Forex trading is one of the biggest financial markets in the world that is very popular in South Africa. It generates tens of millions of dollars each day, hence the ever-growing audience. The best forex broker in South Africa will often be a matter of individual preference for the forex trader. It may come down to the pairs you need to trade, the platform, currency trading using spot markets or per point, or simply ease of use requirements. This article lists down some of the best brokers in South Africa, maybe you will find the one that suits all your requirements.
CM Trading is one of the most innovative foreign exchange brokers in the world and the largest broker in South Africa. CMTrading specializes in Forex, Indices, and Commodities trading. CMTrading offers an award-winning trading platform and high liquidity, from novice traders to experienced traders. Traders can invest with confidence in a highly secure and controlled environment that allows traders to use foreign currencies, indices, and commodities, including cryptocurrencies, through a seamless workflow. It prioritizes its clients so it offers segregated accounts and a minimum deposit of $100 which is less as compared to many other brokers.
TickMill provides traders with two main account types, available through the popular MetaTrader 4 platform, with an average speed of 0.3 seconds, variable load, leverage up to 1:30 and provides competent micro trading lots. There are no fees for classic accounts, but ProECN does charge a small fee and tighter spreads. It is available on Mac / Windows, Android, iOS, and web devices and supports various payment methods such as credit/debit cards (Visa, MasterCard, Maestro), bank transfers, Skrill, Neteller, dotpay, sofort and others. It has good customer service that responds quickly and will solve all your queries, especially if you are a beginner.
Hotforex was founded in 2010 and has been managed by the FCA since 2016 for financial security. As a full-fledged broker in multiple jurisdictions, HotForex supports secure trading features and offers a wide range of solutions, including zero trading and Islamic accounts. It is a 100% STP foreign exchange broker in South Africa. With a wide range of trading instruments, you can trade 54 currency pairs. HotForex also offers powerful CFD and Forex solutions. South Africans can benefit from price changes for various commodities, including cryptocurrencies.
AXIORY is a bankrupt company based in Belize, established in 2011 and controlled by IFSC. AXIORY is an STP broker that provides trading instruments and assets through the MT4 and cTrader platforms. AXIORY Europe is a broker and asset management company that provides direct interbank access to ECN / STP checking accounts. It is operated by CySec. Axiory facilitates its clients with a demo account that helps them get familiar with the platform. It provides segregated accounts to increase client funds security and also gives annual reports for better analysis and to design future strategies.