Forex trading has experienced a surge in popularity throughout the African continent, and traders in Eritrea are no exception.
Bolstered by faster and more reliable internet connections and an entrepreneurial demographic, Forex trading has taken the country by storm.
In this article, we explore the 27 Best Forex Brokers in Eritrea, offering advanced and secure features and conditions that will allow you to take your trading to the next level.
Here’s a run-down on what we cover:
Which forex brokers are available in Eritrea?
Safe forex brokers for traders in Eritrea
Low spread forex brokers in Eritrea
Forex broker with the lowest minimum deposit in Eritrea
MT4 and MT5 forex brokers in Eritrea
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What are the legal and regulatory considerations for forex trading in Eritrea?
Forex trading in Eritrea is not explicitly regulated by a national financial authority, making the legal landscape somewhat unclear for individual traders.
The Bank of Eritrea, which serves as the central bank, does not provide direct oversight or licensing for online forex brokers.
As a result, most Eritrean traders participate in forex trading through international brokers regulated by reputable global authorities such as CySEC, FCA, or ASIC.
While there are no official restrictions barring residents from trading online, the country’s strict foreign exchange controls and limited access to international financial systems can pose challenges when it comes to deposits, withdrawals, and currency conversion.
6 Best Forex Brokers in Eritrea
- ☑️ XM – great educational resources for beginners.
- ☑️ FBS – High leverage, bonuses, and easy start for beginners.
- ☑️ Tickmill – Tight spreads, fast trades, ideal for active traders.
- ☑️ Pepperstone – Tight spreads, fast trades, and pro-level platforms.
- ☑️ IC Markets – Raw spreads, fast execution, perfect for scalping.
- ☑️ Exness – tight spreads and fast withdrawals, perfect for affordable trading.
1. XM
XM is an online broker for trading on forex with a strict no-requotes and no rejections policy. As an internationally regulated and licensed broker, XM has more than 3.5 million clients in over 200 countries with access to trading more than 1,000 instruments.
Traders with XM can choose between the popular MetaTrader 4 or MetaTrader 5 platforms or access the XM WebTrader through their browser. Since its founding in 2009, the broker has picked up over 30+ industry awards.
Min Deposit
USD 5
Regulators
FSC
FSA
CySEC
Trading Platform
MT4, MT5
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | CySEC, IFSC), FCA, ASIC and DFSA |
| 💵 Minimum Deposit | $5 |
| 📉 Average Spread From | 1.7 pips |
| 💰 Commissions From | $3.5 per lot per trade |
| 💳 Deposit/Withdrawal Fees | Bank withdrawals below $200 - $15 |
| 📈 Maximum Leverage | 500:1 |
| 🎁 Bonuses | No. |
| 🕔 Customer Support & Hours | 24/5 |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Allows scalping and hedging | No managed accounts |
| Minimum deposit from $55. | No US clients accepted |
Our Findings
XM is a well-established international forex broker that is accessible to traders in Eritrea.
It is known for its user-friendly platform options, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which cater to both beginner and advanced traders.
One of XM’s standout features is its low minimum deposit requirement, starting as low as $5, making it highly accessible for traders with limited initial capital.
Can traders in Eritrea open an account with XM?
Yes, XM accepts clients from Eritrea. Traders can easily register for an account online, choose from a range of account types (including Standard, Micro, and Islamic accounts), and begin trading after completing a simple verification process.
Does XM offer support and educational resources for beginner traders in Eritrea?
Absolutely. XM provides a wide array of educational materials suitable for beginners, including free webinars, video tutorials, market analysis, and trading tools.
2. FBS
FBS is an online FX and CFD trading brokerage. The company offers a full line of assets and trade types, along with copy trading.
Clients can connect with a variety of MT platforms,s including MT4, MT5, and MT Mobile Trader.
The company charges no commissions on trades, and the spreads are tight compared to other brokers. Spreads can be as low as 0.1 to 0.5 pips depending on account type, asset traded, and market conditions.
This broker’s most attractive feature may be the leverage; clients can trade some assets with up to 1:3000 leverage.
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | ASIC |
| 💵 Minimum Deposit | $5 |
| 📉 Average Spread From | 0.0 pips |
| 💰 Commissions From | $3 |
| 💳 Deposit/Withdrawal Fees | None |
| 📈 Maximum Leverage | 1:500 |
| 🎁 Bonuses | No. |
| 🕔 Customer Support & Hours | 24/5 |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Available online for bettors in the country. | Fewer betting platforms compared to other countries. |
| Bet from home or anywhere with internet access. | Fewer betting markets compared to larger regions. |
| Most platforms are optimized for mobile devices. | Gambling regulations can be unclear or inconsistent |
Our Findings
FBS is a globally recognized forex broker that offers services to traders in Eritrea, standing out for its accessibility and flexible trading conditions.
One of its most appealing features is the low minimum deposit requirement—starting at just $5, which makes it highly attractive to beginners or those trading with limited capital.
FBS also provides exceptionally high leverage, up to 1:3000, which can significantly amplify trading potential, although it requires careful risk management.
Can Eritrean traders open an account with FBS?
Yes, FBS accepts clients from Eritrea. Opening an account is straightforward; traders need to provide personal information, such as full name, email, and phone number, and complete a verification process by submitting identification documents like a valid passport or national ID and proof of residence, such as a utility bill or bank statement.
What trading platforms and tools does FBS offer to Eritrean traders?
FBS provides access to popular trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the FBS Trader mobile app.
These platforms offer a range of tools suitable for various trading strategies, from beginner to advanced levels.
3. Tickmill
Tickmill is one of the most trusted trading platforms and forex brokers in the market. It offers trading services such as Forex, Indices, Commodities, Bonds, and CFDs on the MetaTrader4 trading platform in more than 80 markets.
Tickmill offers tight spreads, which start from 0.0 pips; these affordable and competitive trading conditions that are offered by this broker imply that variable spreads in VIP and Pro accounts start as low as 0.0 pips for some of the major currency pairs.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA
Trading Platform
MT4, MT5, Tickmill Trader
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | FSA, FCA |
| 💵 Minimum Deposit | $100 |
| 📉 Average Spread From | 0.13 pips |
| 💰 Commissions From | None |
| 💳 Deposit/Withdrawal Fees | Not charged |
| 📈 Maximum Leverage | 1:500 |
| 🎁 Bonuses | No. |
| 🕔 Customer Support & Hours | 24/5 |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast and easy account opening | High CFD fees |
| Free deposit and withdrawals | Offshore broker |
Our Findings
Tickmill is a reputable forex and CFD broker that caters to traders in Eritrea, offering competitive trading conditions and a user–friendly platform.
The broker provides two primary account types: the Classic and Raw accounts.
Can I open a trading account with Tickmill from Eritrea?
Yes, Tickmill accepts clients from Eritrea. You can open an account by visiting their website and completing the registration process.
How long does it take to withdraw funds from my Tickmill account?
Tickmill processes withdrawal requests within one working day. The actual time it takes for the funds to reach your account depends on the withdrawal method
4. Pepperstone
Since opening its doors in 2010, Pepperstone Group has emerged as a top-tier player in the online brokerage landscape, building a highly competitive and full-featured trading portal that focuses on forex, shares, indices, metals, commodities, and even cryptocurrencies.
A minimum opening deposit of 200 units in the base currency helps new traders get into the game, underpinned by leverage levels as high as 500:1.
The company is regulated in the U.K. and registered with the Financial Conduct Authority as well as the Australian Securities and Investments Commission.
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔍 Feature | 📋 Information |
| 🛡️ Regulation | FCA and ASIC |
| 💵 Minimum Deposit | $0 |
| 📉 Average Spread From | 0 pips |
| 💰 Commissions From | 7 units of the base currency per lot of the FX pair |
| 💳 Deposit/Withdrawal Fees | $20 for clients outside the EU and Australia |
| ⚖️ Maximum Leverage | 500:1 |
| 🎁 Bonuses | No |
| 🕒 Customer Support Hours | 24/5. |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast and fully digital account opening | High bank withdrawal fee outside EU/Australia |
| Free deposit and withdrawal | No investor protection for non-EU clients |
| Low forex and equity index CFD fees | Only forex, CFDs, and crypto |
Our Findings
Pepperstone is a well-established global forex and CFD broker that offers competitive trading conditions suitable for traders in Eritrea.
Founded in 2010 and headquartered in Melbourne, Australia, Pepperstone is regulated by several Tier-1 financial authorities, including the Australian Securities and Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA), ensuring a high level of trust and security for its clients.
Can I open a trading account with Pepperstone from Eritrea?
Yes, Pepperstone accepts clients from Eritrea. Opening an account is a straightforward process
What are the leverage options available for Eritrean traders with Pepperstone?
Pepperstone offers leverage up to 1:500, depending on the regulatory jurisdiction and account type.
For clients under the Seychelles Financial Services Authority (FSA) regulation, the maximum leverage is 1:200.
5. IC Markets
IC Markets is a regulated Forex ECN and CFD broker headquartered in Australia, offering to trade on more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks, and Futures.
This wide variety of assets can be traded on the MetaTrader 4, MetaTrader 5, and cTrader platforms for desktop, web and mobile.
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | ASIC |
| 💵 Minimum Deposit | $200 |
| 📉 Average Spread From | 0.0 pips |
| 💰 Commissions From | $3 |
| 💳 Deposit/Withdrawal Fees | None |
| 📈 Maximum Leverage | 1:500 |
| 🎁 Bonuses | No. |
| 🕔 Customer Support & Hours | 24/5 |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fast digital account opening process | High bank withdrawal fee outside EU/Australia |
| Free deposit and withdrawal | No investor protection for non-EU clients |
| Low forex and equity index fees | Only forex, CFDs, and crypto |
Our Findings
IC Markets is a globally recognized forex and CFD broker that offers competitive trading conditions suitable for traders in Eritrea.
Established in 2007 and headquartered in Sydney, Australia, IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA) .
This regulatory oversight provides a level of security and trust for traders.
Can I open a trading account with IC Markets from Eritrea?
Yes, IC Markets accepts clients from Eritrea. To open an account, complete the online application and submit identification documents for verification.
What are the withdrawal processing times and fees for IC Markets?
IC Markets processes withdrawal requests within 24 hours.
The time it takes for funds to reach your account depends on the withdrawal method
6. Exness
Exness offers users the ability to trade on a wide range of asset classes, covering Forex and CFDs on Crypto, Metals, Energies, Stocks, and Indices across five core trading accounts.
Professional Accounts are called Raw Spread, Pro, and Zero with account leverage of up to 1:2000 on MT4 and unlimited leverage on MT5.
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Platform
MT4, MT5, WebTerminal, Exness Terminal
Crypto
Yes
Features
| 🔍 Feature | 📋 Information |
| 🛡️ Regulation | CySEC, SFSA FCA, FSA(JP) |
| 💵 Minimum Deposit | $10 |
| 📉 Average Spread From | 0.1 pips |
| 💰 Commissions From | $10- $30 |
| 💳 Deposit/Withdrawal Fees | Deposit fee in some regions |
| ⚖️ Maximum Leverage | 1:30 |
| 🎁 Bonuses | No |
| 🕒 Customer Support Hours | 24/5. |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| 10$ minimum deposit | Deposit fee charged in certain regions |
Our Findings
Exness is a reputable global forex and CFD broker that offers competitive trading conditions suitable for traders in Eritrea.
Established in 2008, Exness is regulated by several top-tier financial authorities, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of trust and security for its clients
Can Eritrean traders open an account with Exness?
Yes, traders from Eritrea can open an account with Exness. The registration process is fully online and only takes a few minutes.
What trading platforms and instruments does Exness offer in Eritrea?
Exness provides access to popular trading platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the Exness Trader App.
Eritrean traders can access a wide range of instruments, including forex pairs, cryptocurrencies, indices, stocks, metals, and energies.
Conclusion
In conclusion, while forex trading in Eritrea operates in an unregulated environment with limited local infrastructure, traders can still access global financial markets through internationally licensed and reputable brokers.
With the right broker, Eritrean traders can benefit from low minimum deposits, multilingual customer support (including French), and secure platforms like MetaTrader 4/5.
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Frequently Asked Questions
Is forex trading allowed in Eritrea?
Yes, forex trading is allowed in Eritrea
Are there forex brokers in Eritrea who are good to trade with?
Yes, there are well-regulated and trustworthy forex brokers in Eritrea who offer advanced and secure conditions and features to help you take your trading to the next level.
Do forex brokers in Eritrea offer demo accounts to beginner traders?
Yes, most of the forex brokers operating in Eritrea offer demo trading accounts that are available to beginners as well as more experienced traders who want to practice trading with Eritrea brokers.
What instruments are available for trading in Eritrea?
The instruments available for trading will largely depend on your choice of broker and include, but are not limited to, Forex, Indices, Stocks, Commodities, Crypto, and more.
Is forex trading in Eritrea unsafe?
To say that forex trading in Eritrea is unsafe is a misconception. There are brokers operating in the country who are well-regulated, trusted, and safe to use.
