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Suppose you are facing a hard time choosing a broker. Don’t worry. We have got you covered.
This article will present a list of Forex brokers in South Africa. In our opinion, all types of users should be fine trading with these brokers. However, pick the right one for yourself based on your trading requirements.
Our list of top South African Forex brokers
Here is a list of brokers that rule the Forex market, in our opinion.
We will start our list with the FXTM broker. FXTM is a good Forex trading solution for several reasons. The best thing about this broker is that it is reliable. It has never failed us in our experience.
The minimum deposit rate of FXTM is 50$. It is one of the few brokers in the middle of the Forex trading minimum limit spectrum.
FXTM’s leverage rates are set at 1:400. Again, just like the minimum deposit limit, leverage rates should be moderate.
Similar to all the top brokers, FXTM also functions on MetaTrader4. It is a robust and efficient platform, and we have had no complaints about it.
Several authorities regulate FXTM. FSCA is a South African authority that monitors brokers. Hence, you will be safe with FXTM.
eToro is an Australia-based broker. However, it is a good option for South African traders as well. It won the award for best Forex broker in Africa in 2018.
The minimum deposit limit of eToro broker is set at 100 USD. It is the average minimum deposit limit for most brokers.
You can trade at 1:500 markup with eToro brokers.
eToro operates on the MT4 trading platform currently. It is planned to upgrade to the MT5 platform as well.
The regulation of eToro is monitored by ASIC brokers. This broker is not based in South Africa. However, it is reputed enough that you will not run into any problems.
AvaTrade continues to top all Forex broker review charts in 2021. It is a perfectly balanced broker for all sorts of users.
The minimum deposit limit of AvaTrade is set at 100 USD. You expect this kind of deposit limit from high-end brokers.
AvaTrade offers the market standard leverage rates of 1:500.
The trading platform of AvaTrade also operates on MT4.
ASIC regulates it. In South Africa, AvaTrade is monitored by the FSCA.
Tickmill is a robust and highly functioning broker. Let’s take a look at the trading platform of Tickmill.
The minimum deposit of Tickmill brokers is 100 USD. We see most brokers at the deposit limit of 100 USD or above.
Leverage rates of Tickmill are set to be around 1:500.
Tickmill is an efficient broker, and we expect nothing less than the fastest in-game MT4 trading platform.
FSCA in South Africa regulates Tickmill, and it is a safe and legitimate broker.
Our article has presented and explained the top trending Forex brokers for South African users.
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