Forex Trading has been gaining firm grounds in South Africa where many brokers now operate successfully. It is legal to forex trade in South Africa and comes with a great margin of profit, hence the audience who step into Forex trading has sky-rocketed. It can be a difficult task to choose one broker in a list of so many. This article lists out the five best trading brokers in South Africa that are reliable and authentic, along with their commendable qualities that will help you to decide for yourself.
Trade Nation is a regulated online trading broker that provides traders with the ability to buy and sell a variety of financial instruments. Trade Nation provides its own trading platform and MetaTrader 4 where traders can trade, formulate trading strategies, perform various analyzes and much more. Trade Nation provides traders with dedicated 24/5 customer support, as well as extensive research and educational resources, and tools to easily navigate between different financial markets. It provides a maximum leverage of 1:200 and fixed spreads without any hidden fees.
Scope Markets SA (Pty) Ltd
Scope Markets SA is a reputed and regulated currency and CFD brokerage company and a global provider of integrated online trading services and a wide range of institutional solutions. Scope Markets SA provides the best trading conditions and services for South African traders. Scope Markets SA prioritizes its clients with a focus on providing flexible products and unique solutions to meet diverse business needs, styles and experiences. Scope Markets SA is regulated by the FSCA to provide a secure trading environment in which traders are treated fairly and clients’ assets are safe. It has a leverage of 1:500 and offers a range of tradable financial instruments.
Plus500 is the leading global trading platform that gives traders around the world access to over 2000 trading instruments covering metals, electricity, options, ETFs, forex and more. With Plus500 you can trade Contracts for Difference (CFDs). This allows traders to anticipate price fluctuations and sell long and short positions without the involvement of the business owner. It has a leverage of 1:300,offers commission-free trading and flexible account funding options.
FXTM is an authentic ECN and STP broker established in 2011, providing more than 250 tradable financial instruments. FXTM is known for its competitive trading conditions and easy-to-use trading platform that can be used on mobile, desktop and network devices. FXTM provides South African traders with a series of educational products, trading tools and flexible and dynamic account types, providing each trader with a unique experience. It offers a maximum leverage of upto 1:2000. It has a low minimum deposit requirement and multilingual customer support service.
IG is a reliable, well-managed broker since 1974 providing the best trading platforms for over 200,000 traders around the world. South African traders can trade in over 17,000 markets using an innovative and easy-to-use trading platform. IG welcomes new traders, experts and institutional investors. It charges no fees for withdrawals and deposits. It also offers tight spreads and low commissions with a maximum leverage of 1:200.