7 Best MT5 Brokers in Rwanda
The 7 Best MT5 Forex Brokers in Rwanda revealed. We tested and verified the best MT5 platforms from top forex brokers with a secure, dependable trading environment for Rwandan Traders.
This is a complete list of MT5 forex brokers in Rwanda.
In this in-depth guide you’ll learn:
- What is the MT5 platform?
- How does MetaTrader5 work as a platform?
- How to open an MT5 account?
- Who are the best MT5 brokers in Rwanda?
- How to choose a forex broker best suited for your trading style?
- Which broker offers a sign-up bonus for first-time traders?
- Which MT5 Brokers offer a demo account?
- Which MT5 Brokers have a low minimum deposit?
And lots more…
So if you’re ready to go “all in” with the best-tested MT5 forex brokers for Rwandans…
Let’s dive right in…
10 Best Forex Brokers in Rwanda for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
. 
- Louis Schoeman
Best MT5 Brokers for Rwanda Retail Traders – Comparison
| 🏛️ Broker | ✔️ MT5 Broker? | 💵 Minimum Deposit (RWF) | 📱 Rwanda RWF-based Account? | 💰 RWF Deposits Allowed? | 👉 Open Account |
| 1. Exness | Yes | 98980 | Yes | Yes | 👉 Open Account |
| 2. Alpari | Yes | 2414 | Yes | Yes | 👉 Open Account |
| 3. Admirals | Yes | 965 | No | Yes | 👉 Open Account |
| 4. AvaTrade | Yes | 100187 | No | Yes | 👉 Open Account |
| 5. HFM | Yes | 4828 | Yes | Yes | 👉 Open Account |
| 6. FXTM | Yes | 24141 | Yes | Yes | 👉 Open Account |
| 7. IG Group | Yes | 248657 | No | No | 👉 Open Account |
7 Best MT5 Brokers for Rwanda Retail Traders (2024)
- Exness – Overall, the Best Retail Accounts for Rwandans
- Alpari – Best Forex Broker for Beginner Traders
- Admirals – Top AutoCharist Broker
- AvaTrade – Best Forex Brokers for Advanced Rwanda Traders
- HFM – Verified RWF Trading Accounts
- FXTM – Best Customer Support for Rwandans
- IG Group – Top Regulated Forex Broker in Rwanda
What is an MT5 Forex Broker?
An MT5 Forex broker refers to a brokerage firm or platform that provides access to the MetaTrader 5 (MT5) trading platform for trading in the foreign exchange (Forex) market. MT5 is a popular and widely used trading platform developed by MetaQuotes Software, offering advanced features and tools for Forex and other financial instrument trading.
MT5 Forex brokers allow traders to access the Forex market and trade a wide range of currency pairs using the MT5 platform. The platform provides various functionalities such as real-time price quotes, interactive charts, technical analysis tools, automated trading capabilities, and the ability to execute trades directly from the platform.
MT5 Forex brokers typically offer a range of account types, including standard accounts, mini accounts, and sometimes even demo accounts for practice trading. They also provide access to different trading instruments, such as Forex currency pairs, commodities, indices, and cryptocurrencies.
In addition to the trading platform, MT5 Forex brokers may offer additional services such as educational resources, market analysis, economic calendars, and customer support to assist traders in their trading activities.
It’s important to note that while MT5 Forex brokers provide access to the MT5 platform, they may also offer other trading platforms, such as MetaTrader 4 (MT4), which is the predecessor to MT5. Traders should carefully consider the features, trading conditions, and reputation of the broker before choosing an MT5 Forex broker that best suits their trading needs.
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 is a global forex broker that provides online trading services to traders in Rwanda and around the world. The company was founded in 2008 and has since grown to become one of the most trusted and reputable brokers in the industry.
Exness offers traders access to a wide range of financial instruments, including currency pairs, commodities, indices, and cryptocurrencies. The broker also offers competitive spreads and low trading fees, making it an attractive option for traders of all levels.
One of the standout features of Exness is its dedication to providing traders with a high level of customer service and support. The broker offers 24/7 customer support via live chat, email, and phone, and its website is available in multiple languages, including English.
In addition, Exness is fully regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), ensuring that traders can trade with confidence.
Overall, Exness is a reputable and reliable broker that offers a wide range of trading instruments, competitive fees, and excellent customer service, making it a great choice for traders in Rwanda.
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 (RWF) | 98980 |
| 💸 Trading Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 💳 Rwanda RWF-based Account? | Yes |
| 💵 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwanda traders? | Yes |
| 📊 Minimum spread | From 0.0 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutions | There is a limited portfolio of financial instruments offered |
| Rwanda traders can choose between several retail investor accounts | Exness offers a limited number of payment methods that can be used for deposits and withdrawals |
| Exness offers an Islamic account conversion with no additional fees charged | |
| Instant deposits and withdrawals are offered | |
| Exness has customer support available 24 hours a day, 7 days a week |
2. Alpari
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
Alpari is a well-established global forex and CFD broker that offers its services to traders in Rwanda and around the world. Founded in 1998, Alpari has gained a solid reputation for its extensive range of financial instruments and advanced trading technology.
Rwanda traders can access a wide variety of financial instruments on the Alpari platform, including currency pairs, commodities, indices, stocks, and cryptocurrencies. This diverse selection allows traders to explore various markets and trading opportunities.
Alpari provides different account types to cater to the needs of various traders, including beginners and experienced professionals. Traders can choose between standard accounts and ECN accounts, each offering different features and trading conditions.
The broker utilizes the MetaTrader 4 and MetaTrader 5 trading platforms, which are well-known for their user-friendly interface, comprehensive charting tools, and extensive range of technical indicators. These platforms also support algorithmic trading and the use of expert advisors (EAs).
Alpari prioritizes security and regulatory compliance, holding licenses from reputable financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This ensures a high level of trust and confidence for traders.
Additionally, Alpari offers educational resources, including webinars, tutorials, and market analysis, to support traders in enhancing their trading skills and knowledge. Customer support is available to assist traders with any inquiries or technical issues they may encounter.
Overall, Alpari is a reputable broker with a wide range of financial instruments, advanced trading platforms, strong regulatory oversight, and educational resources. It can be an appealing choice for traders in Rwanda looking for a reliable and feature-rich trading experience.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| 📱 Social Media Platforms | • Facebook |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Forex Standard Account (MT4), Forex Micro Account (MT4), Forex ECN Account (MT4/5), Forex Pro Account (MT4) |
| 📲 Trading Platform | MetaTrader 4 and 5 |
| 💰 Minimum Deposit (RWF) | 2414 |
| 💸 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 💳 Rwanda RWF-based Account? | Yes |
| 💵 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwanda traders? | Yes |
| 📊 Minimum spread | from 0.4 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Alpari is one of the best brokers in Rwanda with a market share of over 14% | There is a limited selection of financial assets that can be traded |
| Advanced traders have access to AutoChartist, news from FxWirePro, and several additional tools | There are no fixed spread accounts offered |
| There are dynamic trading accounts that satisfy the trading needs of several types of traders | |
| Alpari offers MetaTrader 4 and 5 across devices | |
| Alpari has won several awards in the years that the broker has been offering trading services |
3. Admirals
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
Overview
Admiral Markets is a reputable global forex and CFD broker that provides online trading services to traders in Rwanda and worldwide. Established in 2001, Admiral Markets has gained a solid reputation for its comprehensive range of financial instruments and advanced trading technology.
Rwanda traders can access a wide array of financial instruments on the Admiral Markets platform, including currency pairs, commodities, indices, stocks, and cryptocurrencies. This diverse selection allows traders to explore different markets and trading opportunities.
Admiral Markets offers various trading account types to cater to the needs of different traders, including retail clients and professional traders. Traders can choose between accounts with different features and trading conditions, depending on their preferences and experience.
The broker utilizes the MetaTrader 4 and MetaTrader 5 trading platforms, renowned for their user-friendly interfaces, powerful charting tools, and extensive range of technical indicators. These platforms also support automated trading through expert advisors (EAs) and provide access to additional tools for advanced analysis.
Admiral Markets places a strong emphasis on security and regulatory compliance, holding licenses from well-respected financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This ensures a high level of trust and reliability for traders.
Moreover, Admiral Markets provides educational resources such as webinars, seminars, tutorials, and market analysis to support traders in enhancing their trading skills and knowledge. The broker also offers responsive customer support to assist traders with any inquiries or technical issues they may encounter.
Overall, Admiral Markets is a reputable broker with a wide range of financial instruments, advanced trading platforms, strong regulatory oversight, educational resources, and responsive customer support. It can be an appealing choice for traders in Rwanda seeking a reliable and feature-rich trading experience.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, ASIC, CySEC, EFSA, JSC |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Trade MT5 Account, Invest MT5, Zero MT5, Bets MT5, Trade MT4, Zero MT4 |
| 📲 Trading Platform | • MetaTrader 4 • MetaTrader 5 • Admirals Mobile App |
| 💰 Minimum Deposit (RWF) | 965 |
| 💸 Trading Assets | • ESG Trading • Instruments • Forex • Cryptocurrency CFDs • Commodities • Indices • Stocks • ETFs • Bonds • Spread Betting |
| 💳 Rwanda RWF-based Account? | No |
| 💵 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwanda traders? | Referral Programme |
| 📊 Minimum spread | from 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Admirals is well-regulated in several regions globally | There is an inactivity fee charged |
| Admirals offers commission-free options | Rwanda traders are subject to currency conversion fees |
| The broker accepts Rwanda traders despite their trading skills or trading strategies | There are deposit and withdrawal fees charged |
| There are user-friendly platforms available across devices | There are admin fees charged on the Islamic account |
| There is a wide range of tradable markets, complex instruments, and leveraged products | There is only one account type that can be converted to an Islamic Account |
| Admirals offers the MetaTrader Supreme Edition | |
| Traders are given access to premium analytics | |
| There are several educational materials, resources, and tools offered |
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 is a well-established global forex and CFD broker that offers its services to traders in Rwanda and worldwide. With a history dating back to 2006, Avatrade has built a strong reputation for its extensive range of financial instruments and innovative trading platforms.
Rwanda traders can access a wide variety of financial instruments on the Avatrade platform, including currency pairs, commodities, indices, stocks, and cryptocurrencies. This diverse selection allows traders to explore various markets and trading opportunities.
Avatrade provides different account types to cater to the needs of different traders, including retail clients and professional traders. Each account type offers different features and trading conditions to suit the preferences and experience levels of traders.
The broker offers several trading platforms, including the popular MetaTrader 4 platform, as well as its own proprietary platform, AvatradeGO. These platforms provide traders with powerful charting tools, technical indicators, and various order types, allowing for flexible and efficient trading.
Avatrade prioritizes security and regulatory compliance, holding licenses from respected financial authorities such as the Central Bank of Ireland, the Australian Securities and Investments Commission (ASIC), and the Financial Services Authority (FSA) in Japan. This ensures a high level of trust and confidence for traders.
Additionally, Avatrade offers a range of educational resources, including webinars, video tutorials, and market analysis, to support traders in enhancing their trading knowledge and skills. Customer support is also available to assist traders with any inquiries or technical issues they may encounter.
Overall, Avatrade is a reputable broker with a wide range of financial instruments, innovative trading platforms, strong regulatory oversight, educational resources, and responsive customer support. It can be an attractive choice for traders in Rwanda looking for a reliable and feature-rich trading experience.
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 (RWF) | 100187 |
| 💸 Trading Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 💳 Rwanda RWF-based Account? | No |
| 💵 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwanda traders? | Yes |
| 📊 Minimum spread | From 0.9 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade caters specifically to the unique needs of Muslim traders | There are no variable spreads offered |
| There is a dedicated selection of financial markets that Muslim traders can trade | There are inactivity fees applied as well as currency conversion fees |
| There is a demo account that can be used to test strategies, and practice trading | |
| There are no additional charges on the Islamic Account | |
| Professional traders can employ advanced technical indicators and access powerful research tools and resources | |
| There is a large range of financial instruments offered |
5. 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
HF Markets, also known as HotForex, is a global forex and CFD broker that provides online trading services to traders in Rwanda and around the world. The company was founded in 2010 and has since become a well-established and reputable broker in the industry.
HF Markets offers traders access to a wide range of financial instruments, including currency pairs, commodities, indices, and cryptocurrencies. The broker also offers competitive spreads and low trading fees, making it an attractive option for traders of all levels.
One of the standout features of HF Markets is its dedication to education and training for traders. The broker offers a range of educational resources, including webinars, tutorials, and market analysis, to help traders improve their skills and stay up-to-date with the latest market trends.
HF Markets is also known for its advanced trading tools and features, such as its proprietary trading platform, the HotForex MT4 and MT5 platforms, and its VPS hosting service.
HF Markets is fully regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Commission (FSC) of Mauritius, ensuring that traders can trade with confidence.
Overall, HF Markets is a reputable and reliable broker that offers a wide range of trading instruments, competitive fees, excellent customer service and educational resources, and advanced trading tools and features, making it a great choice for traders in Rwanda.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 📲 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit (RWF) | 4828 |
| 💸 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💳 Rwanda RWF-based Account? | Yes, along with ZAR and USD |
| 💵 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwanda traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There are tight, competitive spreads from 0.0 pips on EUR/USD | HFM only offers a few deposit and withdrawal methods to Rwanda |
| There is a demo account for beginners who are learning to trade and professional traders who are testing strategies | |
| Rwanda traders can register a trading account in either USD, ZAR | |
| Several asset classes can be traded through HFM | |
| Rwanda traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms |
6. 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, also known as ForexTime, is a renowned global forex and CFD broker that provides online trading services to traders in Rwanda and around the world. Since its establishment in 2011, FXTM has become a trusted name in the industry, known for its diverse range of financial instruments and client-centric approach.
Rwanda traders can access a wide variety of financial instruments on the FXTM platform, including major and minor currency pairs, commodities, indices, and shares. This extensive selection allows traders to explore different markets and take advantage of various trading opportunities.
FXTM offers multiple account types to cater to the needs of different traders, including standard accounts, cent accounts, ECN accounts, and more. Each account type has different features and trading conditions, allowing traders to choose the one that aligns with their preferences and trading strategies.
The broker utilizes the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are known for their user-friendly interfaces, advanced charting capabilities, and a wide range of technical analysis tools. These platforms also support automated trading through expert advisors (EAs) and provide access to additional features for enhanced trading.
FXTM emphasizes security and regulatory compliance, being regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight ensures a high level of trust and transparency for traders.
Furthermore, FXTM offers comprehensive educational resources, including webinars, seminars, educational articles, and market analysis, to assist traders in expanding their knowledge and improving their trading skills. The broker also provides multilingual customer support to address any queries or concerns traders may have.
Overall, FXTM is a reputable broker with a wide range of financial instruments, advanced trading platforms, strong regulatory oversight, comprehensive educational resources, and dedicated customer support. It can be an appealing choice for traders in Rwanda seeking a reliable and feature-rich 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 (RWF) | 24141 |
| 💸 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
| 💳 Rwanda RWF-based Account? | Yes |
| 💵 RWF Deposits Allowed? | Yes |
| 💰 Bonuses for Rwanda traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a popular and multi-regulated trading provider | There are inactivity fees that will be applied if the trading account goes dormant |
| FXTM offers its clients quick deposit and withdrawal methods with short processing times | |
| There are no deposit fees charged | |
| There are several educational materials offered | |
| FXTM offers dedicated, local support in multiple languages |
7. IG Group
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
Overview
IG Group is a well-established global financial services provider that offers its services to traders in Rwanda and worldwide. Founded in 1974, IG Group has decades of experience in the industry and is known for its comprehensive range of financial instruments and advanced trading platforms.
Rwanda traders can access a wide variety of financial instruments on the IG Group platform, including forex, indices, commodities, shares, and cryptocurrencies. This diverse selection allows traders to explore different markets and trading opportunities.
IG Group offers different account types to cater to the needs of various traders, including retail clients and professional traders. Each account type has its own features and trading conditions, providing flexibility and choice for traders based on their preferences and experience.
The broker provides cutting-edge trading platforms, including the popular IG trading platform and the MetaTrader 4 platform. These platforms offer advanced charting tools, a wide range of technical indicators, and various order types, enabling traders to execute trades efficiently and effectively.
IG Group prioritizes security and regulatory compliance, holding licenses from reputable financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). This ensures a high level of trust and reliability for traders.
Moreover, IG Group offers educational resources, including webinars, tutorials, and educational articles, to support traders in expanding their trading knowledge and skills. The broker also provides customer support that is available to assist traders with any inquiries or technical issues they may encounter.
Overall, IG Group is a reputable financial services provider with a wide range of financial instruments, advanced trading platforms, strong regulatory oversight, educational resources, and responsive customer support. It can be an attractive choice for traders in Rwanda looking for a reliable and feature-rich trading experience.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Various accounts according to region |
| 📲 Trading Platform | • MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API |
| 💰 Minimum Deposit (RWF) | 248657 |
| 💸 Trading Assets | • Forex • Indices • Shares • Commodities • Cryptocurrencies • Futures • Options |
| 💳 Rwanda RWF-based Account? | No |
| 💵 RWF Deposits Allowed? | No |
| 💰 Bonuses for Rwanda traders? | No |
| 📊 Minimum spread | from 0.6 pips on majors |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes, but only to residents of Dubai |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| IG has a long list of licenses, regulations, and authorizations from around the world, giving it a very high trust score of 99% | There is a high minimum deposit |
| IG offers several account types per global region | There are deposit fees charged |
| There are flexible trading and non-trading fees, ensuring that all types of traders receive tailored solutions | Only Dubai residents can apply for the Islamic Account |
| Rwanda traders are welcomed and given access to over 17,000 markets | There is a limited selection of deposit and withdrawal methods |
| There is a selection of trading platforms that cater towards different trading styles and levels of trading experience | There is no RWF-denominated account |
| There are no fees charged on withdrawals | Rwanda traders will face currency conversion fees |
Understanding MT5 functionality
MetaTrader 5 (MT5) is a popular trading platform used by forex, stocks, and commodities traders around the world. Here is an overview of how MT5 works:
Installation:
Traders can download the MT5 platform from their broker’s website and install it on their computer or mobile device.
Account creation:
Traders need to create an account with their broker and log in to MT5 using their account credentials.
Market watch:
Traders can access a list of available financial instruments, including currency pairs, stocks, commodities, and indices, in the market watch window.
Charts:
Traders can view charts of the financial instruments they are interested in trading, including candlestick, line, and bar charts. They can also add technical indicators and customize chart settings to suit their trading style.
Placing orders:
Traders can place orders directly from the MT5 platform, including market orders, limit orders, stop orders, and pending orders. They can also set take profit and stop loss levels to manage their risk.
Monitoring trades:
Traders can monitor their open trades, including profit and loss, and make changes to their orders as needed. They can also view their trading history and generate reports for analysis.
Expert advisors:
MT5 supports the use of expert advisors (EAs), which are automated trading programs that can execute trades based on pre-defined rules and conditions.
Additional features:
MT5 offers additional features such as a built-in economic calendar, news feed, and community chat, allowing traders to stay informed about market events and interact with other traders.
Overall, MT5 is a comprehensive and feature-rich trading platform that provides traders with a wide range of tools and capabilities to trade the financial markets effectively. It offers advanced charting, order execution, and analysis features, making it a popular choice among traders.
How to Choose a Forex Broker
Choosing a forex broker is an important decision for any trader, as it can significantly impact their trading experience and profitability. Here are some factors to consider when choosing a forex broker:
Regulation
It’s important to choose a broker that is regulated by a reputable financial authority in their home country or the country where they operate. This provides a level of protection for traders, as regulated brokers must adhere to certain standards and rules.
Trading platforms
The broker’s trading platform should be user-friendly, reliable, and offer a range of tools and features that suit the trader’s needs. Traders should consider whether the platform is available on desktop and mobile devices and whether it offers access to a range of financial instruments.
Spreads and fees
Traders should compare spreads and trading fees across different brokers to find the most competitive pricing. While low spreads can be beneficial, traders should also consider other fees such as commissions and swap rates.
Customer support
The broker should offer responsive and helpful customer support that is available through multiple channels, such as phone, email, and live chat.
Educational resources
The broker should provide educational resources such as webinars, tutorials, and market analysis to help traders improve their skills and knowledge.
Deposit and withdrawal options
Traders should consider the broker’s deposit and withdrawal options and ensure that they support their preferred payment methods.
Reputation
Traders should research the broker’s reputation online and look for reviews from other traders to get an idea of their experience with the broker.
By considering these factors, traders can choose a forex broker that meets their needs and helps them achieve their trading goals.
The Best Forex Brokers in Rwanda
In this list we have provided the finest brokers which provide MetaTrader 5 to Rwanda traders. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Rwanda traders.
Best selection of retail accounts for Rwanda 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
We selected Exness in this category, as it offers a comprehensive range of tailored trading accounts which can support a wide range of trading styles and strategies.
Best Forex broker for beginner Rwanda traders
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
Admirals is our best choice for beginner Rwanda traders, as it provides comprehensive educational resources and excellent customer support.
Best AutoChartist Forex broker for Rwanda traders
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Alpari is the best broker for AutoChartist enthusiasts in Rwanda , providing additional trading features for a comprehensive trading approach.
Best Forex broker for advanced Rwanda traders
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 provides experienced Rwanda traders with a wealth of additional trading tools and features to support a wide range of advanced trading strategies.
Best Broker with RWF trading accounts for Rwanda traders
Overall Rating
- 4.8/5
Min Deposit
USD 5
Regulators
CySEC, FSC, CFTC
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
HFM is extremely popular with Rwanda traders, not least of all for their specially adapted RWF trading accounts, which allow Rwanda traders to make deposits in their local currencies. This has numerous benefits, including the avoidance of conversion fees, and faster deposit and withdrawal times.
Best Forex broker offering customer support to Rwanda traders
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
FXTM is particularly popular around the world, and in Rwanda specifically, due to the broker’s excellent multilingual customer support. This is essential to successful trading and for an overall positive trading experience.
Best regulated Forex broker for Rwanda traders
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
IG Group is extremely well-regulated and has a highly reputable industry reputation, providing Rwanda traders with a safe and secure trading environment.
FAQ
What is MT5?
MT5 was released by MetaQuotes in 2010 as the updated version of MetaTrader 4. MT5 provides additional features not available on the MT4 platform.
What are the benefits of trading with MT5?
With MT5, market, pending, stop, and trailing stop orders are all supported by the platform, making it an advanced and comprehensive platform for Rwandan traders.
What are MT5 Forex brokers?
MT5 Forex brokers make this platform especially available to Rwandan traders. MT5 can be downloaded directly from supporting brokers to either your own PC or mobile device, or used directly online through the broker.
Which traders should use MT5?
While MT5 is broadly compatible and available to all traders, it is best used by experienced or advanced Rwandan traders.
Which brokers offer MT5?
Not all Forex brokers offer MT5 to traders in Rwanda. In this article we have listed the best MT5 brokers which also provide excellent trading conditions and competitive pricing.
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