10 Best NDD Forex Brokers in Rwanda
The 10 Best NDD Forex Brokers for Rwandan Traders were revealed. We tested and verified the best NDD Forex Brokers for Rwandan Traders.
This is a complete list of forex brokers with NDD Forex Brokers in Rwanda.
In this in-depth guide you’ll learn:
- What is a No Dealing Desk (NDD) broker?
- Why traders in Rwanda should sign up with an NDD broker?
- Who is the best forex broker with a Franc trading account?
- Which NDD brokers have local offices in Rwanda
- Which is the #1 Best low bandwidth trading app for Rwandans
- How to choose a forex broker – Compare them side by side by minimum deposit, RWF-based accounts, and much more.
- Our list of the best NDD Forex brokers
And lots more…
So if you’re ready to go “all in” with the best-tested NDD forex brokers for Rwandans…
Let’s dive right in…
10 Best Forex Brokers in South Africa for 2023
Rank
Broker
Review
Regulators
Min Deposit
Official Site
. 
- Louis Schoeman
Best NDD Forex Brokers in Rwanda – Comparison
| 🥇 Broker | ✔️ NDD Broker? | 💸 Minimum Deposit (RWF) | 💰 Rwandan Franc-based Account? | 💳 RWF Deposits Allowed? | 👉 Open An Account |
| 1. Exness | ✔️ Yes | 99481 | Yes | Yes | 👉 Open Account |
| 2. Alpari | ✔️ Yes | 2426 | Yes | Yes | 👉 Open Account |
| 3. FP Markets | ✔️ Yes | 74732 | Yes | No | 👉 Open Account |
| 4. FXTM | ✔️ Yes | 24263 | Yes | Yes | 👉 Open Account |
| 5. XM | ✔️ Yes | 4852 | No | Yes | 👉 Open Account |
| 6. AvaTrade | ✔️ Yes | 100694 | No | No | 👉 Open Account |
| 7. HFM | ✔️ Yes | 4852 | Yes | Yes | 👉 Open Account |
What is an NDD Forex Broker?
Scam brokers frequently make false promises like “earn $50 per day with a $250 investment” or “generate 80% returns on profit signals” or “achieve a 96% success rate.” It’s important to recognize that these claims are fraudulent, regardless of whether they pertain to forex, CFDs, or binary options. Legitimate forex brokers should never guarantee specific returns, whether they are small or large.
10 Best NDD Forex Brokers in Rwanda (2023)
- FP Markets – Overall, Best NDD Broker in Rwanda
- GO Markets – Best Broker to Provide VPS to Rwandans
- XM – Best Bonuses for Rwanda Traders
- Alpari – Best Franc-Based Accounts
- FXTM – Best Tight Spread Forex Broker
- AvaTrade – Best Proprietary Software Broker
- HFM – Best MetaTrader5 Broker
- Admirals – Best Broker for Beginner Rwanda Traders
- OctaFX – Best Instant Deposit and Withdrawal Broker
- Tickmill – Best MetaTrader4 Broker in Rwanda
1. FP Markets
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
FP Markets, a prominent financial services provider in Australia, was established in 2005. The company, headquartered in Sydney, has received multiple accolades for its exceptional client service, comprehensive education resources, and efficient trade execution.
FP Markets offers Rwandan traders the opportunity to utilize the renowned MetaTrader 4 platform. Moreover, traders have access to an extensive range of nearly 10,000 trading instruments, with spreads as low as 0.01%.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC |
| 📲 Social Media Platforms | • Instagram • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📱 Trading Platform | MT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account |
| 💸 Minimum Deposit (RWF) | 74732 |
| 💵 Trading Assets | • Forex • Shares • Metals • Commodities • Indices • Cryptocurrencies • Bonds |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | No |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| FP Markets is a well-regulated broker that has a high level of trustworthiness | There are no fixed spread accounts offered |
| There is a wide range of markets that can be traded across asset classes | There is no dedicated Franc account offered to Rwandan traders |
| There are powerful trading platforms supported across devices | There are withdrawal fees charged |
| Rwandan traders receive an ECN pricing model with raw and tight spreads | There are administration fees charged on the Islamic Account |
| There is guaranteed fast trade execution through the Equinix servers | |
| Commission-free trading is provided | |
| There is a dedicated Islamic account option for Muslim traders | |
| There are no inactivity fees charged on dormant accounts | |
| Copy-trading and automatic trading is offered |
2. GO Markets
Overall Rating
- 4.9/5
Min Deposit
200 USD/204 461 RWF
Regulators
ASIC, CySec, FSC, FSA & SCA
Trading Desk
Hybrid
Crypto
Yes
Total Pairs
600+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
GO Markets boasts a diverse clientele hailing from over 150 countries, making it a reputable choice for both novice and seasoned Rwandan traders in the Forex and CFD markets.
GO Markets provides a comprehensive range of tools, assets, and favorable trading conditions. Rwandan traders can access trading opportunities on the MT4 and MT5 platforms, encompassing Forex, share CFDs, indices, metals, and commodities. Additionally, traders can benefit from excellent analysis tools like Autochartist and Trading Central.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FSA Seychelles, FSC Mauritius, CySEC |
| 📲 Social Media Platforms | • Instagram • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Standard Account, GO+ Account |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 |
| 💸 Minimum Deposit (RWF) | 149707 |
| 💵 Trading Assets | • Forex CFDs • Share CFDs • Index CFDs • Metal CFDs • Commodity CFDs |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | No |
| 💸 Bonuses for Rwandan traders? | No |
| 📊 Minimum spread | From 0.1 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | No |
Pros and cons
| ✔️ Pros | ❌ Cons |
| GO Markets is a well-regulated broker with a high trust score | There is a high minimum deposit |
| GO Markets offers powerful and user-friendly trading platforms across devices | There is no Islamic account option provided for Muslim traders |
| There are commission-free trading options offered | Rwandan traders may face currency conversion fees when they deposit in Rwandan Franc |
| GO Markets offers tight spreads and competitive commissions | There are no local deposits and withdrawals offered to Rwanda traders |
| Trading Central, VPS, Myfxbook, AutoChartist, and MT4/5 Genesis is offered | There are no Rwandan Franc-denominated accounts |
| Traders have access to a-Quant tools | |
| There is a comprehensive GO Trade Academy educational portal for beginners | |
| GO Markets offers dedicated customer support |
3. XM
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
XM has gained popularity among both beginner and experienced traders in Rwanda due to its exceptional trading platform.
With XM, traders can enjoy a transparent trading experience without hidden costs or commissions. The order execution speed is remarkably fast, with 99.35 percent of orders being executed in under a second. This has earned XM the reputation of being a next-generation broker for online Forex trading in Rwanda.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📲 Social Media Platforms | • Facebook • YouTube |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💸 Minimum Deposit (RWF) | 4852 |
| 💵 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| XM has more than 5 million active clients from around the world | Inactivity fees apply |
| Client fund safety is guaranteed, and XM offers investor protection to Rwandan traders | There are no fixed spreads offered |
| XM has won several industry awards since its establishment in 2009 | |
| There are no commissions charged on either deposits or withdrawals | |
| XM is a low-cost forex broker with a high trust score |
4. 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 Financial Services Ltd. (Alpari), a renowned independent Forex broker, offers a wide range of products and services to cater to diverse trading needs.
At Alpari, traders have access to a variety of account types to choose from. Moreover, the company’s customer service team is available in more than 30 languages, ensuring effective support for traders worldwide. For beginner traders in Rwanda, Alpari provides the option to utilize demo accounts and copy trading, enabling them to practice their trading skills.
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) | 2426 |
| 💵 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 💰 Rwandan Franc-based Account? | Yes |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.4 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
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 |
5. FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
FXTM, a renowned and award-winning broker, prioritizes exceptional client service by providing assistance through various channels and in multiple languages, round the clock, every day of the year.
As a novice trader from Rwanda, you will have access to a plethora of educational resources, documents, and tools to enhance your trading knowledge. FXTM offers the widely acclaimed MetaTrader 4 and MetaTrader 5 trading platforms for your convenience.
For traders who prefer to stay mobile, the MetaTrader 4 app is available for both Android and iOS devices, allowing seamless trading on the go.
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) | 24263 |
| 💵 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets |
| 💰 Rwandan Franc-based Account? | Yes |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| 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 |
6. AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
AvaTrade, a reputable Forex/CFD broker, holds a prominent position as one of the pioneering brokerages in the retail Forex/CFD market. With a global presence, they now extend their services to Rwandan traders.
As a highly regulated brokerage, AvaTrade operates in six different countries, ensuring adherence to strict regulatory standards.
With a customer base exceeding 200,000 and facilitating over 2 million trades per month, AvaTrade has established itself as a leading player in the industry. While they have developed their own trading platforms, they also prioritize the popular and widely recognized MetaTrader 4 (MT4) platform.
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) | 4852 |
| 💵 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💰 Rwandan RWF-based Account? | Yes, along with ZAR and USD |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
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 |
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, a broker with a long-standing history, focuses exclusively on the MetaTrader 4 (MT4) platform. They offer comprehensive support for trading through various channels, including the web, smart devices, and desktop versions.
HFM goes the extra mile by partnering with Blue Labs to provide a range of premium trader tool add-ons. These add-ons enhance the trading experience for Rwandan traders, offering advanced functionalities and capabilities.
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) | 4852 |
| 💵 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💰 Rwandan Franc-based Account? | Yes, along with ZAR and USD |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
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 Rwandans |
| There is a demo account for beginners who are learning to trade and professional traders who are testing strategies | |
| Rwandan traders can register a trading account in either USD, ZAR, or RWF | |
| Several asset classes can be traded through HFM | |
| Rwandan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms |
8. 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
Admirals, a renowned NDD Forex broker, stands out for its advanced research tools and a wide range of trading options. Rwandan traders can access over 4,000 assets, including Bonds, ETFs, Cryptocurrencies, and Forex, among others.
Besides being closely regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), Admirals has been recognized with numerous prestigious awards for their exceptional services.
With a minimum deposit requirement of $100, Admirals offers highly competitive trading conditions, including a low Forex spread of 0 pips, which is incredibly advantageous for traders.
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) | 970 |
| 💵 Trading Assets | • ESG Trading • Instruments • Forex • Cryptocurrency CFDs • Commodities • Indices • Stocks • ETFs • Bonds • Spread Betting |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | Yes |
| 💸 Bonuses for Rwandan 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 | Rwandan traders are subject to currency conversion fees |
| The broker accepts Rwandan 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 |
9. OctaFX
Overall Rating
- 4.6/5
Min Deposit
USD 5
Regulators
FCA UK
Trading Desk
None
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
OctaFX is a highly reputable platform for CFD and Forex trading, recognized for its exceptional trading conditions and narrow spreads. With a presence in over a hundred countries, OctaFX has now expanded its services to Rwanda, providing reliable trading opportunities.
Apart from Forex, commodities, and CFD markets, OctaFX offers a diverse range of products, including CFDs, to cater to the needs of Rwandan traders.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC) |
| 📲 Social Media Platforms | • Facebook • YouTube • Telegram |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💸 Minimum Deposit (RWF) | 100694 |
| 💵 Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | No |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.6 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| OctaFX offers reliable, instant deposits and withdrawals | Offshore broker with tier-2 regulation, which is not ideal |
| The broker offers copy trading accounts through its proprietary trading app | There is a limited selection of trading instruments offered |
| Offers social trading opportunities | There is a limited selection between retail accounts |
| OctaFX is a broker that accommodates all types of traders in a transparent and safe trading environment from beginner traders, active traders and professionals | Limited options for base currencies on accounts |
| The trading conditions that OctaFX offers Rwandan traders are transparent and reasonable | |
| Commission-free trading is offered on all retail investor accounts along with tight spreads | |
| Offers an unlimited virtual trading account and an Islamic Account for Muslim traders | |
| There is a range of advanced trading tools offered | |
| OctaFX offers versatile and reliable payment methods for deposits and withdrawals |
10. Tickmill
Overall Rating
- 4.7/5
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
Overview
Tickmill, as a No Dealing Desk (NDD) broker, ensures that every order placed by Rwandan traders on their platform is sent directly to third-party liquidity providers. This means that Tickmill does not have any conflict of interest with its traders.
Rwandan traders have the option to use MetaTrader 4 or the newer MetaTrader 5 platform on Tickmill. Additionally, customer support is available 24/7 via email, chat, and phone.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📲 Social Media Platforms | • Facebook • YouTube • Telegram |
| 🏛 CBN Regulation? | No |
| 💻 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💸 Minimum Deposit (RWF) | 100694 |
| 💵 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 💰 Rwandan Franc-based Account? | No |
| 💳 RWF Deposits Allowed? | No, only USD, GBP, EUR, IDR, CNY, VND, or RUB |
| 💸 Bonuses for Rwandan traders? | Yes |
| 📊 Minimum spread | From 0.0 pips |
| 💻 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and cons
| ✔️ Pros | ❌ Cons |
| Tickmill offers robust trading platforms and innovative mobile trading | Currency conversion fees will apply for Franc deposits |
| Tickmill has a very high trust score and is known for its competitive trading conditions | There are no fixed spread accounts offered |
| There are several convenient funding options available including Skrill, Neteller, and others | The spreads are not the tightest |
| Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others |
Benefits of using NDD brokers for Rwandan traders
Using Non-Dealing Desk (NDD) brokers can offer several benefits to traders in Rwanda:
Direct Market Access:
NDD brokers provide direct access to the market, allowing traders to interact with liquidity providers without the intervention of a dealing desk. This ensures transparent pricing and fair execution of trades.
Tighter Spreads:
NDD brokers often offer tighter spreads by aggregating prices from multiple liquidity providers. This can result in better trading conditions and lower trading costs for traders, potentially increasing profitability.
No Conflict of Interest:
NDD brokers act as intermediaries and do not profit from client losses. As a result, there is no conflict of interest between the broker and the trader, instilling trust and ensuring that the broker’s incentives are aligned with the success of their clients.
Market Depth:
NDD brokers provide access to market depth information, allowing traders to see the available liquidity at different price levels. This information helps traders make more informed trading decisions and potentially find better entry and exit points.
Faster Execution:
NDD brokers typically offer faster order execution due to their direct market access. This ensures trades are executed promptly at the best available market prices, reducing the risk of slippage and maximizing the efficiency of trade execution.
Anonymity:
NDD brokers maintain trader anonymity by not revealing their identity to liquidity providers. This can be beneficial for traders who prefer to keep their strategies private or avoid potential bias from liquidity providers.
Diverse Trading Strategies:
NDD brokers often allow traders to freely implement various trading strategies, such as scalping, hedging, or news trading, without restrictions. Traders have the flexibility to pursue their preferred trading approach without limitations imposed by the broker.
Enhanced Market Transparency:
NDD brokers offer increased market transparency by providing real-time bid and ask prices from liquidity providers. The transparency provided by NDD brokers enables traders to accurately assess market conditions and make well-informed trading decisions based on real-time information.
Access to Multiple Markets:
NDD brokers usually offer access to a diverse range of financial markets, including forex, commodities, indices, and cryptocurrencies. Traders can explore multiple markets and take advantage of various trading opportunities. This allows traders in Rwanda to diversify their trading portfolio and explore different market opportunities within a single brokerage account.
When selecting an NDD broker, traders in Rwanda should carefully consider factors such as regulation, reputation, trading platforms, customer support, and available trading instruments. Conducting thorough research and due diligence ensures a reliable and suitable trading experience.
The Best NDD Forex Brokers for Rwandan Traders
Trading in an NDD environment offers numerous advantages for Rwandan traders, including access to competitive pricing and enhanced trading security. In this article, we explore the top NDD brokers for Rwandan traders based on a comprehensive study conducted by our staff in March 2023. This article has helped over 350 new traders in Rwanda make informed trading decisions.
To ensure the accuracy of the data, our forex research team verified it on the brokers’ official websites and datasheets. We also confirmed the latest information on trading offers by contacting their online live chat support.
The selection criteria for the list were based on seven parameters that are important to most Rwandan traders when choosing a broker:
- Best Customer Support
- Lowest Spreads and Commissions
- Regulation
- Variety of Trading Instruments
- Highest Leverage
- Negative Reviews by Clients
- Minimum Deposit to Start Trading
Based on the results of the case study and our evaluation of the trading data, we have selected the following brokers as the best forex brokers for Rwandan traders. We have presented the information in a scannable format for your convenience:
- FP Markets
- GO Markets
- XM
- Alpari
- FXTM
- AvaTrade
- HFM
- Admirals
- OctaFX
- Tickmill
These brokers have demonstrated excellence in the above-mentioned parameters, making them suitable choices for Rwandan traders.
How to Choose a Forex Broker
Choosing a forex broker requires careful consideration to ensure a reliable and suitable trading experience. Here’s a step-by-step guide to help you make an informed decision:
Regulation:
Ensure that the broker is regulated by a reputable financial authority. Regulation provides protection and oversight, ensuring that the broker operates fairly and transparently.
Trading Platform:
Evaluate the broker’s trading platform. It should be user-friendly, stable, and offer essential features like charting tools, order types, and real-time price quotes. Test the platform’s demo account if available.
Tradable Instruments:
Check the range of financial instruments offered by the broker. Ensure they provide access to the currency pairs, commodities, indices, or stocks you want to trade.
Spreads and Fees:
Compare the spreads and fees charged by different brokers. Low spreads reduce trading costs, but be mindful of other fees, such as commissions, swap rates, or withdrawal charges.
Leverage:
Understand the leverage options provided by the broker. Leverage amplifies your trading position, but it also increases risk. Ensure the leverage offered aligns with your risk tolerance and trading strategy.
Customer Support:
Test the broker’s customer support by reaching out with questions or concerns. Prompt and helpful support is crucial when you encounter issues or have inquiries.
Account Types:
Check if the broker offers various account types to cater to different trading needs. Consider factors like minimum deposit requirements, account currencies, and account benefits or bonuses.
Deposit and Withdrawal Options:
Ensure the broker supports convenient and secure payment methods for deposits and withdrawals. Consider factors like transaction fees, processing times, and availability of local payment options.
Educational Resources:
Look for brokers that provide educational resources, such as trading guides, webinars, or market analysis. These resources can help enhance your trading knowledge and skills.
Reputation and Reviews:
Research the broker’s reputation by reading reviews, forum discussions, or seeking recommendations from other traders. Pay attention to any recurring concerns or red flags.
Trading Tools and Features:
Consider any additional trading tools and features offered by the broker. Examples include risk management tools, market research, economic calendars, or social trading platforms.
Mobile Trading:
If you prefer trading on-the-go, check if the broker offers a mobile trading app compatible with your device. The app should provide a seamless trading experience with essential features.
Security:
Assess the broker’s security measures, such as encryption protocols and segregated client funds. Your funds and personal information should be adequately protected.
Demo Account:
Before committing real funds, utilize a broker’s demo account to practice trading and familiarize yourself with their platform and services.
By carefully evaluating these factors, you can select a forex broker that aligns with your trading goals, preferences, and risk tolerance. Remember that personal needs may vary, so take the time to research and compare multiple brokers before making a final decision.
The Best Forex Brokers in Rwanda
In this article we have listed the best NDD Forex brokers for Rwanda traders. Of these brokers, we have further identified the forex brokers that offer additional services and solutions to Rwandan traders.
Best Forex broker accepting RWF deposits for Rwandan traders
Overall Rating
- 4.9/5
Min Deposit
100 USD/101 652 RWF
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FP Markets is an excellent choice and the best Forex broker for Rwanda traders who wish to deposit in Franc, so avoiding conversion fees on their accounts.
Best Forex broker providing VPS to Rwanda traders
Overall Rating
- 4.9/5
Min Deposit
200 USD/204 461 RWF
Regulators
ASIC, CySec, FSC, FSA & SCA
Trading Desk
Hybrid
Crypto
Yes
Total Pairs
600+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
GO Markets provides Rwanda traders with direct VPS access, ensuring a streamlined trading process.
Best Forex broker providing bonuses to Rwanda traders
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
XM is a well-regulated and reputable Forex broker which offers excellent bonuses and promotions to Rwanda traders, allowing them to enhance their trading positions.
Best Forex broker offering Franc-based accounts to 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
While some other brokers do accept deposits in Franc, Alpari International provides fully Franc-based accounts to Rwanda traders, allowing for faster deposits and lower transaction fees.
Best tight spread Forex broker for 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 makes the cut as the best broker offering tight spreads from 0.0 pips to Rwanda traders, along with a beginner-friendly trading environment and excellent customer support.
Best Forex broker providing a proprietary trading platform to 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 is repeatedly ranked as the best broker for Rwanda traders seeking proprietary trading software, which is offered through the broker’s multi-award-winning AvaTradeGO app.
Best MetaTrader 5 Forex broker 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 provides Rwanda traders with the best access to MetaTrader 5, which is the updated version of MT4 and is an excellent choice for experienced traders in Rwanda.
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 an excellent option for beginner Rwanda traders, as they are popular for their comprehensive educational resources and wealth of updated and insightful trading articles.
Best Forex broker providing instant deposits and withdrawals to Rwanda traders
Overall Rating
- 4.6/5
Min Deposit
USD 5
Regulators
FCA UK
Trading Desk
None
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
OctaFX is the best choice for Rwanda traders seeking instant deposits and withdrawals, which will allow them to trade faster and enjoy their profits sooner.
Best MT4 Forex broker for Rwanda traders
Overall Rating
- 4.7/5
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
Tickmill is a pure MT4 broker which provides an excellent and user-friendly trading environment to Rwanda traders.
you might also like: Best Binary Options Brokers
you might also like: Best Forex Brokers for Scalping
you might also like: Best Forex Trading Platforms
FAQ
What is an NDD Forex broker?
An NDD (No Dealing Desk) broker allows Rwandan traders to access the foreign exchange market directly, without the need to go through a dealing desk.
What types of NDD brokers are there?
NDD brokers are divided into STP (Straight through processing) & ECN (Electronic Communications) brokers.
What is a No Dealing Desk?
A No Dealing Desk (NDD) is a trading platform provided by a forex broker that grants traders unfiltered access to interbank market rates of exchange.
What is a market maker?
A market maker (MM) broker is a type of broker that internally creates a market by offering its own bid and ask prices. The quoted prices by the market maker FX mimic those from the interbank market. However, it’s important to note that the market maker acts as the counterparty to all your trades. In addition, traders are typically provided with a mark-up bid-ask spread by the market maker.
Which are the best NDD brokers in Rwanda?
Not all brokers offer an NDD trading environment, and the best NDD brokers for Rwandan traders are featured on this list.
Table of Contents
