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Best Forex Brokers In Namibia 2025

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Written By
Michael MacKenzie
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Written By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
» Michael MacKenzie Profile Page
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Edited By
William Berg
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Edited By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
» William Berg Profile Page
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Fact Checked By
James Barra
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Fact Checked By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Oct 9, 2024

To trade currencies in Namibia, you need to open an account with a forex broker. The Namibia Financial Institutions Supervisory Authority (NAMFISA) oversees forex trading in the country, but it’s not as active or respected as many financial regulators.

As a result, some residents choose to sign up with trusted international brokers that offer superior platforms, tools, and fees. Since Namibia has close ties to South Africa and the Namibian Dollar (NAD) is pegged 1:1 with the South African Rand (ZAR), Namibian traders may also prefer brokers with ZAR accounts that offer trading on the Rand.

Discover the best forex brokers in Namibia. Every broker listed accepts traders from Namibia.

Top 10 Forex Brokers in Namibia

We've leveraged our database of 216 brokers to identify the top forex trading platforms for residents in Namibia:

Click a broker for details
  1. 1
    XM
    $30 No Deposit Bonus When You Register A Real Account
    Ratings
    3.8 / 5
    4.3 / 5
    4 / 5
    4 / 5
    3.8 / 5
    4.8 / 5
    4.3 / 5
    4.3 / 5
    4.7 / 5
    3.9 / 5
    $5
    0.01 Lots
    1:1000
    ASIC, CySEC, DFSA, IFSC
    CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies
    MT4, MT5, TradingCentral
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, JPY
    Go To XM
  2. 2
    Vantage
    50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
    Ratings
    4.6 / 5
    4.5 / 5
    4.5 / 5
    4.4 / 5
    4.3 / 5
    4.4 / 5
    4 / 5
    4 / 5
    3.6 / 5
    3.9 / 5
    $50
    0.01 Lots
    1:500
    FCA, ASIC, FSCA, VFSC
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
    ProTrader, MT4, MT5, TradingView, DupliTrade
    Skrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPay, Sticpay, Bitwallet, Volet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN
    Go To Vantage
  3. 3
    IC Markets
    Ratings
    4.6 / 5
    4 / 5
    3.5 / 5
    4.6 / 5
    4 / 5
    4.5 / 5
    4 / 5
    3.5 / 5
    3.1 / 5
    4.2 / 5
    $200
    0.01 Lots
    1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
    ASIC, CySEC, FSA, CMA
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
    MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
    PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To IC Markets
  4. 4
    AvaTrade
    20% Welcome Bonus up to $10,000
    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
    Go To AvaTrade
  5. 5
    FOREX.com
    20% Welcome Bonus Up To $5000
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:400
    NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
    Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  6. 6
    Pepperstone
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.8% of retail investor accounts lose money when trading CFDs.
    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill, PIX Payment, Apple Pay, Google Wallet
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To Pepperstone
  7. 7
    Eightcap
    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3.5 / 5
    4.8 / 5
    4.4 / 5
    $100
    0.01 Lots
    1:500
    ASIC, FCA, CySEC, SCB
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
    Go To Eightcap
  8. 8
    PrimeXBT
    $100 Deposit Bonus
    Ratings
    2.8 / 5
    3.3 / 5
    4 / 5
    4 / 5
    3.8 / 5
    3.5 / 5
    3.5 / 5
    3.5 / 5
    0 / 5
    0 / 5
    $0
    0.01 Lots
    1:1000
    CFDs, Cryptos, Forex, Indices, Commodities, Futures
    Own
    Bitcoin Payments, Ethereum Payments, Credit Card, Debit Card
    USD, EUR, GBP
    Go To PrimeXBT
  9. 9
    IQ Option
    RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
    Ratings
    3 / 5
    3 / 5
    3.5 / 5
    3 / 5
    3.3 / 5
    3 / 5
    0.8 / 5
    2.5 / 5
    4.3 / 5
    4.2 / 5
    $10
    0.001 Lots
    1:500
    CFD, Forex, Crypto, Stocks, Digital Options
    Own
    Skrill, Yandex Money, QIWI, Wire Transfer, Alipay, Perfect Money, MoneyGram, Credit Card, Vietcombank Transfer, Volet, Maestro, Sofort, GlobePay, Boleto
    USD, EUR, GBP, ZAR
    Go To IQ Option
  10. 10
    FxPro
    Ratings
    4.4 / 5
    3.8 / 5
    4 / 5
    4 / 5
    4.3 / 5
    4 / 5
    4 / 5
    4 / 5
    4.7 / 5
    4.3 / 5
    $100
    0.01 Lots
    1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
    FCA, CySEC, FSCA, SCB, FSA
    CFDs, Forex, Stocks, Indices, Commodities, Futures
    FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
    Wire Transfer, Credit Card, PayPal, Skrill, Neteller, Maestro, Mastercard, Visa, Google Wallet, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN
    Go To FxPro

Here is a summary of why we recommend these brokers:

  1. 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.
  2. 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.
  3. 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.
  4. 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'.
  5. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
  6. 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.
  7. 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.
  8. PrimeXBT - PrimeXBT offers forex trading on over 50 majors, minors and exotics with margin opportunities and zero commissions. The forex platform is fast, reliable and feature-rich based on our latest tests with 3 charts, 10 timeframes, and 91 technical studies - ideal for active trading strategies.
  9. 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.
  10. FxPro - FxPro offers 70+ currency pairs but no minors and stands out with its ultra-fast execution speeds and tight spreads averaging 0.45 pips on EUR/USD. Forex traders can also build test and deploy short-term trading strategies on the industry-leading MT4 software, with expert advisors (EAs) for algo trading.

Best Forex Brokers In Namibia 2025 Comparison

Best Forex Brokers In Namibia 2025 Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator
XM logo
55+ 0.8 4.7 / 5 $5 ASIC, CySEC, DFSA, IFSC
Vantage logo
55+ 0.0 4 / 5 $50 FCA, ASIC, FSCA, VFSC
IC Markets logo
75 0.02 4.8 / 5 $200 ASIC, CySEC, FSA, CMA
AvaTrade logo
50+ 0.9 4.3 / 5 $100 ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
FOREX.com logo
80+ 1.2 4.9 / 5 $100 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
Pepperstone logo
100+ 0.1 4.7 / 5 $0 FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
Eightcap logo
50+ 0.0 3.6 / 5 $100 ASIC, FCA, CySEC, SCB
PrimeXBT logo
45+ 0.1 3 / 5 $0 -
IQ Option logo
60+ 14 pips 4.5 / 5 $10 -
FxPro logo
70+ 0.45 2.5 / 5 $100 FCA, CySEC, FSCA, SCB, FSA

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 Spread0.8
EURUSD Spread0.8
EURGBP Spread1.5
Total Assets55+
Leverage1:1000
PlatformsMT4, MT5, TradingCentral
Account CurrenciesUSD, 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.
  • XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
  • 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.
Visit XM
XM Review

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."

Jemma Grist, Reviewer

Vantage Quick Facts

Bonus Offer50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
GBPUSD Spread0.5
EURUSD Spread0.0
EURGBP Spread0.5
Total Assets55+
Leverage1:500
PlatformsProTrader, MT4, MT5, TradingView, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN

Pros

  • There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
  • The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
  • The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side

Cons

  • A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
  • 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
Visit Vantage
Vantage Review

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."

Christian Harris, Reviewer

IC Markets Quick Facts

GBPUSD Spread0.23
EURUSD Spread0.02
EURGBP Spread0.27
Total Assets75
Leverage1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
PlatformsMT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • 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 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

  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
Visit IC Markets
IC Markets Review

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."

Jemma Grist, Reviewer

AvaTrade Quick Facts

Bonus Offer20% Welcome Bonus up to $10,000
GBPUSD Spread1.5
EURUSD Spread0.9
EURGBP Spread1.5
Total Assets50+
Leverage1:30 (Retail) 1:400 (Pro)
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
  • 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.
  • 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.

Cons

  • AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
  • 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.
  • 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.
Visit AvaTrade
AvaTrade Review

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus Offer20% Welcome Bonus Up To $5000
GBPUSD Spread1.3
EURUSD Spread1.2
EURGBP Spread1.4
Total Assets80+
Leverage1:400
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Visit FOREX.com
FOREX.com Review

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."

Christian Harris, Reviewer

Pepperstone Quick Facts

GBPUSD Spread0.4
EURUSD Spread0.1
EURGBP Spread0.4
Total Assets100+
Leverage1:30 (Retail), 1:500 (Pro)
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.

Cons

  • 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.
  • 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.
Visit Pepperstone
Pepperstone Review

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."

Christian Harris, Reviewer

Eightcap Quick Facts

GBPUSD Spread0.1
EURUSD Spread0.0
EURGBP Spread0.1
Total Assets50+
Leverage1:500
PlatformsMT4, MT5, TradingView
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • 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.
  • 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.

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.
  • Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
Visit Eightcap
Eightcap Review

PrimeXBT

"PrimeXBT is perfect for aspiring traders looking for crypto derivatives alongside traditional markets like forex and indices, all tradable on an intuitive, web-based platform. The copy trading solution is also ideal for hands-off traders with 5-star ratings and performance graphs to help you find the right trader."

William Berg, Reviewer

PrimeXBT Quick Facts

Bonus Offer$100 Deposit Bonus
GBPUSD SpreadVariable
EURUSD Spread0.1
EURGBP SpreadVariable
Total Assets45+
Leverage1:1000
PlatformsOwn
Account CurrenciesUSD, EUR, GBP

Pros

  • 24/7 customer support, available via live chat, proved excellent during testing, while the extensive help centre is perfect for self-help.
  • Maker and taker fees of at 0.01% and 0.02%, respectively, for crypto futures contracts are highly competitive within the industry.
  • PrimeXBT has added fresh opportunities with new tokens for exchanging and funding, including 1Inch, Aave, and Injective.

Cons

  • While common in the crypto industry, PrimeXBT lacks authorization from a trusted regulator, seriously elevating the risk for retail traders.
  • Despite improvements, the selection of around 100+ instruments still seriously trails competitors, notably OKX with its 400+ assets.
  • The lack of integration with established platforms like MT4 will be limiting for traders familiar with the world’s most popular forex trading software.
Visit PrimeXBT
PrimeXBT Review

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."

William Berg, Reviewer

IQ Option Quick Facts

GBPUSD Spread5 pips
EURUSD Spread14 pips
EURGBP Spread15 pips
Total Assets60+
Leverage1:500
PlatformsOwn
Account CurrenciesUSD, EUR, GBP, ZAR

Pros

  • High payouts on binary options
  • User-friendly platform for beginners
  • Reliable 24/7 multilingual support

Cons

  • €10 inactivity fee after 90 days
  • No MetaTrader 4 integration
Visit IQ Option
IQ Option Review

FxPro

"FxPro is a stellar option for day traders, sporting exceptionally fast execution speeds under 12ms, competitive fees that were lowered in 2022, and terrific charting platforms in MT4, MT5, cTrader and FxPro Edge."

Christian Harris, Reviewer

FxPro Quick Facts

GBPUSD Spread0.6
EURUSD Spread0.45
EURGBP Spread0.73
Total Assets70+
Leverage1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
PlatformsFxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN

Pros

  • FxPro's Wallet is a standout feature that allows traders to manage funds securely. By segregating unused funds from active trading accounts, the Wallet provides additional protection and convenience.
  • FxPro operates under a 'No Dealing Desk' (NDD) model, ensuring fast and transparent order execution, often under 12 milliseconds, ideal for short-term trading strategies.
  • FxPro offers four reliable charting platforms, notably the intuitive FxPro Edge, with over 50 indicators, 7 chart types and 15 chart timeframes.

Cons

  • While FxPro provides 24/5 customer support through multiple channels that performed well during testing, it lacks 24/7 availability, which can disadvantage traders needing assistance outside traditional market hours.
  • Despite a growing Knowledge Hub and a $10M funded demo account, FxPro is geared towards advanced traders, with beginners potentially finding the account and fee structure complex.
  • There are no passive investment tools like copy trading or interest paid on cash. While active traders may not miss these, competitors like eToro catering to active and passive investors have more comprehensive offerings.
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How We Rate Forex Brokers In Namibia

These are the key factors that mark out a forex broker among the best in Namibia:

Trust

Opening an account with a trusted broker will help protect you from forex scams, which Namibia’s Financial Intelligence Centre has reported are on the rise in recent years.

The best indicator of a trustworthy broker is regulation by a top-tier authority, preferably in the country you reside. Forex trading is not prohibited in Namibia, but the NAMFISA is not an active regulator, and there is a limited pool of locally registered firms from which to choose.

With this in mind, Namibian traders may prefer a global broker that is overseen by a top-tier regulator, such as the Australian Securities & Investments Commission (ASIC) or the UK Financial Conduct Authority (FCA). These bodies require compliance with strict rules on business practices, transparency and reporting to obtain a license.

Forex traders in Namibia may also prefer a brokerage regulated by South Africa’s Financial Sector Conduct Authority (FSCA) since this is a leading regional regulator. Make sure to check your local tax obligations.
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Michael MacKenzie
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  • Year after year, XM demonstrates that it’s a highly trusted broker with over 10 million clients from more than 190 countries and authorization from respected regulators, including the FSCA, ASIC and CySEC. 

Currency Pairs

Picking a forex broker with a wide range of currency pairs will help provide diverse trading opportunities.

The Namibian Dollar (NAD) is not widely traded or supported by online brokers. However, it is pegged 1:1 with the South African Rand (ZAR) because Namibia is part of the Common Monetary Area (CMA).

The ZAR is heavily traded and features high volatility, making it an attractive option for short-term traders in Namibia looking to speculate on regional patterns.

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Use risk management tools like stop-loss orders while trading highly volatile currencies to minimize your exposure.

Our recommended brokers offer a strong selection of major, minor and exotic currency pairs, typically 40+, including exposure to forex assets that will appeal to traders in Namibia.

  • FOREX.com excels for its above-average selection of 80+ currency pairs, with exposure to four forex assets that include the ZAR: EUR/ZAR, GBP/ZAR, USD/ZAR, ZAR/JPY. 

Pricing

Opting for a low-cost forex broker will help you maximize gains.

One important consideration for forex traders in Namibia is that spreads on African currencies, such as the ZAR, tend to be wider than the most heavily traded forex assets, such as the EUR/USD. This is because they are traded in lower volumes, leading to greater volatility and ultimately making it harder to turn a profit.

XM trading conditions for African forex pairs
XM Trading Conditions

We recommend forex trading platforms that provide good value – balancing low fees with high-quality tools, an assessment we make by analyzing spreads, commissions and non-trading fees.

  • IC Markets continues to stand out as one of the lowest-cost forex brokers. We’ve personally traded at this broker, and its raw spreads from zero, coupled with the rebate scheme for high-volume traders, make it an excellent option for advanced day traders in particular.

Forex Platforms

Having access to a powerful platform can significantly improve your forex trading experience. It provides the tools you need to identify and capitalize on trading opportunities.

It’s also important that the platform is intuitive. That’s why we test countless trading platforms each year to see how they perform in terms of usability and functionality.

Still, our many years in the forex industry have also taught us that platform choice is personal. Beginners, for example, may prefer a streamlined, web-accessible solution with integrated social trading capabilities, while seasoned day traders may opt for third-party solutions like MetaTrader 4, MetaTrader 5 or cTrader, seeking advanced charting features and algo trading.

ZAR/JPY chart on cTrader
cTrader Platform
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Use a demo account to test a forex trading platform before risking funds. You can get a feel for the workspace, investigate the tools available, and trial day trading strategies.
  • FxPro offers reliable third-party software like MT4 and cTrader, but we especially rate its in-house software with its clean design, over 50 indicators, 6 chart types, plus 15 timeframes catering to short-term traders.

Account Funding

Signing up with a forex broker that offers hassle-free deposits to your account will help ensure a smooth trading experience.

This can be more complicated in Namibia as some common payment methods are restricted – PayPal accounts, for example, can only send money in the country as withdrawals are restricted.

That’s why we favor forex trading platforms in Namibia that support a choice of funding solutions, from local wire transfers to bank cards and electronic wallets.

We also check firms have a low minimum deposit, ensuring budget traders can open an account. Our in-depth analysis of 216 brokers shows that the vast majority of top firms require between 0 and 250 USD, equivalent to roughly 0 and 5,000 NAD.

  • Pepperstone is a first-rate forex broker that shines for its $0 minimum deposit, low-cost transfers and selection of convenient funding solutions, including wire transfers and bank cards.

Methodology

To compile a list of the best forex brokers in Namibia, our experts considered several criteria:

  • We checked to see if the forex broker accepts traders in Namibia.
  • We picked forex brokers we trust after verifying their regulatory credentials and track record.
  • We prioritized firms with a great range of currency pairs, including those with exposure to African countries.
  • We ensured the charting platforms were user-friendly and suitable for day traders, following hands-on tests.
  • We chose forex trading platforms with great pricing for beginners through to advanced day traders.
  • We selected forex brokers with accessible deposits, including options for Namibian traders.

DayTrading.com broker testing methodology overview

FAQ

Yes, forex trading is legal in Namibia.

Who Regulates Forex Trading In Namibia?

The Namibia Financial Institutions Supervisory Authority (NAMFISA) regulates the country’s financial activities, including forex trading. The Bank of Namibia (BoN) also oversees related fields, such as payment providers.

How Much Money Do I Need To Start Forex Trading In Namibia?

The amount you need to start trading forex in Namibia depends on the minimum deposit of the broker you sign up with – some need 250 USD, equivalent to around 5000 NAD, or more to get started, while others have low or even no threshold, notably Pepperstone.

Article Sources

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