Background Introduction to Forex Trading in South Africa
The trend of forex trading in the African continent has been an interesting subject of many intellectual assessments for the past few years, though with different narratives. With the biggest Economies on the planet (Nigeria and South Africa) advocating for diversification and infrastructural development, it is commendable to notice that the digital money market is growing in Africa, and the number of forex trading enthusiasts registered with different forex brokers across the continent currently increases steadily.
We have reviewed the prominent and most influential forex brokers registered with the South African financial regulatory agency; The Financial Services Conduct Authority (FSCA).
List of the best Forex Brokers in South Africa for 2020
CM Trading is considered the biggest stakeholder of the SA Forex market, offering all registered clients daily market review analysis of active currency exchange rates, financial global news, and diverse information relating to gaining active representation across the forex trading base in South Africa.
As an innovative host, CM Trading’s CopyKat trading system provides every trader, irrespective of their experience level, the unique feature of duplicating the trade signals, financial instrument data and currency pair trades of expert users on the platform. Strictly regulated by the FSCA, this broker gained clients easily in significant numbers as it also provides personalized trading solutions and manages clients financial inputs in separate accounts.
In South Africa today, the prevailing trading orientation easily shifts forex rookies to trade with CM Trading.
Forex Time Trading
FXTM controls another notable chunk of the forex traders base in South Africa. Operating on the philosophy of quality global representation of clients, this broker makes forex trading an interesting experience for clients with no upright confidence in the fluid money market by offering a Cent trading account operating at a minimum deposit of $5!
This gesture in its entirety sharply contrasts the minimum balance account regulations of competing brokers as the uniform minimum deposit for other brokers stands at $250.
The FXTM demo account allows new clients to register a virtual account that operates on the real time market analysis for free. This feature also produces virtual earning, records trade history, and match each demo account trader with an account manager; a perfect simulation of live forex trading, reckoning with all trading variables. Over 250 financial instruments are available for users to choose from, with a live stream of marketing research information provided on affiliate media outfits by the FXTM research team.
Today in Africa, FXTM is championing the race for advanced forex trading with the potential to trigger renewed interest in forex trading on the planet, and become the biggest stakeholder in the nearest future.
AvaTrade’s reputation in the SA Forex climes”’ has been closely linked to its user friendly, easy to use AvaTradeGo app, providing a wide selection of financial instruments as a bundle of innovation made available on generally applauded interface.
AvaTrade’s big guns procured for a knife exhibition are all mobile app enabled features branding step-by-step online tutorial for clients, easy-to-use ebooks, carefully prepared tutorial videos.
This broker hoist the flag of incorporating Cryptocurrency in forex trading on the African planet, securing a relatable position with the tech-savvy young personnel interested in forex trading right in South Africa and beyond its coast.
Other notable features offered by AvaTrade include CopyTrade, SharpTrader; a forex academy, AvaOptions; a compilation of financial solutions and trading instruments, and DupliTrade; a pioneer social trading platform.
With AvaTrade, Technology leads the way!
IronFX Solid Trading
Banking on cliche chant of transparent trades, IronFX provides a list of trading options bordering on stocks, spot metals, commodities and spot indices with a future option of incorporating push alerts as with other brokers.
IronFX provides a tempting range of non-withdrawable bonuses for all registered client’s. The ease with which tradings are made, the unique customer service, and a swift order execution system are the basic selling point for IronFX.
The IronFX card provide the idea of fund security by offering the client a fund withdrawal service anywhere around the globe at a meagre currency conversion charge. Trading over 100 liquid money pairs, the clients on this platform have a choice account types ranges from a spectrum of VIP premiums; at $20,000 or more,
Standard premium; at a deposit of $2,500 and the Minimum account fund of $100.
FXCM easily leads the pack of international forex brokers in South Africa with their presentation package of trading many products with the same forex fund account. This broker also provide a personalized trading experience with the TradeStation feature. This feature provides an easy integrated access to a host of carefully selected chart tools, market level indicators and financial instruments peculiar to chosen currency trade pair.
Flaunting a $20 dollar registration bonus, FXCM is moving the border of conventional forex trading ideas to a futuristic angle by providing trading community referral programs, free workshop at different localities, and a demo account for potential big time forex traders.
In the SA Forex arena, FXCM is clearly dominating the recruit story headlines!