Best Forex Brokers in Ethiopia: A Comparative Guide

• Eightcap - Best broker to trade directly from TradingView charts

• XM Group - Best Order Execution (99.35% of orders are executed nearly instantly)

• TeleTrade - Best for learning trading basics (a lot of educational and analytical materials)

• Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)

• VT Markets - Attractive Forex bonuses (50% welcome bonus, 20% deposit bonus)

• Bybit - A global cryptocurrency exchange offering Forex and CFD trading through the MetaTrader 5 platform, with leverage of up to 1:500.

At Traders Union, we evaluate Forex brokers to help traders make informed, confident decisions and avoid unreliable or unsafe options. We use a professional and detailed approach, focusing on key factors such as regulation and safety, trading costs, ease of use, platform features for all experience levels, and real trader feedback collected over 15 years.

We’ve outlined every step of our evaluation in detail on our Methodology Page. Our process is transparent, data-driven, and built on years of expertise, combined with real trader insights, ensuring you can trust our recommendations.

Our goal is to guide traders toward brokers that are safe, reliable, and suited to their needs, whether they are beginners or experienced professionals in Ethiopia

Comparison of leading Forex brokers in Ethiopia

The minimum deposit, EUR/USD spread, eligibility for residents of Ethiopia, and the number of available currency pairs are key factors to consider when choosing a broker.

• The minimum deposit shows how affordable it is to start trading.
• The EUR/USD spread highlights trading costs—lower spreads mean you save more.
• Eligibility for residents of Ethiopia ensures you can legally access the broker’s services.
• The number of currency pairs reveals the variety of trading options available.

Together, these factors help you determine if a broker is safe, cost-effective, and aligned with your trading needs.

We have analyzed the key advantages and disadvantages of the leading Forex brokers in Ethiopia, as well as their overall ratings based on our proprietary methodology.

Available in Ethiopia

1

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TU Overall Score 9.1 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.1 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	8 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• The broker is registered in the Bahamas and Seychelles, and is regulated by the Securities Commission of the Bahamas (SCB, SIA-F220), ASIC (391441), FCA (921296), CySEC (246/14). Also, it partners with many proprietary firms;
• Negative balance protection;
• Traders need to deposit only $100 to open a live account, and the broker imposes few trading limits on its clients;
• Hundreds of the most popular CFDs are available, and the pool is constantly expanding;
• Eightcap provides one of the most profitable trading costs with really tight spreads;
• Almost all options for depositing/withdrawing funds are available and the broker does not charge a withdrawal fee;
• The broker’s clients can work through any of the three top trading platforms, including mobile versions of the MetaTrader solutions;
• The company provides high-quality training, extensive analytics, and its own developments for automated trading.

• No joint accounts, copy trading, or other options for passive income.

Available in Ethiopia

2

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TU Overall Score 9 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.1 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	9.2 /10

Advantages Disadvantages

• XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
• No “markup” on narrow market spreads (broker's margins over the spread);
• Over 1,000 trading instruments. Available for trading are: 57 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
• No commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
• Around the clock support for 5 days a week in more than 30 languages.

• Expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.

Available in Ethiopia

3

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TU Overall Score 8.6 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.3 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.7 /10

Advantages Disadvantages

• detailed analytical section;
• informative training section;
• Invest Start risk-free investment service;
• interest accrual on deposit;
• copytrading service;
• several affiliate programs with high payouts.

• no PAMM accounts or other money management options;
• few withdrawal options;
• support is available 24/5;
• withdrawals delayed;
• technical support responds slowly;
• sometimes it takes a long time to verify data.

Available in Ethiopia

4

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TU Overall Score 8.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.5 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• Availability of 8 licenses and a membership in the Financial Commission providing up to EUR 20,000 insurance coverage per client in the event of a force majeure;
• Wide choice of account types — Standard, Standard Cent, Pro, Zero and Raw Spread;
• Wide range of CFDs, including over 100 currency pairs;
• Zero deposit and withdrawal fees (Depends on the payment system);
• Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.

• The broker’s website offers almost no educational materials;
• 24/7 support isn’t available in all languages.

Available in Ethiopia

5

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TU Overall Score 8.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.7 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	6 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	9.5 /10

Advantages Disadvantages

• Financially stable parent company and reliable custodian bank.
• Over 230 assets of different classes are available for trading.
• It allows trading using STP, ECN, and Islamic accounts.
• A wide range of investment solutions from reputable third-party platforms.
• Margin trading with leverage up to 1:500 for cryptocurrency pairs.
• Average trading commissions on ECN and precise market spreads on all account types.
• Access to making trades in desktop and mobile terminals MetaTrader 4/5, as well as in the web version of MT4.

• The high minimum deposit for novice traders is $50.
• Lack of access to micro (cent) accounts.
• The list of available assets does not include cryptocurrencies and ETFs.

Available in Ethiopia

6

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TU Overall Score 8.4 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.7 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	8 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	3.9 /10

Advantages Disadvantages

• Access to Forex and CFDs without the need for third-party broker verification;
• Support for trading via mobile and desktop MT5 versions;
• Leverage up to 1:500 on most contracts;
• Transparent commission and spread calculation system;
• ECN model with ultra-tight spreads and fixed lot-based commissions;
• No minimum deposit requirements;
• Free demo account for virtual trading.

• No multi-currency accounts;
• Limited passive income options in the Forex market.

Trading fees and commissions of top brokers in Ethiopia

We compared both trading and non-trading fees of the top brokers in Ethiopia. This comparison highlights the following:

• Trading fees:

  These include average spreads in pips for popular currency pairs like EUR/USD and GBP/USD, based on both Standard and ECN account types with floating spreads.

• Non-trading fees:

  These cover deposit and withdrawal fees (percentage-based), along with inactivity fees.

By analyzing these parameters, we aim to provide a transparent overview of the cost-effectiveness of brokers in Ethiopia.

Security and regulation of top brokers in Ethiopia

When choosing a Forex broker in Ethiopia, regulation ensures your funds are safe. Tier-1 regulation is the most reliable, with strict rules on transparency and client protection. Tier-2 regulation is solid but less strict, offering a reasonable level of oversight. Tier-3 regulation and unregulated brokers are riskier, with minimal or no monitoring, which can put your money at risk.

The data below shows the regulatory level of brokers available in Ethiopia, helping you make a safe and informed choice.

Top 3 brokers for beginners in Ethiopia

This comparison highlights the best brokers in Ethiopia for new traders based on the following criteria:

• Education Score: Assesses the quality of educational materials, such as tutorials and guides.
• Cent Accounts: Allow traders to start with minimal capital ($1–$10), enabling them to learn market dynamics with limited financial risk.
• Demo Accounts: Provide risk-free environments for practicing trading strategies.
• Copy Trading: Enables new traders to learn by replicating the trades of experienced traders.
• PAMM Accounts: Offer opportunities for passive investment.

These features help ensure a smooth start and effective learning experience for beginners in Ethiopia.

Is Forex regulated in Ethiopia?

How to choose a Forex broker in Ethiopia

For beginners, it’s essential to start with a strong foundation in Forex trading basics. Focus on understanding trading psychology, how leverage impacts risk, and the importance of lot sizes and risk management strategies.

Once you’ve built your knowledge, follow these practical steps to begin trading Forex in Ethiopia:

• Check regulation and security.

  Ensure the broker is regulated by a Tier-1 or Tier-2 regulatory authority or holds a valid license in Ethiopia. Regulation helps guarantee fund safety and compliance with industry standards.

• Compare fees and spreads.

  Seek brokers offering low spreads, transparent fees, and competitive commission structures for Ethiopia clients to minimize trading costs.

• Evaluate trading platforms.

  Choose brokers offering advanced platforms such as MT4, MT5, or TradingView for efficient trading and analysis.

• Review account types.

  Select a broker that offers account types suited to your needs, such as Cent and Demo accounts for beginners and ECN accounts for experienced traders.

• Assess deposit and withdrawal options.

  Ensure the broker provides fast, affordable, and reliable deposit and withdrawal methods in Ethiopia.

• Check customer support quality.

  Choose brokers that offer responsive, multilingual support 24/7 to ensure prompt and effective issue resolution.

Expert advice for traders in Ethiopia

Author at Traders Union Parshwa Turakhiya

Updated on July 07, 2025

In my experience, responsive customer support is crucial for a positive trading experience. Trading inevitably involves occasional issues, whether it's a question about deposits and withdrawals or a technical problem with the platform. Brokers offering 24/7 multilingual support have been invaluable in my trading journey. Multiple communication channels, such as live chat and phone support, facilitate prompt issue resolution. Reliable customer support not only addresses issues quickly but also demonstrates the broker's commitment to its clients' success.

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Team that worked on the article

Peter Emmanuel Chijioke

Contributor

Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.

Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.

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Chinmay Soni

Developmental English Editor

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

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Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).