An individual cannot trade in the financial markets on his own. A broker is mandatory to act as an intermediary between an exchange and a trader. Whether it is forex trading, stock trading, commodity trading, or any other, a broker is mandatory. Another option for replacing brokers is a bank but traders feel comfortable with online brokers. Online mode of trading made it easy for many people to enter and trade in various financial markets. The best forex brokers in South Africa are offering convenient features to traders.
On the basis of trading leverage, account types, trading assets accessible, and several other factors. We have shortlisted the best forex broker in South Africa, through which you can earn great profits.
Best Forex Brokers In South Africa: Unbiased Reviews
Investby
Investby is one of the best brokers that can assist traders in reaching new heights. The broker is operated by the National Bank of the Republic of Belarus (NBRB) and is operated by TechFX LLC. The brokerage firm is quite suitable for beginner forex traders as it provides negative balance protection for the safety of clients’ funds.
It is also regulated by the FSCA.
Why Trade with Investby?
- Trading Accounts – The broker offers various types of trading accounts like silver, gold, platinum, professional, and a demo account.
- Account Opening – Traders get a quick account opening process along with fast and easy access to the leading financial markets.
- Commission – It offers commission-free trading and does not charge any commission on any trades in any of the financial markets.
- Trading Fee – Spreads and swaps depend on the trading instrument you are trading. Although swaps are higher, discounts are also available.
- Minimum Deposit – Traders can start trading with a minimum of 250 dollars or a demo account loaded with fake funds for practice.
- Leverage – It is offering the maximum leverage of 1:500 for professional traders and many other benefits along with this.
- Trading Platform – Investby operates on the MetaTrader 4, WebTrader and Mobile app. Traders can choose according to their requirement.
- Trading Instruments – Several trading instruments are offered by the broker, such as stocks, forex currency pairs, commodities, cryptos, CFDs, and many more.
- Deposit and Withdrawal – The broker provides various options for clients to deposit and withdraw the funds from their trading account.
- Customer Support – With this broker, traders get a dedicated customer support team available 24/5 to resolve queries.
- Educational Resources – A wide range of educational material is offered to every trader, such as articles, VODs, courses, and many more. Apart from these, it also offers great trading tools that are useful for technical analysis.
Global TradeATF
Global TradeATF is one of the best brokers in South Africa, and it is designed to enhance individuals’ trading experience. The broker is managed by its parent company that is Bayline Trading Ltd.
The company is authorised and regulated by the International Financial Services Commission (IFSC) of Belize. It is a regulated broker that is offering the best trading features to its clients.
Why Trade with TradeATF?
- Trading Accounts – Traders get multiple options of trading account to choose from according to their preference, like silver, gold, platinum, and a demo account.
- Account Opening – You have to go through a quick and fast account opening process that is easily understandable by almost all traders. Just follow the steps.
- Commission – Traders do not need to pay commission on their trading activities as the broker does not charge commission on trading.
- Trading Fee – The trading instrument you are trading helps determine the trading fee, such as swaps and spreads. The broker also offers swap discounts.
- Minimum Deposit – Traders need to make 250 dollars to start trading with their trading account opened with the broker.
- Leverage – The highest professional trading leverage offered by the broker is 1:500 for traders. They can increase the trading profits with the help of leverage.
- Trading Platform – Global TradeATF runs on the MetaTrader 4, WebTrader and Mobile app. Traders have the option and convenience to choose the best option.
- Trading Instruments – The broker offers the opportunity of trading CFDs on stocks, currencies, commodities, indices, and many more.
- Deposit and Withdrawal – Multiple trending deposit and withdrawal options are offered by the broker, among which traders can choose the best one.
- Customer Support – Global TradeATF offers dedicated customer support 24 hours a day and five days a week to resolve issues faced by the clients.
- Educational Resources – Traders can enhance their trading knowledge with the help of various types of educational material provided by the broker.
ETFinance
ETFinance is an award-winning broker and among the best brokers in South Africa. It is owned by Magnum FX (Cyprus) Ltd, its parent company. It is registered and regulated by the Cyprus Securities and Exchange Commission (CySEC).
It is a well-regulated broker that offers transparent trading options to its clients. Some of the best features are provided by the broker to its clients to give them a better experience in trading forex pairs.
Why Trade with ETFinance?
- Trading Accounts – Beginners can start with a demo account; retail and professional traders can choose from silver, gold, platinum, and professional accounts.
- Account Opening – A simple and quick account opening process is offered to each trader. Fill in your details and verify your documents as well as the payment option.
- Commission – Zero commission is charged on the trading activities of the traders trading with this broker. However, other fees are payable by traders.
- Trading Fee – The trading fee is charged in the form of swaps and spreads. Hig swaps are charged, although discounts are also available for traders.
- Minimum Deposit – The minimum deposit required to start your trading account is 250 dollars. After making this deposit, traders can start trading.
- Leverage – The maximum trading leverage offered by the broker is 1:500 for professional traders. Through this, traders can increase their profits.
- Trading Platform – MetaTrader 4 is the trading platform that the broker offers. Traders can choose from the WebTrader or Mobile app of the broker.
- Trading Instruments – A huge collection of trading instruments are provided by the broker like stocks, commodities, currencies, cryptos, and many more.
- Deposit and Withdrawal – Various different kinds of deposit and withdrawal options are provided by the broker from which traders can choose the suitable one.
- Customer Support – ETFinance provides dedicated customer support. The support is available 24/5 in, and traders can contact in three different mediums.
- Educational Resources – The broker provides a vast collection of educational material to help traders in increasing their knowledge.
Saxo Bank
Saxo Bank is an award-winning broker that is regulated in more than 120 countries. The broker is offering excellent features to its traders. 40,000+ financial trading instruments are available for trading with the broker.
The company operating the broker is headquartered in Denmark. This broker is also one of the best forex brokers in South Africa.
Why Trade with Saxo Bank?
- Trading Accounts – Types of accounts offered are classic, platinum, VIP and demo account.
- Account Opening – Complete your KYC, fill in your details and open your account with a quick process.
- Commission – Saxo Bank provides zero commission trading activities for the traders trading with this broker.
- Trading Fee – Spreads are payable as the trading fee to the broker. Discounts are also available.
- Minimum Deposit – The minimum deposit requirement for the broker is too high, which is 10,000 dollars.
- Leverage – The maximum leverage that the broker offers is 1:30 for the retail and professional traders.
- Trading Platform – It operates on the SaxoTraderGo and SaxoTraderPro trading platforms.
- Trading Instruments – Traders have an option to choose from a huge collection of trading assets.
- Deposit and Withdrawal – There are multiple deposit and withdrawal options available for the traders.
- Customer Support – Multilingual dedicated customer support is available to all the traders.
- Educational Resources – A wide variety of educational material is offered to the traders for enhancing knowledge.
Pepperstone
Pepperstone is owned and operated by Pepperstone Financial Services (DIFC) Limited. It is a regulated forex broker by the Dubai Financial Services Authority. The broker is among the best forex brokers in South Africa.
High trading leverage, multiple choice of trading assets, and others are the best features of the broker.
Why Trade with Pepperstone?
- Trading Accounts provides standard, razor, swap-free, professional, and demo accounts options to each trader.
- Account Opening – Open your trading account by following the simple steps of the procedure.
- Commission – Commission is payable depending upon the account type a trader is using for trades.
- Trading Fee – Swaps and spreads fees are payable according to the market rate of the trading instruments.
- Minimum Deposit – $ 150 is the minimum deposit requirement of the broker for each trader.
- Leverage – Traders get the maximum trading leverage of 1:500 for increasing their trade amounts.
- Trading Platform – Pepperstone runs on trading platforms such as MetaTrader 4, MetaTrader 5, CTrader, and the mobile app of the broker.
- Trading Instruments – Traders can choose among stocks, commodities, currencies, and more for trading.
- Deposit and Withdrawal – Several options are available for making deposit and withdrawal from your trading account.
- Customer Support – Customer support is available 24/5 in various ways and in multiple languages.
- Educational Resources – Traders can learn new things with the help of educational material.
IC Markets
In 2007, IC Markets was founded in Sydney, Australia. It is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). And many more with these two regulatory authorities in the foreign exchange market.
It is one of the best forex brokers in South Africa.
Why Trade with IC Markets?
- Trading Accounts – The trading accounts offered by the broker are cTrader, Raw Spreads, Standard, and a demo account.
- Account Opening – The process of account opening is quick and simple. Traders just need to fill in the required details and get the account verified.
- Commission – Trading commission is required to be paid with the trading activities of a trader.
- Trading Fee – Spreads and swaps depend upon the trading asset or market in which a trader is trading.
- Minimum Deposit – Traders can start online trading after making a minimum deposit of 200 dollars.
- Leverage – IC Markets is offering the maximum trading leverage of 1:500 for its traders.
- Trading Platform – The broker operated on the cTrader, MetaTrader trading platforms, and the mobile app.
- Trading Instruments – A wide range of trading instruments are available among different markets.
- Deposit and Withdrawal – Traders can opt for the best deposit and withdrawal options that are suitable for them.
- Customer Support – IC Markets is providing multilingual customer support that is working 24/7.
- Educational Resources – A very large collection of educational material is offered by the broker.
The Bottom Line
All these brokers mentioned above are the best forex brokers in South Africa. Forex traders get many trading options with these brokers, such as forex trading, stock trading, and many others. You can also compare them to find the best broker for yourself. All these are the best forex trading platforms to trade major currency pairs as well as minors and exotic currency pairs. Choose your broker carefully, and check whether it is regulated by FSCA or not. There are so many other financial institutions like ABinvesting that you can consider for forex trading in South Africa.
