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(Updated September 2025)
Leverage is one of the most powerful tools available to Forex traders. It enables traders to control large positions with relatively small capital outlay, potentially amplifying both profits and losses. For South African traders, access to high-leverage accounts is widely available through both local African and offshore entities. However, the use of leverage must be approached with caution, especially in a local trading environment shaped by rand volatility, regulatory complexity, and differing levels of broker protection.
This guide explains how leverage works, its regulation in Zambia, and how to identify the safest high-leverage brokers for your specific needs. We also highlight top-rated brokers accepting Zambian clients in 2025, comparing their leverage policies, trading costs, and regulatory standing.
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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.
Forex trading is unregulated in Zambia, and traders should exercise caution and only trade with brokers regulated by top-tier global authorities such as the FCA (UK), ASIC (Australia), and CySEC (Europe). These are some of the world’s strictest Forex trading regulators, ensuring a secure and transparent trading environment.
Choosing a well-regulated broker offers key protections:
Tip: Always check if a broker is regulated by at least one top-tier regulator before opening an account.
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Broker | Visit Broker | EUR/USD - Standard Spread This is the spread on EUR/USD using the account with the smallest deposit requirements. | Trading Cost - Standard Account 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. | International Regulators | Compare | ||||
|---|---|---|---|---|---|---|---|---|---|
 | Unlimited:1 | USD 3 | 0.70 pips | USD 7 | FSCA, FSA-Seychelles, CMA, B.V.I FSC, FSC, JSC | ||||
 | 3000:1 | USD 5 | 0.70 pips | USD 7 | ASIC, FSC | ||||
 | 2000:1 | USD 0 | 1.00 pips | USD 10 | FCA, FSCA, DFSA, FSC, FSA-Seychelles, CMA | ||||
 | 30:1 | USD 0 | 1.00 pips | USD 10 | FCA, ASIC, CySEC, DFSA, BaFin, SCB, CMA | ||||
 | 30:1 | USD 100 | 0.90 pips | USD 9 | ASIC, FSCA, CySEC, FSA-Japan, CBI, FRSA, ISA | ||||
 | 30:1 | USD 200 | 0.10 pips | USD 8 | CySEC, FSA-Seychelles, SCB, CMA | ||||
 | 1000:1 | USD 10 | 1.70 pips | USD 17 | CySEC, FSA-Seychelles, FRSA | ||||
 | 30:1 | USD 5 | 0.60 pips | USD 6 | CySEC, ASIC, DFSA, FSC | ||||
 | 30:1 | USD 0 | 0.70 pips | USD 7 | CySEC, FCA, FSC, KNF | ||||
 | 30:1 | USD 100 | 0.00 pips | USD 6 | CySEC, FCA, FSCA, FSA-Seychelles, DFSA |
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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
Exness offers unlimited leverage to experienced traders who meet volume and tenure thresholds—uncommon among global brokers and particularly beneficial for Zambian micro-accounts.
Leverage adjusts dynamically based on real-time equity and margins—helping experienced traders optimize risk without manual changes.
High leverage even on crypto pairs during weekends—ideal for Zambian traders with inflexible daytime schedules.
The built-in dashboard shows how close you are to a margin call, providing actionable alerts in advance.
Unlimited leverage requires consistent volumes and deposits—can be confusing or restrictive for new Zambian traders.
Clients using unlimited leverage aren't covered under tight EU/UK regulations—less protection if markets spike.
Exness | Best For: Zambian high-leverage enthusiasts and algorithmic traders seeking flexible margin options
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0.7 pips
FSC, ASIC
USD 5
FBS App, MT5, MT4
3000:1
Offers up to 1:3000 leverage in Cent accounts—perfect for very small deposits looking to maximise capital exposure.
A cent account means 1 pip is $0.01—easier to test strategies with high leverage without incurring huge risk.
Allows freezing leverage at a chosen ratio to prevent auto-decrease during drawdown—advanced control for less-experienced traders.
Deals like “$140 to start” and deposit bonuses running in Zambia—rare incentives tailored to local traders.
Leverage that high can wipe accounts fast without discipline—traders need strong risk controls if trading aggressively.
Variable spreads often widen during news events; not as ECN-focused as its competitors.
FBS | Best For: Beginners and Zambian traders seeking ultra-high leverage on micro accounts
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0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
High leverage equivalent to top global brokers, yet under HotForex’s strict execution—compliant and credible for local use.
Risk control option lets users fix leverage during high-volatility—a safeguard many global brokers don’t offer for high gear setups.
Beginners can follow high-leverage strategies from verified Zambian experts—a massive help for skill growth.
Tailored sessions on high-leverage risk management—content often not freely available elsewhere in Zambia.
Leverages cost-effectiveness only on Premium/Zero accounts; beginners using Micro may pay more overall.
High-leverage orders may lag when markets move quickly, with occasional noticeable slippage.
HFM | Best For: Zambian traders seeking regulated high leverage with learning support
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0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
Within Zambian retail investor limits but combined with ECN Razor account, gives institutional-grade trade efficiency.
0.0 pip spreads, $3.50 commission and sub-30ms order speed—rare level of cost/infrastructure for traders on high leverage.
Built-in slippage controls mean high leverage doesn’t lead to runaway losses—a pro-level safety mechanism.
Deep pools from global banks minimize price gaps—essential for high-leverage strategies during news spikes.
Commissions vary based on your chosen trading platform and your base currency
At 1:400, it trails brokers offering 1:1000+; it may limit ultra-aggressive Zambian micro-traders.
Pepperstone | Best For: Zambian pro traders seeking high leverage combined with ECN execution
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
30:1
Meets Zambian regulatory-friendly levels, paired with robust platform diversity including MT4, MT5, and AvaSocial.
High-leverage trades of top performers replicated automatically—less common combo in Zambia.
Predictable costs even when using leverage—ideal for budget-conscious strategy planning.
FX, commodities, indices, crypto—all within leveraged appeals, offering portfolio diversity seldom seen with high leverage.
During economic events, fixed spreads can widen significantly—costlier for high-volume leveraged traders.
Without razor-thin ECN spreads, traders using high leverage pay extra buffer in spread cost.
AvaTrade | Best For: Zambian traders combining high leverage with platform variety and social trading
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How leverage works in Forex trading and what Zambian traders need to know before choosing high-leverage accounts.
Leverage in Forex trading allows a trader to borrow funds from a broker in order to open positions larger than their account balance would otherwise allow. For example, a trader who deposits 10,000 USD and selects 100:1 leverage can open a position worth 1,000,000 USD. Only 1% of the position value is required as margin.
While leverage can dramatically increase profit potential, it also increases exposure to risk. A market movement of just 1% against a highly leveraged position could wipe out the entire margin. Losses are calculated on the full value of the position, not just the margin deposited.
Unlike regulators such as the European Securities and Markets Authority (ESMA), the UK’s Financial Conduct Authority (FCA), or the Australian Securities and Investments Commission (ASIC), the Bank of Zambia (BoZ) does not currently impose a fixed leverage limit for retail Forex traders.
Zambian brokers are not legally required to cap leverage, although some may choose to set internal limits to protect clients. While traders may legally access leverage of up to 1:1000 or more with certain brokers, these brokers are expected to comply with Zambia’s financial regulations, including the Banking and Financial Services Act and the Securities Act, as overseen by the BoZ and the Securities and Exchange Commission (SEC) Zambia.
The BoZ’s supervisory focus includes:
For more information, you can consult the Bank of Zambia’s and SEC Zambia’s official guidelines on Forex and leveraged trading.
Many Zambian traders turn to offshore brokers offering high leverage, sometimes as high as 1:3000. While this is legally permissible, it introduces additional risks.
Offshore brokers regulated by bodies like the Financial Services Authority of Seychelles (FSA), Belize’s IFSC, or St. Vincent and the Grenadines’ FSA are not subject to enforcement. If a dispute arises, clients may find it difficult or impossible to recover funds.
Very high levels of leverage can be risky for inexperienced retail traders. But leverage is also a useful tool for more experienced traders seeking to make a living from Forex trading.
Here are answers to some of the most common questions that brokers have about leverage in Forex trading.
Margin is the deposit or collateral the trader spends from their own account to access leverage from a broker. Margin is usually expressed as a percentage of the total trade size. The higher the leverage offered by your broker, the less margin (or capital) you will need. So, if you have US$10,000 and the margin is 3.33%, you can control US$300,000 worth of forex trades or three standard lots of US$100,000 each. This can also be expressed as using leverage of 1:30. If, however, you are a professional trader and have a margin of 0.2%, you can control US$5 million of forex (50 lots). This can also be expressed as using leverage of 1:500. Clearly, that gives a trader much greater potential in terms of generating profit.
Excessively high levels of leverage will materially damage your odds of success on any particular trade, according to the reputable broker IG Forex, due to the impact of transaction costs. “If you were to place trades randomly, without any particular insight or skill, and aim to take profits of the same size as your maximum stop-loss, you’d tend to win on 50% of trades and lose on 50% of trades”, the broker explains. “Transaction costs change this picture, representing a hurdle between you and a profitable trade. Another way of saying this is that costs shift the odds against you.”
IG says that at most levels of leverage this shift in odds is small. “However, when the leverage you use is so high that the margin supporting your trade is less than 10x to 20x your costs, your probability of losing begins to increase very rapidly. This is because costs eat away at the supporting margin, leading to a high probability of being closed out.
“This is easy to understand if you think about the most extreme case, where your supporting margin is exactly equal to your transaction costs on a trade. You’d place your trade, and the transaction costs would leave you with zero supporting margin for your position. This would lead to you being closed out immediately, with 100% probability, every single time – regardless of your trading strategy or how the market moves.”
Negative balance protection ensures that traders do not lose more than the balance of their account, even if the market moves quickly or “gaps” (i.e. jumps sharply higher or lower through various price points). Brokers in certain regulated markets, such as those regulated by ESMA or the FCA, are required to apply negative balance protection on a per-account basis. However, the rule does not apply to professional traders, who can still lose more than the balance of their account.
Negative balance protection applies if you trade leveraged products such as CFDs. Imagine you open an account with a deposit of US$1,000 and you enter a CFD forex trade with 10:1 leverage. In this case, you will have a position worth US$10,000. If there is market turbulence and your position suddenly drops 25%, you will suffer a US$2,500 loss, or 250% of your deposited money, due to the leverage. This means your US$1,000 balance won’t cover your losses and you would owe the broker US$1500 if they didn’t provide negative balance protection.
Unregulated offshore brokers are not required to offer negative balance protection. When combined with high levels of leverage, this means that traders could end up owing the broker very large sums of money.
The Bank of Zambia(BoZ) does not limit the leverage of retail traders, but that does not mean it is either prudent or a requirement to go higher than 30:1 as soon as you start trading. You should choose the level of leverage that makes you most comfortable. If you are conservative and do not like taking many risks, or if you are still learning how to trade currencies, a lower level of leverage, like 5:1 or 10:1, might be more appropriate. Even seasoned professionals often use relatively low levels of leverage and focus on preserving their capital and earning consistent profits, rather than maxing out the leverage they are allowed on every trade.
When managed properly, leverage allows forex traders to earn money from very small movements in currencies. Currencies only tend to hit the headlines when they are subject to dramatic rises and falls, yet for most of the time currencies move in very small trading bands. These low levels of volatility mean that, on a typical day, traders would have to commit very large levels of capital to earn a reasonable income from trading forex.
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.
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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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