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<p>Chris manages the relationships with our partners to provide our users with the best Forex trading experience possible. Chris has 15+ years of experience in research, editorial and design for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.</p>
The best Forex brokers for beginners share the same qualities. They are regulated to ensure protection from fraud and have a user-friendly trading platform for a stress-free trading experience. In addition, they have a comprehensive trading education and a free demo account so beginners can learn to trade without risking money. They should also have low costs and reliable customer support if technical issues arise.
All the Forex brokers on this list have been chosen because they meet these criteria, so whatever your exact needs as you start trading, you will find a broker that suits you.
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For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.
Skip the trial and error! Below, you’ll find the best forex brokers for Zambian traders for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.
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Broker | Official Site | Unlimited Demo | Support Hours | Trading Cost Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Regulated | Website Language: English | Support Language: English | Compare | ||
|---|---|---|---|---|---|---|---|---|---|---|
 | USD 0 | Yes | 24/5 | USD 10 |       | No | No | |||
 | USD 0 | No | 24/7 | USD 10 |     | No | No | |||
 | USD 3 | No | 24/7 | USD 7 |   | No | No | |||
 | USD 0 | Yes | 24/5 | USD 6 |     | No | No | |||
 | USD 100 | No | 24/5 | USD 9 |    | No | No | |||
 | USD 5 | No | 24/5 | USD 6 |  | No | No | |||
 | USD 5 | Yes | 24/7 | USD 7 | | No | No | |||
 | USD 200 | No | 24/7 | USD 8 | | No | No | |||
 | USD 100 | Yes | 24/7 | USD 14 | | No | No | |||
 | USD 10 | Yes | 24/5 | USD 17 | | No | No |
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Find Your Ideal Forex Broker
0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
HFM is one of the few top-tier brokers that allows you to start trading with as little as $0, perfect for new traders cautious about risk.
Offers regional support for African traders, including localized deposit methods and educational webinars tailored for beginners in Zambia.
Robust educational suite including free video tutorials, eBooks, and daily market analysis aimed at new traders.
Micro, Premium, and Zero Spread accounts cater to different learning stages, with Micro accounts well-suited for practice with minimal risk.
Only offers MT4/MT5; lacks a simplified, beginner-friendly mobile platform designed in-house.
May not satisfy traders who quickly progress and seek advanced algo or institutional-grade tools.
HFM | Best For: Zambian beginners seeking ultra-low deposit requirements and comprehensive learning resources
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0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
Regulated by FCA, ASIC, and CySEC – offering strong fund protection and peace of mind for new traders.
Pepperstone offers sub-30ms latency, ideal for traders learning how price moves affect performance in real-time.
Gives beginners access to raw spreads without dealing desk interference, simulating professional conditions from the start.
Includes structured trading courses and beginner bootcamps that help newcomers progress systematically.
Doesn’t offer nano or micro lots on a dedicated beginner account, which might be a drawback for cautious traders.
Commissions change depending on your trading platform and your base currency.
Pepperstone | Best For: Beginners who want ECN-style execution with top-tier regulation
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0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
One of the lowest deposit thresholds in the industry, allowing new Zambian traders to test real markets on a shoestring budget.
Gives beginners access to various leverage levels, including unlimited leverage for small accounts, useful for learning margin concepts.
Allows funding via Bitcoin and Tether, catering to the growing crypto-literate population in Zambia.
Withdrawals processed within minutes 24/7—great for new traders who want liquidity without waiting.
Not a true ECN or STP broker; some conflict of interest may exist on trades, which might be educationally misleading.
Limited local support availability and mixed reviews about response times from African countries.
Exness | Best For: Beginners in Zambia who want ultra-low deposits and crypto-friendly funding
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0.6 pips
BMA, CFTC, FINMA, FMA, BaFin, MAS, DFSA, FSA-Japan, FSCA, ASIC, FCA
USD 0
L2 Dealer, ProRealTime, MT4
30:1
Founded in 1974 and listed on the London Stock Exchange, IG is one of the most established brokers globally – perfect for risk-averse beginners.
No upfront deposit is required to open an account, letting beginners explore the platform risk-free before committing.
Includes Smart Portfolio, trade analytics, and demo trading tools built specifically for learners.
Offers some of the best trading courses and webinars designed for beginners, especially around risk management and strategy planning.
IG does not support MT5, limiting flexibility for those who want to grow beyond basic trading platforms.
Spreads can be higher for smaller or less active accounts, not ideal for micro trading.
IG | Best For: Beginners who prioritize trust, safety, and global reputation
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
30:1
Allows beginners copy professional traders in real time, ideal for learning strategies while minimising risk.
AvaTradeGO is explicitly built for mobile-first traders with simplified navigation and risk alerts tailored for new users.
Offers free tools like Guardian Angel that analyse your trades and provide real-time tips to improve.
Supports MT4, MT5, AvaTradeGO, and even DupliTrade – offering progressive steps as traders grow in skill.
Not the lowest threshold—may be a barrier for Zambians just testing the waters.
Lacks advanced ECN platforms like cTrader, which limits platform choice for advanced transitions.
AvaTrade | Best For: Beginners who want guided trading tools and mobile-first access
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Forex trading involves buying and selling currencies on the foreign exchange market to profit from fluctuations in exchange rates.
The Forex market is the biggest financial market in the world, with over 6.6 trillion USD traded daily. It operates 24 hours a day, 5 days a week—from Sunday night, when the Australian market opens, until Friday evening, when the US market closes.
Getting started in Forex trading can be challenging, but with the right approach, you can navigate the market effectively. This section will outline the basic steps to help you begin, from demo trading to risk management. Whether you plan to trade occasionally or pursue it more seriously, this guide provides the essential knowledge to help you make informed decisions and start trading in the Forex market.
Online Forex trading can only be done via a Forex broker. Because most of the currency traded globally comes from large institutions like banks that don’t deal with retail clients, Forex brokers facilitate the trades between these institutions and retail traders. Forex brokers buy up large currency positions and make them available to retail traders who can open accounts with just a few hundred dollars or less. Brokers also provide the software – called a trading platform – which connects the trader to the virtual network of computers that forms the Forex market.
Demo accounts are a crucial tool for any beginner in the forex market. These accounts allow new traders to practice trading with virtual money, providing a risk-free environment to understand how trading works. They offer real-time market data, enabling traders to familiarise themselves with different trading platforms, implement different strategies, and understand trading operations like placing orders and setting stop losses. Beginner traders should always start with a demo account before transitioning to a live trading account.
Risk management is a key component of successful forex trading. It involves recognising potential risks and taking steps to mitigate them. This includes setting stop-loss orders to limit potential losses, using leverage wisely to avoid significant losses, and never investing more money than you can afford to lose. Diversification, trading only a small portion of your capital, and not getting emotionally attached to trades are vital risk management strategies. Remember, the goal is not to win every trade but to manage your risk so you can stay in the game for the long term.
Understanding and following market trends is essential in forex trading. Trends give traders an idea of the direction in which the market is moving. Traders can use various technical analysis tools to identify trends, such as moving averages and trend lines. Following market trends and combining this strategy with other trading techniques can increase the likelihood of making successful trades. Additionally, staying updated with global news and economic indicators can provide insights into potential market trends. It’s important to note that trends can change quickly, so traders should be adaptable and ready to respond accordingly.
Forex trading requires constant learning to stay abreast of changing market conditions. This can be achieved by attending webinars and seminars, enrolling in online courses, listening to podcasts, and staying updated with financial news. Traders should also learn technical analysis, charting, and the use of trading indicators. Practising different strategies and learning from their success or failure is also essential.
When choosing a Forex broker, there are a couple of things you need to look out for and taking into account.
Ensure the broker you choose is regulated by a reputable financial authority, like the Financial Sector Conduct Authority (FSCA) in South Africa. Regulation provides a level of security and ensures that the broker adheres to a set of standards, providing trader protection against fraudulent activities
As a beginner, it’s essential to choose a broker that offers a user-friendly trading platform. The platform should be easy to navigate, with a clear layout and intuitive design. It should provide easy access to buy and sell orders, charting tools, market news, and other features necessary for trading. Moreover, the platform should offer seamless execution of trades and real-time price updates. The functionality and usability of the trading platform will have a significant impact on your trading experience.
A forex broker that offers comprehensive educational resources can be highly beneficial for beginners. Look for brokers that provide a range of learning materials, such as e-books, webinars, tutorial videos, FAQs, and glossaries. These resources can help you understand forex trading concepts, strategies, market analysis, risk management, and more. Some brokers also offer dedicated learning centres or academies, which can be incredibly valuable for enhancing your trading knowledge and skills.
Demo accounts are an invaluable tool for beginners. They allow you to practice trading strategies, understand how the forex market operates, and get familiar with the trading platform without risking any real money. Ensure that the broker you choose provides an easily accessible and fully functional demo account. Ideally, the demo account should closely mimic the conditions of a real trading account, offering a realistic trading experience.
As a beginner, it’s advisable to start with a broker that has a low minimum deposit requirement. This allows you to start live trading without making a significant financial commitment. Remember, as a new trader, the primary goal should be to learn and gain experience, not to make big profits. Once you gain confidence and experience, you can consider investing more money. Always remember that forex trading involves risks, and it’s possible to lose the money you invest.
For beginners, effective customer support can be crucial. Problems can arise anytime, and having a responsive local Zambian support team can make a significant difference. You want a broker that offers 24/7 customer support through various channels (e.g., live chat, email, and a local telephone number). Additionally, the support team should be knowledgeable and capable of resolving issues quickly and effectively.
Every time you trade, you will have to pay for either the spread or a commission, so it’s crucial to look for the most affordable and reliable brokers. When we evaluate brokers, one of the most important considerations is the trading costs, which can affect your profitability.
Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free. Ensure the broker’s withdrawal and deposit methods are convenient and straightforward. Check for any fees associated with these transactions, as they can vary between brokers. Having accounts denominated in ZMW is also a bonus for Zambian traders who will be able to avoid paying currency conversion fees on deposits and withdrawals.
The FAQ section offers tips for choosing the best Forex brokers for beginners, including advice on selecting a broker and the costs involved in trading.
Some brokers have a minimum deposits of just UGX 20 000, but we recommend starting with at least UGX 700 000 to avoid your account being wiped out if the market turns against you. Most international brokers require a minimum deposit in USD, which can vary from as low as 5 USD to as high as 2000 USD, depending on the broker and the account type you are opening.
Forex trading is a risky endeavour that can cause substantial losses if not managed properly. Some of the risks associated with Forex trading are market volatility, which can cause losses due to sudden currency fluctuations, and high leverage, which can intensify both gains and losses. The decentralization of the forex market also contributes to the risk, as it can lead to potentially fraudulent activities. Additionally, external factors like political instability, economic events, and natural disasters can dramatically affect currency values, adding to the inherent risks.
Yes, it is possible to make a living through forex trading, but it’s important to note that this is not easy and is not the norm. Successful forex trading requires a high level of knowledge and skill, as well as a comprehensive understanding of financial markets, macroeconomic indicators, and risk management. Forex traders must be prepared to spend a significant amount of time studying the markets, following international news, and developing and testing trading strategies. Consistent profitability requires time, patience, discipline, and continual learning.
Improving your forex trading skills involves a combination of education, practice, strategy development, and emotional control:
Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.
Discover the top Forex brokers in Zambia. Compare top platforms, fees and features to make an informed trading choice.
Compare the best Forex trading platforms for 2025, including MT4, MT5, cTrader, and TradingView. Find the right tools to enhance your trading experience.
What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.
60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
Partner Manager and Financial Writer
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.
With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.
He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.
Head of Content
Alison joined the team as a writer in 2021. She is the Head of Content for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in Forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 120 Forex brokers.
Financial Writer
Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.
Financial Writer
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