Top forex brokers in africa
We have reviewed numerous forex brokers , there are 5 brokers which have met our quality guidelines and accept residents of South Africa. We recommend the following:. Founded in , Capital. Its offices are located in London, Gibraltar, Limassol and Minsk. Aiming to make the world of investments more engaging and accessible, Capital.
From educational materials and straightforward charts to a wide range of advanced technical indicators and drawing tools — Capital. Read Our Detailed Capital. Warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Transactions with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. The size of the potential loss is limited to the size of the deposit.
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Past profits do not guarantee future profits. Use Capital. They have been operating since , and have become a household name around the world thanks to their excellent, top-tier regulation, and the unbeatable trading experience they offer to those looking to get involved in social trading or forex. They now have locations worldwide and offer services to more than 7 million traders across hundreds of countries including all of South Africa.
Best Forex Brokers in South Africa 2021
Warning : Please be aware that all trading involves risk. You should consider whether you can afford to take the high risk of losing your money. This content is for educational purposes only and is not investment advice. While they were founded in in Ireland, they have since grown to become one of the top forex brokers in the sector offering services around the world.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs , and other markets for trading stocks, ETFs, crypto, and more.
31+ Best Forex Brokers in South Africa ( Updated ☑️ April )
AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders. Read our Detailed AvaTrade Review. Visit Ava Trade. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.
XM was founded in Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators, but also the fact they provide an accessible trading environment to traders all around the globe.
The broker caters for the needs of the forex market in more than countries. This makes them one of the most available brokers in the industry to all levels of trader.
Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM. Warning : Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. We highly recommend XM to new traders. They are now one of the leading forex broker in terms of daily trading volume. Their fees with their Ultra Low Account is also one of the lowest of all the brokers that we have compared. Plus, they have negative balance protection. Their trading environment is quite good.
Their support is also really fast in handling issues, especially their live chat which also available 24 hours during the week. Avatrade is an European forex broker that was founded in Their deposit and withdrawal options include credit cards, wire transfer, and wallets. They also accept local bank transfer deposits. But they do have a local phone number. But their fees is high with their Standard accounts. We consider them to be safe since they are regulated with multiple top-tier regulators globally.
But the spread is quite high with their Standard accounts 2. In terms of their trading fees, we recommend them for ECN accounts only. They have very convenient funding methods with zero fees on deposits.
The best forex brokers in South Africa
But they offer some fees on withdrawals, but the withdrawals are quick. They are one of the oldest regulated broker, so we recommend them. FXCM was founded in In terms of fees, FXCM only charges variable spread for every trade. Credit card withdrawals are free with no fees. But we found their Live chat support to be slow in answering questions. Disclaimer: CFDs are complex trading instruments that come with a very high risk of losing money quickly due to leverage.
Before trading with real money, you should make sure that you understand how CFDs work, its risks and whether you can afford to take the high risk of losing your money. Their platform is easy to use, and very user friendly.
But the downside is that it is not available on desktop. But their education section is quite limited though. IC Markets is one of the largest forex broker in terms of daily trading volume. With Raw spread accounts, the spread is as low as 0. With Standard account too, the spread is competitive, around 1. They are a Metatrader broker, but offer cTrader platform all. Their platform is available on all devices. Our experience with their support was also good. Read our in-depth IC Markets review. Make sure to verify if the broker is approved for offering derivative instruments.
You need to ensure that the broker that you are choosing is approved for offering derivatives trading. So next time before choosing any broker, properly do your research, and check if the broker is regulated or not. If the broker claims that it is regulated, then search the name of the broker on the websites of the Regulatory authorities: fsca. If the broker that you are about to trade with is not regulated or has a valid complaint against it or has been fined in the past for some bad practice, then its best to stay away from that broker.
Also, as another rule, never choose a broker that is not regulated with at-least 1 top regulator i. In the table below, we have compared the typical spread in pips of our 4 top rated forex brokers for their standard accounts according to the Contract Specification information on their websites :. Note: All 4 brokers compared above have variable spread, so the actual spread may be higher than the value listed in the above comparison table.
The actual live spread will fluctuate based on the market conditions. Also overall, Hotforex had very competitive spread for most FX instruments with Premium account. All 4 brokers listed in above comparison table have variable spread , so it may be lower or higher than their typical spread based on the actual Live market conditions.
Another factor to consider is if the broker offers quick order execution speed. Most of the good brokers have a terms or trading conditions page on their website regarding their execution policy. You would agree, right?
You should also carefully look into the withdrawal fees, because some brokers offer zero fees on deposits but charge high fees during withdrawals. If you prefer local bank deposits, then we recommend Exness. Your account base currency is the currency in which your trading deposits, profits are converted.