4 Best Forex Brokers in Eritrea
Last Update: June 26th, 2024
The 4 Best Forex Brokers in Eritrea – Rated and Reviewed. We have listed the Best Forex Brokers accepting traders in Eritrea.
In this in-depth guide you will learn:
- The Best Forex Brokers in Eritrea – a List
- The Best Brokers in Eritrea for Beginners and Foreigners
- Leading MetaTrader Forex Brokers
- Trusted Forex Brokers in Africa
and much, MUCH more!
4 Best Forex Brokers in Eritrea – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Eritrean Traders | 💶 Min. Deposit (ERN) |
| 🥇 TMGM | 👉 Click Here | ✅Yes | 1,500 ERN |
| 🥈 Tickmill | 👉 Click Here | ✅Yes | 1,500 ERN |
| 🥉 XM | 👉 Click Here | ✅Yes | 75 ERN |
| 🏅 FXCM | 👉 Click Here | ✅Yes | 750 ERN |
4 Best Forex Brokers in Eritrea (2024)
- ☑️ TMGM – Overall, the Best Forex Broker in Eritrea
- ☑️ Tickmill – Best Overall Offering
- ☑️ XM – Low ERN Minimum Deposit
- ☑️ FXCM – Best Overall Trading Experience
TMGM
TMGM is a leading and innovative Financial Service Provider. Regulations include ASIC, FMA, and, the VFSC. Accounts include Classic, Edge, IRESS Standard, IRESS Premium, and, IRESS Gold. Moreover, An Islamic, Swap-Free Account is provided on the Edge and Classic Accounts. Furthermore, a Demo Account is available. Notable features include:
- Spreads from 0.0 Pips
- Leverage of up to 1:1000
- Access to Over 50 Currency Pairs
- Multilingual Customer support
Trading Instruments include Forex, Metals, Shares, Energies, Crypto CFDs, and, Indices. TMGM supports MetaTrader 4, MetaTrader 5, IRESS, and, HUBx.
| 🔍 Broker | 🥇TMGM |
| 💵 Minimum Deposit | 100 USD |
| 4️⃣ Ease of use Rating | 4/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Quick order execution + little slippage | Restricted Proprietary Platforms |
| MT4 and MT5 | Limited Demo Account |
Our Insights
With a High Minimum Deposit, an Inactivity Fee, and, Possible Commissions, TMGM is better suited to Established Traders.
Tickmill
Tickmill is a trusted and highly regulated Forex and CFD Broker. Regulations include Seychelles FSA, FCA, CySEC, Labuan FSA, and, the FSCA. Accounts include VIP, Classic, and, Pro. Moreover, Demo and Islamic, Swap-Free Accounts are available. The minimum deposit is 100 USD. Notable features include:
- Bonus Offers and Promotions
- Multiple Base Currencies
- Spreads from 0.0 Pips
- Leverage of up to 1:500
Trading Instruments include Forex, Stock indices, Energy indices, Precious metals, Bonds, Cryptocurrencies, stocks, and, ETFs. Tickmill supports MetaTrader 4 and MetaTrader 5. In addition, a Proprietary Mobile App is available.
| 🔎 Broker | 🥇 Tickmill |
| 💴 Minimum Deposit | $100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips on the Pro and VIP Accounts |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | 62, major, minor, and exotic pairs |
| 📊 Scalping | ✅Yes |
| 💹 Hedging | ✅Yes |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill App |
| ⏰ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
The Benefits of trading with Tickmill include Trading with Minimal Commissions. Moreover, Trusted Customer Support is provided.
XM
XM is a well-known and trusted Forex and CFD Broker. Regulations include FSCA, IFSC, ASIC, CySEC, DFSA, and, the FCA. Accounts include Micro, Standard, Ultra-Low, and, Shares. Moreover, Demo and Islamic-Swap Fees are available. Notable features include:
- A Referal Bonus
- Over 55 Currency Pairs
- Multilingual Customer Support
- 24/7 Customer Support
Trading Instruments include Forex, cryptocurrencies, stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Individual shares, and, Turbo Stocks. XM supports MetaTrader 4 and MetaTrader 5. Moreover, a Proprietary Mobile App is available.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
XM suits all levels of Traders. Moreover, Beginners will benefit from a Low ERN Minimum Deposit.
FXCM
FXCM is a respected and well-established Financial Services Provider. Regulations include FCA, ASIC, CySEC, and, the FSCA. A single Live Trading Account is provided. Moreover, a Demo and Islamic, Swap-Free Option is available. The minimum deposit is 50 USD. Notable features include:
- Access to Over 45 Currency Pairs
- Spreads from 0.2 Pips
- Leverage of up to 1:400
Trading Instruments include Forex, shares, indices, commodities, cryptocurrencies, Forex Baskets, and, Stock Baskets. FXCM supports Trading Station, TradingView Pro, MetaTrader 4, Capitalise AI, and, ZuluTrade. Moreover, a Proprietary Mobile App is available.
| 🔍 Broker | 🥇 FXCM |
| 💵 Minimum Deposit | 50 USD |
| 4️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | ✅ Yes |
| 🕰️ Support Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Multitude of educational materials | High Currency conversion fees |
| Multiple Account Types | Narrow asset portfolio |
| 24-hour multilingual customer | Limited Trading Platforms |
Our Insights
The benefits of trading with FXCM include Educational Resources and Trusted Customer Support.
Muslim Forex Trading in Eritrea
Christianity and Islam are the two major religions in Eritrea. Muslim Investors in Eritrea can trade Forex without Restriction. However, it must be done via a Forex Broker that provides an Islamic Swap-Free Account.
In Conclusion
Forex Trading in Eritrea is Less Popular but Legal and available without restrictions. Moreover, several International Forex Brokers accept local investors.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Our Insights
While reviewing the Best Forex Brokers that accept Eritrean Traders, we found 4 excellent options. Each broker has its list of Benefits, ranging from multiple account types to multilingual customer support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Forex Trading in Eritrea is available without restriction.
TMGM provides 24/7 Customer Support.
An Islamic, Swap-Free Account is provided on the Edge and Classic Accounts.
An Inactivity Fee is not charged.
A cost-free Demo Account is available.
The minimum deposit is 50 USD.
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