10 Best Micro Currency Trading Platforms in Rwanda
The 10 Best Micro Currency Trading Platforms in Rwanda revealed. We tested and verified the best micro currency trading platforms with a minimum deposit for Rwandan Traders.
This is a complete list of the best micro currency trading platform brokers in Rwanda.
In this in-depth guide you’ll learn:
- What are micro currency platforms?
- Who are the best micro currency platform brokers?
- How to choose a forex broker – Compare them side by side by tightest spread and best leverage.
- Which brokers are best for beginner traders.
- What is the difference between a micro account and a cent account?
- Which brokers offer a sign-up bonus to first-time traders?
And lots more…
So if you’re ready to go “all in” with the best-tested micro currency brokers for Rwandans…
Let’s dive right in…
10 Best Forex Brokers in Rwanda for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
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- Louis Schoeman
Best Micro Currency Trading Platforms in Rwanda – Comparison
| 🏛️ Broker | ✔️ Micro Currency Trading Platform? | 💰 Minimum Spread | 📊 Franc Account? | 💳 RWF Deposits Allowed? | 👉 Open An Account |
| 1. Exness | Yes | From 0.0 pips EUR/USD | Yes | Yes | 👉 Open Account |
| 2. FXTM | Yes | From 0.0 pips | No | No | 👉 Open Account |
| 3. Alpari | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
| 4. HFM | Yes | From 0.0 pips | No | Yes | 👉 Open Account |
| 5. RoboForex | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
| 6. OctaFX | Yes | From 0.0 pips EUR/USD | No | Yes | 👉 Open Account |
| 7. XM | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
| 8. FBS | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
| 9. JustMarkets | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
| 10. SuperForex | Yes | From 0.0 pips | Yes | Yes | 👉 Open Account |
10 Best Micro Currency Trading Platforms in Rwanda
- Exness – Overall, the Best Micro Account Trading Platform
- FXTM – Best Overall Demo Account Broker
- Alpari – Best Rwandan Customer Support
- HFM – Best Copy-Trading Account for Rwandans
- RoboForex – Best Social Trading Platform
- OctaFX – Best Trade Execution Broker
- XM – Most Reliable Low-Cost Trading Broker
- FBS – Best Mobile Trading App for Rwandans
- JustMarkets – Best Social Trading App
- SuperForex – Best Franc Trading Account
1. Exness
Overall Rating
- 4.9/5
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Established in 2008, Exness has emerged as a prominent player in the forex and CFD market. The broker has gained significant popularity over the years. Rwandan traders are presented with a variety of trading accounts that offer favorable conditions and numerous advantages.
Moreover, Exness facilitates micro lot trading starting from 0.01 lots and provides a dedicated Standard Cent Account. This account grants traders access to forex and metals, with competitive spreads beginning at 0.3 pips for EUR/USD.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💸 Minimum Deposit | 100,68 Franc |
| 📱 Trading Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 💳 Rwandan Franc-based Account? | Yes |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips EUR/USD |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 200 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Well-regulated by the FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, Exness is a broker with a high trust score | Exness does not offer a range of educational materials |
| Exness caters for both beginner and professional traders in Rwandan | There are only 200 tradable instruments offered |
| Rwandan traders can register a Franc-denominated account with Exness | |
| The broker offers a range of trading accounts including a cent account, which is dedicated to traders who want to trade micro-lots |
2. FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
FXTM is one of the best STP and ECN forex brokers in Rwanda that offers beginner and advanced traders a Micro Account that can be used for a variety of purposes.
FXTM is geared towards offering beginner traders a low-risk trading environment while simultaneously offering advanced traders the resources they need to add a competitive edge to their trading.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💸 Minimum Deposit | 24,56 Franc |
| 📱 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
| 💳 Rwandan Franc-based Account? | Yes |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | Unlimited |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| FXTM offers a dedicated Micro Account to Rwandan traders | There are inactivity fees charged on dormant accounts |
| There are low minimum deposit requirements | |
| There are several convenient funding options offered | |
| Deposit fees are not charged by FXTM | |
| Educational tools are offered to beginner Rwandan traders | |
| Rwandan traders have access to local support | |
| There is a dedicated Franc account offered |
3. Alpari
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Alpari has been in operation since 1998 and it is one of the best options for Rwandan traders who want access to a wide range of global markets. Alpari offers a choice between four live trading accounts, one of which is a Micro Account.
Alpari offers competitive trading conditions, low minimum deposit requirements, and a range of trading assets
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| 📱 Social Media Platforms | • Facebook |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Forex Standard Account (MT4), Forex Micro Account (MT4), Forex ECN Account (MT4/5), Forex Pro Account (MT4) |
| 💻 Trading Platform | MetaTrader 4 and 5 |
| 💸 Minimum Deposit | 2,46 Franc |
| 📱 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 💳 Rwandan Franc-based Account? | Yes |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.4 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 250 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Alpari is an award-winning CFD broker that offers tailormade solutions to Rwandan traders | There are no fixed spread accounts offered |
| Both MetaTrader 4 and 5 are offered, and Alpari offers proprietary CopyTrade features | There is a limited selection of tradable instruments |
| There is a dedicated support team for Rwandan traders | There is a limited range of educational materials and trading tools |
| There are unique and comprehensive trading solutions offered | |
| Alpari offers an Islamic account as well as a demo account | |
| There are several flexible convenient funding options offered |
4. HFM
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
HFM is a popular and low-risk forex and CFD broker with a high trust score. HFM is well-regulated and offers a range of trading accounts, including a Micro Account, to Rwandan traders.
HFM offers MetaTrader 4 and MetaTrader 5 across several devices, including an innovative mobile trading app, giving Rwandans the flexibility they need in fast-paced financial instruments.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 💻 Trading Platform | MetaTrader 4 and 5 |
| 💸 Minimum Deposit | 4,91 Franc |
| 📱 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💳 Rwandan Franc-based Account? | Yes, along with ZAR and USD |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 60 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| HFM is multi-regulated and provides a transparent, fair, and secure trading environment | Only a few payment methods are offered by HFM for deposits and withdrawals |
| There are low and competitive spreads offered to Rwandan traders | There are only a few base account currency options |
| There is a Micro Currency Account offered to both beginners and seasoned traders | |
| Beginner traders have access to a range of educational materials | |
| There are advanced trading tools available to seasoned traders | |
| HFM offers an attractive affiliate program |
5. RoboForex
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
RoboForex is an extremely versatile CFD, and Forex broker based in Belize, offering Rwandan traders a choice between five retail accounts, one of which is a ProCent Account that is designated for micro currency traders.
RoboForex offers a large range of financial instruments that can be traded over a selection of powerful, innovative trading platforms, including reliable mobile apps for Rwandan traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | International Financial Services Commission (IFSC) |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Prime Account, ECN Account, R StocksTrader Account, ProCent Account, Pro Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader, R StocksTrader, R MobileTrader |
| 💸 Minimum Deposit | 10,07 Franc |
| 📱 Trading Assets | Forex, Stocks, Indices, ETFs, Commodities, Metals, Energy Commodities, Cryptocurrencies |
| 💳Rwandan Franc-based Account? | No |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 500 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| RoboForex offers a massive range of trading instruments | RoboForex does not offer fixed spread accounts |
| There are ultra-low minimum deposit requirements | RoboForex is a market maker broker that takes the opposite side of the trade against traders |
| RoboForex offers a choice between flexible trading accounts, including a Micro Account for Rwandan | Inactivity fees may apply to dormant accounts |
| There are several research tools for experienced traders | There is a withdrawal fee charged on several withdrawal options |
| RoboForex has won several forex industry awards | |
| RoboForex has Verify My Trade (VMT), which shows superior trade execution speeds | |
| RoboForex offers comprehensive social trading platforms and several opportunities |
6. OctaFX
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 known as a reliable CFD and forex trading provider that has been in operation since 2011. OctaFX is known for its reliable trade execution along with its STP and ECN execution models. OctaFX caters extensively to both beginner and professional traders in Rwanda, offering a selection of retail investor accounts.
OctaFX offers two retail investor accounts, both with the option of trading positions as small as 0.01 lots. In addition, OctaFX offers competitive spreads and the benefit that Rwandan traders can use a range of trading strategies.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, SVG FSA |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| ⚖️ CBN Regulation? | None |
| 📱 Trading Accounts | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, OctaFX App |
| 💸 Minimum Deposit | 101,91 Franc |
| 📱 Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies. |
| 💳Rwandan Franc-based Account? | No |
| 💰RWF Deposits Allowed? | No |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | 0.6 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 500 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| OctaFX is an award-winning forex and CFD broker | There is a limited selection of financial markets that can be traded |
| Trades are commission-free and there are no fees on either deposits or withdrawals | There are only two account types offered |
| OctaFX offers an Islamic and demo account | There is no Franc-denominated account and RWF deposits could attract currency conversion fees |
| Rwandan traders have access to trade positions from as little as 0.01 lots | |
| There are comprehensive copy-trading opportunities offered |
7. XM
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
Established in 2009, XM is an award-winning broker with a high rating and high popularity in Rwanda as a reputable forex and CFD broker. XM accepts traders from around the world and is widely known as one of the most liquid brokers in the region.
XM offers Rwandan traders a choice between four retail investor accounts, with the benefit that a Micro Account is offered, with access to smaller position sizes, lower risks, and negative balance protection.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💸 Minimum Deposit | 4,91 Franc |
| 📱 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares |
| 💳 Rwandan Franc-based Account? | No |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 100 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| There is a multi-regulated framework that protects Rwandan traders and ensures that they get the best trading environment | There is no Franc-denominated account |
| There is negative balance protection applied to XM’s accounts for retail traders | Inactivity fees are applied when the trading account becomes dormant |
| Rwandan traders can use a range of trading strategies while trading with XM | |
| There is a dedicated Micro Account offered with competitive trading conditions | |
| XM offers a wealth of educational materials and advanced trading tools |
8. FBS
Overall Rating
- 4.7/5
Min Deposit
1 USD / 1 020 RWF
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
250
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 / 142 877 RWF
Account Activation Time
Instant
Overview
Established in 2009, FBS is a reliable international forex and CFD broker that offers its services and solutions to traders from around the world. FBS uses both STP and ECN execution models to ensure that Rwandan traders receive the best possible pricing when they trade several financial markets.
FBS offers a choice between several trading accounts to Rwandan traders, including a Cent and Micro Account, with competitive trading conditions and a range of unique features.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IFSC, CySEC |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| ⚖️ CBN Regulation? | None |
| 📱 Trading Accounts | FBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, FBS Crypto Account |
| 💻 Trading Platform | FBS Trader, MetaTrader 4, MetaTrader 5, CopyTrade Platform |
| 💸 Minimum Deposit | 982,25 Franc |
| 📱 Trading Assets | Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies |
| 💳Rwandan Franc-based Account? | No |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 500 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| FBS is regulated by the International Financial Services Commission (IFSC) of Belize. While not specifically regulated in Rwanda, FBS operates under the oversight of a recognized regulatory authority, which can provide some level of assurance regarding their operations and client protection. | While FBS is regulated by the IFSC of Belize, it is important to note that it may not be directly regulated by the financial authorities in Rwanda. |
| FBS offers a diverse range of trading instruments, including currency pairs, commodities, indices, and cryptocurrencies. This provides traders in Rwanda with various options to explore and diversify their portfolios. | FBS imposes withdrawal fees on certain payment methods. Traders in Rwanda should review the fee structure and choose withdrawal options accordingly to minimize costs. |
| FBS provides different account types to cater to the needs of various traders in Rwanda. | |
| FBS supports popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). | |
| FBS provides educational resources, including articles, tutorials, webinars, and market analysis, to help traders in Rwanda |
9. JustMarkets
Overall Rating
- 4.4/5
Min Deposit
USD1
Regulators
FSA, CySec
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
JustMarkets is a CFD and forex broker that is well-known for its competitive trading conditions which consisted of tight spreads, a range of trading instruments, and high leverage up to 1:3000, among several other features.
JustMarkets offers access to MetaTrader 4 and MetaTrader 5 along with the innovative JustMarkets trading app. Rwandan traders have several convenient funding methods for deposits and withdrawals, with the benefit that Franc can be used, exempting traders from currency conversion fees.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Authority (FSA) in Seychelles |
| 📱 Social Media Platforms | • Facebook • Telegram |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Standard Cent Account (MT4), Standard Account (MT4), Pro Account (MT4), Raw Spread Account (MT4), Standard Account (MT5), Pro Account (MT5), Raw Spread Account (MT5) |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, JustMarkets App |
| 💸 Minimum Deposit | 982,25 Franc |
| 📱 Trading Assets | Indices, Energies, Forex, Metals, Cryptocurrencies, Shares, Futures |
| 💳 Rwandan Franc-based Account? | No |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 100 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| JustMarkets offers a range of social trading opportunities to Rwandan traders | There is an inactivity fee charged when the trading account becomes dormant |
| Rwandan can choose between several account types | Deposit fees are applied to cryptocurrency deposits |
| Rwandan traders can start trading immediately using the no-deposit bonus that is offered to newly registered traders | |
| JustMarkets offers competitive trading conditions across all account types | |
| Rwandan traders can make deposits and withdrawals in Franc |
10. SuperForex
Overall Rating
- 4.5/5
Min Deposit
USD 1
Regulators
IFSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Established in 2013, SuperForex is a Belize-based broker that offers Rwandan traders some of the most comprehensive trading solutions, a choice between trading accounts, and the benefit that trading can be done in the Rwandan Franc.
SuperForex offers its traders the option of a Micro Cent Account with high leverage, a low minimum deposit requirement, and fixed, competitive spreads. SuperForex also offers a range of bonuses and promotions to allow traders to start trading immediately
Unique Features
| Feature | Information |
| ⚖️ Regulation | None |
| 📱 Social Media Platforms | • Telegram • YouTube |
| ⚖️ CBN Regulation? | No |
| 📱 Trading Accounts | Standard Account, Swap-Free Account, No Spread Account, Micro Cent Account, Profi STP Account, Crypto Account, ECN Standard Account, ECN Standard Mini Account, ECN Swap-Free Account, ECN Swap-Free Mini Account, ECN Crypto Account |
| 💻 Trading Platform | MetaTrader 4, SuperForex App |
| 💸 Minimum Deposit | 982,25 Franc |
| 📱 Trading Assets | Forex, Precious Metals, Stocks, Indices, Cryptocurrencies, Commodities, Energies, ETFs, Futures, CFDs |
| 💳 Rwandan Franc-based Account? | Yes |
| 💰 RWF Deposits Allowed? | Yes |
| 💵 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 📉 Minimum trade size | 0.01 lot |
| 📈 Maximum trade size | 100 lots |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| There are eleven account types to choose from | MetaTrader 5 is not offered to Rwandan traders |
| Rwandan traders have access to a selection of convenient funding options | There is a limited selection of trading tools and resources |
| There are Islamic accounts offered to Muslim traders in Rwanda | |
| There is a demo account offered | |
| Rwandan can register a trading account in Rwandan Franc | |
| There is an extremely low minimum deposit requirement |
The Basics Of Micro Currency Accounts and Trading
Micro currency accounts and trading are fundamental aspects of forex trading that cater to traders with smaller capital.
Micro currency accounts are specifically designed to accommodate traders who wish to engage in forex trading with lower investment amounts. These accounts allow traders to trade in smaller lot sizes, typically starting from 1,000 units of the base currency. This enables traders with limited funds to participate in the forex market and gain exposure to various currency pairs.
Trading with micro currency accounts offers several benefits. Firstly, it allows traders to practice their trading strategies and gain experience without risking substantial amounts of capital. Additionally, it provides the opportunity to manage risk more effectively by allowing traders to trade smaller positions and adjust their position sizes accordingly.
Micro currency accounts are particularly suitable for beginners who are just starting their trading journey or those who prefer to trade with lower risk. They offer a stepping stone for traders to gradually increase their trading capital and move on to standard or larger accounts as they gain confidence and experience in the market.
In summary, micro currency accounts and trading provide a flexible and accessible option for traders with smaller capital, allowing them to participate in the forex market and develop their trading skills while managing risk effectively.
Tips for Rwandans with Micro Currency Trading
Start with a solid trading plan:
Before diving into micro-currency trading, develop a well-defined trading plan that outlines your goals, risk tolerance, and strategies. This will help you make informed decisions and navigate the market effectively.
Focus on risk management:
As a trader with limited capital, it’s crucial to prioritize risk management. Use proper risk management techniques, such as setting stop-loss orders and managing position sizes, to protect your capital and minimize potential losses.
Choose a reliable broker:
Select a reputable forex broker that offers micro currency accounts with competitive spreads and reliable trade execution. Ensure the broker is regulated and has a good track record to safeguard your funds and provide a secure trading environment.
Learn and educate yourself:
Continuous learning is essential in forex trading. Invest time in understanding market analysis, trading strategies, and economic indicators. Utilize educational resources, webinars, and demo accounts provided by brokers to enhance your knowledge and skills.
Start small and gradually increase position sizes:
With micro currency accounts, it’s advisable to start with smaller position sizes and gradually scale up as you gain experience and confidence. This approach allows you to test strategies and manage risk effectively while minimizing potential losses.
Stay disciplined and patient:
Forex trading requires discipline and patience. Stick to your trading plan, avoid impulsive decisions, and don’t chase quick profits. Maintain a long-term perspective and focus on consistent, sustainable growth.
Monitor market news and events:
Stay updated with economic news, announcements, and events that can impact currency markets. This information can help you make informed trading decisions and capitalize on market opportunities.
Keep emotions in check:
Emotions can often influence trading decisions. Maintain emotional discipline and avoid making impulsive trades based on fear or greed. Stick to your trading plan and rely on rational analysis rather than emotions.
Utilize risk-free practice:
Many brokers offer demo accounts where you can practice trading without risking real money. Use these accounts to familiarize yourself with the platform, test strategies, and gain confidence before trading with real funds.
Seek guidance and mentorship:
Consider joining trading communities, or forums, or finding a mentor who can provide guidance and share their experiences. Learning from experienced traders can help accelerate your learning curve and provide valuable insights.
Remember, forex trading is inherently risky, and there are no guaranteed profits. It’s important to approach micro currency trading with a realistic mindset, manage risk effectively, and continuously educate yourself to improve your trading skills over time.
How to Choose a Forex Broker
When selecting a forex broker, consider the following factors:
Regulation and Licenses:
Ensure the broker is regulated by a reputable financial authority. This provides a level of protection for your funds and ensures the broker operates under certain guidelines and standards.
Security of Funds:
Look for brokers who segregate client funds from their operational funds. This ensures that your funds are protected and can be returned to you in case of any financial issues with the broker.
Trading Platform:
Evaluate the broker’s trading platform. It should be user-friendly, and stable, and offer the necessary tools and features for your trading style. Consider whether it supports your preferred trading instruments and has mobile accessibility if you need to trade on the go.
Spreads and Commissions:
Compare the spreads and commissions offered by different brokers. Lower spreads result in lower trading costs, which can significantly impact your profitability, especially for frequent traders.
Account Types: Check if the broker offers account types that suit your trading needs. Common options include standard accounts, mini/micro accounts, or even specialized accounts for specific trading strategies.
Customer Support:
Ensure the broker provides responsive and reliable customer support. Test their support channels, such as live chat, email, or phone, to gauge their promptness and helpfulness.
Deposit and Withdrawal Methods: Consider the available deposit and withdrawal options. Check if they offer convenient and secure payment methods that are accessible to you. Also, verify the withdrawal process and any associated fees.
Educational Resources:
Look for brokers that provide educational materials, webinars, tutorials, or trading tools to help enhance your trading knowledge and skills. This can be beneficial, especially for beginners.
Reputation and Reviews:
Research the broker’s reputation and read reviews from other traders. Consider their track record, customer feedback, and any notable awards or recognitions they have received.
Additional Features:
Evaluate any additional features or services offered by the broker. This may include access to research tools, market analysis, trading signals, or even social trading platforms.
Best Micro Trading Platform For Rwandan Traders
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex offers a powerful proprietary trading platform that supports social trading opportunities and provides Rwandan traders with the best trading workstation.
Best Trade Execution Broker in Rwanda
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
OctaFX is our choice from this list as the forex broker that offers the best trade execution, filling 97.5% of orders that are received, with the benefit that there are no requotes and minimal slippage.
Best Mobile Crypto Deposits
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
OctaFX not only offers a proprietary trading platform that offers a range of functions to support the active trading operations of Rwandan traders, but it also offers fast and reliable crypto deposits through mobile, providing Rwandans with a significant amount of flexibility.
Most Reliable Low-Cost Trading Broker for Seasoned Rwandan 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
XM is a reputable broker with comprehensive trading solutions that include low-cost trading, competitive commissions, and low minimum deposit requirements. In addition, XM also offers innovative and comprehensive trading tools and research to support seasoned Rwandan traders.
Best Mobile Trading App in Rwanda
Overall Rating
- 4.7/5
Min Deposit
1 USD / 1 020 RWF
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
250
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 / 142 877 RWF
Account Activation Time
Instant
FBS is our top selected mobile trading app in Rwanda, offering a range of useful features and functions, including the option to deposit and withdraw funds, manage, and open trades, access market news, set up alerts, and more.
Best Social Trading Mobile App
Overall Rating
- 4.4/5
Min Deposit
USD1
Regulators
FSA, CySec
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Social trading is one of the best ways for beginner traders to experience live markets and JustMarkets offers the perfect tool. Through the native JustMarkets app, MetaTrader 4, and MetaTrader 5 mobile app, Rwandan traders have access to a range of options, including Expert Advisors (EA).
Best Franc Trading Account Forex Brokers in Rwanda
Overall Rating
- 4.5/5
Min Deposit
USD 1
Regulators
IFSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
One of the best benefits for Rwandan traders is to find a broker that offers a Franc-denominated account, and therefore we chose SuperForex. In addition to offering eleven trading accounts that suit the different needs and objectives of a variety of traders, SuperForex allows traders to open an account in their local currency.
Best Copy-Trading Account for Rwandan Social 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
HFM is a multi-regulated and trusted broker with a decent market share in Rwanda. This is attributable to its competitive trading conditions and comprehensive solutions, including an innovative Copy-Trading Account, HFCopy, which allows both followers and providers of trading to signal a dedicated platform.
Best Local Customer Support in Rwanda
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Alpari is a trusted CFD and forex broker with offices around the world, including Rwanda. This makes Alpari our #1 choice for providing local customer support to Rwandan traders.
Best overall Rwandan Micro Currency Platform
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
FXTM is our top choice as the overall Rwandan Micro Currency Platform with its selection of accounts and competitive trading conditions. In addition to this, FXTM is also a reliable broker with local support in Rwanda.
Best Demo Account Forex Brokers in Rwandan for Beginners
Overall Rating
- 4.9/5
Min Deposit
USD 10
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Exness is one of the best Rwandan brokers for beginners and while there are not a lot of educational materials offered by the broker, Exness offers a comprehensive demo account through powerful trading platforms, MetaTrader 4 and 5.
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FAQ
How do I choose lot sizes in forex trading?
Choosing the appropriate lot size in forex trading is an important aspect of risk management and position sizing.
How much leverage can I expect from Micro Currency Platforms in Rwanda?
The leverage offered by micro currency platforms in Rwanda can vary, and it’s important to check with specific platforms for their leverage offerings. However, it’s worth noting that leverage availability can be subject to regulations imposed by the financial authorities in Rwanda.
Who should trade Micro lots?
Micro lots are typically suitable for traders who have smaller trading accounts or prefer to trade with smaller position sizes.
Are Micro Currency Platforms in Rwanda Safe?
If the platform has been verified and past reviews have been consulted.
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