Finding the best South African forex brokers can be challenging sometimes. We’ve compiled a list of the best forex brokers available to South African traders and investors. All the information about these brokers is well researched and unbiased. We put together this guide to bring you the most trusted and highly valued South African forex brokers through unbiased reviews and impartial advice.
Our team at 24tradeforex.com have done an excellent job making sure that you get a wide selection of the best forex brokers in South Africa. Some of these brokers are also international and can take South African traders who are interested in creating accounts and trading with them.
When choosing a forex trading website, you need to make sure that your money is safe and the broker provides a service that meets your needs. During our research, our experts discovered that most beginners prefer a broker that takes low deposits. This helps them to learn how to trade with small amounts. They also check if the broker charges commissions for trades and if the broker offers free deposits for first-time depositors.
Most South African forex brokers offer demo accounts where you can understand how forex trading works before trading with real money. It is important that you know if the broker is regulated in which jurisdiction. Most brokers in South Africa are FSB regulated.
Things to consider when choosing the best forex trader:
This guide also helps you to find the best broker that offers the most competitive rates and spreads of bonuses, trading strategies, hidden costs and ultimate guide to forex trading.
- Best Online Brokers – in order to trade forex successfully, you need to find the best online broker you can trust with your money. A best forex broker will make your trading experience better and maximise your trading skills. They also make sure that they provide you with tools to implement your trades and educational information regarding foreign exchange.
At 24TradeForex, we look beyond the hype that all brokers promise their clients. We make sure that we create accounts with brokers so that we can experience the real feeling of trading and share the information with South African forex traders.
The below is a criterion of the best online broker in South Africa:
Super Bonus – South African forex brokers don’t want you to leave them. They want you to stick around and continue trading with them. In order to achieve their goal of keeping you, they offer South African traders with different types of bonuses. There are welcome bonuses for every first-time depositor and bonus match deposit. These bonuses are usually activated when you have traded a couple of times before withdrawing your funds. These bonuses also help you to increase the chances of making more profits.
Regular Payments – regular payments depend on how many times you trade and the effort you put in as a trader. The more you predict the result of the South African currency (ZAR) pair, the more profit you make. This adds to your account and you will be able to make bigger withdrawals.
Different Currency Pairs – most popular currency pairs are EUR / USD, GBP / USD, and GBP / USD, but most South Africans like to trade ZAR / USD. These currency pairs make it possible for the traders to open multiple trades and they often produce larger gaps. These days, most brokers offer a wide selection of currency pairs to allow traders to trade whatever currency pair they want. You can trade over 200 currency pairs including South African currency indicated by ZAR.
Mobile Support – with fast moving technology and time. It is now possible to trade forex through your mobile phone, tablet or smartphone. Most forex trading platforms are compatible with Windows operating system devices, Android and iOS devices.
Customer service – in the FX market world, customer support is the most important. Imagine you have a question regarding your account and there’s no one to help you, which sucks right? Best South African forex brokers offer customer support through email, social media, telephone and live-chat. A good broker with good customer support tends to stand out from their competitors.