GANN Markets Tanzania Review 2024 - TU expert opinion
Is the Forex market legit in Tanzania?
Forex trading is legal in Tanzania. Residents and non-residents of the country can trade. A broker with the license of the Bank of Tanzania, the local financial regulator, is considered legal. The regulator supervises financial organizations and oversees their compliance with the law.
It is important to trade with the locally regulated brokers, because the Bank of Tanzania prohibits the residents of the country to open and maintain accounts outside the country. The exception is settlements on securities. Brokers that operate in Tanzania officially must support the country’s national currency – Tanzanian Shilling.
How to Trade Forex in Tanzania
It is rather easy to start trading in Tanzania. You need to register with a broker and verify your account. Verification implies uploading your identification document. Once the verification is complete, you can fund your account and start trading.
Our Evaluation of GANN Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
GANN Markets is a moderate-risk broker with the TU Overall Score of 5.34 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by GANN Markets clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Gann Markets is a broker for CFD trading. It is the perfect choice for experienced traders who prefer to work in the MT4 terminal with ECN technology.
Detailed Review of GANN Markets in Tanzania
GANN Markets is a good choice for traders from Tanzania. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
Gann Markets is a young CFD broker with a customer-oriented approach. It offers accounts with instant and market order execution, low floating spreads, and leverage up to 1:400. Security of deposits is guaranteed by the Financial Commission, and Gann Markets' cooperation with large liquidity providers ensures execution at the best prices. The broker doesn’t prohibit the use of strategies for passive income and constantly expands the range of available bonuses.
Gann Markets' success by the numbers:
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Allows access to trade 90+ Forex pairs.
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Supports over 300 payment methods.
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Has 6 international awards.
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Processes a request to open an account within 3 minutes.
Advantages of GANN Markets for trading in Tanzania
Traders Union analysts conducted a detailed analysis of GANN Markets for traders from Tanzania. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
Easy and quick online account opening.
Many available ways to deposit and withdraw funds.
Support is active around the clock during trading sessions.
Daily update of news feed on the site.
Access to copy trades of successful market participants.
The broker doesn’t withhold fees for deposits or withdrawals, account maintenance, or software. Clients pay only trading commissions.
Analysis of the Main Features of GANN Markets in Tanzania
Traders Union analysts analyzed the key features of GANN Markets for traders from Tanzania. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for GANN Markets traders from Tanzania
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of GANN Markets trading conditions for traders from Tanzania. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MetaTrader 4 (Windows, MAC, Android, iOS)
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📊 Accounts: |
Demo account, Standard account, ECN account, Standard Swap-free account, ECN Swap-free account
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💰 Account currency: |
USD
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💵 Replenishment / Withdrawal: |
Cards local, cards international, eWallet, bank transfer, prepayment, internet banking, cash (Western Union, Express de Lider, 7 Eleven, etc.)
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🚀 Minimum deposit: |
From USD 100 + Leverage
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⚖️ Leverage: |
Up to 1:400
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💼 PAMM-accounts: |
No
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📈️ Min Order: |
0.01
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💱 Spread: |
From 0.7 pips (Standard account), from 0.1 pips (ECN account)
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🔧 Instruments: |
Currency pairs, stocks, CFDs, indices, commodities, cryptocurrencies
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💹 Margin Call / Stop Out: |
100% / 20%
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🏛 Liquidity provider: |
No data
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📱 Mobile trading: |
Yes
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Instant execution (Standard account), Market execution (ECN account)
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⭐ Trading features: |
There is a fee for inactivity and advisors. Scalping and hedging are allowed.
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🎁 Contests and bonuses: |
Yes
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GANN Markets Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by GANN Markets for traders from Tanzania. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Trading commissions at Gann Markets differ depending on the account type and financial instrument. The broker holds spreads on Standard accounts, from 0.7 pips on EUR/USD. ECN accounts have almost zero minimum spread (from 0.1 pip), but there is a commission of $7-10 per lot. The exact amount depends not only on the asset traded but also on the initial deposit amount. If the client account remains inactive for over 100 calendar days, Gann Markets deducts an account maintenance fee of 10 USD/9 EUR/700 RUB per month. The broker doesn’t charge a fee for deposits or withdrawals.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | from $7 | Accrued by banks and payment systems |
ECN | from $1 | Accrued by banks and payment systems |
There is a swap fee — commission for shifting transactions to the next day.
We also compared the size of the average trading commission of Gann Markets with the fees of other Forex brokers. See the data in the table below.
FAQs
Is GANN Markets legal in Tanzania?
Yes. GANN Markets operates legally in Tanzania. The broker holds the necessary licenses.
Can you learn trading with GANN Markets? Does the broker offer courses for traders from Tanzania?
Yes, GANN Markets offers good trading courses and a lot of educational information for clients from Tanzania.
Can GANN Markets be trusted? Has the broker been operating in Tanzania long?
GANN Markets has been operating in Tanzania quite long and has a good reputation. Therefore, traders can work with GANN Markets.
Is GANN Markets suitable for novice traders from Tanzania?
Yes. GANN Markets offers optimal trading conditions and good education for beginners from Tanzania.
How efficient is GANN Markets customer support in Tanzania?
GANN Markets offers a sufficient number of ways to contact customer support in Tanzania, and also provides support in the state language.
Has GANN Markets had any incidents involving theft of funds of clients from Tanzania?
No. GANN Markets provides reliable security of funds of clients from Tanzania.
Will I be able to file a lawsuit in Tanzania if GANN Markets violates my rights?
Yes. If GANN Markets violates your rights, you can file a complaint with the regulator of Tanzania, and then with a court.
Can GANN Markets clients from Tanzania use the broker’s mobile app?
Yes. The mobile app of GANN Markets is available for the clients from Tanzania.
Does GANN Markets provide Tanzania market analysis?
Analysis of Tanzania is featured in the information provided by GANN Markets.
How can I withdraw funds from my account at GANN Markets in Tanzania?
GANN Markets supports bank transfers and debit/credit cards of the banks operating in Tanzania.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.