The best Forex broker in South Africa

Posted by jessica on May 11th, 2021

South Africa has been prolific in the designing of technological makeovers on the continent Man first evolved. The country was fortunate enough to keep abreast of tech changes the last two decades. Truth be told, the indigenous forex community has multiplied, largely courtesy mobile connectivity. 

South Africa understands that Law and trading  go together. All requisite measures are in place for the online Forex space. Brokers serving South Africans are licensed and regulated.

In our quest for the best Forex broker in South Africa, we will be examining the service performance of a sew of the players. We will be considering investLite, Global ATF, Tickmill and BDSwiss. 

Provenanced in Belize, investLite is regulated by the IFSC, or International Financial Services Commission. UK based Bayline Global World Ltd. owns the brokerage. 

Secure Trade:

Several security measures ensure investors’ funds stay secure. investLite uses the segregated account, which protects your investment against the rare event of insolvency. Data encryption is another surefire measure. 

Attractive Leverage:

Regardless of account type, investors are all entitled to high leverage. A silver account privileges you to leverage up to 1:200. With an astounding 1:400 leverage, the gold account doubles the stakes for you. With a leverage of 1:500, the platinum account is the most attractive. 

Tradable Assets:

clients have access to more than 350 CFDs. FX, indices, equities, commodities and metals – all categories are ably covered.

Superlative  Support For Customers:

 Retailers are treated to multilingual support and guidance through several channels.

No Commissions/Fees:

with InvestLite, you as the starter  trader can truly look forward to optimising your profitability. Spreads are the only agency that bring profits to  the broker. There are neither commissions nor deposit fees.

Rich  In Education:

 InvestLite aims at being a provider of rich learning resources.

Opening an account is very easy.

 KYC and AML details such as address and identity details are to be submitted at some point.

investLite has a competitive platform armed with features and tools suitable for all manner of investors. A wide array of CFDs across numerous asset classes are await trade!

With several financing options on offer, InvestLite is all set to being your dream broker.

Global Trade ATF

Global Trade ATF is licensed by the IFSC and recognized by EU authorities. Global Trade ATF has following salient points: legitimate regulation; depot management that’s toll free.

·         High quality trade offer, with 40 tradable currency pairs ;

·        Service open throughout the day and night ;

·        The demo account is free ;

·        Spreads are competitive  ;

·        Best trading platform.

Global Trade ATF scores high with its trading offer and technical aspects. Support services are well above par. The only caveat is the broker’s attitude to inactivity. An inactive trader is charged inactivity fee, in addition to  transaction fees ( affecting capitalized accounts not used for trading). 

Tickmill

Tickmill is another broker that has quietly climbed to the top of the South Arican charts. The broker is situated in London and is recognized by leading UK and EU authorities.

Swift Order Execution:

Tickmill is the broker for you, if the speed of order execution is important to you. the broker owns a large number of data centres globally. Tickmill is prone to low latency. However, a VPS server does away with that problem. There are no requotes on the website. No matter the position size, 30 or more lots can be swiftly traded here. 

NDD broker:

as opposed to ECN brokers, a supplementary obligation is not a requirement with Tickmill.

BDSwiss

BDSwiss is based in Cyprus. CySEC has emerged as a regulator with a lot to commend it. When we know BDSwiss is regulated by CySEC, we immediately expect high standards of the broker. 

Reachable trade 

20,000 euro plus accounts are secured. In keeping with CySEC regulations, the broker does not offer bonuses. With their multilingual communication offering, BDSwiss just might be your new broker!

Trading in South Africa – bright future 

CFDs are meant for speculation and hedging. They are in the same company as options , futures, and turbo certificates. CFDs come with simpler pricing . CFDs are more durable in times of volatility. Exact loss limitation and sensible risk management ensure CFDs are the best investment instruments out there.

Conclusion

With greater leverage effect and more affordability vis a vis futures, CFDs are set to rule the South African forex scene. The brokers we discuss could, any of them, take up the title of being ‘best’ in the business in South Africa. We encourage you to do your due diligence, but are convinced the best broker is among the few we have presented.