7 Best Forex Broker for Scalping in Rwanda
The 7 Best Forex Brokers for Scalping in Rwanda revealed. We tested and verified the best Forex Brokers for Scalping for Rwandan Traders.
This is a complete list of Forex Brokers for Scalping in Rwanda.
In this in-depth guide you’ll learn:
- What is scalping?
- Which scalping strategies can be used for Rwandan traders?
- Our recommended SEVEN scalping forex brokers for Rwandan Beginner Traders
- How to compare forex trading brokers against each other?
- How and can I trade forex with $5 (5135 RWF)?
- Which scalping brokers offer a low minimum deposit of $5 (5135 RWF)?
- Which brokers offer a signup bonus on a $5 (5135 RWF) deposit?
And lots more…
So if you’re ready to go “all in” with the best-tested Forex Brokers for Scalping in Rwanda…
Let’s dive right in…
10 Best Forex Brokers in Rwanda for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
. 
- Louis Schoeman
Best Forex Broker for Scalping in Rwanda – Comparison
| 🥇 Broker | ✔️ Scalping Broker? | 💸 Minimum Deposit | ✔️ Rwandan Franc-based Account? | 💰 RWF Deposits Allowed? | 👉 Open An Account |
| 1. AvaTrade | Yes | 101,99 Franc | No | Yes | 👉 Open Account |
| 2. eToro | Yes | 51,05 Franc | No | No | 👉 Open Account |
| 3. Capital.com | Yes | 2,46 Franc | Yes | Yes | 👉 Open Account |
| 4. FXTM | Yes | 24,57 Franc | Yes | Yes | 👉 Open Account |
| 5. Exness | Yes | 4,91 Franc | No | Yes | 👉 Open Account |
| 6. FBS | Yes | 149,17 Franc | No | Yes | 👉 Open Account |
| 7. HFM | Yes | 4,91 Franc | Yes | Yes | 👉 Open Account |
7 Best Forex Broker for Scalping in Rwanda (2024)
- AvaTrade – Overall, Best Forex Broker for Scalping in Rwanda
- eToro – Top Islamic/Swap Free Broker
- Capital.com – Verified STP Forex Broker for Scalping
- FXTM – Best Low Minimum Deposit Broker
- Exness – Top Low Spread Forex Broker for Scalping
- FBS – User-Friendly Trading App in Rwanda
- HFM – Top MetaTrader 4/MT4 Forex Broker for Scalping
What is Scalping and how does it work?
Scalping involves rapidly initiating and closing trading positions. Many consider it to be an exceptional trading approach. Generally, traders tend to follow market trends and hold their positions for days, weeks, or even months.
Day traders, on the other hand, engage in fewer trades and focus on aspects such as market news, economic forecasts, and macroeconomic indicators.
However, scalpers concentrate on short-term price fluctuations and employ a technique rooted in technical analysis. They are day traders who execute anywhere from ten to several hundred trades. It is the fastest form of trading available.
One of the reasons why this strategy is highly favored is because it can yield substantial profits through numerous small gains. Nonetheless, due to its high frequency and leverage involved, scalping is considered a high-risk trading strategy.
1. 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 is highly popular among CFD traders, offering access to over a thousand diverse marketplaces. These include dozens of foreign exchange pairs, equities, bonds, indexes, and cryptocurrencies.
AvaTrade excels in its commodity trading division, supporting various energy and precious metal trades. With competitive spreads and zero fees on selected markets, it becomes an excellent choice for scalping strategies.
Moreover, AvaTrade provides its customers with a proprietary trading platform accessible through both online and mobile apps for iOS and Android devices.
To enhance the trading experience, AvaTrade equips all its supported platforms with advanced tools and features. Opening a trading account with AvaTrade requires a minimum deposit of just one hundred dollars, ensuring accessibility for a wide range of traders.
For Rwandan traders, deposits can be made through wire transfer or by using debit or credit cards.
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 | 101,99 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 |
| AvaTrade is a trusted broker with a high level of trustworthiness | AvaTrade does not offer variable spreads |
| AvaTrade provides an attractive welcome bonus | There is a limited choice between retail accounts |
| There is a referral bonus offered when traders invite family and friends to register a real account | AvaTrade does not provide the benefit of a no-deposit bonus |
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
eToro has emerged as one of the leading brokers for scalping in the present day. This platform offers a wide range of markets and asset types, all priced reasonably. Traders who prefer scalping stocks or ETFs, for instance, can do so without any commission fees.
The eToro platform offers access to a wide range of markets, including the United Kingdom, Germany, the Netherlands, Canada, Hong Kong, and more. In addition to equities and ETFs, eToro allows users to trade popular cryptocurrencies such as Bitcoin, Shiba Inu, Ethereum, EOS, Dash, and many others. This provides traders with the opportunity to diversify their portfolios and take advantage of the potential growth in these digital assets. eToro’s offering of multiple markets ensures that users have various investment options available to them.
Digital currencies, due to their inherent volatility, can be suitable for implementing scalping strategies. In this regard, eToro distinguishes itself as a leading forex broker, offering a platform that supports approximately 50 major, minor, and exotic currency pairs. This extensive selection of currency pairs provides scalpers with ample opportunities to take advantage of short-term price fluctuations and execute quick trades. Whether traders are interested in major currency pairs like EUR/USD or exotic pairs like USD/TRY, eToro’s platform caters to a wide range of forex trading preferences.
In addition to indices markets, eToro offers a range of commodities trading instruments, including gold, silver, natural gas, and crude oil. The platform also allows leveraged buying and selling of assets. Rwandan traders will appreciate eToro’s transparent disclosure of overnight finance costs for leveraged transactions.
This transparency enables scalpers to establish clear entry and exit goals. Another highly regarded feature offered by eToro is Copy Trading, which allows users to replicate the trades of successful eToro investors. Each position is added to the user’s portfolio in proportion to the amount invested.
Rwandans will also appreciate eToro’s strong regulatory status. The broker holds licenses from CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, and SIPC.
Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Retail, Professional |
| 📊 Trading Platform | eToro trading app and web-based platform |
| 💰 Minimum Deposit | 203,97 RWF equivalent to $200 |
| 💰 Trading Assets | Forex pairs, Commodities, Exchange-Traded Funds (ETFs), Indices, Stocks, Crypto trading, Stocks |
| 🔎 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwandan traders? | Yes |
| 📈 Minimum spread | 1 pip EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| eToro has a strict and solid regulatory framework | There are limitations on leverage for retail traders |
| Client fund safety is guaranteed and there is consumer protection offered | There is a limited selection of retail investor accounts |
| eToro offers commission-free trading | Fixed spreads are not offered |
| There are over 2,000 complex instruments that can be traded | The spreads are not the tightest |
| The broker offers several trading opportunities and a social trading feature | There is a high minimum deposit on the Islamic Account |
| There is an award-winning proprietary platform offered | There is an inactivity fee charged on dormant accounts |
| eToro offers 24/6 dedicated customer services | |
| eToro offers a demo account and an Islamic Account | |
| Algorithmic trading and margin trading supported | |
| Real time quotes are offered alongside a wide range of benefits | |
| The mobile app is secure and features robust security such as two-factor authentication | |
| The app can be used as a wallet app for digital currencies | |
| Offers several resources that help traders make improved financial decisions with confidence | |
| Offers several helpful tools and services as a solid basis for investment decision along with investment advice | |
| Provides access to several popular cryptocurrencies that can be traded and crypto staking services | |
| There is a comprehensive portfolio management service and popular investor program offered |
3. Capital.com
Overall Rating
- 4.5/5
Min Deposit
USD 20 / 19469 RWF
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 stands out as the top-scaling broker overall. The platform offers an extensive range of tens of thousands of CFDs across various asset classes, including indices, foreign exchange, cryptocurrencies, commodities, exchange-traded funds, and stocks.
This ensures that scalpers have ample trade opportunities. What’s more, Capital.com does not charge any trading fees. Additionally, the spreads at Capital.com are highly competitive, with narrow spreads as low as 0.6 pips for the popular currency pair EUR/USD.
Apart from its affordability and extensive market access, Capital.com is highly regarded for its trading tools, which resonate well with most Rwandan traders. The primary web-based trading platform, accessible through standard web browsers, offers numerous technical indicators, live price feeds, customizable charts, and other useful features.
Moreover, Capital.com provides the option to trade using the MT4 desktop program, which is favored by many traders. For those who prefer mobile scalping trading, the Capital.com app is a perfect fit. This trading application is available for free download on both iOS and Android smartphones, offering full functionality.
Capital.com also offers leverage on all supported markets, presenting a significant advantage for scalping strategies. However, it’s important to note that the maximum leverage available to retail customers is capped at 1:30 for major FX pairs, 1:20 for minors/exotics and gold, and lower for other assets.
Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FCA, NBRB, and CySEC |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account |
| 📱 Trading Platform | • Capital.com Web • Capita.com Mobile • MetaTrader 4 • Trading View |
| 💳 Minimum Deposit | 19,66 Rwandan Franc |
| 💰 Trading Assets | • Indices • Forex • Commodities • Cryptocurrencies • Shares |
| 💸 Rwandan Franc-based Account? | No |
| 💵 RWF Deposits Allowed? | Yes |
| ✔️ Bonuses for Rwandan traders? | No |
| 📊 Minimum spread | from 0.6 pip EUR/USD |
| 📱 Demo Account | Yes |
| ☪️ Islamic Account | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Capital.com is a well-regulated broker that reports excellent user experience | United States clients are not accepted |
| Capital.com offers a proprietary platform, mobile trading apps, and MetaTrader 4 | There are restrictions on leverage ratios |
| There is a transparent fee structure with tight spreads, commission-free trading, and a reasonable overnight fee charge | The 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 |
4. 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 widely recognized online trading platform catering to a diverse range of markets. It offers a wide variety of currency pairings and FX indexes, allowing scalpers to hedge their positions with a carefully selected range of currencies. FXTM also supports spot metals and equities trading.
FXTM provides a selection of different account types. The Advantage account offers spreads starting at zero pips and features competitive commissions.
Traders with lower trading volumes may find the Micro account appealing, as it provides commission-free access to forex markets with minimal spreads of 1.5 pips. For those unsure about the optimal account type, starting with the demo trading option can be beneficial.
The demo trading option allows traders to access the financial markets risk-free, as they can enter and exit positions using virtual money. FXTM supports both the popular MT4 and MT5 platforms, in addition to offering their own native iOS and Android mobile apps for convenient trading on the go.
Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit | 10,08 Rwandan Franc equivalent to $10 |
| 💰 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets |
| 🔎 Rwandan Franc-based Account? | Yes |
| 💳 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwandan traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and award-winning forex broker | Inactivity fees are charged on dormant accounts |
| There is a dedicated customer support team available | FXTM does not offer its services to United States clients |
| There are several easy and quick funding and withdrawal methods offered | |
| There are three dynamic retail investor accounts to choose from with high maximum leverage ratios | |
| Low minimum deposit requirements and commission-free trading offered | |
| Deposit fees are not charged on any of the payment methods offered and the processing times on withdrawals are quick | |
| There is a selection of educational tools offered and research tools for experienced traders | |
| There is dedicated customer support offered in multiple languages |
5. 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
The Exness Group was established in 2008 and holds licenses from multiple regulatory bodies. With over 340,000 active traders in July, the organization provides important performance data on its website.
Exness users can trade across a wide range of asset classes, including Forex and CFDs on Crypto, Metals, Energies, Stocks, and Indices, through five primary trading accounts.
These asset classes are well-covered by Exness. Professional Accounts offer account leverage of up to 1:2000 on MT4 and unlimited leverage on MT5.
Pro Accounts have no trading commissions, while Raw Spread and Zero Accounts charge a commission of 3.5 USD per lot, per side. Professional Accounts are known as Raw Spread, Pro, and Zero.
There are also two types of standard accounts, namely Standard and Standard Cent, which are commission-free. Exness also offers demo accounts and accounts compliant with Islamic law that does not allow swapping.
Forex traders see
king the lowest possible spreads may consider opening an ECN account with Exness. With an ECN account, traders can access currency rates directly from the interbank market and are only required to pay the usual commission fee.
Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| ⚖️ 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 | 100,76 Rwandan Franc (or equivalent to $10) |
| 💰 Trading Assets | Forex 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 spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness has a global presence and has authorization and regulation with market regulators around the globe | There is a limited selection of tradable instruments and only a few asset classes |
| Exness offers instant withdrawals and deposits | There are only a few funding options offered |
| Rwandan traders have a choice between several dynamic account types | |
| Client fund safety is guaranteed and there is investor protection offered | |
| Exness offers 24/7 customer support that is both prompt and helpful | |
| There are tight and variable spreads offered with competitive commissions |
6. 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
FBS is undoubtedly one of the top brokers available for margin scalping. However, inexperienced traders should exercise extreme caution before entering high-leverage positions. The option for traders to place scalping orders with a maximum leverage limit of 1:3000 is of utmost importance.
Regarding fees, the specific costs you are responsible for will depend on the type of account you choose. Different account types may have varying fee structures. It’s important to review and understand the fee schedule provided by FBS to be aware of any commissions, spreads, or other charges associated with your chosen account type.
A specific type of account, known as a zero-spread account, often carries a fee rate of twenty dollars for each traded lot. The commission-free account, offering attractive minimum spreads of 0.5 pips, is likely to be the preferred choice among casual investors.
One notable drawback of FBS is its limited offering of only 37 different forex pairs. As a result, Rwandan traders seeking exotic currency markets may be left unsatisfied.
However, despite this limitation, the FBS trading platform also provides access to stocks, indices, energies, and cryptocurrencies.
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 |
7. 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 an online broker that holds multiple regulatory licenses and is known for its commitment to social responsibility. The company has been recognized with numerous awards for its exceptional services and continues to receive praise for its work.
HFM offers a wide range of financial products for trading, along with low fees, competitive spreads, and reliable transaction times.
For beginners, there is a valuable collection of educational resources available, and if you wish to practice online trading before making real investments, free demo accounts are provided.
HFM is dedicated to providing the most favorable trading conditions. This includes offering tight spreads starting from just 0.0 pips, fast execution speeds, and affordable commission rates.
HFM provides all traders with unrestricted access to a liquidity pool, which means that you have direct access to a large pool of available liquidity for executing your trades. This can result in faster order execution and potentially better pricing for your trades.
Features
| Feature | Information |
| 📈 Account Base Currencies | USD, ZAR, RWF |
| 📊 Minimum Spread | 0.0 pips EUR/USD |
| 💳 Rwandan Deposits/Withdrawals | No |
| ⚖️ CBN Regulation | No |
| 📊 Account Types | Micro Account, Premium Account, Zero Spread Account, Auto Account, HFCopy Account |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC |
| 📈 Leverage | 1:1000 |
| 📊 Micro Account Offered? | Yes |
| 📈 Trading Tools | HF App, VPS Hosting Services, AutoChartist, Trading Calculators, myHF Client Area, Advanced Insights, Economic Calendar, Traders’ Board, One-Click trading, and more |
| 💻 Educational Material | Educational Videos, Forex Education, eCourses, Events, Podcasts, Live Webinars, Training Course Videos |
| 👥 Rwandan-Based Customer Support | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated CFD and Forex broker that has a decent trust score | United States clients and some other regions are not accepted by HFM |
| The spreads offered are low and competitive | There may be restricted leverage for EU clients because of regulatory requirements |
| There are several account types to choose from with reasonable trading fees charged | There are no variable spread accounts offered |
| HFM welcomes all types of traders and trading strategies | Limited funding options offered for deposits and withdrawals |
| There is a low minimum deposit requirement and secure methods for deposits and withdrawals | |
| Suited to beginner traders and experienced traders | |
| Offers comprehensive expert trading and market analysis | |
| Offers a decent selection of educational tools and a range of trading tools |
How to Choose the Right Scalping Forex Broker in Rwanda
When selecting a forex broker for scalping, it’s important to consider several factors. Scalping involves making multiple quick trades to take advantage of small price movements, so finding a broker that suits this strategy is crucial. Here are some key factors to consider:
Regulation and Reputation:
Choose a broker regulated by a reputable financial authority to ensure transparency and protection of your interests.
Trading Platform:
Look for a fast, stable, and user-friendly platform with features like one-click trading and charting tools.
Execution Speed and Spread:
Scalping requires quick execution, so choose a broker with low latency and fast order execution. Tight spreads are also important for minimizing trading costs.
Scalping Policy:
Ensure the broker allows scalping and has favorable terms regarding trade duration and the number of positions.
Commissions and Fees:
Consider the broker’s cost structure, including spreads, commissions, and other fees, as they can impact your profitability.
Risk Management Tools:
Look for brokers offering risk management tools like stop-loss orders or negative balance protection to manage risk effectively.
Customer Support:
Responsive customer support is important for prompt assistance with any issues or questions.
Deposit and Withdrawal Options:
Check the available deposit and withdrawal methods, ensuring they are convenient for you.
Educational Resources:
Although not specific to scalping, brokers offering educational materials and market analysis can help improve your trading skills.
Demo Account:
Test the broker’s platform and services using a demo account before committing real funds to practice scalping strategies.
By considering these factors, you can find a suitable forex broker for scalping that aligns with your trading needs and preferences.
The Best Forex Brokers in Rwanda
In this article, we have listed the best brokers that offer forex trading and scalping environments to traders in Rwanda. We have further identified the brokers that offer additional services and solutions to Rwandan traders.
Best MetaTrader 4 / MT4 Scalping Broker in Rwanda
Overall Rating
- 4.9/5
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 MT4 Scalping broker in Rwanda. OANDA is a well-known broker and trading platform that gives access to many markets and a variety of services. These markets are accessible via three retail accounts, MT4, and the prestigious OANDA platform.
Best MetaTrader 5 / MT5 Scalping Broker in Rwanda
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, HFM is the best MetaTrader 5 Scalping broker in Rwanda. Scalpers get the best price from HFM, which has a strong worldwide footprint and is associated with numerous respected liquidity providers.
HFM gives scalpers a selection of trading accounts tailored to their specific requirements and aims.
Best Scalping Broker for beginners in Rwanda
Overall Rating
- 4.8/5
Min Deposit
USD0
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, IG is the best Scalping broker for beginners in Rwanda. IG offers an extensive selection of trading tools and instructional materials for traders of all levels of expertise.
Due to its low DMA spreads of 0.1 pips, a vast array of trading instruments, and extensive news, research, and instructional resources, IG is an excellent choice for both newbies and experienced traders.
Best Low Minimum Deposit Scalping Broker in Rwanda
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
Overall, FXTM is the best Low Minimum Deposit Scalping Broker in Rwanda. FXTM makes it simple for scalpers to open an account and begin forex market scalping.
FXTM is well recognized for its minimal commission fees and zero-pip spreads. FXTM is the perfect broker for forex scalping in Rwanda.
Best Scalping ECN Broker in Rwanda
Overall Rating
- 4.1/5
Min Deposit
$1 / 1119 RWF
Regulators
FCA, ASIC, CySEC, EFSA, JSC
Trading Desk
• MetaTrader 4
• MetaTrader 5
• Admirals Mobile App
Crypto
Yes
Total Pairs
35 Forex Currency Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, Admirals is the best Scalping ECN broker in Rwanda. Admirals is a worldwide regulated broker that offers six retail accounts with Market and Exchange execution and caters to all sorts of traders. Rwandans can also anticipate zero pip spreads and modest commission fees.
Best Islamic / Swap-Free Scalping Broker in Rwanda
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.
Overall, eToro is the best Islamic / Swap-Free Scalping broker in Rwanda. eToro provides over 3,000 financial products across many asset classes, including equities, cryptocurrencies, and more.
Muslim traders may convert their live accounts to an Islamic option so they can trade halal instruments without incurring swap fees by converting their accounts to an Islamic Option.
Best Scalping 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
Overall, FBS is the best Scalping trading app in Rwanda. FBS is a good broker for mobile scalpers because of its creative and strong mobile trading interface. FBS has a low entrance threshold for forex trading and provides its services in over 190 countries globally.
Best Franc Trading Account Scalping Broker 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
Overall, Alpari is the best Franc trading account Scalping broker in Rwanda. When scalpers want local assistance, Alpari, a Rwandan-based forex broker, can provide it. Scalping can be carried out using either MetaTrader 4 or 5, as well as Alpari’s own trading software.
Best Lowest Spread Scalping Broker in Rwanda
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
Overall, Exness is the best lowest-spread Scalping broker in Rwanda. Exness is a well-regarded STP and ECN broker with changeable spreads. These spreads depend on the financial instrument, account type, and market circumstances overall.
Traders may anticipate zero-pip spreads from Exness due to its better liquidity and pricing collected from the industry’s leading liquidity providers.
Best Nasdaq 100 Scalping Broker 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
Overall, Pepperstone is the best Nasdaq 100 Scalping broker in Rwanda. Pepperstone is one of the major FX and CFD brokers and offers Rwandan scalpers a secure choice. Pepperstone provides some of the most competitive liquidity and transaction execution speeds.
Best Volatility 75 / VIX 75 Scalping Broker in Rwanda
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
Overall, AvaTrade is the best Volatility 75 / VIX 75 Scalping broker in Rwanda. AvaTrade provides Rwandan scalpers with a variety of sophisticated trading options. AvaTrade provides VIX, which Rwandans may trade on desktop and mobile devices in addition to online browsers.
AvaTrade also provides training resources for novices and sophisticated trading tools for seasoned traders seeking to develop their trading tactics.
Best NDD Scalping Broker in Rwanda
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA, CMA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overall, FP Markets is the best NDD Scalping broker in Rwanda. FP Markets excels as a broker utilizing the MetaTrader platform. FP Markets is one of the most inexpensive brokers accessible to traders worldwide.
FP Markets is an NDD broker that provides market execution and liquidity from BNP Paribas, Commerzbank, Barclays, and several other institutions. Traders may anticipate zero-pip spreads across a vast array of significant financial markets.
Best STP Scalping Broker in Rwanda
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overall, XM is the best STP Scalping broker in Rwanda. XM has a worldwide reach and is among the finest brokers in Rwanda for Scalpers. XM provides a selection of asset classes and a leverage ratio of up to 1:888.
Best Sign-up Bonus Scalping Broker in Rwanda
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
Overall, RoboForex is the best sign-up bonus Scalping broker in Rwanda. RoboForex, which has garnered a few awards throughout the years, provides over 12,000 traded goods on a variety of platforms.
RoboForex obtains its liquidity from eight different providers and provides market execution, so traders may anticipate zero-pip spreads and cheap commission rates on ECN Accounts.
FAQ
Can you make money scalping in Rwanda?
Yes, it is possible to earn money through scalping. While scalping may result in smaller individual profits per trade, it can significantly improve the overall ratio of winning trades to losing trades. This approach aims to capitalize on frequent small price movements in the market. However, it’s important to note that there are alternative trading strategies that some traders prefer, as they offer the potential for larger gains. Each trader should assess their own trading style, risk tolerance, and market conditions to determine which strategy suits them best.
Which market is best for scalping?
The ideal markets for scalping are those characterized by high volatility and tight trading ranges. These conditions provide ample opportunities for quick trades and taking advantage of small price movements. Some of the most popular markets for scalping include currencies in the forex market, individual stocks in the stock market, and cryptocurrencies in the digital asset market. These markets tend to exhibit the necessary volatility and liquidity that allow scalpers to execute their strategies effectively.
What time is the best for scalping?
Scalping is often favored during periods of increased trading volume and liquidity. One of the optimal times for scalping is when the London and New York sessions overlap, as this period typically sees a surge in market activity.
Do scalpers lose money?
Yes, scalpers can indeed experience losses in their trading activities. There are several reasons why scalping can result in financial losses.
How many trades do Rwandan scalpers do in a day?
Scalpers typically engage in a high volume of trades per day, ranging from a few trades to as many as 100 trades.
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