7 Best Meta Trader 4 (MT4) Forex Brokers in Botswana for 2024

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Forex brokers are fintech firms or dealers that facilitate their clients’ access to trading in forex and CFDs on global forex markets. These brokers provide market access using different trading platforms, including MT4, MT5, and Ctraders. Some brokers even have their own trading platforms.

Metatrader4 (MT4) is one of the most popular trading platforms in the forex market. Millions of traders use this platform. MT4 is renowned for its user-friendly interface, advanced charting tools, and customizable features. Most forex brokers use MT4 as their trading platform. There are thousands of forex brokers in Botswana that offer MT4 trading platforms.  However, not all brokers are equally trusted, regulated, or offer similar quality services. With so many options to choose from, it can be difficult to determine which broker is the best fit for your needs.

In this article, We have curated and listed the top MT4 Forex brokers in Botswana that offer competitive trading conditions, a wide range of trading instruments, and excellent customer support. We have also reviewed their regulations, trading fees, pros, cons, and so on. By comparing these brokers, you can better decide which brokers are best suited to your trading style and goals in Botswana. 

A list of Top 7 MT4 Forex Brokers in Botswana

  1. Pepperstone: Best Overall MT4 Forex Broker 
  2. IC Markets: Best for Low Spread Trading
  3. XM: Best for Deposit Bonus 
  4. Eightcap: Best for Smart Trading
  5. BlackBull Markets: Fastest Execution MT4 broker 
  6. FBS: Best for High Leverage
  7. AvaTrade: Best for social trading platforms

Pepperstone: Best Overall MT4 Broker

Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is a forex, CFD, and spread betting broker that offers online trading services to traders globally. The broker is regulated by 7 top-tier regulatory authorities, including FCA, ASIC, CySEC, BaFIN, SCB (Bahamas), CMA, and DFSA (Dubai). The broker accepts clients from Botswana under its SCB regulations.

Pepperstone offers 3 of the most popular trading platforms: MT4, MT5, and cTrader. The broker also supports third-party charting or trading tools such as Tradingview, Duplitrade, MirrorTrader, Myfxbook, Smart Trader Tools, cTrader Automate, Autochartist, and Algorithmic trading.

Pepperstone accepts almost all trading styles, including scalping, EA trading, news trading, hedging, copy trading, and more. Pepperstone also supports passive investment programs like PAMM and MAM. The broker also offers API trading and VPS hosting.

Pepperstone MT4 in Botswana

Key Features:

  • Trading Instruments: 1250+Trading instruments including Forex, Commodities, Cryptocurrencies, Shares/Stocks CFDs, etc 
  • Maximum leverage: 1:400 for retail traders in CMA Jurisdiction, 1:500 for professional traders 
  •  Minimum Deposit: $200 or Equivalent
  • Account Types: Two ( Standard account, Razor Account) 
  • Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip. 
  • PAMM/ MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed


  • Pepperstone is regulated in 7 reputed jurisdictions, including FCA in the UK, CySEC in Cyprus, ASIC in Australia, BaFin in Germany, DFSA in Dubai, CMA, and SCB in the Bahamas.
  • Fast order execution is ensured, with an average of 30 milliseconds.
  • Competitive spreads starting from 0.0 pips are offered.
  • Clients’ funds are segregated with tier 1 banks for added security.
  • There are no inactivity fees associated with the platform.
  • Attractive trading conditions are provided.
  • Pepperstone offers over 1200 trading instruments for diverse investment opportunities.
  • The platform facilitates fast and complete online account opening.
  • MT4 Smart Trader Tools, Autochartist, Capitalise.ai, and free VPS are among the trading tools available for users.


  • US Traders are not allowed 
  • Only CFDs are Offered 
  • No cent/Micro Account 
  • Minimum recommended deposit is $ 200
  • Support works only 24/5  
  • Limited account protection for non-U.K./E.U. clients
  • No guaranteed Stop-loss 
  • 30-day expiry for demo accounts

Pepperstone onboards the clients of Botswana under its SCB entity. Learn more about Pepperstone in Botswana

IC Markets: Best for Low Spread Trading

Founded by Andrew Budzinksi in 2007, IC Markets is a Forex and CFD brokerage firm offering online trading services for retail and institutional clients. Although the company is based in Australia, it provides online trading services globally, including in Botswana. IC Markets is regulated by top-tier regulatory authorities such as ASIC, CySEC, and FSA. The firm onboards clients from Botswana under its FSA jurisdiction.

IC Markets offers the most popular trading platforms such as MT4, MT5, and cTrader, which are accessible on desktops, web browsers, and mobile devices. The brokerage provides access to over 2150 trading instruments, including 61 forex pairs, 25 Indices CFDs, 20 commodity CFDs, 2100+ stock CFDs, 21 cryptocurrency CFDs, and 4 Future CFDs

Features of IC Markets MT4 in Botswana

Key Features:

  • Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
  • Maximum leverage: 1000:1 for the clients of FSA jurisdiction.   
  •  Minimum Deposit: $200 or Equivalent
  • Account types: Standard Account and Raw Account (Metater, Ctrader) 
  • Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed 


  • A fully regulated broker operates in two tier-1 jurisdictions and one tier-4 jurisdiction.
  • It offers super-fast trade execution speed.
  • The broker provides low spreads starting from 0 pips.
  • Account opening is easy and fast.
  • Deposits and withdrawals are free.
  • The broker offers standard and raw spread account options.
  • Trading EA is allowed.
  • Traders have the ability to trade from a mobile device.
  • A demo account is available.


  • The broker requires a higher minimum deposit of $200.
  • Non-EU clients do not have investor protection.
  • The product selection is limited.
  • Weekend trading is not available.
  • US traders are not accepted.
  • The broker is not regulated by the FCA.

IC Markets onboards the clients of Botswana under its FSA entity (IC Markets Global). Learn more about IC Markets in Botswana

XM: Best for Deposit Bonus

Founded in 2009, XM is a forex and CFD broker that offers global online trading services. The broker operates through 5 entities worldwide and is regulated by top authorities such as ASIC, CySEC, FSC, DFSA, and FSCA. XM provides personal account managers for its clients and also offers an in-depth video tutorial, daily news analysis, and a trading signal program for newbie traders. Additionally, XM organizes webinars to educate its clients about trading.

XM offers over 1000 trading instruments, including Forex, Crypto CFDs, Indices CFDs, Commodity CFDs, Stock CFDs, Turbo Stock CFDs, Metal CFDs, Themetics CFDs, and Energies CFDs. The broker provides access to more than 10 trading platforms, including MT4, MT5, and XM apps. XM offers a 20% deposit bonus up to $5000 on its global entity (FSC)

Key Features:

  • Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
  • Maximum leverage: 1000:1 for FSC jurisdiction   
  •  Minimum Deposit: $5 or Equivalent
  • Account Types: Micro, Standard, Ultra Low, Shares Accounts 
  • Fees: Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed 


  • CySEC, ASIC, DFSA in UAE, and FSC Belize regulate XM.
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • No FCA regulations 
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)


  • An inactivity Fee is applied. 
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable.

XM onboards the clients of Botswana under its FSC entity (XM Global Limited). Learn more about XM in Botswana.  

Eightcap: Best for Smart Trading

Founded in 2009, Eightcap is an Australia-based forex and CFD broker that offers a wide range of trading instruments including forex, CFDs, Cryptos, share CFDs, Commodity CFDs, and so on. The broker offers a variety of trading platforms such as MT4, MT5, TradingView, and Webtraders. Eightcap allows scalping, EA Trading, and copy trading, and also offers passive investment programs like PAMM and MAMM.

Eightcap is a regulated broker, being regulated by ASIC, CySEC, FCA, and SCB. The broker provides a couple of useful trading tools and services for traders, including AI-powered Economic Calendar Capitalise.ai, FlashTrader, and ForexVPS. Eightcap is reputed for offering prop trading solutions to many brokers.

Key Features:

  • Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
  • Maximum leverage: 500 :1 for the clients of SCB Jurisdiction.    
  •  Minimum Deposit: $100 or Equivalent
  • Account Types: Three Types of Accounts including Raw Account, Standard Account, Trading View Account 
  • Fees: about $3.5 per lot on each side for the raw account, 1 pip spread for the standard account, 1 pip spread for the Tradingview account 
  • PAMM/ MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed 


  • Top Tier regulated Broker
  • Free deposit and withdrawal
  • The maximum leverage is as high as 500:1
  • Fully Digital Account Opening
  • MT4 and MT5 trading Platforms are offered
  • TradingView is integrated
  • Stable Liquidity


  • Does not accept US Clients
  • The minimum deposit is $100, which might be a bit more for beginners
  • Limited research and educational tools
  • No investor protection scheme in its Global Entity (in fact, no brokers have)

Eightcap onboards the clients of Botswana under its SCB entity (Eightcap Global Limited). Learn More about Eightcap in Botswana. 

Blackbull Markets: Fastest Execution Forex Broker

Founded in 2024, BlackBull Markets is a New Zealand-regulated forex and CFD broker. The broker is regulated by FMA, FSPR, and FSA-S. Offering over 26,000 trading instruments including Forex, CFDs, Equities, and Commodities (energies, agriculture, metals, futures, indices), there is no minimum deposit requirement. Deposits can be as low as $1. The broker’s spreads start from as low as 0.0 pips. BlackBull Markets is renowned for its fast execution speed, with orders executed in less than 100 milliseconds. 

BlackBull Markets provides a variety of trading platforms, including MT4, MT5, Ctrader, TradingView, and the BlackBull Copy Trader platform. It offers TradingView premium platforms for free. Additionally, the broker offers free VPS services, ZuluTrade, and Myfxbook access. BlackBull Markets accepts clients worldwide, excluding the US, US Territories, and OFAC Sanctions. 

BlackBull Markets MT4 Features

Key Features:

  • Trading Instruments: 26000+ trading instruments in 80 markets  including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, 
  • Maximum leverage: up to 1:500 
  • Minimum Deposit: $0 for standard, $2000 for Prime, $20,000 for Institutional account
  • Account Types: Offers 3 account types including ECN standard, ECN Prime, and ECN institutional. 
  • Fees: starting from 0.8 pips for a standard account, (0.1 pips + $6) per lot for an ECN Prime Account, and (0.0 Pips +$4) for an Institutional account.
  • PAMM/ MAM:  Yes, 
  • Zulutrade: Yes 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed 


  • Regulated by  FMA, FSPR, FSP, FSA-S
  • Founded in New Zealand and operating globally
  • Professional and Retail Trading options 
  • No Minimum Deposit Requirement ($0) 
  • The Maximum Leverage is as  high as 1:500
  • Allow Scalping, News Trading, EA/Robot Trading 
  • Offers Multiple Trading platforms including MT4, MT5, WebTrader, TradingView
  • Supports multiple third-party copy trading platforms, such as ZuluTrade, Duplitrade, and Myfxbook.


  • BlackBull lacks additional Tier-1 regulatory licenses outside of New Zealand.
  • $2,000 minimum deposit for Prime Account
  • The Ctrader platform is not offered 
  • Withdrawal fees 
  • Limited Research Tools 
  • Not very diverse range of tradable assets

Eightcap onboards the clients of Botswana under its FSA in Seychelles entity (BBG Limited). Learn more about BlackBull Markets in Botswana here.

FBS: Best for High Leverage

Founded in 2009 in Belize, FBS is a Forex and CFD broker that offers online trading services globally. The broker is regulated by ASIC, CySEC, and the FSC. FBS provides over 200 trading instruments, including Forex, CFDs, metals, energies, and shares. It supports almost all trading styles, such as scalping, news trading, EA trading, and hedging. FBS is a low-spread and high-leverage Forex broker, with maximum leverage as high as 1:3000, one of the highest in the industry.

FBS offers a wide range of trading platforms, including MT4, MT5, and FBS Trader. The broker provides all versions of the MT4 trading platform. FBS is also reputed for fast order execution, with orders executed in as little as 0.01 seconds. As one of the leading Forex brokers in the world, FBS offers excellent trading conditions and services to its clients.

Key Features:

  • Trading Instruments: Forex, Stock, Indices, Crypto, Metals, Energies, Forex Exotic.
  • Maximum leverage: 1:3000
  • Minimum Deposit: $5
  • Account Types: Three ( Standard, Cent, Pro) 
  • Trading Fees: Spread starting from 1 pip for Standard Account and Cent Account
  • PAMM/ MAM: Not available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed


  • Regulated by the CySEC, ASIC, FSCA South Africa, and FSC Belize.
  • The Maximum Leverage is as high as 1:3000
  • The Minimum deposit is $5 
  • Trading is on the MT4, MT5, and FBS trader platforms.
  • There is an account type to suit newbies, experienced, and pro traders.
  • Low spreads, high leverage, and fast order executions
  • Easy and fast account opening
  • Forex Guidebook, Forex Intensive, trading ideas, webinars, and other training resources are provided.


  • Tradable assets are not much, especially when compared to other top brokers.
  • Daily Market news and analysis are not regularly updated.
  • No premium trading tools to assist traders.
  • No investor protection for non-EU Clients 
  • Managed Accounts & Social Trading is unavailable 
  • Few Account Base Currencies

FBS onboards the clients of Botswana under the FSC in Belize  (FBS Markets Inc). Learn more about FBS in Botswana here.

AvaTrade: Best for social trading platform

Established in 2006 by Emanuel Kronitz, Negev Nosatzki, and Clal Finance Ltd., AvaTrade is a forex and CFD broker located in Dublin, Ireland. The broker offers trading in numerous markets, including currencies, commodities, stock indices, stocks, exchange-traded funds, options, cryptocurrencies, and bonds through its trading platforms and mobile application. AvaTrade is regulated by nine regulatory bodies across six continents. These regulatory bodies include ASIC, FSA in Japan, CBI in Ireland, FSCA, ADGM, ISA, KNF, and FSA in B.V.I.

AvaTrade offers various trading platforms including MT4, MT5, AvaOption, MAC trading, and Avasocial. MT4 is the most popular and widely used trading platform for forex trading. Traders can use MT4 with all its versions on AvaTrade, including desktop version, mobile, web version, and MT4 trading apps. AvaTrade also offers trading resources and education for newbie traders.

AvaTrade allows almost all trading styles, including scalping, EA trading, and news trading. The broker also offers social copy trading facilities like Avasocial, where traders and investors can copy trades from successful traders. The broker accepts clients worldwide except those from the USA, its territories, and OFAC-restricted countries

Key Features:

  • Trading Instruments: 1,250+ popular trading instruments including Forex, Stocks, Commodities, Indices, ETFs, and Options.
  • Maximum leverage: 1: 30 for EU, UK, and Australian clients, 1:400 for global clients
  • Minimum Deposit: $100
  • Account Types: Two ( Retail account, Professional Account) 
  • Trading Fees: Starting from 0.9 pips on forex 
  • MAM:  Available 
  • PAMM: No 
  • Scalping: Allowed 
  • News Trading: Allowed. However, spreads widen during major news 
  • EA/ Robot Trading: Allowed


  • Free deposit and withdrawal options
  • Great research tools
  • A wide range of trading instruments
  • Ability to trade from mobile devices
  • Unique social trading features
  • Impressive educational offerings
  • Negative balance protection
  • Does not charge any fees for deposits or Withdrawals
  • Offers commission-free trading
  • Offers negative balance protection
  • Supports multiple trading platforms and EAs


  • High inactivity fees
  • Not regulated by the FCA
  • Does not accept U.S. clients
  • No guaranteed stop-loss
  • Do not have 24/7 customer support

How to Choose the Best MT4 Forex Brokers in Botswana

Here is the guide to choosing the MT4 forex brokers in Botswana. 

Regulations and Safety:

Regulatory compliance is important when choosing a forex broker. Brokers regulated by top-tier regulatory authorities are more serious and professional about their business than those who are not regulated. Additionally, regulatory bodies always monitor brokers under their supervision. Therefore, if you find any irregularities, you may report them to regulatory bodies for protection. Furthermore, regulatory authorities also ensure the safety and protection of your funds. For example, if a trader is under an FCA entity, and the FCA-regulated broker goes bankrupt, the client or traders may receive up to £85,000 per person or 90% of the invested capital.

There are many regulatory authorities worldwide, but not all are equally strict and powerful. Below is a list of regulatory bodies categorized into tiers based on their usefulness and strictness:

  • Tier 1 Regulatory Authorities: FCA, ASIC, CySEC, CFTC, FMA, BaFIN,
  • Tier Two Regulatory Authorities: CMA, DFSA, FSCA, ISA, SEBI, etc.,
  • Tier Three Regulatory Authorities: BMA Bermuda, ASFI Bolivia, FSC, BCU Uruguay,
  • Tier Four Regulatory Authorities: FSC Belize, FSC British Virgin Islands, SCB Bahamas, FSC Mauritius, (FSA) – Seychelles.

We always recommend trading with tier-one regulated forex brokers. The more tier 1 licenses the brokers have, the better. If you choose to trade with brokers regulated by other tiers, We recommend looking for brokers with additional licenses, especially if they have regulations from tier-one jurisdictions. 

N:BAlthough clients in Botswana do not fall under the jurisdiction of top regulatory authorities like the FCA, ASIC, CySEC, and NFA, the presence of these regulations ensures that the broker has a solid foundation. This demonstrates that the broker is serious about their business and committed to long-term services, as such regulations require millions of dollars in insurance coverage 

Trading fees and Costs:

Understanding the trading costs associated with a forex broker is essential for effective trading. One of the key components of trading costs is the spread, which is the difference between the bid and ask price. Lower spreads indicate better trading conditions as they reduce the cost of entering and exiting trades. 

Additionally, it’s important to consider any additional fees that the broker may charge, such as inactivity fees, rollover fees (swap rates charged for holding positions overnight), and fees associated with depositing and withdrawing funds. These fees can significantly impact your overall trading costs and should be carefully evaluated before choosing a broker.

Trading Conditions:

Trading conditions significantly impact your trading experience and profitability. You should look for brokers that offer competitive spreads and reasonable commission structures to minimize your trading costs. Execution speed is also important; choose brokers known for fast and reliable execution with minimal slippage, ensuring that your trades are executed at the prices you expect. Consider the leverage options available and select a broker that offers leverage levels suitable for your risk tolerance and trading strategy.

Account Types:

Different traders have different needs, so choosing a broker that offers account types that suit your trading styles is essential. You should look for brokers providing options such as Standard, ECN, or Micro accounts to match your trading style and capital. You check carefully check the features of every account type. These features include stop-out level, margin call, min lot size, max lot size, and so on. The availability of different account types allows you to find the best fit for your trading goals and financial situation.

Deposit and Withdrawal:

Convenient and efficient deposit and withdrawal options are essential for smooth trading operations. You should check if your preferred brokers have a variety of deposit and withdrawal methods including bank transfers, credit cards, and e-wallets. You should carefully consider the processing times for these transactions and be aware of any associated fees. A broker that offers fast and low-cost deposit and withdrawal options enhances your trading flexibility and financial management. 

Customer Support:

Excellent customer service is a hallmark of a good broker. You should choose a broker that offers traders friendly customer support available 24/7 through multiple channels such as live chat, phone, and email. Good customer service ensures that any issues or queries you have are addressed promptly. If you prefer a language other than English, check if the broker provides support in your preferred language to facilitate better communication and understanding.

Reviews and Feedback:

User reviews and feedback are valuable sources of information about a broker’s performance and reliability. You should read reviews from other traders to get an idea of their experiences with the broker. Pay attention to both positive and negative reviews to get a balanced view. Carefully check the nature of the reviews, as many companies nowadays buy reviews unethically. Additionally, consider brokers that have received industry awards, as these accolades can indicate their quality of service and reliability

What is the number 1 MT4 forex broker in Botswana?

Based on our evaluation and broker ratings, Pepperstone is the number one Forex broker in the world, including Botswana. The broker is regulated by top regulatory authorities such as the FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB. Pepperstone offers spreads as low as 0.0 pips with deep liquidity and no requotes. It provides a variety of trading instruments and tools, including MT4, MT5, cTrader, TradingView, DupliTrade, Autochartist, and more. Over 400,000 traders use the broker globally

Which MT4 Forex Brokers Are Good for Beginners in Botswana?

 From our research, analysis, testing, and experience; XM, FBS, BlackBull Markets, and Exness are the best brokers for beginners in Botswana. They all provide comprehensive training resources for newbies and also demo accounts for practice. When the newbies are ready for live trading, some of these brokers offer micro accounts which they can use to start experimenting with live trades at very little risk.

  • XM: Known for its low minimum deposit, low spreads, and comprehensive educational resources.
  • FBS: Offers a cent account, low minimum deposits starting from $1, and demo accounts for practice.
  • BlackBull Markets: Provides low spreads, a user-friendly platform, and demo accounts for beginners.

These brokers are ideal for beginners due to their low entry barriers, affordable trading costs, and the availability of demo accounts to practice trading without financial risk

Which MT4 Forex Brokers Offer Copy Trading Platforms in Botswana?

Pepperstone, IC Markets, and AvaTrade are good options for copy trading in Botswana. For example, Pepperstone facilitates copy trading with third-party platforms like Signal Start, MetaTrader Signals, and DupliTrade. These platforms work flawlessly with Pepperstone.

 IC Markets offers the ICSocial copy trading platform. IC Social is a social trading app that allows traders to replicate or copy the strategies of signal providers and also to become a signal provider by using their IC Markets Global MetaTrader 4 account. 

AvaTrade also offers the AvaSocial app for copy trading, allowing users to connect, copy, and conquer the markets alongside expert traders

Which MT4 Forex Brokers Offer High Leverage in Botswana?

Many MT4 brokers offer high leverage in Botswana. However, based on our research and evaluation FBS, XM, and IC Markets are some of the highest-leverage MT4 forex brokers that offer their services in Botswana. The leverages of these brokers include 

  • FBS: 1:3000
  • XM: 1:1000
  • IC Markets: 1:1000

Which MT4 Forex Broker Has the Lowest Spread in Botswana?

Pepperstone, IC Markets, and XM are among the lowest-spread MT4 brokers in Botswana, offering good trading services. Pepperstone provides spreads starting from 0.0 pips for Razor accounts and 1 pip for Standard accounts. IC Markets offers spreads starting from 0.0 pips for Raw accounts and 0.8 for Standard accounts. XM provides spreads starting from 0.0 pips for Ultra Low accounts.

Frequently Asked Questions (FAQs)

What is an MT4 Forex Broker?

The broker that offers or supports the MT4 (Metatrader4) trading platform is called an MT4 forex broker.  Metatrader4 or MT4 is one of the most popular trading platforms used by about 40 million active traders. The platform is renowned for its versatility and user-friendly interface. Launched in 2005, it quickly became popular among traders and brokers in various financial markets, especially Forex.

MT4 offers advanced charting tools, support for automated trading through Expert Advisors (EAs), customizable indicators and scripts with MetaQuotes Language 4 (MQL4), multiple timeframes, and asset classes beyond Forex. It also offers a secure trading environment with encrypted communication and risk management features. MT4’s combination of robust features and widespread adoption makes it a preferred choice for traders of all levels.

Is MT4 Forex Broker available in Botswana?

Yes, MT4 forex brokers are available in Botswana. Many international brokers that support the MT4 trading platform accept clients from Botswana. These brokers offer MT4 trading platforms for web, desktop, and mobile trading. They often provide services such as customer support in local languages, convenient deposit and withdrawal methods, and educational resources specific to Botswana traders

Yes, trading with MetaTrader 4 (MT4) is legal in Botswana. It is a widely used trading platform developed by MetaQuotes Software Corporation and is offered by forex and CFD brokers worldwide, including those operating in Botswana. The trading platform is completely safe and legitimate.

Is MT4 Good for Beginners in Botswana?

Yes, MT4 is a good choice for beginners in Botswana. It offers a user-friendly interface, educational resources, demo accounts for practice, customizable charts and tools, and support for automated trading with Expert Advisors (EAs). These features make MT4 an excellent platform for new traders to learn and start trading effectively. Additionally, the availability of demo accounts allows beginners to practice without risking real money.

Can I use Metatrader4 for Free in Botswana?

Yes, MetaTrader 4 (MT4) is entirely free to use in Botswana. You can access a demo account without needing a broker. However, to start live trading, you may need to open a brokerage account. Brokers provide MT4 trading platforms at no additional cost other than their default commission or spreads.

Final Verdict:

There are numerous forex brokers available in Botswana. These forex brokers offer various trading platforms and tools including MT4, MT5, Ctrader, TradingView, Tradelocker, Pro4, Zulutrade, and more. Among these platforms, MT4 is the most popular trading platform in the forex market. The platform is used by more than 40 million active traders. 

When choosing a Metatrader 4  forex broker, traders should consider factors such as regulations, reputation, trading fees, platforms and tools, and trading conditions. While all MT4  trading platforms may appear similar, they can differ significantly in terms of service quality.

MT4 Forex brokers typically provide both demo and live accounts. If you are a beginner, it is advisable to start trading with a demo account first before moving into live trading. 

Our Methodology

We developed a methodology with over 170 data points grouped into 6 macro areas for assessing the performance of forex brokers. They are as follows:

  • Regulation and Security
  • Fees and Commissions
  • Trading
  • Trading tools
  • Customer Support
  • Trading Education

Our team collated information from various sources and verified them before assessment and rating. We tested the services offered by the brokers using various devices, software, and strategies. Final fact-checking, evaluation, and editing were done and the best brokers were selected. To find out more, read our methodology.

Risk Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.