There are many foreign exchange brokers in South Africa. In South Africa, everyone can earn over tens of billions of dollars in foreign exchange because they have the legal right to be forex traders. How to choose the best broker in a list of so many? Read on to highlight the points that live up to your expectation of the best brokers in South Africa!
Tickmill, founded in 2014, is a trusted broker regulated by the FCA and FSCA. South African shoppers can use the rand (ZAR) to shop online. There is no commission for deposits and withdrawals. It provides over 62 pairs of major and minor currencies for trading. It has good chat support which makes communication easier. You can get a professional account and the commission for each standard account is very low, only $4.
Hotforex was founded in 2010 and has been regulated under FCA since 2016 to ensure the safeguarding of funds. As a fully regulated broker in multiple jurisdictions, HotForex supports secure trading features and offers a variety of solutions, including zero spread trading and Islamic accounts. It is a 100% STP forex broker in South Africa. It has a wide range of trading instruments with 54 currency pairs for trading. HotForex also offers powerful CFD and Forex solutions. South Africans can profit from price changes for various instruments, including cryptocurrencies.
BDswiss is a renowned money broker founded in 2012, licensed by CYsec and NFA. It has a good spread, competitive with classic accounts and only 0 points on raw accounts. There are no restrictions on how you can raise funds and they are all free. It has various trading instruments with 51 currency pairs available for trading. They provide excellent customer service with a very responsive support system. They communicate with bots that directly answer all frequently asked questions.
IronFX is an online broker that provides excellent Forex trading services through over 80 currency pairs, including ZAR, and other currency pairs comprising major and minor currencies.
They offer two trading platforms, which are MetaTrader 4 and their own Advanced platform.
Although this broker offers CFD trading volume, the choice of alternative assets is very scarce.
IronFX charges higher fees for certain trades than other brokers. It is a great broker if you only plan to trade forex without any other forms of trading.
Exness is one of the most well-known brokers globally. It is regulated under FCA, FSCA, and other authentic regulators. It has an exceptionally competitive spread , offers multiple trading platforms with instant deposit and withdrawals. Offers platforms such as MT4 and MT5 with great customer support.
AvaTrade, regulated under the FSCA, has access to a variety of liquidity providers that promise to trade CFDs with competitive spreads. AvaTrade ZA also has several trading platforms including MT4 and MT5 icon platforms, browser and proprietary trading platforms, AvaTradeGO and AvaOptions. It has more than 55 major and minor currency pairs and provides competitive spreads.