OctaFX Broker 8. Best forex brokers in South Africa video. XM Broker. Trading Experience 9.
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Customer Support 9. Mobile Trading 9. Asset Coverage 9.
Best Forex Brokers in South Africa - Top 10 Companies' List
Fees 9. Security 9. HotForex Broker. Cons Only 56 Shares Are Available.
IC Markets Broker. Fees 8. IQ Option Broker. Customer Support 7. Customer Support 8. Mobile Trading 8. Asset Coverage 8. Fees 7. Olymp Trade Broker. Cons Limited To Certain Jurisdictions. FXTM Broker. Trading Experience 8. ExpertOption Broker. Asset Coverage 7. Alpari Broker. OctaFX Broker. The real star, though, is the proprietary IG web platform, loved for its speed, reliability and user-friendly design. IG also excels in research.
With its broad selection of news and market research tools and a personalised news feed, you always have the most relevant industry data and content in front of you. In fact, its low-spread offering is considered one of the best in the industry, available to every trader and account type. The award-winning platform is renowned for being the most user-friendly option on the market. Its charting function features an impressive 80 technical indicators, 40 drawing tools, 73 candlesticks, and an innovative tool that spots emerging patterns in your charting data. If mobile trading is an important feature for you, CMC has you covered.
Next Generation works just as flawlessly on mobile as it does on the web, with excellent consistency across the formats and lots of value-added features like research updates. As with most brokers, you can get access to better spreads by using their proprietary software. Both are responsive and user-friendly platforms, but AT Pro packs an extra-powerful set of features for more experienced traders.
Overall, City Index a good all-rounder that caters to traders of all budgets, styles and experience levels. It offers a good balance of everything, with proven reliability, affordable entry, competitive spreads, and a good mix of currencies. Plus is an established favourite for serious and casual traders alike. However, their WebTrader offering is very easy to use and features all the most essential charting and risk management tools.
However, what it does offer, it does very well. Boasting currency pairs, Saxo Bank is one of the best brokers out there in almost every category. Saxo Bank tends to cater more for the high rollers and super-active traders. If you were in the U. Their innovative, in-platform research offering is among the best in the market, delivered via in-house experts and industry heavyweights.
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These fantastic proprietary platforms leave nothing to be desired, with stacks upon stacks of innovative tools and algorithmic order types. Best of all, both platforms are seamlessly integrated with each other and the mobile app, which is also in a league of its own. You get the impression that every need has been anticipated across the systems, and the whole user experience feels completely effortless.
The standard account is free to open, but offers some of the highest spreads on the market. Note that LCG also charges commission. If you can afford the minimum deposit, the spreads really are among the best. However, be sure to use LCGTrader, their white-labelled cTrader platform, as the spread and commission both increase dramatically if you use MetaTrader 4. If you trade at a high enough volume, you can also benefit from a generous active trader programme and significant rebates.
Pepperstone is a relative newcomer to the market with around 60 currency pairs. With no minimum deposit and an emphasis on copy trading, Pepperstone is a great option for beginner traders.
On their commission-free standard accounts, spreads are on the average-to-high side. Upgrade to their commission-based Razor account, though, and you can benefit from significantly lower spreads. However, it offers a huge range of other options, including the popular MetaTrader and cTrader platforms, both of which are available on mobile too.
If you want to take advantage of their awesome social trading capabilities, Pepperstone also offers a number of copy-trading platforms like MirrorTrader and RoboX.
Top 10 Forex Brokers in South Africa
Wherever you are in your forex trading career, your broker is an essential partner that you need to choose wisely. Remember, this is just a guide, and the right broker will depend on lots of personal factors and circumstances. Best of luck! Keep your investment funds separate from their operating funds. Process your withdrawal requests instantly. Submit annual audits and regular financial statements to the FCA.
Clearly display their FCA registration number on their website.
Conclusion
How is their customer service? Look at online reviews to see: The ratio of complaints to positive reviews. If any particular issues seem to come up a lot. How quickly and efficiently issues have been resolved. Whether any issues have gone unresolved, why, and for how long.
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How the broker responds to positive and negative feedback. What fees do they charge? Forex brokers earn money from spreads, commission and fees. What trading platforms do they offer?