To help you find the best forex brokers for beginners in Zimbabwe in 2022, we first looked at 101 online brokers; then we checked and compared their fees, currency pair selection, charting tools and educational materials.
Our top 5 picks for the best forex brokers for beginners in Zimbabwe in 2022:
- Capital.com is the winner, the best forex broker for beginners in Zimbabwe in 2022. Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- XTB takes second place. Low forex CFD fees, commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- ActivTrades rounds out the top three. Low trading fees. Excellent account opening. Free deposit and withdrawal.
- AvaTrade is ranked fourth. Easy and fast account opening. Free deposit and withdrawal options. Great research tools.
- FBS just made it on the list, taking the number five spot. Low stock and stock index CFD fees and no inactivity fee. Easy and fast account opening. Excellent customer support & education.
| Broker | Info | Minimum deposit | Forex fee score | |
|---|---|---|---|---|
| #1 | Capital.com | Global CFD broker | $20 | 3.7 stars |
| #2 | XTB | Global CFD broker | $0 | 3.9 stars |
| #3 | ActivTrades | Global CFD and forex broker | $500 | 4.2 stars |
| #4 | AvaTrade | Global CFD and forex broker | $100 | 3.1 stars |
| #5 | FBS | Global CFD broker. | $1.2 | 3.4 stars |
What makes a top forex broker for beginners?
- First of all, fair forex fees.
- A lot of currency pairs.
- A great platform with advanced charting.
- Educational tools to guide you through the basics of trading.
If you're a beginner, be careful with forex trading as forex products are complex and risky, therefore not suitable for everyone. You can easily lose all your invested money. If you don't know how forex trading works, take a look at our forex education articles.
If you feel a bit more comfortable with forex trading, we suggest you also check out our overall list of the best forex brokers.
And now, let's see the top forex brokers for beginners in 2022 for Zimbabwean citizens one by one, starting with the winner, Capital.com.
#1 Best forex brokers for beginners
Capital.com
Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, Seychelles and Gibraltar where each is authorized and regulated locally respectively by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.17% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for investors and cfd traders looking for a great trading platform and excellent customer service
#1 Capital.com
Fees
Capital.com has low fees when it comes to buying and selling currency pairs.
To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.7 | $8.3 | $6.9 | $10.3 | $8.6 |
| GBPUSD benchmark fee | $6.6 | $5.8 | $4.9 | $9.0 | $6.1 |
| AUDUSD benchmark fee | $6.1 | $7.0 | $6.7 | $10.0 | $10.2 |
| EURCHF benchmark fee | $9.6 | $6.1 | $5.1 | $10.2 | $8.0 |
| EURGBP benchmark fee | $10.9 | $9.7 | $8.7 | $12.1 | $13.9 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#1 Capital.com
Markets and products
Capital.com gives access to 138 currency pairs.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Currency pairs (#) | 138 | 57 | 49 | 55 | 100 |
#2 Best forex brokers for beginners
XTB
XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange and publishes its financial statements transparently.
HEADS UP: Recent feedback about deposit & withdrawal - The details of a wire transfer deposit might be unclear for some of our users according to recent feedback we received. If you have problems, head to the Deposit and withdrawal section of the review, where we explain how to do a free wire deposit to your XTB account under the 'Deposit and fees and options' heading.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
#2 XTB
Fees
XTB has low fees when it comes to buying and selling currency pairs.
To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.7 | $8.3 | $6.9 | $10.3 | $8.6 |
| GBPUSD benchmark fee | $6.6 | $5.8 | $4.9 | $9.0 | $6.1 |
| AUDUSD benchmark fee | $6.1 | $7.0 | $6.7 | $10.0 | $10.2 |
| EURCHF benchmark fee | $9.6 | $6.1 | $5.1 | $10.2 | $8.0 |
| EURGBP benchmark fee | $10.9 | $9.7 | $8.7 | $12.1 | $13.9 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 XTB
Markets and products
XTB gives access to 57 currency pairs.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Currency pairs (#) | 138 | 57 | 49 | 55 | 100 |
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#3 Best forex brokers for beginners
ActivTrades
ActivTrades is a global forex broker founded in 2001. It is regulated by the UK's Financial Conduct Authority (FCA) and Commission de Surveillance du Secteur Financier (CSSF)
ActivTrades is considered safe because it has a long track record and it is regulated by the FCA, a top-tier financial authority.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal conditions
#3 ActivTrades
Fees
ActivTrades has low fees when it comes to buying and selling currency pairs.
To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.7 | $8.3 | $6.9 | $10.3 | $8.6 |
| GBPUSD benchmark fee | $6.6 | $5.8 | $4.9 | $9.0 | $6.1 |
| AUDUSD benchmark fee | $6.1 | $7.0 | $6.7 | $10.0 | $10.2 |
| EURCHF benchmark fee | $9.6 | $6.1 | $5.1 | $10.2 | $8.0 |
| EURGBP benchmark fee | $10.9 | $9.7 | $8.7 | $12.1 | $13.9 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#3 ActivTrades
Markets and products
ActivTrades gives access to 49 currency pairs.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Currency pairs (#) | 138 | 57 | 49 | 55 | 100 |
#4 Best forex brokers for beginners
AvaTrade
AvaTrade is a global CFD and forex broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for an option to use metatrader platforms
#4 AvaTrade
Fees
AvaTrade has average fees when it comes to buying and selling currency pairs.
To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.7 | $8.3 | $6.9 | $10.3 | $8.6 |
| GBPUSD benchmark fee | $6.6 | $5.8 | $4.9 | $9.0 | $6.1 |
| AUDUSD benchmark fee | $6.1 | $7.0 | $6.7 | $10.0 | $10.2 |
| EURCHF benchmark fee | $9.6 | $6.1 | $5.1 | $10.2 | $8.0 |
| EURGBP benchmark fee | $10.9 | $9.7 | $8.7 | $12.1 | $13.9 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 AvaTrade
Markets and products
AvaTrade gives access to 55 currency pairs.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Currency pairs (#) | 138 | 57 | 49 | 55 | 100 |
#5 Best forex brokers for beginners
FBS
FBS is a global CFD broker founded in 2009. It is regulated by multiple financial authorities globally, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the International Financial Services Commission of Belize (IFSC) and the Financial Sector Conduct Authority (FSCA)
The services provided by the broker differ slightly depending on the legal entity you open an account with. In this review, we focus on the services provided under CySEC, but highlight relevant information for the other legal entities.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for investors and cfd traders familiar with the metatrader trading platforms
#5 FBS
Fees
FBS has average fees when it comes to buying and selling currency pairs.
To have a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $8.7 | $8.3 | $6.9 | $10.3 | $8.6 |
| GBPUSD benchmark fee | $6.6 | $5.8 | $4.9 | $9.0 | $6.1 |
| AUDUSD benchmark fee | $6.1 | $7.0 | $6.7 | $10.0 | $10.2 |
| EURCHF benchmark fee | $9.6 | $6.1 | $5.1 | $10.2 | $8.0 |
| EURGBP benchmark fee | $10.9 | $9.7 | $8.7 | $12.1 | $13.9 |
All spreads, commissions and financing rates for opening a position, holding for a week and closing.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | Yes | Yes | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 FBS
Markets and products
FBS gives access to 100 currency pairs.
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Currency pairs (#) | 138 | 57 | 49 | 55 | 100 |
Best forex brokers for beginners
Forex broker fees
Forex brokers can charge commissions, spreads and financing fees.
When it comes to commissions, there are two different fee structures forex brokers normally use:
- All trading fees are included in the spread except the financing rate. Basically, think of it as the broker giving you a wider spread than it gets from the market.
- You get the market spread, but you pay a commission based on the traded amount. This model is usually used by ECN brokers.
The second version is more transparent, but this doesn't always mean it's more expensive.
When you trade forex on leverage and hold your position overnight, a fee will be charged. This is called financing cost. Financing costs change daily, and can add up if you hold your positions for a longer period.
Best forex brokers for beginners
Bottom line
You saw the details, now let's zoom out. Here are the top forex brokers for beginners in 2022 for citizens in Zimbabwe:
| Capital.com | XTB | ActivTrades | AvaTrade | FBS | |
|---|---|---|---|---|---|
| Fees score | 4.4 stars | 4.4 stars | 4.5 stars | 3.8 stars | 3.8 stars |
| Markets and products score | 3.1 stars | 2.9 stars | 1.5 stars | 2.3 stars | 2.2 stars |
| Education score | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Charting quality | High | High | High | High | OKish |
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79.17% of retail CFD accounts lose money |
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76% of retail CFD accounts lose money |
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65% of retail CFD accounts lose money |
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71% of retail CFD accounts lose money |
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75.2% of retail CFD accounts lose money |
Capital.com is our winner, the best forex broker for beginners for Zimbabwean citizens in 2022. Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
If you know enough about forex trading and are comfortable with possible risks, pick your favourite and take the next step in your trading journey. Let us know what you think in the comments section.
Still unsure? Use our broker finder to pick the best broker for you.
