Choosing the right Forex Broker may literally be what determines the difference between successful trading and utter disaster, and Malawian traders will have to conduct thorough research into brokers before making a choice.

There is a vast amount of brokers out there and finding the right one may be a tedious task with no deposit bonus forex, but in this article, 10 of the best Forex brokers for 2020, specifically for Malawians have been outlined along with their offering and trading conditions

1.   easyMarkets

Based in Cyprus, easyMarkets is a Market Maker broker which was founded in 2001 and is regulated and authorized by CySEC as well as the ASIC.

The minimum deposit to open an account is $100 with commissions from $0 and fixed spreads that start from 1 pip. The maximum leverage traders have access to is 1:400.

easyMarkets provides traders a reliable trading platform namely MetaTrader 4 and its offering consists of financial instruments such as Forex, commodities, cryptocurrency, stocks, shares, and more.

There are two types of accounts that can be opened namely the VIP Web/App Account, and the VIP MT4 Account and provision is made for a demo account.

Funding and withdrawals can be done through a variety of payment methods and an array of deposit currencies are supported.

2.   AvATrade

AvATrade is an award-winning Ireland-Based Market Maker and STP broker regulated by the Bank of Ireland, ASIC, JFSA, and FSA.

The minimum deposit to open an account is $100 with zero commissions charged on trades and a fixed spread from 0.9 pips. The maximum leverage that traders qualify for is 1:400.

Traders have a variety of options in trading platforms such as MetaTrader 4, AvATradeGo, AvAOptions, ZuluTrade, and more. Financial instruments that can be traded include Forex, commodities, stocks, shares, and several more.

AvATrade offers a Standard account for most traders, but for professionals there is the option of a VIP account.

Deposits and withdrawals can be made through a variety of payment methods and a wide variety of deposit currencies are supported.

3.   IC Markets

IC Markets is a well-regulated Australian-based ECN broker which was founded in 2007 and is regulated by ASIC.

The minimum deposit payable when opening an account is $200 with commissions starting from $0 and spreads from 1.0 pips when using the Standard Account, $3.5 commissions are charged on the True ECN Account with spreads from 0.0 pips.

Malawian traders have access to leverage of 1:500 along with use of either MetaTrader 4 or cTrader in addition to a variety of deposit and withdrawal methods, and a range of deposit currencies that are supported.

4.   Oanda

Oanda is a USA-based Market Maker broker that has been in operation since 1989 and is regulated by several regulatory entities such as CFTC, NFA, FCA, MAS, ASIC, and IIROC.

The minimum deposit when opening a Standard Account is $1 with commissions that start from $0 with spreads that start from 1.2 pips and leverage of up to 1:100.

Traders have a choice between MetaTrader 4 and Oanda Platform as their trading platform and there is a variety of payment methods through which funds can be deposited and withdrawn with a range of supported deposit currencies.

5.   FBS

FBS is a Belize-based STP and ECN broker which was founded in 2009 and is regulated by the IFSC and CySEC.

The minimum deposit to open a Cent Account is $1 with zero commissions and floating spreads that start from 1 pip in addition to access to leverage of up to 1:1000.

FBS offers a wide variety of trading accounts apart from the Cent Account, such as a Micro Account, Standard Account, Zero Spread Account, and an ECN Account.

When trading with FBS, traders have access to financial instruments such as Forex, metals, CFDs, stocks, and more. Forex trading can be conducted through either MetaTrader 4 or MetaTrader 5. Funding options are vast in addition to several deposit currencies.

6.   XM

XM, an ECN and STP broker, is based in Australia, Cyprus, Belize, and the UK with regulatory entities such as the ASIC, CySEC, FCA, and IFSC. XM offers trade in Forex, commodities, cryptocurrencies, stocks, shares, indices, and more.

The minimum deposit when opening an account is $5 with commissions starting from $0 and variable spreads from 1.0 pips when using the Micro Account. Traders also have the option of opening a Standard or XM Zero Account.

When trading with XM, traders have access to leverage of up to 1:880 with access to MetaTrader 4 and MetaTrader 5 as trading platforms and a variety of funding and withdrawal options in addition to a variety of supported deposit currencies.

7.   Exness

Exness is a SVG, Cyprus, and UK broker which was founded in 2008 and is regulated by CySEC, FCA and SFSA. When trading through this broker, Malawian traders only have access to Forex trading.

Traders can open a Standard Account with a minimum deposit of $1, providing the trader with leverage up to 1:2000, spreads from 0.3 pips and zero commission charges on trades.

Accounting options also include the Standard Cent Account, Raw Spread Account, Zero Account, and Pro Account. Trading platforms supported are MetaTrader 4 and MetaTrader 5.

Deposits and withdrawals can be done quickly and hassle-free through a variety of payment methods in a variety of deposit currencies.

8.   Alpari

Alpari is a Mauritius-based STP and ECN broker which was founded in 1998 and is strictly regulated by both the FSC and FSA. Alpari offers Malawian traders financial instruments that range from Forex, cryptocurrencies, metals, and CFDs.

The minimum deposit to open an account is $5 with $0 commissions charged on trades, spreads from 1.7 pips and access to leverage up to 1:400 on the Micro Account and 1:1000 on the Standard and ECN Account.

Traders can make use of either MetaTrader 4 or MetaTrader 5 to trade through. There is a wide variety of funding options pertaining to deposits and withdrawals in addition to an array of supported deposit currencies.

9.   InstaForex

Instaforex is a Market Maker broker which is based in Cyprus, SVG, and the British Virgin Islands with regulations and authorization through CySEC, BVI, and SVGFSA.

Malawian traders can trade in financial instruments such as Forex, commodities, cryptocurrency, stocks, shares and more. Leverage of up to 1:1000 is available to traders along with fixed and variable spreads from 3 pips.

Commissions charged start from $0 and traders have a choice between four different types of accounts depending on the Malawian traders needs and objectives.

Traders can make use of either MetaTrader 4 or MetaTrader 5 to trade through. Funding options for deposits and withdrawals are vast in addition to a variety of deposit currencies supported.

 

10.       Admiral Markets

Admiral Markets is a STP and ECN broker which was founded in 2001 and is based in Australia, the UK, Cyprus, and Estonia, with regulatory entities such as ASIC, FCA, EFSA, and CySEC.

The minimum deposit to open an account is $200, and Malawian traders have access to leverage of 1:500 with commissions between $0 – $3 and variable spreads that start from 0.5 pips.

Admiral Markets provides access to MetaTrader 4, MetaTrader 5, and MetaTrader Supreme Edition in addition to a variety of financial instruments which can be traded such as Forex, commodities, cryptocurrencies, stocks, and several others.

There are numerous payment methods supported through which funds can be deposited and withdrawn in addition to a wide variety of supported deposit currencies.

Final Thoughts

Malawian traders have a choice of some of the best, reputable, and well-regulated brokers in the world, and the options are not merely limited to this list.

Malawian traders will have to evaluate and compare different brokers to find one that suits their trading plan, preferences, objectives and needs when trading.