Forex Trading in Zimbabwe

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2019 marked the end of the multiple currency system in Zimbabwe. The country reintroduced its native dollar with a new system to avoid the hyperinflation of the past. Moving forward from 2020, the Reserve Bank of Zimbabwe adopted a managed float exchange rate system. Although the currency still faces fluctuation, it is nothing like the 500 billion percent inflation rate pre-2016.

Forex Trading in Zimbabwe

Attribution: Inside Business

Retail forex traders in Zimbabwe have a refreshed opportunity to participate in the global financial markets. The Securities and Exchange Commission of Zimbabwe (SECZ) says very little of regulation in the retail trader space, but Zimbabwean investors can still take advantage of brokers regulated through neighbor entities.

Get Started with Forex in Zimbabwe

The international forex market can be a great opportunity for Zimbabweans looking to stabilize and grow their financial portfolios. As with any kind of investing, a certain amount of skill is a must — no profit is guaranteed. The lack of government oversight forces successful traders to be much more diligent in protecting their investment.

Getting started with forex in Zimbabwe means setting yourself up for success. Here are the steps to follow:

  1. Get a good Internet connection. Forex trading is often based on timing, and it’s definitely an advantage to have real time updates to news and financial charts. You need a strong Internet connection to receive this information and execute trades in a timely fashion.
  2. Choose your broker. Regulated international brokers service the Zimbabwe market through the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Commission of the Republic of Mauritius (FSC), the Financial Conduct Services of the Republic of South Africa (FSP), the Financial Conduct Authority of the United Kingdom (FCA), the Dubai Financial Services Authority (DSA) and the Seychelles Financial Services Authority (FSA).
  3. Open an account to invest. Once you choose a regulated broker, that broker will have instructions for you to connect your bank account and verify who you are.
  4. Secure funding. You may need to trade Zimbabwe dollars into another currency as your base depending on the broker you choose. Fund your account through a bank account or a debit or credit card.
  5. Choose your trading interface. You need a familiar trading interface to minimize input errors and optimize your timing. Your broker may have a proprietary interface, but if not, test 3rd party trading apps until you find 1 you are comfortable with
  6. Trade. Now that your trading infrastructure is ready, you can immediately begin trading.

Zimbabwe Forex Trading Strategies

The traders who trade forex successfully have a working knowledge of major strategies. Here are a few of the most important strategies you need to know:


Scalping is for traders who like quick entries and exits. Scalpers don’t give the market any time to move against them — they usually take the 1st opportunity to profit from a trade. The individual profits are usually smaller, but the risk associated with time in the market gets reduced.

If you want to be a serious short-term trader, you may need to inform yourself about automated software that some investors use to increase the frequency and accuracy of trades. Because these trades may last for only seconds, they must be incredibly precise.

Swing Trading

Swing trading is a precise art like scalping, but it’s not as fast. The “swing” refers to changes in price that form swing shapes on forex charts. Swing traders learn ranges (movements up and down between 2 price levels) and trends (directional moves) and use the mantra “buy low, sell high” to profit.

Swing traders are known as mid-term traders because of the length of time they hold trades. You may only hold a trade for an hour or you may hold it for a few weeks.

Position Trading

A position trader likes to understand the underlying macroeconomic conditions behind currency price movements. Profit taking in position trading may occur in a few weeks or it might take a few years. The profits are usually bigger than with scalping or swing trading because the corrections have more time to take place.

Short-term moves should not bother you if you choose to be a position trader. 

Forex Trading Example in Zimbabwe

Z$/USD is trading at 0.003105/0.003305. You think that the price will go up in the near future and you are looking to buy Z$500,000. The margin rate of this currency pair is 7.89%, so you will need a total of $126.44 cash actually in your account to control a Z$500,000 investment. Trading on margin means that your broker will lend you the rest of the money to make the full investment.

The Z$/USD price moves up and is trading at 0.003705/0.003905 after 3 hours. The value went up by 4 points and you made (Z$500,000*0.003705) – (Z$500,000*0.003305) or $200 on the trade.

Make Money with Forex in Zimbabwe

The forex market gives you many ways to profit. Here are a few of the most important you should know about:

  • Short selling: you don’t have to wait for a currency to increase in price to make money in forex. Short selling involves profiting from a downward movement in a currency’s value.
  • CFDs: Contract for differences (CFDs) track currency prices. You don’t buy or sell the currency itself, but you make or lose money based on the price of the underlying asset.
  • Binary options: The binary option gives you a simple win or lose scenario. If you pick the right direction of an investment, you take home money. If the direction is wrong, you lose a large percentage of the investment.

Best Online Forex Brokers in Zimbabwe

You have many choices of forex brokers in Zimbabwe. Here are some that you may want to consider:

get started securely through’s website
Account Minimum
Pairs Offered
1 Minute Review is a one-stop shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While is impressive, remember that it isn’t a standard broker.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
  • Cannot buy and sell other securities (like stocks and bonds)
Get started securely through AvaTrade’s website
Account Minimum
100 EURO
Pairs Offered
1 Minute Review

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.

Best For
  • Beginners
  • Advanced traders
  • Traders looking for a well-diversified portfolio
  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available for trying out
  • Breadth of trading assets
  • Does not accept customers from the U.S. as it isn’t regulated in the U.S.
  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days
get started securely through eToro’s website
Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Account Minimum
$50 USD
Pairs Offered
1 Minute Review

Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. U.S. traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens).

eToro offers traders the opportunity to invest their assets into premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Though eToro isn’t a one-stop-shop for everything an investor needs, its easy-to-use platform and low spreads is a great way to enter the cryptocurrency market.

Best For
  • International Forex/CFD Traders
  • New cryptocurrency traders looking for an easy-to-use platform
  • Traders who want to buy and sell cryptocurrencies on-the-go
  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades
  • U.S. traders currently limited to cryptocurrencies
  • Only 15 major coins available to trade

Forex Terminology

If you want to understand the forex market, you’ll need to understand the basic terminology. You will hear these terms often:

  • Pip: the smallest forex unit, also known as a basis unit, equal to $0.0001.
  • Lot size: the size of currency that is traded. The default lot size is 100,000 currency units.
  • Orders: your orders to buy and sell a certain amount of currency at a certain rate are how you interact with your trading platform.
  • Calls: a contract that gives you an exclusive right to control a certain amount of currency until a certain date.

Stabilize Your Personal Economy

The forex market gives each investor the ability to optimize financial value regardless of the domestic economy. It’s not easy, but many people use the access to foreign currencies to stabilize their personal economies.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with