Trading is the act or process of buying, selling, or exchanging commodities, at either wholesale or retail, within a country or between countries: domestic trade; foreign trade. a purchase or sale; business deal or transaction. an exchange of items, usually without payment of money.
Here Are The List Of Trading Services In South Africa
To compare the trading offering and select the best one for you we present 7 South Africa Brokers that were determined and selected by a particular ranking. This including broker’s legal sides and regulation, the overall competitiveness of trading conditions and offering, its international reputation or trust, and other important profile data.
So see below the list and choose the appropriate one in balance to your personal values, also you may access in-depth review with all important point covered of each broker trading conditions by clicking the link.
1. FXTM
First in our list is FXTM broker, a company operating since 2011 with headquarter in Cyprus, also with established regulated entity in South Africa. Eventually, FXTM is not only highly regarded broker, but also the one that becoming quite valuable in South Africa in terms of both its trading quality and customer satisfaction ratings.
Whether you are beginning trader or professional FXTM designed specified conditions suitable for any type of trader. Beginners or Professional will find necessary conditions accompanied by truly professional educational material and support materials, and that is besides regular contest broker takes.
2. XM
XM is another great option and trading solution, which operates globally and a quite known broker in Cyprus, UK, Australia and worldwide as well. With its great variety of trading instruments and focus on the client needs with a range of account types including micro accounts and specified type with ultra-low costs brings you a comprehensive feature for trading. Read a full review of XM here
3. IG Group
Eventually, IG Group or IG Markets is one of the pioneer companies within trading and Forex industry. It started its operation in 1974 and was standing at the very beginning of the online dealing and trading, which produce as a result of powerful combination for world investors.
So besides t its numerous entities around the world, the broker also deploy a trusted trading environment with greater conditions which indeed not many brokers has access to. IG received numerous industry awards and timely recognized for its excellence in both trading service and technology solution they provide. With IG NDD connectivity, you will get truly comprehensive trading capabilities, so definitely IG worth consideration.
4. HotForex
HotForex also offers a powerful solution to trade CFDs and Forex, also with costs built into the tight spread. Being a fully regulated broker in various jurisdictions HotForex maintains safe trading capabilities and delivers various solutions including Zero Spread trading and Islamic Accounts.
South Africans are able to benefit from the speculation on price fluctuations on various instruments including Cryptocurrencies.
5. FP Markets
FP Markets originally an Australian broker also expand its proposal globally, serving additional entity in Cyprus and accepting South African traders. Some of the great FM Marktes is a technical trading solution, as besides its powerful execution model you are able to choose from powerful software including IRESS, and MetaTrader platforms.
FP Markets also constantly undergo development, so along the time you will get more wide offering and various interesting conditions, which is definitely a great option in the long run.
6. Plus500
Plus500 is fully based on CFD trading providing, so if you would like to deploy your strategy on CFDs with a truly amazing and very wide range of instruments, Plus500 is your choice. Its trading platform is also very customer-friendly and intuitive, so any trader will get into the process quite easily. Also, Plus500 delivers some of the great costs, while the only missing point of Plus500 is education materials.
7. FXCM
FXCM is the last one in our list with developed trading software based on Meta Trader and Trade Station, so whether your choice is automated strategy or manual trading, along with a copy trading option, you will be able to use technology to its best.
Which trading platform is the best in South Africa?
Best South African Forex Brokers
OctaFX – Forex broker with Low Spread & Copy Trading.
Exness – Low minimum deposit forex broker in South Africa.
XM Trading – Fast Execution & low spread.
AvaTrade – Fixed spread forex broker.
Plus500 – Good Crypto CFD platform.
IC Markets – Best ECN Forex Broker.
How do I start trading in South Africa?
Steps to start trading forex in South Africa for beginners:
Learn the basics of Forex trading.
Learn about the different Currency Pairs.
Choose a broker & open your Forex Trading Account.
Learn the different Forex trading strategies.
Compare Online Forex Trading platforms.
Understand the Risks of trading forex.
Which country does South Africa trade the most?
South Africa top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| China | 9,595 | 10.73 |
| Germany | 7,160 | 8.01 |
| United States | 6,262 | 7.00 |
| Unspecified | 4,997 | 5.59 |
Can you get rich by trading forex in South Africa?
Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.