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8 Best Forex Brokers in Zambia ( Why you should consider forex trading) – Zambian Watchdog

The Forex Market is the largest and most accessible markets of them all, and it experiences substantially high volumes on a daily basis with transaction to the value of more than $5 trillion being executed within a 24 hour time period.

Overview of Forex Trading in Zambia

The Forex Market is the largest and most accessible markets of them all, and it experiences substantially high volumes on a daily basis with transaction to the value of more than $5 trillion being executed within a 24 hour time period.

There has been an influx in traders taking to the Forex Market for various reasons, one being the attempt to secure an alternative income due to economic duress as result of the Covid-19 pandemic.

There has been an influx in Forex trading especially in various African countries recently, due to more brokers welcoming traders from numerous African countries, providing them with an opportunity to partake in the largest financial market in the world.

Beginner Zambian traders will need to ensure that they gain sufficient Forex trading knowledge by making use of various guidelines and tutorials before they attempt to start trading to avoid substantial loss of capital due to novice errors.

Various brokers offer educational tools and resources that aid beginners in starting their Forex trading journey, and in addition, they offer the use of demo accounts which act as practice accounts.

These demo accounts offer beginner Zambian traders with the opportunity to build up their trading skill and experience with the added advantage that it is a risk-free trading environment that mirrors that of a live trading environment.

There are numerous brokers that accept Zambian traders, and when comparing between them, it will depend on the Zambian trader’s trading needs and objectives in deciding which broker is better suited.

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

All currency conversions performed in this article have been done between the US Dollar and the Zambian kwacha at the current exchange rate on the day and at the time that this article was written.

Best Forex Brokers recommended for Zambian traders

ThinkMarkets is an Australian-based ECN and STP broker with regulation through ASIC, and FCA. As a well-regulated, global online broker, ThinkMarkets facilitates the trade of Forex, commodities, cryptocurrency, stocks, and many more financial instruments.

Should Zambian traders wish to make use of this broker, there is a minimum deposit of 4, 540.06 ZMW which allows traders access to leverage of 1:500, variable and tight spreads, and relatively low and competitive commissions on trades.

ThinkMarkets supports the use of MetaTrader 4 and Trade Inceptor and supports a variety of payment methods through which deposits and withdrawals can be made.

eToro is a Cyprus-based broker with multiple regulations through ASIC, FCA, and CySEC in providing online trading facilitation of multiple financial instruments including Forex, commodities, cryptocurrency, indices, and several others.

In opening an account with eToro, Zambian traders will be expected to deposit a minimum of 3,632.05 ZMW when opening an account, providing them with tight and variable spreads, leverage up to 1:400, and commission free trading.

eToro provides its own proprietary platform through which trades can be executed along with an array of payment methods which are supported for deposits and withdrawals.

Trading 212 is a STP broker headquartered in Bulgaria and the U.K with regulation through both the FCA and FSC, respectively. Trading 212 facilitates the trade of Forex, commodities, cryptocurrency, stocks, shares, and many other financial instruments.

Zambian traders who open an account with this broker will be liable to pay a minimum deposit from as little as 18.16 ZMW which provides them access to leverage up to 1:300, variable spreads, and commission free trading.

Trading 212 provides its own proprietary trading platform through which trades can be executed either on web or mobile devices and Zambian traders can make use of an array of payment methods when making deposits or withdrawing funds.

Pepperstone is an Australian-based ECN and STP broker which is authorized and regulated by ASIC, FCA, and DFSA in facilitating trading of Forex, commodities, cryptocurrency, stocks, shares, and numerous other financial instruments.

When opening an account, Zambian traders can expect minimum deposit requirements of 3,632.05 ZMW, leverage of up to 1:500, variable and tight spreads, and ultra-low commissions charged on trades.

Zambian traders can make use of either MetaTrader 4, MetaTrader 5, or cTrader through which trades can be executed and various payment methods which are supported through which deposits and withdrawals can be made.

FXPrimus is a Cyprus-based ECN and STP online broker which is regulated by CySEC, FSCA, and VFSC, and facilitates the trading of Forex, commodities, cryptocurrency, stocks, shares, metals, CFDs, and other financial instruments.

The minimum deposit required when opening an account with FXPrimus is 1,816.03 ZMW and Zambian traders can expect leverage up to 1:1000, variable spreads and low commissions which are charged on trades.

When trading, Zambian traders can make use of MetaTrader 4 either on desktop PC, web browsers, or mobile devices. FXPrimus supports the use of various payment methods through which deposits and withdrawals can be made.

HYCM is an ECN and STP online broker with offices in the U.K, Cyprus, UAE, and the Cayman Island with respective regulation through CIMA, CySEC, DFSA, and the FCA. HYCM facilitates the trade in Forex, commodities, stocks, and more.

When opening an account with HYCM, Zambian traders can expect a minimum deposit requirement of 1,816.03 ZMW, leverage of up to 1:200, fixed and variable spreads and relatively low commission charges on trades.

Zambian traders have a choice between using either MetaTrader 4 or Metatrader 5 when trading. HYCM supports a variety of payment methods through which deposits and withdrawals can be made. is based in the United States, U.K, and Japan with multi-regulation and authorization through ASIC, CFTC, FCA, FSA, IIROC, JFSA, and NFA in facilitating the online trading of Forex, commodities, stocks, indices, CFDs, and numerous other instruments.

Should Zambian traders open an account with, there is a required minimum deposit of 908.01 ZMW which provides traders with access to leverage of 1:50, variable spreads and average commission charges. supports the use of MetaTrader 4 but also offers its own proprietary trading platform as well and deposits and withdrawals can only be done through Bank Wire Transfer or Credit/Debit Cards.

NordFX is a STP, ECN, and NDD online broker based in Vanuatu and Cyprus with respective regulation and authorization through VFSC and CySEC in providing trading facilities for Forex, commodities, cryptocurrency, stocks, and other financial instruments.

The minimum deposit required when opening an account is 181.60 ZMW and NordFX offers leverage of up to 1:1000, fixed and variable spreads, and extraordinarily low commissions charged on trades.

Zambians can trade by making use of MetaTrader 4 which can be used either on desktop PCs, web browsers or mobile devices. NordFX supports an array of payment methods which can be used to make deposits as well as withdrawals.

Final Thoughts

With more brokers accommodating traders from African countries, including Zambia, Zambian traders have more access to an array of options where brokers are concerned.

When choosing a broker, Zambians will need a clear understanding of their trading and financial objectives along with their trading needs and what they expect from their broker.

Zambian traders can make use of demo accounts provided by these brokers to gain a more in-depth view of the brokers’ trading conditions in a risk-free environment by using virtual funds instead of the trader’s own capital.

Open a Free Trading Account Now.

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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:


The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).


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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral


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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.


Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Visit . for more interesting Infographics

Guys did an amazing job and was allowed to share.


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