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Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

5 Best Forex Brokers in Zambia

In 2021, the Bank of Zambia lifted Forex limits, allowing Zambians to withdraw more capital in foreign currencies and attempting to disrupt a parallel market and stabilize its currency, the Kwacha. Now there is an explosion of interest in Forex trading, more Forex brokers are positioning to service Zambian resident traders. Check out my review below of the best to help you make your choice.

The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Pivot Point Strategy plugin for MT4 & VPS hosting for 24/5 low-latency trading.
African payment solutions & proprietary mobile app.
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Choice of copy trading services & Guardian Angel MT4/MT5 plugin.
High-quality educational content for beginner traders & well-established broker.
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
TradingView for social traders & four copy trading services plus three trading platforms.
Capitalise AI for code-free algorithmic trading & competitive commission-based fees.
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Micro lot trading from 0.01 lots or 1,000 currency units & a $100 minimum deposit.
A well-regulated broker with multilingual customer support, including phone support.
Your investment value may change. Capital is at risk.
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Leading copy trading broker with 30M+ traders & a user-friendly mobile app.
Quality educational offering for beginners & low minimum deposit requirements.

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • Pepperstone, Great ECN execution on MT4 platform.
  • DNA Markets, Super asset selection for Forex and cryptocurrency traders.
  • eToro, Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money.

Best Zambia Brokers Comparison

Year Established
Execution Type(s)
ECN/STP, Market MakerMarket MakerNo Dealing Desk, NDDECN/STP, Market MakerMarket Maker
Minimum Deposit
$50 - $10,000
Average Trading Cost EUR/USD
0.1 pips0.9 pips1.1 pips1.1 pips ($11.00)1.0 pips
Average Trading Cost GBP/USD
0.2 pips1.5 pips1.6 pips1.3 pips ($13.00)2.2 pips
Average Trading Cost Gold
$0.18 $0.29 $0.20 $0.12 $0.45
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformOther, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, cTrader, Trading ViewMetaTrader 4, MetaTrader 5Proprietary platform
Islamic Account
Negative Balance Protection


In Summary Best all-around broker with high floating leverage and fast execution

FXTM presents a broad range of deposit and withdrawal methods, and quality education, making it a leader for traders located in emerging and frontier markets, deserving of a spot on our Forex brokers in Zambia list. While traders must deposit a minimum of $500 for an ultra-competitive trading environment, it is well worth it due to the average execution speed of 0.072 seconds, and an average price improvement of 0.29 pips or $2.90 per lot.

Traders get the core MT4/MT5 trading platforms, supportive of algorithmic and copy trading, and the proprietary copy trading service FXTM Invest, streamlined for passive, mobile trading. FXTM presents 1,000+ assets, direct share investments, and in-house constructed thematic stock baskets for investors.

Read more on FXTM »
5.0/5 in this category

Pros & Cons

  • Excellent commission-based Forex pricing environment and transparency
  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
  • Quality market research and educational content for beginner traders
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities


In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade presents clients with an excellent choice of trading platforms and landed on our most well-rounded Forex brokers Zambia ranking. Besides the core MT4/MT5 platforms, ideal for algorithmic traders, AvaTrade deploys its proprietary web based AvaTrade WebTrader, options alternative AvaOptions, and popular mobile app AvaTradeGO. Social traders may use Ava Social, ZuluTrade, or DupliTrade.

Beginners get the high-quality, spun-out trading academy SharpTrader, one of the most in-depth courses in the industry. AvaTrade maintains 1,250+ assets in a commission-free pricing environment, and vanilla options support complex trading strategies for advanced traders. The partnership program has 70,000+ partners from 150+ counties and 250M+ commission payouts, making it ideal for passive income generation. AvaTrade is also one of the most trusted and highest-ranked Forex brokers.

Read more on AvaTrade »
4.9/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special


In Summary Great ECN execution on MT4 platform

Pepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai, is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offer raw spreads and low commissions. Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA).

Read more on Pepperstone »
4.8/5 in this category

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
  • Leverage of up to 1:30 and superb trade execution
  • Demo accounts have 30-day time limits

DNA Markets

In Summary Super asset selection for Forex and cryptocurrency traders

Traders get a well-balanced asset selection of 800+ trading instruments on MT4/MT5, which fully support algorithmic trading and has embedded copy trading services. DNA Markers also connects traders to the fee-based copy trading provider Signal Start, which it promotes by paying for the first three months of services. The commission-based account features a competitive cost structure of raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot.

The partnership program offers another passive income opportunity for traders. Therefore, I rank DNA Markets as the best Forex broker in Zambia for passive trading strategies.

Read more on DNA Markets »
4.7/5 in this category

Pros & Cons

  • Competitive, commission-based trading fees
  • Choice of payment processors, including cryptocurrencies
  • Excellent choice of Forex and cryptocurrency pairs
  • MT4/MT5 trading platforms for algorithmic and copy trading
  • Limited commodity asset selection and no ETF trading


In Summary Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money

Social traders should consider eToro, home to an active trading community exceeding 25M traders. It maintains 2,000+ trading instruments, in-house managed thematic investment portfolios, and direct share dealing for passive portfolios. Traders only get its proprietary trading platform suitable for manual trading. CopyTrader and CopyPortfolios remain at the core of its operations, placing eToro on our Forex brokers in Zambia list for social trading.

Cryptocurrency traders get a competitive brokerage at eToro, which has developed its crypto wallet. It also acquired Dutch and Belgian cryptocurrency companies and launched an NFT fund. Beginners get quality services via the eToro Academy, eToro Plus for in-depth analytics, and The Bull Club for insights with market leaders. Active trader rewards exist at the eToro Club.

Read more on eToro »
4.5/5 in this category
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Your investment value may change. Capital is at risk.

Pros & Cons

  • Active investment community ideal for social trading
  • Dedicated tools for social trading
  • Broad cryptocurrency selection
  • Expanding educational offering for beginner traders
  • Internal withdrawal fees

Is Forex Trading Legal in Zambia?

Forex trading is legal in Zambia, and as one of the most urbanized of sub-Saharan countries, many have access to a stable internet connection, a requirement to trade Forex successfully. While Zambia does not have local Forex brokers, most well-respected and trustworthy international Forex brokers accept Zambian Forex traders, and some offer localized deposit and withdrawal options.

Millennial and GenZ traders account for most of the demand and bring their preferences, consisting of mobile trading, social and copy trading, PAMM accounts, passive income generation opportunities, low deposit requirements, and attractive incentives. The best Forex brokers in Zambia will also provide beginners with high-quality educational content. There are no legal restrictions on Zambian Forex traders to open trading accounts with offshore brokers.

How to Choose a Forex Broker in Zambia

Trading with a competitive Forex broker is a requirement but choosing one from thousands of international Forex brokers can overwhelm even experienced traders. We composed our Forex brokers in Zambia list to help you select from the best Forex brokers in Zambia, helping you get started with a reliable broker.

Here is a checklist on how to choose a Forex broker:

1. Regulation - Zambian Forex traders should avoid unregulated brokers, but not all regulators allow a competitive trading environment.

2. User Reviews - They are often misleading and posted by traders who have failed to understand terms and conditions or by employees of brokers to post fake positive reviews about their services and fake negative ones on competitors.

3. Trading Platforms - The MT4 trading platform, fully supportive of algorithmic and copy trading, remains the best choice for Forex traders, as it comes with 25,000+ EAs, plugins, and custom indicators.

4. Trading Fees - Costs will impact every strategy. Forex traders should look for commission-based pricing environments with raw spreads between 0.0 and 0.01 pips for a commission below $7.00 per round lot plus a volume-based rebate program. Commission-free alternatives should have minimum spreads of 0.7 pips or less.

5. Customer Support - A 24/5 multilingual customer support team, a phone number, and live chat are essential for quality customer support.

6. Risk Management - Since Forex trading involves leverage, Forex traders must ensure negative balance protection and an automatic stop-out level exist.

7. Traded Currencies - A Forex broker offering 55+ currency pairs provides adequate exposure, supports portfolio diversification, and allows traders to find sufficient trading opportunities.

How Much Do I Need to Start Trading Forex in Zambia?

While some Forex brokers have no minimum or low minimum deposit requirements, including those on our most competitive Forex brokers Zambia lists, beginners should ideally aim for no less than $500 unless they can access trading in nano-lots. Anything less makes Forex trading either unsustainable or risky. It is best to implement a monthly deposit plan following the initial one to grow the portfolio through a combination of deposits and earnings until it reaches the size required to deliver desired results.

How Can I Invest in Forex in Zambia?

The first step for Forex trading in Zambia is education. Beginners should not rush this process, as it will form their foundation and dictate their success or failure as a Forex trader.

Following education, Zambian Forex traders should consider the following:

  • Select a trustworthy Forex broker like the ones from our Forex brokers Zambia list
  • Ensure a low-cost Forex cost structure exists, with total costs per lot not exceeding $7.00
  • A trading platform supportive of algorithmic, social, and mobile trading like MT4, MT5, cTrader, or proprietary alternatives, ideal for the tech-savvy Zambian trader base
  • A Forex broker with low minimum deposit requirements and modern, low-cost, online payment processors
  • A competitive and appropriate leverage offer, plus negative balance protection
  • Opening and funding the trading account is the final step for Zambian Forex traders, which will grant them access to the Forex market

Can I Buy Zambian Stocks Online?

The Lusaka Stock Exchange (LuSE) only lists 22 companies, and the LuSE Alt-M offers a marketplace for small-cap and mid-cap companies. The LuSE aims to develop wealth and investment in Zambia.

Here is how Zambian traders can buy stocks online:

  • The LuSE lists ten approved brokers, and Zambian traders should research them to find the most suitable one
  • Since the LuSE only lists 22 equities, Zambian traders should evaluate the international offering of each broker for diversification, especially the availability of ETFs
  • Open and fund your equity account, research assets, and buy stocks and other assets you like to own
  • Transactions on the LuSE have a fixed transaction fee of 1.375%
  • International traders who want exposure to the Zambian equity market should rely on ETFs, as they offer the most efficient overall exposure with balanced risk

Where Can I Learn to Trade Forex in Zambia?

Forex brokers offer educational content, and some maintain excellent resources. Many paid-for edujcational courses exist, but beginner Forex traders in Zambia should avoid them, as plenty of necessary content useful to beginner Forex traders is online free of charge. Beginner traders will get more value by reading and researching quality content and take advantage of other free resources, including lessons and webinars provided by Forex brokers in Zambia.

Best Time to Trade Forex in Zambia

Zambia is one hour ahead of London, the global center of Forex markets, like central Europe. While the best time to trade Forex is when the trader decides to, the lowest trading costs exist during the most liquid trading periods.

The London-New-York overlap sessions usually produce the highest liquidity. The start and end of the London trading session and the last two hours of the New York one are equally important. Therefore, the best time to trade Forex in Zambia begins at 9 a.m. local time and lasts until 10 p.m.

Advantages & Risks of Forex Trading in Zambia

Forex traders in Zambia should consider the advantages but also weigh the risks of Forex trading in Zambia, as outlined below.

The advantages of Forex trading in Zambia:

  • Accessibility via mobile phones as internet usage increases annually across Zambia
  • Leverage allows traders with smaller deposits to manage income-generating portfolios
  • Deep liquidity and volatility create more profitable trading opportunities versus other financial markets
  • Traders can go long and short with ease
  • Smaller capital entry requirements
  • Lower trading costs and commissions than other financial instruments
  • Algorithmic, copy, and social trading plus account management services

The risks of Forex trading in Zambia:

  • Leverage is a double-edged sword, as it can magnify losses if traders fail to implement risk management tools
  • Availability is 24/5 rather than 24/7 as in the cryptocurrency market


Over 100 brokers were reviewed in-depth and from a trader's perspective, ignoring the marketing tactics deployed by some to confuse retail traders. Therefore, we sourced our best Forex Brokers in Zambia list from more than 200,000 words of dedicated research compiled over 1,000 hours, ensuring the most comprehensive approach to identify the best Forex brokers in Zambia.

The eleven criteria used in our research consist of:

  • Regulation and Security
  • Trading Costs
  • Asset Selection
  • Account Types
  • Trading Platforms
  • Unique Features
  • Research and Education
  • Customer Support
  • Bonuses and Promotions
  • Account Opening Process
  • Deposits & Withdrawals


Zambia is home to a growing tech-savvy population, is the most urbanized country in sub-Sahara, and as its internet penetration rapidly grows, presents an untapped market for international Forex brokers. Zambians also embrace Forex trading faster than any African country. Forex trading in Zambia offers a low-cost opportunity to generate income and wealth if portfolios are managed with a competitive Forex broker, like the ones in our best Forex brokers in Zambia list.

Beginners must understand that Forex trading requires time to learn and should ignore marketing campaigns by less trustworthy brokers promising outsized returns. Zambia presents opportunities for Forex brokers, Forex traders, and Forex affiliates. Forex trading in Zambia can help its mining and agriculture-focused economy to diversify while boosting income and wealth creation for its young population.


Is Forex trading allowed in Zambia?


Forex trading is 100% legal and allowed in Zambia.

How do I start trading Forex in Zambia?


Beginners must start with education. Opening and funding a trading account will get Zambian residents started with Forex trading.

What is the best Forex broker in Zambia?


It depends on individual preferences. Zambian Forex traders can use our best Forex brokers Zambia list as a shortlist.

What is Forex trading, and how does it work in Zambia?


Forex trading is exchanging one currency for another and back again, and most Forex trading takes place online via brokers, market makers, and liquidity providers.

Which trading app is best in Zambia?


The best trading app in Zambia must support copy trading, as many traders demand this service.

How much do stockbrokers charge in Zambia?


The Lusaka Stock Exchange (LuSE) levies a fixed fee of 1.375%, but stockbrokers may add additional costs per transaction.

How can I buy shares in Zambia?


The Lusaka Stock Exchange (LuSE) lists ten licensed stockbrokers, and Zambian traders should use one of them. International traders can gain exposure via ETFs.

Huzefa Hamid
About Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.