South Africa is one the fastest growing economies of not only the African continent but the world. In the second quarter of 2021, it recorded a fourth consecutive growth in its GDP. It grew approximately 1.2 per cent. April-June 2021. The data exhibits its strengthening currency and investment flowing in the nation known for its gold mining globally. Traders who are looking for the best forex brokers in South Africa should read the article for better information and guidance.
There was a revised surge of one per cent in real GDP (gross domestic product) during the first quarter of January-March 2021.
Best Forex Brokers in South Africa
PrimeFin
Overview: If a trader is chasing a vision to explore the foreign exchange market, PrimeFin offers CFD trading to them on exotic, major and minor currency pairs. They are coupled with hi-tech tools and online platforms that expedite order placements and allow traders to invest more in the volatile marketplace. As a result, it is getting in the race of being at the top spot. Moreover, it aids in keeping you with the changing momentum of the market. The parent company is Caps Solutions LTD. Hence, it is one of the best forex brokers in South Africa.
Forex pairs offered by the broker are:- CHF/JPY, CAD/CHF, USD/JPY, EUR/USD, EUR/CAD, GBP/USD etc.
Pros
- The commission is low
- There’s a zero per cent fee
- Dedicated support
- Cross trading platform
- Superb data safety
- Quick speed trading
- Low latency
- A wide range of currency pairs available for trading
Cons:
MetaTrader5 platform is not available for traders
Minimum Deposit
The minimum deposit for a trader is USD 250. So, traders can make that and start trading in the live market.
Maximum Leverage
The maximum leverage offered by PrimeFin for its forex client is 1:100, which seems sufficiently good for both veterans and beginner market players.
Trading Platforms
- WebTrader
- MetaTrader4
- Mobile App
Regulations
Caps Solutions Limited is the owner of PrimeFin, which is regulated by LFSA ( Labuan Financial Authority).
Investby
Overview: For remarkable trading, the broker offers more than 45 currency pairs to its subscribers that provide them. Its breakthrough online trading program is the USP which draws market players for investment in the ocean of opportunities. The top-notch trading environment helps clients exceptionally to execute their bids in the forex bazaar. As a result, the financial future remains secure. The parent company is TechFX LLC.
Some currency pairs include:- AUD/USD, CAD/CHF, EUR/CAD, USD/JPY, GBP/USD, CAD/JPY etc.
Pros
- Privilege of flexibility
- Power of security
- No hidden fees
- Forefront of experience
- Professional customer support
- CFDs on assets
- Innovative trading conditions
Cons
- Unavailability of MetaTrader4
Minimum Deposit
The broker seeks a minimum deposit of USD 250 from its clients, which is manageable and extends them the gateway of a plethora of activities.
Maximum Leverage
The maximum leverage for retail traders offered by Investby broker is 1:100. So, forex trading becomes better with it.
Trading Platforms
- WebTrader
- Mobile App
- MetaTrader4
Regulations
The forex brokers in South Africa is regulated by NBRB (National Bank of the Republic of Belarus).
Pepperstone
Overview: The broker provides extensive services in the financial markets to all its users. Its razor-sharp pricing and 60 plus currency pairs for trading make the brokerage firm a top forex broker. Pepperstone EU Limited is the parent company that operates all activities on the trading portal. The registration number is ΗΕ 398429, while the license number is 388/20.
Some currency pair includes:- USD/CAD, EUR/GBP, EUR/USD, AUD/USD, GBP/USD, USD/CHF etc.
Pros
- The customer care support is 24/5 for traders
- Spreads are tight for forex market players
- Industry-leading analysis
- Award-winning educational tools
- 1000+ instruments for trading
Cons
- The user interface is not effective.
Minimum Deposit
The broker seeks a minimum deposit of zero, which is incredible for traders. Moreover, it is exciting because it allows people with no balance to create an account.
Maximum Leverage
The maximum leverage offered by Pepperstone is 1:100 for forex traders, which gives market players to display their skills in the foreign exchange market.
Trading Platforms
- Social Trading
- cTrader
- MetaTrader4
- MetaTrader5
Regulations
The forex brokers in South Africa is regulated by CySEC (Cyprus Securities and Exchange Commission). The registration number is ΗΕ 398429, while the license number is 388/20.
FP Markets
The broker takes pride in offering trading through a wide range of accounts. The financial service provider has partnered with one of the best banks for seamless funds transactions globally. So, traders can engage in better bidding prepositions. It has a deep liquidity pool and comes with a facility of CFD on forex instruments. The broker offers 60+ currency pairs, including AUD/NZD, CAD/JPY, AUD/SGD, AUD/CAD, CAD/CHF, EUR/AUD etc.
Pros
- Accesible global markets
- Multilingual customer support
- Advanced VPS solutions
- Personal Account Manager
- Consistently Tighter Spreads
- Segregated Client Funds
- CySEC Regulated
Cons
- The trading account seems messed up
Minimum Deposit
The broker seeks a minimum deposit of AUD 100, which is fair for all types of clients.
Maximum Leverage
The pro account of FP Markets offers whopping leverage of 1:500. That helps forex traders to bid bigger in the international market without owning too much funds.
Trading Platforms
- WebTrader
- MetaTrader4
- MetaTrader5
Regulations
CySEC (Cyprus Securities and Exchange Commission) regulates the broker FP Markets with a registration number HE 372179 and license number 371/18. The First Prudential Markets Ltd is the parent company of the financial service provider.