However, we advise traders to carefully consider a leverage that is suitable for them depending on individual needs. Pepperstone has a vast forex selection, and a standard CFD selection. A total of 11 cryptocurrencies include Bitcoin, Litecoin, Ethereum, and Dash against the USD. A range of 62 currency pairs are offered, but leverage levels cannot be altered which is a drawback. While many online brokers will hit traders with some unexpected fees, Pepperstone charges no deposits and withdrawals fees, or inactivity fees.

Additionally, the company charges low forex and equity fees, as well as low non-trading fees. On the other hand, CFD financing rates are high.

The two most popular accounts are the Standard and Razor. Spreads with the Razor account start at 0. The Pepperstone customer support can be reached through several channels to receive some helpful and quick responses.

Needless to say, there are many benefits with Peppers tone. Interested in signing up? Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. com was founded as recently as and is regulated across five jurisdictions. com charges zero commission fees on CFDs such as forex, indices, and commodities on the Marketsx account.

A key distinction between Markets. com and other competitors is the range of trading tools offered on their Marketsx and Marketsi platform. com offers 2, investments which include forex, equities, commodities, crypto, fixed-income securities, and ETFs.

This account will give access to forex pairs, 77 ETFs, shares, 36 commodities, and 77 ETFs, 7 cryptos, 4 bonds, and 23 asset blends, such as events and sectors. com offers leverage ratios of up to , which is relatively low compared to many other brokers in the industry. com earns the majority of its profits via spreads. com trading platforms themselves. Is it a hassle to sign up? Definitely not. The account opening process is fully digital, fast, and hassle-free. FXTM was established in and is a leading forex broker.

The FXTM MetaTrader does offer a lower range of currency pairs and asset classes in comparison to other forex trading platforms. There are just 33 currency pairs, and two CFD spot metals XAGUSD and XAUUSD. The cTrader platform offers 4 asset classes, including 70 currency pairs, 7 pairs of metal trading, and stock indices. Its technology also offers fast execution speeds of 52 milliseconds. Different FXTM accounts charge different fees.

The ECN account charges low spreads but there is a commission. The commission fee charged by FXTM will reduce if you have a higher account balance or are an active trader. Accounts can be opened quickly and simply, and should be ready within two business days. The minimum deposit required for this broker varies on the account type. FXTM offers support through phone, email, and live chat, in a wide range of languages including English, French, German, Chinese, Italian, Czech, Arabix, Polish, Russian, and more.

AvaTrade was founded in and is based in Ireland. It is a CFD broker offering traders low spreads, and gives access to over financial instruments.

Impressively, it is regulated across five continents, including Africa. AvaTrade charges competitive fixed spreads over a wide variety of financial instruments.

It offers standard trading and non-trading fees. Avatrade offers no guaranteed stop losses or volume discounts. And to open an account? An AvaTrade account can be opened pretty speedily, and the responsive customer support team provides support over chat, email, and phone, in several languages.

Plus was established in and is a CFD broker with over , active clients. It offers CFD trading on forex, cryptocurrencies commodities, and indices. You should consider whether you can afford to take the high risk of losing your money. Plus offers a wide range of CFD markets including over 60 forex pairs, more than 67 indices, 17 commodities, 10 cryptocurrencies, shares, options, and ETFs.

Plus charges no commission fees, but because of this, it cannot offer low spreads. Be aware that the spreads are variable and constantly adjusted according to the market spread, depending on the trading instrument. On the flip side, Plus offers low trading fees , and it does not charge any deposit or withdrawal fees. Is there a charge for becoming inactive?

Additional fees may apply based on your trading activity. Plus will charge a currency conversion fee of up to 0. The broker offers a WebTrader and mobile trading platform only. The customer support offered by Plus is helpful and very responsive, and can be accessed through WhatsApp, live chat, or email. Overall, Plus is one of the top forex trading platforms due to its CFD offering. South African traders who prefer to trade CFDs, and can manage risk. Including key forex trading strategies and the tax implications.

When it comes to forex trading, going in without a strategy is just asking for failure. The more you prepare, and the more forex strategies you understand , the more likely you are to succeed. Why not get off to the best start? Here are some of the best strategies to trade forex in South Africa. If you are an analyzer, price action strategy might be just what works for you.

Try to predict the next move, hit at the optimal time, and profit quickly. A trader using a price action strategy is focused on the patterns of movement with a currency pair. The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies.

This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. Currency trading is generally facilitated by global and central banks, with central banks being the core element of the Forex Market. A Forex trader will buy and sell currencies with the main aim of making a profit. A profit or loss is the difference between the buy and sell rates of the currency pairs traded.

The first currency USD in this case set that appears in the Forex pair is referred to as the base currency and is the currency bought or sold for the quote currency.

Any type of trading has its own risks and Forex Trading should not be approached lightly. Potential traders should arm themselves with all the knowledge, tips, and expert advice available. Main risks include:. The interbank market is highly regulated, however, Forex instruments are not standardized, and in some places around the world Forex trading does not fall under any form of regulation. Forex Brokers are regulated in order to undergo regular audits, to communicate certain changes of service to their clients, and much more.

This ensures that currency trading is ethical and fair for all involved. Traders must fully understand what drives currency movement, the economic and political landscape in those economies as well as global events, to name a few. One of the most unique and interesting aspects of this international marketplace is that there is no official central market for a foreign exchange like with Stock Exchanges.

Instead, currency exchange is done electronically, which means that all the transactions occur over global computer networks between various traders in different locations around the world, instead of one centralized exchange.

Across almost every time zone in these locations, trading is conducted. This means that when the trading day in the U. for example ends, the Forex market begins again in Tokyo and Hong Kong.

Here is a Quick overview of terminology Forex traders will come across in their trading journey. It is extremely important to understand the language spoken in the Market as any misunderstanding can and will cost an investor in currency.

The bid is the price at which a trader can purchase the said currency, whereas the asking price is the price at which you can possibly sell it. The spread refers to the difference between the bid and the ask price of a currency pair. For example — If the bid price is A spread is measured in pips, so this would be called a 5 pip spread.

A financial instrument is a financial medium used in a financial market. One of these instruments is called a Swap. Currency swaps are the most common type of forwarding transaction agreement. A swap is a trade between two parties where they exchange the principal amount of a loan and the interest in one currency, for the same amount in another currency. Leverage, also known as margin, is the percentage or fractional increase an investor can trade from the amount of capital they have available.

Leverage will allow investors to trade speculative values far higher than the capital they have available. Simply put — Leverage is borrowed capital within a live trading account. A Long position buy refers to the purchase of an asset, with the anticipation that its market value will rise, whilst a Short position sell refers to the sale of an asset, with the expectancy of its market value falling.

Percentage in point or Pip refers to the smallest price movement any exchange rate can make. A Pip measures the amount of change in the exchange rate for a currency pair in the forex market and is the fourth and final number after the decimal point. Market profit and loss are quantified by the use of Pips.

Rahul Sharma Last updated: July 20, See Best Forex Trading Platforms Download PDF Guide. See SA's Best Forex Brokers! Sort By Please Select Max. Leverage Minimum Deposit. Name Regulator s Max. Tickmill is a FSCA authorized forex broker. HotForex is regulated with FSCA South Africa.

FxPro - NDD Forex Broker. FxPro is a well regulated forex broker. Their overall fees is low with cTrader account. Exness - Low Fees Broker. Chapter 1 What is Forex Trading? Chapter 2 Understanding Currency Pairs. Chapter 3 How to trade Forex in South Africa? Chapter 4 Forex Trading Strategies. Chapter 5 Forex Trading Platforms in South Africa.

What is Forex Market? Forex Trading: Real Life Example Have you travelled abroad to another country? This chapter will explain everything you must know about currency pairs. Let's begin! What are Currency Pairs? Currency Pairs Lingo Here we will explain all the important terms that you must know before understanding more about forex trading.

Let's begin this chapter! ZAR Accounts are available. Funds safety — Hotforex is regulated with South Africa's FSCA FSP No. So, your position sizing total lots should be calculated according to your risk. Another concept related to leverage is margin, which we will explain below. Below is an example of how a Sell Order works in Forex trading.

We will give you brief idea of these 2 trading strategies in this chapter. Which Trading Strategy Should you choose? Chapter 5 Forex Trading Platforms for South Africans. Let's go…. Note: Some forex brokers charge high trading fees, so you must make sure to compare the spreads of major CFD instruments at different forex brokers before choosing.

This is the reason that it is highly liquid, so you can easily open and close trade on most of the currency pairs, and you never have to worry about a particular pair not being available for trading, especially for the Major currency pairs.

Regardless of the execution model of your forex broker, you should get the fill of your order in micro-seconds, if your broker is good. Most forex brokers now have quick order execution. You can place a buy order on a currency pair if you believe that the base currency is stronger. Alternatively, if you think that the currency is not going to do well for some reason, then you can place a sell order. For ex: If you think that the price of Euro is going to go up against the US Dollars, then you can buy Euro by selling USD.

You can trade 24 hours: Forex markets are open 24 hours a day, 5 days in a week, from Monday to Friday. So you can even trade according to your time zone, but the liquidty may be higher during certain time of the day or week. South African timezone allows traders to trade during 2 most active trading sessions i. With leverage you can trade on a margin that allows you to trade with more money than your actual capital.

While leverage is a double-edged sword, it can help you gain massive profits, if you are winning your trade. But we advise you to never use more than leverage. Little gapping on weekdays : Gapping refers to the assets abrupt changes in the price leading especially due to lack of trading activity.

Gapping is common in stock markets, but the forex market is so liquid, that you see little gapping atleast in case of major currency pairs. You may see some gapping during week opens on Monday after the weekend, but on week days it is very uncommon for major pairs to experience gapping. Risks of Trading in Forex Markets Forex trading involves certain risks, and you can lose your capital trading in the market. So you must know about all the risks to trade successfully.

If you are using very high leverage then you can even lose most of your trading capital on a single losing trade. You could make approx. The leverage should be much lower if you are trading CFDs on other volatile instruments. For example, if you are trading CFDs on cryptos, you should avoid using any leverage. If you are trading indices, then you should not use more than leverage. Most brokers don't have any restrictions of leverage, so you must self-regulate. There are cases where the unauthorised brokers lure people into scams by way of false promises is common and any broker promising high returns or high income from forex should always be avoided.

Before choosing any broker, you should always check if your broker is regulated by ateast 1 of the top tier regulators i. FSCA South Africa , FCA UK , CySec etc. Also, if you have checked that the broker is regulated, then the next point should be to check their reviews, transparency in dealing with issues in the past etc.

Also, verify that the broker you are choosing is actually regulated. So you should check that the website where you are signing up is the actual Regulated broker's website. Forex Markets are very Volatile: Every market comes with a degree of risk associated with uncertain volatility.

Unfortunately, most of these factors are not in control of a trader. Hence, it is advised that before opening or closing any trade, you should always check if there is upcoming some news that can impact the volatility. Also, make sure to always have a stop loss in place in case the market goes against you.

Forex Trading in South Africa: FAQs How much money do you need to start forex trading in South Africa? How can I start Forex Trading in South Africa? You can follow these 4 steps to start trading Forex in South Africa: Learn Forex trading: If you are a beginner, you should start by learing the basics of forex trading, including 'what is forex trading', 'the risks of leverage', its basics, strategies etc.

Depending on your requirements, you can open ZAR trading account as many brokers offer it. You would need to submit your KYC documents to open a live account, and then you can fund it. Start Trading Forex: Once your account is open, you can download the broker's trading platform. Most brokers these days offer MT4 platform with mobile support.

Is Forex Trading legal in South Africa? Where can I trade forex in South Africa? Is Forex Trading Profitable? How many forex traders are there in South Africa? How does Forexbrokers. za help you? Send Me the PDF. See Best Brokers! Best Rated Forex Brokers 1 Hotforex 2 XM Trading 3 Exness 4 Avatrade 5 FXTM South Africa 6 FXCM South Africa. Helpful Links Best South African Forex Brokers Forex Trading in South Africa Best ECN Brokers FSCA Regulated forex brokers Best Bitcoin Brokers Forex Trading platforms in South Africa Forex Trading Apps in South Africa MetaTrader 4 Brokers in South Africa Best forex brokers that offer ZAR Accounts No deposit Bonus forex brokers in South Africa Best Forex Brokers for Beginners in South Africa Best South African Brokers with NAS Best CFD Trading Brokers in South Africa Best Volatility 75 Index Brokers in South Africa Risk Disclaimer.

FSCA, FCA, CySEC.

Forex trading is the exchange of one currency for another. Forex trading is the trading of currency pairs buying one currency while at the same time selling another.

FNB is the oldest and most established bank in South Africa and can be traced back to the Eastern Province Bank — established in Today, FNB trades as a division of FirstRand Bank Limited.

FNB Forex has simplified the process of sending funds abroad for foreign investment purposes. Local investors will now have the ability to access the international markets, and if they so wish, diversify their savings by making use of their foreign investment allowance. Mercantile Bank , a division of Capitec Limited, has more than 50 years of experience and offers its clients personalized service, tailored solutions, transparent pricing and the assistance of skilled, experienced and flexible teams.

Mercantile Banks core focus falls on Business and Commercial Banking but they also provide a wide range of international and local banking services, credit card, debit card and payment services plus a full suite of foreign exchange products.

Nedbank, whose history traces back to , offers their clients a range of solutions through their frontline clusters, Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking, Nedbank Wealth and Nedbank Africa Regions.

Absa Bank , a subsidiary of the Absa Group, is a bank that offers its clientele an impressive range of retail, business, wealth management, corporate and investment solutions. Absa Bank has a presence in 12 countries across the African continent, with offices situated in the United Kingdom and the United States respectively.

Provider in South Africa. Did you know we can deliver your forex to you? If you prefer, you can collect from your nearest FNB branch.

But traders beware : there has been a sharp increase in online forex broker scams. Additional fees may apply based on your trading activity. Upcoming economic announcements, for instance, might well reverberate across the forex markets — something your technical analysis might not consider. com Best Overall Pepperstone Best for Fees Markets. Applicants will need to complete a registration which may include the completion of personal information and financial details.

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