY DID WE CHOOSE XM ️ XM offers competitively low spreads, no rejections, and no requotes and 99.35% of all orders are filled in less than a second ️ XM is well-regulated and offers client fund security and investor protection ️ Botswana traders can register an account with a low initial deposit ️ Botswana traders may deposit funds into their account in Botswana Pula, exempting them from currency conversion fees. FEATURES FeatureInformation RegulationFSCA, IFSC CBN RegulationNo Accepts Botswanan Traders?Yes Minimum deposit (BWP)$5 / 67 BWP Average spread from0.0 pips EUR/USD Maximum Leverage1:1000 Customer Support 24/5 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 -------------------------------------------------------------------------------- FXTM Overall Rating * 4.6/5 Min Deposit USD 10 Regulators CySec, FSCA Trading Desk MetaTrader 4 and MetaTrader 5 Crypto Yes Total Pairs 60 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on FXTM’s website OVERVIEW With over 250+ trading products and stringent regulations in several countries, FXTM is an award-winning and reliable broker for beginners that has won many accolades. Beginner and expert traders may make use of a wide range of low-cost trading options, as well as intuitive desktop, mobile, and web-based forex trading platforms. WHY WE CHOOSE FXTM ️ FXTM offers an ECN and STP execution model ️ FXTM is one of the best brokers that accommodates Botswana traders ️ FXTM offers Botswana-based customer service and support ️ There are over 1.3 million Botswana traders that use FXTM’s services FEATURES FeatureInformation RegulationCySEC, FSCA, FCA, FSC Mauritius CBN Regulation?No Trading AccountsMicro Account, Advantage Account, Advantage Plus Account Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader Minimum Deposit 134 Botswanan Pula equivalent to $10 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets Botswanan Pula-based Account?Yes BWP Deposits Allowed?Yes Bonuses for Botswanan traders?Yes Minimum spread0.0 pips EUR/USD Demo AccountYes Islamic AccountYes Social Trading OfferedYes PROS AND CONS Pros Cons FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthinessInactivity fees apply when the retail investor account becomes dormant Dedicated customer support offered for Botswanan traders Several deposit options and withdrawal methods offered There is a low minimum deposit requirement Commission-free trading is offered Deposit fees are not charged on any payment methods Withdrawal processing times are quick There are several educational tools offered There is an exclusive risk management tool offered -------------------------------------------------------------------------------- AXIORY Overall Rating * 4.8/5 Min Deposit 10 USD / 133 BWP 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 Time 24 Hours Read Review OPEN AN ACCOUNT on Axiory’s website OVERVIEW Axiory, formed in 2011, gives worldwide traders a knowledgeable, courteous, and straightforward environment to enter the FX and CFDs market. The basic concept of Axiory discovered is built on transparent providing to the customers and trading community, while traders will obtain matchless and well-developed technology for its higher performance. While Axiory is a reputable and well-regulated CFD and forex broker. Axiory has worldwide exposure because it has been in operation for a very long time, forming part of the world of trading in addition to maintaining a representative office in Dubai, which offers access to both EEA customers and the Middle East as well. WHY WE CHOOSE AXIORY Axiory is a multi-regulated broker that provides its clients access to some of the most liquid and complex instruments across several asset classes. In addition, Botswana also have the option of investing through Axiory, giving them access to hundreds of exchange stocks and Exchange-Traded Funds (ETFs). Axiory offers high maximum leverage ratios, tight and competitive spreads, positive slippage, and low commission charges, with the option of commission-free trading. In addition, Botswana traders can rest assured that they are dealing with a legitimate broker that ensures client funds security, helps with risk management and is audited by reputable third parties frequently. To keep up with the times, the broker has adopted new technologies. Fast, secure, and well-protected, its servers are the best in the business. For sophisticated chart analysis, order processing, and automated trading, Axiory’s platforms are both strong and user-friendly. FEATURES FeatureValue Minimum Deposit Requirement$10 / 134 BWP Platforms Available for Account TypeMetaTrader 4 Average Spreads on Major Forex PairsNone Maximum Leverage Ratio1:777 Commission Charges on TradesFrom $1.5 per lot Commissions on Stock CFDsNone Account Base Currency OptionsEUR or USD Negative Balance Protection OfferedNo Minimum Forex Trading Volume1 Lot Islamic Account Conversion Offered?Yes PROS AND CONS Pros Cons Axiory is well-regulated and a member of the Financial CommissionBotswana traders do not have access to local deposit and withdrawal options Axiory guarantees client fund safety and provides investor protectionBotswana Pula is not a supported base account currency Traders have a choice between retail investor accounts and powerful trading platformsBotswana cannot deposit funds in local currency There is a range of tradable instruments offeredCrypto trading is not supported There is an Islamic account offered and an unlimited demo accountThere are holding commissions applied to the Islamic Account There is unlimited access to AutoChartist Traders can use a range of trading strategies The broker accepts Botswana traders -------------------------------------------------------------------------------- ADMIRALS Overall Rating * 4.1/5 Min Deposit 339 BWP or an equivalent of $25 Regulators FCA, ASIC, CySEC, EFSA, JSC Trading Desk MT4, MT5, Admirals Mobile App Crypto Yes Total Pairs 35 Forex Currency Pairs Islamic Account Yes Trading Fees Low Account Activation 24 Hours Read Review OPEN AN ACCOUNT on Admiral Markets’ website OVERVIEW Admirals Markets brand has been in business since 2001 and is a leader in investment financial services, with offices in the UK, Cyprus, Estonia, and Australia. The Admirals headquarters are in the UK, but the broker has offices all over the globe. Admirals are well regulated by reputable regulatory entities such as FCA, ASIC, CySEC, EFSA, and JSC. The overall goal of Admirals is to provide the trading community with access to functioning software and high-quality products via transparent pricing and execution. WHY WE CHOOSE ADMIRALS Admiral Markets is an award-winning and licensed broker that provides a broad range of trading instruments on innovative trading platforms with customizable accounts, competitive spreads, rapid execution, and a variety of account funding alternatives. Admiral is a highly regulated corporation and a well-known supplier of internet trading services. Admirals enable traders to trade with deep liquidity conditions from top-tier providers with its lightning-fast order executions, cheap initial deposit, and competitive pricing approach. Technical solutions and improvements are carried out with utmost care while using the industry-proven MetaTrader 4 and 5 platforms along with the Admirals trading app. FEATURES FeatureValue Minimum Deposit Requirement475 BWP equivalent to $25 Platforms Available for Account TypeMetaTrader 4, cTrader Average Spreads on Major Forex Pairs0.3 pips Maximum Leverage Ratio• 1:30 (Retail) • 1:500 (Pro) Commission Charges on Trades$6 per lot Commissions on Stock CFDs$0.04 per CFD with a minimum of $6 Account Base Currency OptionsEUR or USD Negative Balance Protection OfferedYes Is Hedging Allowed?Yes Minimum Forex Trading Volume0.01 lots Islamic Account Conversion Offered?Yes PROS AND CONS Pros Cons Admirals is well-regulated in several regions globallyThere is an inactivity fee charged Admirals offers commission-free optionsBotswana traders are subject to currency conversion fees The broker accepts Botswana traders despite their trading skills or trading strategiesThere are deposit and withdrawal fees charged There are user-friendly platforms available across devicesThere are admin fees charged on the Islamic account There is a wide range of tradable markets, complex instruments, and leveraged productsThere is only one account type that can be converted to an Islamic Account Admirals offers the MetaTrader Supreme Edition Traders are given access to premium analytics There are several educational materials, resources, and tools offered FOREX TRADING PROS AND CONS PROS CONS Forex is the world’s second-largest and most liquid marketBecause the forex market is mostly unregulated and controlled by brokers, it is possible to trade against the pros. The forex market may not be completely transparent because it is broker-driven For those with a background in finance, forex trading has become a popular career choice because of its high liquidity, round-the-clock availability, and ease of entry.If you are new to forex trading, it might be tough to get a handle on the many elements that affect the currency’s value Trading foreign exchange may be a profitable, flexible, and gratifying career pathThe ability to trade forex on high leverage means that a trader’s profit or loss risk may be multiplied several times over Trading foreign exchange may be done at a reasonable cost (brokerage and commissions)Portfolio managers, trade advisors, and relationship managers may be hired to help a trader with their investments. For short-term traders, this is a huge benefit since the forex markets are open 24 hours a day, allowing them to make transactions whenever they chooseThe extremely volatile currency market may quickly result in enormous losses if one does not influence macroeconomic and geopolitical events The forex market is a global over-the-counter market since there is no central exchange or regulation The main currencies tend to fluctuate wildly in value. High volatility presents huge profit-making opportunities if trades are executed appropriately A total of 28 significant currency pairings are made up of eight major currencies. A little quantity of starting cash is all that is required to begin forex trading because of the low pip spreads If you are looking to trade forex for the short term, you have access to a wide range of technical indicators, while long-term investors have access to various theories and tools related to fundamental research STEP-BY-STEP ON HOW TO START TRADING FOREX IN BOTSWANA Step 1 – Learn about Forex Trading Step 2 – Learn the Basic Forex Trading Terminology Step 3 – Register a Demo Account with A Broker of Your Choice Step 4 – Learn about the Risks of Forex Trading Step 5 – Learn about different Trading Strategies Step 6 – Use Your Demo Account to Practise Trading Step 7 – Register a Real Account when You Are Ready Step 8 – Choose a Trading Platform Step 9 – Deposit Funds into the Account and Start Trading STEP 1 – LEARN ABOUT FOREX TRADING Forex investors should familiarize themselves with the industry’s fundamentals before deciding on a brokerage business. When it comes to investing in the financial markets, it pays dividends to put money into a solid forex education. Professional forex traders often make the error of believing they no longer need to gain extra resources. Both new and seasoned traders alike should make an investment in educational resources related to the FX market. As a result of the fact that all markets are always changing, there are a few things to keep in mind. STEP 2 – LEARN THE BASIC FOREX TRADING TERMINOLOGY The Forex market is full of terms like “pips,” “cross-pairs,” and “margin” that you are likely to stumble across in an article or forum post. All traders who participate in the global Forex market should be conversant with this basic jargon. Additionally, you should be conversant with the following terms: Currency Currency Pair Exchange Rate Bid/Ask Price Spread Pip Going long/short Leverage Margin Lot Size STEP 3 – REGISTER A DEMO ACCOUNT WITH A BROKER OF YOUR CHOICE For novice traders, a demo account is an ideal method to get a feel for the market. There is no difference between a demo and a genuine account except that you use virtual money to trade. This allows you to practice Forex trading on a demo account, utilizing all the trading capabilities available on your chosen platform. STEP 4 – LEARN ABOUT THE RISKS OF FOREX TRADING In foreign exchange trading, one currency is valued against another to generate a profit. Margin trading is the most common method of FX trading. To trade, a modest collateral deposit equal to a portion of the overall deal’s value is needed. Knowledge, investigation, and constant monitoring are required for international currency trading. An investment in foreign currency futures and options on margin is one of the riskiest types available. Using borrowed money to trade boosts the risks and you will be accountable for any losses. In addition, you may end up spending more than your original expenditure on this. Some of the typical risks that Botswanans may encounter include: The smallest changes in the market may have a significant effect. There is a great deal of leverage in most FX instruments. Even when there is no upfront payment, you are still accountable for the whole value of the deal. Exchange rates are quite erratic. Even in the span of a few minutes, they are constantly changing, either upwards or downwards. Currency fluctuations might work against you and cause you to lose money while investing. The currency markets are incredibly difficult to anticipate and exchange rates are influenced by a wide range of variables. Systematic risk management provides extremely limited protection. Stop-loss orders will only limit the amount of money that you lose. You may also pay a fee to ensure that your stop-loss order is properly executed. Trader scams and fraud are common in the forex market. Many traders still lose significant amounts of capital because scammers can replicate legitimate websites. However, there are some tell-tale signs of a scam that you must know to protect yourself. Risks involving the forex provider. As an FX customer, you may not get any of your money back if you lose your FX provider regardless of whether they go out of business, they are a scam broker, or any other reason. Delays in the trading process may have a significant impact on the outcome. The lack of liquidity in the market, execution risk, or computer system difficulties may prevent you from making transactions when you want to. STEP 5 – LEARN ABOUT DIFFERENT TRADING STRATEGIES In the forex market, you must take a disciplined approach, execute buy and sell orders according to the facts, and avoid allowing your emotions to influence your decisions. Decide which currency pairings you would want to trade and then develop a trading strategy that matches your unique trading style in those pairs of currencies. For new traders, it is an suitable idea to start with a single currency pair and not put more money on the line than you are ready to lose. If you do not think you have the mental fortitude to succeed in the stock market, you may want to consider ‘copy trading.’ STEP 6 – USE YOUR DEMO ACCOUNT TO PRACTISE TRADING Investment in trading practice will help you get invaluable experience. Virtual sample trading accounts are offered by a wide variety of brokers, making them free. Make use of the provided practice account before putting any of your own money in danger. Impatience and lack of expertise are two of the most common reasons new traders fail in forex. It is quite common for FX ‘gun slingers’ to rush into the market and lose their capital before they can earn any money. Experienced traders insist on regular practice since it helps them avoid costly mistakes and protect their profits in the event of a loss. STEP 7 – REGISTER A REAL ACCOUNT WHEN YOU ARE READY Using a demo account allows you to evaluate whether a broker’s trading conditions are what they claim to be on their website. Thus, suggested that you use a demo account with a broker before deciding whether to open a real account with them. Botswana’s forex traders are urged to only use a licensed forex broker’s services. Personal information, contact data, the location of their home and their place of work, as well as their financial and trading history, must be provided to open a live trading account in Botswana. As well as filling out an application, Botswanan traders must also go through a “Know Your Client” (KYC) procedure, which verifies their identity and proof of residency. Traders in Botswana may use the following to confirm their identity: Identity document, book, or card copy Driving license copy Passport copy The proof of address that Botswanan traders must provide includes any of the following: An updated utility bill A bank or credit card statement Any other document that indicates your residential address and your full name and surname STEP 8 – CHOOSE A TRADING PLATFORM You may begin downloading your trading platform once your broker’s customer support team has examined and accepted your application and all accompanying paperwork. Desktop, mobile or web-based browsers may all be used to access this service without the need to download or install anything, and some popular options include MetaTrader 4, MetaTrader 5, cTrader, and many others. Once your account has been validated and authorized, you may log in using the credentials you registered with or those you got from your broker. STEP 9 – DEPOSIT FUNDS INTO THE ACCOUNT AND START TRADING You must first deposit money into your trading account before you can begin trading. You may only use the payment methods accepted by your broker and shown on the broker’s website when you replenish your account. Because most brokers demand a certain amount of money to open an account, this guarantees that you can meet the margin requirements for any trades that you wish to make. Additionally, you may use leverage to open larger trading positions despite your initial commitment if the minimum deposit is minimal. 4 BEST CURRENCY PAIRS FOR BEGINNER BOTSWANANS TO TRADE Contrary to what many people believe, determining which currency pairs are most advantageous to trade in when you are just starting is not a simple task. Many new traders make the common error of investing in the very first currency pair that comes to mind, only to later learn that doing some research is required to identify the finest currency pair for beginners to trade in the foreign exchange market. The following currency pairings are recommended for forex beginners: EUR/USD – This currency pair is the most liquid, has moderate volatility, and is underpinned by a solid economic framework. USD/JPY – It has competitive spreads and a trend that is more predictable than other currencies. This combination offers traders exceptional and lucrative opportunities. It contributes to 17 percent of all Forex market transactions, making it the second most liquid instrument in the business. USD/CHF – Our pair is simpler than the others that are indicated on this list for novices to comprehend. Conversely, the pair proves difficult to traders who depend only on technical analysis. EUR/GBP – This currency pair’s predictability makes it great for beginners. The Euro is a currency pair that is less volatile than all others. Recessions and economic crises, for instance, have a substantial influence on currency prices, therefore traders should be vigilant about their occurrence. 4 BEST CURRENCY PAIRS FOR PROFESSIONAL BOTSWANANS TO TRADE More competent and professional Botswanan traders have a better understanding of how to successfully manage their risk and transform unpredictable market situations into trading opportunities with higher potential profits. Because of this, the following currency pairings are highly recommended for professional traders operating in Botswana: USD/JPY – It follows a linear pattern and has more volatility than the EUR/USD pair. This foreign exchange currency pair generates profitable pip opportunities and in-depth market evaluations, making it an excellent choice for experienced traders. USD/CAD – The price of Canadian crude oil has a significant impact on this currency pair. The value of the Canadian dollar rises as oil prices in Canada rise, while the value of the Canadian dollar falls when oil prices fall. GBP/JPY – You may be interested in trading this pair for a few reasons, including the high volatility, the ability to monitor risk, and the abundance of trading tools. When trading the GBP/JPY currency pair, it is important to keep in mind that the connection between the yen and the price of energy may have a considerable influence on the value of the British pound. 8 BEST NO-DEPOSIT FOREX BROKERS IN BOTSWANA By taking advantage of a forex no-deposit bonus, also known as a free initial deposit, offered by your broker, you will can enter the foreign exchange market without putting any of your own money at risk. Beginner traders who are still developing their trading skills and who might profit from receiving free trading credit are the target audience for no-deposit bonuses. Trade Nation – 1,000 points when Botswanans register an account Tickmill – 10% Reward SuperForex – $88 No-Deposit Bonus MTrading – $30 No-Deposit Bonus FBS – Up to $100 Quick Start and $140 Level-Up Bonus XM – $30 No-Deposit Bonus RoboForex – $30 No-Deposit Bonus InstaForex – $1,000 No-Deposit Bonus TRADE NATION Overall Rating * 4.7/5 Min Deposit USD 0 Regulators FSCA, SCB Trading Desk Meta Trader 4 Crypto Yes Total Pairs 33 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Trade Nation’s website Trade Nation provides Botswanans with a loyalty program through which they may earn one thousand trading points after registering their trading account and verifying their identity. In addition to this, Botswanans who make trades using a Trade Nation Account are eligible to accumulate points for each unit of base currency that they transact. TICKMILL Overall Rating * 4.7/5 Min Deposit $100 / 1 343 BWP Regulators CySEC, FCA, FSA, FSCA, Labuan FSA Trading Desk Meta Trader 4 Crypto Yes Total Pairs 62 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Tickmill’s website If you are a first-time trader and you sign up for an account with Tickmill, you will be eligible for a $30 Welcome Account bonus. You will not be required to make an initial deposit. This program is exclusively available to new customers and enables customers to cash out any gains they make while using the bonus money. SUPERFOREX Overall Rating * 4.5/5 Min Deposit USD 1 Regulators IFSC Trading Desk Metatrader 4 Crypto Yes Total Pairs 300 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on SuperForex’s website After a client has registered a live trading account with SuperForex and had their account fully verified, they are eligible for an 88 USD bonus that does not need a deposit. After confirming their accounts, traders just need to click the banner that says “Get the No Deposit Offer” to be eligible for the bonus, which does not need them to make an initial deposit. MTRADING Overall Rating * 4.1/5 Min Deposit USD 10 Regulators Not Regulated Trading Desk Meta Trader 4 Crypto Yes Total Pairs – Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on MTrading’s website Traders from Botswana who sign up for an account with MTrading are eligible to get a $30 welcome bonus with no minimum deposit required. However, for Botswanans to be eligible for this bonus that does not need a deposit, they will need to complete the whole verification procedure. FBS Overall Rating * 4.7/5 Min Deposit USD 5 / 67 BWP Regulators IFSC, FSCA (South Africa), ASIC, CySEC Trading Desk MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform. Crypto Yes Total Pairs 250 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on FBS’s website The Quick Start Bonus and the Level Up Bonus are the two distinct types of no-deposit incentives that are offered by FBS. Retail traders in Botswana can receive the $100 Quick Start incentive by registering for an account using the FBS mobile app. They will be led through a seven-step program in which they will be instructed on how to trade without taking any unnecessary risks. Traders could sign up for the Level Up incentive, which entitles them to a free credit of $140 in the Personal Area after their account has been validated. When a trader maintains their account for 20 days in a row, they are eligible to get an extra $70, which enables them to take whatever winnings they have earned. XM Overall Rating * 4.8/5 Min Deposit USD 5 / 67 BWP Regulators IFSC, CySec, ASIC Trading Desk Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform Total Pairs 57 Islamic Account Yes Trading Fees No (Just spread) Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on XM’s website XM offers all newly registered accounts a $30 incentive to test how well their platform functions in a real-world trading scenario. After you have validated your account and claimed your bonus, it will be promptly credited to your trading account. There is no upper limit on the amount of money that may be withdrawn from your trading account; however, every time cash is withdrawn, your trading bonus will be null and worthless. ROBOFOREX Overall Rating * 4.7/5 Min Deposit USD 10 Regulators IFSC Trading Desk Meta Trader 4 Crypto Yes Total Pairs 36 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on RoboForex’s website RoboForex offers a $30 welcome bonus to verified traders who establish a live trading account with the company. This benefit does not need the trader to make an initial commitment. INSTAFOREX Overall Rating * 4.8/5 Min Deposit USD 1 Regulators CySEC, FSC Trading Desk MetaTrader 4 MetaTrader 5 MultiTerminal WebTrader Crypto Yes Total Pairs 100 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on InstaForex’s website The No-Deposit Bonus provided by InstaForex is an excellent means of getting started in the foreign exchange market. This is your pass into the world’s largest and most liquid market, which is where a sizeable number of traders now earn most of their livelihood. Because of the $1,000 reward, you will not have to risk any of your own money to judge our unrivalled order execution quality in real-world trading conditions. The bonus is immediately applied when the request has been made and may be put to immediate use in trading. FOREX TRADING VS STOCK TRADING VS CRYPTOCURRENCY TRADING COMPARED Forex Trading Stock Trading Crypto Trading Market Hours24/59 am – 3 pm (GMT+3) Monday to Friday24/7 Trading SpeedInstantSlowInstant How is it traded?OTCExchangesOTC/Exchanges Price FluctuationFastSlowFast Min. Trade Size0.01 lots1 share or fractions1 lot or fractions VolatilityHighLowHigh LiquidityVery HighBlue Chip Stocks are the most liquidOnly major crypto e.g. BTC, ETH, LTC, DOGE, etc. Trading VolumeHighHighMedium Regulation$6.6 Trillion7,369,200$500 Billion+ Investment HorizonShort, Medium, Long-TermMedium and Long-TermShort, Medium, Long-Term Average Leverage Ratios1:100 – 1:3000+<1:100<1:10 Susceptibility to Macroeconomic FactorsRarely as turbulent as CryptoYes, Economic PerformanceYes Consumer Behaviour Supply and Demand HOW TO CHOOSE A FOREX BROKER IN BOTSWANA For those who are new to forex trading, choosing a broker is one of the most important decisions you will ever make. All your trading cash is being transferred to that firm, and you believe that it will be available to trade with and withdraw after you have made a profit. If your broker steals your money, all your efforts and countless hours studying will be in vain, regardless of how good your forex tactics are. To locate a quality forex broker, you can use the following guideline so that you end up with the proper broker that suits your demands without exposing you to frauds. DISCOVER WHAT YOUR NEEDS ARE Before researching brokers, evaluate your individual demands. Here are some considerations: Will you engage in day trading often or infrequently? Trade very minor movements or seize larger ones? Consider using an ECN broker if you often engage in day trading and want to capitalize on modest price fluctuations. You will be charged a fee on transactions, but the spreads are significantly narrower, which is important for trading tiny price fluctuations. Only search for “ECN Forex Brokers” If you do not believe you will require an ECN broker, you still have access to many prospective brokers. However, if you want to engage in scalping, you will need an ECN broker. How much capital do you have? You must exchange micro-lots with a limited quantity of capital. If you have above $5,000, you may begin trading micro lots daily. Open a basic lot account only if you have a minimum of $50,000. Choose a broker and account type (lot size) according to your financial resources. When it comes to depositing and withdrawing cash from your account, brokers provide a range of options. Choose a broker who meets your requirements. WHAT SHOULD YOU LOOK FOR IN A BROKER? Now that you know what you want and have cut down the list of brokers, search for the following in the remaining brokers: A no “dealing desk.” There are several advantages to trading directly with the market, rather than submitting your order to a broker who then places it in the market for you. Therefore, “re-quotes” are common but if the price has changed after you place your order, the broker will notify you and ask whether you still want to go forward with the transaction or not. Subsequently, many trade opportunities may have been lost due to the time delay. A well-established financial system and a licensed broker are both important considerations when choosing a broker. A broker with spreads that are as narrow as possible for day traders. You should anticipate the spread on a non-ECN account to be about one pip when trading EUR/USD during a large session, for example. This broker’s spread is extremely wide and will not help your trading strategy. ECN accounts should have a spread of half a pip or less during the most active trading hours. Choose a broker that will always be there for you. Open a practice account with each broker you are considering, and then bombard them with emails filled with questions about their services. Keep an eye on their response time and thoroughness. If you cannot get decent service from a broker, cross them off your list and move on. BE CAREFUL WHEN YOU CONSULT BROKER REVIEWS Look for written reviews and discussion forums as part of your study on a broker before deciding. However, you should use caution while dealing with such individuals. Most forums are not reputable sources, so you are more likely to uncover bogus reviews, both favourable and bad, if you are looking for information. Many day traders will lose money, and because most traders cannot acknowledge it to themselves, they blame others when it occurs to them. Even if the author may place the responsibility on the broker, the fact that someone complains about losing money does not automatically imply that the broker they used is poor. You can find out what others are saying but keep your perspective. False information is widely disseminated because it lacks a reliable source. TEST THE BROKER OUT FOR YOURSELF To begin, establish a practice account and familiarize yourself with the trading terms. As soon as you place an order, it should be processed immediately. The platform should be reliable and not crash often. Open a genuine account with a portion of the money you plan to deposit if the demo works successfully for a few weeks. If you have $10,000 to deposit, for example, you should only deposit $1,000 at first. You should trade the real account for at least two weeks using your half deposit. It is an innovative idea to keep testing customer service, asking them questions and seeing how fast they react. You may request a withdrawal for a portion of your accumulated cash. You may have to pay a few dollars for this, depending on your withdrawal method, but knowing whether withdrawals are simple is worth it. You have done your due diligence if everything is fine at this point, allowing you to deposit the balance of your money and resume trading as normal. PAY ATTENTION TO REGULATIONS, LEGAL ISSUES, AND OVERALL SAFETY OF FUNDS To ensure the integrity of brokerage activities, an official regulator should always be in place for a trustworthy broker. The selling of futures and options should not be subject to any form of abuse since traders should be safeguarded against both fraud and manipulation. For example, a US broker must be registered as a commercial and retail Forex dealer with the US Commodity Futures Trading Commission (CFTC). It must also be a member of the National Futures Association (NFA). This information can typically be found on the broker’s “About Us” section on the company’s website. Every nation in the world has a trade organization or regulatory body like this. When determining their broker’s location, traders should do due diligence and seek these qualifications. Researching when the broker received its license is also worthwhile in this regard, as it may have some relevance in terms of the broker’s general reputation and operating history. Brokers who are subject to regulation must follow a set of guidelines intended to protect the assets of investors. It is for this reason that regulation is so crucial, and a “Net Capital Rule” mandates that licensed brokers maintain a certain level of liquid capital. If a broker is forced to shut down, investors have a “safety net” in place. Regulated brokers in most countries are also obliged to retain all client money in segregated accounts so that customer funds cannot be accidentally (or purposefully) utilized for any other purpose. In certain jurisdictions, such as the United Kingdom, licensed brokers may provide their customers with government-backed deposit insurance so that they can get their money back if the broker manages to steal it. TRADE EXECUTION AND OVERALL EXECUTION POLICY When you are trading in a market that moves quickly, such as the foreign exchange market, you must choose a broker that can carry out your deals quickly and effectively. Any delays in the execution are likely to result in issues otherwise, costing you more money. TRADING AND NON-TRADING FEES It is the broker’s job to facilitate transactions between buyers and sellers by charging a fee for the service it provides. This price varies depending on the sort of service that the trader is signing up for, as well as the broker type. Dealing Desk Brokers charge simply spread, whereas ECN brokers charge both spread and commission fees. For retail traders, this is the easiest way to convey the issue. Fees are a one-time payment, while commissions fluctuate based on the supplied financial product and the quantity of the transaction. This is an important distinction for all traders to grasp. As a trader, you must maintain a “minimum balance” on your account to obtain the services you have signed up for and keep your account active, with smaller amounts the most beneficial for the Botswanan trader. TRADING PLATFORM The top foreign exchange brokers will have the most advanced trading platforms available. An efficient and reliable trading platform incorporates investor insights and a gateway for market participants. As a foreign exchange trader, it is your responsibility to guarantee that the software and trading platform you use is furnished with the fundamental, technical, and centralized analytical tools you will need. In addition, you need to examine the convenience with which transactions may be entered and exited. A trustworthy platform will provide you with prompt access to both fundamental and technical analysis, an exceptional safety system, automated trading, and visual elements such as graphs and charts, and it should always be user-friendly. Currently, the advanced MetaTrader 4 trading platform is the industry standard that is offered by most forex brokers in Botswana. DEPOSITS AND WITHDRAWALS You must choose a forex broker that allows for fast and simple deposits and withdrawals so that you can maximize both your benefits and your convenience. You can bolster your trading position and take advantage of possibilities that may unexpectedly present themselves in the market when you make quick deposits. If you need to withdraw your cash for any reason, the withdrawal procedure should likewise be quick and straightforward, allowing your money to be returned to you in no more than a few business days at the most. ACCOUNT FEATURES Having a selection of different sorts of accounts available to pick from is always a benefit. Because the financial capabilities, requirements, and goals of each trader are unique, a broker needs to provide a diverse selection of account types so that they can meet the requirements of their clientele. The most reputable forex brokers will be aware that the power of choice can take a business a long way; investors are more likely to thrive in an environment of freedom than one of the constraints. RANGE OF MARKETS When it comes to trading foreign currency, having a larger number of trading instruments available to you may provide you with more opportunities. Choose a broker that not only offers to trade in the main currency pairings but also offers trading in the minor currency pairs, exotic currency pairs, precious metals, and other commodities. Gold, for example, tends to be a very sought-after commodity during periods when both the economy and the political climate are unstable. DEMO ACCOUNT It is essential to practice trading with a demo account before moving on to trade with a real account. If a forex broker does not provide demo accounts, you should immediately turn away from them. Demo accounts allow traders to practice their skills under genuine market circumstances but with fictitious funds; this eliminates any potential monetary loss. This is the most effective method for putting your trading technique to the test as well as being familiar with the ins and outs of the trading process. You can learn about both your strengths and shortcomings as a trader, and you should not start live trading unless you are sure of yourself and are prepared to do so. EDUCATION AND RESEARCH To aid their clients in becoming more knowledgeable traders, brokers often provide educational opportunities and research. This may be accomplished in a variety of ways, ranging from simple blog postings to e-books, courses, and even full online academies taught in conjunction with subject-matter experts. It is also usual practice for traders to participate in live seminars as well as online webinars to get assistance with their professional growth. BEFORE YOU START TRADING, READ THESE FEW BASICS TO FOREX TRADING One of the most prominent features of the forex market is that it is a 24-hour market, even though it is open every day of the week except for Friday evening through Sunday evening. The trading sessions in Europe, Asia, and New York are all conducted simultaneously. Despite some overlap, the most significant currencies in each market tend to be traded during those hours. Currency trading may only be done in pairs. Trading in the forex market necessitates purchasing one currency and selling it for another. A fourth decimal place has been added to the value of all currencies. A pip or percentage point is the smallest increment in price that may be traded at a given price. One pip is typically equal to one-hundredth of one percent. A variety of lot sizes are available for trading in the foreign exchange market, including: A nano lot is 100 units of the base currency A micro lot is 1,000 units of the base currency A mini lot is 10,000 units of the base currency A standard lot is 100,000 units of the base currency Only 18 currency pairings account for the great bulk of currency trading activity, in contrast to the hundreds of businesses available on global equities markets. Many of the same factors that affect the stock market also affect the currency market, which is attracting a growing number of stock traders. The forex market’s currency values are heavily influenced by the forces of supply and demand. In other words, the dollar’s value rises when people want it more, and its value falls when people have too much of it and supply exceeds demand. Other elements, such as interest rates, new economic data from big countries, and geopolitical worries, may influence currency values. 20 FOREX TERMS YOU MUST KNOW The forex market has a language of its own and beginner Botswanan traders must familiarize themselves with some of the following terms that they will come across: Pip Bid, Ask and Spread Leverage Volume Slippage Base and Counter Currency Long and Short Positions Value Dates and Rollovers Appreciation Arbitrage Bear Market Bull Market Currency Pair Economic Calendar Margin and Margin Call Over the Counter Resistance Round Trip Tomorrow Next Volatility PIP This is the smallest possible change in the currency quotation. One-tenth of the stated currency is referred to as a “pip.” To have an impact on Forex rates, a currency must fluctuate by at least 0.00001 percent of its value. The term “pips” has entered the lexicon of the Forex trader. Pips are used to represent price changes and even profit margins. However, since the pip may relate to a variety of different monetary values, it takes some practice to figure out what is being said. BID, ASK AND SPREAD It is market makers that manage the forex markets. They act as a constant two-way market for all currencies, no matter what time of day or night it is. Because of this, they give purchase and sell prices. If you want to purchase anything, you must pay less than you want to sell it for. By owning a volatile asset over an uncertain length of time, the difference is expected to pay the investors for their risk. Their willingness to acquire at one price and their willingness to sell at another is referred to as their “bid price” and “ask price, respectively.” The difference between the bid price and the ask price is referred to as the bid-ask spread. LEVERAGE It is the amount of money utilized in a transaction divided by the amount of money needed for the transaction. When it comes to trading, this is the percentage or fractional growth in your available money that you can make. It gives dealers the ability to trade higher-than-capital values. You may trade with a notional value 100 times bigger than the capital in your trading account if you have a leverage ratio of 100:1. VOLUME The term “volume” in your platform’s order window refers to the amount of product that will be bought or sold. The term “volume” relates to the number of lots, where 100,000 units make up one lot. Different currencies provide different lot sizes. Market makers provide more flexibility in exchange rates for currencies that have a higher level of liquidity. SLIPPAGE When you are trading, you may sometimes see a minute disparity between the price you anticipate and the price at which the deal is performed (the price when the trade is executed). Slippage is the term that is used to describe what happens when this occurs. As a trader, you will come into this phenomenon at some point, and depending on how you choose to react, it may result in either favorable or bad outcomes. The most common causes of slippage are fluctuations in the market and slow execution rates. BASE AND COUNTER CURRENCY Botswanans can sell their security on the stock and bond markets. This indicates that they can exchange their security for monetary compensation. In the foreign exchange market, one makes simultaneous purchases of currency and sales of currency. This indicates that one makes a transaction in which one type of money is traded for another. Because of this, the values of currencies are usually expressed in terms of pairs. The price is the amount of the first currency, denoted in the second currency, that one is ready to pay to acquire the second currency. Because the price is consistently stated in terms of the initial currency, that currency has earned the designation of “base currency.” The term “counter currency” refers to the other currency that is being discussed in the pair. For instance, in a currency pair denoted by the symbols USD/EUR, the United States Dollar would be considered the “base currency,” while the Euro would be considered the “counter currency.” LONG AND SHORT POSITIONS The foreign exchange, or forex, markets enable traders to take both long and short positions, as the bond and stock markets. On the other hand, the definitions of long and short positions shift often throughout this market. This is the case once again attributed to the reason that currency pairs are exchanged. Therefore, beginner Botswanan investors often have trouble understanding what takes place when they go long and what it means to go short. Going long in the foreign exchange market involves purchasing units of the base currency while simultaneously selling units of the counter currency. For instance, if you wanted to take a long position on the USD/EUR pair, you would have to make a market transaction in which you sold EUR and bought USD. In the same vein, selling units of the base currency on the foreign exchange market and simultaneously purchasing units of the counter currency is referred to as going short. Going shorter is adding to a short position and the opposite of going longer. Therefore, if you were to take a short position in the USD/EUR pair, you would have to sell the USD while concurrently purchasing EUR to close the position. Squaring off is another term that describes the process of returning to a zero position after being in a long or short position. If you are long, you need to close out your position by selling, but if you are short, you need to close out your position by buying. VALUE DATES AND ROLLOVERS An agreement to pay financial obligations is said to be “value-dated” if both parties to a transaction have agreed on that date. Therefore, all open positions in derivative contracts are automatically closed at their respective value dates. As the valuation date approaches, contracts become increasingly volatile. Traders may also elect to extend the term of their contracts by rolling them over. In other words, instead of settling their contracts on the current value date, they choose the following value date. A charge based on interest rate discrepancies between the currencies must be agreed upon by both parties for this to work. APPRECIATION When the price of a financial product rises as a direct result of increased demand in the market, this phenomenon is referred to as “appreciation.” ARBITRAGE The act of purchasing or selling a financial instrument simultaneously to profit from minute price differences across marketplaces. BEAR MARKET A market that is considered a bear market is one in which prices are falling. A bear market is when the market has been trending downward for an extended period, and traders have either truly little optimism or very much pessimism, making it difficult for the market to stage a rebound. BULL MARKET A market in which prices are consistently going up is known as a bull market. It is a widespread practice to refer to a market, instrument, or industry that is experiencing an upward trend as a “bull market.” Although “bull market” may be used to refer to any significant market activity, it is most often used in the money markets when the price of an asset increases by at least 20 percent from its most recent low. Bull markets may also refer to any robust market activity. A bull market occurs when investors are optimistic about the future profitability of an asset or the performance of market indexes as a whole. Although a 20% increase in market prices is often regarded to signal the beginning of a bullish trend, most indicators of an impending bull market are less visible. Traders apply technical analysis to help them recognize bullish indicators. Technical indicators include Bollinger Bands, Moving averages (MAs), the Moving Average Convergence Divergence (MACD), stochastic, and the Relative Strength Index (RSI). Bear markets are the antithesis of bull markets and occur when investors are pessimistic about the market’s future. CURRENCY PAIR A price quotation of the exchange rate between two distinct currencies that are exchanged on the foreign exchange market is referred to as a currency pair. Foreign exchange trading, sometimes known as forex trading, involves buying and selling currencies simultaneously. When you purchase or sell anything on the foreign exchange market, you do it in currency pairings. A three-letter code represents each of the currencies that make up the pair. The name of the nation is indicated by the first two letters, and the name of the currency used in that country is indicated by the third letter, which is often the first letter of the currency’s name. For instance, the currency code for the Botswanan Pula is BWP. ECONOMIC CALENDAR The dates and times of important news releases and events that may have an impact on the dynamic exchange rates of currencies along with the overall financial market are listed on an economic calendar. Financial markets and currency volatility are often affected by these occurrences. Traders might plan their strategies based on the information provided by an economic calendar. Monetary and fiscal policy statements have the greatest impact on the FX market. By keeping an eye on the economic calendar, traders may keep track of any events that might influence their open positions and plan trades accordingly. MARGIN AND MARGIN CALL To trade in Forex, a margin is needed. The minimal amount of collateral or deposit might be referred to as a margin. This margin gives you the ability to take out a ‘loan,’ or a bigger sum of money. If you do not have enough money in your trading account to cover open positions, you will get a margin call. A situation in which you have a higher level of floating losses than the needed minimum buffer. OVER THE COUNTER There is a type of trading known as OTC trading that is not done on a regulated exchange, like share trading. A dealer network is often used to facilitate OTC deals, which typically include just two parties. Unlike exchange-based trading, OTC deals are not subject to the same regulations, allowing for a wide variety of possibilities, but also a wide range of hazards. Trading over the counter (OTC) frequently involves seeing two prices listed namely one for buying and one for selling. RESISTANCE This is a term used in technical analysis to describe the point at which an asset’s value reaches a point where market participants no longer want to acquire it. When supply builds up around a certain price point, it acts as a barrier to upward movement. There comes a point at which the price increase is stymied by an increasing number of sellers who desire to sell at that price, known as resistance. There will be a rise in the number of selling when the price approaches the level of resistance. ROUND TRIP A round trip is a process that involves both the buying and selling of a certain amount of currency. TOMORROW NEXT This refers to traders avoiding the delivery of cash by exchanging currencies. It also refers to the Botswanan trader’s ability to keep a posture for an entire day without having to worry about delivery. VOLATILITY Measures how much price swings over a certain time. Volatility is a measure of this. Volatility in forex trading is a measure of the size of the currency pair’s upswings and downswings. Volatility refers to a currency’s ability to change in price. Low volatility refers to currency pairs that do not vary as much. Before making a deal, it is crucial to know how volatile a currency pair is. When determining the size of your trade and the level at which you want to place a stop loss, always keep volatility in mind. UNDERSTANDING FOREX CHARTING Using a forex chart, you can see how the value of two currencies has fluctuated over time. These charts can assist you to comprehend the markets if you are just starting forex trading. Depending on the time range you choose, a forex chart will display a different amount of time. By default, many forex charts display trade data for 24 hours across a daily time range. Other time ranges, such as minutes or months, are also available for selection. Advanced forex live charts and real-time trading charts may help you recognize patterns and take advantage of profit possibilities. Line charts, bar charts, and candlestick charts are the three most common kinds of Forex charts. Forex charts may take a variety of shapes these three are the most common, and we will be exploring them in detail below. LINE CHARTS As the first chart kind to be devised, this one is the most basic and least informative. The diagram is drawn simply. When a new period begins, the open price and the closing price are the two most important characteristics to consider. On a line chart, each of these criteria is represented by a dotted line, which connects to a dot for the open price. A line is formed by connecting dots recursively. The following are the primary characteristics of the price chart visualization type: One cannot use the Line chart to trade the FX market using simple geometric forms as a basis for price patterns. To design trendlines that resemble price ranges, you will need to know the price range’s key features while using this forex trading chart, which is best used for lengthier periods beginning at D1. Price charts and EMA indicator schemes commonly employ this form of display to offer more precise indications for entering and exiting a trade. BAR CHARTS Forex Line charts of price were followed by bar charts of the same data. In-depth and difficult to understand, this style of forex chart is more useful. These vertical lines, known as bars, make up the bar chart. The low and high of the day are used to form vertical bars on a bar chart, which represent each trading period. The highs and lows of the price, as well as the open and closing prices, are all included in a bar chart, which is a more detailed version of a line chart. You are aware that the price might rise above the closing price numerous times throughout the movement. During the time a bar was developing, its price rose to its maximum level, which is represented by its price high. Only the lowest tiers are examined in this case. As a trader, it is critical to be able to see the price trend over a certain length of time to properly analyse forex charts. the main characteristics of the bar graphs: The horizontal dash on the left side of the horizontal line indicates the initial price, while the right side of the line indicates the closing price. There are two sorts of bar charts: rising and decreasing. It is the opposite in a falling bar, with the beginning price lower than the ending price. There are a variety of trading techniques that use bars, the most common of which are the pin bar trading strategy, the inside bar trading strategy, and the engulfing bar trading approach. CANDLESTICK CHARTS Candlestick charts, which originated in Japan, have become a popular tool for traders and investors alike. In terms of information, this price chart is the best since it incorporates all the major kinds of charts and offers color information regarding rising or falling prices. There is a black/red or white/green body and either a top or bottom shadow on a candlestick. The wick of a candlestick may be mentioned in certain descriptions. For a certain period, the highs and lows in price are shown by the top and bottom shadows. The starting and closing prices are shown at the top and bottom of the candlestick’s body, respectively. White/green candlesticks indicate a price difference between the open and close that favors buying the stock at a higher price point. The lower it is, the more black/red the body becomes. If the closing price is the same as either the high or the low, one of the shadows may not exist (or both). A candlestick known as a Doji may not have a body if the closing and starting prices are the same. The following are the primary characteristics of a candlestick chart: The bottom and upper limits of the candlestick’s body are used to show the opening and closing prices, respectively. The initial price of a rising candle (white) is always below the candle’s closing price, while the opening price of a falling candle (black) is always above the closing price. There are several candlestick variations such as a candlestick without shadows and a body, one with shadows and a body but no shadows, one with shadows without a distinct body but a black candlestick, and so forth. Using Japanese Candlestick charts, traders can use a variety of trading strategies. It is even possible to do technical analysis using candlesticks. Candlesticks of the same kind should be compared to see if there are any patterns. In addition, there are already more than 100 assorted designs, but just a handful of them are gaining traction. EFFECTIVE RISK MANAGEMENT FOR BOTSWANAN FOREX TRADERS Currency risk management enables you to create a set of rules and controls to assist you to manage any negative consequences of a forex transaction. Because it is ideal to have a risk management plan in place before trading, effective methods need considerable preparation from the outset. The following are the most typical dangers that Botswanan traders encounter while trading forex: Currency risk refers to price variations in the forex market, which may make buying forex cheaper or more costly. Interest Rate Risk refers to the risk of interest rates rising or falling unexpectedly, which influences volatility. Liquidity risk occurs when Botswanan traders are unable to acquire or sell an item rapidly enough to avoid risk. When Botswanan traders engage in margin trading, they run the risk of experiencing multiplied losses. BEST FOREX STRATEGIES FOR BOTSWANAN TRADERS REVEALED A forex trading strategy is a method by which a forex trader decides whether to purchase or sell a currency pair. Depending on what happens in the news, forex trading tactics might be technical or fundamental. A trader’s currency trading strategy is often made up of trading signals that show when to buy and sell. Forex trading strategies may be discovered on the internet or developed by traders. The number of distinct factors that may be utilized to aid you in establishing a foreign exchange trading strategy is limitless. Many Botswanan traders like blending components of other approaches to create one that is tailored to their own needs, interests, and goals. If you are new to the market, developing your own currency trading strategy might be difficult and overwhelming. Fortunately, there are various well-known approaches to the currency market. You may either copy one of these famous designs or create your own by combining parts from multiple diverse sources. The following are some of the most common forex trading methods: Day Trading – The tactics used in day trading for forex are like those used in other types of investing. Forex day traders will initiate and close deals on the same day, rather than leaving positions open overnight. Scalping — Throughout the day, a scalping approach is used in several low-margin trades. Scalping is a strategy for fast entering and exiting the forex market. The key to forex scalping is to execute many transactions while maintaining the discipline to look for modest profits that pile up over time. Swing Trading – Swing trading is a type of forex trading that is based on the market’s “swings,” which are longer than day trading but shorter than position trading. Position Trading — A position trading strategy is a trading technique that focuses on the long term. This is when you take a long position in a currency and keep it for a long time. Because position traders often ride out large negative swings, they must guarantee that they have the cash to do so. Hedging – In the currency hedging strategy, you play both sides of the long and short fences. Taking both long and short positions, on the other hand, may limit your profit possibilities. Trend Trading – Aspects of trend trading are used in several prominent forex strategies. Botswanan traders use trend trading to track currency changes and decide whether to buy, sell, or hold. Range Trading – This may be thought of as a broader way of defining trading trends. Traders look for a wide selection of currencies that will stay steady throughout time. These ranges, or channels, will provide traders with a promising idea of what to expect in terms of resistance and support, as well as when they will occur. Breakout Trading – When a currency moves outside of or breaks out of, certain ranges, traders utilize the breakout trading approach. A currency that breaks above a previously recorded range may imply that it will continue to rise, indicating that it is a suitable time to purchase. Forex Momentum Trading – A forex momentum trading technique emphasizes the direction in which a currency’s value is moving. Traders who employ this strategy assume that a currency that is moving in one way will continue to trend in that manner in the future. Retracement – Some more cautious traders choose to use the forex retracement strategy, which entails waiting for a currency to “retrace its steps” in the opposite direction before entering. Reverse Trading – The reverse trading strategy is not recommended for persons with little experience in the foreign currency exchange market. Traders use this strategy to analyse data to predict when a trend will reverse, enabling them to buy or sell ahead of the reversal. SPOT, FORWARDS, AND FUTURES IN FOREX TRADING SPOT MARKET Forex Spot Market is the most common means of exchanging currencies between businesses, corporations, and individuals nowadays. Increased use of information and communication technology (ICTs) has led to a growth in the number of forex brokers, boosting the attractiveness of the spot market even more. Investing in foreign currency has never been easier thanks to these innovative tools. The spot market is what most people talk about when they talk about forex trading. Currency is bought and sold on the spot market at its current market value. Supply and demand, current interest rates, and other factors all have a role in determining the price of this currency. Two parties agree on a price and then carry out a bilateral transaction in which they trade multiple currencies for cash on the spot market. This is even though the market is often seen as operating in the present. FORWARDS MARKET A private agreement between two participants in the OTC markets to buy a currency at a predetermined future date and price is what is known as a forward contract. Two parties have agreed on the parameters of their agreement before trading in the futures market. FUTURES MARKET An agreement to exchange currencies at a certain price and date in the future might be described as a “futures contract.” Futures are traded on the stock market, not over the counter. Two parties have agreed on the parameters of their agreement before trading in the futures market. Even though contracts are legally binding, they may be acquired or sold before expiry, and are usually paid in cash at the underlying exchange. Currency traders may benefit from using currency forwards and futures markets to mitigate risk. Although speculators also engage in these markets, huge multinational corporations often use them to hedge against currency fluctuations. ASK AND BID PRICE IN FOREX TRADING The gap between the prices at which a forex trading broker would buy and sell a currency is known as the bid-ask spread (or buy-sell spread colloquially). A currency’s spread may be considered in a retail market, yet it varies widely between brokers due to the bid-ask price difference. SPREAD AND PIPS IN FOREX TRADING The gap between the prices at which a forex trading broker would buy and sell a currency is known as the bid-ask spread (or buy-sell spread colloquially). When you buy or sell a currency pair, you pay a modest charge known as the spread. However, in the retail market, the spread, or difference between the bid and ask prices, may be large. When you look at the price that is being offered, the spread, which is also referred to as the bid/ask spread, is the difference between the price that is being offered to purchase and the price that is being offered to sell a currency pair. For currency pairs, pip changes represent the fourth decimal place of a price change, or the second-smallest change when trading JPY-listed currency pairings. Besides the spread, the size of your transaction influences your final cost. If the number of pips calculated above is higher, the spread will be wider. Narrower spreads are more appealing to traders since they reduce the cost of a transaction. When the market is very volatile and there is minimal liquidity, spreads tend to be wide, and vice versa. A currency pair’s spread swings because of price changes between the buy and sell prices. It is the opposite of a fixed spread, which is referred to as a variable spread. When trading forex, you will have to contend with continuously shifting spreads. A large news release or other market volatility-inducing events may cause the currency spread to expand. A drawback of a variable spread is that your assets may be liquidated, or you may be subject to a margin call if the gap expands significantly. In addition, Botswanans must remember that brokers’ fees might also differ substantially. AN INTRODUCTION TO DAY TRADING The simultaneous buy and selling of currency pairs are at the heart of Forex day trading, one of the most popular short-term trading strategies. Forex traders make a few transactions per day and close them out at the end of the trading day instead of holding overnight holdings. To take advantage of the many opportunities provided by price swings in liquid currency pairings, day traders often seek particularly liquid and volatile currency pairs. These are some of the most common day trading strategies: Forex News Trading Trend Trading Momentum Trading Breakouts AN INTRODUCTION TO SWING TRADING Trading in small price changes within a bigger trend is known as “swing trading.” Based on the idea that market behavior is seldom linear but fluctuates constantly due to the friction between bulls and bears, swing traders can perceive these swings as profit opportunities. Short-term profit-taking may be achieved via swing trading by focusing on the points at which momentum shifts. Similarly, swing traders want to benefit from both positive and negative moves, much like day traders. Swing traders are not bound by the same regulations as day traders, who must close all positions at the end of the day. It is widespread practice for swing traders to keep their positions open for as long as the market has momentum, which may be as little as a few minutes or even up to several days. BEST FOREX BROKERS IN BOTSWANA To present Botswanans with the finest brokers, we have done significant research and evaluated several platforms. According to the broker’s offer and other noteworthy qualities, some aspects of the product are emphasized. BEST METATRADER 4 / MT4 FOREX BROKER IN BOTSWANA Overall Rating * 4.7/5 Min Deposit 5 USD / 67 BWP Regulators FSC Trading Desk MetaTrader 4 Crypto Yes Total Pairs 48 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Alpari’s website Overall, Alpari is the best MT4 forex broker in Botswana. Alpari offers Botswanans a well-regulated trading environment and offers competitive trading conditions. News is streamed through FxWirePro on the Alpari website and Botswanans can use AutoChartist for auto trading strategies. BEST METATRADER 5 / MT5 FOREX BROKER IN BOTSWANA Overall Rating * 4.9/5 Min Deposit USD 0 Regulators CySEC, FCA, DFSA, FSCA, FSA, CMA Trading Desk MT4, MT5, HFM APP Crypto Yes Total Pairs 50+ Islamic Account Yes Trading Fees 0 Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on HFM’s website Overall, HF Markets is the best MetaTrader 5 forex broker in Botswana. HF Markets offers MetaTrader 5 alongside a robust proprietary trading platform. HF Markets offers comprehensive and helpful trading tools to beginner and professional traders alike. BEST FOREX BROKER FOR BEGINNERS IN BOTSWANA Overall Rating * 4.9/5 Min Deposit $100 / 1 342 BWP Regulators ASIC, FSA Trading Desk MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central Crypto Yes Total Pairs 55+ Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Avatrade’s website Overall, AvaTrade is the best forex broker for beginners in Botswana. AvaTrade offers the most comprehensive educational materials that will help guide beginners. AvaTrade also offers a demo account in addition to helpful and friendly customer support. BEST LOW MINIMUM DEPOSIT FOREX BROKER IN BOTSWANA Overall Rating * 4.7/5 Min Deposit USD 5 / 67 BWP Regulators IFSC, FSCA (South Africa), ASIC, CySEC Trading Desk MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform. Crypto Yes Total Pairs 250 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on FBS’s website Overall, FBS is the best Low Minimum Deposit Forex Broker in Botswana. FBS allows Botswanans to start trading with capital from 12 BWP. FBS offers some of the best mobile trading technologies and the benefit of high leverage up to 1:3000. BEST ECN FOREX BROKER IN BOTSWANA Overall Rating * 4.9/5 Min Deposit 0 USD / 0 BWP Regulators ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Trading Desk MetaTrader 4, MetaTrader 5, cTrader and TradeView Crypto Yes (Not available in Africa) Total Pairs 60+ Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours OPEN AN ACCOUNT Read Review on Pepperstone’s website Overall, Pepperstone is the best ECN forex broker in Botswana. Pepperstone is an exceptionally large and prominent STP and ECN broker that offers negative balance protection and many social trading opportunities. BEST ISLAMIC / SWAP-FREE FOREX BROKER IN BOTSWANA Overall Rating * 4.9/5 Min Deposit USD 0 Regulators ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA Trading Desk Metatrader 4 and Metatrader 5 Crypto Yes Total Pairs 45 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Oanda’s website Overall, OANDA is the best Islamic / Swap-Free forex broker in Botswana. OANDA offers three retail trading accounts, one of which is a dedicated Islamic Account. OANDA offers award-winning trading platforms and a wide range of tradable markets. BEST FOREX TRADING APP IN BOTSWANA Overall Rating * 4.8/5 Min Deposit USD 10 / 136 BWP Regulators CySec, FCA Trading Desk None Crypto Yes Total Pairs 47 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on etoro’s website Overall, eToro is the best forex trading app in Botswana. eToro is not only the leading social trading platform in the industry but also leading forex and CFD broker. With eToro, Botswanans can expect commission-free trading and some of the tightest spreads. There is a plethora of trading tools that Botswanans can use to refine their trading strategies, and many educational materials for beginners who are just getting started in forex. BEST LOWEST SPREAD FOREX BROKER IN BOTSWANA Overall Rating * 4.5/5 Min Deposit USD 5 Regulators IFSC, CySec, ASIC Trading Desk Meta Trader 4 Total Pairs 55 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on XM’s website Overall, XM is the best lowest spread forex broker in Botswana. Botswanans can trade major currency pairs with spreads from 0.0 pips, ideal for day traders and scalpers. XM offers innovative trading technology and a range of tradable instruments. XM has a proprietary app and excellent trade execution alongside a range of educational materials and research tools. BEST NASDAQ 100 FOREX BROKER IN BOTSWANA Overall Rating * 4.7/5 Min Deposit $100 / 1 343 BWP Regulators CySEC, FCA, FSA, FSCA, Labuan FSA Trading Desk Meta Trader 4 Crypto Yes Total Pairs 62 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Tickmill’s website Overall, Tickmill is the best Nasdaq 100 forex broker in Botswana. In addition to offering several indices as CFDs, Tickmill also provides Botswanans access to the popular Nasdaq 100 index. With Tickmill, Botswanans have access to MetaTrader 4 and MetaTrader 5 trading platforms across several devices, including mobile trading. BEST VOLATILITY 75 / VIX 75 FOREX BROKER IN BOTSWANA Overall Rating * 4.7/5 Min Deposit USD 200 / 2 685 BWP Regulators ASIC Trading Desk MetaTrader 4 Crypto Yes Total Pairs 65 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on IC Market’s website Overall, IC Markets is the best Volatility 75 / VIX 75 forex broker in Botswana. IC Markets is the most trusted and largest true ECN broker that offers Botswanans access to the Volatility index. IC Markets offers several advanced trading technologies that give Botswanans a competitive advantage. BEST NDD FOREX BROKER IN BOTSWANA Overall Rating * 4.9/5 Min Deposit $10 / 134 BWP Regulators CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Trading Desk MetaTrader 4 and MetaTrader 5 Total Pairs 107 Islamic Account Yes Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on Exness’s website Overall, Exness is the best NDD forex broker in Botswana. Exness is one of the best No-Dealing Desk brokers that offers superior trade execution speeds and the best pricing in the industry. Exness only uses the best and most reliable liquidity providers in the world, including banks and hedge funds. BEST STP FOREX BROKER IN BOTSWANA Overall Rating * 4.7/5 Min Deposit USD 10 Regulators IFSC Trading Desk Meta Trader 4 Crypto Yes Total Pairs 36 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on RoboForex’s website Overall, RoboForex is the best STP forex broker in Botswana. RoboForex offers both ECN and STP trade execution to traders. RoboForex has several retail accounts and offers Botswanans a choice between powerful trading platforms. BEST SIGN-UP BONUS BROKER IN BOTSWANA Overall Rating * 4.8/5 Min Deposit USD 1 Regulators CySEC, FSC Trading Desk MetaTrader 4 MetaTrader 5 MultiTerminal WebTrader Crypto Yes Total Pairs 100 Islamic Account No Trading Fees Low Account Activation Time 24 Hours Read Review OPEN AN ACCOUNT on InstaForex’s website Overall, InstaForex is the best sign-up bonus broker in Botswana. When Botswanans register with InstaForex for the first time, they can get $1,000 as a no-deposit sign-up bonus to kickstart their trading journey. FREQUENTLY ASKED QUESTIONS IS FOREX TRADING LEGAL IN BOTSWANA? Yes, to carry out in Botswana, money must be exchanged first and therefore, Forex trading is permitted. Import, export, and overseas investment all involve the use of foreign currency. The most crucial aspect of Forex trading is to choose a reputable and secure broker that is licensed. HOW DO I START TRADING FOREX IN BOTSWANA? Do your research and learn more about forex, find the right forex broker for you and test out their platform, register an account, choose your currencies, develop a trading strategy, deposit funds, and start trading. WHAT IS MOBILE TRADING IN BOTSWANA? Mobile trading is only an extension of internet trading. The primary goal of the Forex market is to purchase and sell foreign currencies. To trade in the Forex market, consumers access broker websites on their smartphones, tablets, or phablets rather than on their desktop computers or laptops. IS FOREX TAXED IN BOTSWANA? Yes, Forex traders in Botswana should ensure that all taxes payable for a fiscal year are paid whenever their earnings reach the level where they are subject to taxation in Botswana. Even if a business is in the red, it is still necessary to submit Botswana taxes. CAN I BECOME WEALTHY TRADING FOREX IN BOTSWANA? It could take years to achieve wealth and more than 75% of traders fail to become wealthy. It is possible to earn a lot of money in forex trading if you are a hedge fund with a lot of money or a currency trader with exceptional competence. Far from being an easy path to riches, forex trading may lead to huge losses and even financial ruin for the typical individual trader. TABLE OF CONTENTS 1. Find The Best Botswana Forex Broker For Your Trading Level. 2. Forex Brokers in Botswana 3. Exness 1. Overview 1. Why we choose Exness 2. Features 3. Pros and Cons 4. AvaTrade 1. Overview 1. Why we choose AvaTrade 2. Features 3. Pros and Cons 5. HFM 1. Overview 1. Why we choose HFM 2. Features 3. Pros and Cons 6. Axi 1. Overview 1. Features 2. Pros and Cons 7. InstaForex 1. Overview 1. Why we choose InstaForex 2. Features 2. Pros and Cons 8. IG 1. Overview 1. Why we choose IG 2. Features 2. Pros and Cons 9. XM 1. Overview 2. Why did we choose XM 3. Features 4. Pros and Cons 10. FXTM 1. Overview 2. Why we choose FXTM 3. Features 4. Pros and Cons 11. Axiory 1. Overview 2. Why we choose Axiory 3. Features 1. Pros and Cons 12. Admirals 1. Overview 1. Why we choose Admirals 2. Features 3. Pros and Cons 13. Forex Trading Pros and Cons 14. Step-by-Step on How to Start Trading Forex in Botswana 1. Step 1 – Learn about Forex Trading 2. Step 2 – Learn the Basic Forex Trading Terminology 3. Step 3 – Register a Demo Account with A Broker of Your Choice 4. Step 4 – Learn about the Risks of Forex Trading 5. Step 5 – Learn about different Trading Strategies 6. Step 6 – Use Your Demo Account to Practise Trading 7. Step 7 – Register a Real Account when You Are Ready 8. Step 8 – Choose a Trading Platform 9. Step 9 – Deposit Funds into the Account and Start Trading 15. 4 Best Currency Pairs for Beginner Botswanans to Trade 16. 4 Best Currency Pairs for Professional Botswanans to Trade 17. 8 Best No-Deposit Forex Brokers in Botswana 1. Trade Nation 2. Tickmill 3. SuperForex 4. MTrading 5. FBS 6. XM 7. RoboForex 8. InstaForex 18. Forex Trading VS Stock Trading VS Cryptocurrency Trading Compared 19. How to Choose a Forex Broker in Botswana 1. Discover what your needs are 2. What should you look for in a broker? 3. Be careful when you consult broker reviews 4. Test the broker out for yourself 5. Pay attention to Regulations, Legal Issues, and overall Safety of Funds 6. Trade Execution and Overall Execution Policy 7. Trading and non-trading Fees 8. Trading Platform 9. Deposits and withdrawals 10. Account features 11. Range of Markets 12. Demo Account 13. Education and Research 20. Before You Start Trading, Read these Few Basics to Forex Trading 21. 20 Forex Terms you Must Know 1. Pip 2. Bid, Ask and Spread 3. Leverage 4. Volume 5. Slippage 6. Base and Counter Currency 7. Long and Short Positions 8. Value Dates and Rollovers 9. Appreciation 10. Arbitrage 11. Bear Market 12. Bull Market 13. Currency Pair 14. Economic Calendar 15. Margin and Margin Call 16. Over the Counter 17. Resistance 18. Round Trip 19. Tomorrow Next 20. Volatility 22. Understanding Forex Charting 1. Line Charts 2. Bar Charts 3. Candlestick Charts 23. Effective Risk Management for Botswanan Forex Traders 24. Best Forex Strategies for Botswanan Traders Revealed 25. Spot, Forwards, and Futures in Forex Trading 1. Spot Market 2. Forwards Market 3. Futures Market 26. Ask and Bid Price in Forex Trading 27. Spread and Pips in Forex Trading 28. An Introduction to Day Trading 29. An Introduction to Swing Trading 30. Best Forex Brokers in Botswana 1. Best MetaTrader 4 / MT4 Forex Broker in Botswana 2. Best MetaTrader 5 / MT5 Forex Broker in Botswana 3. Best Forex Broker for beginners in Botswana 4. Best Low Minimum Deposit Forex Broker in Botswana 5. Best ECN Forex Broker in Botswana 6. Best Islamic / Swap-Free Forex Broker in Botswana 7. Best Forex Trading App in Botswana 8. Best Lowest Spread Forex Broker in Botswana 9. Best Nasdaq 100 Forex Broker in Botswana 10. Best Volatility 75 / VIX 75 Forex Broker in Botswana 11. Best NDD Forex Broker in Botswana 12. Best STP Forex Broker in Botswana 13. Best Sign-up Bonus Broker in Botswana 31. Frequently Asked Questions 1. Is Forex Trading legal in Botswana? 2. How do I start trading forex in Botswana? 3. What is mobile trading in Botswana? 4. Is forex taxed in Botswana? 5. Can I become wealthy trading forex in Botswana? Latest News OANDA Review OANDA Review Overall, OANDA is very competitive in terms of its trading fees and spreads. OANDA is a multi-regulated forex broker with 11 Tier-1 (High Trust) and Fidelity Investments Review Fidelity Investments Review Overall, Fidelity Investments is considered low-risk, with an overall Trust Score of 95% out of 100. Fidelity Investments is licensed by two Tier-1 Shares AvaTrade Review AvaTrade Review Overall, AvaTrade is considered secure and can be summarised as dependable and trustworthy. AvaTrade is regulated by the elite FSCA and the FSA. CM Trading Demo Account CM Trading Demo Account CM Trading offers a free demo account. Demo accounts are available through the WebTrader platform. CM Trading is considered low-risk and Exness Minimum Deposit Exness Minimum Deposit Overall, the Exness Minimum Deposit amount required to register a live trading account is $10, this minimum deposit is equivalent to 188 Botswanan Pula (BWP). Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose. 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