7 Best Social Trading Platforms in Rwanda
The 7 Best Social Trading Platforms in Rwanda revealed. We tested and verified the best Social and Copy Trading Platforms in Rwanda.
This is a complete guide to social trading platforms in Rwanda.
In this in-depth guide you’ll learn:
- What is a social trading platform?
- What are the best social trading platforms?
- What to consider before social trading?
- How to choose the ideal social trading platform – Compare them side by side against each other.
- Which broker offers the best Copy Trading Platform?
- What is the difference between copy trading and social trading platforms?
- Which brokers offer a sign-up bonus for first-time traders?
- Which broker offers a low minimum deposit of $5 (5086 RWF)?
And lots more…
So if you’re ready to go “all in” with the top social trading and copy trading brokers’ platforms…
Let’s dive right in…
10 Best Forex Brokers in Rwanda for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
. 
- Louis Schoeman
Best Social Trading Forex Brokers in Rwanda – Comparison
| 🏛️ Broker | 📱Social Trading? | 📊 Franc Account | 💳 RWF Deposits | 💰 Bonuses | 👉 Open An Account |
| 1. Exness | ✔️ Yes | Yes | Yes | Yes | 👉 Open Account |
| 2. eToro | ✔️ Yes | No | No | Yes | 👉 Open Account |
| 3. FBS | ✔️ Yes | Yes | Yes | Yes | 👉 Open Account |
| 4. AvaTrade | ✔️ Yes | No | No | Yes | 👉 Open Account |
| 5. FXTM | ✔️ Yes | Yes | Yes | Yes | 👉 Open Account |
| 6. NAGA | ✔️ Yes | No | Yes | Yes | 👉 Open Account |
| 7. Pepperstone | ✔️ Yes | No | No | No | 👉 Open Account |
What is a Social Trading Platform?
A social trading platform serves as an internet-based platform that empowers traders to partake in social trading, a practice that entails the sharing, following, and automated replication of real-time trading activities performed by other traders.
On a social trading platform, traders have the opportunity to observe and track the trades executed by successful traders. They can choose to follow and replicate the trades of these experienced traders, either manually or through automated copying systems. This way, less experienced traders can benefit from the expertise and insights of more skilled traders, potentially improving their own trading performance.
7 Best Social Trading Platforms in Rwanda (2024)
- Exness – Overall, the Best Social Trading Platform in Rwanda
- eToro – Top Proprietary Social Trading App
- FBS – Best Mobile App for Rwandan Traders
- AvaTrade – Best International Forex Broker
- FXTM – Largest RWF Market Share Broker
- NAGA – Best Social Trading Accounts for Rwandan
- Pepperstone – Best MetaTrader 4/MT4 Forex Broker
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
Exness, founded in 2008, has become a renowned brand in the FX and CFD markets over the years. Rwandan traders have a range of trading accounts to choose from at Exness, each with its own unique benefits and drawbacks.
Exness provides dedicated social trading solutions, including the Social Standard and Social Pro accounts, designed specifically for Rwandan traders interested in participating in this innovative form of trading. These accounts are tailored to meet the needs of those who wish to engage in social trading, allowing them to connect with other traders, share strategies, and potentially replicate the trades of successful traders.
With the Social Standard and Social Pro accounts, Rwandan traders can take advantage of the social trading features offered by Exness, enhancing their trading experience and potentially improving their trading outcomes.
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 | 100,10 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 |
Pros and cons
| ✔️ Pros | ❌ Cons |
| Regulated by a variety of severe and demanding bodies, ensuring the safety of client funds | The spreads on social trading are not the tightest |
| Rwandan traders may choose from several different accounts | There is a high minimum deposit involved when Rwandan participate in social trading |
| Mobile money solutions allow Rwandan to make and withdraw money instantly | There are limited markets available to trade through Exness |
| Customer service is available around the clock | |
| There are dedicated social trading accounts offered to Rwandan traders |
2. eToro
Overall Rating
- 4.8/5
Min Deposit
USD 50
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
Overview
There is no doubt that eToro stands out as one of the most renowned social trading networks globally. Rwandan traders seeking to engage in social trading through a well-regulated leader in this field need not search further than eToro.
is a trading platform that stands out for its extensive offering of financial instruments. Traders using eToro gain access to a diverse range of options, including over 2,400 equities and 250 exchange-traded funds (ETFs) from 17 international markets. But what truly sets eToro apart is its integration of a social aspect into every market available on the platform.
The Copy Trading tool offered by eToro is top-rated and unique. This feature allows you to replicate the trades of an eToro trader in a seamless manner, taking social trading to a whole new level. With thousands of certified eToro users in the Copy Trading program, you can choose an investor who aligns with your financial goals and risk tolerance.
eToro provides a wealth of data to assist you in making informed decisions. This includes information such as previous performance, historical transactions, risk profile, average trade duration, and preferred assets. By leveraging this data, you can select traders to follow and potentially benefit from their expertise and success.
In summary, eToro offers a comprehensive social trading experience, with a vast selection of markets and an innovative Copy Trading tool. Rwandan traders can benefit from eToro’s well-regulated platform and access a wealth of information to enhance their trading journey.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA |
| 📲 Social Media Platforms | • Twitter • YouTube |
| ⚖️ CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📱 Trading Platform | eToro proprietary trading app and web platform |
| 💵 Minimum Deposit | 200,19 Franc |
| 💳 Trading Assets | Forex Pairs, Commodities, Exchange-traded funds (ETFs), Indices, Crypto Assets, Stocks |
| ✔️ Rwandan Franc-based Account? | No |
| 💸 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | 1 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| Online broker and trading platform that is very easy to use | eToro is not suitable for advanced Rwandan traders who want to perform their own technical analysis |
| With low spreads, you may trade a wide range of assets | |
| Free of any kind of commissions | |
| In addition, you may trade stocks, indices, ETFs, cryptocurrencies, and a slew of other financial instruments on the platform | |
| Use a credit/debit card, an e-wallet, or a bank account to make a deposit | |
| Trading in a social environment and trading through copying |
3. 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
Copy trading on the FBS online platform is currently available exclusively for iOS and Android mobile devices. The platform used for copy trading is unique to FBS, offering a seamless experience. Users have the opportunity to replicate trades from over 600 strategy providers available on the platform.
In addition to popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple, FBS also offers auto-copy trading for Dash and five other cryptocurrencies. This expanded selection of cryptocurrencies provides traders on the platform with a wider range of options to choose from. Whether traders are interested in established cryptocurrencies or emerging ones like Dash, FBS allows them to participate in the exciting world of cryptocurrency trading and potentially benefit from their investment choices.
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 | 982,99 Franc |
| 💳 Trading Assets | Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies |
| ✔️ Rwandan Franc-based Account? | Yes |
| 💸 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| FBS provides a demo account option on several account types | The demo account expires after 40 days and traders must register once again |
| Demo account registration is hassle-free | |
| Traders can either register manually using their email, or using social accounts and credentials |
4. AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
AvaTrade, a globally recognized brand, offers an impressive selection of trading platforms and comprehensive educational resources, along with competitive pricing and research tools. For traders interested in copy trading, AvaTrade provides several excellent options.
AvaSocial, ZuluTrade, and DupliTrade are all highly regarded platforms for copy trading available at AvaTrade. These platforms allow traders to connect with and replicate the trades of successful investors, expanding their trading opportunities and potential profits. By leveraging the expertise of experienced traders, users can enhance their own trading strategies and outcomes.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| 📲 Social Media Platforms | • Instagram • YouTube |
| ⚖️ CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📱 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💵 Minimum Deposit | 101,32 Franc |
| 💳 Trading Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| ✔️ Rwandan Franc-based Account? | No |
| 💸 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.9 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| The AvaOptions app is a great way to trade FX options on the go | While retail prices are reasonable, they fall short of those offered by industry leaders |
| Provides 44 currency alternatives and over 1,200 CFDs | The desktop platform is sluggish and visually antiquated. |
| AvaTrade welcomes Rwandan traders and offers competitive trading conditions to beginners and professional traders | |
| There is a low minimum deposit required to start trading | |
| AvaTrade is reputable and offers a safe trading environment to its clients |
5. 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 a reputable online platform for forex and CFD trading, offering a wide range of trading options including stocks, indexes, and commodities. In addition to its traditional trading features, FXTM is also known for its social trading capabilities.
With FXTM’s social trading platform, you have the opportunity to select and follow traders based on their investment choices and your own financial objectives. For example, if you prefer passive trading in the forex market, FXTM allows you to narrow down your search by asset class, specifically focusing on forex.
By utilizing FXTM’s social trading features, you can benefit from the expertise and strategies of successful traders, making it a suitable platform for both experienced and novice traders. Whether you are looking to actively trade or passively follow the trades of others, FXTM provides a comprehensive trading experience.
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 | 24,41 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 |
Pros and cons
| ✔️ Pros | ❌ Cons |
| There are a plethora of instructional tools available through FXTM | FXTM’s copy trading is not as advanced as that of other brokers |
| FXTM offers a great resource for market research and market information | |
| Support for several different kinds of accounts for Rwandans | |
| An extensive foreign exchange division is provided | |
| A well-known and highly controlled reputation throughout the industry |
6. NAGA
Overall Rating
- 4.7/5
Min Deposit
USD 50 / 50377 RWF
Regulators
CySEC, FCA
Trading Desk
Dealing Desk with DMA and STP
Crypto
Yes
Total Pairs
45+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
NAGA is a leading social trading platform that offers a wide range of financial instruments, including over 750 different asset classes. CFDs, stocks, FX, and cryptocurrencies are among the various options available for trading on this platform. Similar to eToro, NAGA allows traders from Rwanda and around the world to connect, discuss, and exchange ideas.
One of the key features of NAGA is the abundance of information available to help you evaluate whether a trader is worth following. For instance, if you are interested in a specific Rwandan trader’s performance since joining NAGA, you can easily access their profitability or loss data. This transparency empowers you to make informed decisions when selecting traders to follow on the platform.
NAGA’s social trading platform provides a comprehensive environment for traders to interact, learn, and benefit from the collective wisdom of a diverse community. Whether you are a seasoned trader or just starting, NAGA offers a platform that fosters knowledge sharing and social engagement.
Unique Features
| Feature | Information |
| ⚖️ Regulation | The Cyprus Securities and Exchange Commission (CySEC) |
| 📲 Social Media Platforms | • Facebook • YouTube |
| ⚖️ CBN Regulation? | No |
| 💻 Trading Accounts | Iron Account, Bronze Account, Silver Account, Gold Account, Diamond Account, Crystal Account |
| 📱 Trading Platform | NAGA Trading Platform, MetaTrader 4, MetaTrader 5 |
| 💵 Minimum Deposit | 251,46 Franc |
| 💳 Trading Assets | Forex, Stock CFDs, Indices, Commodities, Futures, ETFs, Cryptocurrencies |
| ✔️ Rwandan Franc-based Account? | No |
| 💸 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwandan traders? | No |
| 📊 Minimum spread | From 0.7 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| A platform for social trading that is simple to use | Withdrawal fees are charged on the trading accounts |
| Like-for-like replication of your chosen trader | There is no Franc-denominated account |
| Trade ideas, as well as trading system ideas, can be exchanged here | |
| Use a debit/credit card or an e-wallet to make a deposit | |
| There are no commissions on most financial instruments | |
| NAGA is one of the safest platforms for Rwandans |
7. 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
Pepperstone is a licensed broker that supports various social copy trading platforms, providing traders with a wide range of options. The platform offers popular choices such as MetaTrader and cTrader, which are known for their advanced features and user-friendly interfaces. Additionally, Pepperstone integrates with third-party tools and plugins, further enhancing the functionality of its trading platforms.
One of the standout features of Pepperstone is its competitive pricing. With spreads as low as 0.0 pips on major currency pairs like EUR/USD, traders can benefit from tight pricing and potentially reduce trading costs. This, coupled with the broker’s commitment to liquidity and fast execution, ensures that traders have access to favorable trading conditions.
Pepperstone places great emphasis on technology and innovation, constantly striving to meet the diverse trading needs of its clients. By utilizing cutting-edge trading technology, the broker aims to provide a seamless trading experience and deliver the tools necessary for traders to succeed.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📲 Social Media Platforms | • Facebook • YouTube |
| ⚖️ CBN Regulation? | No |
| 💻 Trading Accounts | Standard Account, Razor Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
| 💵 Minimum Deposit | 148,19 Franc |
| 💳 Trading Assets | Forex, Cryptocurrencies, Shares, ETFs, Indices, Commodities, Currency Indices |
| ✔️ Rwandan Franc-based Account? | No |
| 💸 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwandan traders? | No |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| Any trader from anywhere in the world can join Pepperstone, regardless of their level of trading expertise | Some leverage restrictions may apply |
| A wide range of resources for learning and trading are available | There are additional fees applied to the Islamic account |
| There are no fees for depositing or withdrawing money from approved payment methods | There is no Franc account for Rwandan traders |
| Traders in Rwandan may take advantage of some of the most competitive spreads | |
| In terms of reputation, Pepperstone has a great deal of credibility and a high trust rating |
Exploring Social Trading
Social trading promotes interaction and collaboration among traders, facilitating the opportunity to observe and learn from one another’s trading activities. This approach offers numerous advantages to traders regardless of their expertise, as it grants them access to valuable insights into fellow traders’ decision-making processes. Participating in social trading not only deepens traders’ comprehension of the markets but also exposes them to diverse trading strategies, ultimately leading to enhancements in their own trading performance.
In Rwanda, social trading has become more accessible than ever before, thanks to modern technologies and innovative platforms. Traders have the option to choose a comprehensive social trading platform or implement social trading practices gradually.
Some traders prefer using a social trading platform that enables them to mirror or copy the trading strategies of other traders. By subscribing to the channels of other traders, they can view real-time streams of their positions and replicate their trades.
For instance, if Trader A opens a position, Trader B can choose to follow suit by copying Trader A’s trades. Social trading networks often feature leaderboards based on popularity and success rate, incentivizing experienced traders to share their techniques.
Traders can also incorporate the ideas of others through social trading while maintaining control over their own trades using various signals and indicators. Additionally, social trading can serve as a form of validation for other types of analysis.
Overall, social trading provides a platform for traders to engage, learn, and replicate successful trading strategies. It offers opportunities for collaboration and validation, making it a valuable tool in the trading community.
Considerations before Rwandan traders start using Social Trading
It is essential to acknowledge that social trading may not be suitable for every trader. While it has been lauded for its ability to promote financial inclusion, it has also faced criticism for potentially diminishing the importance of acquiring the necessary information and skills to navigate financial markets effectively.
One must not make the mistake of believing that social trading eliminates all risks. There is always a possibility of experiencing losses when relying on someone else’s judgment. If you choose to engage in social trading, it is crucial to understand that you are placing your trust in another trader while still assuming risks.
While social trading can expedite the learning process, it does so at the expense of gaining firsthand experience in the financial markets. It is essential to have a clear understanding of what you are doing and establish a robust risk management plan before copying the strategies and trades of other traders with the expectation of success.
When starting with social trading, you will be adopting someone else’s strategy. However, it is important to remember that each person’s strategy is tailored to their specific trading needs and objectives. Therefore, it is crucial to develop a trading strategy that aligns with your own goals. While other traders’ tactics can provide guidance, it is essential to customize them according to your own purposes.
Since risk tolerance and financial resources vary among individuals, blindly following someone else’s lead may not always be the best approach in trading. It is important to consider your own circumstances and make informed decisions that align with your risk tolerance and financial capabilities.
How to Choose a Forex Broker
When choosing a forex broker, it is important to consider several factors to make an informed decision. Here is a step-by-step guide to help you through the process:
Regulation:
Ensure that the broker is regulated by a reputable financial authority. The regulation provides oversight and protection, ensuring fair and transparent operations.
Trading Platform:
Evaluate the broker’s trading platform. It should be user-friendly, and stable, and offer essential features like charting tools, order types, and real-time price quotes. If possible, test the platform’s demo account.
Tradable Instruments:
Check the range of financial instruments offered by the broker. Ensure they provide access to the currency pairs, commodities, indices, or stocks you intend to trade.
Spreads and Fees:
Compare the spreads and fees charged by different brokers. Low spreads help reduce trading costs, but consider other fees like commissions, swap rates, or withdrawal charges.
Leverage:
Understand the leverage options provided by the broker. Leverage amplifies your trading position but also increases risk. Ensure the leverage offered aligns with your risk tolerance and trading strategy.
Customer Support:
Test the broker’s customer support by reaching out with questions or concerns. Prompt and helpful support is essential when you encounter issues or have inquiries.
Account Types:
Check if the broker offers various account types to suit different trading needs. Consider factors like minimum deposit requirements, account currencies, and account benefits or bonuses.
Deposit and Withdrawal Options:
Ensure the broker supports convenient and secure payment methods for deposits and withdrawals. Consider factors like transaction fees, processing times, and availability of local payment options.
Educational Resources:
Look for brokers that provide educational resources such as trading guides, webinars, or market analysis. These resources can help enhance your trading knowledge and skills.
Reputation and Reviews:
Research the broker’s reputation by reading reviews, forum discussions, or seeking recommendations from other traders. Pay attention to recurring concerns or red flags.
Trading Tools and Features:
Consider any additional trading tools and features offered by the broker, such as risk management tools, market research, economic calendars, or social trading platforms.
Mobile Trading:
If you prefer trading on the go, check if the broker offers a mobile trading app compatible with your device. The app should provide a seamless trading experience with essential features.
Security:
Assess the broker’s security measures, such as encryption protocols and segregated client funds. Your funds and personal information should be adequately protected.
Demo Account:
Before committing to real funds, utilize a broker’s demo account to practice trading and familiarize yourself with their platform and services.
By considering these factors, you can evaluate and choose a forex broker that aligns with your trading preferences and needs.
Best Social Trading Brokers in Rwandan
Best Proprietary Social Trading App
Overall Rating
- 4.8/5
Min Deposit
USD 50
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
We chose eToro as the best proprietary social trading app because of its innovative, robust, and unique social trading platform. eToro is a market leader in social trading and its mobile app opens the world of copy-trading to Rwandan traders, regardless of their trading experience.
Best Social Trading Accounts for Rwandans
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
We chose Exness because, apart from its conventional trading accounts, the broker offers social trading accounts that are specifically geared to Rwandans who want to copy trading signals and provide them.
Social Trading Platform with the Largest Rwandan Market Share
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
We chose FXTM because the broker holds a market share of more than 9% in Rwanda. In addition, FXTM has offices in the region and provides a Franc account, local customer support, and a range of local funding methods.
Best International Forex Broker for Rwandans
Overall Rating
- 4.9/5
Min Deposit
USD 100
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AvaTrade is one of the most popular international brokers for Rwandans, offering a range of comprehensive trading solutions and competitive trading conditions. AvaTrade offers some of the best social trading opportunities and platforms, such as AvaSocial.
Best Mobile Trading App for Rwandan Retail Traders
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 not only offers the most powerful third-party apps for retail traders but also offers its proprietary trading platform, providing Rwandan retail traders additional flexibility and the best social trading opportunities and functions.
Rwandan Social Trading Platform with the Best Trading Accounts
Overall Rating
- 4.7/5
Min Deposit
USD 50 / 50377 RWF
Regulators
CySEC, FCA
Trading Desk
Dealing Desk with DMA and STP
Crypto
Yes
Total Pairs
45+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
NAGA offers a comprehensive and powerful social trading platform that can be used with the range of retail trading accounts offered by the broker, featuring competitive trading conditions and a range of advantages and additional features.
Largest Range of Tradable Markets through Social Trading
Overall Rating
- 4.8/5
Min Deposit
USD 50
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
eToro offers the largest range of tradable financial instruments and markets to Rwandan traders consisting of over 2,400 equities, 250 ETFs, and more.
Social Trading Platform with a 90%+ Trust Score in Rwanda
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
Pepperstone is not only one of the most prominent CFD and forex brokers in the world, with some of the highest trading volumes and liquidity, but the broker is also one of the few brokers with a 90%+ trust score.
Social Trading Platform with the Most Strategy Providers 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 a trusted and versatile trading broker and social trading provider that offers more than 600 strategy providers, providing Rwandan traders with a plethora of options.
Best Expert Advisors Platform for Rwandan traders
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 offers both MetaTrader 4 and MetaTrader 5 which are critically acclaimed for their Expert Advisors, Social Trading, and several other useful functions.
Frequently Asked Questions
What is a Social Trading Platform in Rwanda?
In social trading, you have the option to duplicate the investment methods of other traders using techniques like copy trading or mirror trading. This approach is ideal for individuals who lack the time or patience to extensively research trading opportunities and strategies that might be effective for them. By copying the trades of successful traders, you can benefit from their expertise and potentially achieve similar investment results without having to actively manage your trades. It provides a convenient and time-saving solution for those looking to participate in the financial markets with limited experience or availability for in-depth analysis.
Is Social Trading Legal in Rwanda?
Indeed, social trading allows you to engage in passive trading in the financial markets, similar to robo-advisors. This is an excellent choice for beginner traders or individuals who have limited time for extensive research. By participating in social trading, you can benefit from the expertise and strategies of experienced traders, eliminating the need for in-depth market analysis. This passive approach provides convenience and simplicity, allowing you to automatically mirror the trades of successful traders and potentially achieve positive investment outcomes. It offers a user-friendly and time-efficient solution for individuals seeking to enter the world of trading without the requirement for extensive research and analysis.
Are Social Trading Platforms regulated?
In most instances, social trading platforms are provided by online brokerages, which are typically regulated and supervised by reputable financial institutions.
What Social Trading Platform fees can I expect?
The fee structure for social trading platforms can vary depending on the platform you choose. In the case of eToro, its Copy Trading feature does not impose any additional fees on users. However, it’s important to note that different platforms may have different fee structures.
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