Forex & CFD Risk Warning — Botswana Traders
Retail Forex and CFD brokers reviewed on this site onboard Botswana residents through international offshore entities that are not licensed by NBFIRA (nbfira.org.bw) or supervised by the Bank of Botswana (bankofbotswana.bw). While Botswana abolished foreign exchange controls in February 1999, trading with offshore brokers means you are not covered by Botswana statutory investor protection. Only trade with risk capital you can afford to lose.
Upcomers — The Modern Prop Firm for Botswana's Next Generation of Traders
Upcomers is a new-generation proprietary trading firm built with the modern retail trader in mind. Where older prop firms present complex dashboards, layered rule structures, and opaque account management systems, Upcomers has invested in a clean, intuitive user experience that removes friction from the challenge process.
For Botswana traders — particularly those attempting their first funded trader evaluation — this accessibility is a significant advantage. The simplified rule set (8%/5% two-phase model with standard 10% max drawdown and 5% daily drawdown) aligns with industry norms while eliminating unnecessary complexity. Account sizes range from $5,000 to $200,000 with bi-weekly USDT and bank wire payouts.
Upcomers offers a discount code (ttai1310) for Botswana traders through our affiliate partnership, reducing challenge fees at checkout. This makes the $5K and $10K entry accounts even more accessible for traders testing the prop firm model for the first time.
Start Your Upcomers Challenge — Use Code ttai1310
Simplified rules, modern platform, bi-weekly USDT payouts. Use code ttai1310 at checkout for an exclusive discount on your challenge fee.
Affiliate Disclosure: We may receive compensation if you register via this partner link, at no extra cost to you. Trading leveraged derivatives carries a high risk of capital loss.
Discount Code & Registration from Botswana
Exclusive Discount Code for Botswana Traders
- Visit Upcomers via our affiliate link — the code ttai1310 is pre-applied for you.
- Register with email and password. No identity verification required at registration.
- Select account size ($5K–$200K) and the 2-phase evaluation model.
- Enter promo code ttai1310 in the discount field at checkout.
- Pay via Visa/Mastercard or USDT (TRC-20). Receive MT5 credentials within 24 hours.
Upcomers Challenge Rules — Simple & Clear
| Parameter | Phase 1 | Phase 2 | Funded Account |
|---|---|---|---|
| Profit Target | 8% | 5% | No target |
| Max Drawdown | 10% (static) | 10% (static) | 10% (static) |
| Daily Drawdown | 5% | 5% | 5% |
| Min Trading Days | 5 days | 5 days | None |
| Time Limit | Unlimited | Unlimited | Unlimited |
| Profit Split | — | — | Up to 90% |
The 8% Phase 1 target (compared to 10% at FundedNext and AquaFunded) is one of the lower targets in this comparison — making Phase 1 faster to complete at the same risk level. The unlimited time limit and 5-day minimum are beginner-friendly. Static drawdown calculation prevents compounding drawdown risk.
Is Upcomers Legal in Botswana?
Upcomers is an international prop firm accessible to Botswana traders. The challenge fee is an international service payment. There is no NBFIRA or Bank of Botswana regulation specifically prohibiting Botswana participation in international funded trader evaluations. Payout income is foreign earnings subject to BURS declaration. Learn more about the general regulatory framework for prop trading in Botswana.
Regulatory Disclaimer
Is Upcomers Safe for Botswana Traders?
Upcomers supports swap-free account conditions on request, eliminating overnight rollover fees (riba). The up to 90% profit split follows performance-sharing principles on simulated capital. The systematic evaluation model requires disciplined risk management over multiple trading days rather than gambling (maysir). Traders seeking Sharia-compliant parameters should request swap-free conditions upon account creation and consult a qualified religious authority for personal guidance.
Upcomers Payouts for Botswana Traders
Upcomers pays bi-weekly via USDT (cryptocurrency, direct to your wallet) and bank wire (SWIFT, 3–5 business days). USDT is the recommended route for Botswana traders — convert immediately to BWP via Binance P2P using Skrill/Neteller or Visa/Mastercard at live market rates. The minimum payout is $50. No withdrawal fees are charged by Upcomers. On a $25K funded account at 2% monthly profit, 90% split = $450/month ≈ P6,075 (at 1 USD ≈ 13.50 BWP, verified 2026-10-17).
Who Should Choose Upcomers?
Upcomers is best suited for:
- First-time prop firm applicants who want a clean, straightforward onboarding experience without complex rule structures.
- Botswana traders on a budget who want to maximize challenge fee discounts via the ttai1310 promo code.
- Traders who prefer lower Phase 1 targets — 8% vs. 10% at competing firms makes Phase 1 more achievable at conservative risk levels.
- MT5 traders comfortable with the MetaTrader 5 ecosystem who want a modern dashboard experience.
Upcomers vs Other Prop Firms for Botswana
Affiliate & Evaluation Disclosure: We may earn a partner commission if you purchase an evaluation challenge via links below, at no extra cost to you. Prop firm challenges use simulated market environments; challenge fees are at risk if drawdown rules are breached. Verified October 2026.
| # | Firm | Rating | Split | Max DD | Ph.1 Target | Scale | Refund | Action |
|---|---|---|---|---|---|---|---|---|
| 1 | 4.5 | 80% to 95% | 10% | 8% | ||||
| 2 | 4.5 | 80% to 95% | 10% | 8% (Stellar 2-Step) / 10% (Stellar 1-Step) | ||||
| 3 | 4.3 | 85% | 8% to 10% | 8% | ||||
| 4 | 4.1 | 80% to 95% | 8% to 10% | 8% to 10% | DisabledReview → | |||
| 5 | 4.2 | 80% to 95% | 8% to 10% | 8% to 9% | ||||
| 6 | 4.0 | 80% to 90% | 8% to 10% | 8% to 10% | ||||
| 7 | UpcomersThis firm | 4.0 | Up to 90% | 10% | 8% | |||
| 8 | 4.0 | 80% to 100% (with add-on) | 10% | 10% | ||||
| 9 | 4.3 | 80% to 100% (via scaling) | 10% | 8% to 10% | ||||
| 10 | 4.8 | 80% to 90% | 10% | 10% |
⚠ Prop trading firms are international evaluation providers and are not licensed financial institutions under NBFIRA or the Bank of Botswana. Verify current challenge rules directly on each provider's website before purchasing.
Sajid's Advanced Risk & Psychological Guidance
Let us talk about the psychological games that this industry plays on retail minds. Prop trading is marketed as a shortcut to wealth. The pitch is simple: pay a small fee, pass a demo test, and trade a huge account. But the statistics tell a different story. Less than 4% of traders who buy a challenge ever reach a payout, and less than 1% ever get a second payout. Why? Because the daily drawdown rules (typically 5%) force you to trade with an extremely tight margin. In a normal trading account, a 5% drawdown is just a bad day; in a prop firm, it is a liquidation event. (My account balance dropped faster than my mood after a margin call.)
Furthermore, many retail traders in Gaborone and Francistown treat prop challenges as lottery tickets. They buy multiple challenges, use excessive leverage to pass the first phase, and then blow the funded account within the first week. To trade here successfully, you must treat your challenge fee as a business asset. Calculate your maximum risk per trade (we recommend no more than 0.5% of the starting balance) so you can survive a 10-trade losing streak. If you risk 2% per trade, you are statistically guaranteed to violate the daily drawdown limit within a month due to standard market noise.
Another hidden hurdle is the execution feed. Most prop firms do not use real tier-1 liquidity providers; instead, they use synthetic feeds or B-book retail brokers. This results in artificial slippage, spread widening, and execution delays during high-impact news releases. If you are trying to trade news with a prop account, you will find that your stop-loss is executed several pips worse than what you saw on the chart, which can trigger a daily drawdown violation. Make sure you avoid trading during major red folder news events unless your firm explicitly allows it and you have a wide buffer.
The refundable fee is a powerful marketing tool. Prop firms know that if you think you will get your money back, you are much more likely to purchase a challenge. They frame the fee as a refundable deposit. But psychologically, this makes you treat the evaluation as a zero-cost exercise, leading to relaxed risk management. In reality, you only get the refund if you pass both phases and secure your first payout. If you fail (which statistically happens to 95%+ of participants), the fee is gone forever. Treat the fee as a sunk cost the moment you pay it.
In terms of Botswana compliance, remember that since you are trading demo accounts and receiving service fee payments, NBFIRA has no say in this space. It is completely legal and allowed for individuals in Botswana. But the Botswana Unified Revenue Service (BURS) will definitely want their cut. When you bring your payouts back to your local bank account (whether via SWIFT or from converting crypto on Binance P2P), classify those payouts as personal service income. Keep records of your initial challenge fees as business expenses to offset your tax liability.
Additionally, you must manage your payment channels carefully. Although the Bank of Botswana abolished all foreign exchange controls in February 1999, automated card-issuer fraud filters at commercial banks (such as FNBB, Absa, or Stanbic) may occasionally decline unfamiliar international prop evaluation merchant codes — do not keep retrying a declined card, as repeated attempts can trigger a temporary security lock. Instead, contact your bank to whitelist the international online transaction or pay the evaluation fee using an e-wallet or USDT. When withdrawing USD profit splits, compare your bank's incoming SWIFT wire and USD/BWP conversion spread against digital payout methods.
Frequently Asked Questions
Sajid
Lead Retail Trader & Botswana Market Analyst
Trading since 2012
Last updated
June 2026
Gaborone-based retail Forex & CFD analyst since 2012. Focuses on broker fee structures, offshore contracting entities, and risk management for Botswana traders.
Forex & CFD Risk Warning — Botswana Traders
Retail Forex and CFD brokers reviewed on this site onboard Botswana residents through international offshore entities that are not licensed by NBFIRA (nbfira.org.bw) or supervised by the Bank of Botswana (bankofbotswana.bw). While Botswana abolished foreign exchange controls in February 1999, trading with offshore brokers means you are not covered by Botswana statutory investor protection. Only trade with risk capital you can afford to lose.