5 Best Trading Platforms in Ethiopia for 2024

In this guide, our experts have rated the 5 best online brokers in Ethiopia to buy, sell and trade stocks for beginners.
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Updated on Sep 11, 2024
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The Invezz team of expert traders, data analysts, and platform reviewers frequently test the best trading platforms & online brokers.

Based on these tests, along with our experience of using each platform, we rank the top online brokers in Ethiopia according to their affordability, security, and available international markets.

Once we came up with a preliminary list, we surveyed our Ethiopian users to gather their thoughts and feedback on each of the top trading apps in Ethiopia.

Armed with that information we created a final ranking to answer the question: what are the best online brokers in Ethiopia for Ethiopian users?

What is the best stock trading app in Ethiopia?

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Our rankings reveal that the best online broker in Ethiopia is AvaTrade .

Having assessed 100+ brokers, this list represents the three services that top our rankings as the overall best online trading platforms in Ethiopia. 

We found 7 online brokers for users based in

AvaTrade review
4.3
AvaTrade
Min. Deposit $100
Fees From 0.13%
No. assets 500+
Demo account Yes

AvaTrade review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.
Exness review
4.4
Exness
Min. Deposit $10
Fees From $0.2 per lot
No. assets 250+
Demo account Yes

Exness review

Exness does not offer services to residents of certain jurisdictions including the USA, Iran, North Korea and others. The content of the website including translations should not be construed as means for solicitation. Investors make their own and independent decisions. Trading in CFDs and generally leveraged products involves substantial risk of loss and you may lose all of your invested capital.
Best trading platforms in Ethiopia
Min. Deposit n/a
Fees
No. assets n/a
Demo account

Top 5 online brokers in Ethiopia, reviewed & compared

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We found 7 online brokers for users based in

1. AvaTrade. Best regulated broker for secure trading

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Avatrade_logo
4
Ratings

$100

Min. deposit

From 0.13%

Fees

500

No. assets

Yes

Demo account

Overview

We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various stock markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs on hundreds of global stocks including Google, Apple, Microsoft, and more. 

AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world. 

AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology. 

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Fees & Costs

Pros & Cons

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. Exness. Best for tight spreads and a pro-style trading experience.

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4
Ratings

$10

Min. deposit

From $0.2 per lot

Fees

300

No. assets

Yes

Demo account

Overview

We love Exness because of its tight spreads, which make it a top choice for traders looking to minimize trading costs and maximize profitability. The brokerage offers some of the most competitive spreads in the industry, especially on markets like stocks. Excess offers 80+ stocks via CFDs from some of the worlds largest companies.

Its focus on low trading costs is ideal for both newbies and experienced traders looking to trade with minimal overheads. Exness also stands out for its range of trading terminals. It offers MetaTrader 4, MetaTrader 5, and the Exness web terminal. There’s also a dedicated mobile app meaning you’ll be able to always access your account. 

Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the hundreds of pre built indicators available on the MetaTrader suite. 

The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 0.3 pips on stocks. Overnight fees apply on some assets (exc. swap-free accounts).

Highlights

Fees & Costs

Pros & Cons

Exness does not offer services to residents of certain jurisdictions including the USA, Iran, North Korea and others. The content of the website including translations should not be construed as means for solicitation. Investors make their own and independent decisions. Trading in CFDs and generally leveraged products involves substantial risk of loss and you may lose all of your invested capital.

3. Pacific Union. Best for social trading & customer support

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pacific union logo
4
Ratings

$-

Min. deposit

Fees

No. assets

No

Demo account

Overview

We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 200 stock CFDs for some of the world’s biggest companies.  

It’s an award-winning broker and has a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.

The fees: Commission starting at 0.1 points is charged on select stock CFDs across all account types. Spread starts at 0.5 points and applies to all stocks. Swap charges for holding a trade overnight vary depending on size.  

Highlights

Pros & Cons

Contracts for Difference (CFDs) trading carries a high level of risk to your capital and can result in losses, you should only trade with money you can afford to lose. CFDs trading may not be suitable for all investors, please ensure that you fully understand the risks involved and take appropriate measures to manage it.

How we chose the best online trading platform in Ethiopia

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Our reviewing panel is made up of industry experts, including our Director Michael Charalambous, Editor of News, Harsh Vardhan, Editor of Education, James Knight, and long-time trader and Platform Reviewer, Prash Raval. The panel also includes an independent fact checker, Richard Stutely.

We work with many financial experts across the world, and we tap into their expertise to give us an insight into the particular trading environment of each country, and what’s important to users in Ethiopia compared to everywhere else.

All that breaks down into a list of criteria that we use to form a final ranking.

Here are the key factors that played into our final ranking of the best stock brokers in Ethiopia.

  • Fees. We prioritised Ethiopian brokers that offer commission-free trading, charge low trading fees, don’t charge deposit or withdrawal fees, and don’t charge any hidden fees.
  • Device availability. An online trading platform that is available across all devices as a mobile app deserves a boost. In a mobile world, you need the best stock trading app in Ethiopia to work across mobile, tablet, and desktop. 
  • Platform security. All services we recommend are regulated by respected financial institutions and provide investor protection in the event that anything goes wrong.
  • Free demo accounts. All the best stockbrokers in Ethiopia should offer the chance to test their service before you pay for it. We gave the brokers with the best demo accounts a boost in our rankings.
  • Access to global markets. International stock brokers in Ethiopia that allow you to invest in global markets, particularly popular ones like the United States, scored well in our reviews.
  • Trading and analysis tools. An online stock broker that offers analysis tools makes it easier to do all your research and trading in one place. Any online broker that offered this convenience scored well.
  • Third-party integrations. You might want to use a piece of downloadable, third-party software like MetaTrader 4, MT5, or cTrader to place your trades. The best trading software in Ethiopia should integrate with these services and those that did so received a higher ranking. 
  • Customer reviews. Finally, we looked into customer reviews, to make sure that we only recommend the best investment platforms in Ethiopia where the majority of Ethiopian customers had a positive experience.

Find out more about how we rate, rank, and review platforms.

More about stock trading platforms in Ethiopia

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What products can I trade with a Ethiopian stock broker?

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For most people, the key question is whether you can trade stocks from other countries, as well as Ethiopia. The answer is yes, with some caveats.

Most of the brokers we recommend are global platforms, that offer stocks from around the world (particularly the US market, which is by far the most popular and – in our experience – what you’re likely to be interested in!).

However, there can be limitations. For example, you might have to make deposits in US Dollars in order to trade those stocks or to use the platform, and that’s not always an option. Your broker might offer currency conversion services, but they can be expensive.

In general though, you certainly can trade global stocks through a Ethiopian stock broker. And you often aren’t limited to stocks, there are other options as well – including things like ETFs, which are super simple to buy.

Stocks

  • Ethiopian stocks. One investment option is to simply buy and sell stocks that are listed in Ethiopia. Investing in the Ethiopian market is normally the most straightforward option for Ethiopian residents, as you can buy shares in any company that’s listed on a Ethiopian stock exchange.
  • US stocks. Some of the best known companies in the world are listed in the United States. The best online broker in Ethiopia will also let you invest in stocks that are listed on the NYSE or the NASDAQ exchange in the US, but it depends on the legal restrictions in Ethiopia.
  • International stocks. You may also be able to buy shares in companies that are based in the rest of the world. The best international brokers in Ethiopia offer global stocks, but it may be a limited selection. If you want to buy equities from outside Ethiopia or the US, be sure to check those stocks are available through your online broker before you sign up.

ETFs

ETFs (exchange traded funds) are investment funds that pool money together from lots of different investors and use it to track a particular index, like the S&P 500.

This kind of investing has exploded over the last decade. The largest ETF in the world, which invests in the S&P 500 – the famous US index that contains companies like Apple, Tesla, and Alphabet – holds more than half a billion dollars worth of investor money on its own.

If you’ve ever used a round-up investment app like Acorns or Moneybox, they are almost certainly investing in ETFs on your behalf. Many pension schemes use them now as well. This is for two main reasons: they’re simple to use, and they’re cheap.

Even if you can’t invest in every stock from every country, you can usually find an alternative in an ETF that tracks the performance of Ethiopia’s top stock exchanges and indexes. 

Mutual funds

Mutual funds are professionally managed investments. You buy shares in the fund through an investment platform and the manager decides what to invest it in. Typically, a fund manager chooses a mixture of global stocks, local Ethiopian stocks, and ETFs that track global indices from across the world.

Mutual funds and ETFs are similar, but the former are managed by a professional who tries to beat the market, while the latter buy and sell stocks automatically based on a set of fixed criteria. Typically a mutual fund charges higher management fees every year because of the extra work involved. The best stock broker in Ethiopia should allow you to invest in stocks from Ethiopia, as well as ETFs and mutual funds.

Futures and options

Futures and options contracts involve making an agreement to purchase a stock in the future at an agreed price. They’re favoured by stock traders and can be used as a way of speculating on how you think a company’s price might change in the future.

Other assets

Most trading platforms in Ethiopia offer a variety of assets alongside stocks, funds, and ETFs. With the best Ethiopian brokers you can create a diversified portfolio made up of leading global stocks, ETFs, cryptocurrencies, and dabble with trading currency pairs and commodities as well.

Compare the assets available with each of the top Ethiopian brokers below.

Product AvaTrade assets Exness assets
Stock CFDs 612
ETF CFDs 61
Forex CFDs 108
Crypto CFDs 20
Index CFDs 31
Commodity CFDs 19
View more > AvaTrade > Exness >

You should keep in mind, however, that to invest in other financial products from Ethiopia, you may be better off using a different type of trading platform.

For example, for trading currency pairs you want one of the best forex brokers in Ethiopia, for cryptocurrencies like Bitcoin, the best crypto exchanges in Ethiopia. The best crypto exchanges in Ethiopia offer a range of financial assets, including many of the options above.

How much does it cost to use the best online trading platforms in Ethiopia?

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It is normally free to sign up to a stock trading platform in Ethiopia.

The main cost comes in the form of trading fees, which depend on the platform and on what you want to trade. Some of the best stock trading apps in Ethiopia offer completely free trading, while others charge a flat fee or commission per trade.

On average, this usually adds up to about 1-2% of your total trade value.

Here’s a comparison of the trading fees across our highest rated Ethiopian brokers.

Asset AvaTrade fees Exness fees
Stock CFDs From 0.13%
ETF CFDs From 0.13%
Forex CFDs From 0.9 pips
Crypto CFDs From 0.15% over market
Index CFDs From 0.03 over market
Commodity CFDs From 0.0015 over market
View more > AvaTrade > Exness >

Another way an online broker in Ethiopia might charge you is via the spread. The spread is the difference between the buy and sell price of an asset, and effectively serves as a commission the broker is charging you on top of the market price. The smaller the spread, the better value you’re getting from your broker.

Here’s a comparison of the spreads across the top Ethiopian trading platforms.

Product AvaTrade spreads Exness spreads
Stock CFDs From 0.13%
ETF CFDs From 0.13%
Forex CFDs From 0.9 pips
Crypto CFDs From 0.15% over market
Index CFDs From 0.03 over market
Commodity CFDs From $0.0015 over market
View all tradable assets > AvaTrade > Exness >

On top of the trading fees and spreads, there may be other charges for using your online broker account.

These can include inactivity fees, where you’re charged if you don’t use your account for a period of time (usually 3-6 months), as well as overnight fees, which only apply if the broker is also a CFD platform, or even an account maintenance fee.

Here’s a look at the types of fees different brokers in Ethiopia charge, to give you a complete picture of the cost of trading with the top brokers in Ethiopia.

Fee AvaTrade fees Exness fees
Trading fees No Standard accounts: no Professional accounts: yes
Inactivity fees Yes No
Rollover/overnight fees Yes Standard accounts: Yes, on some assets Islamic accounts: no
Withdrawal fees No No
Spreads Yes Yes
Conversion fees No No
View more > AvaTrade > Exness >

Are stock brokers in Ethiopia regulated?

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Yes, online brokers have to be regulated in order to offer share dealing services. Ideally, you want to find a broker that offers top-tier regulatory protection either through your local regulator, or through another internationally recognised institution. 

The best brokers in Ethiopia are regulated by the National Bank of Ethiopia (NBE), which provides a license for these firms to operate and governs their actions in order to protect investors.

Use the National Bank of Ethiopia (NBE) database to check if your favourite online broker is regulated to operate in Ethiopia (each company has a registration number, and you can search this to find out if it’s got a license).

On top of that, many online brokers in Ethiopia are based elsewhere but regulated to operate internationally through institutions such as CySEC (the Cyprus Securities and Exchange Commission). Here are the best online brokers in Ethiopia and where they’re regulated across the world.

Region AvaTrade regulators Exness regulators
Africa FSCA FSCA
Asia FSA
Australasia ASIC
Europe CBI, MiFID, CySEC FCA, CySEC
International BVIFSC, FRSA
North America FSA, BVIFSC
South America
View more > AvaTrade > Exness >

How much money do I need to start using an online broker in Ethiopia?

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Typically, the minimum deposit for each Ethiopian broker is the equivalent of $10. This is a manageable amount for most users, though you probably want to start with a larger amount of money, or a plan to add more over time.

You don’t need a lot of money to start, but you do need to invest a reasonable amount of money to generate substantial returns. A great way to do this is to invest a fixed amount at regular intervals, a concept known as Dollar-Cost Averaging.

This means that you don’t need a lot of money to start with and the amount you invest can be adjusted depending on your circumstances.

You should also consider the minimum trade size on each platform. This governs the smallest investment you can make, so if you plan to invest small amounts then it is a crucial number to think about.

Compare the minimum and maximum trade sizes for each top broker in Ethiopia right here.

Product AvaTrade minimum trade Exness minimum trade
Stock CFDs No limit
ETF CFDs No limit
Forex CFDs No limit
Crypto CFDs No limit
Index CFDs No limit
Commodity CFDs No limit
View more > AvaTrade > Exness >

Which trading app in Ethiopia has the best user reviews?

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As part of our research process we gathered up reviews and feedback from Ethiopian users to help us finalise the rankings. Below is a summary of the feedback and ratings we received about each platform.

Review source AvaTrade rating Exness rating
Trustpilot 4.7
Google Play Store 4.0
App Store 4.4
View more > AvaTrade > Exness >

How to buy stocks in Ethiopia

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Every stock trading app in Ethiopia is designed to help you invest with the minimum of fuss. 

Follow this six step guide to learn how to buy shares online in Ethiopia for the first time.

1. Find a Ethiopian trading app

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Compare the best online stock brokers in Ethiopia and choose your favourite from the list at the top of this page.

2. Create an account

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Once you’ve chosen the best broker Ethiopia, set up an account by supplying your email address and password. Fill in personal details like your name and address.

3. Verify the broker account

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Before you use an online trading platform in Ethiopia you need to verify your identity. Upload a copy of your driving licence or passport to do this. The verification process can take up to 24 hours, but is often much quicker than that.

4. Deposit money into your trading account

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You can make your initial deposit via a card payment, bank transfer, or an alternative payment method. Many of the best online brokers in Ethiopia accept PayPal and similar e-wallets, but you should check this ahead of time.

5. Search for a stock and place your trade

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Find the stocks you want to trade using their ticker symbol. Enter the details of your trade, and hit ‘buy’ to execute it.

6. Monitor your investment

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Check up on your investment regularly. Use the latest news and stock market research to help you decide when to sell your shares, and lock in a profit or loss.

FAQs

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01

What’s the best broker for beginners in Ethiopia?

02

What’s the best investment platform in Ethiopia?

03

What’s the cheapest online broker Ethiopia with the lowest fees?

04

Which trading app is best in Ethiopia?

05

Which investment platform in Ethiopia has the best demo account?

06

What’s the safest broker in Ethiopia?

07

Is it legal to trade stocks in Ethiopia?


Sources & references

Prash Raval

Prash Raval

Financial Writer

  • Forex
  • Trading
  • Stocks
  • Investing
  • Football
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while running an educational service helping novice traders learn the markets. He has a keen interest in micro and small cap stocks....