To help you find the best forex brokers in Zimbabwe in 2022, we went ahead and did the research for you. First, we selected 100 quality online brokers, then we checked and compared fees, currency pairs, charting tools, platforms - practically everything. And now, without further ado...
Our top 5 picks for the best forex brokers in Zimbabwe in 2022:
- Fusion Markets is our winner, the best forex broker in Zimbabwe in 2022. Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- Capital.com takes second place. Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- MultiBank rounds out the top three. Quick and easy account opening. Free and varied deposit and withdrawal options. Fast and helpful customer service.
- XTB is ranked fourth. Low forex CFD fees, commission-free stocks/ETFs for some. Free and fast deposit and withdrawal. Easy and fast account opening.
- TMGM completes the list at number five. Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
| Broker | Forex fee score | ||
|---|---|---|---|
| #1 | Fusion Markets | 4.9 stars |
Visit broker
74-89% of retail CFD accounts lose money |
| #2 | Capital.com | 3.7 stars |
Visit broker
75.26% of retail CFD accounts lose money |
| #3 | MultiBank | 4.8 stars |
Visit broker
74-89% of retail CFD accounts lose money |
| #4 | XTB | 3.9 stars |
Visit broker
73% of retail CFD accounts lose money |
| #5 | TMGM | 4.6 stars |
Visit broker
74-89% of retail CFD accounts lose money |
What makes a good forex broker? First of all, fair forex fees and low withdrawal fees. They should also offer many currency pairs and a great platform with advanced charting. All of these are easy to list, but hard to figure out. To get an accurate view, we test brokers based on almost 500 criteria, using real accounts and real money.
If you are a beginner, be careful with forex trading. Forex products are complex and very risky, thus not suitable for everyone. You can easily lose all your invested money. If you don't have a clue how forex trading works, start with our forex trading 101 articles.
And now, let's see the top forex brokers in 2022 for Zimbabwean citizens one by one, starting with the winner, Fusion Markets.
#1 Best forex broker
Fusion Markets
Fusion Markets is an Australian discount forex broker founded in 2010. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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.
#1 Fusion Markets
Fees
Fusion Markets 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.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $5.2 | $8.7 | $5.0 | $8.3 | $5.9 |
| GBPUSD benchmark fee | $3.2 | $6.6 | $2.9 | $5.8 | $4.4 |
| AUDUSD benchmark fee | $2.5 | $6.1 | $4.3 | $7.0 | $5.6 |
| EURCHF benchmark fee | $3.6 | $9.6 | $4.1 | $6.1 | $3.6 |
| EURGBP benchmark fee | $5.7 | $10.9 | $7.8 | $9.7 | $6.6 |
All spreads, commissions and financing rate for opening a position, holding for a week and closing.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#1 Fusion Markets
Markets and products
Fusion Markets gives access to 89 currency pairs.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Currency pairs (#) | 89 | 138 | 55 | 57 | 57 |
#1 Fusion Markets
Desktop trading platform
In design and functionality, Fusion Markets's MetaTrader 4 desktop platform is almost the same as the web trading platform. A major difference is that you can set price alerts here.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Poor design |
| • Price alerts |
Fusion Markets has average charting tools and you can use 31 technical indicators.
#2 Best forex broker
Capital.com
Capital.com is a global CFD broker founded in 2016. It has offices located in the United Kingdom, Cyprus, Australia, and Belarus 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 National bank of the Republic of Belarus (NBRB).
Disclaimer: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.26% 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.
#2 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.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $5.2 | $8.7 | $5.0 | $8.3 | $5.9 |
| GBPUSD benchmark fee | $3.2 | $6.6 | $2.9 | $5.8 | $4.4 |
| AUDUSD benchmark fee | $2.5 | $6.1 | $4.3 | $7.0 | $5.6 |
| EURCHF benchmark fee | $3.6 | $9.6 | $4.1 | $6.1 | $3.6 |
| EURGBP benchmark fee | $5.7 | $10.9 | $7.8 | $9.7 | $6.6 |
All spreads, commissions and financing rate for opening a position, holding for a week and closing.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 Capital.com
Markets and products
Capital.com gives access to 138 currency pairs.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Currency pairs (#) | 89 | 138 | 55 | 57 | 57 |
#2 Capital.com
Desktop trading platform
Capital.com's desktop trading platform is provided by MetaTrader. It's highly customizable and supports price alerts, but it lacks a two-step login and the design is outdated. MetaTrader platform is not available in the UK.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Poor design |
| • Price alerts |
Capital.com has great charting tools and you can use 85 technical indicators.
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#3 Best forex broker
MultiBank
MultiBank is a global CFD and FX broker. MultiBank Group is a global financial group whose member companies are active in areas from asset management to brokerage. MultiBank's brokerage service is operating under several legal entities, regulated by the Australian Securities and Investments Commission (ASIC) and other financial authorities. In this review, we will use MultiBank as a name for the brokerage service.
MultiBank is considered safe because it is regulated by the top-tier ASIC and has a reasonably long history, dating back to 2005.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.
#3 MultiBank
Fees
MultiBank 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.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $5.2 | $8.7 | $5.0 | $8.3 | $5.9 |
| GBPUSD benchmark fee | $3.2 | $6.6 | $2.9 | $5.8 | $4.4 |
| AUDUSD benchmark fee | $2.5 | $6.1 | $4.3 | $7.0 | $5.6 |
| EURCHF benchmark fee | $3.6 | $9.6 | $4.1 | $6.1 | $3.6 |
| EURGBP benchmark fee | $5.7 | $10.9 | $7.8 | $9.7 | $6.6 |
All spreads, commissions and financing rate for opening a position, holding for a week and closing.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#3 MultiBank
Markets and products
MultiBank gives access to 55 currency pairs.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Currency pairs (#) | 89 | 138 | 55 | 57 | 57 |
#3 MultiBank
Desktop trading platform
In design and functionality, MultiBank's MetaTrader 4/5 desktop platforms are almost the same as their web versions; a plus is that you can set price alerts on the desktop platform.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Poor design |
| • Price alerts |
MultiBank has average charting tools and you can use 31 technical indicators.
#4 Best forex broker
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.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
#4 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.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $5.2 | $8.7 | $5.0 | $8.3 | $5.9 |
| GBPUSD benchmark fee | $3.2 | $6.6 | $2.9 | $5.8 | $4.4 |
| AUDUSD benchmark fee | $2.5 | $6.1 | $4.3 | $7.0 | $5.6 |
| EURCHF benchmark fee | $3.6 | $9.6 | $4.1 | $6.1 | $3.6 |
| EURGBP benchmark fee | $5.7 | $10.9 | $7.8 | $9.7 | $6.6 |
All spreads, commissions and financing rate for opening a position, holding for a week and closing.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 XTB
Markets and products
XTB gives access to 57 currency pairs.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Currency pairs (#) | 89 | 138 | 55 | 57 | 57 |
#4 XTB
Desktop trading platform
XTB's xStation 5 platform has a desktop version as well. In both functionality and design, it's exactly the same as the web trading platform.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
XTB has great charting tools and you can use 39 technical indicators.
#5 Best forex broker
TMGM
TMGM, or Trademax Global Markets, is an Australia-based global forex broker founded in 2013. The company has several branches and is regulated by the Australian Securities and Investment Commission (ASIC), the New Zealand Financial Markets Authority (FMA) and the Vanuatu Financial Services Commission (VFSC).
TMGM is considered safe because it is regulated by the top-tier ASIC.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.
#5 TMGM
Fees
TMGM 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.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $5.2 | $8.7 | $5.0 | $8.3 | $5.9 |
| GBPUSD benchmark fee | $3.2 | $6.6 | $2.9 | $5.8 | $4.4 |
| AUDUSD benchmark fee | $2.5 | $6.1 | $4.3 | $7.0 | $5.6 |
| EURCHF benchmark fee | $3.6 | $9.6 | $4.1 | $6.1 | $3.6 |
| EURGBP benchmark fee | $5.7 | $10.9 | $7.8 | $9.7 | $6.6 |
All spreads, commissions and financing rate for opening a position, holding for a week and closing.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | No | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 TMGM
Markets and products
TMGM gives access to 57 currency pairs.
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Currency pairs (#) | 89 | 138 | 55 | 57 | 57 |
#5 TMGM
Desktop trading platform
In design and functionality, TMGM's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Poor design |
| • Price alerts |
TMGM has average charting tools and you can use 31 technical indicators.
Best forex brokers
What makes a top forex broker?
Trading forex has become really popular over the last decade. Looking at important criteria like fees will help you find the best forex broker for you.
At BrokerChooser, we test online brokers according to nearly 500 criteria, using a real account and real money.
The most important factors to consider in selecting the top forex brokers are forex trading fees. Besides trading fees, you should also look at withdrawal fees and the number of available currency pairs. Check if the broker provides great desktop and mobile trading platforms as well as advanced charting tools.
Best forex brokers
Forex broker fees
Fees, fees, fees. We bet this is always on your mind when you're on the hunt for the best forex broker. But this can be a complicated issue. Let's see how we dealt with it.
It's not easy to compare forex broker fees, but we are here to help. Generally, forex brokers can charge commissions, spreads and financing fees.
For commissions, there are two approaches forex brokers can 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 mean that the first method cannot be cheaper.
When you trade forex on leverage and hold your position overnight, a fee will be charged. This fee is called the financing cost. Financing costs change daily and can make up a significant part of your overall costs if you hold your positions for a longer period.
To make your life easier, we calculated what your overall fee would be if you took a $20,000 position, held it for a week and then closed it. We used 30:1 leverage, the maximum available leverage for major currency pairs at many brokers.
Best forex brokers
Bottom line
You saw the details, now let's zoom out. Here are the top forex brokers in 2022 for citizens in Zimbabwe:
| Fusion Markets | Capital.com | MultiBank | XTB | TMGM | |
|---|---|---|---|---|---|
| Forex fee scores | 4.9 stars | 3.7 stars | 4.8 stars | 3.9 stars | 4.6 stars |
| Deposit and withdrawal score | 4.4 stars | 4.5 stars | 5.0 stars | 4.5 stars | 4.3 stars |
| Markets and products score | 2.2 stars | 3.4 stars | 2.0 stars | 3.3 stars | 2.2 stars |
| Desktop platform score | 3.4 stars | 3.4 stars | 3.4 stars | 4.4 stars | 3.4 stars |
|
Visit broker
74-89% of retail CFD accounts lose money |
Visit broker
75.26% of retail CFD accounts lose money |
Visit broker
74-89% of retail CFD accounts lose money |
Visit broker
73% of retail CFD accounts lose money |
Visit broker
74-89% of retail CFD accounts lose money |
Fusion Markets is our winner, the best forex broker for Zimbabwean citizens in 2022. Low trading and non-trading fees. Fast and easy account opening. Great customer service.
All of these brokers are great choices, but watch out, as forex trading can be risky. If you know enough and are good to go, 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 tool and find the best broker for you.
