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To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 94 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.

5 brokers made it to the top in Tanzania. We highly recommend all 5 to you. And now, without further ado...

The top 5 picks for best international online broker of 2021 for citizens in Tanzania:

  1. Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
  2. XTB takes second place. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
  3. Trading 212 rounds out the top three. Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms.
  4. Zacks Trade, numero quattro. Low fees. Extensive stock and ETF selection. Great customer service.
  5. Fusion Markets just made it to the list at in fifth place. Low trading and non-trading fees. Fast and easy account opening. Great customer service.
Best international online brokers of 2021 for citizens in Tanzania
Broker Info Score Best in
#1 Interactive Brokers International broker providing all asset classes 4.9 Best online broker
#2 XTB Global CFD and forex broker 4.7 Best CFD broker
#3 Trading 212 Global CFD and forex broker 4.3
#4 Zacks Trade US discount broker 4.4 Best broker for investing
#5 Fusion Markets Australian forex broker 4.6 Best discount forex broker

What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.

These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.

Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.

And now, let's see the best international online brokers in 2021 for citizens in Tanzania one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best international online brokers for citizens in Tanzania
Interactive Brokers

4.9

Interactive Brokers review summary

 

Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.

Our overall Interactive Brokers rating

Compare this broker to the best Interactive Brokers alternative here.

Recommended for traders looking for broad market access and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools Understaffed customer service

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#1 Interactive Brokers
Fees
4.5

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
Pros Cons
Low trading fees None
Free stock and ETF trading for US clients
Low margin rates
Interactive Brokers fees
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
US stock $1.0 $10.0 $0.0 $1.0 -
UK stock $4.2 $12.0 $0.0 $16.8 -
EURUSD benchmark fee $10.7 $8.5 $28.5 - $5.2
AUDUSD benchmark fee $8.6 $5.8 $16.0 - $4.4
GBPUSD benchmark fee $8.6 $5.8 $22.7 - $3.6
S&P 500 index CFD fee $2.8 $1.5 $4.1 - $0.0
Europe 50 index CFD fee $3.1 $1.9 $6.2 - $1.6

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#1 Interactive Brokers
Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types
Interactive Brokers minimum deposit and time to open an account
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Minimum deposit $0 $0 $1 $0 $0
Time to open account 1-3 days 1 day 1 day >3 days 1 day

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#1 Interactive Brokers
Deposit and withdrawal
3.0

Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal free each month
Interactive Brokers withdrawal fees and options
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $0

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#1 Interactive Brokers
Markets and products
5.0

At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
Interactive Brokers markets and products
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Stocks Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes No
Forex Yes Yes Yes No Yes
Funds Yes No No Yes No
Bonds Yes No No Yes No
Options Yes No No Yes No
Futures Yes No No No No
CFDs Yes Yes Yes No Yes
Crypto Yes Yes No No Yes

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#1 Interactive Brokers
Web trading platform
4.0

Interactive Brokers' web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
Pros Cons
User-friendly User experience could be better
Clear fee report
Two-step (safer) login
Best international online brokers for citizens in Tanzania - Interactive Brokers trading platform
Interactive Brokers trading platforms
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 4.4 stars - 3.0 stars 3.4 stars

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#1 Interactive Brokers
Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.

On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools

There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.5 stars
Recommended for Traders looking for broad market access and a professional trading environment

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XTB Logo

#2 Best international online brokers for citizens in Tanzania
XTB

4.7

XTB is a global CFD and forex 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 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. 74% 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

Pros Cons
Low forex fees High fees for stock CFDs
Free and fast deposit and withdrawal Product portfolio limited mostly to CFDs and FX
Easy and fast account opening Limited fundamental data

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74% of retail CFD accounts lose money

#2 XTB
Fees
3.8

XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
Pros Cons
Low forex fees High stock CFD fees
Free withdrawal for transfers above $100
XTB fees
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
US stock $1.0 $10.0 $0.0 $1.0 -
UK stock $4.2 $12.0 $0.0 $16.8 -
EURUSD benchmark fee $10.7 $8.5 $28.5 - $5.2
AUDUSD benchmark fee $8.6 $5.8 $16.0 - $4.4
GBPUSD benchmark fee $8.6 $5.8 $22.7 - $3.6
S&P 500 index CFD fee $2.8 $1.5 $4.1 - $0.0
Europe 50 index CFD fee $3.1 $1.9 $6.2 - $1.6

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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74% of retail CFD accounts lose money

#2 XTB
Account opening
5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
XTB minimum deposit and time to open an account
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Minimum deposit $0 $0 $1 $0 $0
Time to open account 1-3 days 1 day 1 day >3 days 1 day

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74% of retail CFD accounts lose money

#2 XTB
Deposit and withdrawal
4.5

XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Free withdrawal
No deposit fee
XTB withdrawal fees and options
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $0

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74% of retail CFD accounts lose money

#2 XTB
Markets and products
2.8

XTB's default selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.
XTB markets and products
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Stocks Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes No
Forex Yes Yes Yes No Yes
Funds Yes No No Yes No
Bonds Yes No No Yes No
Options Yes No No Yes No
Futures Yes No No No No
CFDs Yes Yes Yes No Yes
Crypto Yes Yes No No Yes

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74% of retail CFD accounts lose money

#2 XTB
Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Best international online brokers for citizens in Tanzania - XTB trading platform
XTB trading platforms
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 4.4 stars - 3.0 stars 3.4 stars

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74% of retail CFD accounts lose money

#2 XTB
Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec.
Fees score 3.8 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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74% of retail CFD accounts lose money

Trading 212 Logo

#3 Best international online brokers for citizens in Tanzania
Trading 212

4.3

Trading 212 review summary

 

Trading 212 is a global CFD and forex broker, but clients can also trade stocks and ETFs free of charge. The company was founded in 2004 and is now headquartered in London. Trading 212 is regulated by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). 

Trading 212 is considered safe as it is regulated by the top-tier FCA. 

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.

Our overall Trading 212 rating

Compare this broker to the best Trading 212 alternative here. 

Recommended for active cfd and fx traders and investors looking for intuitive trading platforms

Pros Cons
Real stocks and ETFs are commission-free Limited product portfolio
Quick and easy account opening Missing phone and live chat support
Great trading platforms High forex fee

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76% of retail CFD accounts lose money

#3 Trading 212
Fees
3.3

Trading 212 has commission-free stocks and ETFs, and there are also no fees for deposit, withdrawal or inactivity. However, fees for forex trading are high.
Pros Cons
Free stock and ETF trading High forex fees
Low CFD fees High financing rate
No withdrawal and inactivity fee
Trading 212 fees
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
US stock $1.0 $10.0 $0.0 $1.0 -
UK stock $4.2 $12.0 $0.0 $16.8 -
EURUSD benchmark fee $10.7 $8.5 $28.5 - $5.2
AUDUSD benchmark fee $8.6 $5.8 $16.0 - $4.4
GBPUSD benchmark fee $8.6 $5.8 $22.7 - $3.6
S&P 500 index CFD fee $2.8 $1.5 $4.1 - $0.0
Europe 50 index CFD fee $3.1 $1.9 $6.2 - $1.6

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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76% of retail CFD accounts lose money

#3 Trading 212
Account opening
4.5

The account opening process is straightforward, user-friendly and quick. Our account was verified within one business day.
Pros Cons
Fast Problems with verification
Fully digital
No minimum deposit
Trading 212 minimum deposit and time to open an account
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Minimum deposit $0 $0 $1 $0 $0
Time to open account 1-3 days 1 day 1 day >3 days 1 day

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76% of retail CFD accounts lose money

#3 Trading 212
Deposit and withdrawal
4.3

Trading 212 deposits and withdrawals are free, fast, and can be done in several way. On the negative side, there are only a few account base currencies available in each country.
Pros Cons
Credit/Debit card available Few base currencies available in each country
Free withdrawal
No deposit fee
Trading 212 withdrawal fees and options
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $0

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76% of retail CFD accounts lose money

#3 Trading 212
Markets and products
3.9

Trading 212 focuses mainly on CFDs and forex. You can also trade real stocks and ETFs, but popular asset classes like bonds, mutual funds, options and futures are missing.
Trading 212 markets and products
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Stocks Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes No
Forex Yes Yes Yes No Yes
Funds Yes No No Yes No
Bonds Yes No No Yes No
Options Yes No No Yes No
Futures Yes No No No No
CFDs Yes Yes Yes No Yes
Crypto Yes Yes No No Yes

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76% of retail CFD accounts lose money

#3 Trading 212
Web trading platform
4.9

Trading 212 has a user-friendly and customizable web trading platform. It also provides a two-step login.
Pros Cons
User-friendly None
Two-step (safer) login
Good search function
Best international online brokers for citizens in Tanzania - Trading 212 trading platform
Trading 212 trading platforms
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 4.4 stars - 3.0 stars 3.4 stars

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76% of retail CFD accounts lose money

#3 Trading 212
Verdict

Trading 212 works as a CFD and forex broker regulated by multiple financial supervisory authorities.

On the plus side, Trading 212 offers commission-free stocks and ETFs, while CFD fees and non-trading fees are low as well. The account opening process is seamless and the trading platforms are user-friendly.

However, Trading 212 has a limited product portfolio, lacking popular asset classes such as bonds or options. We missed phone and live chat support, and found forex fees relatively high.

So is Trading 212 good? Trading 212 is a good choice for those interested in investing in equities or trading leveraged forex and CFD products, with the use of a great trading platform. As it offers a demo account, don't hesitate to give it a try.

Trading 212
Summary Trading 212 is a CFD and forex broker regulated by the UK FCA and Bulgarian FSC. In the UK and Germany, Trading212 offers commission-free stock and ETF trading as well.
Fees score 3.3 stars
Recommended for Active CFD and FX traders and investors looking for intuitive trading platforms

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76% of retail CFD accounts lose money

Zacks Trade Logo

#4 Best international online brokers for citizens in Tanzania
Zacks Trade

4.4

Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.

LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.

If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:

  • Zacks Trade has its own, different fee structure, product selection, educational tools and customer support.
  • The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.

Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators. 

Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees

Pros Cons
Low fees Complex desktop platform and research tools
Extensive stock and ETF selection Slow and complicated account opening
Great customer service Limited educational tools

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#4 Zacks Trade
Fees
4.2

Zacks Trade has low trading and non-trading fees. Its stock, ETF and bond trading fees are especially low, while mutual fund fees are quite high.
Pros Cons
Low stock and ETF fees / Free stock trading High fund fees
No withdrawal fee
No inactivity fee
Zacks Trade fees
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
US stock $1.0 $10.0 $0.0 $1.0 -
UK stock $4.2 $12.0 $0.0 $16.8 -
EURUSD benchmark fee $10.7 $8.5 $28.5 - $5.2
AUDUSD benchmark fee $8.6 $5.8 $16.0 - $4.4
GBPUSD benchmark fee $8.6 $5.8 $22.7 - $3.6
S&P 500 index CFD fee $2.8 $1.5 $4.1 - $0.0
Europe 50 index CFD fee $3.1 $1.9 $6.2 - $1.6

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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#4 Zacks Trade
Account opening
2.8

Zacks Trade has a fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
Pros Cons
Fully digital Slow
No minimum deposit Not user-friendly
Zacks Trade minimum deposit and time to open an account
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Minimum deposit $0 $0 $1 $0 $0
Time to open account 1-3 days 1 day 1 day >3 days 1 day

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#4 Zacks Trade
Deposit and withdrawal
3.5

Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
Zacks Trade withdrawal fees and options
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $0

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#4 Zacks Trade
Markets and products
3.8

Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker, as well as US funds and options. However, you cannot trade futures or forex.
Zacks Trade markets and products
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Stocks Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes No
Forex Yes Yes Yes No Yes
Funds Yes No No Yes No
Bonds Yes No No Yes No
Options Yes No No Yes No
Futures Yes No No No No
CFDs Yes Yes Yes No Yes
Crypto Yes Yes No No Yes

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#4 Zacks Trade
Web trading platform
4.5

The Zacks Trade web platform is simple and easy to use even for beginners.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Best international online brokers for citizens in Tanzania - Zacks Trade trading platform
Zacks Trade trading platforms
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 4.4 stars - 3.0 stars 3.4 stars

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#4 Zacks Trade
Verdict

Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA.

On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.

There are some drawbacks though, as its desktop trading platform and research tools are quite complex. The account opening is complicated and slow. Lastly, we missed some useful educational tools.

As Zacks Trade provides a demo account and doesn't require any minimum deposit, feel free to try it.

Zacks Trade
Summary Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash).
Fees score 4.2 stars
Recommended for Traders and investors looking for comprehensive research tools, a wide product selection and low fees

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Fusion Markets Logo

#5 Best international online brokers for citizens in Tanzania
Fusion Markets

4.6

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.

Recommended for forex traders looking for low fees and a chance to use the metatrader 4 platform

Pros Cons
Low trading and non-trading fees Basic educational tools
Fast and easy account opening Limited product selection
Great customer service No investor protection

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Fees
4.9

Fusion Markets has low forex and CFD fees and charges no inactivity or withdrawal fees.
Pros Cons
Low non-trading fees None
Low forex fees
No withdrawal or inactivity fees
Fusion Markets fees
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
US stock $1.0 $10.0 $0.0 $1.0 -
UK stock $4.2 $12.0 $0.0 $16.8 -
EURUSD benchmark fee $10.7 $8.5 $28.5 - $5.2
AUDUSD benchmark fee $8.6 $5.8 $16.0 - $4.4
GBPUSD benchmark fee $8.6 $5.8 $22.7 - $3.6
S&P 500 index CFD fee $2.8 $1.5 $4.1 - $0.0
Europe 50 index CFD fee $3.1 $1.9 $6.2 - $1.6

The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Account opening
5.0

Account opening at Fusion Markets is user-friendly and fully digital. It is also very fast, as our test account was verified the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
Fusion Markets minimum deposit and time to open an account
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Minimum deposit $0 $0 $1 $0 $0
Time to open account 1-3 days 1 day 1 day >3 days 1 day

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Deposit and withdrawal
4.3

At Fusion Markets, most withdrawals are free, and you can use bank transfer, credit/debit cards and electronic wallets to add money. However, you can't open an account in minor currencies.
Pros Cons
Credit/Debit card available No minor account currencies accepted
Free withdrawal
No deposit fee
Fusion Markets withdrawal fees and options
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $0 $0 $0

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Markets and products
1.9

Fusion Markets gives access to many currency pairs and some CFDs. On the other hand, it lacks a lot of popular asset classes, such as real stocks, ETFs and funds.
Fusion Markets markets and products
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Stocks Yes Yes Yes Yes No
ETFs Yes Yes Yes Yes No
Forex Yes Yes Yes No Yes
Funds Yes No No Yes No
Bonds Yes No No Yes No
Options Yes No No Yes No
Futures Yes No No No No
CFDs Yes Yes Yes No Yes
Crypto Yes Yes No No Yes

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Web trading platform
2.8

The web trading platform of Fusion Markets (provided by MetaTrader) is highly customizable and has a clear fee report. On the other hand, its design is outdated and it lacks a two-step login and price alerts.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Best international online brokers for citizens in Tanzania - Fusion Markets trading platform
Fusion Markets trading platforms
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 4.4 stars - 3.0 stars 3.4 stars

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74-89% of retail CFD accounts lose money

#5 Fusion Markets
Verdict

Fusion Markets is a great forex broker with very low fees. 

It offers low trading and non-trading fees. Account opening is fast and easy, and customer service provides quick and relevant answers.

On the negative side, Fusion Markets has limited educational tools. The product offering covers only forex and some CFDs. Lastly, there is no investor protection provided.

As you can open an account within a day and fees are low, feel free to try Fusion Markets.

Fusion Markets
Summary Fusion Markets is an Australia-based discount forex broker, regulated by the ASIC and VFSC.
Fees score 4.9 stars
Recommended for Forex traders looking for low fees and a chance to use the MetaTrader 4 platform

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74-89% of retail CFD accounts lose money

Best international online brokers for citizens in Tanzania
What makes a good online broker

Now that you know the top 5, you are probably curious how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?

What is an online broker?

Thirty years ago, if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.

Are these brokers safe?

We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.

However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.

If all goes wrong, and for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best online brokers?

At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.

5 most important criteria for the best online brokers in 2021
1. Fees The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees.
2. Account opening Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers.
3. Deposit and withdrawal At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others.
5. Trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
4. Markets and products You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account.

Best international online brokers for citizens in Tanzania
Bottom line

These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in Tanzania:

Best international online brokers for citizens in Tanzania
Interactive Brokers XTB Trading 212 Zacks Trade Fusion Markets
Overall score 4.9 4.7 4.3 4.4 4.6
Best in Best online broker Best CFD broker Best broker for investing Best discount forex broker
Fees score 4.5 stars 3.8 stars 3.3 stars 4.2 stars 4.9 stars
Account opening score 3.4 stars 5.0 stars 4.5 stars 2.8 stars 5.0 stars
Deposit and withdrawal score 3.0 stars 4.5 stars 4.3 stars 3.5 stars 4.3 stars
Markets and products score 5.0 stars 2.8 stars 3.9 stars 3.8 stars 1.9 stars
Web platform score 4.0 stars 4.4 stars 4.9 stars 4.5 stars 2.8 stars
Mobile platform score 3.5 stars 4.4 stars 4.9 stars 3.8 stars 3.8 stars
Visit broker Visit broker
74% of retail CFD accounts lose money
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76% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money

Interactive Brokers is our winner, the best international online broker in Tanzania for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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Visit broker
74% of retail CFD accounts lose money
Visit broker
76% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
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