Best forex brokers in Zimbabwe

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US4.99/5$50Click for a special offerWebsite

After the turmoil period of hyperinflation, when the Zimbabwean dollar was in practice demonetized and replaced by, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar back in 2015, in January 2019 the finance ministry in Harare announced that a local currency will be reintroduced in the next 12 months.

The financial markets in Zimbabwe are governed by two institutions – the Reserve Bank of Zimbabwe (RBZ), which looks after the monetary policy and the financial stability in the country as well as the banking sector, and the Securities and Exchange Commission of Zimbabwe (SECZ), which regulates all securities exchanges, securities dealers, custodians, investment advisers, asset managers, collective investment schemes and trustees.

As forex and CFD brokers are not mentioned specifically, and retail forex trading is not deemed illegal, if you reside in Zimbabwe and want to trade the forex market your best option is to open an account with a licensed broker, authorized by a well respected institution such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

As far as the payment methods available are concerned, you can surely use your VISA and MasterCard, as well as local payment systems including EcoCash, ZimSwitch and Paynow.