As with most countries in Africa, forex trading has seen a significant increase in popularity across Namibia over the past few years. Although forex trading is illegal without government approval in Namibia, many brokers and traders consider it to be a grey area. In order to trade forex in Namibia, you need to get approval from the ministry of finance, invest a seven figure capital and be willing to accept high tax on potential profits.
Despite that, many brokers situated outside of Namibia offer their retail services to the country’s residences and anyone can invest in forex trading with as little as $5. As such local residents are advised to trade with a broker who is authorized by the Bank of Namibia – https://www.bon.com.na/
If you want to learn more about forex trading and how it works , click here to visit our Beginners Guide to Forex.
Featured Forex Brokers
Forex Regulation in Namibia
The Bank of Namibia is the regulatory body for all financial services and activities in Namibia. It was established in 1990 and is fully owned by the government. Nevertheless, it is not required to get authorization from the Bank of Namibia, in order to offer financial services and forex trading to the residences of Namibia.
Best Forex Brokers In Namibia
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working along side with the brokers. All information povided by the brokers are double checked to guarantee 100% accuracy and that we remain unbiased.