Best Forex Trading Brokers Allowed to Trade in Tanzania (Found 10 training providers)

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10 Best Forex Trading Brokers Allowed to Trade in Tanzania

Find out where you can learn Forex Trading Brokers in the following cities :

Exness TZ

3.67

Established in: 2008

Cities:

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Exness Trading Company has been operating within the Forex market since 2008. The broker's activity is controlled by Nymstar Limited, a company registered within the Republic of Seychelles. The service is regulated through licences issued by CySEC (Cyprus Securities Commission), FCA (Office of Financial Regulation and Supervision of Great Britain) and FSA (Office of Financial Regulation and Supervision of the Republic of Seychelles). The broker is in the top position in Forex ratings. The business's trading volume for the month is $325.8 billion dollars. The broker has CFDs available for cryptocurrency, stocks and more than 120 currency pairs, energy and metals. Exness's service provides the best working conditions for traders, including low commissions, instant execution of orders and withdrawing funds. An infinite leverage makes it possible to earn money on smaller deposits as low as $999. There are a variety of choices for opening an account depending on the traders' needs. Demo accounts are accessible as a learning account that is suitable for novice traders as well as professional traders.

Pros:
• Supported currencies include approximately 107 pairs.
• Offers lowest commissions in the market for foreign exchange.
• A variety of options are offered for trading accounts, with different methods of charging a fee for beginners and professionals.
• The options for deposit and withdrawal are easily accessible
• More than 60 of the base funds of the account.

Cons:
• The jurisdiction of Seychelles having low protection of the rights of customers of financial companies is a danger factor
• Learning and analytical content appear superficial.
• Professional accounts must have a high minimum deposit.

HotForex TZ

3.6

Established in: 2007

Cities:

Call: +44-2030978571

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HotForex provides accounts and trading software that allow institutions and individuals to trade Forex online. All retail customers, affiliates and white label clients get access to trading platforms that are automated as well as liquidity and other services. HotForex provides clients with a range of options for accounts to ensure that they have the most suitable one for their specific trading needs. HotForex provides customers of all levels the tools and services they require to achieve their goals in trading.

Pros:
• favorable trading conditions and low spreads - starting at 0 pips
• managed by various regulators
• no commissions for account replenishment and transfer to a bank account.

Cons:
• The withdrawal terms do not all correspond to the ones indicated
• Clients can only have one account currency, so the double conversion fee may be necessary for certain clients.
• The option of using electronic payment systems for replenishmentand withdrawals is modest
• The registration process is simple however, while it's still in process, you will not be aware of the terms and conditions applicable to other kinds of accounts.
• The weekend is closed for customer support

IC Markets TZ

3.33

Established in: 2017

Cities:

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IC Markets' low prices and their scalable execution makes an excellent choice for traders who use algorithms. While it has a variety of third-party tools and plugins, IC Markets' education and research options aren't as impressive as those provided by the industry's top players.

Pros:
• It is a secure broker (average risk) with regulatory status in one jurisdiction tier-1 and one jurisdiction Tier-2. This is a good broker to trade CFDs and forex.
• Provides competitive rates across all types of accounts with low average spreads.
• Third-party trading and research tool plugins add value to the IC Markets MetaTrader offering
• IC Markets' low-cost, scalable execution makes it an ideal choice for traders looking to implement algorithms.
• It has dramatically expanded its market coverage from 204 symbols up to over 3500.

Cons:
• No extra contests or bonuses for traders.
• Some delays in payments for a couple of days
• Trails the best forex brokers when it comes to the scope of its market research and the high quality of its educational material.

ForexTime TZ

3.2

Established in: 2011

Cities:

Call: +44 20 3734 1025

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FXTM was founded in 2011 and has become a pioneer in trading online. FXTM offers financial markets to everyone, regardless of geographical location or financial goals.

Our worldwide office network and regulations spans Europe, Africa, Asia. Our offices are situated across over 180 countries, and have served more than 3 million clients.

Pros:
• A wide variety of trading accounts
• an abundance of training materials
• the ability to employ the power of automated trading software
• FXTM Trader is a proprietary mobile application for trading.
• A wide range of trading instruments is available
• Four states have financial regulators that supervise the brokerage activities.

Cons:
• for investment, only copies of trading are offered
• The broker is closed on Saturday and Sunday

Alpari Limited TZ

3.0

Established in: 1998

Cities:

Call: +44 8449 869559

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Our mission is to make our clients successful and grow the financial services industry in all countries where we operate. We continue to innovate and ensure that our services are relevant. According to Chinese proverbs, one step is sufficient to travel 1,000 miles. This is the story of Alpari. The company was founded in 1998 and has been an internationally recognized broker for over 20 years. Alpari Limited is a registered business under the Registrar of International Business Companies Number 20389 IBC2012. Alpari is a member the Financial Commission that helps with the resolution of Forex market disputes.

Pros:
• A wide range of trading accounts that cater to traders with different levels expertise and goals.
• high-quality and efficient work by the customer support service
• There are many options to replenish your deposit or withdraw money.

Cons:
• The withdrawal of funds is possible subject to delays
• Only VIP traders can earn commissions on deposits or withdrawals.
• Trading through the MetaTrader5 platform can only be executed by traders who have regular accounts. The Swap-free Forex Islamic accounts are only available to traders who have MetaTrader4 accounts.

AvaTrade TZ

2.8

Established in: 2006

Cities:

Call: +1 212-941-9609

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AvaTrade is a reputable global brand that is known for its wide array of trading platforms. It offers outstanding educational content that earned it the Best-in class rating by Beginners in 2022. AvaTrade has been tried and proved to be an excellent tool to copy trade. It's also mobile-friendly and adheres to industry standards regarding pricing.

Pros:
• High-quality educational offering via SharpTrader
• Great choice of trading platforms catering to different needs in trading
• Broad asset choice and cross-asset diversification possibilities
• A reputable and reliable broker that is regulated and has supervision from central bank
• AvaTrade Support for customers is available in a variety of languages

Cons:
• The cost of trade is comparable, but not exclusive.
• High Inactivity Fees for High Inactivity: $50 per Quarter
• The withdrawal process could take up to 10 days

FP Markets TZ

2.67

Established in: 2005

Cities:

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FP Markets is a low-cost broker that lets you trade CFDs and forex when you are using the MetaTrader platform is utilized. While the Iress platform suite includes more than 8000 symbols that can be traded however, it's more suitable to share trading and is generally more expensive. FP Markets provides a flexible and affordable MetaTrader solution for CFD traders as well as Forex traders. The traders will not be able to access industry research or educational content.

Pros:
• Opening accounts is swiftly and easily
• Deposit and withdrawal processes are swiftly completed
• Segregated accounts and annual reports
•Clients are assured about the quality of services provided by an agent that is in compliance with the strictest standards to protect investors.
• FP Markets offers consistently tighter spreads beginning at 0.0 pips
• There is no manipulation of prices, there is no dealing desk, and there are no re-quotes.

Cons:
• The range of products is small
• Desktop and Web platforms are somewhat old-fashioned

OctaFX TZ

2.4

Established in: 2011

Cities:

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OctaFX offers a low-cost, basic MetaTrader platform experience via its social copy-trading service. OctaFX isn't a market leader in terms of pricing, but it offers a small selection of instruments that can be traded and educational content. OctaFX also holds a single regulatory license.

Pros:
• Offers proven platforms for trading such as MetaTrader 4, MetaTrader 5 and CTrader
• Spreads as tight as 0.6 pip and there are no broker fees for non-trading withdrawals or deposits of funds
• Many trading options for traders, which includes an array of assets and access to a service for copying trades
• Available minimum deposit. To start trading, you must make a minimum deposit of $100 to your account.
• It is authorized to carry out brokerage activities by the Cyprus regulator CySEC
• Over 97% of the orders were executed without slippage

Cons:
• CFDs and cryptocurrencies cannot be traded on a cTrader account.
• There is a limited selection of investment options to earn passive income
• Periodic updates to the payment options are provided
• The amount of commissions paid to EPS is not listed on the website of the company.

XTB TZ

2.4

Established in: 2005

Cities:

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XTB is a listed on the stock exchange FX & CFD brokerage that has more than 15 years of experience. The company has 13 offices across Europe, France, and Germany. XTB strives to offer the most efficient trading experience to its customers. These values are reflected in our fundamental values. Our goal is to assist our clients to become better investors. Our customer service department is accessible 24 hours a day and 7 days a week. You can also access webinars and videos in our educational materials. We provide beginner and advanced investor classes.

Pros:
• A wide variety of trading instruments
• Authorized from 5 regulators
• Multilingual website, customer support team
• Certain ETFs/stocks/ETFs come with low foreign CFD fees and commission-free.
• Free and fast deposit and withdrawal

Cons:
• The demo account is available for just four weeks
• All analytical materials provided to the broker must be in English
• Non-European users aren't eligible for bonus schemes

Pepperstone TZ

1.83

Established in: 2010

Cities:

Call: +254 20389 3547

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Pepperstone offers a growing array of market-tradeable options, top-quality research, and support for a variety of trading platforms on social media. It is compatible with MetaTrader and CTrader, and MetaTrader. Numerous third-party plugins are able to be added to the already extensive range of platforms. The website of the company does not provide the amount of commissions paid to EPS.

Pros:
• Access to more than 61 forex pairs and over 60 stocks CFDs
• Leverage is available for both cryptocurrency and forex trading
• A vast array of educational tools and courses suitable for both professionals and beginners.
• Fast order execution time - on average 30 milliseconds

Cons:
• The service is currently unavailable for U.S. traders
• There is no way to directly purchase bonds, stocks, or mutual funds; only CFDs are available for purchase.
• On a demo account, you can trade for free for one month

Forex Trading Brokers Training Courses with Reviews

Choosing a forex broker in Tanzania can be a challenging task, as there are many different brokers to choose from and it's important to find one that is reliable and trustworthy. Here are a few steps you can take to choose the best forex broker in Tanzania:

1. Research different brokers: Look for brokers that have a good reputation and a track record of providing high-quality services. You can check online reviews and compare the features and services offered by different brokers to find one that meets your needsю

Pros: Researching different brokers can help you find a reputable and trustworthy broker that meets your needs. You can compare the features and services offered by different brokers to find one that is best suited to your trading style and needs.
Cons: Researching different brokers can be time-consuming, and it may be difficult to find unbiased reviews and information about the brokers you are considering.

2. Check for regulatory compliance: Make sure the broker you choose is regulated by the Capital Markets and Securities Authority (CMSA) or another reputable regulatory body. This will ensure that the broker follows all of the necessary rules and regulations and is held to high standards of transparency and accountability.

Pros: Choosing a broker that is regulated by the Capital Markets and Securities Authority (CMSA) or another reputable regulatory body ensures that the broker follows all of the necessary rules and regulations and is held to high standards of transparency and accountability. This can help protect you and your investments.

Cons: Some brokers that are not regulated may offer lower fees or spreads, which may be appealing to some traders. However, it's important to weigh this potential cost savings against the risks of working with an unregulated broker.

3. Consider the broker's fees and spreads: Different brokers charge different fees and spreads for their services. It's important to compare the fees and spreads offered by different brokers to find one that is competitive and offers good value for money.

Consider the broker's fees and spreads:

Pros: Comparing the fees and spreads offered by different brokers can help you find a broker that is competitive and offers good value for money.

Cons: Some brokers may offer lower fees or spreads at the expense of other important features, such as reliability or customer service. It's important to consider the overall quality of the broker's services when comparing fees and spreads.

4. Look for a broker with a strong customer support team: A strong customer support team is essential for any forex broker. Look for a broker that is responsive to your needs and has a team that is available to answer your questions and help you with any issues you may have.

Pros: A strong customer support team is essential for any forex broker. A responsive and helpful customer support team can make it easier to get answers to your questions and resolve any issues you may have.

Cons: Some brokers may not offer as comprehensive customer support as others, or may not offer support in the languages or time zones that you prefer.

5. Consider the broker's trading platforms: Different brokers offer different trading platforms, so it's important to find one that is user-friendly and meets your needs. Look for a broker that offers a platform that is easy to use and has all of the features and tools you need to trade effectively.

Pros: Different brokers offer different trading platforms, so it's important to find one that is user-friendly and meets your needs. A good trading platform should be easy to use and have all of the features and tools you need to trade effectively.

Cons: Some brokers may not offer as advanced or customizable trading platforms as others, or may not offer platforms that are compatible with all devices. It's important to consider your specific needs and preferences when choosing a trading platform.

It's also a good idea to test out a broker's platform and customer support before making a decision. You can often open a demo account with a broker to get a sense of how their platform works and how responsive their customer support team is. This can help you make an informed decision and choose a broker that is right for you.

Latest Reviews

IC Markets TZ

Taylor

2022-08-31 16:04:28 UTC

I consider him a serious broker. I was initially a little hesitant about ICMarkets due to their aggressive advertising. I discovered that a friend of mine had opened an account and received many bonuses. I decided to follow his lead and was correct. Please read my feedback on ICMarkets - I highly recommend them for cooperation!

IC Markets TZ

2022-08-31 16:04:51 UTC

This broker is the worst I have ever dealt with. They won't accept bank statements to prove residency like everyone else. They insist that I visit the municipality to obtain a letter verifying that I reside where I live during this pandemic. They don't pay attention to what's happening right now. A member of another broker.

IC Markets TZ

Regina

2022-08-31 16:05:12 UTC

They have deposited more than $50,000. Let me tell you, they have unprofessional support. If you have any problems, they won't respond in 5-10 days. Your order may not have arrived if your balance is negative or there are problems with withdrawing funds. They don't seem to care that you have deposited your hard-earned money.

IC Markets TZ

Lawrence

2022-08-31 16:05:44 UTC

They are by far the most professional and honest broker I have ever dealt with. Their team of professionals is efficient and quick to respond to any need, even the simplest. This broker has been my partner for more than 5 years. I wouldn't change to anyone else. Excellent service, low spreads and fast execution. Fast deposits and withdrawals. This company is highly recommended.

OctaFX TZ

Damon

2022-08-31 16:06:39 UTC

Since two weeks, I haven't been able trade properly. It's not clear what went wrong, but it seems that everything hangs up and they don't allow me to enter the system. When I called them for the 10th consecutive time, they didn't pick up the phone. They claim they have communication issues that they cannot fix for two weeks. I am changing brokers

OctaFX TZ

Lucas

2022-08-31 16:07:18 UTC

I don't advise anyone about brokers. I believe that everyone should make the right choice for themselves, and then no one can blame me. This is my personal experience with the broker. OctaFX has been fully compliant with the legal documents since the beginning. The company is licensed and willing to work in the legal sector. The company is licensed and ready to work within the legal framework. There have been no problems with terminating contracts. Trading is easy and the terminals are well-known. I had some questions for customer support. Sometimes you have to wait for a response from technical support. It is heavy, and I can't deny that. However, I wish the broker had paid more attention to the problem and rectified it.

OctaFX TZ

Oscar

2022-08-31 16:07:59 UTC

If your account is blocked like mine, you can rest assured that you will not log in to your personal cabinet ever again. Support may tell you fairy tales or ignore you completely. It was both. Let me be clear: you will be blocked once you begin earning. You will not get anything even if you don't earn it. You are smarter than them.

OctaFX TZ

Liam

2022-08-31 16:08:39 UTC

Personally, OctaFX disappointed me. I had hoped for a lot more. The company isn't insolvent with its payments. However, the assets and investment options here are not very extensive. It isn't as extensive as the list of offers and assets. This broker is still my broker. I am not yet looking for the right one, but I trade with them. I am looking for a company that provides the best balance of passive and active earning opportunities.

OctaFX TZ

Jack

2022-08-31 16:09:03 UTC

OctaFX is not as diverse in investment options and assets as other brokers, which I know. This platform is my favorite. It is a place where I feel at ease trading. Spreads are good, there is no slippage in opening/closing trades, and you can access social trading. This company is a good choice for both beginners and professionals.

Pepperstone TZ

Bobby

2022-08-31 16:09:46 UTC

Each broker has its pros and cons. The Pepperstone site lacks analytics, so you will need to access other resources. Trading conditions are very satisfying. Spread on major pairs in calm market is slightly higher that 1 p. However, this is a typical situation for all companies. You can only use your demo account for one month after opening it. This is sufficient time to familiarize yourself with trading at Pepperstone. The market is volatile, so the strategy must be refined. It is necessary to test it on a real account. Sometimes, this means financial losses.

Pepperstone TZ

2022-08-31 16:09:58 UTC

The cancellation of trades is a serious problem at Pepperstone Broker. It was me, I thought. This was my fifth cancellation. However, I looked at the reviews and realized that this is not a common situation. Is Pepperstone unwilling to make profits?

Pepperstone TZ

Pauj

2022-08-31 16:10:14 UTC

Pepperstone does not withdraw money. I requested a $75 withdrawal, which is the entire deposit. There were no problems with the application, it was automatically confirmed and then silence. They have been messing around with me for three weeks. They are crooks!

Pepperstone TZ

Mike

2022-08-31 16:10:27 UTC

I made a deposit of $2,500 to my Pepperstone bank account. I was able to trade on the currency pairs USD/CAD/USD/CHF. However, when I tried to withdraw funds, the site suddenly started showing me problems. I wrote to financial support and they assured me they were aware of the problem and would resolve it quickly. The money was not being withdrawn. Then, while trading, I lost three more orders. They didn't have the time to process them and five hours later, I discovered that all of them had been forcibly closed at lower prices, just before market collapsed. This is clear evidence they cheated me.

Pepperstone TZ

Tara

2022-08-31 16:10:41 UTC

This is how I found myself with Pepperstone. My profit was approximately $480. I requested withdrawal of all my profits, but only $250 was granted. The remaining 230 went missing to no one's knowledge. I have contacted support numerous times and asked why my profit was corrected. What did I do wrong? However, I don't know how this happened. They have not given me my money back, and they most likely will not. It is hard to understand the attitude of these people. They don't want to trade and make money. This is the first time I've ever seen this, so I will withdraw my entire deposit and move on from this broker.

Pepperstone TZ

Ron

2022-08-31 16:10:57 UTC

Pepperstone.com broker is new to me, and it's not something I like. The stop button is not activated often. They just don't allow me to open lucrative deals, I feel. There is one problem. If the order goes into the red, it's not a problem. Stops are not triggered or triggered with strong slippage. Support service claims the conditions are fair, but one must keep an eye on trades to make a profit.

XTB TZ

Rick

2022-08-31 16:11:25 UTC

Although XTB isn't the first broker that I have opened an account with it, I have never had to go through such a complex verification process. You won't be disappointed if you are patient enough to go through each stage. I love that XTB has its own developers. xStation performs better than the popular MQL terminal. Slippage is minimal and there are no hiccups. The only downside to XTB is the fact that you can only use the demo version for a month. I was able to familiarize myself with the trading features in the company. However, all changes to the strategy must be verified on the actual account. Everything else is fantastic.

XTB TZ

Nolan

2022-08-31 16:11:44 UTC

My account was closed after I submitted my withdrawal request ($9000). I received a mail informing me that my account was blocked. It stated that I had been accused of hedging, and therefore, all my profit was lost. My letters have not been answered by anyone. It is easy to understand the type of review that I would like to leave on XTB .....

XTB TZ

Adam

2022-08-31 16:12:05 UTC

XTB always delayed withdrawals, and that's always right. The agreement did not provide for the execution of what was required. What kind of respect can they expect from people who are deceived? This attitude got me tired, so I quit.

XTB TZ

Rob

2022-08-31 16:12:31 UTC

It was frustrating to have to fill out paperwork. To open an account with XTB, I needed to contact support. They instructed me to fill out each item. The account was created after I registered. However, I could not deposit it. The bank blocked my card at the transfer stage. They thought it was a scam, even though I had sent it manually. To prove it was a Forex broker, I had to contact the bank. They also made me nervous by delaying the payment for the second card for two days. I didn't have enough money and I don't want to use them anymore. Since the money is so messed up and the case, it's obvious that the gunman has a gun.

XTB TZ

Adelin

2022-08-31 16:12:55 UTC

The broker is well-respected in Europe and has been active on the market for a while. It has been a great partner. There are many trading instruments available, with low spreads and sufficient leverage. It is very informative and the trader must speak English. A good broker. There are some drawbacks, however. The broker is not oriented towards Europe and opening an account requires extra verification. All analysis material is available in English. A demo account is only available for four weeks.