Best Forex Brokers In Zimbabwe 2024
To trade forex in Zimbabwe you will need to open an account with a broker. Although the Reserve Bank of Zimbabwe (RBZ) oversees forex trading domestically and is responsible for currency reforms that are combating the high inflation impacting the Zimbabwean Dollar, many residents turn to international brokers for their excellent platforms, fees and range of currency pairs.
Explore our pick of the best forex brokers in Zimbabwe. Every forex platform accepts traders from Zimbabwe and supports convenient deposit options like PayPal.
10 Top Forex Brokers In Zimbabwe
We have tested and analyzed hundreds of forex trading platforms and these 5 emerged as the best for traders in Zimbabwe:
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1
Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:500FCA, ASIC, FSCA, VFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, BondsProTrader, MT4, MT5, TradingView, DupliTradeSkrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPayUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
2
XM$30 No Deposit Bonus When You Register A Real Account
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
3
PrimeXBT$100 Deposit Bonus
$00.01 Lots1:1000CFDs, Cryptos, Forex, Indices, Commodities, FuturesOwnBitcoin Payments, Ethereum Payments, Credit Card, Debit CardUSD, EUR, GBP -
4
IQ OptionRISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
$100.001 Lots1:500CFD, Forex, Crypto, Stocks, Digital OptionsOwnSkrill, Yandex Money, QIWI, Wire Transfer, Alipay, Perfect Money, MoneyGram, Credit Card, Vietcombank Transfer, Volet, Maestro, Sofort, GlobePay, BoletoUSD, EUR, GBP, ZAR -
5
IGSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
6
FXCC100% First Deposit Bonus Up To $2000
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:500CySECCFDs, Forex, Indices, Commodities, CryptoMT4Skrill, Neteller, Rapid Transfer, Sofort, Paysafecard, Visa, Bitcoin Payments, Credit Card, Debit Card, Mastercard, Wire Transfer, UnionPay, Ethereum Payments, Netbanx Asia, BoletoUSD, EUR, GBP -
7
XTB78% of retail accounts lose money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (EU) 1:500 (Global)FCA, CySEC, KNF, CNMV, DFSA, FSCCFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFsxStationPayPal, Visa, Mastercard, Wire Transfer, Paysafecard, Skrill, Credit Card, Debit Card, Maestro, NetellerUSD, EUR, GBP, HUF -
8
Markets.comCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30FCA, CySEC, ASIC, FSCA, FSCCFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only)Markets.com Web/App Platform, MT4, MT5PayPal, Skrill, Neteller, Credit Card, Wire Transfer, Debit Card, iDeal, SofortUSD, EUR, GBP, ZAR, SEK, NOK, DKK, PLN, CZK, AED -
9
Axi81.6% of retail investor accounts lose money when trading CFDs with this provider
$00.01 Lots1:400FCA, ASIC, DFSA, FMAForex, CFDs, indices, shares, commodities, cryptocurrenciesMT4, AutoChartistNeteller, Skrill, Credit Card, Debit Card, Visa, Mastercard, JCB Card, Wire Transfer, FasaPay, PIX Payment, Maestro, Boleto, Giropay, Sofort, POLi, BPAY, iDeal, AlipayUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
10
BDSwiss
$100.01 Lots1:30FSC, FSACFDs, Forex, Stocks, Indices, Commodities, CryptoBDSwiss Webtrader, MT4, MT5Sofort, Mastercard, Credit Card, Bitcoin Payments, Wire Transfer, M-Pesa, PIX Payment, Debit Card, Skrill, NetellerUSD, EUR, GBP, SEK, PLN
Here is a short summary of why we think each broker belongs in this top list:
- 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.
- XM - XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.
- PrimeXBT - PrimeXBT offers 50 forex pairs, which is above the industry average and covers a good range of majors, minors and exotics. Traders can enjoy trading via margin with zero commissions. Additionally, the broker’s copy trading service allows you to explore various currency trading strategies.
- IQ Option - IQ Option offers CFD trading on 24 forex assets, including major pairs and some minors. EU traders can access a maximum of 1:30 leverage in line with local regulations. The broker offers commission-free trades but spreads are on the high side so the brand does not excel in this area.
- IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
- FXCC - FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.
- XTB - XTB provides access to 70+ currency pairs with low spreads averaging around 1 pip on majors. The xStation platform offers an intuitive environment for forex traders with an excellent charting package encompassing 30+ indicators, plus a range of order types, catering to various strategies and risk management techniques.
- Markets.com - Markets.com offers 43 major, minor and exotic currency pairs. The range is around the industry average, though spreads are fairly competitive, starting from 0.6 pips for EUR/USD. There’s also an excellent range of tools and education, including forex calculators and trading videos.
- Axi - Axi continues to offer a strong selection of 70+ currency pairs - more than many top brokers including award-winner AvaTrade, with only 50+. There are no restrictions on trading strategies including algo trading and scalping, which will serve both short-term and long-term traders.
- BDSwiss - BDSwiss continues to offer an above-average selection of 50+ currency pairs with leverage up to 1:400 on major pairs. Typical spreads for EURUSD come in at a competitive 0.3 pips plus a $6 commission which is in line with our award-winner, Pepperstone.
Best Forex Brokers In Zimbabwe 2024 Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
|---|---|---|---|---|---|
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55+ | 0.0 | / 5 | $50 | FCA, ASIC, FSCA, VFSC |
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55+ | 1.6 | / 5 | $5 | ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF |
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45+ | Variable | / 5 | $0 | - |
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60+ | 14 pips | / 5 | $10 | - |
|
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80+ | 0.8 | / 5 | $0 | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
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70+ | 0.2 | / 5 | $0 | CySEC |
|
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70+ | 1.0 | / 5 | $0 | FCA, CySEC, KNF, CNMV, DFSA, FSC |
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67 | 0.70 pips (var) | / 5 | $100 | FCA, CySEC, ASIC, FSCA, FSC |
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70+ | from 0.2 pips (floating) | / 5 | $0 | FCA, ASIC, DFSA, FMA |
|
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50+ | 1.2 | / 5 | $10 | FSC, FSA |
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
- It’s quick and easy to open a live account – taking less than 2 minutes
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
William Berg, Reviewer
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| GBPUSD Spread | 1.9 |
| EURUSD Spread | 1.6 |
| EURGBP Spread | 1.8 |
| Total Assets | 55+ |
| Leverage | 1:1000 |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
- Accessible trading accounts with a $5 minimum deposit and fast account opening
- Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
Cons
- There is weak regulatory oversight through the global entity
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
PrimeXBT
"PrimeXBT is good for beginners looking to trade crypto derivatives among traditional assets like forex and indices. There's also a proprietary copy trading solution for novices looking to learn from more experienced investors. With that said, the lack of regulation means traders will receive limited safeguards."
PrimeXBT Quick Facts
| Bonus Offer | $100 Deposit Bonus |
|---|---|
| GBPUSD Spread | Variable |
| EURUSD Spread | Variable |
| EURGBP Spread | Variable |
| Total Assets | 45+ |
| Leverage | 1:1000 |
| Platforms | Own |
| Account Currencies | USD, EUR, GBP |
Pros
- Beginners can access a crypto trading Academy with bite-size resources and YouTube videos
- The broker’s platform and app offer advanced charting features, including 50+ technical indicators, a customizable layout and multiple order types including OCO
- The broker offers 24/7 customer support via live chat, as well as an extensive help centre
Cons
- It’s a shame that there are no popular third-party platforms on offer such as MT4
- The total selection of 110+ assets is far fewer than top competitors, including OKX with 400+
- The lack of reputable regulatory oversight is a security concern, though this is common in the crypto trading industry
IQ Option
"IQ Option is a good broker for beginners with a slick platform and low minimum investment. New users can also open an account in three easy steps."
IQ Option Quick Facts
| GBPUSD Spread | 5 pips |
|---|---|
| EURUSD Spread | 14 pips |
| EURGBP Spread | 15 pips |
| Total Assets | 60+ |
| Leverage | 1:500 |
| Platforms | Own |
| Account Currencies | USD, EUR, GBP, ZAR |
Pros
- iOS & Android compatible app
- High payouts on binary options
- Excellent range of payment methods
Cons
- €10 inactivity fee after 90 days
- No MetaTrader 4 integration
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer
IG Quick Facts
| GBPUSD Spread | 0.9 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 0.9 |
| Total Assets | 80+ |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
Cons
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
FXCC
"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "
FXCC Quick Facts
| Bonus Offer | 100% First Deposit Bonus Up To $2000 |
|---|---|
| GBPUSD Spread | 1.0 |
| EURUSD Spread | 0.2 |
| EURGBP Spread | 0.5 |
| Total Assets | 70+ |
| Leverage | 1:500 |
| Platforms | MT4 |
| Account Currencies | USD, EUR, GBP |
Pros
- There are no restrictions on short-term trading strategies like day trading and scalping
- The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
- FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
Cons
- FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
- Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
- While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
XTB
"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "
XTB Quick Facts
| GBPUSD Spread | 1.4 |
|---|---|
| EURUSD Spread | 1.0 |
| EURGBP Spread | 1.4 |
| Total Assets | 70+ |
| Leverage | 1:30 (EU) 1:500 (Global) |
| Platforms | xStation |
| Account Currencies | USD, EUR, GBP, HUF |
Pros
- Opening an XTB account is a hassle-free, entirely online process that takes just a few minutes, making the entry into day trading smooth for new traders.
- The xStation platform continues to impress with its user-friendly interface and intuitive features, including customizable news feeds, sentiment heatmaps, and trader calculator, reducing the learning curve for newer traders.
- XTB has boosted its interest rate on all uninvested balances (up to 5.2%) while competitors like eToro only offer up to 5% on balances of $50K+.
Cons
- XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite.
- XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads.
- Trading fees are competitive with average spreads of around 1 pip on the EUR/USD but still trail the cheapest brokers like IC Markets, plus there's an inactivity fee after 12 months.
Markets.com
"Markets.com is best for active traders looking for a regulated broker with low fees and fast execution speeds of 82ms. Beginners will also enjoy the in-house platform with its user-friendly interface, clear navigation and dynamic charts."
Markets.com Quick Facts
| GBPUSD Spread | 1.3 pips (var) |
|---|---|
| EURUSD Spread | 0.70 pips (var) |
| EURGBP Spread | 1.0 pip (var) |
| Total Assets | 67 |
| Leverage | 1:30 |
| Platforms | Markets.com Web/App Platform, MT4, MT5 |
| Account Currencies | USD, EUR, GBP, ZAR, SEK, NOK, DKK, PLN, CZK, AED |
Pros
- There's good customer support with responses in <1 minute during testing
- There are no deposit/withdrawal charges, account registration or order admin costs
- The $10 inactivity fee is only charged after 12 months of no trading activity (many competitors start charging after only 3 months)
Cons
- Unlike some top competitors like XM, customer support is not available on the weekend
- The single retail account option doesn't offer traders any choice of trading conditions, or any additional perks for active trading
- There are no auto or copy trading terminals outside of the MetaTrader platforms, such as DupliTrade
Axi
"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."
Axi Quick Facts
| GBPUSD Spread | from 0.6 pips (floating) |
|---|---|
| EURUSD Spread | from 0.2 pips (floating) |
| EURGBP Spread | from 0.5 pips (floating) |
| Total Assets | 70+ |
| Leverage | 1:400 |
| Platforms | MT4, AutoChartist |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- The broker’s free trading resources are geared towards short-term traders, including various market calendars and dividend forecast schedules
- The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
- Traders can choose between 10 base account currencies plus a wide range of free deposit methods, including cryptos
Cons
- The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
- The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
- The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
BDSwiss
"BDSwiss will suit active day traders looking for raw pricing, fast execution and powerful trading software with a range of pre-included analysis tools. That said, the range of 250+ assets is smaller than most top competitors."
BDSwiss Quick Facts
| GBPUSD Spread | 1.7 |
|---|---|
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.3 |
| Total Assets | 50+ |
| Leverage | 1:30 |
| Platforms | BDSwiss Webtrader, MT4, MT5 |
| Account Currencies | USD, EUR, GBP, SEK, PLN |
Pros
- BDSwiss maintains its position as a fast execution broker, with speeds averaging 0.06 seconds plus 78.3% zero/positive slippage at the time of writing
- Choice of powerful day trading terminals, including an in-house app with 50+ technical tools, a Trend Analysis feature and an advanced Market Watch window
- The knowledgeable support team is available 24/5 in 20 languages and the live chat service is responsive based on tests
Cons
- The lack of a top-tier regulator like the CySEC or ASIC brings down the trust score a little
- The range of 250+ assets is mediocre compared to most leading brokers which typically offer 1000+
- There's a $30 inactivity fee after 90 days which is higher than several top competitors, including XM which only charges $5
How We Choose Forex Brokers In Zimbabwe
To find the best forex trading platforms in Zimbabwe, there are several factors we, and you, should consider:
Trust
When you trade currencies through an online broker you need to be confident your money is secure.
This is especially important given Zimbabwean news reports of forex Ponzi schemes and managed account fraud. The country’s Reserve Bank has also warned that criminals are conducting illegal forex exchange operations via social media.
That’s why we only recommend forex brokers we trust – a judgement we make by weighing the strength of their regulatory credentials, years in the industry, reputation, and the observations of our hands-on testers.
- Pepperstone continues to demonstrate it’s a highly trusted broker with licenses from top-tier watchdogs, including the FCA in the UK, the CySEC in Europe, and the ASIC in Australia. Also reassuring is its global client base of over 400,000 traders and long track record since 2010.
Currency Pairs
Having access to a wide range of forex assets can help you discover opportunities.
Our analysis shows that not many brokerages offer trading on the Zimbabwean Dollar, which has faced hyperinflation and even been taken out of circulation for periods. However, our top picks offer a wide choice of majors, minors and exotics, providing investors with diverse trading opportunities.
- Forex.com shines with its above-average selection of 80+ forex assets, including the ZAR paired with the USD, GBP, EUR and JPY.
Forex Platforms
If you’re making short-term forex trades, access to a fast, stable and intuitive charting platform is important.
MetaTrader 4 (MT4) continues to dominate the forex scene and is the most widely supported third-party platform by online brokers in Zimbabwe. It’s best for intermediate to advanced traders looking for rich technical analysis features and algo trading.
However, our years in the industry have shown us that the proprietary software provided by some brokers is increasingly strong, often sporting a more modern interface that makes for an attractive entry point for newer traders.
That’s why we favor forex brokers with platforms and apps that will serve forex traders of all levels and strategies, an assessment we make by personally testing software where practical.
Vantage – ProTrader
We also look for tools that offer frequent updates on the most significant global market movements as well as specialized data on regions like Southern Africa.
- Vantage provides Zimbabwean forex traders with a first-rate toolkit that includes a slick bespoke platform and mobile app, plus MT4, MT5, and powerful third-party tools like ZuluTrade’s copy trader and Myfxbook’s automated solution.
Deposit Options
If you plan to make frequent deposits and withdrawals, choosing a forex broker with straightforward and low-cost payment methods is important.
This is especially important for traders in Zimbabwe where cash shortages have been reported and where mobile money and e-wallets are quickly becoming many people’s favored payment methods.
Our highest-rated forex trading platforms support classic card and wire transfers as well as fast and convenient alternatives, such as PayPal and EcoCash via PayNow, allowing you to fund your account with ease from Zimbabwe.
- Pepperstone remains one of the best forex brokers that accepts traders from Zimbabwe with no minimum deposit and convenient funding options like PayPal.
Methodology
We leveraged our extensive database of forex brokers to focus on those accommodating traders in Zimbabwe, ranking them based on an aggregate score derived from critical factors, including:
- Regulation by trusted authorities, if not Zimbabwe’s RBZ then respected watchdogs elsewhere.
- A wide selection of currency pairs, featuring currencies of interest to traders in Zimbabwe, such as ZAR/USD.
- An easy-to-use process for funding accounts, considering popular local methods such as PayPal and EcoCash.
- Advanced yet user-friendly charting tools for capitalizing on forex market opportunities.
FAQ
Is Forex Trading Legal In Zimbabwe?
Forex trading is legal in Zimbabwe. Day traders can sign up with online brokers, either onshore or offshore, to speculate on the price of currency pairs. Make sure to check the latest regulations and tax obligations in Zimbabwe.
Who Regulates Forex Trading In Zimbabwe?
Zimbabwe’s financial regulator is the Reserve Bank of Zimbabwe (RBZ), which oversees all foreign exchange activities in the country.
Because of the Zimbabwean Dollar’s instability in recent years, it’s a good idea to follow the RBZ’s latest announcements to stay updated about any changes to rules and regulations. For example, capital controls have been imposed in efforts to prevent the Zimbabwean Dollar’s slide.
How Much Money Do I Need To Start Forex Trading In Zimbabwe?
The amount of capital you need to begin forex trading in Zimbabwe depends on the broker’s minimum deposit. Although some require US$250 – around Z$80,000 – or more for an initial deposit, others like Pepperstone don’t have any minimum deposit, appealing to beginners.
Article Sources
- Reserve Bank of Zimbabwe (RBZ)
- Quartz - Zimbabwe Cracks Down On Currency Dealers
- PaymentsJournal - Cash Is Scarce in Zimbabwe, As Inflation Spirals
- The Evolution of Mobile Money in Zimbabwe
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com