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8 Best Forex Brokers for Beginners in Botswana

Forex Trading in Botswana – Overview

Like most countries, Botswana traders can easily start trading Forex, this is because it is the most accessible market of all the financial markets, along with being the most liquid yet most volatile markets.

Forex can be traded in a number of ways, this is made easy because there are a significant number of currency pairs that can be traded, and trading can occur 24/5 as the Forex market never closes due to the different time zones in which trading occurs.

There is, however, a weekend gap that traders need to be aware of and traders need to ensure that open positions are closed by the time the trading day concludes on Friday, to avoid being subjected to overnight or swap fees.

Due to the great volume that is being traded on a daily basis, Botswana traders can enjoy the liquidity and lowered transaction costs as result of the sheer traffic the Forex market experiences, with trades being executed at high speeds.

Beginner Botswanan traders need to ensure that they accumulate enough knowledge of the Forex Market and Forex trading before they attempt to trade using a live account by making use of guidelines, tutorials, and other comprehensive educational materials and tools.

Before registering a live account with a Forex broker, it is imperative for Botswana traders to verify the exchange rate along with the deposit, withdrawal and account base currencies supported.

Note that all currency conversions performed in this article have been done between the US Dollar and the Botswana Pula at the current exchange rate on the day and at the time that this article was written.

The Best Forex Brokers recommended for Botswana Traders

1.  IC Markets

IC Markets is an Australian and Seychelles-based ECN broker which is well-regulated and authorized through the reputable ASIC and offers competitive trading conditions to a variety of traders residing in numerous countries around the globe.

When opening an account, Botswana traders can expect a minimum deposit of 2,340.96 BWP, which provides access to numerous tradable financial instruments, leverage of 1:500, variable spreads, and low commissions charged on trades.

2.  RoboForex

RoboForex is a Belize-based market maker and STP broker under strict regulation from IFSC in providing online trading services and access to numerous financial instruments such as Forex, commodities, cryptocurrency, shares, and several others.

In opening an account with this broker, Botswana traders can expect minimum required deposits starting from 117.05 BWP, which provides them with access to leverage of up to 1:1000, variable spreads, average commission charges and reliable trading platforms.

3.  XM

XM is a reputable ECN and STP broker which is strictly regulated by ASIC, CySEC, and IFSC, with its services widespread across the globe in over 196 countries to over 2.5 million clients in offering the trade of Forex, commodities, metals, indices, and more.

When registering a live account, Botswana traders can expect minimum deposits of 58.52 BWP, spreads which are tight and variable, ultra-low commission charges on trades, leverage of up to 1:880 and access to the best trading platforms.

4.  Exness

Exness is a globally-recognized broker with two main offices located in the Seychelles, it is also recognised as a Cyprus-based broker, with regulation and authorization through CySEC, FCA, and SFSA.

The minimum required deposit to open an account with Exness is 11.70 BWP and in opening a live trading account, Botswana traders have access to a variety of tradable financial instruments such as Forex and various CFDs, amongst others.

Exness also supports the use of MetaTrader 4 and MetaTrader 5, leverage of up to 1:1000, tight spreads and no hidden commission charges on trades.

5.  Alpari

Alpari is a STP and ECN broker which is based in Mauritius and holds regulation and authorization from FSC and FSA in facilitating the online trading of Forex, Cryptocurrency, metals, and CFDs.

When opening a live trading account with Alpari, Botswana traders can expect deposits from as little as from 58.52 BWP, which will give access to leverage of up to 1:1000, variable spreads, and exceptionally low commission charges.

Alpari also supports the use of MetaTrader 4 and MetaTrader 5 through which trading activities can be conducted.

6.  Admiral Markets

Admiral Markets is a STP and ECN broker with offices in Australia, U.K, Cyprus, and Estonia with respective authorization and regulation through ASIC, FCA, EFSA, and CySEC in offering the trade of Forex, commodities, cryptocurrency, stocks, and more.

When opening an account with Admiral Markets, Botswana traders will be subjected to a minimum deposit of 2,340.96 BWP, which will allow them to take advantage of leverage of up to 1:500 with low commissions charged on trades, and tight, variable spreads.

7.  LiteForex

LiteForex is a STP and ECN Forex and CFD broker which is headquartered in the Marshall Islands, and is strictly regulated through CySEC in offering its online trading services which allows traders access to trade Forex and various CFDs on various instruments.

The minimum deposit required when opening a live trading account is 585.24 BWP and this provides Botswana traders with leverage of up to 1:500, variable and tight spreads, and access to reputable trading platforms.

8.  BDSwiss

BDSwiss is a multi-regulated and award-winning broker which is based in Cyprus, Mauritius, and Seychelles with respective regulation through CySEC, FSC, and NFA.

The minimum required deposit of 2,340.96 BWP is quite average when compared to brokers who offer similar trading conditions and in opening a live account, Botswana traders have access to a variety of tradable instruments, including Forex.

In addition, BDSwiss supports the use of MetaTrader 4 and MetaTrader 5, and traders can enjoy access to leverage of up to 1:400, tight and variable spreads, and extremely low commissions charged on trades.

Final Thoughts

These brokers cater for a variety of traders despite their varying levels of skill, knowledge, and experience along with catering for millions of traders around the world who reside in various countries.

These brokers cater for Botswana traders with comprehensive and attractive trading conditions that meet the needs of traders whether they are beginners, or experts. Trading fees are transparent and not exuberant.

In addition to this, these brokers use only reputable, well-known, and user-friendly trading platforms including, but not limited to, MetaTrader 4 and MetaTrader 5, which are two of the most popular trading platforms in the trading community.

Open a free Forex Trading Account here.

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Business

Food prices continue to rise, but at a slower rate

28th November 2022

Prices for cereals or staple foods in Botswana and other Southern African countries continue to rise at a slower pace, following trends in the global markets, according to the latest November 2022 Food Price Monitoring and Analysis by Food Agricultural Organization (FAO) of the United Nations.

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Business

Still doing business the old way?

18th November 2022

It’s time to get business done better with MTN Business Botswana’s ICT Solutions.

Running a digital businessMTN Business Solutions Botswana, popularly known as MTN Business is an Internet Service Provider. We are a subsidiary of MTN Group Limited, a multinational telecommunications Group headquartered in South Africa, which operates in 19 markets across Africa and the Middle East.

More and more, clients are looking for ways to keep their staff productive in a dynamically changing business environment. Whether your people are working from home, the office or abroad, there is a growing recognition that digitising your operations can offer unprecedented commercial value in flexibility, productivity and growth. This new, digital reality means that it is more important than ever to stay agile – if there is anything that can slow a business down, it is being burdened by othatld technology.

Having made substantial investments in fibre technology, high-speed terrestrial and undersea networks and new frequency spectrum across the markets wherein it operates, MTN is perfectly positioned to respond to this shift in the market.

A few years ago, MTN also made the decision to build an IP capable radio network for its mobile services, giving its core network the ability to seamlessly integrate with enterprise IP networks. The mobile towers deliver services to enterprise clients absolutely anywhere it has a network, shortening the last mile and removing complexity and cost.

Now there is increasing demand from clients to connect their remote sites in all areas, including rural and semi- rural. MTN has assisted clients with overcoming this connectivity hurdle, enabling their staff to get the job done wherever they are.
MTN’s evolution

For MTN, the focus has shifted from just being a core telecommunications services provider, towards also becoming a technology solutions provider. The service offering now also includes Unified Communications, Data Hosting and Cloud Solutions, Security-As-A-Service and Managed Network Services. The scope has changed to being client and industry specific, so the requirements and service portfolio vary from one client to the next. The expectation is that a company like MTN must respond to these challenges, helping clients to get business done better as they shift from old to new technologies.

As many businesses continue to grapple with a digitally dynamic world, they face new challenges that have to be solved. This environment will benefit those that are more digitally enabled and agile. It is a brave new world that will favour online over on-site, wireless over wired and fluid over formulaic. Businesses will seek out partners and suppliers that are every bit as flexible and forward-looking as they are.
Ultimately, clients need partners like MTN Business that will invest in infrastructure, deliver the services they require, have market credibility, are financially sound and have a long-term commitment to their market presence.

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Business

BIE to vitalize the Dignity of Engineers

9th November 2022

Botswana Institution Of Engineers (BIE), has last week hosted a gala dinner in  which they appreciated engineers who worked tirelessly and with dedication for 10 years from 1983 to steer the BIE to its current status.

The event that was held at the Phakalane Golf Estate had brought together young, experienced and veteran engineers and was held under the theme “Vitalize the dignity and eminence of all professional engineers”.

Explaining the theme, the institution’s treasurer, Thanabalasingam Raveendran said that engineers were looked upon reverentially with respect as the educated but with time it seems to have deteriorated. He indicated that there is a need to change the narrative by all means.

“The BIE exists for the welfare and the betterment of us Botswana engineers, we need to recognize specialised units within our Institution. We Engineers strongly believe in Engineers make it happen” Raveendran said.

He indicated that under the theme they appeal to all engineers to energize, to attain quality of being worthy of honour and respect and to achieve recognized superiority amongst the Society.

Raveendran stated that engineers need to ensure their end product is of good quality satisfying the end users expectations and engineers must be honest in their work.

“Approximately 8000 engineers registered with Engineering Regulatory Board (ERB) are not members of the BIE, engineers need to make every effort to recruit them to BIE” he said.

He alluded that BIE being a society, it currently needs to upgrade itself at par with professional institutions elsewhere like the UK and USA.

He further stated that BIE has to have engineering units of specialised disciplines like Civil/Mechanical/electrical etc

“As President Masisi indicated in his inaugural speech, the young people, who make 60 percent of the population of this country, are the future leaders and therefore investing in them is building the bridge to the future” said Raveendran

Kandima indicated that BIE has a memorandum of Understanding with Engineers Registration Board (ERB), where BIE is a recognised provider of CPD training, mentorship programmes and more importantly IPD undertaking to upgrade the skills and know-how of our engineers.

“For us to achieve our mandate and make worthwhile changes to engineering in Botswana, we have to be totally focused and act with intent” said Kandima.

Furthermore, Stephen Williams, past president of the BIE from 1986-1988 told the engineers that  the BIE provides a fertile environment where they can meet, share ideas and grow professionally.

“The BIE is also a nesting place for graduate engineers to learn from their peers and seniors, it also cater for engineering technicians and technologists and so nobody in the technology field is left out” he said.

He further indicated that Botswana Government provides a conductive environment for growth of engineering professionals.

“It must be stated that the Botswana Government recognises the existence of BIE and it can further be stated that the government enables ERB to carry out its mandate as a regulator of engineering professionals” said Williams

He plead with engineering companies to recognize and support BIE as it is the only source of engineering personnel’s for various Industries .

Furthermore, when giving his farewell speech, Michael Pinard , a past president of the institution  said how they are viewed as engineers by the general public might be due to some lack of appreciation as to exactly what role they play in the development of the country.

“The BIE slogan is aptly coined-Engineers make it happen, in other words, what man dreams engineers create” Said Pinard.

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