Best Forex Brokers in Burundi in 2021

Best Forex Brokers in Burundi in 2021

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The Republic of Burundi commonly referred to just as Burundi, is a landlocked African country that can be found in the Great Rift Valley, where East Africa converges with the African Great Lakes.

While forex trading is not as widespread in Burundi as it is in the rest of Africa, there are still some forex traders who are participating in the forex market by trading the Burundian franc (BIF) against several other currencies from around the world.

Forex Brokers in Burundi include the forex brokers that serve many other African regions, and they are active forex brokers in Burundi and several other global locations. These forex brokers include:

  1. FBS
  2. FXCM
  3. Interactive Brokers
  4. IQ Option
  5. eToro
  6. Alpari
  7. Olymp Trade

1. FBS

FBS is a forex broker that was founded in 2009 with headquarters based in Belize. FBS is a well-regulated broker with regulation and authorization with the International Financial Services Commission (IFSC).

Where users are concerned, there are more than a million forex traders registered with FBS, according to the official website. According to official sources, the staff size for FBS is between 100 and 250 employees.

In terms of deposit rates and fees, FBS charges a minimum deposit of as little as $1 with a spread that starts from 0.0 pips and commissions from $20. 

Where trading speed is concerned, FBS executes all clients’ orders within a few seconds. In terms of the trust, security, and security features, FBS uses trusted and strict security protocols to secure the website and the trading platform.

In terms of tradable financial instruments, FBS offers the following:

  • Forex
  • Metals
  • Indices
  • Energies
  • CFDs
  • Stocks

In terms of currency types, FBS supports the following currencies:

  • EUR
  • USD

In terms of trading software, FBS offers forex traders the following applications:

  1. MetaTrader 4
  2. MetaTrader 5
  3. FBS Trader

In terms of research and education, FBS offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Seminars
  2. Glossary
  3. Economic Calendar
  4. Currency Converter
  5. Daily Market Analysis
  6. Forex Guidebook and several others.

In terms of customer support, FBS can be contacted through the following channels:

  • WeChat
  • Facebook
  • Viber
  • Line
  • Telegram
  • WhatsApp
  • Telephone, and several more.

In terms of the service area, FBS serves traders from around the world except for traders from these regions:

  • Canada
  • Japan
  • The United States
  • Israel, and several other regions.

When compared to other forex brokers, FBS offers the following unique sides and features:

  • A safe trading environment for all forex traders
  • Competitive commission fees depend on the financial instrument, the trading volume, and some other factors.
  • A choice in reliable trading platforms
  • A wide range of tradable financial instruments

FBS is an active forex broker in Burundi with more than a few hundred registered users. In terms of market share, FBS has a decent market share in Burundi.

In terms of privileges that FBS offers to citizens from Burundi, including advanced trading tools, a choice in trading platforms, and a useful demo account.

The reason why so many forex traders use FBS in Burundi relates to its advanced trading solutions and range of trading opportunities.

To get more information, you can read the FBS Forex Suggest review.

2. FXCM

FXCM is a forex broker that was founded in 1999 and is headquartered in the United Kingdom. FXCM is a regulated broker with regulation and authorization through these entities:

  • Financial Conduct Authority (FCA)
  • The Financial Sector Conduct Authority (FSCA)
  • The Cyprus Securities and Exchange Commission (CySEC)
  • The Australian Securities and Investment Commission (ASIC)

Drew Niv founded FXCM, and the CEO is Brendan Callan, who has held the position for the past four years. The average daily trading volume for FXCM is 3.8 billion USD, according to official sources.

According to official sources, the staff size for FXCM is between 500 and 1 000 employees.

In terms of deposit rates and fees, FXCM charges a minimum deposit of $50 with a spread from 0.2 pips and commissions from 0.10 USD per lot.

In terms of trading speed, FXCM fills 87% of all orders with zero or positive slippage within 0.032 seconds. In terms of the trust, security, and security features, FXCM is known for ensuring client fund security and a safe trading environment.

In terms of tradable financial instruments, FXCM offers the following:

  • Forex
  • Commodities
  • Cryptocurrencies
  • Indices

In terms of currency types, FXCM supports the following currencies:

  • USD
  • EUR
  • GBP
  • CHF
  • JPY
  • NZD
  • CAD
  • AUD

In terms of trading software, FXCM offers forex traders the following applications:

  1. Trading Station
  2. MetaTrader 4
  3. NinjaTrader
  4. ZuluTrade
  5. TradingView
  6. Capitalise AI

In terms of research and education, FXCM offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. MT4 VPS
  2. Live Forex Charts
  3. Economic Calendar
  4. FXCM Plus
  5. FXCM Apps
  6. Market Scanner
  7. Daily Technical Levels
  8. Trading Videos
  9. Trading Articles
  10. Glossary

In terms of customer support, FXCM can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Twitter

In terms of the service area, FXCM serves traders from around the world except for traders from these regions:

  • The United States
  • Ukraine
  • Turkey
  • Russia
  • Iran, and several other regions.

When compared to other forex brokers, FXCM offers the following unique sides and features:

  • A safe and secure trading platform
  • Low and transparent commission charges
  • A choice between several reputable, reliable trading platforms
  • More than 60 tradable instruments

FXCM is an active forex broker in Burundi with more than a few 100 registered users. In terms of market share, FXCM shares the space with other popular forex brokers.

In terms of privileges that FXCM offers to citizens from Burundi with unique trading solutions and an ideal environment for beginner traders.

The reason why so many forex traders use FXCM in Burundi relates to its selection of trading software, competitive trading conditions, and range of markets.

To get more information, you can read the FXCM Forex Suggest review.

3. Interactive Brokers

Interactive Brokers is a forex broker that was founded in 1978 and is headquartered in the United States. Interactive Brokers is a regulated broker with regulation and authorization through these entities:

  • Commodity Futures Trading Commission (CFTC)
  • Investment Industry Regulatory Organization of Canada (IIROC)
  • The Financial Conduct Authority (FCA)
  • The Australian Securities and Investment Commission (ASIC)
  • Monetary Authority of Singapore (MAS)
  • Commission de Surveillance du Secteur Financier (CSSF)
  • Magyar Nemzeti Bank (MNB)
  • Stock Exchange of Hong Kong (SEHK or HKEX)
  • Kien Long Commercial Joint Stock Bank (KLB)

Thomas Peterfly founded Interactive Brokers, and the CEO is Milan Galik, who has held the position for the past two years. The market capitalization for Interactive Brokers is $28.03 billion, according to official stock information.

In terms of users, there are more than 600 000 forex traders registered with Interactive Brokers, according to trusted sources. According to official sources, the staff size for Interactive Brokers is more than 1 600 employees.

In terms of deposit rates and fees, Interactive Brokers does not have a predetermined deposit rate. Interactive Brokers charges variable spreads with either tiered or fixed commission charges.

In terms of trading speed, Interactive Brokers guarantees low latency, fast, reliable trade execution with minimal slippage. In terms of the trust, security, and security features, Interactive Brokers is one of the most trusted forex brokers with multi-regulation and strict protocols.

In terms of tradable financial instruments, Interactive Brokers offers the following:

  • Stocks
  • Options
  • Futures
  • Forex
  • Metals
  • Bonds
  • ETFs
  • Mutual Funds
  • Hedge Funds
  • Robo Portfolios

In terms of currency types, Interactive Brokers supports the following currencies:

  • USD
  • JPY
  • GBP
  • EUR, and several others.

In terms of trading software, Interactive Brokers offers forex traders the following applications:

  1. Interactive Brokers’ Client Portal
  2. Desktop TWS
  3. IBKR Mobile
  4. IBot
  5. IBKR WebTrader (Only for IBKR Pro Accounts)
  6. IBKR APIs (Only for IBKR Pro Accounts)

In terms of research and education, Interactive Brokers offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Investors’ marketplace
  2. Apps, tools, and widgets
  3. Knowledge Base
  4. Traders’ Academy
  5. More than 150 videos
  6. Courses and tours

In terms of customer support, Interactive Brokers can be contacted through the following channels:

  • Email
  • Live chat
  • IBot FAQs
  • Telephone
  • Facebook
  • Twitter
  • LinkedIn

In terms of the service area, Interactive Brokers serves traders from around the world except for traders from these regions:

  • Afghanistan
  • Iran
  • Iraq
  • Somalia, and several other regions.

When compared to other forex brokers, Interactive Brokers offers the following unique sides and features:

  • A secure trading platform that is protected with the latest in innovative software
  • A choice between tiered and fixed commissions
  • A choice between several trading platforms, each with its benefits and functions
  • More than 125 tradable financial instruments spread across a series of asset classes

Interactive Brokers is an active forex broker in Burundi with more than 500 registered users. In terms of market share, Interactive Brokers has a solid position despite the competitors because of its size and trustworthiness.

In terms of privileges, Interactive Brokers caters for Burundian citizens by offering educational sources, user-friendly solutions and platforms, and a choice in trading accounts.

The reason why so many forex traders use Interactive Brokers in Burundi relates to its superior customer support, trading software, and secure environment.

To get more information, you can read the Interactive Brokers Forex Suggest review.

4. IQ Option

IQ Option is a forex broker that was founded in 2013 and is headquartered in Cyprus. IQ Option is a regulated broker with regulation and authorization through the Cyprus Securities and Exchange Commission (CySEC).

Dmitry Zaretsky is the founder of IQ Option, and the CEO is Timofey Baranov, who has held the position for the past four consecutive years. The average volume of daily transactions for IQ Option is $3.5 billion, according to trusted sources.

There are more than 20 million registered users with IQ Option, according to trusted sources. According to official sources, the staff size for IQ Option is between 10 and 50 employees.

In terms of deposit rates and fees, IQ Option charges a minimum deposit of $10 with a spread from 0.1 pips with commissions from 0 USD.

In terms of trading speed, IQ Option guarantees trade execution within 0.7 seconds. In terms of the trust, security, and security features, IQ Option offers a safe trading environment and client fund security by using segregated accounts with top-tier banks.

In terms of tradable financial instruments, IQ Option offers the following:

  • Forex
  • Options
  • Stock CFDs
  • ETFs
  • Cryptocurrencies
  • Commodities

In terms of currency types, IQ Option supports the following currencies:

  • USD
  • GBP
  • EUR, and more.

In terms of trading software, IQ Option offers forex traders the use of its proprietary trading software. In terms of research and education, IQ Option offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Historical Quotes
  2. Calendars
  3. Stock Collections
  4. Industries
  5. Video Tutorials

In terms of customer support, IQ Option can be contacted through the following channels:

  • Telephone
  • Email
  • Online Chat
  • Facebook
  • Telegram
  • Twitter
  • Instagram

In terms of the service area, IQ Option serves traders from around the world except for traders from these regions:

  • The United States
  • Canada
  • Australia
  • Russia
  • North Korea and several other regions.

When compared to other forex brokers, IQ Option offers the following unique sides and features:

  • A safe and secure trading platform where traders can execute trades knowing that their funds are safe.
  • Competitive trading conditions that depend on the trading instrument, volume, and whether overnight positions are held
  • Innovative trading technology
  • A range of tradable instruments spread across several global financial markets

IQ Option is an active forex broker in Burundi with more than a few thousand registered users. In terms of market share, IQ Option has the most downloaded forex trading app being used by millions of forex traders from around the world.

In terms of privileges that IQ Option offers to citizens from Burundi with user-friendly trading software, a choice in trading opportunities, and useful educational resources.

The reason why so many forex traders use IQ Option in Burundi relates to its unique trading solutions and widespread availability across mobile devices.

To get more information, you can read the IQ Option Forex Suggest review.

5. eToro

eToro is a forex broker that was founded in 2007 and is headquartered in Cyprus, United Kingdom, and Israel. eToro is a regulated broker that has regulation and authorization through these reputable entities:

  • The Financial Conduct Authority (FCA) in the United Kingdom
  • Cyprus Securities and Exchange Commission (CySEC) in Cyprus
  • The Australian Securities and Investment Commission (ASIC) in Australia

Yoni Assia, Ronen Assia, and David Ring are the founders of eToro, with Yoni Assia serving as the CEO for the past 14 years. eToro has an average daily trading volume of more than 4.3 billion USD, according to official sources.

In terms of users, millions of forex traders have registered with eToro, according to trusted sources. According to official sources, the staff size for eToro is between 500 and 1,000 employees.

In terms of deposit rates and fees, eToro charges a minimum deposit of $200 with a spread that starts from 3 pips EUR/USD and the benefit of commission-free trading.

In terms of trading speed, eToro executes all trades within a few milliseconds with minimal slippage, and no requotes. In terms of the trust, security, and security features, eToro is a trusted and well-regulated broker that uses strict protocols to secure the website and trading platform.

In terms of tradable financial instruments, eToro offers the following:

  • Indices
  • Metals
  • Energies
  • Bonds
  • Forex
  • Commodities
  • Cryptocurrency
  • Stocks
  • Shares
  • ETFs
  • CFDs

In terms of currency types, eToro supports the following currencies:

  • AUD
  • EUR
  • USD
  • GBP
  • RUB, and more.

In terms of trading software, eToro offers forex traders the use of its proprietary trading platform that can be downloaded across several devices, including desktop and mobile. In terms of research and education, eToro offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. eToro Watchlist
  2. eToro Portfolio
  3. eToro News Feed
  4. eToro Copy People
  5. eToro Trade Markets
  6. eToro Instrument feed, and a range of others.

In terms of customer support, eToro can be contacted through the following channels:

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Email
  • Telephone

In terms of the service area, eToro serves traders from around the world except for traders from these regions:

  • The United States
  • Syria
  • Sudan
  • Serbia
  • Canada
  • Albania, and some other regions.

When compared to other forex brokers, eToro offers the following unique sides and features:

  • eToro is a large forex broker and the leading online social platform that is used by many
  • There are no commissions charged on trades
  • There is a reliable, innovative, and intuitive proprietary trading platform
  • There is a variety of tradable financial instruments available

eToro is an active forex broker in Burundi with more than a few hundred registered users. In terms of market share, eToro is one of the popular forex brokers in the country with a decent market share.

In terms of privileges that eToro offers to citizens from Burundi with user-friendly trading solutions, a beginner-friendly trading platform, and a demo account to get them started in forex trading.

The reason why so many forex traders use eToro in Burundi relates to its innovative trading platform, useful tools, large online community, and commission-free trading options.

To get more information, you can read the eToro Forex Suggest review.

6. Alpari

Alpari is a forex broker that was founded in 1998 and is headquartered in Russia. Alpari is a regulated broker with regulation and authorization through the Financial Services Commission (FSC).

The CEO for Alpari is Vladimir Verbitskiy, who has held the position for the past three consecutive years. Alpari has an average volume of daily transactions of 3.0 billion USD, according to trusted sources. 

In terms of users, there are more than 2 million forex traders registered with Alpari, according to trusted sources. According to official sources, the staff size for Alpari is between 500 and 1,000 employees.

In terms of deposit rates and fees, Alpari charges a minimum deposit of $5 with spreads that start from 0.4 pips and commissions of $1,5 per lot per side.

In terms of trading speed, Alpari executes all orders within 0.06 seconds. In terms of the trust, security, and security features, Alpari offers a safe trading environment through robust security and safety of funds.

In terms of tradable financial instruments, Alpari offers the following:

  • Forex
  • Cryptocurrencies
  • Spot CFDs
  • Metals

In terms of currency types, Alpari supports the following currencies:

  • USD
  • EUR
  • GBP
  • NGN

In terms of trading software, Alpari offers forex traders a choice between MetaTrader 4 and MetaTrader 5. In terms of research and education, Alpari does not offer a free newsletter or a blog, but forex traders can expect these useful trading tools:

  1. Alpari Forex Trading Webinars
  2. Beginners Guide to Trading
  3. Forex Trading Strategies
  4. Commodity Trading Guide
  5. Precious Metal Trading Guide and several others.

In terms of customer support, Alpari can be contacted through the following channels:

  • Email
  • Telephone
  • Live Chat
  • Facebook
  • Twitter
  • Instagram

In terms of the service area, Alpari serves traders from around the world except for traders from these regions:

  • Belarus
  • The United States
  • Mauritius
  • Japan
  • British Columbia
  • Ukraine
  • Georgia, and several other regions from around the world.

When compared to other forex brokers, Alpari offers the following unique sides and features:

  • A secure environment where client funds are kept in segregated accounts
  • Ultra-low commission charges
  • Access to two powerful, popular trading platforms
  • The ability to trade in more than 70 different financial instruments

Alpari is an active forex broker in Burundi with more than 1,000 registered users. In terms of market share, Alpari has a decent portion in Burundi despite the competition that it faces.

In terms of privileges that Alpari offers to citizens from Burundi, beginners can expect access to user-friendly options, a choice in accounts, and educational tools.

The reason why so many forex traders use Alpari in Burundi relates to its trading software, secure environment, and ultra-low commissions.

To get more information, you can read the Alpari Forex Suggest review.

7. Olymp Trade

Olymp Trade is a forex broker that was founded in 2014 and is headquartered in Saint Vincent and the Grenadines. Olymp Trade is a forex broker that is not yet regulated or authorized by any known regulatory entities.

The current CEO for Olymp Trade is Andreas A., who has held the position for the past seven consecutive years. Olymp Trade executes an average of $170 million trades a month.

In terms of users, there are more than 240 000 forex traders registered with Olymp Trade. According to official sources, the staff size for Olymp Trade is between 10 and 50 employees. 

In terms of deposit rates and fees, Olymp Trade charges a minimum deposit of $10. Olymp Trade does not charge a spread, but commissions are between 13.5% and 20%.

In terms of trading speed, Olymp Trade ensures that there is reliable and fast trade execution with minimal slippage. In terms of security, OlympTrade uses a 256-bit SSL to encrypt the information and data of clients who operate on the website and platform.

In terms of tradable financial instruments, Olymp Trade offers the following:

  • Cryptocurrencies
  • Forex
  • US Stocks
  • Commodities
  • Indices

In terms of currency types, Olymp Trade supports the use of proprietary trading software across several devices. In terms of research and education, Olymp Trade offers a free newsletter and blog. Forex traders can also expect these useful trading tools:

  1. Trading Signals
  2. Daily Review
  3. Weekly Review
  4. 250 Videos of past webinars
  5. Articles

In terms of customer support, Olymp Trade can be contacted through the following channels:

  • Telephone
  • Email
  • Live Chat
  • Facebook
  • Instagram
  • Twitter

In terms of the service area, Olymp Trade serves traders from around the world except for traders from these regions:

  • The United States
  • United Kingdom

When compared to other forex brokers, Olymp Trade offers the following unique sides and features:

  • Client fund segregation
  • Competitive and low trading commissions that depend on the trading instrument and volume being traded
  • Powerful proprietary trading software
  • A variety of financial instruments can be traded.

Olymp Trade is an active forex broker in Burundi with more than a few hundred registered users. In terms of market share, Olymp Trade may not dominate the forex trading space in Burundi, but it is an active broker with some support from traders.

In terms of privileges, Olymp Trade does not offer Burundian citizens any privileges, and the reason why forex traders use Olymp Trade in Burundi relates to its low commissions and innovative proprietary trading software.

To get more information, you can read the Olymp Trade Forex Suggest review.

Forex Trading in Burundi

Burundi’s forex trading activity is not very widespread because there is more than 15% of the population live in urban areas without any connection to the rest of the world through technology.

There are only a few forex traders who reside in Burundi, and even though there is no official count given by trusted sources, it is safe to say that there are less than 100 people who know about forex trading.

With the internet slowly becoming more widespread in many underdeveloped countries, there is hope that more people in Burundi will be given access to the internet, helping them connect to the global financial markets.

There are no laws that prohibit forex trading in Burundi, but there are also no laws that provide a clear legislative guideline or structure. This means that many brokers offer their services to Burundi, but not all of them can be trusted.

While the brokers provided on this list are regulated and trusted brokers, there is no way for the Burundi government to protect its citizens from scam brokers that come into the country and offer their services.

What should be known for Forex Trading in Burundi

The government of Burundi has not yet made any attempt to build a regulatory structure where forex trading can be incorporated, along with other financial markets that can be traded and that may draw more investors to this African country.

The Burundi government has several state agencies that are tasked with overseeing the financial sectors, such as the Bank of the Republic of Burundi (BRB), which oversees the entire financial sector as well as the economy.

There is also the Insurance Regulation and Control Agency, which oversees regulating insurance companies that operate and provide products and services in Burundi.

While these two key players oversee the financial sector, neither of them has the necessary means to regulate or provide licensing to forex brokers, which is something that will hopefully change in the future.

Who are the Forex Regulators in Burundi?

The Bank of the Republic of Burundi oversees the financial sector of Burundi but does not provide specific regulations of the forex market.

Is Forex Trading legal in Burundi?

Yes, there are no laws that stop forex traders in Burundi from participating in the forex market.

How many Forex Traders are there in Burundi?

There is no official count on the number of forex traders in Burundi. However, due to the lack of access to the forex market and forex trading not being a popular activity, there may be less than 100 forex traders based in the country.

What do Burundi’s citizens think about Forex Trading?

Forex trading is not a widespread activity in Burundi, and therefore many citizens may not even know of its existence, except for a few who work in larger towns and cities and who deal with international affairs.

Best Forex Brokers for Beginners in Burundi

The best forex brokers for beginners in Burundi are:

  1. eToro
  2. FXCM
  3. Alpari
  4. FXTM
  5. XM

These forex brokers were selected as the best for beginners because they offer tailor-made solutions to support and guide novice traders who do not know how to navigate the forex market.

Best Forex Brokers for Experts in Burundi

The best forex brokers for Experts in Burundi are:

  1. FBS
  2. Interactive Brokers
  3. IQ Option
  4. Alpari
  5. Olymp Trade

These are the best forex brokers who offer tailored solutions to expert traders. These brokers offer the best trading conditions in the industry along with the most advanced, innovative trading tools.

Best Forex Brokers for Other Countries

The best forex brokers for Rwanda are:

  1. FXTM
  2. Pepperstone
  3. easyMarkets
  4. IC Markets
  5. XTB

The best forex brokers for Uganda are:

  1. Oanda
  2. Trading 212
  3. BDSwiss
  4. XTB
  5. IC Markets