MTrading Botswana Review 2024 - TU expert opinion
Is the Forex market legit in Botswana?
Forex trading is legal for every trader in Botswana. The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) and also the National Bank of Botswana are the country’s regulatory bodies. A legal broker is a broker with a license issued by the country’s financial regulators. Companies must operate in compliance with the requirements of the regulators, otherwise their license may be revoked.
It is recommended to work with brokers that have an office in the territory of Botswana. Every trader must pay taxes in Botswana. Payment of the income tax is mandatory. Legal brokers provide access to Forex trading in Botswana 24/5; the official brokers don’t work on the weekends.
How to Trade Forex in Botswana
It is rather easy to start trading in Botswana. The financial regulator does not require a lot of information. Therefore, the registration is quite simple. Verification may be a requirement of certain brokers, while some companies may not require it.
Our Evaluation of MTrading
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
MTrading is a moderate-risk broker with the TU Overall Score of 5.38 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by MTrading 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.
The brokerage company’s goal is to provide high-quality financial services to both experienced and novice traders. MTrading is constantly evolving to meet all the needs of its clients.
Detailed Review of MTrading in Botswana
MTrading is a good choice for traders from Botswana. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
The MTrading brokerage company was founded in 2012 and provides international financial services. In its first eight years of operation, it has managed to open more than ten offices on four continents. The company has over 250,000 clients globally.
The company was founded in Saint Vincent and the Grenadines and is registered under registration no. 24275 IBC 2017. The broker also guarantees its clients’ deposit protection and insurance in the amount of up to 20,000 euros. Client funds are secured by an independent Financial Commission.
MTrading by the numbers:
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1:1000 is the maximum leverage;
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4 is the number of continents where MTrading offers its services;
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$4 is the maximum amount of the trading fee;
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8 years of providing quality services;
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more than 10 offices located in different parts of the world;
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100+ trading assets;
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over 5,000 referral program participants from various countries;
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20,000 euros is the maximum amount of insurance for each client’s deposit;
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more than 250,000 satisfied clients worldwide.
Advantages of MTrading for trading in Botswana
Traders Union analysts conducted a detailed analysis of MTrading for traders from Botswana. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
narrow spreads from 0.1 pips;
large leverage of up to 1:1000;
several deposit and withdrawal options;
fast processing of orders;
more than 100 trading assets, including currency pairs, stocks, indexes, precious metals, and commodities;
high-quality education program for novice traders;
access to in-depth analytics and the latest news on the foreign exchange market;
the ability to use automated trading programs;
24-hour multilingual client support service;
providing clients with MT4, the proven trading platform;
author’s application for mobile trading;
availability of investment programs for passive trading;
client funds are reliably protected and insured up to a maximum of 20,000 euros.
Analysis of the Main Features of MTrading in Botswana
Traders Union analysts analyzed the key features of MTrading for traders from Botswana. 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 MTrading traders from Botswana
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of MTrading trading conditions for traders from Botswana. 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, MT4 Multiterminal, MT4 Supreme Edition, MT4 Web Trader
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📊 Accounts: |
Demo, M.Premium, M.Pro
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💰 Account currency: |
EUR, USD, and RUB
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💵 Replenishment / Withdrawal: |
Visa, MasterCard; EPS: WebMoney, Qiwi, Skrill, Perfect Money, Neteller, AstroPay, Alfa-Bank, manual operation, NganLuong.vn, prepaid card, wire transfers
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🚀 Minimum deposit: |
$100
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⚖️ Leverage: |
From 1:25 to 1:1000
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01 lots
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💱 Spread: |
From 0.0 pips
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🔧 Instruments: |
Currency pairs, CFDs on stocks, indexes, commodities, energies, precious metals
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💹 Margin Call / Stop Out: |
100% / 30%
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🏛 Liquidity provider: |
-
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📱 Mobile trading: |
The author’s MTrading app (Android)
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Market Execution
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⭐ Trading features: |
Automatic trading; Web Trader; Investment programs for passive trading.
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🎁 Contests and bonuses: |
Yes
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MTrading Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by MTrading for traders from Botswana. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Traders Union experts examined MTrading for the presence of trading and non-trading fees. The broker’s spread is considered a trading fee, while an additional fee for withdrawing personal funds or depositing funds into the account is considered a non-trading fee.
Account type | Spread (minimum value) | Withdrawal commission |
M.Premium | $0 | No |
M.Pro | $4 | No |
TU experts also examined and compared MTrading broker trading fees to those of its competitors RoboForex and PocketOption. Broker trading fees were divided into three categories based on the results: low, medium, and high.
FAQs
Is MTrading legal in Botswana?
Yes. MTrading operates legally in Botswana. The broker holds the necessary licenses.
Can you learn trading with MTrading? Does the broker offer courses for traders from Botswana?
Yes, MTrading offers good trading courses and a lot of educational information for clients from Botswana.
Can MTrading be trusted? Has the broker been operating in Botswana long?
MTrading has been operating in Botswana quite long and has a good reputation. Therefore, traders can work with MTrading.
Is MTrading suitable for novice traders from Botswana?
Yes. MTrading offers optimal trading conditions and good education for beginners from Botswana.
How efficient is MTrading customer support in Botswana?
MTrading offers a sufficient number of ways to contact customer support in Botswana, and also provides support in the state language.
Has MTrading had any incidents involving theft of funds of clients from Botswana?
No. MTrading provides reliable security of funds of clients from Botswana.
Will I be able to file a lawsuit in Botswana if MTrading violates my rights?
Yes. If MTrading violates your rights, you can file a complaint with the regulator of Botswana, and then with a court.
Can MTrading clients from Botswana use the broker’s mobile app?
Yes. The mobile app of MTrading is available for the clients from Botswana.
Does MTrading provide Botswana market analysis?
Analysis of Botswana is featured in the information provided by MTrading.
How can I withdraw funds from my account at MTrading in Botswana?
MTrading supports bank transfers and debit/credit cards of the banks operating in Botswana.
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.