This Best Forex Brokers in Ethiopia review conducted in South Africa shows that Forex trading has experienced a surge in popularity throughout the African continent, and traders in Ethiopia are no exception. Bolstered by faster and more reliable internet connection, and an entrepreneurial demographic, Forex trading has taken the country by storm.
In this article, we explore the 27 Best Forex Brokers in Ethiopia, offering advanced and secure features and conditions that will allow you to take your trading to the next level.
FXTM
Overview
FXTM is a licensed and well-regulated broker with an impressive list of awards. FXTM offers many different payment methods, tight spreads, PAMM accounts, trading in all currency pairs as well as a wide range of other financial products and derivatives and a minimum deposit of $10.
FXTM or ForexTime is owned and managed by FT Global Limited and ForexTime Limited and has its headquarters located in Limassol, Cyprus. FXTM was established in 2012 by Andrey Dashin, who is well known as the founder of online broker Alpari.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | US Clients not allowed |
| Low minimum deposit | Restricted leverage for EU-clients |
| Strictly regulated | |
| Variety of account types offered | |
| Variety of financial instruments offered |
Features
| Feature | Information |
| Regulation | CySEC, FCA, FSC, FSCA |
| Minimum deposit from | $10 |
| Average spread from | 0.0 pips |
| Commissions from | $2 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
IQ Option
Overview
IQ Option is one of the leading online trading platforms. It allows you to trade a wide variety of popular financial instruments like binary options, stocks, forex, ETFs, commodities, and cryptocurrency.
It is operated by IQ Options LTD and was founded recently in 2013, making it one of the youngest platforms in its category.
Despite this, it is considered to be one of the most popular and fastest-growing trading platforms. It boasts of over 48 million registered users and over one million transactions per day.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions available | Low leverage |
| Excellent customer service | |
| Intuitive platform | |
| Well-regulated | |
| Wide range of tradable assets |
Features
| Feature | Information |
| Regulation | CySEC, FCA |
| Minimum deposit from | $10 |
| Average spread from | Variable |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:30 |
| Bonuses | None |
| Customer Support | 24/5 |
Olymp Trade
Overview
Olymp Trade is an online options broker owned by Saledo Global LLC that has been operational since 2014.
Olymp Trade is a member of The Financial Commission which is the first independent self-regulatory organization and external dispute resolution (EDR) body for the Forex market. It is referred to as FinaCom and based in Hong Kong.
Olymp Trade offers a good mix of assets across currency pairs, commodities, ETFs, CFDs, cryptocurrencies, stocks, and indices.
Pros and Cons
| PROS | CONS |
| Advanced proprietary trading platform | No MetaTrader available |
| Excellent customer support | No social trading available |
| Excellent educational resources | Not the most reputable regulation |
| Low minimum deposit |
Features
| Feature | Information |
| Regulation | The Financial Commission |
| Minimum deposit from | $10 |
| Average spread from | Variable |
| Commissions from | From 0.00400% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 – multilingual |
FxPro
Overview
FxPro, one of the biggest names in the industry, is regulated by the FCA, CySEC, DFSA and the FSCA in South Africa, offering clients trading on Forex, indices, futures, metals, shares and energies.
With support for MT4, MT5, cTrader and their in-house FxPro Edge platform for web and mobile, clients should be able to find a platform that suits their needs.
Pros and Cons
| PROS | CONS |
| Expert analysis from Trading Central | No cryptocurrency trading |
| Multiple modern trading platforms | No managed accounts or social trading |
| Premium trader tools | No US, Iraq, or Canada clients |
| Strict and multiple regulations | Not the lowest commissions |
| VPS access | Not the tightest spreads |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSCA, DFSA, SCB |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | $4.5 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
XM
Overview
XM is a CFD broker regulated by ASIC, CySEC and the IFSC, offering clients trading a reasonable set of assets on Forex, stocks, commodities, indices, metals, and energies. XM leads the Forex industry in terms of education, market analysis and trading conditions.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions | Fixed spreads not offered |
| Negative balance protection offered | US Clients not allowed |
| Well-regulated |
Features
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | $5 |
| Average spread from | 0.0 pips |
| Commissions from | $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:888 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FBS
Overview
FBS is a global ENN/STP brokerage house providing investment and financial services internationally. The company is primarily based in East Asia but provides a range of services across the globe.
At FBS, traders can trade in several currencies as explained in the account types, as well as 6 metals, and CFDs.
The trading currency pairs include all major currency pairs, the Minors as well as exotic currencies.
In the metal’s category, traders can trade Gold, Copper, Platinum and Silver among others, while CFDs feature major indices and futures, among others.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions | High spreads on some accounts |
| Multiple account types offered | Limited tradable assets |
| Social trading supported | Limited trading platform and tools offered |
| Ultra-low minimum deposit requirement | Several countries restricted including US, UK, Japan, Israel, and others |
| Well-regulated |
Features
| Feature | Information |
| Regulation | IFSC, CySEC |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | $6 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:3000 |
| Bonuses | Yes |
| Customer Support | 24/7 |
Alpari
Overview
Alpari was founded in 1998 and is a brand of the Alpari group of companies.
The Alpari group of companies comprises of multiple entities that use the Alpari brand. Alpari offers its clients about 54 trading instruments including forex and CFDs on indices, commodities, cryptocurrencies, and precious metals.
The ECN MT4, PAMM ECN MT4 accounts, the minimum spread in pips is 0 while the average spread in pips is 0.5. For the Nano MT4 account, the minimum and average spread in pips is 2.
Pros and Cons
| PROS | CONS |
| MetaTrader 4 and 5 offered | Fixed spread accounts not offered |
| PAMM Accounts offered | Limited financial instruments offered |
| Superior multilingual customer support | Restriction on traders from some countries |
| Well-regulated |
Features
| Feature | Information |
| Regulation | FSC, FSA, TFC, CRFiN |
| Minimum deposit from | $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 | 24/5 |
HFM
Overview
HFM is a Forex and commodities broker offering both institutional and retail investors the ability to trade Forex and Derivatives online.
HFM offers market-maker execution over a variety of account types that vary in commissions, spreads, and margin rates.
HFM provides access to over 100 securities, 49 currency pairs, and cryptocurrencies including Bitcoin, indices, shares, bonds, gold, silver, energies, commodities and CFDs.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions offered | US Clients not allowed |
| Strictly and well-regulated | |
| Strong international presence | |
| Vast variety of account types offered |
Features
| Feature | Information |
| Regulation | FSCA, DFSA, FSC, CMA, FCA |
| Minimum deposit from | $0 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
eToro
Overview
eToro was founded in 2007 and is authorised and regulated around the world through its different subsidiaries. This includes regulation from the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
eToro provides additional trading features beyond its social trading platform and CopyTrading services.
Users also have the ability to become a Popular Investor and earn money when copied. This allows traders to build their own portfolios and get copied by other clients on the platform while getting paid for it.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Fixed spread accounts not provided |
| Large online trading community | MetaTrader 4 and 5 not offered |
| Leading social trading platform | No US Clients |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, FCA, CySEC |
| Minimum deposit from | $200 |
| Average spread from | 3 pips on EUR/USD |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/6 |
FP Markets
Overview
FP Markets is a provider of CFD and Forex trade platforms providing execution services to clients from over 100 countries from around the world.
The business is 100% Australia owned with its headquarters in Sydney. Founded and regulated by the Australian Securities and Investment Commission (ASIC) in 2005, FP Markets has a strong operational track record over the past 14 years.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | No fixed spread accounts |
| ECN-Pricing model | No US Clients |
| Variety of financial instruments | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, CySEC, SVGFSA |
| Minimum deposit from | AU$100 |
| Average spread from | 0.0 pips |
| Commissions from | US$3 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
Exness
Overview
Exness was founded in 2008 and is regulated by CySEC in Cyprus (number 178/12) as well as the FCA under the Financial Services Register (730729) followed by six EEA registrations in various countries.
Exness keeps their trading accounts simple providing just a Mini and Classic trading account. Though both account’s leverage caps at 200:1, Exness makes it easy to start trading with mini accounts requiring only a $1 minimum deposit making it a popular choice for the new trader.
They also offer technical support in 14 different languages, with the website localized in 22 different languages.
Pros and Cons
| PROS | CONS |
| High maximum leverage offered | Accounts are not multi-currency |
| Powerful trading platforms supported | US Clients not allowed |
| Strictly regulated | |
| Variety of financial instruments |
Features
| Feature | Information |
| Regulation | CySEC, FCA, SFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | From $3.5 per lot per side |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | None |
| Customer Support | 24/5 – multilingual |
Tickmill
Overview
Tickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.
Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Cryptocurrency trading not supported |
| Powerful trading platforms supported | Fixed spreads not offered |
| Strictly regulated by multiple regulatory entities | US Clients not allowed |
| Variety of financial instruments | |
| Variety of trading tools offered |
Features
| Feature | Information |
| Regulation | FCA, CySEC, FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.0 pips |
| Commissions from | From $1 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
XTB
Overview
XTB is a global CFD and forex broker that got its start in 2002 as X-Trade and rebranded as X-Trade Brokers two years later. The latest incarnation, XTB Online Trading or XTB, came in 2009. The broker went public on the Warsaw Stock Exchange in 2016 under the same name.
XTB is best known for its web-based trading platform, xStation 5. The system gives traders access to more than 3,000 different markets, such as cryptocurrency, commodities, metals, forex, stocks, and ETFs.
Pros and Cons
| PROS | CONS |
| Competitive trading conditions offered | EU Clients restricted to leverage of 1:30 |
| Islamic Account provided as a standalone account | Fixed spreads not offered |
| Negative balance protection offered | US Clients not allowed |
| Strict regulation | |
| Variety of financial instruments |
Features
| Feature | Information |
| Regulation | ACPR, BaFin, CNMV, FCA, IFSC, KNF |
| Minimum deposit from | $250 |
| Average spread from | 0.1 pips |
| Commissions from | $3.50 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
IC Markets
Overview
IC Markets launched in 2007. Its daily forex trade volume is massive. IC Markets is the largest single online forex/CFD brokerage in the world. The platform has also garnered kudos for what many believe to be the lowest spreads in the EU.
Pros and Cons
| PROS | CONS |
| Hedging and scalping allowed | Fixed spreads not offered |
| Low trading and non-trading fees | US Clients not allowed |
| Social trading supported | |
| Strictly regulated | |
| Tight and competitive spreads |
Features
| Feature | Information |
| Regulation | ASIC |
| Minimum deposit from | $200 |
| Average spread from | 0.0 pips |
| Commissions from | $3 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | None |
| Customer Support | 24/5 |
AvaTrade
Overview
AvaTrade is an online brokerage firm offering its global customers access to forex and Contracts-for-Difference (CFD) trading in shares, bonds, indices, ETFs, commodities, and cryptocurrencies.
The firm also offers spread betting to residents of the United Kingdom and Ireland. AvaTrade customers have access to several customizable trading platforms.
Traders can choose between the proprietary AvaTradeGo platform and the industry leading MetaTrader4 (MT4) platform for manual trading.
Pros and Cons
| PROS | CONS |
| Award-winning broker | Only one account type for either retail or professionals |
| Competitive trading conditions | US Clients not allowed |
| Fast trade execution | Variable spreads not offered |
| Social trading offered | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, BVI, CBI, FFAJ, FSA, FSCA |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | Yes |
| Customer Support | 24/5 |
FXCM
Overview
FXCM was one of the first brokerage firms to offer online forex trading to retail traders. The two kinds of trading available at FXCM are contracts-for-difference (CFDs) and spread betting.
Products include forex, shares, indices, commodities, cryptocurrencies, and baskets. The broker offers a variety of platforms to trade on, including MetaTrader 4, NinjaTrader, ZuluTrade, and the Trading Station Mobile App for iOS and Android users.
Pros and Cons
| PROS | CONS |
| Access to AutoChartist and PsyQuation premium | EU clients restricted to 1:30 leverage |
| Client funds kept in segregated accounts | Fixed spread accounts not offered |
| Commission-free trading offered | US Clients not allowed |
| MetaTrader 4 NextGen offered | |
| Well-regulated by reputable regulatory entities |
Features
| Feature | Information |
| Regulation | FCA, ASIC, FSCA |
| Minimum deposit from | $50 |
| Average spread from | 0.2 pips on EUR/USD |
| Commissions from | $0.10 on CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
Trading 212
Overview
Trading 212 is an online broker that offers forex and securities trading to everyday people. The company was started back in 2004 and its headquarters are in London.
Trading 212 is under the regulation of the UK Financial Conduct Authority (FCA), a well as by the Bulgarian Financial Supervision Commission.
One of its main focuses as a broker is on having a low-cost model for traders. You have access to forex and CFD trading, as well as being able to buy and sell real stocks and ETFs.
Pros and Cons
| PROS | CONS |
| Competitive trading fees | Limited independent research tools |
| Fast and streamlined account opening | |
| Fast execution | |
| User friendly trading platform | |
| Wide range of assets |
Features
| Feature | Information |
| Regulation | FCA, FSC, OCC |
| Minimum deposit from | $1 |
| Average spread from | 0.1 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:300 |
| Bonuses | No deposit bonus |
| Customer Support | 24/5 |
RoboForex
Overview
Operated by the RoboForex Group, which also operates RoboMarkets. The RoboForex website is the global presence for the company, and because of that it is domiciled in Belize, even though the parent company has its headquarters in the European Union.
The RoboForex website is licensed and regulated in Belize, operating under license number 000138/107.
The RoboForex brand has been around since 2009, and because it is a global brand it has become the most popular of the RoboForex Group brands with over 2,291,006 clients in more than 169 countries as of 2018.
Pros and Cons
| PROS | CONS |
| Flexible account types offered | Fixed spread accounts not offered |
| Multiple trading platforms supported | No US Clients |
| Negative balance protection provided | |
| Strictly regulated |
Features
| Feature | Information |
| Regulation | IFSC |
| Minimum deposit from | $10 |
| Average spread from | 0.0 pips |
| Commissions from | $0.0045 |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/7 |
BDSwiss
Overview
Founded in 2012, BDSwiss is a responsible and well-regulated broker, popular with both beginner and experienced traders. It offers account types suitable for both beginners and more experienced traders, including a Raw Account with spreads down to 0 pips.
Pros and Cons
| PROS | CONS |
| Advanced trading tools offered | Fixed spreads not offered |
| Commission-free accounts offered | Restricted leverage for EU-clients |
| Competitive trading conditions | US Clients not allowed |
| More than 250 financial instruments | |
| Strict regulation |
Features
| Feature | Information |
| Regulation | CySEC, FSC, NFA |
| Minimum deposit from | $200 |
| Average spread from | 1.1 pips |
| Commissions from | $4 |
| Deposit/Withdrawal Fees | Some fees may apply |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
NordFX
Overview
NordFX is a brokerage company that serves clients across the globe and offers a full range of services for online trading.
You can use NordFX to trade silver and gold or currencies in the forex market. It also offers the ability to invest in global stocks with a high income and capital protection of up to 100 percent.
NordFX prides itself on offering minimal spreads with immediate order execution. The spreads on major currency pairs are just 0.2 to 2 pips, lower than most competitors.
Pros and Cons
| PROS | CONS |
| Advanced trading platforms | Limited research tools |
| High maximum leverage | No social trading available |
| Low minimum deposit |
Features
| Feature | Information |
| Regulation | VFSC, CySEC |
| Minimum deposit from | $10 |
| Average spread from | 0.0 pips |
| Commissions from | 0.0035% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | $8 No deposit bonus |
| Customer Support | 24/5 |
IronFX
Overview
IronFX is a Cyprus-based Forex and CFD broker that has offices around the world and is available to speculators and investors in Europe, UK, Australia, and more.
It offers more than 200 trading instruments across 6 different asset classes, including Forex, metals, indices, commodities, futures, and shares. The broker promises 24/5 multilingual support, ultra-fast execution of trades within milliseconds, and the lowest market spreads, starting from 0.0 pips.
Pros and Cons
| PROS | CONS |
| Easy account opening | Limited customer support |
| Excellent deposit and withdrawal conditions | |
| Low fees |
Features
| Feature | Information |
| Regulation | FCA |
| Minimum deposit from | $100 |
| Average spread from | 0.3 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | 1% Sharing Bonus |
| Customer Support | 24/5 |
Interactive Brokers
Overview
Interactive Brokers is the largest U.S.-based electronic brokerage firm by volume of daily average revenue trades.
Interactive Brokers is an excellent choice for active and advanced traders who are looking to cut commissions. Although the service offers a variety of features and analytical tools, it is not meant for beginners.
Pros and Cons
| PROS | CONS |
| Comprehensive trading conditions | Fixed spread accounts not offered |
| Innovative platforms supported across multiple devices | Islamic Account option not offered |
| Multiple trading tools offered | MetaTrader not offered |
| Multi-regulated | Restricted leverage for some jurisdictions |
| Variety of accounts and options offered |
Features
| Feature | Information |
| Regulation | US SEC & CFTC, ASIC, FCA |
| Minimum deposit from | $0 |
| Average spread from | Variable spreads – not indicated |
| Commissions from | Tiered or fixed – not indicated |
| Deposit/Withdrawal Fees | After the first free withdrawal |
| Maximum Leverage | 1:400 |
| Bonuses | None |
| Customer Support | 24/5 |
Pepperstone
Overview
Pepperstone is an online forex, spread betting, and CFD broker with more than 57,000 clients in 65+ countries. Pepperstone clients can trade CFDs on forex, shares, indices, cryptocurrencies, commodities, and currency indices across three popular trading platforms.
Pros and Cons
| PROS | CONS |
| Award-winning customer support | No fixed spread accounts |
| Competitive trading conditions | No US Clients |
| Hedging and scalping allowed | |
| Social trading offered | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, FCA, DFSA |
| Minimum deposit from | $200 |
| Average spread from | 1 pip |
| Commissions from | AU$3.5 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | Yes |
| Customer Support | 24/5 |
EasyMarkets
Overview
Founded in 2001, easyMarkets (then easyForex) was one of the first online brokers. The broker offers easyTrade, Freeze Rate and dealCancellation tools, all intended to assist new traders and keep trading transparent and simple.
In 2018, easyMarkets won the Most Innovative Broker 2018 at the World Finance Markets Awards.
Pros and Cons
| PROS | CONS |
| Commission-free trading offered | Forex spreads start from 1 pip |
| Fixed spread accounts offered | US Clients not allowed |
| Free guaranteed stops | Variable spread accounts not offered |
| Negative balance protection | |
| Well-regulated |
Features
| Feature | Information |
| Regulation | ASIC, CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.9 pips |
| Commissions from | $0 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Yes |
| Customer Support | 24/5 |
OctaFX
Overview
OctaFX is a CySEC regulated STP/ECN broker founded in 2011 that will appeal to all Forex traders, both beginners and professionals. They have an excellent analytical section and offer a range of useful trading tools such as AutoChartist, copy trading and an account monitoring service.
Pros and Cons
| PROS | CONS |
| Advanced trading technology | No educational resources |
| Excellent customer service | No VPS available |
| Good regulation | |
| Good research tools | |
| Over 30 Forex pairs available |
Features
| Feature | Information |
| Regulation | CySEC, FMA |
| Minimum deposit from | $100 |
| Average spread from | 0.4 pips |
| Commissions from | None |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | No |
| Customer Support | 24/5 |
FX Primus
Overview
FXPRIMUS is an STP market maker founded in 2009 and fully regulated. A multi-asset broker, FXPRIMUS offers multiple tradable instruments including Forex, Commodities, Energies, Indices on the MT4 platform.
Pros and Cons
| PROS | CONS |
| Commission free accounts | No fixed spread accounts |
| ECN Accounts | No US clients |
| Negative Balance Protection | |
| Segregated accounts | |
| VPS Service |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $100 |
| Average spread from | Variable spreads – not indicated |
| Commissions from | $0 – $5 |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | None |
| Customer Support | 24/5 |
HYCM
Overview
HYCM is a trustworthy broker with a strong reputation in the Forex community. Boasting a long and successful history, having been operational since 1977, HYCM also offers multi-jurisdictional regulation and has won 15 reputable awards over the years.
Pros and Cons
| PROS | CONS |
| Fast execution | Limited platform options |
| Tight spreads | |
| Well-regulated broker | |
| Wide range of assets |
Features
| Feature | Information |
| Regulation | FCA, CySEC, DFSA, CIMA |
| Minimum deposit from | $100 |
| Average spread from | 1.8 pips |
| Commissions from | $4 per round turn on Raw account only |
| Deposit/Withdrawal Fees | Yes |
| Maximum Leverage | 1:200 |
| Bonuses | 25% Deposit Bonus |
| Customer Support | 24/5 |
FAQ
What is forex trading?
Foreign Exchange, or Forex, trading involves the buying or selling of currencies on the forex market, which is the largest financial market in the world.
Which forex brokers are the best in Ethiopia?
The brokers provided on the list above are some of the most reputable and well-regulated brokers in the industry who offer forex trading for residents of Ethiopia
Can beginners trade in forex?
Yes. Anyone can start trading forex by starting with the basics, which involves basic education into what forex is, how it works, and several other topics.
Do these forex brokers offer demo accounts?
Yes. Most of these brokers offer traders with the option of registering a demo account.
Are these forex brokers regulated and safe to use?
Yes, these forex brokers are well-regulated by reputable regulatory entities, therefore, client fund safety is assured when dealing with these brokers.
Top 4 Brokers
