Top 10 South African Forex Brokers: Trading in forex markets is subject to risks, so one has to be very careful in choosing the right broker for trade. As there might be many brokers in South Africa, but there are only a few with which you can work for a long time. Down below is the list according to their registration fee, the technology used by them, third party instrument, commission and trading research and experience along with strong customer support.
With the help of our thorough analysis, you will be able to find the top forex traders in south African markets. This review is irrespective of novice to experienced market players.
South African forex brokers
AVATrade
Founded in 2006 and having an experience of over 11 years, the company has also gained and retained the trust of over 1 Million active users. Hence in our review of the top 10 brokers of South Africa. This trader has ranked on no 1. Check out the trade facilities that AVA trade is providing to its customers.
- Regulated: by FSB, ASIC, FSC, FFA
- Instruments available to trade: More than 20 plus instruments including Forex and cryptocurrencies.
- Learning & research: Huge library of videos and PDFs are available.
- Minimum deposit: $ 100.
- Security systems employed: SSL systems for secure transaction.
- Technical support: 24*7 customer support is available.
- Technology implemented: MT4, MT5.
Just Forex
They believe in long term customer relationships; hence they have reached a customer base of over 1 Million. And hence they are on 2nd position of our broker review Just Forex.
- Regulated or authorised: by FSA.
- Instruments available to trade: 170 plus trading instruments including stocks and indices.
- Learning & research: 100% analytics and educational support are provided by them.
- Minimum deposit: $1 only to begin.
- Security systems employed: SSL Systems supported user transaction.
- Technical support: best customer support 24*7
- Technology implemented: MT4, MT5.
Tickmill
They use two types of an account using MetaTrader 4 platform. One is free, and one is pro.
- Regulated or authorised: by CySEC, FCA, FSC
- Instruments available to trade: Forex. Stocks, indices and CFDs
- Learning & research: a full library of videos and PDFs are available for learning and research.
- Minimum deposit: $100
- Security systems employed: User transactions are secured by SSL systems.
- Technical support: 27*7
- Technology implemented: MT4, MT5
CM Trading
It is the biggest broker of SA.
- Regulated or authorised: by FSCA (Financial Sector Conduct Authority)
- Instruments available to trade: Stock, Forex, indices etc.
- Learning & research: A whole bunch of e-library is present to understand the things.
- Minimum deposit: $250.
- Security systems employed: SSL Systems
- Technical support: Live chat and email facility is available 24*7.
- Technology implemented: MT4, CopyKat.
FXTM
FXTM is South Africa’s 2nd largest and trusted broker.
- Regulated or authorised: by FSCA, IFSC, CySec, FCA, FSC.
- Instruments available to trade: 250 plus trading instruments including oil and metals.
- Learning & research: Learning repository is available for beginners and experienced ones.
- Minimum deposit: $10.
- Security systems employed: SSL Systems is employed through all platforms including iOS, Android etc.
- Technical support: 24*7 technical help is available.
- Technology implemented: MT4, PMAM and web trader.
Iron FX
Now Notesco Financial Services Limited. This broker particularly provides its services and speculations in the retail foreign exchange business. This broker is famous for its steady spreads during volatilities in market conditions.
- Regulated or authorised: by CySEC (Cyprus Securities and Exchange Commission)
- Instruments available to trade: Forex, metals, shares, indices, commodities.
- Learning & research: is Available 24*7.
- Minimum deposit: $ 100.
- Security systems employed: SSL Systems.
- Technical support: Auto trade facility is available, Guaranteed stop-loss order support is available by them.
- Technology implemented: MT4, PMMA.
Exness
With their 12 years of expertise, they work on 0 spread & 0 commission policy. Hence they are peoples favourite for trade in volatile markets.
- Regulated or authorised: by CySEC.
- Instruments available to trade: They give instant execution facility in forex currency pairs, and in gold and silver etc.
- Learning & research: can be availed Through webinars and e-repository.
- Minimum deposit: is starting from just $1.
- Security systems employed: SSL Systems security for a hassle-free transaction.
- Technical support: 24*7
- Technology implemented: MT4, SunGard’s IntelliMatch software.
FBS
This is also the official partner of Football Club Barcelona. This allows a low spread of 1 PIP and leverage ratio from 1:3000 to 1:500.
- Regulated or authorised: by the IFSC (International Financial Services Commission)
- Instruments available to trade: Metals, CFDs, Fore Exotics etc
- Learning & research: Yes, they provide analytics and educational support.
- Minimum deposit: is starting from just $1.
- Technical support: Zero spread account, fully automated deposit and Withdrawal.
- Technology implemented: FBS Trader, MT4, MT5.
IG
They are famous for making profits out of both rising and falling prices when a user invests in CFDs.
- Regulated or authorised: by BaFin (Federal Financial Supervisory Authority), FCA(Financial Conduct Authority).
- Instruments available to trade: Commodities, Forex, cryptocurrencies, indices.
- Learning & research: They provide learning through e-learning materials like videos and webinars.
- Minimum deposit: $300.
- Technical support: 24*7 technical support is available.
- Technology implemented: API, ProReal time, MT4.
Markets.com
Along with their little high deposit plan, they provide a demo account for their beginner customers.
- Regulated or authorised: by ASIC (Australian Securities and Investment Commission), the FSC (Financial Services Commission), and FSCA (South Africa’s Financial Sector Conduct Authority).
- Instruments available to trade: Indices, Bonds, ETFs.
- Learning & research: yes.
- Minimum deposit: $250.
- Technical support: 24*7 live chat is available.
- Technology implemented: MT4 and Apps.
Note: Abbreviations used are:-
ASIC (Australian Securities and Investment Commission)
FSC (Financial Services Commission)
FSCA (South Africa’s Financial Sector Conduct Authority)
IFSC (International Financial Services Commission)
CySEC (Cyprus Securities and Exchange Commission)
