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7 Best Forex Brokers in South Africa

8 February 2021 10:06 PM UTC
7 Best Forex Brokers in South Africa
Avatrade

AvaTrade is headquartered in Ireland since founded in 2006 and is regulated by numerous reputable authorities.

Avatrade has a limited choice of account types, divided for residents of the European Union and for persons outside the EU. All accounts offer a market-maker/dealing desk execution type.

Avatrade provides MetaTrader 4, MetaTrader 5, a proprietary and a Web-based platform to be used with a maximum leverage of 1:400 for trading Forex, CFDs, Commodities, Metals, Oil, Gold and Indices.

 

CM Trading

CM TRADING is based in Johannesburg, the financial capital of South Africa, and operates in a regulated financial environment with state of the art MetaTrader 4 and Sirix WebTrader platforms for traders’ safe investment and trading. The broker offers a maximum leverage of 200:1.

Its MetaTrader 4 offers clients a simple but efficient way to trade forex and new traders enjoy the CopyKat copy-trading system. 

 

Exness

Exness was founded in 2008 and is registered and authorised in Seychelles by the FSA, in Cyprus by CySEC and the FCA in the United Kingdom.

The broker offers MT4 and MT5 and a WebTerminal as trading platforms, with more than 130 currency pairs, metals, cryptocurrencies, energies and Indices as trading instruments.

Pro Tip: View the 27 most reputable forex brokers in SA

Markets.com

Markets.com was created in 2008 as part of the TradeTech Group, a FTSE 250 listed company. 

The broker has its head offices in Nicosia, Cyprus and is regulated by CySEC and the South African FSCA.

The broker offers Marketsx, as trading platform, a mobile platform and automated trades with MT4 and MT5 platforms that give access to Indexes (42), Bonds (4), Blends (23), commodities (26), Currencies (67), ETFs (59) and Cryptos (6) as trading instruments.

Plus500

Plus500 is a CFD broker that was founded in 2008 and operates out of Israel. It is a FTSE 250 listed brokerage and is authorised and regulated by the FCA, CySEC, ASIC, FMA, FSB and MAS to offer Contracts for Difference (CFD), Crypto, Indices, Forex, Commodities, Shares Options and ETFs.

Plus500 provides its own proprietary trading platform, and has one CFD account for all traders, while a professional account is available if some requirements are fulfilled.

 

XM.com 

XM.com is an online global broker founded in 2009 with head office in Cyprus.

XM.com accepts traders from most countries, except the United States, Canada, Israel or Iran.

XM.com offer several payment methods and deposits can be made in any currency to be automatically converted into the selected base account currency.

XM.com offers MT4 and MT5 platforms, and the XM WebTrader to trade more than 1000 instruments.

XM.com is regulated under the IFSC of Belize, CySEC, and the Australian ASIC.

 

JustForex

JustForex is based in Saint Vincent and Grenadines. It was founded in 2012, is registered by the Financial Services Authority in the jurisdiction and offers trading on the МetaTrader 4 platform. 

JustForex provides a wide choice of accounts and conditions, and exceptional analytical materials on the website free of charge to visitors. 

JustForex offers most popular payment methods, lots of financial instruments (depending on the account), tight spreads, no limits on trading strategies and a range of beneficial partner programmes.

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