Forex trading has experienced a surge in popularity throughout the African continent, and traders in Eswatini 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 6 Best Forex Brokers in Eswatini, 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:
Forex broker reviews Eswatini
Forex trading regulations in Eswatini
MetaTrader 4 brokers Eswatini
Forex account types in Eswatini
How to start forex trading in Eswatini
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 Eswatini?
Forex trading in Eswatini is legal, but it is not yet comprehensively regulated by a specific financial authority dedicated to overseeing forex activities.
The Central Bank of Eswatini serves as the primary financial regulator, but it does not currently issue licenses or provide strict guidelines for forex brokers operating in the country.
As a result, most forex traders in Eswatini rely on international brokers that are regulated by reputable bodies such as the FCA (UK), CySEC (Cyprus), or FSCA (South Africa).
6 Best Forex Brokers in Eswatini
- ☑️ Alpari – Offers high leverage, low deposits, and PAMM accounts.
- ☑️ HFM – No minimum deposit, multiple accounts, up to 1:1000 leverage.
- ☑️ XM – $5 minimum, tight spreads, supports MT4/MT5.
- ☑️ IC Markets – ECN broker, ultra-low spreads, fast execution.
- ☑️ Exness – $10 deposit, instant withdrawals, unlimited leverage.
- ☑️ Pepperstone – Low spreads, fast trades, top trading platforms.
1. Alpari
Founded in 1998, Alpari is a leading, pioneering online forex and CFD broker in the industry. The broker was one of the first brokers that adopt the popular MetaTrader 4 trading platform.
Hence, it is not surprising that Alpari is currently the largest MetaTrader-based forex broker in the world. The broker is also credited for being the broker that introducing the PAMM money manager service into the online trading industry.
Based in Saint Vincent and the Grenadines, Alpari currently serves more than 2 million clients all over the world.
Min Deposit
USD 5
Regulators
FSC
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | FSC, FSA, TFC, CRFiN |
| 💵 Minimum Deposit | $5 |
| 📉 Average Spread From | 0.4 pips |
| 💰 Commissions From | $1.5 per lot per side |
| 💳 Deposit/Withdrawal Fees | Yes |
| 📈 Maximum Leverage | 1:1000 |
| 🎁 Bonuses | Yes |
| 🕔 Customer Support & Hours | 24/5 |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| MetaTrader 4 and 5 are offered | Fixed spread accounts are not offered |
| PAMM Accounts offered | Limited financial instruments offered |
| Superior multilingual customer support | Restrictions on traders from some countries |
Our Findings
Our findings for Alpari in Eswatini suggest that it is a solid choice for traders seeking high leverage options, offering up to 1:1000 leverage and a low minimum deposit of just $5.
What is the minimum deposit required to start trading with Alpari in Eswatini?
The minimum deposit to start trading with Alpari is just $5, making it an affordable option for beginner traders in Eswatini.
Does Alpari offer any special account types for traders in Eswatini?
Yes, Alpari offers a variety of account types, including the PAMM (Percent Allocation Management Module) account, which allows investors to allocate funds to professional traders, providing an opportunity for passive income.
2. HFM
HFM is a Forex broker specializing in trading services and providing a place for both corporate and retail clients.
The broker has a stable trading market, offers one of the lowest commissions and fees applied in the Forex retail industry, and has excellent customer support.
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Features
Pros and Cons
| ✅ Pros | ❌ Cons |
| Competitive trading conditions offered | US Clients not allowed |
Our Findings
Our findings for HFM in Eswatini indicate that it is a versatile and accessible broker, especially for traders seeking low barriers to entry.
With no minimum deposit requirement, HFM is ideal for beginners.
What is the minimum deposit required to open an account with HFM in Eswatini?
HFM offers various account types with differing minimum deposit requirements.
What leverage options are available for HFM traders in Eswatini?
HFM provides leverage up to 1:2000, depending on the selected account type.
3. XM
XM is a forex broker company that was established in Cyprus in 2009. It provides its services to over 196 countries, with the bonus of its customer service speaking in 30 languages. XM has been fully functioning since 2009 and has continued its rise to success ever since.
XM provides variable spreads, similar to those of the Interbank Forex Market. The spreads do not apply any restrictions on trading processes during press releases on the industry.
For trading clients, they benefit a lot from these conditions, as fixed spreads are higher, and they offer more flexibility than other distinguished trading strategies.
Min Deposit
USD 5
Regulators
FSC
FSA
CySEC
Trading Platform
MT4, MT5
Features
| 🔧 Feature | 📌 Information |
| 🛡️ Regulation | FCA |
| 💵 Minimum Deposit | $5 |
| 📉 Average Spread From | 0.0 pips |
| 💰 Commissions From | $1 |
| 💳 Deposit/Withdrawal Fees | None |
| 📈 Maximum Leverage | 1:888 |
| 🎁 Bonuses | Yes |
| 🕔 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
Our findings for XM in Eswatini indicate that it is a reputable and accessible broker suitable for both beginner and experienced traders.
What is the minimum deposit required to open an account with XM in Eswatini?
XM offers a low minimum deposit of just $5 for Micro and Standard accounts, making it accessible for new traders or those looking to trade without a large initial commitment.
Is XM regulated in Eswatini?
XM is regulated by several reputable authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa.
4. IC Markets
Founded in 2007, International Capital Markets Pty Ltd (IC Markets) was established in Sydney and acquired an Australian Financial Services License (AFSL) with the Australian Securities and Investment Commission (ASIC) in 2009.
Today, IC Markets offers a suite of trading platforms from MetaQuotes Software Corporation, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as the suite of cTrader platforms from SpotWare Systems.
In addition to providing traders 63 forex pairs and 41 CFDs on indices, metals, cryptocurrencies, and futures contracts on its available account types, IC Markets also provides social copy trading via Myfxbook and on the ZuluTrade platform.
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 |
| Hedging and scalping allowed | Fixed spreads not offered |
| Low trading and non-trading fees | US Clients not allowed |
Our Findings
Our findings for IC Markets in Eswatini indicate that it is a reputable and accessible broker for traders in the region.
What is the minimum deposit required to open an account with IC Markets in Eswatini?
The minimum deposit for a Standard account with IC Markets is typically $200.
However, for traders in Eswatini, the equivalent in South African Rand (ZAR) is approximately 2,000 ZAR, depending on the current exchange rate.
Does IC Markets offer Islamic (swap-free) accounts for traders in Eswatini?
Yes, IC Markets offers Islamic accounts for traders who adhere to Islamic finance principles, including those in Eswatini.
5. Exness
Exness has CFDs available for cryptocurrency, stocks, more than 120 currency pairs, energy, and metals.
Exness’s service provides favourable working conditions for traders: low commission, instant execution of orders, and withdrawal of funds.
An infinite leverage makes it possible to earn on small deposits up to $999. There are several options for opening an account depending on the traders’ needs.
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, FCA, SFSA |
| 💵 Minimum Deposit | $10 |
| 📉 Average Spread From | 0.0 pips |
| 💰 Commissions From | From $3.5 per lot per side |
| 💳 Deposit/Withdrawal Fees | Yes |
| ⚖️ Maximum Leverage | 1:2000 |
| 🎁 Bonuses | No |
| 🕒 Customer Support Hours | 24/5. |
| 👉Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High maximum leverage offered | Accounts are not multi-currency |
| Powerful trading platforms supported | US Clients not allowed |
Our Findings
The broker is regulated by multiple international authorities, including the Financial Services Authority (FSA) in Seychelles, the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Capital Markets Authority (CMA) in Kenya.
What is the minimum deposit required to open an account with Exness in Eswatini?
Exness offers various account types with different minimum deposit requirements.
What leverage options are available for Exness traders in Eswatini?
Exness provides leverage up to 1:Unlimited, depending on the account type and regulatory jurisdiction.
6. Pepperstone
Pepperstone will suit experienced FX traders requiring an extremely fast, reliable, low-cost ECN trading environment and a wide variety of Forex instruments to trade.
Pepperstone Forex broker is also suited to foreign exchange traders who include scalping, Expert Advisor for MetaTrader, automated trading, or hedging strategies, as these are all welcomed and available from Pepperstone accounts and trading platforms.
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
The broker is regulated by top-tier authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC), providing a secure trading environment.
What is the minimum deposit required to open an account with Pepperstone in Eswatini?
Pepperstone does not set a minimum deposit requirement for live accounts.
However, it is recommended to deposit at least $200 or the equivalent in your local currency to meet margin requirements and ensure smooth trading operations.
What leverage options are available for Pepperstone traders in Eswatini?
Pepperstone offers different leverage options depending on the regulatory jurisdiction
Conclusion
In conclusion, Eswatini is a small yet culturally rich and historically significant country in Southern Africa.
Known for its strong traditions, vibrant festivals, and beautiful landscapes, it offers a unique blend of ancient heritage and modern development.
Despite facing economic and political challenges, Eswatini continues to strive toward progress while preserving its monarchy and cultural identity.
You might also like: Best Forex Brokers in South Africa
You might also like: Best Forex Brokers in Chad
You might also like: Best Forex Brokers in Ghana
You might also like: Best Forex Brokers in Uganda
You might also like: Best Forex Brokers in Benin
Frequently Asked Questions
Is forex trading allowed in Eswatini?
Yes, forex trading is allowed in Eswatini.
Are there forex brokers in Eswatini who do not scam traders?
Yes, there are many forex brokers in Eswatini who are trustworthy and well-regulated, from which traders can choose.
Do forex brokers in Eswatini offer accounts for demo trading?
Yes, most of the brokers operating in Eswatini do offer demo trading accounts.
Is Islamic forex trading available in Eswatini?
Yes, there are brokers in Eswatini who offer Islamic trading accounts.
What tradable instruments are available in Eswatini?
Traders in Eswatini can trade with a wide selection of instruments, including, but not limited to, CFDs, stocks, currency pairs, indices, commodities, and equities.
