Updated: 06/13/2023

Best Forex Brokers in Rwanda

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Best Forex Brokers in Rwanda Forex Trading in Rwanda As with most countries in Africa, forex…

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Best Forex Brokers in Rwanda 2023

Pepperstone

  • Competitive spreads
  • Fast trade execution
  • Many trading platforms
  • Limited educational resources
  • No fixed spread
  • Customer support can be improved
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T&Cs applyCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70%-90% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Review

BlackBull Markets

  • Robust trading technology
  • Multiple account types
  • Best Client Security
  • Limited educational resources
  • High minimum deposit
  • Customer support can vary
Learn More
T&Cs applyCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70%-90% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Review

Vantage

  • Competitive spreads
  • Many Instruments
  • Many trading platforms
  • Limited educational resources
  • Customer support responsiveness can vary
  • High Minimum deposit
Learn More
T&Cs applyCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70%-90% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Review

AvaTrade

  • Many instruments
  • Friendly platforms
  • Multi-Regulated broker
  • Inactivity fees may apply
  • Limited educational resources
  • Customer support response varies
Learn More
T&Cs applyCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70%-90% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Review

XM

  • Low Trading Fees
  • High Bonuses
  • Copy Trading
  • Average forex and stock index CFD fees
  • No investor protection for non-EU clients
Learn More
T&Cs applyCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70%-90% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Review

Forex Trading in Rwanda

As with most countries in Africa, forex trading has seen a significant increase in popularity across Rwanda over the past few years. Although forex trading is not illegal in Rwanda, it is considered a grey area as many brokers offer retail services in the country. Therefore, local residents are advised to trade with a broker who is authorized by the National Bank of Rwanda.

If you want to learn more about Forex trading and how it works, click here to visit our Beginners Guide to Forex.

Forex Regulation in Rwanda

The National Bank of Rwanda is the regulatory body for all financial services and activities in Rwanda. It was established in 1964 in the city of Kigali. Nevertheless, it is not required to get authorization from the National Bank of Rwanda, in order to offer financial services and forex trading to the residents of Rwanda.

However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA or ASIC to make sure your funds are protected.

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Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

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