
This Best Forex Brokers in Mozambique review conducted in South Africa shows that with most African countries, Mozambique has seen substantial increases in forex trading in recent years. However, even though forex trading is not seen as illegal, it is still considered a grey area with local traders strongly advised only to make use of reputable brokers.
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Exness
Overview
Exness has been in operation since 2008 and is a popular broker offering traders with a vast number of trading opportunities across a range of markets. Traders can expect competitive trading conditions, high leverage, and the use of powerful trading platforms through which trades can be executed seamlessly.
Pros and Cons
PROS | CONS |
Strictly regulated | US Clients not allowed |
High maximum leverage offered | Accounts are not multi-currency |
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 |

XM
Overview
XM is one of the largest brokers in the industry, serving more than 2.5 million traders from 196 countries around the world. XM offers some of the best trading services and most competitive trading conditions in the industry.
Traders have a choice in dynamic and flexible accounts, a plethora of bonuses, promotions, and contests, and powerful trading platforms through which trades can be executed over multiple devices seamlessly.
Pros and Cons
PROS | CONS |
Competitive trading conditions | No fixed spread accounts offered |
Negative balance protection | US clients not accepted |
Strict regulation through FCA | |
Variety of account types offered |
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 |

Axiory
Overview
Based in Belize and in operation since 2007, Axiory is a ENC and STP broker which is regulated and authorized to facilitate online trades by the IFSC. Axiory consists of a team of committed and dedicated visionaries who aim to deliver innovative approaches for the trade in forex and CFDs.
Axiory provides traders with advanced trading technologies and infrastructure. Traders can expect competitive trading and non-trading fees and pricing, and access to powerful trading platforms.
Pros and Cons
PROS | CONS |
Access to AutoChartist | Additional commissions on Islamic Account |
cTrader, MetaTrader 4 and FIX API offered | Cryptocurrency trading not offered |
Financial Commission member | Fixed spread accounts not offered |
Regulated | Limited financial instruments offered |
Segregated client funds | US Clients not accepted |
Features
Feature | Information |
Regulation | IFSC |
Minimum deposit from | $50 |
Average spread from | 0.2 pips EUR/USD |
Commissions from | $6 per lot |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:777 |
Bonuses | None |
Customer Support | 24/5 |

IC Markets
Overview
IC Markets has been in operation since 2007 and is one of the largest ECN brokers in the industry, serving traders from around the world with comprehensive trading solutions. Traders can trade more than 230 financial instruments spread across several asset classes.
IC Markets also offers traders with competitive trading conditions, low trading and non-trading fee schedules, and the use of powerful trading platforms to execute trades.
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 |

IQ Option
Overview
Established in 2013, IQ Option boasts with more than 20 million registered traders. Traders are provided with access to several financial markets through a comprehensive portfolio of tradable financial instruments.
In addition to this, traders are also provided with competitive trading conditions, and the use of IQ Option’s flexible and user-friendly proprietary trading platform.
Pros and Cons
PROS | CONS |
Advanced trading tools | Fixed spread accounts not offered |
Segregated client funds and member of ICF | Restricted leverage for non-professional traders |
Strictly regulated | US Clients not allowed |
User-friendly trading platform | |
Wide variety of financial instruments |
Features
Feature | Information |
Regulation | CySEC |
Minimum deposit from | $10 |
Average spread from | 5 pips on GBP/USD |
Commissions from | $0 |
Deposit/Withdrawal Fees | Some fees may apply |
Maximum Leverage | 1:30 |
Bonuses | No |
Customer Support | 24/5 |

LiteForex
Overview
Established in 2005, LiteForex is a Marshall Island-based CFD and forex broker that can be traded through the powerful and flexible MetaTrader platforms. Traders also have access to advanced trading tools, a variety of social trading opportunities, and a variety of educational resources.
Pros and Cons
PROS | CONS |
Advanced trading tools offered | Commission fees not the cheapest |
Dedicated, multilingual customer support | Limited financial instruments |
MetaTrader offered | No free VPS access |
Social trading supported and offered | US, Israel, and Japan clients not allowed |
Features
Feature | Information |
Regulation | CySEC |
Minimum deposit from | $50 |
Average spread from | 0.0 pips |
Commissions from | $5 per lot |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:500 |
Bonuses | Yes |
Customer Support | 24/5 |

JustForex
Overview
JustForex was established in 2012 and is a broker that offers the trade in more than 170 instruments. JustForex obtains its pricing from more than 18 of the largest banks in the world, offering traders with competitive and transparent fee structures and competitive trading conditions.
Pros and Cons
PROS | CONS |
Adequate education | Commission charges are not the lowest |
Mam accounts offered | Offshore regulation |
MetaTrader 4 and 5 offered | US Clients not allowed |
Social trading supported | Withdrawal fees charged |
Trading tools offered |
Features
Feature | Information |
Regulation | FSA |
Minimum deposit from | $1 |
Average spread from | 0.0 pips |
Commissions from | $8 |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:3000 |
Bonuses | Yes |
Customer Support | 24/7 |

Vantage FX
Overview
Established in 2009, Vantage FX is a reputable and well-regulated broker which was founded by a team of experts in finance, technology, and the forex market. Vantage FX was established with the goal to provide other traders in the market with some of the best solutions and trading conditions that they can find.
Pros and Cons
PROS | CONS |
Commission-free trading offered | No fixed spread accounts |
Over 300 financial instruments | No US Clients |
Well-regulated |
Features
Feature | Information |
Regulation | FCA, ASIC, CIMA, SIBL |
Minimum deposit from | $200 |
Average spread from | 0.0 pips |
Commissions from | $2 |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | Yes |
Customer Support | 24/5 |

FXOpen
Overview
FXOpen was one of the first online trading brokers established and it has become one of the most trusted facilitators of online trading in the world. Traders can expect some of the best trading conditions, a variety of trading tools and technologies, and some of the tightest spreads and lowest commissions.
Pros and Cons
PROS | CONS |
Free VPS access | Fixed spread accounts not offered |
Strict regulation | Limited tradable financial instruments |
Tightest spreads and lowest commissions | No US Clients |
Various tools and technologies offered | Restricted leverage for EU-clients |
Features
Feature | Information |
Regulation | ASIC, FCA |
Minimum deposit from | $1 |
Average spread from | 0.0 pips |
Commissions from | $15 |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:500 |
Bonuses | Yes |
Customer Support | 24/5 |

FortFS
Overview
FortFS is a forex, CFD, and futures broker which is headquartered in Saint Vincent and the Grenadines, with offices in both Indonesia and Malaysia. FortFS caters for traders from around the world whether they are beginners or professionals.
Traders are offered with a choice in dynamic accounts, social trading opportunities, and a variety of research tools that will assist them in refining their trading skills.
Pros and Cons
PROS | CONS |
Managed accounts offered | High commission fees and not the tightest spreads |
Multiple trading platforms offered | Large deposit requirements on premium accounts |
Research tools provided | Limited financial instruments |
Social trading supported | Offshore regulation |
US clients not allowed |
Features
Feature | Information |
Regulation | IFSC |
Minimum deposit from | $5 |
Average spread from | 0.1 pips |
Commissions from | $10 |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:1000 |
Bonuses | Yes |
Customer Support | 24/5 |

Fortrade
Overview
Fortrade was established in 2013 and is headquartered in the United Kingdom and Belarus. Fortrade is a STP broker which offers traders from around the world with a choice in financial instruments which can be traded through powerful trading platforms. Traders are also given access to advanced trading tools, market analysis, and Trading Central.
Pros and Cons
PROS | CONS |
Advanced trading tools | Fixed spread accounts not offered |
Market analysis and news | Non-ECN broker |
Strictly regulated | Spreads have mark-ups |
Trading central offered | US clients not accepted |
Variety of educational materials |
Features
Feature | Information |
Regulation | FCA, ASIC, IIROC, NBRB |
Minimum deposit from | $100 |
Average spread from | 2 pips EUR/USD |
Commissions from | $0 |
Deposit/Withdrawal Fees | Some fees may be charged |
Maximum Leverage | 1:200 |
Bonuses | Yes |
Customer Support | 24/5 |

GO Markets
Overview
Established in 2006, GO Markets is yet another popular name in the trading industry, offering traders with access to more than 250 financial instruments. As an ECN and STP broker, traders can expect some of the most transparent and competitive pricing and trade execution.
Pros and Cons
PROS | CONS |
Commission-free trading offered | No fixed spreads |
Demo account offered | US clients not allowed |
Islamic Account option provided | |
MetaTrader 4 and MetaTrader 5 offered | |
Well- and regulated |
Features
Feature | Information |
Regulation | ASIC |
Minimum deposit from | AU$200 |
Average spread from | 0.0 pips |
Commissions from | $3 per single side |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | Yes |
Customer Support | 24/5 |

Deriv
Overview
Deriv was founded in 2025 and is a STP online trading broker based in Malta, with regulation and authorisation through MFSA, LFSA, VFSC, and BVI FSC. Deriv facilitates the trade of a variety of financial instruments which can be traded through powerful and advanced trading platforms.
Pros and Cons
PROS | CONS |
More than 100 tradable financial instruments offered | Islamic account option not offered |
Multi-regulated | Not the lowest trading fees |
Provision of powerful and advanced trading platforms | Standalone trading tools are not offered |
Several ways to trade | US Clients not accepted |
Variety of account types |
Features
Feature | Information |
Regulation | MFSA, LFSA, VFSC, BVI FSC |
Minimum deposit from | $0 |
Average spread from | 0.1 pips EUR/USD |
Commissions from | None charged |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:000 |
Bonuses | None offered |
Customer Support | 24/7 |

Forex.com
Overview
Forex.com has been offering comprehensive trading solutions and services for the past decade. As a STP, ECN, and DMA broker, Forex.com offers its services to traders from around the world, even those residing in the United States, and welcomes African traders to take advantage of its comprehensive trading solutions.
Pros and Cons
PROS | CONS |
Strictly Regulated | Limited payment methods |
US Clients welcome | Fixed spreads not offered |
Advanced, powerful trading platforms | |
Advanced trading tools offered | |
Execution scorecard |
Features
Feature | Information |
Regulation | ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA |
Minimum deposit from | $50 |
Average spread from | $0.11 on XAU/USD |
Commissions from | $0 – $5 |
Deposit/Withdrawal Fees | No |
Maximum Leverage | 1:50 |
Bonuses | Yes – Active Trader |
Customer Support | 24/5 |

Markets.com
Overview
Markets.com is another popular and well-established STP broker which is headquartered in South Africa, Australia, and Cyprus with corresponding strict regulation to facilitate the trade in online markets.
Traders are offered with commission-free trading accounts, a wide variety of financial instruments, and an array of advanced trading tools which allow traders to refine and hone their trading skills.
Pros and Cons
PROS | CONS |
Strict regulation | No regulation by FCA |
Wide variety of financial instruments | No US Clients |
Commission-free accounts offered | Best trading conditions requires a professional account |
Advanced trading tools | |
Fixed spreads offered |
Features
Feature | Information |
Regulation | ASIC, CySEC, FSCA |
Minimum deposit from | $100 |
Average spread from | 0.6 on EUR/USD |
Commissions from | $0 |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:300 |
Bonuses | Yes |
Customer Support | 24/5 |

Pepperstone
Overview
Pepperstone is a large and well-established ECN and STP broker which is headquartered in the United Kingdom and Australia. Pepperstone caters for both retail and professional traders, offering them with award-winning customer support and some of the best, most comprehensive and competitive trading conditions in the industry.
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 |

Trader’s Way
Overview
As an ECN forex and CFD provider, Trader’s Way offers a variety of financial instruments which can be traded through three powerful trading platforms namely MetaTrader 4, MetaTrader 5, and cTrader.
In addition, traders can also expect a variety of fixed spread accounts, access to VPS, and a variety of trading tools which can be used when trading in global financial markets.
Pros and Cons
PROS | CONS |
Fixed spread accounts offered | Broker not regulated |
Commission-free accounts offered | US Clients not allowed |
ECN broker | UK Clients not allowed |
Free VPS access | Limited non-Forex instruments offered |
Variety of trading tools offered |
Features
Feature | Information |
Regulation | None |
Minimum deposit from | $5 |
Average spread from | 0 pips |
Commissions from | $0 – $3 |
Deposit/Withdrawal Fees | Some fees may apply |
Maximum Leverage | 1:1000 |
Bonuses | Yes |
Customer Support | 24/5 |

City Index
Overview
City Index has been operating in the online trading industry since 1983 and it has grown into a strong, trusted, reputable brand, offering traders from around the world with competitive spreads, negative balance protection, and a range of advanced trading tools which can be used to add a competitive edge to trading.
Pros and Cons
PROS | CONS |
Advanced platforms and tools | Fixed spreads not offered |
Negative balance protection offered | US Clients not allowed |
Strictly regulated | Limited payment methods supported |
Tight spreads, low fees, and superior execution speeds | |
Trading signals provided |
Features
Feature | Information |
Regulation | ASIC, FCA, MAS |
Minimum deposit from | $100 |
Average spread from | 0.5 pips |
Commissions from | $0 |
Deposit/Withdrawal Fees | Some fees may apply |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/5 |

ThinkMarkets
Overview
ThinkMarkets is a trusted and reputable broker which facilitates the trade in global financial markets while offering traders with low trading and non-trading fees, a variety of trading opportunities, VPS, a demo account, swap-free account option for Muslim traders, and some of the best trading conditions imaginable.
Pros and Cons
PROS | CONS |
Strict regulation | No US clients |
Commission-free trading account | Leverage restricted for EU clients |
VPS service | Fixed spread accounts not offered |
Islamic Account option and demo account provided | |
Competitive trading conditions |
Features
Feature | Information |
Regulation | ASIC, FCA |
Minimum deposit from | $250 |
Average spread from | 0.1 pips |
Commissions from | $3.5 per side |
Deposit/Withdrawal Fees | None |
Maximum Leverage | 1:500 |
Bonuses | None |
Customer Support | 24/6 |

Forex.ee
Overview
Forex.ee is an ECN-based broker that is headquartered in Estonia, offering traders from around the world with a choice in dynamic, tailormade account types, ECN technology, one click trading, and competitive, low, and transparent trading and non-trading fees.
Pros and Cons
PROS | CONS |
Variety of account funding options provided | Unregulated |
Variety of accounts offered | Limited trading instruments – only forex and crypto |
PAMM Service provided | Daily market analysis not provided |
One click trading offered | US Clients not accepted |
MetaTrader supported | Fixed spread accounts not offered |
Features
Feature | Information |
Regulation | None |
Minimum deposit from | $50 |
Average spread from | 0.0 pips |
Commissions from | 0.5% of trade volume in base account currency on cryptocurrencies |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:500 |
Bonuses | Yes |
Customer Support | 24/5 |

Trading 212
Overview
Based in the United Kingdom, Trading 212 is a fin-tech broker that offers traders with the trade in more than 2,000 financial instruments through its innovative and user-friendly trading platform.
In addition, traders can also expect commission-free trading options, security of client funds, and low minimum deposits when registering a trading account.
Pros and Cons
PROS | CONS |
Strict regulation | US clients not allowed |
Member of FSCS | Limited leverage for non-professional traders |
Commission-free trading | MetaTrader not offered |
Intuitive and user-friendly trading platform | |
Low minimum deposit |
Features
Feature | Information |
Regulation | FCA, FSC |
Minimum deposit from | $1 |
Average spread from | Not indicated |
Commissions from | $0 |
Deposit/Withdrawal Fees | Some fees may apply |
Maximum Leverage | 1:300 |
Bonuses | None |
Customer Support | 24/7 |

NSFX
Overview
Based in Malta and in operation since 2010, NSFX is an ECN and STP broker which is regulated by MFSA. NFSX offers traders from around the world with the trade in a variety of financial instruments.
NFSX operates according to an ECN model, offering traders with negative balance protection and the guarantee that client fund security is ensured. NSFX offers competitive trading conditions, and the use of powerful trading platforms through which trades can be executed.
Pros and Cons
PROS | CONS |
Both MetaTrader and JForex offered | US Clients not accepted |
Variety of accounts | High minimum deposit |
Competitive trading conditions | Spread list not transparent |
Trading academy provided | |
Trading tools provided |
Features
Feature | Information |
Regulation | MFSA |
Minimum deposit from | $300 |
Average spread from | Variable and fixed spreads |
Commissions from | $8 per lot round turn |
Deposit/Withdrawal Fees | Yes |
Maximum Leverage | 1:50 |
Bonuses | None |
Customer Support | 24/5 |

easyMarkets
Overview
easyMarkets has been offering its comprehensive solutions and services for the past decade. Based in Cyprus, and regulated by the reputable ASCI, CySEC, and FSA, easyMarkets offers traders from around the world with competitive trading conditions, fixed spread accounts, free guaranteed stops, and a variety of tradable financial instruments spread across several markets.
Pros and Cons
PROS | CONS |
Commission-free trading offered | Forex spreads start from 1 pip |
Fixed spread accounts offered | Variable spread accounts not offered |
Free guaranteed stops | US Clients not allowed |
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 | 1:400 |
Bonuses | Yes |
Customer Support | 24/5 |

eToro
Overview
eToro is the leading social online trading platform in the industry, catering effortlessly for both beginner and professional traders through its unique services and solutions. With eToro, traders can trade in a range of financial markets using its competitive trading conditions, a variety of social trading opportunities, and commission-free trading options.
Traders are also offered with access to its proprietary trading platform along with a large online trading community.
Pros and Cons
PROS | CONS |
Well-regulated | No US Clients |
Commission-free trading offered | Fixed spread accounts not provided |
Large online trading community | MetaTrader 4 and 5 not offered |
Leading social trading platform |
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 |

FXTM
Overview
FXTM is a popular name in the industry and has been serving traders from around the world since 2011. FXTM has headquarters in South Africa, the United Kingdom, Mauritius, and Cyprus, with corresponding and strict regulation in each of these jurisdictions to facilitate online trading.
As an ECN and STP broker, traders are granted with access to more than 250 financial instruments, the use of a variety of educational materials, advanced trading tools, and a choice in dynamic, flexible account types that suit the differing needs and objectives of both beginners and professionals.
Pros and Cons
PROS | CONS |
Strictly regulated by several entities | US clients not accepted |
Range of tradable assets | Restricted leverage for EU-clients |
Commission-free trading offered | |
Low minimum deposit required | |
Variety of accounts 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 |

FXCM
Overview
FXCM is a well-regulated STP broker offering retail and institutional traders with a secure trading environment in which they can trade in global financial markets. With FXCM, traders also have access to powerful trading platforms and transparent fee schedules that feature low trading and non-trading costs.
Pros and Cons
PROS | CONS |
Well-regulated | US clients not accepted |
Client funds kept in segregated accounts | EU clients restricted to 1:30 leverage |
Commission-free trading offered | No fixed spreads |
MetaTrader 4 NextGen offered | |
Access to AutoChartist and PsyQuation premium |
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 |

RoboForex
Overview
RoboForex is a reputable and versatile trading broker that offers traders with more than 9,400 financial instruments, a range of powerful trading platforms through which trades can be executed, and an array of tailored trading accounts that suit the varying needs, objectives, styles, and strategies of different traders.
Pros and Cons
PROS | CONS |
Strictly regulated | No US Clients |
Negative balance protection provided | Fixed spread accounts not offered |
Flexible account types offered | |
Multiple trading platforms supported |
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 |
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Frequently Asked Questions
Are Mozambicans allowed to open forex trading accounts?
Yes, forex trading is allowed in Mozambique and traders are advised to only use regulated forex brokers in Mozambique when opening a trading account as there is currently no regulatory framework for forex trading brokers in Mozambique, leaving the door open for scam brokers in the country.
Are Islamic forex trading accounts available in Mozambique?
Yes, many Mozambique brokers support Islamic swap free account for forex traders of the Muslim faith.
What type of forex instruments can you trade in Mozambique?
The type of tradable instruments depend on the choice of broker and overall, traders can look forward to trading in CFDs, ETFs, Indices, Forex and Cryptocurrencies.
Is forex trading in Mozambique unsafe?
To say that forex trading in Mozambique is unsafe is a misconception. The most important thing traders should do to be safe when trading forex, is to make sure that they choose a reputable, regulated forex broker.
Will I have to pay tax on my forex earnings in Mozambique?
Yes, tax is payable on any profits earned from forex trading.
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