Best Forex Trading Platforms In Ethiopia 2025
The Ethiopian Birr (ETB) cannot easily be traded following restrictions from the National Bank of Ethiopia (NBE). However, interest in forex trading more broadly is on the rise in Ethiopia and available through international brokers.
Explore our pick of the best forex brokers in Ethiopia. Every forex platform recommended is trusted and supports convenient payment methods like M-Pesa.
5 Top Forex Trading Platforms In Ethiopia
Following thousands of hours of comprehensive testing and analysis, these 6 platforms stand out as the best for forex traders in Ethiopia:
Here is a summary of why we recommend these brokers in March 2025:
- XM - XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.8 pips on the EUR/USD in the commission-free account.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
- AvaTrade - AvaTrade delivers 50+ currency pairs with tight spreads from 0.9 pips and zero commissions. Trade majors, minrs, and exotics 24/5 on leading forex platforms, notably MT4, with sophisticated charting tools and forex education to sharpen your edge, including a dedicated guide to 'Currency Trading'.
- Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
Best Forex Trading Platforms In Ethiopia 2025 Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
| XM | 55+ | 0.8 | / 5 | $5 | ASIC, CySEC, DFSA, IFSC |
| Vantage | 55+ | 0.0 | / 5 | $50 | FCA, ASIC, FSCA, VFSC |
| IC Markets | 75 | 0.02 | / 5 | $200 | ASIC, CySEC, FSA, CMA |
| AvaTrade | 50+ | 0.9 | / 5 | $100 | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
| Pepperstone | 100+ | 0.1 | / 5 | $0 | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Eightcap | 50+ | 0.0 | / 5 | $100 | ASIC, FCA, CySEC, SCB |
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
Christian Harris, Reviewer
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| GBPUSD Spread | 0.8 |
| EURUSD Spread | 0.8 |
| EURGBP Spread | 1.5 |
| Total Assets | 55+ |
| Leverage | 1:1000 |
| Platforms | MT4, MT5, TradingCentral |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
Cons
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable or web-accessible solution for a more beginner-friendly user experience with unique features.
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| GBPUSD Spread | 0.5 |
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.5 |
| Total Assets | 55+ |
| Leverage | 1:500 |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
- The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
- It’s quick and easy to open a live account – taking less than 5 minutes
Cons
- Unfortunately, cryptos are only available for Australian clients
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| GBPUSD Spread | 0.23 |
|---|---|
| EURUSD Spread | 0.02 |
| EURGBP Spread | 0.27 |
| Total Assets | 75 |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
Cons
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
AvaTrade
"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."
AvaTrade Quick Facts
| Bonus Offer | 20% Welcome Bonus up to $10,000 |
|---|---|
| GBPUSD Spread | 1.5 |
| EURUSD Spread | 0.9 |
| EURGBP Spread | 1.5 |
| Total Assets | 50+ |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
- AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
Cons
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
- Although the deposit process itself is smooth, AvaTrade still doesn’t facilitate crypto payments, a feature increasingly offered by brokers like TopFX, which caters to crypto-focused traders.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Pepperstone Quick Facts
| GBPUSD Spread | 0.4 |
|---|---|
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.4 |
| Total Assets | 100+ |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
Cons
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Eightcap Quick Facts
| GBPUSD Spread | 0.1 |
|---|---|
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.1 |
| Total Assets | 50+ |
| Leverage | 1:500 |
| Platforms | MT4, MT5, TradingView |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
- Eightcap stands out with a selection of powerful trading tools and resources, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- Having excelled across all key areas for day traders, Eightcap outperformed every competitor to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
Cons
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
- Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
How We Rate Forex Trading Platforms In Ethiopia
Our top-ranked forex Trading Platforms in Ethiopia achieved excellent scores in key criteria:
Trust
We only recommend forex brokers to traders in Ethiopia that we trust, an evaluation we make by weighing a firm’s regulatory credentials, track record, status as a publicly listed broker or bank, and our personal observations during the testing process.
The National Bank of Ethiopia (NBE) is not an active regulator and is mainly focused on ensuring the stability of the country’s financial systems and currency, the Ethiopian Birr (ETB). As a result, Ethiopians do not have a large selection of established and locally-regulated forex trading platforms to choose from.
As a result, we recommend picking a forex broker regulated by at least one ‘Green-Tier’ regulator, such as the Financial Conduct Authority (FCA) in the UK. This will help safeguard your funds from investment scams, which the Ethiopian state financial intelligence service has warned are on the rise.
- IC Markets excels in this department – it’s regulated by 2 ‘Green Tier’ regulators, has over 180,000 clients, and 17+ years of industry experience. Our experts have also traded forex at IC Markets for years with no major issues.
Account Funding
Trading forex in Ethiopia can be complicated because of currency controls imposed by the NBE. This can make it difficult to convert Ethiopian Birrs to other account currencies while making deposits.
As a result, we look for forex trading platforms that offer a good range of digital methods, including those available locally, such as M-Pesa, which launched in Ethiopia in 2023 after obtaining a Payment Instrument Issuer License from the NBE.
- XM makes funding your forex account from Ethiopia straightforward with multiple deposit options, including M-Pesa, plus a low starting deposit of 5 USD, around 300 ETB.
Forex Platforms
We favor forex brokers in Ethiopia with a choice of high-quality trading platforms, an assessment we make by routinely testing the software available.
Our analysis shows that the most popular options are still the MetaTrader platforms MT4 and MT5, which have led the market for decades due to powerful charting and automated trading capabilities that suit experienced currency traders.
Other terminals include the sophisticated cTrader, user-friendly yet powerful TradingView, and proprietary solutions that combine slick, intuitive interfaces with deep research and analytical tools. We’ve found these are often an excellent entry point for newer forex traders.
I’ve found some brokers only support certain platforms on specific accounts, so I recommend checking that the account you want to trade forex on supports your choice of platform.
- AvaTrade shines for its large selection of platforms and apps to suit all types of forex traders, from the MetaTrader suite to an in-house solution with a workspace that we really enjoy using.
Currency Pairs
Forex trading platforms with a large investment offering, notably currency pairs, score highly in our estimations, providing Ethiopians with a range of trading opportunities. This is especially important given that local restrictions make trading the Ethiopia Birr challenging.
50 currency pairs is our benchmark for a decent broker, but some of our top-rated forex platforms offer upwards of 80 currency pairs, with a huge selection of minors and exotics, spanning African currencies and those further afield.
- Pepperstone continues to stand out with over 100 currency pairs, plus currency indices for broader exposure, coupled with ultra-fast execution speeds of 30ms that will serve short-term strategies.
Fees
Forex trading platforms with low fees, both spreads and non-trading charges like deposits in Ethiopian Birr, rank highly in our evaluations as they help traders maximize returns, especially active day traders.
That’s why we record and evaluate spreads on popular currency pairs like the EUR/USD, GBP/USD and EUR/GBP. We also factor in the availability of a raw spread account with low commissions, as this pricing model is popular with many experienced forex traders.
Our pricing analysis also weighs the quality of the forex trading tools. We know from first-hand experience that it can sometimes be worth paying more for premium research, for instance, analyst insights into decisions by Ethiopia’s national bank, which may affect currency prices.
- IC Markets routinely tops our rankings of the cheapest forex brokers, especially for serious traders, featuring average spreads of just 0.1 pips on the EUR/USD, plus rebates of up to $2.50 per forex lot.
Methodology
To identify the best forex trading platforms in Ethiopia, we focused on all those offering currency products and accepting traders from Ethiopia, then ranked them by their overall rating. Our ratings are derived from extensive testing, which draws on over 100 data points and personal observations from our experts, with a particular focus on:
- Ensuring that brokers can be trusted and hold licenses with reputable authorities.
- Checking for convenient and accessible payment methods for Ethiopian forex traders.
- Prioritizing brokers that offer a range of reliable forex trading platforms and tools.
- Focusing on brokers that provide a wide range of major, minor and exotic currency pairs.
- Ensuring that brokers offer competitive trading and non-trading fees.
FAQ
Is Forex Trading Legal In Ethiopia?
Trading forex through online brokers isn’t banned in Ethiopia, but there are restrictions on converting the Ethiopian Birr.
Who Regulates Forex Trading Platforms In Ethiopia?
The National Bank of Ethiopia regulates the country’s financial markets, including setting the exchange rate for the Ethiopian Birr.
However, it does not actively regulate online brokers so many Ethiopians turn to more established brokerages that are based and regulated elsewhere.
How Much Money Do I Need To Trade Forex In Ethiopia?
Thanks to forex trading platforms with low minimum deposits, Ethiopians can start trading currencies with 0 to 250 USD, around 0 to 15,000 ETB.
That said, Pepperstone stands out as the highest-rated forex broker in Ethiopia with no minimum deposit, catering to traders on a budget.
Recommended Reading
Article Sources
- National Bank of Ethiopia (NBE)
- Warning On Crypto Trading - NBE
- Risk Of Investment Scams In Ethiopia - The Reporter
- M-Pesa Launches In Ethiopia - Connecting Africa
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