Forex trading is getting more and more popular day by day. Nowadays finding the best FX broker is probably the most complicated part of a trader’s career. It becomes even more difficult in countries like South Africa. But now, you don’t need to worry because we have got a thorough article on South African broker that will help you determine which one is suitable for you and your trading style.
The Financial Sector Conduct Authority, or FSCA, is the market regulator in South Africa that oversees and regulates financial institutions in South Africa that offer derivatives trading in international financial markets forex broker.
A Forex broker is a person or company that allows you to spend some time and money in foreign exchange to earn some profit. In other words, if you want to become an FX trader or investor, then you must have a broker with you. This article will help you to get a broad overview about this. So, here is our take on South
Types of South African Brokers
If you are new to foreign exchange and want to become an FX trader, you must know all types of brokers. Or at least you should understand that type of broker which you want to work with. SO, here are almost all types of South African brokers that you can come across with. The following is a list of best South African Broker.
- Gold Trading Broker
- ETF Broker
- SILVER Trading Broker
- Cryptocurrency Broker
- Commodities Broker
- CFD Trading Broker
- Stock Brokers
- Oil Trading Brokers
- Bitcoin Brokers
- Pepper stone
- Tick mill
- MT4 Brokers
- Trading 212
- Think Markets
- Infineon
- Trade Nation
- MT5 Brokers
- Regulated Brokers
- Islamic Brokers and many others as well.
List of Top South African Brokers
IQ Option
IQ Option is one of the biggest brand names in the world of South African brokers. It was established in 2013.
Regulations
As IQ Option is a Cypriot broker, so it is regulated by CySEC. And CySEC is a reliable institute that is trusted worldwide. So, as a South African trader, you don’t need to worry about ist regulation because it is completely legit. But if still, you have any doubt, you can check its regulation on CySEC official website.
Pros and Cons:
Pros
- It is a regulated broker.
- The minimum deposit is just 10 $, which is extremely less as compared to its competitors.
- It has many awards, including the 2017 award of excellence.
Cons
- There is no bonus given by it.
FXVC
It is one of the most reputable South African brokers that was established in 2017.
Regulations
This is one of those FX brokers who are new in the field but still have made their name. It is completely safe as a South African broker because a reputable institute of Cyprus CySEC regulates it.
Pros and Cons:
Pros:
- Hugely fast execution of every process.
- Low spreads.
- There is a wide range of accounts for traders: Five.
- A mobile app is given for easy trading from mobile.
Cons
- Payment and withdrawal can be a problem because it does not accept PayPal.
Vantage FX
This is an Asian-Pacific FX broker that was launched in 2009.
Regulations
It is a legit broker regulated by the Australian and British security institutes: Australian Securities and Investments Commission (ASIC) and Financial Conduct Authority (FCA).
Pros and Cons:
Pros:
- This broker gives ECN trading account.
- You can avail of commission-free trading.
- MT4 and MT5 are both platforms that are accessible for you.
Cons:
- Currency pairs are limited for the trader.
Conclusion:
So, if you want more options in South African broker, please let us know! You can read about the cm trading withdrawal to get more information. This will help
You to get more in-depth information.
