Compare forex brokers for traders in Malawi

By the Rateweb editorial team · How we rate · Product details checked 2 Aug 2026

Compare forex and CFD brokers that accept traders in Malawi on spreads, leverage, funding methods and regulation. Check which regulated entity onboards local clients — trading forex and CFDs carries a high risk of loss.

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FXTM (ForexTime)

Malawi has no retail forex broker licensing regime, so a Malawian account would sit with Exinity Limited under a Mauritius FSC licence. FXTM's published exclusion list does not name Malawi, but nothing about the arrangement is supervised from Lilongwe.
★★★★☆
3.7/5 · How we rate
Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Malawian licence exists or is possible.
Regulator (Local Clients)
Not verified, and MWK funding is unlikely - assume you will need a card or e-wallet in a major currency.
Local Currency Support
Web and mobile trading platforms; the exact list was not read during this research.
Platforms
Malawians who accept they are dealing entirely offshore and want the covering entity stated plainly.
Best For
forex
Type
Pros
  • The covering entity and its Mauritius licence number are published and can be checked against the FSC register.
  • The group holds an FSCA licence in South Africa, an African regulator's authorisation rather than purely offshore paperwork.
  • Malawi is not on FXTM's published list of jurisdictions it refuses to serve.
Cons
  • Most retail investors lose money trading leveraged CFDs, and this risk does not fall because the broker is well known.
  • A Mauritius FSC licence gives a Malawian client limited protection, no compensation scheme and no ombudsman.
  • The Reserve Bank of Malawi does not license retail forex brokers, and Malawi's exchange-control rules make moving money offshore to fund a trading account genuinely difficult - check with your bank first.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare account types on FXTM's own site.
Funding and conversion costsNot verified; for a Malawian client the cost of getting kwacha out and back is likely to dwarf trading costs.
Eligibility
  • Aged 18 or over and resident in a country Exinity Limited serves - Malawi is not on its published exclusion list.
  • Able to complete identity and address verification.
  • Able to obtain foreign exchange and fund an offshore account within Malawi's exchange-control rules.
Documents needed
  • Government-issued photo ID (passport or national ID)
  • Recent proof of address
  • Proof of ownership of the funding method, if requested
Visit FXTM Full details & review →

Tickmill

Tickmill Ltd under the Seychelles Financial Services Authority is the entity that would take a Malawian client. The group's FCA and CySEC licences apply to other entities, and no Malawian regulator supervises retail forex at all.
★★★★☆
3.7/5 · How we rate
Tickmill Ltd, Financial Services Authority of Seychelles (SD008). FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) entities do not cover Malawian clients.
Regulator (Local Clients)
Not verified, and MWK funding is unlikely - assume a card or e-wallet in a major currency.
Local Currency Support
Margin trading on the group's platforms; the exact list was not read during this research.
Platforms
Traders who want the licence structure made explicit before committing money offshore.
Best For
forex
Type
Pros
  • The group publishes each entity and licence number, so the offshore reality is visible rather than hidden.
  • Malawi is not among the jurisdictions Tickmill says its services are not directed at.
  • A tier-one authorisation exists somewhere in the group, which is a meaningful signal about the operator even though it does not cover you.
Cons
  • Most retail investors lose money trading leveraged products, and Tickmill's own warning is that losses can exceed your initial investment.
  • Seychelles FSA regulation offers limited protection and no compensation scheme to a Malawian client.
  • No Malawian authority licenses or supervises retail forex broking, so there is no domestic route to complain, and exchange control makes funding and repatriating money awkward.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare account types on Tickmill's own site.
Funding and conversion costsNot verified; getting kwacha offshore and back is likely to be the dominant cost.
Eligibility
  • Aged 18 or over and not resident in Singapore, the United States, Iran, India or Japan.
  • Able to pass identity and address verification.
  • Able to fund an offshore account within Malawi's exchange-control rules.
Documents needed
  • Government-issued photo ID
  • Recent proof of address
  • Payment-method verification where requested
Visit Tickmill Full details & review →

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