7 Best Day Trading Apps in Rwanda
The 7 Best Day Trading Apps in Rwanda revealed. We tested and verified the best day trading apps for Rwandan Traders.
This is a complete list of the best day trading apps in Rwanda.
In this in-depth guide you’ll learn:
- What is a Day Trading App?
- Which day trading platform is the best for Rwandan Traders?
- Which day trading app trades with stocks?
- Which day trading app is best for beginner traders?
- Which day trading app can you trade in cryptocurrency?
- Which Day Trading Apps offer IOS and Android compatibility?
- Which day trading app offers a low minimum deposit of $5 (2 071 RWF)?
- Which brokers offer a signup bonus for first-time traders?
And lots more…
So if you’re ready to go “all in” with the best day trading apps for Rwandans…
Let’s dive right in…
- Louis Schoeman
What is a Day Trading App?
A day trading app is a mobile application specifically designed for traders who engage in day trading. It allows traders to access the financial markets and execute trades from their smartphones or tablets. Day trading apps provide a convenient and portable way to monitor market movements, analyze charts, place trades, and manage positions while on the go.
Best Day Trading Apps in Rwanda (Updated 2024) – Comparison
| 🥇 Broker | ✔️ Android Compatible? | ✔️ IOS Compatible? | 💸 Minimum Deposit | 💰 RWF Deposits Allowed? | 👉 Open An Account |
| 1. TD Ameritrade | Yes | Yes | 1906652,29 RWF | Yes | 👉 Open Account |
| 2. IBKR | Yes | Yes | 0 RWF | Yes | 👉 Open Account |
| 3. HFM App | Yes | Yes | 5088,50 RWF | Yes | 👉 Open Account |
| 4. Tickmill MT4 app | Yes | Yes | 101801,96 RWF | Yes | 👉 Open Account |
| 5. Trading Point App | Yes | Yes | 4,91 RWF | Yes | 👉 Open Account |
| 6. cTrader app from Pepperstone | Yes | Yes | 149,14 RWF | Yes | 👉 Open Account |
| 7. OctaFX app | Yes | Yes | 25,45 RWF | Yes | 👉 Open Account |
7 Best Day Trading Apps in Rwanda (Updated 2024)
- TD Ameritrade – Overall, Best Day Trading App in Rwanda
- IBKR – Best Advanced Trading Features Broker
- HFM App – Best Day Trading App with RWF Accounts
- Tickmill MT4 app – Best MetaTrader4 (MT4) Broker in Rwanda
- Trading Point App – Best Day Trading App with No Commissions
- cTrader App from Pepperstone – Best Broker with No Withdrawal Fees
- OctaFX App – Best Low Deposit Trading App in Rwanda
1. TD Ameritrade
Overall Rating
- 4.7/5
Min Deposit
$0
Regulators
SEC, FINRA, CFTC, MAS
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
TD Ameritrade’s iPhone and Android apps are designed to increase day trading capabilities. Rwandan traders can trade stocks, options, futures, and currencies using TD Ameritrade Mobile.
More than 300 technical charts and indicators make it easy to keep track of your positions. Select securities can be traded 24 hours a day, seven days a week, with 24/5 trading. A wide range of international markets and specific sectors are available to Rwandan investors.
With this robust app from TD Ameritrade, users can trade stocks, ETFs, and options, monitor their portfolio, set price alerts, access watchlists, and get 3rd-party research all from the same place.
Unique Features
| Feature | Information |
| 📱 Associated Broker | TD Ameritrade |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
| 💸 Fees Charged | Spreads, commission, minimum deposit |
| 📈 Crypto trading offered? | No |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 3.5/5 • App Store – 4.5/5 |
| 💳 Minimum deposit | 1906652,29 Rwandan Franc to open a margin account |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Trade stocks and exchange-traded funds (ETFs) without paying a commission. | Fractional shares are not offered |
| It is completely free to do research. | High minimum deposit to open a margin account, which is required for day trading |
| Trading platforms of superior quality. | |
| There is no minimum account size. | |
| Excellent client service. | |
| There is a large selection of investments. |
2. IBKR
Overview
Interactive Brokers has been chosen the best online broker by Barron’s for the past four years in a row, enhancing investment automation and services throughout the course of four decades.
A total of 135 markets in 23 currencies are available to Rwandan IBKR clients from over 200 countries. Hedge funds, proprietary trading groups, financial advisors, and brokers in Rwanda all benefit from IBKR’s advanced technology.
Low execution costs, high-quality trading services, portfolio management tools, research services, and a wide choice of investment products are offered by the company to its Rwandan customers.
Unique Features
| Feature | Information |
| 📱 Associated Broker | Interactive Brokers |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Forex stocks, options, futures, crypto and bonds |
| 💸 Fees Charged | Spreads, commission, transaction fees, inactivity fees |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 3.1/5 • App Store – 2.9/5 |
| 💳 Minimum deposit | None |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| A diverse range of products and services available throughout the world and across asset classes | The SmartRouter feature of IBKR is not available to IBKR Lite clients. |
| Order execution that is second to none | It can be scary for those who are less experienced and less active. |
| Trading instruments of exceptional quality | There will be no backtesting of proprietary trading algorithms or automated trading in the future. |
| Interest rates on margins are at historically low levels. |
3. HFM App
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
The HFM app from HFM features a slew of useful trading tools. There is unfortunately no free service like Autochartist, which other brokers offer.
HFM’s own in-house market research is housed in the HFM app. It focuses on a market news blog that focuses on fundamental and technical analysis and trader education, as well as market analysis.
Rwandan traders are able to obtain monthly and quarterly forecasts, video analyses, special reports, and intraday charts from here.
Additionally, Rwandan traders are able to listen to the HFM podcast, which provides a detailed look at current market moves and a preview of upcoming events that could affect the market.
According to HFM’s experts, their in-house research is on par with that of other prominent international Forex brokers, which is a good thing.
Unique Features
| Feature | Information |
| 📱 Associated Broker | HFM |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💸 Fees Charged | Spreads, commission, inactivity fees |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 4/5 • App Store – 3.9/5 |
| 💳 Minimum deposit | Yes |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There are tight, competitive spreads from 0.0 pips on EUR/USD | HFM only offers a few deposit and withdrawal methods to Rwandan |
| There is a demo account for beginners who are learning to trade and professional traders who are testing strategies | |
| Rwandan traders can register a trading account in either USD, ZAR, or RWF | |
| Several asset classes can be traded through HFM | |
| Rwandan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms |
4. Tickmill MT4 app
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
It is possible to access your trading account from any location at any time using MetaTrader 4’s mobile platform. Other traders can also benefit from the free chat feature.
With the help of automated trading robots known as Expert Advisors, MetaTrader 4 provides an automated trading capability (EAs). It is possible to use EAs to assess quotes and make trades.
These robots, or EAs, can be downloaded for free from Code Base, a library of free EAs, indicators, and scripts. The Market, an online retailer, also sells and rents them. Professional MetaTrader freelance developers also offer the option of customizing EAs.
Unique Features
| Feature | Information |
| 📱 Associated Broker | Tickmill |
| ✔️ iOS compatible | No |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 💸 Fees Charged | Spreads, commissions |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 3.8/5 • App Store – 4/5 |
| 💳 Minimum deposit | Yes |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Tickmill offers robust trading platforms and innovative mobile trading | Currency conversion fees will apply for Franc deposits |
| Tickmill has a very high trust score and is known for its competitive trading conditions | There are no fixed spread accounts offered |
| There are several convenient funding options available including Skrill, Neteller, and others | The spreads are not the tightest |
| Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others |
5. Trading Point App
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Newbies and experienced traders in Rwanda alike can benefit from XM’s online FX and commodity trading app. Traders can open a genuine account with the trading program or test the waters with a $ 100,000 USD virtual currency trial account platform.
Auto trading, no hidden costs or commissions, and 99.35 percent order executions in less than a second are some of the features of this broker service.
XM’s Trading Point app is a smooth-running, multi-featured platform for Rwandan day traders that provides speedy execution.
Unique Features
| Feature | Information |
| 📱 Associated Broker | XM |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares |
| 💸 Fees Charged | Spreads, commissions, minimum deposit |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 4.6/5 |
| 💳 Minimum deposit | Yes |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| XM has more than 5 million active clients from around the world | Inactivity fees apply |
| Client fund safety is guaranteed, and XM offers investor protection to Rwandan traders | There are no fixed spreads offered |
| XM has won several industry awards since its establishment in 2009 | |
| There are no commissions charged on either deposits or withdrawals | |
| XM is a low-cost forex broker with a high trust score |
6. cTrader App from Pepperstone
Overall Rating
- 4.9/5
Min Deposit
200 USD / 21 7071 RWF
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
The cTrader app is easy to use and has a sleek, contemporary look. Indicators and tools are included “out of the box” with cTrader to help you get the most out of the financial markets and your trading. Installing cTrader is highly recommended if you want a more immersive trading experience.
It provides direct access to the interbank market and other features, including algorithmic-based trading systems, a wide variety of pre-sets, and detachable charts. Trading in volatile markets is made easier with improved charting and order management tools.
Unique Features
| Feature | Information |
| 📱 Associated Broker | Pepperstone |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | • Forex • Cryptocurrencies • Shares • ETFs • Indices • Commodities • Currency Indices |
| 💸 Fees Charged | Spreads, commissions, minimum deposit |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| 🥇 Ratings | • Google Play – 4.6/5 • App Store – 5/5 |
| 💳 Minimum deposit | Yes |
| ✔️ Demo Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone ensures client fund security by keeping it in segregated accounts | Rwandan traders do not have a Franc-denominated trading account |
| Pepperstone is both a multi-regulated and multi-award-winning broker | There are additional fees applied to the Islamic account |
| Pepperstone caters for all types of traders despite their trading experience or style | There are some leverage restrictions |
| Well-regulated by some of the top market regulatory entities | |
| Pepperstone accepts Rwandan traders and provides a plethora of educational material for beginners | |
| There is a demo account and Islamic account offered | |
| There are several funding options offered to traders | |
| Deposit fees and withdrawal fees are not charged |
7. OctaFX App
Overall Rating
- 4.6/5
Min Deposit
USD 5
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
OctaFX is the place to go if you want an ECN Forex broker and CFDs on indices, metals, and cryptocurrencies.
In terms of forex trading apps offered to Rwandan traders, OctaFX stands out as one of the best due to its user-friendly interface, dot mapping capabilities, and industry-lowest fees. Custom indicators, experienced advisors, a VPN, and more are all included in the program.
Unique Features
| Feature | Information |
| 📱 Associated Broker | OctaFX |
| ✔️ iOS compatible | Yes |
| ✔️ Android Compatible | Yes |
| 💵 Assets offered | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies. |
| 💸 Fees Charged | Spreads, Overnight Fees |
| 📈 Crypto trading offered? | Yes |
| ✔️ User-friendly? | Yes |
| ⌨️ Reviews | • Google Play – 103,900 Votes • App Store – 375 Reviews |
| 🥇 Ratings | • Google Play – 4.3/5 • App Store – 4.5/5 |
| 💳 Minimum deposit | 100,74 Rwandan Franc equivalent to $100 |
| ✔️ Demo Account | Yes |
| 📱 Rwandan Market Share | 3% |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Instant deposits and instant withdrawals are available | Limited account base currency options |
| Copy-Trading accounts are offered through the app | Limited selection of retail investor accounts |
| There are several social trading opportunities | Limited selection of tradable instruments |
| All types of traders are welcome | |
| Offers commission-free trading to Rwandan traders | |
| Unlimited virtual trading platform |
How to choose a Forex trading app for experienced traders
Even though each forex trading platform and app seeks to fill a specific gap in a certain niche market, the most reputable and trustworthy trading applications all share the following aspects:
Competitive spread conditions
As a forex trader in Rwanda, “spread” is your forex broker’s compensation on your deal when the bid and ask price of a currency diverge.
Even though most spreads are merely a fraction of a single unit of the currency you’re dealing with, high-frequency traders may soon see a big percentage of their profits eaten away by fees.
Be sure to search for a good forex broker that charges reasonable fees, as this will help you limit your losses. While it is necessary to budget for spreads and commissions, you should not go over the budget.
To make the best potential trades, Rwandan day traders will need the most up-to-date value information on a currency at all times.
Since mobile devices have less processing capacity than desktop PCs, this can cause issues during transactions.
Before committing to an app, conduct a few short test trades to confirm that it can provide you with the trade and streaming speed you require to execute your currency trades on your chosen forex trading app.
Advanced features
When it comes to using forex trading software, advanced analytics, and tracking assist you discover the best currencies to buy or sell on any given trading day in Rwanda. Selecting a currency shorting app is another option.
Currency alerts, software-driven notifications, and historical data ensure that you’re making the right decisions at the right time.
When it comes to spending their hard-earned money, investors never know what to expect from the markets, so advanced analytical capabilities in a chosen app can help them make the best decisions.
How to choose a Forex broker
Spreads and Fees:
Compare the spreads and fees charged by different brokers. Low spreads can help minimize your trading costs, especially for frequent traders. Be aware of any hidden fees, such as withdrawal fees or inactivity fees, that may impact your profitability.
Leverage Options:
Check the leverage options provided by the broker. Leverage allows you to trade larger positions with a smaller initial investment. However, it also increases the risk, so make sure you understand and are comfortable with the leverage offered.
Customer Support:
Reliable customer support is essential. Look for a broker that offers responsive customer support through various channels, such as phone, email, or live chat. Test their support before opening an account to ensure they are prompt and helpful in addressing your queries.
Account Types:
Consider the different types of trading accounts offered by the broker. They may have different features, minimum deposit requirements, and trading conditions. Choose an account type that aligns with your trading goals and preferences.
Educational Resources:
Evaluate the educational resources provided by the broker. This can include trading tutorials, webinars, eBooks, and market analysis. A broker that offers educational resources can be valuable, especially for beginner traders.
Deposit and Withdrawal Methods:
Check the deposit and withdrawal options offered by the broker. Ensure they support convenient and secure payment methods that are accessible to you. Also, consider the withdrawal process, including any fees or restrictions.
Reputation and Reviews:
Research the broker’s reputation and read reviews from other traders. Look for feedback on their reliability, customer service, and overall trading experience. Be cautious of brokers with a history of complaints or negative reviews.
By considering these factors, you can choose a forex broker that aligns with your trading needs, offers a secure trading environment, and provides the necessary tools and support for your trading success.
The Best Forex Brokers in Rwanda
In this article, we have listed the best day trading apps for experienced Rwandan traders. Of these, we have identified the brokers which offer additional services for Rwandan traders.
Best Forex broker with free research for experienced Rwanda day traders
Overall Rating
- 4.7/5
Min Deposit
$0
Regulators
SEC, FINRA, CFTC, MAS
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, TD Ameritrade is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Rwanda. Regarding spread and security, TD Ameritrade guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, TD Ameritrade has over 11 million registered clients.
Best Forex broker with advanced trading features for experienced Rwandan day traders
Overall Rating
- 4.7/5
Min Deposit
$0
Regulators
SEC, FINRA, CFTC, MAS
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Interactive Brokers is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Rwanda. Regarding spread and security, Interactive Brokers guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, TD Ameritrade has over 1.6 million registered clients.
Best Forex broker with RWF accounts for experienced Rwandan day traders
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, HFM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker or day trader in Rwanda. Regarding spread and security, HFM guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, HFM has over 2.5 million registered clients around the world.
Best MT4 app Forex broker for experienced Rwandan day traders
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Tickmill is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Rwanda. Regarding spread and security, Tickmill guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, Tickmill has over 38 000 registered clients in the UK.
Best commission-free Forex broker for Rwandan day traders
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, XM is considered a low-risk broker and can be summarised as a trustworthy and reliable market-making broker for day trading in Rwanda. Regarding spread and security, XM guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, XM has over 5 million registered clients around the world.
Best Forex broker with no withdrawal fees for Rwandan day traders
Overall Rating
- 4.9/5
Min Deposit
200 USD / 21 7071 RWF
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Pepperstone is considered a low-risk broker and can be summarised as a trustworthy and reliable agency execution broker for day trading in Rwanda. Regarding spread and security, Pepperstone guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, Pepperstone has over 8000 registered clients in the UK.
Best low deposit Forex broker for experienced Rwanda day traders
Overall Rating
- 4.6/5
Min Deposit
USD 5
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, OctaFX is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for day trading in Rwanda. Regarding spread and security, OctaFX guarantees fast trading speeds from a few milliseconds when day trading in Rwanda. In terms of users, OctaFX has over 800 00 registered clients in the UK.
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FAQ
Which are the best day trading apps?
There are several popular day trading apps available that cater to different trading styles and preferences.
What is a Forex trading app?
A Forex trading app is a mobile software that can be downloaded to your mobile device to facilitate trading on the go.
What is day trading in Forex?
Day trading in Forex refers to a trading strategy where traders open and close positions within the same trading day.
Can I make money from day trading Forex?
Yes, it is possible to make money from day trading Forex. Many traders have been successful in generating profits through day trading strategies. However, it’s important to note that day trading is a challenging endeavor, and not everyone will achieve consistent profitability.
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