Forex keeps gaining more and more ground in South Africa most especially amongst the youths. There are a few problems that come with forex and one notable one is getting the best forex brokers in SA.
It is not easy to find an FX broker that you would be able to trust and be comfortable within South Africa. There are numerous and a long list of Forex brokers you can choose from
Due to this fact, I have taken my time to look for the best and top forex brokers in SA this 2020.
List of Best Forex Brokers in South Africa
1. FX Pro
They are the top spot when it comes to Forex brokers in the world. They are regulated in the UK which happens to be the base of their operation. They are regulated by the UK Financial Conduct Authority with the registration no. 509956.
With Alpari, it is possible to leverage up to 1:1000. The minimum deposit is $200 and is regulated by CYSEC & FCA. They don’t accept USA traders and registered users can open a demo or live trading account with them.
Avatrade are forex brokers that are originally from Ireland. They are one of the best Forex brokers in South Africa. You can start trading with $100 as the minimum when trading live. Avatrade also offers a 400:1 leverage. You can either open a real or demo trading account as their client.
You can either choose to open a demo or real account with Sunbird. Their leverage offer is 100:1.
This is another forex broker that you can make use of as a trader. They are not regulated and their leverage offer is 1:200. Any trader that registers with them can make use of SirixWeb and MetaTrader 4 as trading platforms.
These forex brokers allow 100 Euros as their minimum deposit. They are regulated brokers and are regulated by both regulated by ASIC and Financial Conduct Authority. They open both demo and real trading account for their users. Anyone that registers with them makes use of their Plus500 trading platform.
These forex brokers are regulated. They are regulated by FSA, MiFID and CySEC. They make use of Market Trader and MetaTrader 4 as their trading platforms. These platforms are available to their clients. You can open a demo or a real live trading account with them with a minimum trading deposit of $100.
8. YouTrade FX
YouTrade FX is another top forex broker you can consider using. They are brokers regulated by ASIC, FSC and FSA UK. You can open an account with them with $100 and above. They do offer a 500:1 leverage. You can open a demo or live trading accounts with them.
9. Admiral Markets
Admiral Markets is another top foreign broker on our list that you can consider going for as a South African trader. They are regulated brokers. They provide several trading platforms. This includes Admiral Markets Web and MetaTrader 4. With Admiral Markets, you can deposit as low as $10. They do offer one of the lowest minimum deposit requirements in the Forex world. You can open a demo or live account with them.
With FXPrimus, there is no need for a minimum deposit. They give a 100% trading bonus. They are one of the most trusted Forex brokers you can go for as a South African. In fact, they are sponsors to popular premier league football club, Manchester United.