Fastest growing forex trading platforms in Southern Africa

Overview

Many traders will know that success in trading can depend on several different factors and the forex broker, and the trading platform that they provide, play vital roles in this.

The forex market is a liquid, volatile, and highly competitive battlefield where millions of participants try to buy and sell foreign currencies at the best possible prices while trying to make a profit.

South African traders who are looking for the best, fastest-growing forex trading platforms in South Africa can take a look at the list below.

AvaTrade

AvaTrade is one of the most popular forex brokers that has received multiple industry recognition and awards for being one of the best brokers in African Markets, and the rest of the world.

Along with regulation from reputable regulatory bodies, AvaTrade boasts a significant consumer base, competitive offers, vast social trading opportunities, and competitive fixed spreads.

With an impressive asset selection spread across several financial markets, AvaTrade is poised to become one of the choices of online brokers for many active traders and retail traders alike.

Of all international brokers that offer their services to African countries, AvaTrade has earned the trust of its clients and is drawing in more traders monthly into registering a live account.

 

CONSPROS
Well-regulatedUS clients not accepted
Multiple awards wonFixed spreads are not the tightest
Powerful and flexible trading platforms
AutoChartist provided

 

HotForex

HotForex is a reputable broker that is based in Cyprus with corresponding regulation and authorisation through regulatory bodies such as the Financial Conduct Authority, CySEC, DFSA, and FSCA in offering comprehensive trading solutions to South African traders from around the world.

HotForex is also well-known for offering comprehensive services, reliable execution, and a range of helpful trading tools through MetaTrader 4 and MetaTrader 5, two of the most popular and trusted trading platforms in the industry.

HotForex offers access to a range of financial markets to traders of all skill levels in South Africa along with offering demo accounts, trusted funding methods, social trading opportunities, CFD trading, tight and variable spreads, and more.

 

PROSCONS
Choice of retail accounts offeredUS Clients not accepted
Competitive trading conditions
Islamic account option and demo accounts
Variety of financial markets offered

 

Exness

Exness is a popular name in financial circles in South Africa and the broker has been offering its comprehensive services since 2008, with offices based in Saint Vincent and the Grenadines, Cyprus, and the United Kingdom.

Exness is known for its range of tradable financial instruments, competitive trading conditions, and a choice in account types through which forex trading can be done. Exness also offers powerful trading platforms and the benefit of a trading app, allowing traders to access their trading activities at any point.

Exness, and the provision of a range of trading tools, is the perfect choice for any experienced trader in South Africa, and all retail traders can rest assured that they are dealing with a reputable broker that has their best interest at heart.

 

PROSCONS
Well-regulated global brokerAccounts are not multi-currency
Negative balance protection applied to retail accountsThere is a limited choice in tradable instruments
MetaTrader offered
Demo account options provided

 

BDSwiss

Established in 2012 with operations based in Cyprus, Mauritius, and Seychelles, BDSwiss is a trusted and reputable ECN and STP broker and CFD trading provider.

BDSwiss offers its comprehensive trading services to thousands of traders in South Africa through the provision of powerful, reliable, and user-friendly trading platforms through which trades can be executed seamlessly.

Retail traders are also granted a trading app, allowing for seamless integration of the trading account across platforms, no matter where the trader may be. Out of several other reputable international brokers, BDSwiss has made a name for itself through its competitive offers, range of markets, CFD trading options, and competitive, variable spreads.

 

PROSCONS
Impressive asset selection of more than 250 financial instrumentsFixed spreads are not offered
Webinars offered
Trading Academy provided
Daily Trading Alerts
Commission-free trading accounts

 

FBS

FBS is one of the most reputable online brokers in the industry that welcomes traders from several African countries. When compared with other international brokers, FBS is renowned for its choice of trading platforms, competitive variable spreads, social trading opportunities, and choice of retail investor accounts.

With FBS, traders in South Africa can expect access to a range of forex and CFD trading instruments, competitive trading conditions, low and transparent fees, and a range of trading tools, market analysis, and more.

 

PROSCONS
Low initial investment amountHigh variable spreads on the Cent Account
Range of tradable instrumentsInactivity fee charged
Social trading opportunities
Demo trading options

 

NAGA

NAGA is one of the best online brokers and an innovative, popular social investing network that allows clients of all experiences from South Africa and several other African countries.

With NAGA, traders can expect competitive trading conditions, tight variable spreads, low commission charges, and reliable trade executions. In addition to offering its own critically acclaimed proprietary trading platform, NAGA also allows access to MetaTrader 4 and MetaTrader 5.

 

PROSCONS
No fees or commissions are charged on depositsSmall withdrawal fee charged
Copy-trading and social trading supportedUS Clients not accepted
Range of user-friendly trading platforms
Member of an Investors Compensation Fund (ICF)

 

Tickmill

Of the hundreds of online brokers in the industry that accept traders from African countries, Tickmill is a broker that stands out thanks to its competitive trading conditions and flexible trading accounts.

Tickmill may not offer a range of tradable instruments but makes up by offering some of the best trading platforms, trading tools, and a secure and safe trading environment.

 

PROSCONS
Member of a compensation fundNo fixed spreads
Negative balance protection appliedLimited education
Multi-regulated

 

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