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10 Best Crypto Brokers for Beginners in Rwanda

The 10 Best Crypto Brokers for Beginners in Rwanda revealed. We tested and verified the best crypto brokers for beginners for Rwandan Traders.

This is a complete list of the best crypto brokers in Rwanda.

In this in-depth guide you’ll learn:

  • What is a crypto broker?
  • What is cryptocurrency?
  • Our recommended crypto broker is Rwandan traders starting out.
  • How to compare crypto brokers against each other?
  • Which broker offers apps on IOS and Android?
  • How and can I trade forex with $5 (3459,84 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 crypto forex brokers for beginner Rwandans…

Let’s dive right in…

 

10 Best Forex Brokers in Rwanda for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

.
Updated : August 21, 2024

10 Best Crypto Brokers for Beginners in Rwanda – Comparison

🥇 Broker✔️ Offers Crypto Trading App?💸 Minimum Deposit ✔️ Rwandan Franc-based Account?💰 RWF Deposits Allowed?👉 Open An Account
1. Capital.comYes68,26 FrancYesNo👉 Open Account
2. FBSYes69,10 FrancYesYes👉 Open Account
3. ExnessYes68,26 FrancYesNo👉 Open Account
4. XMYes3,33 FrancNoYes👉 Open Account
5. easyMarketsYes101,06 FrancNoYes👉 Open Account
6. AvaTradeYes69,10 FrancNoYes👉 Open Account
7. AxiYes17,32 FrancNoNo👉 Open Account
8. BD SwissYes68,26 FrancNoYes👉 Open Account
9. IC MarketsYes138,19 FrancNoNo👉 Open Account
10. HF MarketsYes3,33 FrancYesYes👉 Open Account

7 Best Crypto Brokers for Beginners in Rwanda(2024)

  1. Capital.com – Overall, Best Crypto Broker for Beginner Traders
  2. FBSHighest Maximum Leverage offered 
  3. HF Markets – Best Bonus Offer in Rwanda
  4. Exness – Best Overall Broker in Rwanda
  5. XM – Lowest Spreads in the Trading Industry in Rwanda
  6. easyMarkets – offers up to 50% Sign up bonus
  7. AvaTrade  – Great Range of Tradable Instruments
  8. Axi – Best Broker for Beginner Crypto Traders
  9. BDSwiss – Top Crypto App For Rwandan Traders
  10. IC Markets – Best Crypto Broker with Low Minimum Deposit

What is the role of a Crypto Broker in Rwanda?

Instead of selling cryptocurrencies to clients directly, Rwandans prefer using brokers that offer CFD trading on cryptocurrency markets, which provides clients with a far more advantageous entry point into the crypto world.

 

A cryptocurrency broker provides traders with derivatives products in which they form contracts, allowing Rwandans to speculate on the price of digital currency without owning the underlying asset.

1. Capital.com

Overall Rating

Min Deposit

USD 20

Regulators

CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon

Trading Desk

Market maker

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Capital.com

 

Capital.com is a trusted cryptocurrency exchange that facilitates trades between several coin pairs. There are no costs associated with trading cryptocurrencies, and traders may take advantage of the leverage of up to 1:2, as is common among crypto brokers that prioritize their clients’ safety.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, FCA, NBRB, and CySEC
📲 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
🏛 CBN Regulation?No
💻 Trading AccountsRetail Account
📱 Trading Platform• Capital.com Web
• Capita.com Mobile
• MetaTrader 4
• Trading View
💳 Minimum Deposit 13,32 Rwandan Franc
💰 Trading Assets• Indices
• Forex
• Commodities
• Cryptocurrencies
• Shares
💸 Rwandan Franc-based Account?No
💵 RWF Deposits Allowed?Yes
✔️ Bonuses for Rwandan traders?No
📊 Minimum spreadfrom 0.6 pip EUR/USD
📱 Demo AccountYes
☪️ Islamic AccountNo

 

Pros and Cons

✔️ Pros❌ Cons
Capital.com is a well-regulated broker that reports excellent user experienceUnited States clients are not accepted
Capital.com offers a proprietary platform, mobile trading apps, and MetaTrader 4There are restrictions on leverage ratios
There is a transparent fee structure with tight spreads, commission-free trading, and a reasonable overnight fee chargeThe spreads are marked-up
Offers thematic investments and Capital.com TV
The broker accepts all trading strategies including algorithmic trading, mobile trading, scalping, and others
Offers a decent selection of deposit methods and withdrawal options including bank wire transfer, bank transfer, and electronic payment processors
Currency conversion fees are not charged and there is a selection of base currencies
There is a decent selection of educational content offered
The proprietary platform offers charting tools and several other features
Regulatory protection is guaranteed through several regulatory bodies
There is a selection of instruments from a wide range of asset classes
Capital.com offers helpful customer service 24/7 and there is a lot of customer feedback reflecting a positive experience with the broker

2. FBS

Overall Rating

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

FBS

 

The FBS Crypto Account supports over a hundred different instruments, including a wide variety of cryptocurrencies, crypto-fiat crosses, crypto-coin crosses, and crypto-metal crosses.

 

Unique Features

FeatureInformation
⚖️ RegulationIFSC, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Rwandan Traders?Yes
💳 Minimum deposit (RWF)665,98 Rwandan Franc ($1)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:3000
👥 Customer Support 24/7

 

Pros and Cons

✔️ Pros❌ Cons
FBS offers competitive trading conditions with some of the lowest spreadsThere are wide spreads charges on some accounts
There are several account types to choose fromThere is a limited number of tradable instruments
There are many social trading opportunitiesThere are several regional restrictions applied
There is an ultra-low minimum deposit requirement
The broker is well-regulated and trusted

3. HF Markets

Overall Rating

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

HF Markets

 

As a global leader in the cryptocurrency trading industry, HF Markets is a go-to destination for investors. Whatever your level of expertise or trading goals may be, you will find an account type and spread at HF Markets that work for you.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
⚖️ CBN Regulation?No
📊 Trading AccountsMT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit 3,33 Rwandan Franc equivalent to $5
💰 Trading AssetsForex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
🔎 Rwandan Franc -based Account?No
💳 RWF Deposits Allowed?No
💰 Bonuses for Rwandan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated in several global regionsThere are no variable spread accounts
Offers some of the lowest spreads in the forex market on major currency pairsThere is a limited selection of funding options and withdrawal methods.
There are several account types to choose from
HFM accommodates all types of traders despite their trading strategies
Low minimum deposit requirement
Beginner traders and professional investors are both welcome
Educational tools, advanced trading tools, and several other comprehensive solutions are offered
There is a comprehensive market analysis offered
Technical analysis and fundamental analysis offered

4. Exness

Overall Rating

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

 

Exness, a top CFD broker with over 200,000 clients in over 100 countries, offers trading in more than 100 currency pairs, several cryptocurrencies, 70+ stock CFDs, indices, and commodities.

 

Award-winning broker Exness offers Rwandan traders a risk-free trading environment. New traders who are interested in learning more about Exness may do so primarily via the Exness Academy.

 

Our Forex trading classes are divided into three tiers of difficulty, which is extremely helpful if you are just starting your trading journey in the market.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
⚖️ CBN Regulation?No
📊 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit 68,26 RWF (or equivalent to $10)
💰 Trading AssetsForex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks
🔎 Rwandan Franc-based Account?No
💳 RWF Deposits Allowed?Yes
💰 Bonuses for Rwandan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedNo

 

Pros and Cons

✔️ Pros❌ Cons
Exness is a reputable international broker authorized by several reputable market regulatorsThere is a limited selection of tradable instruments in only a few financial markets
The broker offers some of the tightest spreads across all types of accountsThere is a limited selection of funding options offered
There are several account types to choose from, each accommodating different types of traders
There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more.
Exness is ideal for any Rwandan beginner traders and institutional investors
There are solutions offered for any type of professional trader who needs advanced options
There is a powerful proprietary mobile app offered
Client fund safety and investor protection is guaranteed
Multilingual 24/7 customer support is offered
Instant withdrawal methods are available

5. XM

Overall Rating

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

XM Group

 

As a large global broker with a sizable customer base and a stellar reputation, XM is a favorite among Rwandan traders. If you are looking for educational materials, go no further than XM; they are on par with the best brokers in the world.

 

Webinars on foreign exchange trading (Forex), tutorials on the XM trading platform, and live educational seminars are just some of the learning opportunities provided by XM. These materials are extensive and straightforward.

 

While most of the XM website’s educational resources are available to anybody who visits, a verified trading account is required to access a select few sections.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, IFSC
⚖️ CBN RegulationNo
✔️ Accepts Rwandan Traders?Yes
💳 Minimum deposit (RWF)3,33 Rwandan Franc ($5)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:888
👥 Customer Support 24/5

 

Pros and Cons

✔️ Pros❌ Cons
Negative balance protection is applied to retail investor accountsUS clients are restricted from accessing XM’s trading services
There are several secure payment methods to choose fromThere are no fixed spread accounts offered
The broker is known for low spreads, low commissions, and reliable trade execution speedsThere is an inactivity fee applied to dormant accounts
Traders can use hedging, scalping, and expert advisor trading strategies
The broker offers personal customer service to its clients

6. easyMarkets

Overall Rating

Min Deposit

100 USD/101 652 RWF

Regulators

CySEC, ASIC, BVI, FSA

Trading Desk

MetaTrader 4, TradingView

Crypto

No

Total Pairs

275+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

easyMarkets

Trading in 20 different digital cryptocurrency assets is now possible via authorized market maker easyMarkets. EasyMarkets has been an industry leader in delivering innovative features like negative balance protection and guaranteed stop-loss since its inception.

New tools including easyTrade, Freeze Rate, and dealCancellation have been implemented by the business to help traders reduce risk exposure.

Unique Features

Account FeatureValue
💻 Platform OfferedeasyMarkets Web/Mobile App
💵 Minimum Transaction Size (USD)70 USD
📈 Maximum Transaction Size (lots)50 lots
📊 Average Fixed Spreads (from)EUR/USD – 1.8 pips
GBP/USD – 2.4 pips
USD/JPY – 2.4 pips
WTI (OIL) – 0.06 USD
XAU/USD – 0.50 USD
💰 Minimum Deposit17,15 Franc (Equivalent to $25)
💸 Maximum Leverage1:200
💵 Commission FeesNone
💳 Account FeesNone
📱 Deposit and Withdrawal FeesNone
📞 Customer Telephonic SupportYes
👥 Personal Account ManagerYes
🗣 24/5 Customer Support Through Live ChatYes
✔️ Guaranteed Zero SlippageYes
🛑 Guaranteed Stop-LossYes
❌ Negative Balance ProtectionYes
📧 Daily Email on Fundamental AnalysisYes
✔️ Daily Email on Technical AnalysisYes
💻 Trading Central IndicatorNo
📱 Account Base Currency OptionsEUR, CAD, CZK, JPY, NZD, AUD, PLN, TRY, CNY, HKD, USD, SGD, CHF, GBP, MXN, NOK, SEK, ZAR, BTC

Pros and Cons

✔️ Pros❌ Cons
Well-regulated broker with a high trust scoreVariable spreads are not offered
There is a comprehensive proprietary trading platform offered along with MetaTrader 4easyMarkets is a market maker broker that takes the opposite side of their clients’ trades, which means they benefit from client losses
Commission-free trading on all accounts because the broker fee is included in the spread
An inactivity fee is applied to dormant accounts
Offers innovative features such as Freeze-Rate, Inside Viewer, easyTrade, and more
The guaranteed stop-loss is offered free of charge
TradingView, Trading Central, and other platforms are offered
There is a powerful and innovative easyMarkets app offered
easyMarkets offers low, fixed spreads

7. AvaTrade

Overall Rating

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

 

Trading platforms for foreign exchange (FX) and crypto contracts for difference (CFDs) are provided by AvaTrade, a reputable and well-known company across the globe. It is a great option for copy trading, as it lets users trade CFDs on cryptocurrency markets.

AvaTrade also offers an extensive range of educational resources and materials to Rwandans who are just starting in the crypto market.

 

Unique Features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
⚖️ CBN RegulationNo
📊 Trading AccountsRetail Investor Account, Professional Account Option
💻 Trading PlatformAvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade
💳 Minimum Deposit 68,26 Rwandan Franc equivalent to $100
📈 Trading AssetsForeign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, Contract for Difference (CFD), Precious Metals
📊 Rwandan Franc-based Account?No
💳 RWF Deposits AllowedNo
💰 Bonuses for Rwandan tradersYes
📈 Minimum spread0.9 pips EUR/USD
📈 Demo AccountYes
☪️ Islamic AccountYes
📊 Social Trading OfferedYes

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade is multi-regulated and one of the most trusted online trading brokers in the worldVariable spreads are not offered
There is a wide range of financial instruments that can be traded across financial marketsThere is a limited choice between account types
There are several technical indicators, economic indicators, and other solutions for advanced tradersInactivity fees are applied
There are several trading platforms to choose fromCurrency conversion fees may be applied
There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed toThere is a limited number of base currency options offered on accounts
There is a multitude of social trading opportunities offered
The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others.

8. Axi

Overall Rating

Min Deposit

USD 0

Regulators

FSA, FCA, ASIC, DFSA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

66

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

axi

 

The Axi broker is owned by AxiCorp Financial Services Pty Ltd. As a result of the staff’s considerable industry knowledge, the firm can satisfy the expectations of its customers, develop innovative solutions, and deliver great service.

Axi Broker has designed a specialized interface to make first-time traders feel at ease. The extensive training provided by the Knightsbridge Trading Academy may help newcomers get their feet wet.

For first-time traders, the 30-day trial period is more than enough time to develop their skills before making a permanent commitment to an actual trading account.

 

Unique Features

Account FeatureValue
💳 Account setup costsNone
📈 Average spreadsFrom 0.0 pips
💸 Commissions on tradesFrom $3.50 round trip
📈 Minimum Position Size0.01 lots
💵 Minimum deposit requirement17,32 RWF equivalent to $25,000
💰 Range of marketsAll
📲 Mobile trading offered?Yes
📱 MT4 NextGen offered?Yes
🚀 Martin and Leverage offered?Up to 1:400
💸 Account Base CurrencyUSD, EUR, GBP, AUD
✔️ Demo trading availability30 Days
📈 VPSYes, free
🤝 Expert Advisors offered?Yes
📉 AutoChartistYes
💻 Myfxbook AutoTrade offered?Yes
💳 PsyQuation offered?Yes
💰 PsyQuation Premium offered?Yes

 

Pros and Cons

✔️ Pros❌ Cons
Axi is well-regulated and a member of the Financial CommissionRwandan traders do not have access to local deposit and withdrawal options
Axi guarantees client fund safety and provides investor protectionRwandan Franc is not a supported base account currency
Traders have a choice between retail investor accounts and powerful trading platformsRwandans cannot deposit funds in local currency
There is a range of tradable instruments offeredCrypto trading is not supported
There is an Islamic account offered and an unlimited demo accountThere are holding commissions applied to the Islamic Account
There is unlimited access to AutoChartist
Traders can use a range of trading strategies
The broker accepts Rwandan traders

9. BDSwiss

Overall Rating

Min Deposit

$100

Regulators

CySec, FSC, FSA, BaFin, NFA

Trading Desk

MetaTrader 4 , MetaTrader 5

Crypto

Yes

Total Pairs

50 Forex Pairs and 20 Crypto Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

BDSwiss

 

BDSwiss provides Rwandans access to 32 distinct coin pairings on their cryptocurrency exchange. At BDSwiss, you could gain leverage of up to 1:5 and crypto trading can be done without being subject to commission charges. BDSwiss offers comprehensive support for MT4, MT5, and a unique BDSwiss WebTrader software.

BDSwiss provides an enormous range of tradable assets across four live accounts, as well as an extensive suite of analytical tools and advanced charting.

 

Unique Features

Account FeatureValue
📈 Average Spread on EUR/USD1.5 pips
📈 Maximum Leverage1:500
🔆 Tradable InstrumentsOver 250
📈 Available AssetsForex CFDs
Stocks CFDs
Indices CFDs
Commodities CFDs
Cryptocurrencies CFDs
🔎 Commissions per round lot$2 on Indices
0.15% on Shares
✴️ Margin Call50%
📊 Stop-out level20%
💳 Instant Withdrawals offered?Yes, only on credit cards up to 2,000 €/$/£
💳 0% fees on Deposits and CC Withdrawal?Yes
💻 Platforms availableAll
📊 Are trading alerts offered?Limited Access granted
📈 AutoChartist Performance Stats offered?Yes, with a 347,14 minimum deposit
🎓 Personal Account ManagerYes, with a 694,29 RWF minimum deposit
💻 Priority ServiceNo
📈 AutoChartist Standard ToolsYes
🚀 Access to Trading Central?Yes
📊Trading Academy and Live WebinarsYes
📊Trade Companion offered?No
☪️ Islamic Account option?Yes
🔎 VIP WebinarsNo
👨‍💼 24/5 Customer Service and Support?Yes
💳 Minimum deposit requirement68,26 RWF

 

Pros and Cons

✔️ Pros❌ Cons
BDSwiss is one of the trusted forex brokers with a high trust score that provides client protectionThere are high minimum deposits on more premium accounts
There are commission-free options offeredFixed spreads are not offered
There are competitive conditions with tight spreads and low commissionsThere are some regional restrictions applied to some countries
BDSwiss has a large client base spread across the globeThe raw spreads are not the tightest
There are more than 250 CFDs to trade and several financial assets and classesBDSwiss does not offer a deposit bonus or any other initiative
BDSwiss offers a high maximum leverage ratio up to 1:1000Does not offer a specific Rwandan client or terminal
Accepts electronic payments from Skrill, Neteller, and other trusted methodsCurrency conversion fees are charged
Offers a powerful proprietary trading platform along with MetaTrader 4 and 5There is an inactivity fee charged on dormant accounts
There is a massive selection of educational material and trading tools, covering all aspects of tradingWithdrawal fee applied on the bank wire withdrawal option for certain amounts
Provides advanced charting tools and analytical materialThere are no Rwandan Franc deposits allowed and there is no RWF account offered
Deposit fees are not charged on deposit methodsThere is no desktop version of the proprietary trading platform
Offers a demo account and Islamic Account
BDSwiss offers a decent range of payment methods
There is a choice between dynamic retail investor accounts

10. IC Markets

Overall Rating

Min Deposit

USD 200 / 205 900 RWF

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

IC Markets

 

Although it is most known for its raw Forex spreads, IC Markets is a broker that accepts new customers and offers trading on 18 different cryptocurrency pairs.

 

Weekend traders and beginners still establishing their footing in the market may benefit from the ease of bitcoin trading and IC Markets’ 24/7 customer assistance.

 

IC Markets offers a variety of educational tools, including video tutorials, articles, frequent webinars, and IC Markets WebTV. In addition to basic and technical market analysis, it also features breaking market news.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA
⚖️ CBN RegulationNo
📊 Trading AccountsRetail, Professional
💻 Trading PlatformeToro trading app and web-based platform
💳 Minimum Deposit 138,19 RWF equivalent to $200
📈 Trading AssetsForex pairs, Commodities, Exchange-Traded Funds (ETFs), Indices, Stocks, Crypto trading, Stocks
📊 Rwandan Franc-based Account?No
💳 RWF Deposits AllowedNo
💰 Bonuses for Rwandan tradersYes
📈 Minimum spread1 pip EUR/USD
📈 Demo AccountYes
☪️ Islamic AccountYes
📊 Social Trading OfferedYes

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated broker with competitive spreads and various social trading opportunitiesIC Markets does not hold regulations from the Financial Conduct Authority (FCA)
Flexible and powerful trading platforms are available for the web, desktop platforms, and mobile devicesUnited States traders are not accepted
There are low trading costs involvedFixed spreads are not offered
The transaction costs are transparent and cater for various traders despite their financial situation

How to Choose the Right Crypto Broker in Rwandan

How to Choose the Right Crypto Broker in Rwandan

 

Rwandan traders must evaluate the following components of a cryptocurrency broker to decide whether the broker is suited to their unique trading objectives and/or needs.

 

Credibility and Reliability

The cryptocurrency market is noticeably young in comparison to other markets, however just because it is new does not imply that every broker you come across is unskilled. There are reputable and knowledgeable crypto brokers available for you to work with.

They have the appropriate credentials, such as licenses issued by well-known and respectable regulatory authorities, and they have experts working on their team.

Additionally, they have the appropriate qualifications. It is possible to read reviews written about the broker and get insight into the services they provide to choose whether you should work with them.

 

Trading Platform

A broker’s trading platform needs to be intuitive and feature-rich for crypto traders, just as it would be for FX traders. There are several reasons why these kinds of systems are essential.

First, they make Bitcoin trading very convenient for their customers. A wide variety of choices are available to users of a well-designed platform. These choices exist just to ease the way for both new and seasoned Bitcoin traders.

A broker, particularly one just getting started in the Bitcoin industry, cannot function properly without these platforms. Verify the broker’s web platform is innovative.

Financial Background

Do not get into business with a broker whose net worth is lower than the money you want to invest. To be considered a reliable cryptocurrency broker, a company must have access to substantial funds. This ensures that your cryptocurrency holdings are secure and that your broker will not go under.

 

Technical Assistance

Providing excellent customer service is one thing, but providing stellar technical assistance is something quite else.

Brokers often have technical support departments to assist clients with issues that need in-depth knowledge in a certain area. Many cryptocurrency exchanges provide no means of contacting technical support staff.

Most significantly, the team should be made up of veterans in the crypto space that has worked in the field for many years. They should have an intimate familiarity with the system and be able to provide you with quick, effective answers.

 

Fees and Commissions

When choosing a cryptocurrency broker, it is important to research the fees they impose. Obtain specific information from the broker about the fees they charge and any other potential dangers so that you can make an informed choice.

 

Overall Longevity

Some trustworthy cryptocurrency brokers may have just lately entered the market, although these instances are exceedingly rare. If a cryptocurrency broker has been around for a long time, then it must be doing something well since customers will continue to use it.

 

Registration Process

Sign-up procedures for cryptocurrency brokers provide incredibly detailed information about them. Experts in the field can tell immediately whether a broker is reliable only by observing its onboarding procedure.

In the beginning, you could struggle with this. You will be able to tell the legitimate brokers from the scammers more easily as time goes on. The presence of a vast number of depositing fees is a glaring red flag in certain sign-up procedures.

If a cryptocurrency broker requires a big initial payment from new customers, chances are good that they are a fraud. This is even more apparent when considering that most reputable cryptocurrency brokers charge their clients next to nothing to trade.

 

Practice Trading

Quite a few circumstances might arise in cryptocurrency trading, making it a complex endeavor. Avoiding these errors is easy by using demo trading, which simulates real-world trading conditions without any monetary risk to the trader. Since there is no potential for profit or loss, this choice is neutral, but you will gain knowledge about the processes involved in crypto trading.

 

Education and Research

Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

  • eBooks
  • Trading guides
  • Trading knowledge on leveraged products
  • A risk warning on complex instruments
  • Educational videos

 

Research can include some of the following:

  • Trading tools
  • Commentary
  • Status of International Markets
  • Price movements
  • Market sentiments
  • Whether there is a volatile market
  • Exchange Rates

 

Expert opinions and several other resources can help experienced traders make informed trading decisions.

The Best Crypto Brokers in Rwanda

In this article, we have listed the best crypto brokers that offer MetaTrader 4 to traders in Rwanda. We have further identified the crypto brokers that offer additional services and solutions to Rwandan traders.

 

Best MetaTrader 4 / MT4 Crypto Broker in Rwanda

Overall Rating

Min Deposit

USD 0

Regulators

FSA, FCA, ASIC, DFSA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

66

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, Axi is the best MT4 Crypto Broker in Rwanda. Axi offers over 130 assorted products that can be traded via MetaTrader 4. Rwandan traders are given some of the best trading conditions that include low starting spreads across all account types with Axi.

 

Best MetaTrader 5 / MT5 Crypto Broker in Rwandan

Overall Rating

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

 

Overall, RoboForex is the best MetaTrader 5 Crypto broker in Rwanda. RoboForex offers a choice between 12,000 tradable instruments that can be traded via MetaTrader 5 alongside a few other powerful trading platforms.

 

Best Crypto Broker for Beginners in Rwanda

Overall Rating

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

 

Overall, AvaTrade is the best Crypto Broker for beginners in Rwanda. AvaTrade offers some of the best educational sources to Rwandan beginner traders. There are several guides and videos along with webinars, seminars, and more.

 

Best Low Minimum Deposit Crypto Broker in Rwanda

Overall Rating

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, HF Markets is the best Low Minimum Deposit Crypto Broker in Rwanda. HF Markets offers Rwandan traders live trading accounts with minimum deposits of 3,33 Franc.

HF Markets is a popular MetaTrader crypto broker that also offers a proprietary trading app for iOS and Android.

 

Best ECN Crypto Broker in Rwanda

Overall Rating

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

 

Overall, Pepperstone is the best ECN Crypto Broker in Rwanda. Pepperstone is one of the largest forex and CFD brokers in the world that offers its services to over 170 countries.

Rwandans can expect some of the fastest trade execution speeds with no requotes and minimal slippage.

 

Best Islamic / Swap-Free Crypto Broker in Rwanda

Overall Rating

Min Deposit

USD 0

Regulators

ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA

Trading Desk

Metatrader 4 and Metatrader 5

Crypto

Yes

Total Pairs

45

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, OANDA is the best Islamic / Swap-Free Crypto Broker in Rwanda. OANDA offers a choice between 3 retail accounts. This includes a dedicated Islamic account that is offered to Rwandan Muslim traders who follow Sharia law.

 

Best Crypto Trading App in Rwanda

Overall Rating

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

 

Overall, FBS is the best crypto trading app in Rwanda. FBS offers its crypto account through the FBS Trader. Rwandans can benefit from a plethora of features and some of the best market analyses.

 

Best Rwandan Franc Trading Account Crypto Broker in Rwanda

Overall Rating

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

 

Overall, Exness is the best Nigerian Naira trading account Crypto Broker in Rwanda. Exness is one of the best multi-currency brokers that offer RWF-denominated accounts.

Exness is a MetaTrader-only broker that offers a small range of tradable instruments.

 

Best Lowest Spread Crypto Broker in Rwanda

Overall Rating

Min Deposit

USD 200 / 205 900 RWF

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, IC Markets is the best lowest-spread Crypto Broker in Rwanda. Because of its true ECN execution model, IC Markets offers some of the tightest spreads in the industry.

IC Markets serves traders around the world and offers a range of crypto CFDs to Rwandan traders.

 

Best NDD Crypto Broker in Rwanda

Overall Rating

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 the best NDD Crypto Broker in Rwanda. XM is a popular No-Dealing Desk broker that serves over 2.5 million traders from around the world. Cryptocurrency CFDs form a part of XM’s extensive range of over 1,000 financial instruments.

 

Best STP Crypto Broker in Rwanda

Overall Rating

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 the best STP Crypto Broker in Rwanda. Tickmill is one of the best brokers for Rwandan beginners that offers transparent trading fees and superior STP and ECN execution.

 

Best Sign-up Bonus Crypto Broker in Rwanda

Overall Rating

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

 

Overall, SuperForex is the best sign-up bonus Crypto Broker in Rwanda. SuperForex offers a choice between 11 trading accounts and is one of the brokers with the largest range of promotions and bonuses.

Why is Bitcoin popular in Rwanda?

Why is Bitcoin popular in Rwanda?

 

The rapid adoption of cryptocurrencies in Rwanda may be traced to the rising popularity of smartphone-based peer-to-peer payments (also known as digital money transfers).

 

About 32% of Rwandans who participated in the Statista Global Consumer Survey said they either extensively use cryptocurrency or own some. Subsequently, the West African nation tops the list of the 65 nations surveyed.

 

This is particularly true in nations in Africa and Southeast Asia, where rapid and trustworthy money transfer options are not always readily accessible, making online currency the preferred option. Also, like most traditional banks, many Rwandan consumers believe that international money transfers incur no fees.

 

Furthermore, a growing number of merchants are now accepting Bitcoin, even in the most unexpected of settings.

How to start trading Crypto in Rwanda

How to start trading Crypto in Rwanda

 

Step 1 – Select a platform or a broker

Selecting a broker or crypto exchange is the first step in making a cryptocurrency purchase. While both provide access to the crypto market, there are several important distinctions to be aware of.

 

An exchange is a decentralized or centralized online marketplace for buying and selling digital currencies.

 

Despite their cheap costs, exchanges might be frightening to inexperienced crypto investors because of their complicated user interfaces that include several trading kinds and elaborate performance data.

 

Paxful, Luno, LocalBitcoins, NairaEx, BitPesa, and Paybis are some of the most well-known cryptocurrency exchanges in Rwanda.

 

Even while novices, especially those with little experience trading stocks, may feel overwhelmed by these organizations’ regular trading interfaces, they also provide straightforward purchasing choices.

 

Brokers for cryptocurrencies provide user-friendly interfaces and handle all communication with cryptocurrency exchanges on your behalf, simplifying the process of buying crypto. Many of them have more expensive fees than currency exchanges.

 

Others claim to be “free,” but they profit from either sharing your transaction data with huge brokerages or funds or failing to execute your trade at the best available market price.

 

Among the most well-known crypto brokers, Exness, AvaTrade, HF Markets, and a few others stand out.

 

Step 2 – Create Your Account

You can establish an account with a cryptocurrency broker or exchange after you have made your choice. When making large purchases on certain sites, identification verification may be required. This is crucial in avoiding fraud and satisfying law enforcement standards at the federal level.

 

Rwandans should note that this process is not a requirement with many decentralized exchanges that are strict about the anonymity of their users.

 

Step 3 – Fund your Wallet or Trading Account

Make sure your wallet has sufficient cash before attempting to purchase a crypt

 

Rwandans must take note of the following before making any purchases:

 

Credit card deposits are an option at certain exchanges and brokers but doing so carries a prominent level of risk and may be costly.

 

When getting a cash advance, you could have to pay a fee equal to 5% of the total value of the transaction.

 

You might potentially lose 10% of your crypto buy to costs since this is in addition to whatever fees your crypto exchange or brokerage may levy, which can range up to 5% itself.

 

Step 4 – Start trading by placing your first order

Once you have funded your cryptocurrency account, you may begin placing orders.

 

Step 5 – Choose a crypto wallet for the storage of coins

The Rwandan government and the banking industry do not endorse cryptocurrency trading operations, and cryptocurrency exchanges are not protected.

 

There is a possibility that these transactions might be compromised. Because millions of dollars worth of Bitcoin has already been lost due to forgotten or lost passwords, this is a real risk. Therefore, you must always keep your cryptocurrency in a safe location.

 

Never remove crypto from the exchange. When you make a cryptocurrency purchase, the coins will be kept in a “crypto wallet” that is associated with the exchange. One reason to take cryptocurrency from the exchange and into a hot or cold wallet is to avoid the provider the exchange works with or to increase security. To complete this transaction, you may be required to pay a modest charge to the exchange, the amount being transferred, or both.

 

Cold Wallets. Since they are not linked to the internet, cold crypto wallets are the safest place to store your cryptocurrency. 

FAQ

Do you need a broker to trade cryptocurrencies in Rwanda?

No, you do not exclusively need a broker to trade cryptocurrencies in Rwanda as several trusted crypto exchanges offer their services in the region.

 

Is it risky to trade crypto in Rwanda?

Yes, like any other investment Crypto is very risky. However, unlike other investments, there are additional risks involved with crypto, especially cybercrime.

 

How do crypto brokers make money?

Brokers in cryptocurrencies earn their keep by taking a cut of each trade their clients make. Due to the novelty of the cryptocurrency market, many brokers are allowed to charge larger commissions than they would for traditional financial goods.

 

Can I legally trade crypto in Rwanda?

Yes, you can legally trade crypto in Rwanda. There are no laws that prohibit traders from dealing in cryptocurrencies, but traders do not have any protection from monetary loss, fraud, or any other counterparty risks as cryptocurrencies are not considered legal tender in Rwanda.

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