Forex Trading Brokers – Want to trade Forex online? Looking for a trust worthy broker in South Africa? Because FX trading runs through out day in and night out, you need a platform that secured, with high and modern web security technologies. First, let’s review five of the top used brokers in the country and their benefits.
1. Markets.com – (min. $100)
A trusted world leading broker and the fasted growing Forex providers in South Africa operated by Safecap Investments Limited and a subsidiary of Playtech. It is based on Cyprus, licensed under CySec as well as the Financial Services Board in South Africa. Markets.com offers various bonuses but that interest is the $25 bonus when you sign up, by completing registration and verifying your phone number. Their system is beginner friendly and gives you unlimited practices through their practice account type. Like any other popular brokers around the world, it’s got a low minimum deposit of $100 (R1327.75).
Breakdown by Trade Forex SA
Markets.com is a user-friendly platform for trading Forex and ideal for beginners thanks to its unlimited practice account and 24-hour support. With multiple platforms, you can tailor your trading experience. If you’re looking for a trusted Forex platform, Markets.com is not only regulated by two authorities but has also been globally recognised, winning awards from the London Investor Show Forex and Global Banking & Finance Review. Football fans might also be interested in Markets.com partnership with Arsenal F.C. The site offers promotions to win tickets and merchandise.
2. CM Trading – (min. $250)
Based in Johannesburg and operating out of both South Africa and the Seychelles, CMTrading is stringently regulated and a trustworthy broker founded by experienced and professional traders. Your money is protected by the Financial Services Board (FSB) of South Africa, which tightly regulates non-banking financial services. CMTrading offers the most popular and user-friendly trading platforms available and their chat helpline is open 24/5. Traders based in Africa would be well advised to make use of CMTrading. – breakdown by Trade Forex SA
3. Easy Forex – (min. $100)
Established in 2001 and launching online a few years later, Easy-Forex is a well-received broker operating in dozens of countries. They’re licensed to operate by CySEC, ASIC AFSL, and they operate primarily out of Cyprus although they’re an Israeli company. Even though they do not accept American investors, they have still managed to create quite a fan base around the globe. – breakdown by Trade Forex SA
4. AvaTrade – (min. $100)
AvaTrade can easily be considered as one of the most well respected and trusted Forex brokers around, with live offices in Dublin, Sydney, Milan, Tokyo, and New York, just to name a few. To call AvaTrade a global broker would be an understatement. They offer Forex brokerage services to practically every nation, and they have dozens of different language options in their software and with support techs.
Apart from being regulated in South Africa by the FSB, this brokerage firm is licensed by MiFID from the European Union while being regulated by the Central Bank of Ireland, so they’re always held to the highest possible standards by legislation and strict oversight. They are reliable, and South Africans love trading with them.
– breakdown by Trade Forex SA
5. Blackstone Futures
Blackstone Futures is a new broker which is regulated by the FSB with registration number38782. I had a conversation with the CEO and he seems committed to making an impact in the South African market.
They offer a promising alternative to the other company here in SA, I’m beginning to create a relationship with them and look forward to seeing how they develop. I’ll update this post when they settle more and start offering the MT4 platform, which I don’t think they do at present.
– breakdown by harounkola