South Africa Forex Brokers – Top 10 South African Forex Brokers
South Africa is a huge market and the potential for growth is very high. As it is the most advanced country in the African continent in terms of economic growth, it is even part of the G20 countries. The legal, financial and communications sectors of the country are well-developed and South Africa’s JSE Limited is by far the largest stock exchange in the African continent and ranks among the top 20 exchanges in the world.
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South Africa is a very popular Forex trading and Stock trading. South Africa Forex Brokers are provide trading service to the Africa region client. We can see many South Africa Forex brokers and international Forex brokers are provide trading service in South Africa. They are provide trading service to the South African client. But all those South Africa Forex brokers and international Forex broker are not properly regulated. you should select regulated Forex broker. Because of regulation is very for selecting a Forex broker for your investment.
South Africa has a large number of institutional and retail Forex traders. Those traders understand Forex is a potential profitability market. International largest Forex brokers understanding South Africa have an institutional and retail Forex traders market. Local South Africa Forex Brokers and also Many international Forex brokers are in South Africa provide trading service, and they are have been highly profitable Forex broker operating in South Africa, as well as the successful forex traders in south africa also make a profit from Forex trading.
South Africa Regulation for south african forex brokers
The Financial Services Boards (FSB) are a South African regulator. FSB is an independent institution. The Financial Services Boards (FSB) supervise South Africa Non-Banking Financial service industry for the public interest. The FSB promote and maintain secure financial investment in South Africa. FSB is a South Africa Forex brokers regulatory body. Most of the South Africa Forex Brokers is hold FSB regulation license. For more Information clcik FSB Site
In Forex Trading in essential Forex broker regulation. Regulation ensures client investment safety. We can see in South Africa operated South Africa Forex brokers and also many international Forex Broker. But all those Forex brokers are not proper Regulated. Non-regulated Forex broker can be fraud. When you are choosing a Forex broker for your real money investment, you should select regulated Forex broker. Now you are thinking how to find reliable and regulated Forex broker. Don’t worry about reliable Forex broker. We are selecting high regulated reliable and trusted Forex broker. You can choose any one Forex broker from our Broker list. Our listed all Forex brokers are highly regulated, reliable and trusted Forex broker in the Forex market.
Below is a list of forex brokers regulated in South Africa.
1) FXTM is a highly Popular broker among South Africans as they are registered with our local FSCA regulator, so you can rest assured there is no monkey business going on.
Also what’s great is that if you don’t have the usual $250 minimum deposit required by most brokers, FXTM has a an account known as the cent account with a minimum deposit of only $5.
Cent Account – Minimum Deposit $5 (+/- R80), Spreads from 1.5
Standard Account – Minimum Deposit $100 (+/- R1,400), Spreads from 1.3
To wrap it up they pretty much have all the bells & whistles as any other broker on this list, including Copy Trader a feature which allows traders to automatically copy professional traders.
2) AvaTrade is regulated by 6 different regualatory bodies across the globe including South Africa’s FSCA, their head office is based in Ireland.
They offer a wide array of educational resources, and provide novice traders the opportunity to follow the trades of more experienced traders.
Like Plus500, AvaTrade is a global forex broker that also has a SA subsidiary (Ava Capital Markets Pty) meaning it is regulated by the South African Financial Services Board. They have over 200,000 forex traders using the fx broker and have won the ‘best customer service award’ in past years and offer both there forex platform and MT4.
In fact, they offer one of the widest choice of trading platforms. Their own platforms are AvaTradeAct and AvaTradeGo. AvaTradeAct is Mac compatible while AvaTradeGo can be used on Apple and Android devices. As with most brokers, clients can also trade with MT4, ZuluTrade, Mirror Trader and MQL5 allow clients to copytrade and follow signal services.
AvaTrade was one of the first brokers to offer cryptocurrency trading and still has the widest range of cryptocurrency CFDs.
3) AxiTrader – 10/10 Rating – FSP number 45784
AxiTrader acquired One Financial in 2018 helping them use the FSCA licence to enter South Africa. The Australian-based forex broker gained market share based on their MetaTrader forex trading platform offering with advanced features, low spreads and commissions and customer service.
4) Plus500 – 7.5/10 Rating – FSP Number 47546
Plus500 holds the Authorised Financial Services Provider licence with the Financial Service Board of South Africa. The global fx broker is suitable for all investors with strengths in customer service, an easy to use forex trading platform and a range of markets from Shares, Indices, Cryptocurrencies and Forex with an assortment of currency pairs.
5) IG – 4.5/10 Rating – FSP No 41393
As one of the largest global foreign exchange retail broker, IG offers CFD trading on global products including over 8000 international shares using margin. IG was voted as the best South African CFD broker in 2012 and 2013 through the Business Day and Active Day Traders gave it the ‘best Online Broker’ in both 2015 and 2017.
6) Pepperstone – 10/10 Rating – FSP Pending
Pepperstone Group Limited with FSP Number 49497 is in the process of been regulated by FSCA with an application made on the 24/05/2018. This is the most awards forex broker in Australia based on there low spreads, advanced forex platform, award winning market service and leading edge technology leading to fast execution speeds.
7) CM Trading As an FSCA regulated broker & SA’s largest broker CM Trading provides its clients with custom made Forex trading solutions.
Their clients can enjoy a wide variety of powerful Forex trading platforms and software such as the popular MetaTrader 4 and the CopyKat system.
CM Trading is committed to providing its clients with the best trading tools on the market in order to help them maximize their profit potential.
They keep clients’ funds in segregated accounts, which allow them to trade with confidence.
8) IronFX IronFX pride themselves on their transparency. They are registered with South Africa’s local FSCA & have an office located in the country with dedicated account managers to support their forex traders.
They offer three account types: micro with a minimum deposit of $100, a premium account with a minimum deposit of $2,500, and VIP accounts which require accounts of $20,000 or more.
Their proprietary app is IronFx webtrader, and clients can also use the PMAM platform to manage multiple accounts. This broker offers a very wide array of reports for clients to track their accounts. IronFX offers fixed and variable spreads to suit different trading styles and volumes.
9) easyMarkets, a market maker type forex broker, was initially established under the trade name “easy-forex” in 2003. easyMarkets offers 136 spot currency pairs, 48 FX forwards and 57 currencies crossed with metals for trading. easyMarkets is the trading name of Easy Forex Trading Limited and the company’s website is operated by Easy Forex Trading Limited
Operational Since: 2003
Types of Accounts: Demo and Standard
Minimum Deposit: $25
Spread: Fixed
Leverage: Up to 400:1
Deposit Options: Credit Card, Webmoney, Wire Transfer, Neteller
Trading Platforms: easyMarkets, easyMarkets MT4
Bonus: Up to $2,000
10) Markets.com is operated by Safecap Investments Limited, which is a financial services company that is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). Safecap is a subsidiary company of Playtech PLC, which is traded on the Main Market in the London Stock Exchange and is a FTSE 250 index constituent. Safecap has also obtained the license from the Financial Services Board in order to operate in South Africa. Markets.com received the best customer service award at the London Investor Show Forex in 2012, among others over the last few years.
Operational Since: 2010
FSB License Number: 43906
Types of Accounts: Demo and Standard
Minimum Deposit: $100
Spread: Low
Leverage: Up to 200:1
Deposit Options: Credit Card, Webmoney, International Bank Transfer, Wire Transfer
Trading Platforms: Markets WebTrader, Markets MT4, mobile platforms
Bonus: $25 on registration