Traders Union (TU) analysts have prepared a comparative analysis of the best brokers Zambia in 2024. Experts performed the analysis taking into account the specifics of trading in the country. In their evaluation, TU experts use over 100 criteria that are split into groups. They have collected all the necessary data providing a possibility for novice traders from Zambia to give an unbiased evaluation to a broker. Using this information, a user can choose the company that meets his criteria.
The Most Reliable Brokers Zambia by TU include the following:
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
Vantage Markets is a broker that is a real catch for traders who prefer ECN trading.
Pepperstone is particularly suitable for novice market participants as well as more seasoned trading professionals. In general, the Pepperstone platform offers everything novice traders need for comfortable trading such as favorable conditions, reliability, a wide selection of trading options, along with an assortment of first rate educational materials.
FreshForex is a reliable Forex broker providing a standard set of trading tools. The company is a good option for traders of all levels, from beginner to professional traders. It is mid-range in terms of size and number of registered traders and they are reliable based on our research and analysis.
Best forex brokers for beginners in Zambia in 2024
| RoboForex | Exness | Vantage Markets | Pepperstone | FreshForex | |
|---|---|---|---|---|---|
Trading platform |
МТ4, МТ5, R StocksTrader, R MobileTrader, R WebTrader |
MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile) |
Vantage Markets app, МТ4 (desktop, mobile, web), МТ5 (desktop, mobile), WebTrader, ProTrader |
cTrader, TradingView, MetaTrader 4 and MetaTrader 5 |
МТ4, МТ5 |
Min deposit |
$10 |
$10 |
$50 |
$1 |
$0 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Accrual of % on the balance |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 0.0 points |
From 1.0 points |
From 0.0 points |
From 0.0 points |
From 0.0 points |
Level of margin call / stop out |
60% / 40% |
0% / 60% |
100% / 50% |
90% / 20% |
40% / 20% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
No |
No |
No |
$30 |
Cent accounts |
Yes |
No |
No |
No |
Yes |
There are certain specifics in trading, which novice traders residing in the territory of Zambia need to know about:
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Novice traders need educational courses. The bigger the educational blocks, the more useful knowledge you will gain.
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Take notice of the availability of a demo account or a cent account. Traders can use these accounts to practice without considerable costs. A demo account allows you to work with virtual money, and a cent account - with micro lots, where your profit or loss amounts to just several dollars or even cents.
-
When choosing a broker, it is important to evaluate its fees schedule. Novice traders should check out the fees on cent or basic accounts.
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If a novice trader professes Islam, he needs to make sure that an Islamic account is available. it is a special swap-free account that does not violate the Sharia law.
1
Best Forex broker for beginners in Zambia - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders from Zambia:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders from Zambia:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
RoboForex Commissions & Fees for traders from Zambia
RoboForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Zambia, you can learn about their rates depending on the account type.
RoboForex Commissions and Fees in Zambia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Pro |
$13 |
No |
Pro-Cent |
$13 |
No |
ECN |
$3 |
No |
Prime |
$1 |
No |
2
Best Forex broker for beginners in Zambia - Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders from Zambia:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders from Zambia:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
Exness Commissions & Fees for traders from Zambia
Exness charges trading fees. The fees are charged as the spread. In the fees review for traders from Zambia, you can learn about their rates depending on the account type.
Exness Commissions and Fees in Zambia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard Cent |
$0.3 |
No |
Standard |
$3 |
No |
Standard Plus |
$10 |
No |
Raw Spread |
$0 |
No |
Zero |
$0 |
No |
Pro |
$1 |
No |
3
Best Forex broker for beginners in Zambia - Vantage Markets
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
👍 Advantages of trading with Vantage Markets for traders from Zambia:
•A vast array of trading instruments like 1000+ currency pairs and contracts for difference (CFDs).
•The broker has licenses from four reputable regulators.
•Classic trading terminals and a proprietary mobile application.
•An extensive array of trading signals to choose from for traders, regardless of the type of trading account.
👎 Disadvantages of Vantage Markets for traders from Zambia:
•Customers from most countries are forced to cooperate with a branch that has an offshore license.
•Limited training and a lack of information on Forex trading.
•Snail-paced withdrawal of funds with the requirement to comply with special conditions.
Vantage Markets Commissions & Fees for traders from Zambia
Vantage Markets charges trading fees. The fees are charged as the spread. In the fees review for traders from Zambia, you can learn about their rates depending on the account type.
Vantage Markets Commissions and Fees in Zambia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard STP |
From $0 |
No |
RAW ECN |
From $3 |
No |
Pro ECN |
From $1.5 |
No |
Swap Free |
From $0 |
No |
4
Best Forex broker for beginners in Zambia - Pepperstone
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia,
by professional traders who were not satisfied with the quality of services provided by most brokers. The founders
decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders,
etc. The founders therefore focused on improving the technical component. The company has set itself the goal of
changing the “rules of the game” and setting the bar high for online trading.
Today, Pepperstone offers clients all over the world some of the best technological solutions and favorable trading
conditions. The company also provides professional tools that help traders not only master the fine art of trading,
but also significantly increase trading efficiencies. In addition, Pepperstone’s platform is scrutinized by seven
regulatory authorities, including ASIC (Australian Securities and
Investments Commission, AFSL No.414530), FCA (UK Financial
Conduct Authority, 684312), DFSA
(F004356), BaFin (151148), CMA (128), SCB
(SIA-F217), and CySec (388/20). Moreover,
with Pepperstone, clients' assets are maintained in aggregated accounts with several major, global banking
institutions. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
👍 Advantages of trading with Pepperstone for traders from Zambia:
•Attractive trading conditions;
•Fast order execution - 30 ms on average;
•1,200+ trading instruments;
•Low fees; and
•No inactivity fee.
👎 Disadvantages of Pepperstone for traders from Zambia:
•Support service works only 24/5;
•No cent account;
•Not available to US clients;
•Limited passive trading opportunities;
•Limited analytical materials available on the site. The only way to resolve this issue is to connect to trading signals;
•No news section; and
•Demo accounts can only trade for free for one month only.
Pepperstone Commissions & Fees for traders from Zambia
Pepperstone charges trading fees. The fees are charged as the spread. In the fees review for traders from Zambia, you can learn about their rates depending on the account type.
Pepperstone Commissions and Fees in Zambia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Razor |
From $0 |
No |
Standard |
From $1 |
No |
5
Best Forex broker for beginners in Zambia - FreshForex
FreshForex offers more than 270 assets for trading, including Forex, CFDs on stocks, precious metals, energy, indices, and cryptocurrencies.
FreshForex boasts attractive trading conditions with spreads from 0 pips and leverage up to 1:2000. There are several account types - Classic, Market Pro, and ECN - catering to different trader levels and preferences. Traders can start with a minimum deposit of just $10, though higher deposits are recommended for certain accounts.
While lacking a top-tier regulatory license, FreshForex has built a reputation through 19 years of operation with over 20 international awards for its trading conditions and services. The broker aims to provide flexible, low-cost trading options across multiple asset classes.
👍 Advantages of trading with FreshForex for traders from Zambia:
•favorable trading conditions;
•work with the liquidity providers having a European license;
•130 instruments for trading: Forex instruments, CFDs on precious metals, energy products, and indices, as well as corporate shares;
•spreads from 0 pips;
•the ability to replenish the account and withdraw funds quickly;
•bonuses and offers;
•easy to use the software that is available on your desktop computer, laptop, tablet, or smartphone.
👎 Disadvantages of FreshForex for traders from Zambia:
•customer service works 24 hours although not on weekends;
•no cryptocurrency for trading;
•no investment programs;
•access to the affiliate group is not available via the Traders Union.
FreshForex Commissions & Fees for traders from Zambia
FreshForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Zambia, you can learn about their rates depending on the account type.
FreshForex Commissions and Fees in Zambia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
ECN |
From $0 |
Yes |
Classic |
From $20 |
Yes |
Pro |
From $9 |
Yes |
Fees and Commissions
When choosing a broker, it is very important to evaluated the structure of its fees. The fees are the main source of income for brokerage companies.
The brokers usually charge two finds of fees: spread and lot fee.
Spread is more popular than the lot fee. However, the type of fee depends on the trading account. Make sure you review the conditions.
The lowest spreads are always found on ECN accounts. Availability of such account types is an important advantage for any broker.
The type of fees can depend on your trading strategy, but a detailed calculation needs to be performed anyway.
The fees charged by brokers often vary depending on the trading account type and also the instruments a trader works with. The higher the popularity and liquidity of certain instruments, the narrower the spreads or the lower the fees per lot.
Summary
Choosing the right broker is not a simple task for new traders in Zambia, as they have to take into account many nuances. Each of those could considerably impact your trading successes or your profit. Trading instruments that the broker offers traders from Zambia, trading conditions and the quality of educational materials need to be evaluated. Availability of a demo account or a cent account you can use to practice is an important advantage. Keep in mind that before opening a position, you need to assess its risk level.
Top Forex brokers for beginners in 2024 for traders from Zambia
| RoboForex | Exness | Vantage Markets | Pepperstone | FreshForex | |
|---|---|---|---|---|---|
Overall score |
8.61 |
7.58 |
7.32 |
8.29 |
6.44 |
Execution of orders |
8.95 |
9.6 |
8.2 |
9.15 |
6.3 |
Investment instruments |
8.2 |
8.79 |
9.19 |
9.58 |
4.1 |
Withdrawal speed |
9.71 |
8.79 |
8.2 |
8 |
5.71 |
Customer Support work |
9.17 |
9.29 |
6.64 |
6.98 |
6.63 |
Variety of instruments |
8.75 |
8.02 |
7.37 |
8.75 |
7.37 |
Trading platform |
6.86 |
1 |
4.31 |
7.29 |
8.5 |
FAQ
What amount does a novice trader need in order to start trading?
It depends on the account type. For a cent account, USD 50 is enough. For trading on a real account, it is better to deposit at least $300-500.
How do I choose a reliable broker Zambia?
According to the requirements of country Zambia, a broker must disclose all information, including the name, registration data, legal address, etc. License for financial activity is the key document.
Should I accept the bonuses for beginners?
Bonuses for beginners can make trading more profitable, but before accepting a bonus, make sure you read the conditions for receiving bonuses by traders from Zambia.
Can a beginner earn passive income in the Forex market while he is learning?
Yes. For example, you can use PAMM accounts or copy trading platforms. Make sure that these kinds of investment opportunities are available for traders from Zambia.
Best Forex Brokers for Beginners by Countries
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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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.