What is the best forex brokers in South Africa?

Nov 30, 2020 at 07:29
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13 Replies
Member Since Dec 14, 2019   9 posts
Nov 30, 2020 at 07:29
Hello, I want to know your opinion about the best forex brokers in South Africa. Who do you think is the best one? I am looking for a trustworthy and reliable company with low spreads or commissions. So far I came across two solid brokers that are in accordance with https://www.fsca.co.za/Fais/Search_FSP.htm regulated by the FSCA - Plus500 and AvaTrade, suggested in the article - https://tradingbeasts.com/best-forex-brokers-in-south-africa/. Which one do you think is a better option for me? So far I am leaning towards Plus500 as they offer to have an account in Rands. But I am open to other suggestions too! Thanks.
Member Since Jan 27, 2013   447 posts
Nov 30, 2020 at 08:46
Recently Tickmill opened a branch in South Africa.
I have accounts with them for more than 5 years and no problem regarding executions or withdrawals of profit
Member Since Dec 14, 2019   9 posts
Nov 30, 2020 at 10:02
Hello,
I will have a look at them, thank you for the tip. Can I have a trading account in ZAR with them?
Member Since Jan 27, 2013   447 posts
Nov 30, 2020 at 15:13
USDZAR it is available for trading, but if you wish to have the trading account in ZAR I don't know, you have to contact them and ask about this.
Member Since Nov 30, 2020   7 posts
Nov 30, 2020 at 15:16
You can search in google rating of forex brokers
or you can visit here rating

forex brokers don't have nationality now

so you can try any that you want
Member Since Nov 06, 2020   24 posts
Dec 02, 2020 at 13:19
If you will be trading majors then your native currency will get converted to USD or GBP or EUR as the base currency anyway. So you can keep your options much wider. Pepperstone, Fxview, Fidelity are some of the regulated brokers with good prices for their clients. I especially find the interface of fxview very easy to navigate through and use.
Member Since Nov 03, 2016   2 posts
Dec 30, 2020 at 11:50
IFX Broker is very good for any south african traders in my opinion. Excellent support
Member Since Dec 05, 2020   81 posts
Jan 02, 2021 at 06:03
HarlanfxRoger posted:
IFX Broker is very good for any south african traders in my opinion. Excellent support

How about the withdrawals? Did you make any?
Member Since Jul 19, 2020   788 posts
Jan 04, 2021 at 01:27
There are many websites online where you can get this information.
Member Since Nov 03, 2016   2 posts
Jan 05, 2021 at 17:30
Jude_craig posted:
HarlanfxRoger posted:
IFX Broker is very good for any south african traders in my opinion. Excellent support

How about the withdrawals? Did you make any?

Yes I have made withdrawels, next day payout. They are regulated with FCSA, spreads are good
Member Since Dec 05, 2020   81 posts
Jan 07, 2021 at 07:04
HarlanfxRoger posted:
Jude_craig posted:
HarlanfxRoger posted:
IFX Broker is very good for any south african traders in my opinion. Excellent support

How about the withdrawals? Did you make any?

Yes I have made withdrawels, next day payout. They are regulated with FCSA, spreads are good
Okay, that's good then.
Member Since Jul 23, 2020   869 posts
Oct 04, 2021 at 16:20
FSCA is a regulatory body in South Africa. So, choose a regulated broker under FSCA.
Member Since Jul 23, 2020   759 posts
Oct 04, 2021 at 17:51
No matter what you choose. Always stick with a regulated one.
Member Since Mar 17, 2021   536 posts
Oct 04, 2021 at 20:19
AliaDare posted:
There are many websites online where you can get this information.
Yes. Proper research is badly needed to find the best broker.
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