Top Forex traders in South Africa
Forex is a revolutionary market in South Africa. There are several good brokers in South Arica. Brokers have made Forex trading easier for people.
We have selected the top Forex traders in South Africa.
Top Forex traders in South Africa – Introduction
Forex brokers are a mediator between the Forex trading platform and the end-trader. A retail trader can’t access the Forex market without a broker. Thus, a broker is a linkage between the demand and the user.
When it comes to selecting the top forex traders in South Africa, the competition is close. We have done our best to review the brokers and their services.
Top brokers list
In our experiences, we have found the following brokers to be the best in business;
- Blackstone futures
- Markets.com
- Exness
- CM trading
- Tickmill
- FBS
- HotForex
- XM trading
Now, we will review each of these brokers individually for our readers.
| Broker | Regulation | Bonus | Minimum Deposit | Leverage |
| Blackstone futures | FSCA | 30% | 100 USD | 1:400 |
| Markets.com | FCA, ASIC, CySEC, FSCA, BVIFSC | 50% | 100 USD | 1:300 |
| Exness | SFSA, FSC (BVI), CBCS, FSCA | 10% | 10 USD | 1:2000 |
| CM trading | FSCA | 100% | 250 USD | 1:200 |
| Tickmill | CySEC, FCA, FSA, and FSCA | – | 100 USD | 1:500 |
| FBS | CySEC, IFSC | 100% | 10 USD | 1:3000 |
| HotForex | FSCA, FCA, CySEC | 100% | 10 USD | 1:1000 |
1. Blackstone Futures
Blackstone’s future is a good South African broker. Blackstone futures is well established.
Regulation
FSCA regulates Blackstone Futures. FSCA is the South African government’s authority to look over local brokers. FSCA has held Blackstone since it was established. FSCA also audits Blackstone Futures annually, and the broker has never lost their license.
Bonus
Our review is directed at South African traders. South African traders are very interested in bonus offerings. Blackstone Futures offer a 30% bonus for new traders. The bonus is a deposit type bonus.
Minimum Deposit
The minimum Deposit limit at Blackstone Futures is 100 USD. Professional and institutional traders are ok with high deposit limits. However, entry-level traders seek low deposit values.
Leverage
Leverage rates at Blackstone Futures are 1:400. We always recommend traders try moderate leverage rates. High leverage rates are an increased risk for new traders.
2. Markets.com
Markets.com is another South African broker. Markets.com has been established in South Africa for more than two decades.
Regulation
FCA regulates Markets.com. FCA is a reputed British authority. In Australia, ASIC looks over the Markets.com broker. Moreover, in South Africa, FSCA is the local authority that regulates Markets.com.
Bonus
Bonus is an attractive feature for new traders. A 50% bonus is sufficient enough to get traders set up.
Minimum Deposit
When it comes to minimum deposit limits, 100 USD is more than average. Markets.com is targeted at high-end brokers.
Leverage
Low leverage rates are better for professional traders. Markets.com provides below market average leverage rates set at 1:300.
Best broker for new traders
If you are looking for a broker that offers easy trading tools, Exness is the way to go. Exness has the lowest deposit rates and a good average bonus as well.
Verdict
There are a bunch of top Forex traders in South Africa. Our review will serve as a guide for traders who are looking for a new broker.
